Common use of Rent Clause in Contracts

Rent. (a) Tenant covenants and agrees to pay to Landlord, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 2 contracts

Sources: Lease Agreement (United Bancshares Inc /Pa), Lease Agreement (United Bancshares Inc /Pa)

Rent. (a) Tenant covenants and agrees to The Lessee shall pay to Landlord, as rental for the Premises, Annual Basic Rental Base Rent in the sum amounts and at the times set forth in Exhibit B attached hereto. The Lessee agrees and acknowledges that Exhibit B attached hereto may be amended at any time: (i) to reamortize the Principal Component if 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 attached hereto is appropriate, CoLT will mail to the Lessee a revised Exhibit B (identified by date or other means), by first class mail, postage prepaid. The 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 Fundamental revised Exhibit B. The Lessee will pay Additional Rent within fifteen days after a written request therefor is mailed to the Lessee by or on behalf of the Lessor. Any Lease ProvisionsPayment that is not paid when due shall 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 Lessee shall immediately reimburse the Lessor therefore with interest accrued on such amount at the Late Payment Rate. Amounts due under this paragraph will be deemed to be Additional Rent due and payable in advance in equal monthly installments on when incurred and without further written demand therefor. Each Lease Payment will be applied to amounts then due and payable: (i) first to the first day Interest Component of each full calendar month Base Rent, (ii) second to the 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 termLease Term, the first Lease Payments and all other payments required hereunder, free of any deductions, and without abatement, deduction, or set-off (other than credits against Lease Payments expressly provided for in this Lease). Notwithstanding any dispute between the Lessee and the Lessor or a dispute between the Lessee and any Project related vendors, the Lessee shall make all Lease Payments when due and shall not withhold any Lease Payments pending final resolution of such payment dispute nor shall the Lessee assert any right of set-off or counterclaim against its obligations to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term make such payments required under this Lease. Lease Payments shall be payable to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord Disbursing Agent at the office of Landlord herein designated place set forth in Exhibit B attached hereto or to at such other address and/or person or company place as Landlord the Disbursing Agent may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses designate in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalswriting.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Rent. (a) Tenant covenants and agrees to shall pay to LandlordLandlord as minimum monthly rent, without ---- deduction, setoff, prior notice, or demand, the Basic Monthly Rent described in Paragraph 2.6, above (subject to adjustment as rental for the Premises, Annual Basic Rental provided in the sum set forth attached Addendum), in the Fundamental Lease Provisionsadvance, payable in advance in equal monthly installments on or before the first day of each full calendar month during month, beginning on the term, Rent Commencement Date and thereafter throughout the first such payment to include rent, prorated on a daily basis, for Term. If the period (if any) from the date of commencement of the term to Rent Commencement Date is other than the first day of a calendar month, then the first full calendar month in the term. (b) Any sum, amount, item or charge Basic Monthly Rent payable by Tenant hereunder for the first month of the Term following the Rent Commencement Date (which first month shall be deemed additional rent, and except as otherwise specifically provided herein, payable upon execution of this Lease) shall be paid by Tenant to Landlord prorated on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable the actual number of days during the Term occurring during the relevant month. Notwithstanding the foregoing, if Landlord is delayed in completion of Landlord's Work due to any act or omission by Tenant or its agents, employees, contractors, or representatives, then in addition to Landlord under this Lease the Basic Monthly Rent payable for the first month of the Term following the Rent Commencement Date, Tenant shall additionally pay to Landlord, upon the Rent Commencement Date, additional rent (at the rate of one-thirtieth of the Basic Monthly Rent per day) for the number of days of such delay. All "Rent" (which includes Basic Monthly Rent, and any items designated as "Additional Rent" hereunder) shall be paid to Landlord at the office same address as notices are to be delivered to Landlord pursuant to Paragraph 2.10, above. The Rentable Area of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when the Premises and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shallBuilding is, at Landlord's optionelection, and subject to verification by Landlord's space planner or architect. That verification shall be made in accordance with this Paragraph. Tenant's space planner or architect may consult with Landlord's space planner or architect regarding that verification. Verification of the Rentable Area of the Premises shall be done, if at all, within 90 days of the Lease Commencement Date. Verification of the Rentable Area of the Building may be accomplished within such 90-day period or at any time thereafter that there is a change to the Building necessitating such verification. If Landlord's space planner or architect determines that the Rentable Area of the Premises or the Building is different from that stated in this Lease, all Rent that is based on notice that incorrect amount shall be modified in accordance with that determination. If that determination is made, it shall be confirmed in writing by Landlord to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 2 contracts

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

Rent. (a) Tenant covenants Subject to subsection (c) below, commencing on and agrees after the Commencement Date, Lessee shall pay Lessor all monetary obligations of Lessor under each Prime Lease for its respective Property applicable to pay to Landlordthe Term (including, as rental for the Premiseswithout limitation, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisionsbase, payable in advance in equal monthly installments on the first day of each full calendar month during the termfixed or minimum rent, percentage rent, additional rent, common area maintenance charges, real estate taxes and assessments, insurance charges, waste removal charges, merchants association dues, marketing, advertising and other promotional fund contributions, utility charges, HVAC and chilled water charges) (collectively, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term“Property Rent”). (b) Any sumCommencing on and after the Commencement Date, amountLessee shall pay directly to Lessor, item or charge at Lessor’s office at the address designated for notices to Lessor in Section 11(a) hereof, all other amounts payable by Tenant hereunder shall be deemed additional rentLessee that arise as an independent obligation under this Sublease (the “Additional Rent”, and except as otherwise specifically provided hereintogether with the Property Rent, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent“Rent”). (c) Lessor and Lessee agree to cooperate, and to take all reasonably necessary or desirable actions possible, to arrange for all payments by Lessee of the Property Rent with respect to each Property directly to Prime Landlord with respect to such Property, and, with respect to each Property, to otherwise establish a direct relationship between Prime Landlord and Lessee with respect to all matters arising under the Prime Lease with respect to such Property and this Sublease with respect to such Property. All rentals payable by Tenant Property Rent with respect to Landlord under this Lease any Property shall be paid in lawful money of the United States to Prime Landlord with respect to such Property (or, if such Prime Landlord will not agree to such arrangement, then to Lessor at Lessor’s office at the office of Landlord herein address designated for notices to Lessor in Section 11(a) hereof in immediately available funds at least two (2) Business Days prior to the date when such Property Rent is due and payable under such Prime Lease), or to at such other address and/or person place as either Prime Landlord or company Lessor may designate, as Landlord the case may designate from time to time be, by notice to TenantLessee. Tenant Lessor and Lessee agree that it is the intention of Lessor and Lessee to pass all of Lessor’s obligations (without premium or ▇▇▇▇-up) for Property Rent incurred under the Prime Lease during the Term with respect to each Property to Lessee, and Lessee agrees to pay or otherwise reimburse Lessor for all of Lessor’s obligations for Property Rent incurred with respect to each Prime Leases and each Property. If a Prime Landlord will promptly pay all rentals herein prescribed not accept a direct payment from Lessee of Property Rent under the respective Prime Lease, then, provided Lessee shall have delivered such Property Rent payment to Lessor within the time and in the manner specified in this subsection (c), Lessor shall deliver such payment of Property Rent to such Prime Landlord on or prior to the date when and as the same shall become such Property Rent is due and payable. If Landlord payable under such Prime Lease and in such manner as provided under the respective Prime Lease. (d) All obligations of Lessee and Lessor under this Section 4 shall pay any monies survive the termination of the Prime Leases or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsthis Sublease.

Appears in 2 contracts

Sources: Sublease (Express Parent LLC), Sublease (Express Parent LLC)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (awhich shall be applied against the Rent payable for the first month(s) Tenant covenants is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay to LandlordLandlord the Base Rent, as rental for the Premiseswithout prior notice or demand, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisionsabatement, payable offset, deduction or claim, in advance in equal monthly installments at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month during based upon a thirty (30) day month. To the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement extent not already paid as part of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, Advance Rent any prorated Rent shall be paid by Tenant to Landlord on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month following in which the date on which Landlord notifies Tenant of the amount payable expiration or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional renttermination occurs. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 2 contracts

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

Rent. (a) Tenant covenants and agrees to pay to Landlord, as rental rent for the PremisesPremises during the Interim Term and the Primary Term of this Lease, Annual Basic Rental in the sum amounts set forth on Exhibit 5- 1 hereto, and during each Extended Term the amounts determined pursuant to Exhibit 5-2 hereto (herein called the "Basic Rent") in the Fundamental Lease Provisions, payable monthly installments in advance in equal monthly installments on the first day of each full calendar month during (herein called the term"Basic Rent Payment Dates") by wire or other electronic transfer of immediately available funds or by check payable to the Landlord at the address set forth above and/or to such other person or such other place or account as Landlord from time to time may designate to Tenant in writing; provided, Landlord may designate to Tenant in writing that all or a portion of the first such monthly Basic Rent be paid directly to a Mortgagee or an institutional payment to include rentagent, prorated and the remainder be paid as otherwise designated in writing by Landlord. Any payment made by check shall be deemed made on a daily basis, for the period (if any) from the date of commencement of the term received, subject to collection. Subject to the first day second sentence of Subparagraph 7(a), Tenant shall pay when due all taxes payable on Basic Rent and Additional Rent, whether imposed on Landlord or Tenant, including without limitation, all gross rent taxes and sales taxes on such Basic Rent and Additional Rent, but calculated as if the first full calendar month in Basic Rent and the termAdditional Rent were the sole income of Landlord. (b) Any sumTenant covenants that all other amounts, amountliabilities and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease together with every fine, item penalty, interest and cost which may be added for nonpayment or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided hereinlate payment thereof, shall be paid constitute additional rent hereunder (herein called "Additional Rent"). In the event of any failure by Tenant to pay or discharge any Additional Rent, Landlord shall have all rights, powers and remedies provided herein or by law in the case of nonpayment of Basic Rent. Tenant also covenants to pay to Landlord on demand an amount (the first day "Late Charge") equal to five percent (5%) of the month following payment amount then due on all installments of Basic Rent or Additional Rent which are more than five (5) days overdue, to cover Landlord's administrative expenses. Landlord is obligated to pay any late fees charged by Mortgagee with respect to the Mortgage if the Late Charge is paid by Tenant. The actual amount of Landlord's administrative expenses arising by reason of a late payment will be difficult to ascertain, and the parties agree that the Late Charge as calculated above is a reasonable estimate thereof. In addition, Tenant further covenants to pay to Landlord on demand interest at the per annum rate of interest equal to five percent (5%) plus the "prime rate" as reported by the Wall Street Journal, or at the maximum rate permitted by applicable law, whichever is less, on all Basic Rent and Additional Rent due to Landlord from the date due until such amount is paid in full. If the Wall Street Journal is no longer published or the Wall Street Journal discontinues publication of the "prime rate," then Landlord shall substitute a comparable prime rate. Notwithstanding the two prior sentences of this Subparagraph 5(b) to the contrary, so long as any debt secured by a first Mortgage against the Premises remains outstanding (including such debt as exists on the date hereof and any such debt incurred in the future), the rate of interest that shall apply under this Lease to all overdue Basic Rent and Additional Rent shall be the lesser of (i) the maximum rate permitted by applicable law, or (ii) the interest rate applicable to late payments of interest or principal due with respect to such debt (which interest rate under such first Mortgage is referred to herein as the "Default Rate"); said lower rate described in clauses (i) or (ii) being referred to as the "Mortgage Default Rate"; provided, however, such Mortgage Default Rate shall only apply to the overdue Basic Rent while Landlord notifies is obligated to pay interest at the Default Rate on late payments with respect to said Mortgage debt (and at all other times the rate described in the prior two sentences of this Subparagraph 5(b) shall continue to apply to overdue Basic Rent and Additional Rent). At the written request of Tenant Landlord will advise Tenant of the amount payable or on of the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify Mortgage Default Rate in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at a Landlord's option, and on notice certificate delivered to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalspursuant to Subparagraph 25(b) hereof.

Appears in 2 contracts

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

Rent. (a) Tenant covenants and agrees to shall pay to Landlord, at Landlord's Address for Payment of Rent designated in the Basic Lease Information, or at such other address as rental Landlord may from time to time designate in writing to Tenant for the Premisespayment of Rent, Annual Basic Rental the Base Rent, without notice, demand, offset or deduction, in the sum set forth in the Fundamental Lease Provisionsadvance, payable in advance in equal monthly installments on the first day of each full calendar month during month. Landlord shall have no obligation to notify Tenant of any increase in Rent and Tenant's obligation to pay all Rent (and any 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 termRent 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 such payment to include rentmonth's Base Rent. If the Term commences (or ends) on a date other than the first (or last) day of a month, Base Rent shall be prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. a thirty (c30) day month. All rentals payable by sums other than Base Rent which Tenant is obligated to Landlord pay under this Lease shall be paid 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 at commencing on the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to TenantPossession Date. Tenant will promptly pay The term "Rent" means the Base Rent and all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, Additional Rent payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalshereunder.

Appears in 2 contracts

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

Rent. (a) The Tenant covenants and agrees to shall pay to the Landlord as Base Rent, in legal tender, at the Landlord, ’s office as rental for the Premises, Annual Basic Rental in the sum set forth in Exhibit “B”, or as directed from time to time by Landlord’s notice, the Fundamental Lease Provisions, annual amount set forth in Exhibit “B” payable in advance in equal monthly installments payments as set forth in Exhibit “B” promptly on the first day of each full every calendar month during of the term, except for the first such month’s rent which is due and payable on execution of this Lease, and pro rata, in advance for any partial month, without demand, the same being hereby waived and without any set-off or deduction whatsoever. For any rent payment not made when due, Tenant shall pay — except as otherwise provided for herein — a late charge equal to include rent, prorated on a daily basis, for the period greater of: i) $100.00 or ii) ten percent (if any10%) from the date of commencement of the term to the first day overdue amount. The parties agree that such late charge represents a fair and reasonable estimate of the first full calendar month costs Landlord will incur by reason of such late payment. The covenants herein to pay a late charge shall be independent of any other covenant set forth in the termthis Lease and shall be paid without deduction or set-off. (b) Any sumIt is understood that the Base Rent specified in Paragraph (a) was negotiated in anticipation that the amount of Operating Expenses on the Property would not exceed $271,970.00 during any calendar year of the term hereof. Therefore, amountin order that the rental payable throughout the term of the Lease shall reflect any increase in such costs, item the parties agree as hereinafter in this Section set forth. The annual Base Rent payable pursuant to Paragraph (a) as increased pursuant to Paragraph (b) of this Section is hereinafter called the “Rent”. Certain terms are defined as follows: Tenant’s Share: The amount of Tenant’s pro rata share of the increase in Taxes and Operating Expenses over $271,970.00 during each calendar year. Tenant’s pro rata share of such increase is agreed to be 10%. (A) Operating Expenses shall consist of all expenses, costs and disbursements (but not specific costs billed to specific tenants of the Property) of every kind and nature, computed on the accrual basis, relating to or charge payable incurred or paid in connection with the ownership and operation of the Property, including but not limited to, the following: (i) wages and salaries of all on and off-site employees engaged in the operation, maintenance or access control of the Property, including taxes, insurance and benefits relating to such employees, allocated based upon the time such employees are engaged directly in providing such services; (ii) all supplies, tools, equipment and materials used in the operation and maintenance of the Property; (iii) cost of all utilities for the Property including but not limited to the cost of water and power for heating, lighting, air conditioning and ventilating in the common areas; (iv) cost of all maintenance and service agreements for the Property and the equipment therein, including but not limited to security service, garage operators, window cleaning, elevator maintenance, janitorial service and landscaping maintenance; (v) cost of management, not to exceed five per cent (5%), of actual base rent received; (vi) cost of repairs and general maintenance of the Property (excluding repairs, alterations and general maintenance paid by Tenant hereunder proceeds of insurance or attributable solely to tenants of the Property other than Tenant); (vii) amortization (together with reasonable financing charges) of the cost of installation of capital investment items which are installed for the purpose of reducing operating expenses, promoting safety, complying with governmental requirements or maintaining the first class nature of the Property, other than capital items installed in connection with Lessor’s initial construction of the Property; (viii) the cost of all insurance on the Property, including, but not limited to, the cost of casualty, rental abatement and liability insurance applicable to the Property and Lessor’s personal property used in connection therewith; and (ix) all taxes, assessments and governmental charges, whether or not directly paid by Lessor, whether federal, state, county or municipal and whether they be by taxing districts or authorities presently taxing the Property or by other subsequently created or otherwise, and any other taxes and assessments attributable to the Property or its operation, excluding, however, federal and state taxes on income, death taxes, franchise taxes, and any taxes imposed or measured on or by the income of Lessor from the operation of the Property or imposed in connection with any change of ownership of the Property; provided, however, that if at any time during the term of this Lease, the present method of taxation or assessment shall be so changed that the whole or any part of the taxes, assessments, levies, impositions or charges now levied, assessed or imposed on real estate and the improvements thereof shall be discontinued and as a substitute therefor, or in lieu of an addition thereto, taxes, assessments, levies, impositions or charges shall be levied, assessed and/or imposed wholly or partially as a capital levy or otherwise on the rents received from the Property or the rents reserved herein or any part thereof, then such substitute or additional taxes, assessments, levies, impositions or charges, to the extent so levied, assessed or imposed, shall be deemed to be included within the operating expenses to the extent that such substitute or additional tax would be payable if the Property were the only property of the Lessor subject to such tax. (B) In order to provide for current payments on account of an increase in the annual Operating Expenses in excess of $271,970.00, the Tenant agrees, at Landlord’s request, to pay, as additional rent, and except Tenant’s Share due for the ensuing twelve (12) months, as otherwise specifically provided hereinestimated by Landlord from time to time, shall be paid in twelve (12) monthly installments, each in an amount equal to 1/12th of Tenant’s Share so estimated by Tenant to Landlord commencing on the first day of the month following the date on month, in which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such noticeestimated Tenant’s Share. If, whichever as finally determined, Tenant’s Share shall be latergreater than or be less than the aggregate of all installments so paid on account to the Landlord for such twelve (12) month period, then Tenant shall pay to Landlord the amount of such underpayment, or the Landlord shall credit Tenant for the amount of such overpayment, as the case may be. It is the intention hereunder to estimate the amount of Operating Expenses for each year and then to adjust such estimate in the following year based on actual Operating Expenses incurred and/or paid by Landlord. The obligation of the Tenant with respect to the payment of Rent shall survive the termination of this Lease. Any such notice payment, refund, or credit made pursuant to this Paragraph (b) shall specify be made without prejudice to any right of the Tenant to dispute the statement under Paragraph (d) of this Section, or of the Landlord to correct, any item(s) as billed pursuant to the provisions hereof. If the term remaining is less than a full calendar year, then Tenant shall only owe the increase in reasonable detail the basis of such additional rentOperating Expenses for the full year appropriately adjusted for the period remaining in the Tenant’s Term. (cC) All rentals payable by Upon receipt of the Landlord’s statement, Tenant does hereby covenant and agree promptly to Landlord under pay the increases in Rent pursuant to Paragraph (b) of this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company Section as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed and when and as the same shall become due and payable, without further demand therefore, and without any set-off or deduction whatsoever. If Failure to give such statement shall not constitute a waiver by Landlord of its right to require an increase in Rent pursuant to the provisions hereof. (D) Within thirty (30) days after receipt of such statement, Tenant or its authorized employee shall pay any monies or incur any expenses have the right to inspect the books of Landlord at reasonable times during the business hours of Landlord at Landlord’s office in correction of violations of covenants herein set forth, the amount so paid or incurred shallBuilding or, at Landlord's ’s option, and on notice at such other location that Landlord may specify, for the purpose of verifying information in such statement. Unless Tenant asserts specific errors within thirty (30) days after delivery of such statement, the statement shall be deemed to Tenant, be considered additional rentals, payable correct. Such inspection or audit shall be conducted by Tenant with or tenant’s employee or Tenant’s auditor; but in no event shall the first installment audit be conducted by a third party whose compensation is contingent upon the results of rent thereafter becoming due such audit or the amount of any refund received by Tenant. Tenant hereby agrees to keep the results of any such audit confidential and payableto require Tenant’s auditor and its employees and each of their respective attorneys and advisors to likewise keep the results of such audit in strictest confidence. In particular, but without limitation, Tenant agrees that: (i) Tenant shall not disclose the results of any such audit to any past, current, or prospective tenant of the Property, and may (ii) Tenant shall require, that its auditors, attorneys and anyone associated with such parties shall not disclose the results of such audit to any past, current or prospective tenant in the Property; provided, however, that Landlord hereby agrees that nothing in items (i) or (ii) above shall preclude Tenant from disclosing the results of such audit in any judicial proceeding, or pursuant to any court order or discovery request, or to any agent, representative, or employee or Landlord who or which request the same. (E) No decrease in Operating Expenses shall reduce Tenant’s Rent below the annual Base Rent set forth in Paragraph (a) of this Section. (F) All costs and expenses which Tenant assumes or agrees to pay to Landlord pursuant to this Lease shall be collected or enforced as by law deemed additional rent and, in the event of non-payment thereof, Landlord shall have all the rights and remedies herein provided for in respect case of rentalsnon-payment of Rent.

Appears in 2 contracts

Sources: Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc)

Rent. (a) 3.1 Tenant covenants and agrees to shall pay to Landlord, Landlord as rental rent (the “Rent”) for the Premises, Annual Basic Rental in Premises during Term the sum set forth in the Fundamental Lease Provisions, Rent identified on Exhibit L. 3.2 The Rent shall be payable in advance in equal monthly installments on within five (5) days of the first day of each full calendar and every month during the termTerm, without previous demand therefor and without offset or deduction of any kind whatsoever, except as herein specifically set forth. Notwithstanding the foregoing, Tenant shall pay the first such payment to include rent, prorated on a daily basis, for the period month’s installment of Rent within five (if any5) from the date of commencement days of the term to execution of this Lease and, if the Commencement Date occurs on other than the first day of the first full a calendar month in the termmonth, Tenant shall pay its pro rata share of Rent for such calendar month. (b) Any sum, amount, item or charge 3.3 All Rent payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant made payable to Landlord and sent to Landlord’s address set forth on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such noticecorresponding Exhibit L, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company persons or at such other place as may be designated by written notice from Landlord to Tenant, from time to time, and shall be made in local currency in which the Premises is located (or as otherwise agreed to by Landlord and Tenant in writing) which shall be legal tender for all debts, public and private. At Tenant’s option, Rent may designate be payable when due by wire transfer or other payment of immediately available funds to an account designated from time to time by notice to TenantLandlord. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay be deemed to receive such payments when Landlord’s bank actually receives the wire transfer from Tenant’s bank for the account of Landlord. 3.4 Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any monies action to terminate, rescind or incur avoid this Lease except as expressly permitted in this Lease, notwithstanding any expenses in correction action for bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any assignee of violations of covenants herein set forth, the amount so paid Landlord or incurred shall, at Landlord's option, and on notice any action with respect to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and this Lease which may be collected taken by any trustee, receiver or enforced liquidator or by any court. Except as expressly set forth herein, Tenant hereby waives all right (i) to terminate this Lease, or (ii) to surrender this Lease, or (iii) to any abatement, deferment, reduction, set-off, counterclaim or defense with respect to any Rent payable hereunder. Except as expressly set forth herein, Tenant shall remain obligated under this Lease in accordance with its terms and Tenant hereby waives any and all rights now or hereafter conferred by law provided statute or otherwise to modify or to avoid strict compliance with its obligations under this Lease. Notwithstanding any such statute or otherwise, Tenant shall be bound by all the terms and provisions contained in respect of rentalsthis Lease.

Appears in 2 contracts

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

Rent. (a) Tenant covenants and agrees to shall pay to Landlord, as rental annual rent for the PremisesPremises during the Term, Annual the amounts determined in accordance with Exhibit “D” hereto (“Basic Rental in Rent”), commencing on the sum set forth in date hereof for the Fundamental Lease Provisionsinitial month and thereafter, payable in advance in equal monthly installments on the date hereof, and continuing on the first day of each full calendar month during the termTerm (each such day being a “Basic Rent Payment Date”). Each such rental payment shall be made, at Landlord’s sole discretion, (i) by a check actually received by Landlord before the first such payment to include rentapplicable Basic Rent Payment Date, prorated or (ii) by wire transfer in Federal Funds on a daily basis, the applicable Basic Rent Payment Date. Pro rata Basic Rent for the period (if any) from initial month shall be paid on the date of commencement of the term to the first day of the first full calendar month in the term.hereof (b) Any sumTenant shall pay and discharge, amountas additional rent (collectively, item or charge payable by Tenant hereunder shall be deemed additional rent, and “Additional Rent”): (i) except as otherwise specifically provided herein, shall all costs and expenses of Tenant, Landlord and any other Persons specifically referenced herein which are incurred in connection or associated with (A) the ownership, use, non-use, occupancy, monitoring, possession, operation, condition, design, construction, maintenance, alteration, repair or restoration of the Premises, (B) the performance of any of Tenant’s obligations under this Lease, (C) any sale or other transfer of the Premises to Tenant under this Lease, including costs and expenses incurred in connection with the payment of a Prepayment Premium, (D) any Condemnation proceedings, (E) the adjustment, settlement or compromise of any insurance claims involving or arising from any of the Premises, (F) the prosecution, defense or settlement of any litigation involving or arising from any of the Premises, this Lease, or, in accordance with the Agreement of Purchase and Sale between the parties, the sale of the Premises to Landlord, (G) the exercise or enforcement by Landlord, its successors and assigns, of any of its rights under this Lease, (H) any amendment to or modification or termination of this Lease made at the request of Tenant, (I) subject to, and included within the limitation set forth in Paragraph 25(a) the Costs of Landlord’s counsel incurred in connection with the preparation, negotiation and execution of this Lease, and the Costs incurred in connection with any act undertaken by Landlord (or its counsel) at the request of Tenant, or incurred in connection with any act of Landlord performed on behalf of Tenant, and (J) any other items specifically required to be paid by Tenant to Landlord on the first day of the month following under this Lease; (ii) after the date on which Landlord notifies Tenant all or any portion of any installment of Rent is due and not paid by the applicable Basic Rent Payment Date, or date the same is due, an amount (the “Late Charge”) equal to five percent (5%) of the amount of such unpaid installment; except that the first Late Charge in any twelve (12) month period shall not be due and payable unless the amount due has not been received, in immediately available U.S. funds, within five (5) days following the Base Rent Payment Date; (iii) a sum equal to any additional sums (including any late charge, default penalties, interest and fees of Lender’s counsel) which are payable by Landlord to any Lender under any Note by reason of Tenant’s late payment or non-payment of Basic Rent or by reason of an Event of Default; and (iv) interest at the rate (the “Default Rate”) of five percent (5%) over the Prime Rate per annum on the tenth day following sums until paid in full: (A) all overdue installments of Basic Rent from the respective due dates thereof, (B) all overdue amounts of Additional Rent relating to obligations which Landlord shall have paid on behalf of Tenant, from the date of payment thereof by Landlord, and (C) all other overdue amounts of Additional Rent, from the date when any such amount becomes overdue, except that the first interest charge in any twelve (12) month period shall not be due and payable unless the amount due hasn’t been paid within five (5) days after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentdate due. (c) All rentals payable by Tenant shall pay and discharge (i) any Additional Rent referred to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed in Paragraph 6(b) when and as the same shall become due and payable. If due, provided that amounts which are billed to Landlord shall pay or any monies or incur any expenses in correction of violations of covenants herein set forththird party, the amount so paid or incurred shall, at Landlord's option, and on notice but not to Tenant, shall be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payablepaid within ten (10) days after Landlord’s demand for payment thereof, and may be collected or enforced as (ii) any other Additional Rent, within ten (10) days after Landlord’s demand for payment thereof. (d) In no event shall amounts payable under this Lease exceed the maximum amount permitted by law provided in respect of rentalsapplicable Law.

Appears in 2 contracts

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

Rent. (a) 7.1. Tenant covenants and agrees to shall pay to Landlord, Landlord as rental Base Rent for the Premises, Annual Basic Rental in commencing on the sum one (1) month anniversary of the Term Commencement Date (the “Rent Commencement Date”), the sums set forth in Section 2.3, subject to the Fundamental Lease Provisions, payable rental adjustments provided in advance Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each full and every calendar month during the termTerm. 7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the first Property Management Fee (as defined below), and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. 7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such payment to include rent, prorated 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 daily basis, for the period (if any) from the date of commencement of the term to day other than the first day of a calendar month, then the first full calendar Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the termmonth and shall be paid at the then-current rate for such fractional month. 7.4. Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) Any sumany other restriction on Tenant’s use, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and (c) except as otherwise specifically expressly provided herein, shall be paid by any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to Landlord on terminate or cancel this Lease or quit or surrender the first day Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the month following the date on which Landlord notifies Tenant expiration or earlier termination of the amount payable Term or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to Landlord at the office of Landlord herein designated or to such any other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsperiod.

Appears in 2 contracts

Sources: Lease (Pandion Therapeutics Holdco LLC), Lease (Pandion Therapeutics Holdco LLC)

Rent. (a) 7.1. Tenant covenants and agrees to shall pay to Landlord, Landlord as rental Base Rent for the Premises, Annual Basic Rental in commencing on December I, 2018 (the sum “Rent Commencement Date”), the sums set forth in Section 2.3, subject to the Fundamental Lease Provisions, payable rental adjustments provided in advance Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each full and every calendar month during the termTerm. 7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the first Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. 7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such payment to include rent, prorated 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 daily basis, for the period (if any) from the date of commencement of the term to day other than the first day of a calendar month, then the first full calendar Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the termmonth and shall be paid at the then-current rate for such fractional month. 7.4. Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) Any sumany other restriction on Tenant’s use, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and (c) except as otherwise specifically expressly provided herein, any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period. 7.5. Provided that Tenant is not then in default of this Lease (beyond the expiration of all applicable notice and cure periods expressly set forth in this Lease), then during the initial six (6) calendar months of the Term following the Rent Commencement Date (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises (the “Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement shall be paid by in an amount not to exceed Two Hundred Seventy-Eight Thousand Two Hundred Seven and 70/100 Dollars ($278,207.70). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Landlord on Tenant as additional consideration for entering into this Lease, and for agreeing to pay the first day of rental and performing the month following the date on which Landlord notifies terms and conditions otherwise required under this Lease. If Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord default under this Lease beyond any applicable notice and cure period provided in this Lease, then Tenant’s right to receive the Base Rent Abatement for the Base Rent Abatement Period shall automatically terminate as of the date of such default and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The Base Rent Abatement shall be paid personal to Landlord at the office original Tenant and shall only apply to the extent that the original Tenant (and not any assignee, or any sublessee or other transferee of Landlord herein designated the original Tenant’s interest in this Lease) is the Tenant under this Lease during the Base Rent Abatement Period. Nothing in this Section shall work to ▇▇▇▇▇ or reduce (during the Rent Abatement Period or otherwise) Tenant’s obligations under this Lease with respect to such other address and/or person or company as Landlord may designate from time to time by notice Additional Rent including (without limitation) Tenant’s obligations with respect to Tenant. Tenant will promptly pay all rentals herein prescribed when ’s Adjusted Share of Operating Expenses and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsProperty Management Fee.

Appears in 2 contracts

Sources: Lease (Erasca, Inc.), Lease (Erasca, Inc.)

Rent. (a) 1.01. Tenant covenants and hereby agrees to pay to Landlord, Landlord basic annual rent (the “basic annual rent”) as rental for the Premises, Annual Basic Rental in the sum set forth in Section (h) of the Fundamental Lease Provisions, payable in advance Reference Page hereof. The basic annual rent shall be paid by Tenant in equal monthly installments in advance on the first day of each full calendar month during the termTerm 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 such payment full month’s installment of basic annual rent shall be paid by Tenant to include rent, prorated Landlord upon the execution of this Lease. Should the Rent Commencement Date fall on a daily basis, for the period (if any) from the date of commencement of the term to any day other than the first day of a month, then the first full calendar basic annual rent for such month in shall be pro-rated on a per diem basis, and Tenant agrees to pay the termamount 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 (bsubject to collection) Any sumdrawn to Landlord’s order on a bank which is a member of the New York Clearinghouse Association or a successor thereto, amountor a New Jersey bank. All sums, item or charge 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 additional rent as for a default in the 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, then Tenant shall pay Landlord, as additional rent, a late charge equal to three (3%) percent 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 except 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 otherwise specifically provided hereinsaid 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 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 Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day falling fifteen (15) days after the giving due date. If, in any calendar year, all installments of such noticebasic annual rent and all payments of additional rent are paid when due, whichever then, the interest payment waiver applicable to subsequent calendar years shall nonetheless be later. Any such notice shall specify in reasonable detail the basis of such additional rentlimited to just one (1) single instance per calendar year. (c) All rentals payable by Tenant The provisions of this Section 1.03 are in addition to all other remedies available to Landlord under this Lease for nonpayment of basic annual rent or additional rent. 1.04. Landlord agrees that no basic annual rent shall be paid due from Tenant that is solely attributable only to Landlord at the office of Landlord herein designated or period (“Free Rent Period”) beginning on the Commencement Date and ending on the day immediately prior to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and the Rent Commencement Date (as the same may be extended pursuant to the terms of this Lease). If, prior to the Rent Commencement Date, a monetary breach and/or a material non-monetary breach occurs under the Lease (after receipt of any required written notice and beyond the expiration of any applicable grace period), then, in addition to any and all other rights and remedies of Landlord, Tenant shall become 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 payable(ii) pay Landlord basic annual rent under Section (h) of the Reference Page at all times after the 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) as if the Free Rent Period ended on the date of such breach. If Landlord shall pay the date of such monetary breach and/or material non-monetary breach (which remains uncured after receipt of any monies or incur required written notice and beyond the expiration of any expenses in correction applicable grace period) occurs on a date other than on the first (1st) day of violations of covenants herein set fortha calendar month, then, the amount so paid or incurred shall, at basic annual rent for such partial month shall be equitably prorated in a manner reasonably determined by Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 2 contracts

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

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Base Rent (a) which shall be applied against the Rent payable for the first month Tenant covenants 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 this Lease and under the provisions of Exhibit B hereto. Tenant agrees to pay to Landlord, without prior notice or demand, or abatement (except as rental for the Premises, Annual Basic Rental in the sum otherwise set forth in Sections 27 and 41 hereof), offset, deduction or claim, the Fundamental Lease ProvisionsBase Rent described on Page 1, payable in advance in equal monthly installments at Landlord's address shown on Page 1 on the Commencement Date and thereafter on the first (1st) day of each month throughout the Term of the Lease. In addition to the Base Rent set forth on Page 1, Tenant shall pay Landlord in advance, on the Commencement Date and thereafter on the first (1st) day of each month throughout the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises to conduct business operations therein without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month during based upon a thirty (30) day month. The prorated Rent shall be paid on the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to Commencement Date and the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following which the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such noticetermination occurs, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and case may be collected or enforced as by law provided in respect of rentalsbe.

Appears in 2 contracts

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

Rent. (a) 4.01 Tenant covenants and agrees to shall pay to Landlord, as rental for the Premiseswithout any setoff or deduction, Annual Basic Rental in the sum unless expressly set forth in this Lease, all Base Rent and Additional Rent (as hereinafter defined) due for the Fundamental Lease ProvisionsTerm (collectively referred to as “Rent”). Base Rent shall commence on the Commencement Date, subject to the Base Rent Abatement Periods. Anything herein to the contrary notwithstanding, an amount equal to the first full monthly installment of Base Rent, which shall be applied toward the seventh (7th) month of the Term, plus any fraction of a monthly payment for any portion of a month at the commencement of the Term, shall be due and payable together with the Security Deposit (as defined herein) upon the execution hereof. Landlord’s receipt of the foregoing payments shall be a condition precedent to the effectiveness of this Lease. All Additional Rent shall commence on the Commencement Date except as expressly provided otherwise. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance in equal monthly installments on the first day of each full calendar month without notice or demand. Unless otherwise specified herein to the contrary, all other items of Rent shall be due and payable by Tenant on or before thirty (30) days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord otherwise designates and shall be made by good and sufficient check drawn on a local bank or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to five percent (5%) of all past due Rent, provided that Tenant shall be entitled to a grace period of five (5) days for the first two (2) late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum or the maximum rate permitted by law, whichever is less. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the term, the first such payment to include rent, prorated Term shall be prorated. No endorsement or statement on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item check or charge payable by Tenant hereunder letter accompanying payment shall be deemed additional rent, considered an accord and except as otherwise specifically provided herein, shall be paid by Tenant satisfaction. Tenant’s covenant to Landlord on the first day pay Rent is independent of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify every other covenant in reasonable detail the basis of such additional rentthis Lease. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 2 contracts

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

Rent. (a) During the Lease Term, Tenant covenants and agrees to shall pay to Landlord, Landlord the Annual Fixed Rent as rental for the Premises, Annual Basic Rental in the sum set forth in Sect on 1(i). The Annual Fixed Rent shall be payable by Tenant beginning on the Fundamental Lease ProvisionsCommencement Date (unless otherwise provided herein) in monthly installments equal to he Monthly Fixed Rent as set forth in Section 1(q), payable in advance in equal monthly installments on the first day of each full calendar month during month, at the term, the first address set forth in Section 1(q) or at such payment to include rent, prorated on a daily basis, for the period other place as Landlord may direct Tenant by twenty (if any20) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder days prior written notice; and shall be deemed additional rentpayable without prior notice or demand, and without any set-off, deduction or counterclaim whatsoever except as otherwise specifically provided hereinthat Tenant shall receive a credit against Annual Fixed Rent payable under this Lease, which credit shall be equal the aggregate Monthly Fixed Rent (less the Operating Expense Base) actually paid by Tenant to Landlord on the first day pursuant to a previous lease between Tenant and Landlord dated December 17, 1993, for Suite 226 of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such noticeOffice Park, whichever and shall be laterapplied to the installments of Monthly Fixed Rent until such credit is exhausted. Any such notice Tenant shall specify also pay to Landlord, as "Additional Rent" hereunder, the "Operating Expense- Adjustment" (as defined in reasonable detail Section 7.A.), which includes "Real Estate Taxes" (as defined in Section 7.B.), in accordance with the basis provisions of such additional rent. (c) Section 7 hereof, and charges for all electricity consumed upon the Premises pursuant to Section 6 hereof, and all other sums chargeable to Tenant hereunder. All rentals sums payable by Tenant under this Lease, whether or not stated to be Annual Fixed Rent or Additional Rent, are included in and shall be deemed to be "Rent" payable by Tenant to Landlord under this Lease Lease, and shall be paid collectible by Landlord as Rent and in the event of a default in payment thereof, Landlord shall have the same rights and remedies as for a failure to pay Annual Fixed Rent (without prejudice to any other right or remedy therefor). If the Lease Term commences on a day other than the first day of a calendar month, Tenant shall pay to Landlord, on or before the Commencement Date of the Lease Term, a pro rata portion of the Monthly Fixed Rent from such day until the first day of the following month, such pro rata portion to be based on the number of days during the first full calendar month within the Lease Term. Tenant hereby covenants and agrees to pay all Rent when due, and to pay interest to Landlord, as Additional Rent, at the "Overdue Interest Rate" (hereinafter defined) (i) on all overdue installments of Monthly Fixed Rent from the due date thereof to the date of payment and (ii) on all overdue payments of Additional Rent or other sums payable to Landlord at hereunder from the office due date thereof or from the date of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and demand for payment, as the same shall become due and payablecase may be, until the date of payment. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forthAs used herein, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.the

Appears in 1 contract

Sources: Net Lease Agreement (Sparta Pharmaceuticals Inc)

Rent. (a) Tenant covenants All collected rent under leases and agrees other income attributable to pay to Landlord, a Property shall be apportioned on a per diem basis as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments of midnight on the first day of each full calendar month during date immediately preceding the term, the first Apportionment Date. All such payment to include rent, prorated on a daily basis, rent and other income for the period (if any) from preceding the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder Apportionment Date shall be deemed additional rentto be property of the applicable Contributors, and except subject to the provisions of subparagraph (a), above, all rent and other income for any period commencing as otherwise specifically provided herein, of the Apportionment Date and thereafter shall be paid by Tenant to Landlord on the first day property of the month following Operating Partnership for the date on which Landlord notifies Tenant purpose of making the amount payable or on the tenth day after the giving of such notice, whichever shall be lateradjustments set forth herein. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord Amounts owed under this Lease Section shall be paid to Landlord the party to whom they are owed in cash at the office Closing or during the Post-Closing Adjustment Period (as defined below). Except as provided on Schedule 3.3(b)(i) attached hereto, delinquent rent, accounts and notes receivable and other outstanding amounts shall not be prorated, but are hereby assigned to and shall be deemed the property of Landlord herein designated the Operating Partnership. Any amounts received by Contributors on account of rent or other income after the Apportionment Date with respect to such other address and/or person the Property and the related personal property shall be allocated to the Operating Partnership at Closing or company turned over to the Operating Partnership for application in accordance with the terms of this Section, as Landlord may designate from time to time by notice to Tenantapplicable. Tenant will promptly pay all rentals herein prescribed when and as At the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forthrespective Closings, the amount so paid Operating Partnership agrees to assume responsibility for repayment of these security deposits set forth in Schedule 3.3(b)(ii) attached hereto, which the Contributors represent hereby represent and warrant that such schedule includes a true and complete list of all obligations of the landlord under leases affecting the Properties with regard to security, cleaning or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with similar tenant deposits which could become the first installment obligation of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsthe Operating Partnership following the Closing.

Appears in 1 contract

Sources: Master Agreement (Konover Property Trust Inc)

Rent. During the term of this Sublease, Sublessee shall pay as rent ---- (a"Rent") Tenant covenants and agrees to pay to Landlord, as rental for the PremisesPremises an amount equal to the monthly Rent under the Master Lease, Annual Basic Rental in which at the sum set forth in commencement of this sublease is $84,999.99. The Rent shall increase periodically during the Fundamental Lease Provisionsterm pursuant to the same terms and conditions by which Rent shall increase under the Master Lease. Rent shall be paid to Sublessor without demand, payable deduction, set-off or counterclaim, in advance in equal monthly installments on the first day of each full calendar month during the termterm of this Sublease, and in the first such payment to include rentevent of a partial rental month, rent shall be prorated on a daily basis, for the period (if any) from the date of commencement basis of the term number of days in the month. Sublessee shall pay to Sublessor upon the first day of execution hereof the first full calendar month in monthly installment of Rent. In addition to the term. (b) Any sumabove Sublessee shall pay to Sublessor on a monthly basis as Additional Rent all costs and expenses attributable to the Premises payable under the Master Lease, amountas incorporated herein, item or charge including but not limited to utilities, real estate taxes, insurance and other operating expenses which Sublessor is required to pay under the Master Lease. In no event shall Sublessee's obligation to pay Additional Rent exceed the amount attributable to the Premises due and payable by Tenant hereunder Sublessor under the Master Lease. To the extent paid by Sublessee, Sublessee shall be deemed additional rententitled to all credits, if any, given by Master Lessor to Sublessor for Sublessor's overpayments of Additional Rent. Payment of all Rent Additional Rent and except as otherwise specifically provided hereinother amounts due and payable from Sublessee to Sublessor, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under accordance with this Lease shall be paid to Landlord at the office of Landlord herein designated following address, or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same Sublessor shall become due and payable. If Landlord shall pay any monies or incur any expenses instruct the Sublessee in correction of violations of covenants herein set forthwriting: Raytheon Company ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.▇▇ ▇▇▇▇▇-▇▇▇▇ ATTN: ▇▇▇▇▇ ▇▇▇▇▇▇▇

Appears in 1 contract

Sources: Sublease (Concentric Network Corp)

Rent. (a) Tenant Subtent covenants and agrees to pay rent to Sublandlord, at Sublandord’s address shown herein or at such place as Sublandlord shall from time to time designate in writing and otherwise in accordance with the provisions of the Lease, at the Annual Fixed Rental Rate in equal installments of 1/12th the Annual Fixed Rental Rate in advance on the first day of each calendar month included in the Term, and for any portion of a calendar month at the beginning or end of the Term, at that rate payable in advance for such portion. (b) Subtenant covenants and agrees to pay to LandlordSublandlord as Additional Rent, as rental for the Premiseswithin ten (10) days of demand therefor by Sublandlord, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement Subtenant’s Share of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentOperating cost Escalation. (c) All rentals payable Subtenant covenants and agrees to pay to Sublandlord as Additional Rent, within ten (10) days of demand therefor by Tenant Sublandlord, subtenant’s Share of the Real Estate Tax Escalation. (d) Subtenant shall pay directly to the proper authorities charged with the collection thereof of all charges for electricity and (to the extent not otherwise included in Operating Costs) other utilities used or consumed on the subleased Premises by subtenant or any party claiming by, through or under Subtenant. (e) Subtenant covenants and agrees to pay monthly to Landlord all charges due under this the Lease shall for (i) any after-hours heating, air conditioning or ventilation services supplied to Subtenant in connection with the Subleased Premises and (ii) all other services supplied to Subtenant and/or the Subleased Premises beyond the services required to be paid supplied to the Subleased Premises for Sublandlord by Landlord at the office of Landlord herein designated or no additional charge to such other address and/or person or company as Landlord may designate from time to time by notice to TenantSublandlord. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses ▇▇▇▇ Subtenant directly for all such charges referred to in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalspreceding sentence.

Appears in 1 contract

Sources: Sublease Agreement (GlassHouse Technologies Inc)

Rent. 3.1 Tenant shall pay to Landlord the following amounts as rent for the Premises: (a) During the Lease Term, Tenant covenants and agrees to shall pay to Landlord, as rental monthly rent, the base rent specified in the Basic Lease Information (the "Base Rent"). Notwithstanding anything to the contrary contained herein and provided that no default by Tenant occurs under the Lease beyond any applicable notice and cure period, Landlord hereby agrees that Tenant shall not be required to pay Base Rent with respect to the Premises for the first month of the Lease Term, provided that such amount of abated Base Rent shall not exceed $26,126.10. If a default by Tenant occurs under the terms of this Lease that results in termination of this Lease in accordance with the provisions of this Lease, then as a part of the recovery set forth in this Lease, Landlord shall be entitled to the immediate recovery, as of the day prior to such termination, of the Base Rent that was abated under the provisions of this section 3.1(a). (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 Operating Expenses (as hereinafter defined) paid or incurred by Landlord in such calendar year (prorated for any portion of the Lease Term that is less than a full 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 (prorated for any portion of the Lease Term that is less than a full calendar year). (d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the actual cost incurred by Landlord with respect to all electricity, chilled water, air conditioning, gas, fuel, steam, heat, light, power and other utilities consumed within the Premises, Annual Basic Rental as more particularly described herein (all such costs payable by Tenant pursuant to this section 3.1(d) shall be referred to as “Tenant’s Monthly Utility Charge”, and all such amounts shall constitute rent hereunder). (i) All electricity directly serving the Premises (“Direct Electrical Costs”) shall be metered or submetered and Tenant shall pay, as monthly rental, the actual cost (without mark up by Landlord) of all such Direct Electrical Costs either to Landlord as a reimbursement, or, at Landlord’s election, as a payment directly to the entity providing such electricity. Such payments to Landlord of Direct Electrical Costs shall be made within thirty (30) days of Landlord’s delivery of an invoice to Tenant therefor. (ii) With respect to all utility costs for the Premises other than Direct Electrical Costs (collectively, “Other Utility Costs”), Landlord shall have the right, from time to time, to equitably allocate some or all of such Other Utility Costs among different portions or occupants of the Building (“Cost Pools”), in Landlord’s reasonable discretion. Such Cost Pools may include, but shall not be limited to, office space tenants, residential space occupants, and retail space tenants of the sum set forth Building (if any). The utility costs within each such Cost Pool shall be allocated and charged to the tenants within such Cost Pool in an equitable manner. (e) Throughout the Fundamental Lease ProvisionsTerm, Tenant shall pay, as additional rent, all other amounts of money and 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, all additional rent and all other amounts payable by Tenant in advance accordance with this Lease. 3.2 The additional rent payable pursuant to sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof shall be calculated and paid in equal monthly installments on accordance with the following procedures: (a) On or before the first day of each full calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord's estimate of the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the ensuing calendar year. On or before the first day of each month during such ensuing calendar year during the Lease Term, Tenant shall pay to Landlord, as monthly rent, one twelfth of such estimated amounts. If such notice is not given for any calendar year, Tenant shall continue to pay on the basis of the prior calendar year's estimate until the month after such notice is given. If at any time it appears to Landlord that the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the current calendar year will vary from Landlord's estimate, Landlord may, by giving written notice to Tenant, revise its estimate for such calendar year. If Landlord delivers its estimate after the first day of a calendar year, or if Landlord revises its estimate for a calendar year, then subsequent payments by Tenant for such calendar year shall be based on such late or revised estimate, as the case may be, with an appropriate adjustment to the amount of such subsequent payments such that, prior to the end of such calendar year or portion thereof during the Lease Term, Tenant shall have paid Landlord's entire estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year, or applicable portion thereof. (b) Within a reasonable time after the end of each calendar year, but in no event later than 120 days following the end of each calendar year, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year certified by Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall credit the excess to the next succeeding monthly installments payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof, if applicable, or shall be refunded by Landlord to Tenant within thirty (30) days following the date such excess amount has been determined. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such statement. Failure by Landlord to give any notice or statement to Tenant under this section 3.2 shall not waive Landlord's right to receive, and Tenant's obligation to pay, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. During the Lease Term, but in no event more often than once in any one (1) year period, Tenant or its authorized employee or representative shall have the right to inspect the books of Landlord relating to Operating Expenses, Property Taxes and utilities charges, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord's office in the Building or at such other location in Santa ▇▇▇▇▇ County as Landlord may designate, for the purpose of verifying the information in such statement; provided that, if Tenant utilizes an independent accountant to perform such review, then such accountant shall be one of national standing which is reasonably acceptable to Landlord and is not compensated on a contingency basis; and provided further that Tenant shall have no right to inspect such books pertaining to any given period more than one hundred eighty (180) days after Landlord shall have delivered the written statement pertaining to such period. (c) If the Lease Term begins on a day other than the first day of a calendar year, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof applicable to the calendar year in which the Lease Term commences shall be prorated on the basis which the number of days from the Commencement Date of this Lease to and including the end of the calendar year in which this Lease commences bears to three hundred sixty-five (365). 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), 3.1(c), and 3.1(d)(ii) hereof applicable to the calendar year in which the end of the term occurs shall be prorated on the basis which the number of days from the commencement of such calendar year to and including the date on which the end of the term occurs bears to three hundred sixty-five (365). Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be performed after such termination. 3.3 Tenant shall pay all monthly installments of Base Rent and monthly installments of Landlord's estimates of amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof (collectively, "Monthly Rent") to Landlord, in advance, on or before the first day of each and every calendar month during the termLease Term, without notice, demand, deduction or offset, in lawful money of the first United States of America. Landlord instructs Tenant to pay all such payment Monthly Rent to include rentthe address specified therefor in the Basic Lease Information, prorated or to such other person or at such other place as Landlord may from time to time designate in writing. Landlord shall have the 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 daily basis, for the period (if any) from the date of commencement of the term to 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 in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the Term in which monthly Base Rent is payable (i.e., the second full calendar month following the date on which Landlord notifies Tenant of the Term), which amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction apply to the Base Rent for such second full calendar month of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsTerm.

Appears in 1 contract

Sources: Lease (Talis Biomedical Corp)

Rent. (a) Tenant The Rent Commencement Date shall be May 1, 2004, Sublessee covenants and agrees to pay to LandlordSublessor during the term of this Sublease base rent (the “Base Rent”), without deduction or offset and without notice or demand, at the Sublessor’s address, as rental for the Premises, Annual Basic Rental in the sum set forth in Paragraph 14 hereof, or to such other entity or at such other place as Sublessor may from time to time designate in writing as follows: 82 Months $ 24,800.00 $ 10.40 (b) In addition to Base Rent, Sublessee covenants and agrees to pay Sublessor during the Fundamental term of this Sublease the following expense items (collectively, the “Additional Rent”): (a) beginning January 1, 2005, thirty three percent (33%) (“Sublessee’s Proportionate Share”) of any increase in the “Operating Expenses,” as defined in Section 4 of the Lease, incurred by Sublessor pursuant to the terms of the Lease, over the Operating Expenses incurred by Sublessor for the calendar year 2004, which payments shall payable by Sublessee to Sublessor in such amounts and in the same manner as Sublessor is obligated to Landlord for said expenses as set forth in Section 4 of the Lease; (b) beginning on the Commencement Date, any costs, fees or charges owed or payable by Sublessee pursuant to any services provided to Sublessee by Landlord or Sublessor, whether with or without Sublessor’s permission, that are directly related to the Sublet Premises, including, but not limited to electricity, excess electricity or other utilities and any overtime HVAC charges related to the Sublet Premises; and (c) beginning on the Commencement Date, such other sums of money as shall become due and payable by Sublessor to the Landlord pursuant to the Lease Provisionsdue to the actions or inactions of the Sublessee in default of this Sublease or the Lease. The Base Rent and Additional Rent are collectively referred to hereinafter as the “Rent.” Notwithstanding anything contained herein to the contrary, payable although Sublessee shall not be required to pay Sublessee’s proportionate share of Operating Expenses until January 1, 2005, Sublessee shall nevertheless be required to pay for any overtime charges, including, without limitation, electricity and HVAC, or any additional services used by it, as of the Commencement Date. (c) Other than Sublessee’s obligation to pay Sublessee’s share of Operating Expenses, which obligation shall commence as of January 1, 2005, all other Rent shall be paid to Sublessor in advance in equal monthly installments advance, on the first day of each full calendar and every month during throughout the termTerm, commencing on the Commencement Date. If the Term shall commence or end on a day other than the first such payment to include rentday of a month, then the monthly installments of Base Rent for the first and last partial month shall be prorated on a daily per diem basis. Upon the execution of this Sublease, for the period (if any) from the date Sublessee shall pay one monthly installment of commencement of the term to the first day Base Rent on account of the first full calendar month in of the term. Term and a prorated monthly installment of Base Rent for any partial month of the Term that may precede such full calendar month, with the first such monthly payment of Rent being due and payable upon the execution and delivery hereof by Sublessee to Sublessor. If Sublessee fails to pay any installment of Rent within ten (b10) days after same is due, such unpaid amount shall incur a five (5%) late charge, which amount shall be immediately due and payable to Sublessor. Any sum, amount, item or charge payable by Tenant sums not paid as required hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be bear interest from the due date until paid by Tenant in full at a rate equal to Landlord on the first day lesser of (a) the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate highest rate announced from time to time as the prime interest rate by The Wall Street Journal plus three (3) percentage points; or (b) the maximum legal rate allowed by law. If Sublessee makes two (2) consecutive payments of Rent which are returned to Sublessor by Sublessee’s financial institution for insufficient funds, Sublessor may require, by giving written notice to TenantSublessee, that all future payments of Rent shall be made in immediately available funds by cashier’s check or by wire transfer. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay The foregoing is in addition to any monies or incur any expenses in correction other remedies of violations of covenants herein set forth, the amount so paid or incurred shallSublessor hereunder, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected law or enforced as by law provided in respect of rentalsequity.

Appears in 1 contract

Sources: Sublease (Encore Capital Group Inc)

Rent. ‌ 4.1. Beginning on the Effective Date and continuing through the Initial Term, Tenant shall pay to Landlord the following amounts as rent (the “Initial Rent”): (a) Tenant covenants and agrees a sum per month to pay (1) amounts, including those already incurred by Landlord prior to the Effective Date evidenced by written invoices and approved by Landlord, as rental for the Premises, Annual Basic Rental incurred in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement planning or design of the term Project including without limitation, architects’, engineers’, planners’, attorneys’ and other professionals’ fees, (2) costs related to developing the first day of the first full calendar month in the term. Final Construction Drawings; (b3) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving 20% of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be invoiced amounts paid to Landlord to reimburse Landlord’s staff time (including staffing the Design Committee and coordinating work of the architects, engineers and other professionals), administrative costs and overhead, not to exceed 4.2. a. Beginning on the Commencement Date and continuing during the Term, Tenant shall pay to Landlord rent in the amount per month that will match the amortization schedule for the Bonds (corresponding to the Bond Term as defined above) as provided by the USDA, or as provided by bond counsel on the Bonds based on the Bond Term and the interest rate and other information provided by the USDA in its approval of the financing, or as otherwise provided by bond counsel if the Bonds are not issued pursuant to the USDA rural development program (“Base Rent”). In no event shall the amount of the Base Rent payable on any date be less than, or exceed, the aggregate amount of principal, interest, reserve replenishment, indemnity, fees, costs and expenses required to be paid or prepaid on such date with respect to the Bonds, according to their tenor or as otherwise specified in the Bond Resolution. The obligation of Tenant to pay Base Rent shall commence on the Commencement Date. To secure the performance of its obligation to pay Base Rent, Tenant shall deposit with the Landlord, the Base Rent at the office of Landlord herein designated or least two (2) days before each Base Rent payment date. The Base Rent and Initial Rent are also referred to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and collectively hereinafter as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals“Rent”.

Appears in 1 contract

Sources: Building Lease Agreement

Rent. (a) Tenant covenants Subject to the provisions below, commencing on the Commencement Date and agrees to pay to Landlord, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the termthereafter, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month Tenant shall pay Minimum Rent in the term. amount stated in Section 1.4, in advance without notice (b) Any sumall amounts, amountincluding Minimum Rent, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall to be paid by Tenant pursuant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease as the context requires are sometimes referred to collectively as "Rent(s)"). Rents shall be paid to Landlord without set off, abatement, or diminution, at the management office of Landlord herein designated in the Building, or to at such other address and/or person or company place as Landlord may designate from time to time designates in writing. Notwithstanding the foregoing, Tenant shall have the right to occupy the Premises without payment of Minimum Rent for the first month following the Commencement Date (the "Deferred Rent Period"). It is agreed that the Rent payable under this Lease is allocable to, and shall be accrued by notice the parties during, their fiscal periods in which the same is actually paid. Landlord and Tenant agree that no portion of the Minimum Rent paid by Tenant during the Initial Term occurring after the expiration of the Deferred Rent Period will be allocated by Landlord or Tenant to Tenantsuch Deferred Rent Period, nor is such Rent intended by the parties to be allocable to the Deferred Rent Period. If for any reason at any time during the Term Tenant is in default hereunder, which default is not cured within any applicable cure periods, Tenant shall owe to Landlord, in addition to all other amounts otherwise set forth herein, all amounts of Minimum Rent deferred pursuant to this Section. Such amounts shall be immediately due and payable upon the occurrence of any such default. Tenant will promptly shall have no obligation to pay all rentals herein prescribed when and as such amounts if no Event of Default has occurred prior to the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction expiration of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsTerm.

Appears in 1 contract

Sources: Office Lease (Telecom Wireless Corp/Co)

Rent. (a) 4.1 The Tenant covenants and agrees to shall pay to Landlord, as rental for the Premises, Annual Basic Rental in the sum Landlord at die address set forth in Paragraph 50.1, in lawful money of Canada and without any deduction, set off or abatement, throughout the Fundamental Lease ProvisionsTerm an annual minimum rent (the "RENT"), payable in advance in equal monthly installments advance, on the first day of each full calendar month during throughout the termTerm as follows: $103,575.00 per annum, the first such payment to include rentpayable in equal consecutive monthly instalments of $8,631.25 in advance, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the each month following the date on which Landlord notifies Tenant during each year of the amount payable or 5 years of the Term. The aforesaid Rent is calculated on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall a net rent of: $12.50 per square fool of Gross Leasable Area of the Leased Premises per annum for each of the 5 years of the Term. Rent and Additional Rent may be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate adjusted from time to time by notice the Landlord, if necessary, to Tenantconform with changes in the Gross Leasable Area of the Leased Premises. Subject to Section 2.2, a certificate of the Landlord's Architect to that effect shall be conclusive, SAVE FOR MANIFEST ERROR, SHALL BE ADDRESSED TO BOTH LANDLORD AND TENANT. 4.2 The Tenant will promptly covenants with the Landlord to pay all rentals herein prescribed when Rent and Additional Rent and such oilier amounts for which the Landlord may be entitled to demand payment from the Tenant pursuant to the provisions of this Lease without any deduction, setoff or abatement. Rent and Additional Rent arc reserved by the Landlord and payable by the Tenant in consideration for the demise and lease of the Leased Premises hereunder. The Landlord shall, in addition to any other right or remedy available to the Landlord, have the same rights and remedies in the event of default by the Tenant in the payment of Additional Rent as the same shall Landlord would have in the event of default by the Tenant in the payment of Rent. All Additional Rent payable by the Tenant to the Landlord pursuant to this Lease shall, unless otherwise provided herein, become due and payablepayable with the next monthly instalment of Rent. Where the calculation of any Additional Rent is not made until after the expiration or earlier termination of this Lease, the obligation of the Tenant to pay such Additional Rent shall survive such expiration or earlier termination and such amount shall be payable by the Tenant after final determination and upon demand by the Landlord. 4.3 Landlord acknowledges that the TENANT has provided to Royal LePage Commercial Inc. (the "LEASING AGENT"), in trust for the Landlord a deposit equal to the sum of thirty-eight thousand two hundred and seventy one dollars and sixty-five cents ($38,271.65) (the "DEPOSIT") to be applied to the first and last months' Rent and Additional Rent payable by the Tenant hereunder. Provided that if, at any time during the term, Rent is overdue and unpaid, or if the Tenant fails to keep or perform any of the terms, covenants and conditions of this Lease to be kept, observed and performed by the Tenant, then, the Landlord, at its option, may, in addition to any and all other rights and remedies provided for in this Lease or by law, appropriate and apply the balance of the Deposit (the "BALANCE") or so much thereof as if necessary to compensate the Landlord for loss or damage sustained or suffered by the Landlord due to such breach on the part of the Tenant. If the Balance or any portion thereof is appropriated and applied by the Landlord for the payment of overdue Rent or Additional Rent, then the Tenant shall, forthwith after demand by the Landlord, remit to the Landlord a sufficient amount in cash to restore the Balance to the original sum deposited and the Tenant's failure to do so forthwith after receipt of such demand constitutes a breach of this Lease. 4.4 The Landlord shall pay deliver the Balance to any monies or incur any expenses in correction purchaser of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, interest in the Leased Premises and on notice the Development if such interest is sold and thereafter the Landlord shall be discharged from any further liability with respect to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced Deposit so long as by law provided in respect of rentalsthe purchaser has assumed the Landlord's obligations hereunder.

Appears in 1 contract

Sources: Net Office Lease (Viventia Biotech Inc.)

Rent. (a) 7.1 Tenant covenants and agrees to shall pay to Landlord, Landlord as rental Base Rent for the Premises, Annual Basic Rental in commencing on the sum Term Commencement Date, the sums set forth in Section 2.3, subject to the Fundamental Lease Provisions, payable rental adjustments provided in advance Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each full and every calendar month during the term, Term; provided that Base Rent for the Premises shall be abated during the first such payment to include rent, prorated three (3) months of the Term (the “Base Rent Abatement Period”). In the event that the Term Commencement Date occurs on a daily basisday other than the first day of a calendar month, for the period (if any) from the date of commencement of the term to then monthly Base Rent payable on or before the first day of the first full last month of the Base Rent Abatement Period shall be a prorated amount based on the actual number of days in such calendar month in following the termexpiration of the Base Rent Abatement Period. For purposes of clarity, Tenant shall be responsible for all other Rent due pursuant to the terms of this Lease during the 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) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, the Property Management Fee (as defined below) and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by any other amounts that Tenant assumes or agrees to Landlord pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. 7.3 Base Rent and Additional Rent shall together be denominated “Rent.” Except as otherwise expressly set forth in this Lease, Rent shall be paid to Landlord Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord herein designated as set forth in Section 2.8 or to such other address and/or person or company at such other place as Landlord may designate from time to time by notice to Tenantdesignate in writing. Tenant will promptly pay all rentals herein prescribed when and as In the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, event the amount so paid or incurred shall, at Landlord's option, and Term commences on notice to Tenant, be considered additional rentals, payable by Tenant with a day other than the first installment day of rent thereafter becoming due a calendar month or the Term ends on a day other than the last day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and payableshall be paid at the then-current rate for such fractional month. 7.4 Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any Applicable Laws now or hereafter applicable to the Premises, and may be collected (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or enforced as by law provided taking or (d) any other occurrence. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect of rentalsto any other period.

Appears in 1 contract

Sources: Lease (NanoString Technologies Inc)

Rent. (a) 4.1 Tenant covenants promises and agrees to pay to Landlord at Landlord, as rental for the Premises, Annual Basic Rental in the sum 's address set forth in the Fundamental Lease, or such other address as Landlord may provide to Tenant, the Base Rental and all other rent charged under this Lease Provisionswithout deduction or set off, for each month of the entire Lease Term. The first monthly installment of Base Rental shall be payable by Tenant to Landlord contemporaneously with the execution of the Lease, and thereafter, a monthly installment of Base Rental, as may be adjusted in advance accordance with the provisions of the Lease, shall be due and payable, in equal monthly installments advance, without notice or demand on or before the first day of each full succeeding calendar month during the term, Lease Term. The Base Rental for any fractional month at the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement beginning or end of the term to the first day Lease Term shall be prorated. 4.2 The Base Rental is determined, in part, on Landlord's estimate of Basic Costs incurred by Landlord each year in connection with its ownership, operation and management of the first full calendar month in Building. In the term. (b) Any sumevent that the Basic Costs increase, amountor are estimated by Landlord to increase, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant above the levels charged to Landlord on the first day Date of the month following Lease, Landlord shall charge to Tenant and Tenant agrees to pay as additional rental Tenant's Pro Rata Share of any such increases in Basic Costs in accordance with the date on which Landlord notifies Tenant provisions of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentExhibit "C". (c) All rentals payable by Tenant to Landlord under this Lease 4.3 The Security Deposit shall be paid to Landlord at contemporaneously with the office execution of the Lease. Landlord herein designated shall hold the Security Deposit without liability for interest and as security for the performance by Tenant of Tenant's covenants and obligations under the Lease, it being expressly understood that such deposit shall not be considered an advance payment of rental or to such other address and/or person or company as a measure of Landlord's damages in case of default by ▇▇▇▇▇▇. Upon the occurrence of any Event of Default by ▇▇▇▇▇▇, Landlord may designate may, from time to time time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrearage of rent and any other damage, injury, expense or liability caused to Landlord by notice such Event of Default. Following any such application of the Security Deposit, Tenant shall pay to TenantLandlord on demand the amount so applied in order to restore the Security Deposit to its original amount. If Tenant will promptly pay all rentals herein prescribed when and as is not then in default of this Lease, any remaining balance of the same Security Deposit shall become due and payablebe returned by Landlord to Tenant upon termination of the Lease. If Landlord transfers its interest in the Premises during the Lease Term, Landlord may assign the Security Deposit to the transferee and thereafter shall have no further liability for the return of the Security Deposit. 4.4 Tenant hereby acknowledges that late payment to Landlord of rent due hereunder will cause Landlord to incur costs and inconvenience not contemplated by the Lease, the exact amount of which will be extremely difficult to ascertain. If any rent due from Tenant is not received by Landlord or Landlord's designated agent within ten (10) days after its due date, then Tenant shall pay to Landlord as a late charge ten percent (10%) of such overdue amount, plus any monies attorney's fees incurred by Landlord by reason of Tenant's failure to pay rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of Tenant's late payment. ▇▇▇▇▇▇▇▇'s acceptance of such late charges shall not constitute a waiver of ▇▇▇▇▇▇'s default with respect to such overdue amount or incur estop Landlord from exercising any expenses of the other rights and remedies granted hereunder. 4.5 All payments required of Tenant under the Lease shall bear interest, beginning on the day after the due date until paid at the lesser of twelve percent ( 12 %) per annum or the maximum lawful rate ("Default Interest"). In no event, however, shall the charges permitted under this paragraph or elsewhere in correction the Lease, to the extent the same are considered to be interest under applicable law, exceed the maximum lawful rate of violations interest. 4.6 No payment by Tenant or receipt by Landlord of covenants herein set fortha lesser amount than the rent due under this lease shall be deemed to be other than on account of the earliest rent due hereunder, the amount so paid nor shall any endorsement or incurred shallstatement on any check or any letter accompanying any check or payment as rent be deemed an accord and satisfaction, at and Landlord may accept such check or payment without prejudice to Landlord's option, and on notice right to Tenant, be considered additional rentals, payable by Tenant with recover the first installment balance of such rent thereafter becoming due and payable, and may be collected or enforced as by law to pursue any other remedy provided in respect of rentalsthis lease or at law or in equity.

Appears in 1 contract

Sources: Office Lease (Phymed Inc)

Rent. (a) Beginning on the Commencement Date, Tenant covenants and agrees to pay to Landlord, as rental for the Premises, Annual Basic Rental in the sum Base Rent set forth in Section 1(J) to the Fundamental Lease ProvisionsPayee specified in Section 1(L), payable at the address specified in advance Section 1(M), or to such other payee or at such other address as may be designated by notice in writing from Landlord to Tenant, without prior demand therefor and without any deduction whatsoever. Base Rent shall be paid in equal monthly installments in advance on the first day of each full calendar month during of the termTerm, except that the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date installment of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, Base Rent shall be paid by Tenant to Landlord on upon execution of this Sublease by Tenant. Base Rent shall be pro-rated for partial months at the first day beginning and end of the month following Term. The Base Rent is not scheduled to be adjusted under the date on which Prime Lease; in the event the Landlord notifies Tenant subleases unused portions of the amount payable or on premises during the tenth day after Term such that shared expenses and any other costs can be re-allocated among all sub-lessees, then the giving of such notice, whichever Base Rent shall be lateradjusted to reflect such savings or cost avoidance. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable charges, costs and sums required to be paid by Tenant to Landlord under this Lease Sublease in addition to Base Rent shall be paid deemed "Additional Rent", and Base Rent and Additional Rent shall hereinafter collectively be referred to Landlord at the office as "Rent". Tenant's covenant to pay Rent shall be independent of Landlord herein designated or to such every other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payablecovenant in this Lease. If Landlord Rent is not paid when due, Tenant shall pay any monies or incur any expenses in correction of violations of covenants herein set forthpay, relative to the delinquent payment, an amount so paid or incurred shall, at Landlord's option, and on notice equal to Tenant, the sum which would be considered additional rentals, payable by Tenant with Landlord to Prime Landlord for an equivalent default under the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsPrime Lease.

Appears in 1 contract

Sources: Purchase Agreement (Stockgroup Information Systems Inc)

Rent. (a) Tenant covenants All sums due under this Sublease in addition to Fixed Annual Rent (as hereinafter defined) are herein referred to as "Additional Rent"; Fixed Annual Rent and agrees Additional Rent are herein collectively referred to as "Rent". Sublessee's covenant to pay Rent is independent of any other covenant, agreement, term or condition of this Sublease. (b) All Rent payable to LandlordSublessor hereunder shall be paid to Sublessor at its offices located at ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: Controller, or such other place as rental Sublessor may designate, in writing, in lawful money of the United States of America, without demand, deduction, offset or abatement, except as herein expressly provided. Sublessee may, at its option, make payment to Sublessor by wire transfer in accordance with the wire instructions on Exhibit "C" attached hereto and hereby made a part hereof. The first full monthly installment of Rent shall be delivered to Sublessor by Sublessee upon execution of this Sublease by Sublessee. If the first month of the Sublease Term is a partial month, the installment of Rent payable for the Premisessecond month of the Sublease Term shall be prorated, based on the number of days of the Sublease Term falling within the first calendar month of the Sublease Term, and such prorated amount shall be payable as the second monthly installment of Rent due and payable hereunder. (c) Beginning on the Sublease Commencement Date, and subject to abatements as hereinafter provided, Sublessee shall pay to Sublessor annual fixed rent ("Fixed Annual Basic Rental in the sum set forth in the Fundamental Lease ProvisionsRent"), payable in advance without notice or demand and without deduction or set- off, in equal monthly installments on the first day of each full calendar month during throughout the termSublease Term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month accordance with following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.schedule:

Appears in 1 contract

Sources: Sublease Agreement (Eyetech Pharmaceuticals Inc)

Rent. (a) Tenant covenants and agrees shall pay an annual base rent (herein called “Base Rent”) to pay to Landlord, as rental Landlord for the Premises, Annual Basic Rental Premises in the sum set forth amount stipulated in Exhibit C payable in monthly installments (herein called “Monthly Base Rent”) in the Fundamental Lease Provisionsamount stipulated in Exhibit C, payable in advance in equal monthly installments beginning on the Commencement Date and on the first day of each full calendar month during thereafter of the termTerm (subject to any rent abatement set forth herein), and at the same rate prorated for fractions of a month if the Term shall begin on any date except the first such payment to include rentday, prorated or shall end on a daily basis, for any day except the period (if any) from the date of commencement of the term to the first last day of a calendar month. Base Rent, Additional Rent (as hereinafter defined), Additional Rent Progress Payments (as hereinafter defined) and all other amounts becoming due from Tenant to Landlord herein (herein collectively called the first full calendar month in the term. (b“Rent”) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by in lawful money of the United States of America in immediately available funds to Landlord. Landlord hereby authorizes Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant pay Rent and all other sums due and owing to Landlord under this Lease shall be paid hereunder, either by wire transfer or check, to Landlord at the office of Landlord herein designated the Building, or to such other person, entity or address and/or person or company as Landlord may designate otherwise designated from time to time by written notice from Landlord to Tenant. Tenant will promptly The obligation to pay all rentals herein prescribed when Rent hereunder is independent of each and as the same shall become due every other covenant and payable. If Landlord shall pay any monies or incur any expenses agreement contained in correction of violations of covenants herein set forth, the amount so paid or incurred this Lease and shall, at Landlord's option, and on notice to Tenantexcept as otherwise set forth herein, be considered additional rentalspaid without any setoff, payable abatement, counterclaim, recoupment or deduction; provided, however, notwithstanding anything contained in this Lease to the contrary, Tenant shall be entitled to: (i) offset against Rent (and any other amounts owed by Tenant to Landlord pursuant to this Lease), any overpayments of the estimated payments made by Tenant with respect to Additional Rent (including, without limitation, any Additional Rent Progress Payments), as disclosed on the first installment applicable Landlord’s Expense Statement or Landlord’s Taxes Statement (if any) or determined pursuant to a contest as provided in Section 2(f), any other unappealable final judgment amounts determined by a court or arbitrator of rent thereafter becoming due and payablecompetent jurisdiction to be owed by Landlord to Tenant under this Lease, if the same are not paid when due, and may be collected any amounts incurred by Tenant pursuant to Tenant’s self-help rights in accordance with Section 18 and/or (ii) cure any Landlord Default as permitted under Section 18 or enforced as by law provided in respect of rentalselsewhere under this Lease.

Appears in 1 contract

Sources: Office Lease (Wells Real Estate Investment Trust Inc)

Rent. The monthly portion of Basic Annual Rent, all Common Area Expenses and all other amounts and expenses considered “additional rent” or otherwise due Landlord or other parties pursuant to the Lease shall collectively be referred to herein as the “Total Rent”. Beginning October 1, 2006, and on the first (a1st) Tenant covenants calendar day of every calendar month thereafter during the Term, Subtenant shall pay to Sublessor without right of offset, the Total Rent due to Landlord or other third parties under the Lease and, to the extent received from Subtenant, Sublessor shall remit same to Landlord on or before the date such rental payments are due. Sublessor shall not be in default hereunder for the failure to pay Landlord sums due under the Lease if said amounts are not received by Sublessor from Subtenant. Sublessor shall be responsible for the July portion of the Total Rent. On or before August 1, 2006 and September 1, 2006, Subtenant shall pay to Sublessor, without right of offset, all rent considered “additional rent” pursuant to the Lease together with all other amounts due under the Lease to Landlord or other third parties arising after the Commencement Date, which term includes without limitation, all Common Area Expenses, utilities, taxes and third party service providers, including but not limited to landscapers, HVAC repair, elevator service and janitorial services arising after the Commencement Date (collectively, “Service Providers”). Prior to August 1, 2006, Subtenant shall provide Sublessor written evidence that Subtenant has contracted with all utility and Service Providers with respect to the Subleased Premises and shall have all utilities and contracts with Service Providers to the Leased Premises held in the name of Subtenant (reflecting Subtenant to be solely responsible for the payment for services/utilities rendered said utility or Service Provider). From and after August 1, 2006, Subtenant shall also be responsible for payment of all utilities and Service Providers to the Leased Premises to the extent said utilities and services were provided from and after August 1, 2006. Subtenant shall pay said utilities directly to the provider of said utilities, and provide a copy of the utility payment to Sublessee for the month of August on or before the date said payment is due. Furthermore, and in addition to the foregoing payments set forth above, beginning on October 1, 2006 and on the first calendar day of each calendar month thereafter, Subtenant agrees to pay to Sublessor without right of offset, the amount of $4,128.01 which amount reflects the monthly repayment of Basic Annual Rent paid by Sublessor during the months of August and September (collectively referred to herein as the “Rent Advance”). In the event this Sublease terminates prior to the expiration of the Term, Subtenant shall remain obligated to pay Sublessor the unamortized portion of the Rent Advance. Time is of the essence with the payments called for under this Sublease and Subtenant shall pay Sublessor all penalties and late fees called for under the Lease (owing to Landlord, as rental for the Premises, Annual Basic Rental ) in the sum set forth event any payment required to be paid by Subtenant is late. In addition, any payment to Sublessor due and owing under this Sublease that is late shall bear interest at the rate provided in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following said payments are due until the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable amounts owing by Tenant to Landlord under this Lease shall be Subtenant are paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsSublessor.

Appears in 1 contract

Sources: Sublease Agreement (Osiris Therapeutics, Inc.)

Rent. (a) Tenant covenants and agrees to Subtenant shall pay to Landlord, as rental for the Premises, Annual Basic Rental Sublandlord in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments during the Term of this Sublease on or before the first day of each full every calendar month during the termTerm Subtenant's Building Share of any and all costs, expenses, claims, liabilities, losses, actions, causes of action, judgments (as such are internally accounted for by Sublandlord) actually incurred in the ownership, use, maintenance and/or operation of the Building ("Rent"). The parties agree that the Rent charged to Subtenant shall be consistent with Sublandlord's then current accounting practices, which shall be in conformity with GAAP. The terms "Building Share" shall mean a fraction, the first such payment numerator of which is the number of rentable square feet within the Subleased Premises, and the denominator of which shall be the total number of rentable square feet within the Building. The parties agree that Subtenant's initial Building Share is equal to include rent52.70% and Subtenant's Building Share as determined herein shall be modified, prorated based on a daily basisany increase or decrease in the number of rentable square feet within the Subleased Premises as permitted under this Sublease. The parties also agree that, by way of example only and not of limitation, Exhibit "F" attached hereto shows the parties' initial estimate of Rent for the period (if any) from the date of commencement first year of the term Term but such Exhibit shall not limit or define Rent, but is merely an illustration as to the first day calculation of Rent. If Sublandlord obtains a Replacement, Subtenant shall continue its occupancy of the first full calendar month Subleased Premises (pursuant to Section 2.3) for the period, which ends five (5) years after the Effective Date, and Subtenant shall be responsible for paying the newly calculated Rent, which shall include an additional amount equal to Subtenant's Building Share of the costs incurred in connection with the renegotiation, including, without limitation, interest on Sublandlord's equity investment in the term. (b) Any sumBuilding, amountinterest on any debt encumbering the campus, item or charge payable attorneys' fees, and any and all other costs and expenses incurred by Tenant hereunder Sublandlord in connection with such Replacement. Upon completion by Sublandlord of "Sublandlord's Work" described in Exhibit "E" hereto, Sublandlord shall determine the amount of depreciation permitted to be taken thereon monthly during the Term, which amount shall be deemed additional rentadded to the Rent payable hereunder. Sublandlord shall provide notice of such monthly increase in Rent, and except as otherwise specifically provided herein, thereafter Subtenant shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of pay Rent in the amount payable or on set forth in Sublandlord's notice. In the tenth day event such notice is delivered after the giving Effective Date, Subtenant shall pay to Sublandlord, within thirty (30) days after receipt of such notice, whichever shall be later. Any such additional Rent due for any month prior to and including the month in which such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord is given. In all cases, Subtenant's obligations under this Lease Section 5.1 shall be paid not include any "accelerated" payments related to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsamortized costs described herein.

Appears in 1 contract

Sources: Sublease (Mindspeed Technologies Inc)

Rent. (a) Tenant covenants and agrees During the Term of this Lease, Lessee shall pay the basic rent provided for in Schedule B annexed hereto (Basic Rent) to pay Lessor (or to Landlordany ---------- other party as Lessor may from time to time specify in writing), by bank wire transfer or electronic funds transfer (including automated clearinghouse transfers) of immediately available federal funds initiated before 10:30 A.M., Eastern Time, at Lessor's address set forth above, or at such other place within the continental United States to which bank wire or electronic funds transfers can be made, as rental for Lessor may from time to time designate to Lessee in writing. Basic Rent during the Premises, Annual Basic Rental Term and any Renewal Term shall be due and payable by Lessee in installments in the sum amounts set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments Schedule B on the first day of each full calendar month during the term, the first such payment to include rent, prorated dates set forth in Schedule B (Installment Payment Dates). If any Installment Payment ------------------------- Date falls on a daily basisday that is not a Business Day, for Basic Rent shall be due and payable on the period (next succeeding Business Day without interest or penalty if any) from paid on such Business Day. In the date event of commencement of the term any assignment by Lessor to an Assignee pursuant to the first day provisions of the first full calendar month paragraph (b) of Article 20 hereof, all payments that are assigned to such Assignee, whether Basic Rent, Additional Rent or otherwise, shall be paid in the termsuch manner and in such place as shall be designated by Lessor or such Assignee. (b) Any sumAll amounts that Lessee is required to pay or discharge pursuant to this Lease in addition to Basic Rent (including, amountwithout limitation, item amounts payable as the Purchase Price, Termination Value or charge other amounts for each Leased Property pursuant to any provision hereof, any Adjustment Price or Maximum Lessee Risk Amount payable by Tenant hereunder shall be deemed additional rentpursuant to Article 30, and except any Reinvestment Premium, any amounts payable pursuant to Article 21 hereof or as otherwise specifically provided herein, shall be paid by Tenant liquidated damages pursuant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. paragraph (c) All rentals of Article 22 hereof and any indemnity payments payable pursuant to Articles 8 and 9 hereof), together with every fine, penalty, overdue interest and cost which may be added for nonpayment or late payment thereof, shall constitute additional rent hereunder (all of the foregoing, Additional Rent). In the event of any failure by Tenant Lessee to Landlord under this Lease pay or --------------- discharge any such Additional Rent, Lessor shall be paid have all rights, powers and remedies provided for herein or by law or otherwise in the case of nonpayment of Basic Rent. Lessee shall pay Additional Rent to Landlord at the office of Landlord herein designated Lessor (or to such any other address and/or person or company party as Landlord Lessor may designate from time to time specify in writing) in the same manner specified for the payment of Basic Rent or, with respect to portions of Additional Rent payable to third parties, Lessee may pay such portions of Additional Rent directly to the Persons entitled thereto. Lessee also covenants to pay to Lessor on demand as Additional Rent, interest at the Overdue Rate, but in no event greater than the maximum rate permitted by notice applicable law, on (i) all overdue installments of Basic Rent from the due date thereof until paid in full, (ii) all overdue amounts of Additional Rent, arising out of obligations which Lessor shall have paid on behalf of Lessee pursuant to Tenant. Tenant will promptly Article 21 hereof or otherwise from the date of such payment by Lessor until paid in full and (iii) each other sum required to be paid by Lessee hereunder which is overdue, including without limitation, any Maximum Lessee Risk Amount or portion thereof, Purchase Price, Termination Value or other amounts for the Leased Properties, Adjustment Price, any Reinvestment Premium, and any amounts payable pursuant to Article 21 hereof or as liquidated damages pursuant to paragraph (c) of Article 22 hereof, from the date such sum was due until the date received by the Person entitled thereto. (i) The Termination Values, (ii) the Purchase Price, and (iii) the Maximum Lessor Risk Amount and the Maximum Lessee Risk Amount, in each case, shall be at least sufficient at all times during the Maximum Lease Term to pay all rentals herein prescribed when outstanding principal and as accrued and unpaid interest under the same shall become due and payable. If Landlord shall indebtedness evidenced by the Notes, to pay any monies or incur any expenses in correction of violations of covenants herein set forth, to Lessor the amount so paid or incurred shallof the outstanding Equity Investment and accrued and unpaid Equity Return and to pay the Reinvestment Premium, at Landlord's option, and on notice to Tenant, be considered additional rentalsif any, payable by Tenant with under the first installment of rent thereafter becoming due Notes and payable, and may be collected or enforced as by law provided in respect of rentalsthe Equity Investment. The foregoing shall in no event constitute or be construed as a guarantee by Lessee of the Notes and/or the Equity Investment.

Appears in 1 contract

Sources: Lease Agreement (Capital One Financial Corp)

Rent. (a) Tenant covenants and agrees shall pay a base rent of $10.00 per annum (the “Base Rent”) to pay to Landlord, as rental for the Premises, Annual Basic Rental Landlord annually in advance. The first annual installment thereof in the sum set forth in the Fundamental Lease Provisions, amount of $10.00 shall be payable in advance in equal monthly installments on the first day Commencement Date, and each subsequent installment of Base Rent shall be payable on each full calendar month anniversary of the Commencement Date occurring during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the termTerm. (b) Any sumThis Lease is intended to be an absolute net lease such that this Lease shall yield all Base Rent payable hereunder as an absolutely net return to Landlord. Accordingly, amountTenant shall pay as additional rent hereunder all taxes, item or charge payable insurance, assessments, utilities, maintenance, repair and compliance costs, and all other costs, expenses and obligations of every kind and nature whatsoever relating to the use of the Premises that may be incurred during the Term hereof. At all times during which the Premises and the parcel adjacent thereto that is presently owned by Landlord (the “Adjacent Parcel”) constitute the same tax parcel, the taxes assessed on the unimproved land comprising the Premises and the Adjacent Parcel will be equitably adjusted such that Tenant hereunder shall pay 50% of the aggregate taxes attributable to such unimproved land and Landlord shall pay the balance (it being acknowledged and agreed that in the event the taxes attributable to such land are increased due to the value of any improvements on the Adjacent Parcel, Tenant’s share of such taxes shall be deemed additional rent, and except as otherwise specifically provided herein, adjusted such that no portion of any such increase attributable to the value of such improvements shall be paid by Tenant to Landlord on the first day responsibility of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentTenant). (c) All rentals costs and expenses which ▇▇▇▇▇▇ assumes or agrees to pay and any other sum payable by Tenant pursuant to Landlord under this Lease shall be deemed additional rent (“Additional Rent”), whether or not so designated herein (Base Rent and Additional Rent are sometimes collectively referred to herein as the “Rent”). The Rent shall be paid in lawful money of the United States of America to the Landlord at the office of Landlord herein designated or to such other address and/or person or company at such other place as Landlord may designate from time to time by designate in writing, without any prior notice to Tenant. Tenant will promptly pay all rentals herein prescribed when or demand therefor and as without deduction or offset. (d) If any Rent is not paid within ten (10) days after notice that the same shall become due and payable. If Landlord is delinquent, Tenant shall pay any monies or incur any expenses in correction Landlord a late charge of violations five percent (5%) of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsdue.

Appears in 1 contract

Sources: Lease

Rent. (a) Tenant covenants and agrees to Subtenant shall pay to LandlordSublandlord, as rental for throughout the PremisesSublease Term, Annual Basic Rental 57.33% of the "Fixed Rent" per annum provided to be paid with respect to the Additional Space pursuant to the Amendment (the "Base Rent"). The Base Rent shall be payable by Subtenant to Sublandlord, in the sum set forth in the Fundamental Lease Provisionsadvance, payable in advance in equal consecutive monthly installments which are due and payable on or before the date that is five (5) business days preceding the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the termSublease Term. (b) Any sumSubtenant shall also pay to Sublandlord, amountthroughout the Sublease Term as additional rent ("Additional Rent"), item or charge all additional rent and other charges due under the Lease which is attributable to the Subleased Premises. The additional rent and other charges which is attributable to the Subleased Premises shall be (i) 57.33% of the amounts set forth in the Amendment, and (ii) to the extent not set forth in the Amendment shall be determined by dividing the total payments payable by Tenant hereunder Sublandlord under the Lease by the rentable square feet of the Premises and multiplying the quotient by the number of rentable square feet in the Subleased Premises. Subtenant shall be deemed additional rent, responsible for both any estimated payments of Additional Rent and except as otherwise specifically provided herein, any reconciliation payments of Additional Rent which are payable by Sublandlord pursuant to the Lease. Appropriate prorations shall be paid by Tenant made with respect to any partial calendar years included in the Sublease Term. Sublandlord shall notify Subtenant of any such estimated amounts and any reconciliation amounts promptly upon Sublandlord's receipt of notice from Landlord on the first day of the month following amounts due with respect to the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever entire Premises. Subtenant shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentmake all Additional Rent payments to Sublandlord upon demand. (c) All rentals payable by Tenant to Landlord under this Lease Subtenant shall be paid solely responsible for any costs or charges attributable to Landlord at the office of Landlord herein designated Subleased Premises during the Sublease Term for items such as damage repair, extra or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenantafter-hours HVAC service, extra janitorial services, excess electrical consumption, light bulb replacement and the like. Tenant will promptly pay all rentals herein prescribed when and as the same Subtenant shall become due and payable. If Landlord shall also pay any monies or incur and all tax due with respect to Rent (as such term is hereinafter defined) pursuant to the laws of New York and/or any expenses political subdivision thereof; provided, however, that Subtenant shall not be responsible for the payment of any tax levied on Sublandlord that is in correction the nature of violations an income tax. (d) The Base Rent, Additional Rent and all charges due by Subtenant under subparagraph (c) of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice this Article "3" are collectively referred to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced in this Sublease as by law provided in respect of rentals"Rent".

Appears in 1 contract

Sources: Sublease Agreement (Modem Media Poppe Tyson Inc)

Rent. (a) During the term of this lease, Tenant covenants shall pay minimum rent ("Rent") as follows: From the Commencement Date to and agrees to pay to Landlordincluding the Expiration Date, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, Rent shall be payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term$64,786.67. (b) Any sumAdditionally, amountshould the Commencement Date be a date other than the first day of a calendar month, item or charge Tenant shall pay a pro rata portion of the Rent on a per diem basis, based upon the second full calendar month of the Term. The rent payable for such partial month shall be in addition to the Rent payable pursuant to the Rent schedule set forth above. (c) The minimum rent hereinabove provided for shall be in addition to all other payments to be made by Tenant hereunder as herein provided except as set forth to the contrary in this lease. It is the purpose and intent of the parties hereto that the minimum rent shall be absolutely net to Landlord, except as set forth to the contrary in this lease so that this lease shall yield, net to the Landlord, the minimum rent, and that all costs, expenses and obligations of every kind and nature whatsoever relating to the Demised Premises which may arise or become due during the term of this lease shall be paid by Tenant and that Landlord shall be indemnified and saved harmless by Tenant from and against the same. (d) Any sums of money required to be paid by Tenant to Landlord in addition to the rent reserved under this Paragraph 43, shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by without deduction or offset, and in the event Tenant fails to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of pay such additional rent, Landlord shall be entitled to the same remedies under this lease or by law, as are available to Landlord for the nonpayment of rent, including, without limitation, summary dispossess proceedings. (ce) All rentals Tenant is hereby authorized and directed to make all payments of Rent and additional rent and other amounts payable by Tenant as follows:(i) if payment is made by wire transfer, wired to M&T Bank, Buffalo, New York, ABA# ▇▇▇▇▇▇▇▇▇, Account#11000911296 Account Name: REP 80 Arkay Drive LLC, or (ii) if payment is made by check, mailed by regular US mail, to c/o Rechler Equity Partners, ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇. (f) The parties are entering into this lease as part of a sale-leaseback transaction, whereby Tenant is assigning its leasehold interest in the Real Property to Landlord under this Lease and is leasing back the Demised Premises from Landlord. Tenant is providing Landlord with purchase money financing in connection with such transaction, which financing will be secured by a mortgage against the Real Property (the "Purchase Money Mortgage"). In the event Landlord defaults, beyond any applicable notice and grace periods provided therein for the cure thereof, in the payment of any principal and/or interest payable pursuant to the Purchase Money Mortgage, then Tenant shall be paid permitted to Landlord at offset such unpaid amounts against the office next due installment(s) of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, Rent payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalshereunder.

Appears in 1 contract

Sources: Lease Agreement (Standard Microsystems Corp)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Base Rent (a) which shall be applied against the Rent payable for the first month Tenant covenants is required to pay Base Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay to Landlord, as rental for without prior notice or demand, or abatement, offset, deduction or claim, the Premises, Annual Basic Rental Base Rent specified in the sum Basic Lease Information, payable in advance at Landlord's address specified in the Basic Lease Information on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In addition to the Base Rent set forth in the Fundamental Basic Lease ProvisionsInformation, payable Tenant shall pay Landlord in advance in equal monthly installments on the Commencement Date and thereafter on the first (1st) day of each month, as set forth in Section 6.3 hereof, throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. Tenant shall also pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all costs and expenses incurred by Landlord to enforce the provisions of this Lease, including, but not limited to, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month during based upon a thirty (30) day month. The prorated Rent shall be paid on the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to Commencement Date and the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following which the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such noticetermination occurs, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and case may be collected or enforced as by law provided in respect of rentalsbe.

Appears in 1 contract

Sources: Lease Agreement (Pri Automation Inc)

Rent. (a) Tenant covenants and agrees to ▇. ▇▇▇▇▇▇ shall pay to Landlord, as rental for the Premises, Annual Basic Rental in advance, an amount equal to twenty-five hundred dollars and 00/100 ($2,500.00) annually during the sum term of the Lease, ("Base Rent"). Base Rent shall increase 3% annually during the term of the Lease. Lessor reserves the right to change rental rates as conditions warrant. Billing or acceptance by Lessor of any rental shall not imply a definite term or otherwise restrict either party from canceling this Lease as provided herein. Either party hereto may assign any receivables due it under this Lease; provided, however, such assignments shall not relieve the assignor of any of its rights or obligations under this Lease. All rent and other monetary payments under this Lease from Lessee to Lessor shall be delivered solely to the following address: BNSF Railway Company PO Box 676160 Dallas, TX 75267-6160 B. Lessee acknowledges that Lessor utilizes the rental collection system involving direct deposit of monies received through a financial institution selected by Lessor, which precludes Lessor's ability to exercise rejection of a rental payment before ▇▇▇▇▇▇'s check is cashed. ▇▇▇▇▇▇ agrees that as a condition of Lessor granting this Lease Lessee hereby waives any rights it may have under law to force continuation of this Lease due to Lessor having accepted and cashed Lessee's rental remittance. Lessor shall have the option of rejecting ▇▇▇▇▇▇'s payment by refunding to Lessee the rental amount paid by ▇▇▇▇▇▇, adjusted as set forth in this Lease, and enforcing the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day termination provisions of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the termthis Lease. (b) Any sum, amount, item or charge payable by Tenant hereunder C. Lessee shall be deemed pay the Base Rent and all additional rent, amounts due pursuant to Section 9 as and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable, without demand, set-off, or deduction. Lessee's obligation to pay Base Rent and all amounts due under this Lease is an independent covenant and no act or circumstance, regardless of whether such act or circumstance constitutes a breach under this Lease by Lessor, shall release Lessee of its obligation to pay Base Rent and all amounts due as required by this Lease. D. If Landlord any Base Rent or any payment under Section 9 or any other payment due by Lessee hereunder is not paid within five (5) days after the date the same is due, Lessor may assess Lessee a late fee ("Late Fee") in an amount equal to 5% of the amount which was not paid when due to compensate Lessor for Lessor's administrative burden in connection with such late payment. In addition to said Late Fee, Lessee shall pay any monies or incur any expenses in correction interest on the unpaid sum from the due date thereof to the date of violations payment by Lessee at an annual rate equal to (i) the greater of covenants herein set forth(a) for the period January 1 through June 30, the amount so paid or incurred shall, at Landlord's optionprime rate last published in The Wall Street Journal in the preceding December plus two and one-half percent (2 1/2%), and on notice to Tenantfor the period July 1 through December 31, be considered additional rentalsthe prime rate last published in The Wall Street Journal in the preceding June plus two and one- half percent (2 1/2%), payable or (b) twelve percent (12%), or (ii) the maximum rate permitted by Tenant with the first installment of rent thereafter becoming due and payablelaw, and may be collected or enforced as by law provided in respect of rentalswhichever is less.

Appears in 1 contract

Sources: Land Lease Agreement

Rent. (a) Tenant covenants and agrees to shall pay to Landlord (or to Lender, if directed by Landlord) in advance, as rental minimum annual rent for the PremisesLeased Premises during the Term, Annual Basic Rental in the sum amounts set forth in the Fundamental Lease ProvisionsExhibit B attached hereto (“Basic Rent”), payable in advance in equal monthly installments commencing on and continuing on the first day of each full calendar month thereafter during the termTerm (the said days being the “Basic Rent Payment Dates”), and shall pay the first 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 to include rent, prorated on a daily basis, shall be legal tender for the period (payment of public or private debts in the United States of America and if any) required by Lender by wire transfer in immediately available federal funds to such account in such bank as Lender shall designate, from time to time. If the date of commencement of the term to Commencement Date does not occur on the first day of a calendar month, Basic Rent for the first full period from and including the Commencement Date through and including the last day of the calendar month in which the termCommencement Date occurs shall be paid on the Commencement Date in the amount equal to one thirtieth (1/30) of the monthly Basic Rent for the initial term set forth on Exhibit B attached hereto for each day from and including the Commencement Date through and including February 28, 2006. (b) Any sumTenant shall pay and discharge before the imposition of any fine, amountlien, item interest or charge payable penalty may be added thereto for late payment thereof, as Additional Rent, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. In the event of any failure by Tenant hereunder to pay or discharge any of the foregoing, Landlord shall be deemed additional renthave all rights, powers and except as otherwise specifically remedies provided herein, shall be paid by Tenant to Landlord on Law or otherwise, in the first day event of the month following the date on which Landlord notifies Tenant nonpayment of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentBasic Rent. (c) All rentals payable If any installment of Basic Rent is not paid within five (5) days after written notice is given by Landlord or Lender (or Lender’s servicer or other designee of Lender) to Tenant that the same is overdue, Tenant shall pay to Landlord under or Lender, as the case may be, on demand, as Additional Rent, a late charge equal to two percent (2%) (the “Late Charge”) on such overdue installment of Basic Rent. In addition, Tenant shall be responsible for the payment of any default rate interest imposed by Lender in connection with the non-performance of Tenant of any of the terms, covenants and conditions of this Lease. (d) Landlord and Tenant agree that this Lease is a true lease and does not represent a financing arrangement. Each party shall be paid to Landlord at reflect the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time transactions represented by notice to Tenant. Tenant will promptly pay this Lease in all rentals herein prescribed when applicable books, records and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses reports (including, without limitation, income tax filings) in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant a manner consistent with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalstrue lease treatment rather than financing treatment.

Appears in 1 contract

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

Rent. (a) Tenant covenants and agrees to Commencing on January 1, 2018, Sublessee shall pay to LandlordSublessor the following amounts as base rent (the “Base Rent”) during the Term of this Sublease: Dates Annual Base Rent Per Annum Monthly Base Rent Rent Per Square Foot (b) Notwithstanding the foregoing, Sublessee shall make the first payment of Base Rent, together with the security deposit described below, at the time of Sublessee’s execution and delivery of this Sublease to Sublessor. The Base Rent is intended to be absolutely net of any and all other costs and expenses that may be or become due and payable by Sublessor under the Prime Lease (except as rental for otherwise expressly provided in paragraph (c) below), including without limitation Sublessor’s share of Operating Expenses, the PremisesProperty Management Fee and Personal Property Taxes payable by Sublessor to Prime Lessor under the Prime Lease, Annual Basic Rental all of which shall be paid by Sublessee as additional rent in addition to the sum Base Rent set forth above. Base Rent and additional rent shall sometimes be referred to as “Rent” in the Fundamental Lease Provisions, this Sublease. All Rent shall be due and payable in advance in equal monthly installments in advance on the first day of each full calendar month, without demand, deduction, counterclaim or setoff, except as expressly otherwise provided in this Sublease. Rent for any partial month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, prorated and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of any partial month. Sublessee shall pay as additional rent for all other expenses for which Sublessor is or would be responsible under the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentPrime Lease. (c) All rentals As additional rent, Sublessee shall pay all amounts for which Sublessor is required to pay to Prime Lessor under the Prime Lease in connection with the Sublease Premises (other than the Base Rent due under the Prime Lease and any Additional Rent payable by Tenant Sublessor to Landlord Prime Lessor pursuant to Section 29.4(f) of the Prime Lease), including without limitation Sublessor’s share (as determined under this Lease the Prime Lease) of Operating Expenses, the Property Management Fee and Personal Property Taxes. In addition to the Base Rent and additional rent, Sublessee agrees to pay to Sublessor all Sublessee Surcharges (as hereinafter defined) as further additional rent hereunder as hereinafter provided. As used herein, the term “Sublessee Surcharges” shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay mean any and all rentals herein prescribed when and as the same shall amounts which become due and payablepayable by Sublessor to the Prime Lessor under the Prime Lease, and which would not have become due and payable but for the acts and/or failures to act of Sublessee under this Sublease or which are otherwise attributable to the Sublease Premises, including, but not limited to: (i) any increases in the Prime Lessor’s fire, rent or other insurance premiums resulting from any act or omission of Sublessee, and (ii) any additional rent or charges under the Prime Lease payable by Sublessor on account of any other additional service as may be provided for or on behalf of Sublessee under the Prime Lease, or with the consent of the Prime Lessor, and (iii) the reasonable charges for any services that may be provided for Sublessee or the Sublease Premises hereunder where a separate charge is provided for. If Landlord Sublessee shall pay any monies or incur Sublessee Surcharge within thirty (30) days after the presentation of a statement therefor by the Sublessor to Sublessee, provided that all payments of additional rent shall in any expenses event be made to Sublessor (or, if Sublessor directs in correction of violations of covenants herein set forthwriting, to Prime Lessor) no later than five (5) business days prior to the amount so paid or incurred shall, at Landlord's option, and date on notice to Tenant, be considered additional rentals, payable by Tenant with which the first installment of rent thereafter becoming same will become due and payable, and may be collected or enforced as by law provided in respect of rentalsunder the Prime Lease.

Appears in 1 contract

Sources: Sublease (Momenta Pharmaceuticals Inc)

Rent. (a) Tenant covenants and agrees to pay to All rent is payable through the Tenant’s Resident Portal Account, or such other place or address designated by Landlord. Tenant, as rental in return for the Premisesuse of the Unit and in consideration of the terms, Annual Basic Rental in conditions, covenants, and provisions contained herein, shall pay Landlord the sum set forth in of , without offset or deduction (the Fundamental “Rent”). Tenant hereby acknowledges that the Term of this Lease Provisionsmay be less than a full calendar year, and the Rent has been allocated into installments of . Monthly Rent, together with any other payment of Rent due together therewith shall be payable in advance in equal without further notice, demand or deduction as follows: The first (1st) installment of monthly installments Rent shall be due on or before the Commencement Date and all payments of monthly Rent due thereafter shall be paid on or before the first (1st) day of each full calendar month during the term, entire Term. Time is of the essence and Rent is past due if not ACTUALLY RECEIVED by Landlord on or before the due date. The first such payment installment of monthly Rent . Tenant's obligation to include rent, prorated on a daily basis, pay Rent shall be independent of any of Landlord's obligations hereunder. To the extent that Tenant is required or obligated to pay any amounts hereunder to or for the period (if any) from the date benefit of commencement of the term Landlord, which shall be in addition to the first day of the first full calendar month in the term. (b) Any summonthly scheduled Rent as provided above, amount, item or charge payable by Tenant hereunder such amounts shall be deemed and considered as additional rentRent, and except in all respects intended to be included and considered as otherwise specifically provided herein"Rent", shall as such term is defined in the Act. Should any Rent or additional Rent be paid by due, outstanding, unpaid or accrued at the time of the expiration or earlier termination of this Agreement, the duty, liability and obligation of Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due survive such expiration or termination. Additional Rent and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and monthly charges will be listed on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsseparate addenda.

Appears in 1 contract

Sources: Rental Agreement

Rent. (a) Tenant covenants and agrees The Trustee is not obligated to pay any rent under this Site Lease. The consideration to Landlord, as rental the Site Lessor for the Premisesright to use the Leased Property during the Site Lease Term is the deposit of proceeds of the Series 2017J Certificates into the Project Account held by the Trustee under the Indenture to finance the Project of the Site Lessor or a charter school for which the Site Lessor is the Chartering Authority. The provisions of Article IV of this Site Lease are intended to assure that the State or another lessee, Annual Basic Rental sublessee or assignee pays Additional Rent in accordance with the 2017J Lease or an amount equal to the Additional Rent that would have been paid under the 2017J Lease under another instrument executed and delivered pursuant to Article IV of this Site Lease. TITLE TO LEASED PROPERTY; ENCUMBRANCES, EASEMENTS, MODIFICATIONS, SUBSTITUTION, DAMAGE, PERSONAL PROPERTY Title to Leased Property. Title to the Leased Property shall be held in the sum set forth name of the Site Lessor, subject to this Site Lease, the 2017J Lease and the Sublease of the Site Lessor or a charter school for which the Site Lessor is the Chartering Authority. Limitations on Disposition of and Encumbrances on Leased Property. Except as otherwise permitted in this Article or Article VII or VIII hereof and except for Permitted Encumbrances, the Site Lessor shall not sell, assign, transfer or convey any portion of or any interest in the Fundamental Lease ProvisionsLeased Property or directly or indirectly create, payable in advance in equal monthly installments incur or assume any mortgage, pledge, lien, charge, encumbrance or claim on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term or with respect to the first day Leased Property. Granting of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be laterEasements. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred The Site Lessor shall, at Landlord's optionthe request of the Trustee or the State consent to grants of easements, licenses, rights‑of‑way and other rights or privileges in the nature of easements with respect to the Leased Property on notice the same terms and in the same manner as the Trustee is required to Tenant, be considered additional rentals, payable by Tenant with do so pursuant to Section 7.03 of the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals2017J Lease.

Appears in 1 contract

Sources: Sublease Agreement

Rent. (a) In consideration of this Lease, Tenant covenants promises and agrees to pay Landlord the Basic Rental without deduction, or set off except as provided herein, for each month of the Lease Term. One such monthly installment shall be payable by Tenant to Landlord contemporaneously with the execution of this Lease, and a like monthly installment of the Basic Rental as provided for in Exhibit A shall be due and payable without demand, beginning on the first day of the calendar month following the expiration of the initial partial calendar month of the Lease Term; and continuing thereafter on or before the first day of each succeeding calendar month during the Lease Tenn. In the event any installment of the Basic Rental, or any other sums which become owing by Tenant to Landlord under the provisions hereof are not received within fifteen (15) 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 Basic Rental or such other sums owed, a late payment charge equal to two percent (2%) of the installment of the Basic Rental or such other sums owed. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to the provisions of this Lease, it being understood that such sums shall bear interest, which Tenant hereby agrees to pay to Landlord, at an interest rate equal to the imputed rate as rental recognized by the Internal Revenue Service to be charged Tenant for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day use of each full calendar month during the term, the first forbearance of such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the termmoney. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except Except as otherwise specifically provided expressly set forth herein, shall be paid by Tenant this is an absolutely net lease to Landlord on landlord. It is the first day intent of the month following parties hereto that the date on which Landlord notifies Tenant of the amount Basic Rental payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid an absolutely net return to Landlord at and that Tenant shall pay all costs and expenses relating to the office Premises and the business carried on therein, unless otherwise expressly provided in this Lease. Any amount or obligation herein relating to the Premises which is not expressly declared to be that of Landlord herein designated or which is an Excluded Liability (as defined in the Asset Purchase and Sale Agreement dated June 29, 2001 between Landlord and Tenant (the “Asset P&S Agreement”)) shall be deemed to such other address and/or person or company as Landlord may designate from time be an obligation of Tenant to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable performed by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsat Tenant’s expense.

Appears in 1 contract

Sources: Lease Agreement (Transtechnology Corp)

Rent. (a) Tenant The Sublessee covenants and agrees to pay to Landlordthe Sublessor, or as rental for the PremisesSublessor may in writing direct, Annual Basic Rental in lawful money of Canada, without any claim, setoff, compensation or deduction whatsoever, the sum aggregate of the following sums: (a) Prepaid Rent of  dollars ($) being rent in respect of each year or part of a year of the Term as set forth out in the Fundamental Lease Provisions, Schedule C and payable in advance in equal monthly installments on the date of this Sublease; (b) Monthly Rent of  dollars ($) per month payable on the first day of each full calendar month during of the termTerm subject to an annual adjustment, to be made on each Adjustment Date commencing after the first such payment to include rent, prorated on a daily basis, for the period (if any1st) from anniversary of the date of commencement of this Sublease and payable by automatic debit if so required. On each such Adjustment Date Monthly Rent shall be increased or decreased, as the term case may be, from Monthly Rent payable immediately before such adjustment, by an amount equal to the first day of CPI Adjustment. Notwithstanding the first full calendar month foregoing provided that the Sublessee is not in default under this Sublease, the term. (b) Any sum, amount, item or charge payable Sublessee shall have the right to prepay the Monthly Rent at any time during the Term upon providing written notice to the Sublessor together with a sum that is equal to the then current Monthly Rent multiplied by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent.225; and (c) All rentals payable by Tenant to Landlord under this Lease Additional Rent, which shall be paid payable as and when required pursuant to Landlord at the office terms and conditions of Landlord this Sublease. The Sublessor has been advised by its legal counsel that the sublease of the Leased Premises is not subject to Harmonized Sales Tax (“HST”) or the proposed Goods and Services Tax (“GST”) (herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable“GST/HST”). If Landlord shall pay any monies or incur any expenses it is determined that the disposition by the Sublessor to the Sublessee of the sublease interest in correction of violations of covenants herein set forththe Leased Premises is subject to GST/HST, the amount so paid or incurred shallLessor will pay the GST/HST provided that the Sublessee promptly executes and returns, at Landlord's optionno cost to the Sublessor, any and on notice all documents required by the Sublessor, to Tenant, be considered additional rentals, payable by Tenant with assign and transfer to the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided Sublessor any New Housing Rebate that might apply in respect of rentalsthe sublease of the Leased Premises. The Sublessee hereby irrevocably assigns and transfers to the Sublessor any New Housing Rebate, or refund, or reduction of GST/HST to which Sublessee may be entitled, and authorizes the Sublessor and its agents to apply for and collect any such rebate, refund or reduction. The Sublessor irrevocably appoints the Sublessee and the Sublessee’s authorized signatories as attorney of the Sublessee to execute, on behalf of the Sublessee, all such documents. If it is determined that the Sublessee’s use of the Leased Premises results in Rent being subject to GST/HST, the Sublessee will pay the to the Sublessor such GST/HST amounts, when due, as Additional Rent. Any purported set off, withholding or deduction of Rent by the Sublessee shall be deemed to be a breach of this Sublease, and entitle the Sublessor, at its option, to exercise any right or remedy available to it pursuant to this Sublease or at law. The Sublessee will have no right to a refund of, and the Sublessor will not be liable to the Sublessee for refunding, any Rent in the event of the termination of this Sublease.

Appears in 1 contract

Sources: Sublease Agreement

Rent. (a) Landlord may collect Rent directly from the assignees, subtenants, or other transferees; but no Transfer shall be a deemed a waiver of Landlord’s rights under this Article or the acceptance of the proposed assignee, subtenant occupant or transferee, or a release of Tenant from the further performance of the covenants obligating Tenant under this Lease. Notwithstanding any Transfer, Tenant shall remain fully and primarily liable under this Lease and shall not be released from performing any of the terms, covenants and agrees conditions of this Lease. In the event of any assignment or sublease (other than the OCOM Sublease), Landlord shall receive as additional rent hereunder fifty percent (50%) of Tenant’s Excess Consideration (as defined below) derived from such assignment or sublease. If Tenant shall elect to pay assign or sublet, Tenant shall use reasonable and good faith efforts to secure consideration from any such assignee or subtenant which would be generally equivalent to then-current market rent, but in no event shall Tenant’s monetary obligations to Landlord, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisionsthis Lease, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the termbe reduced. (ba) Any sumIn the event of a sublease other than the OCOM Sublease, amount“Excess Consideration” shall mean all rent, item additional rent or charge other consideration actually received by Tenant from such subtenant and/or actually paid by such subtenant on behalf of Tenant in connection with the subletting in excess of the rent, additional rent and other sums payable by Tenant hereunder shall be deemed additional rentunder this Lease during the term of the sublease on a per square foot basis if less than all of the Premises is subleased, less marketing costs, attorneys’ fees and except as otherwise specifically provided hereinbrokerage commissions, shall be paid if any, reasonably incurred by Tenant to Landlord on procure the first day sublease, and the cost of any alterations made by Tenant specifically for the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving benefit of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentsubtenant. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Master Lease Agreement (Global Medical REIT Inc.)

Rent. (a) Tenant covenants and Sublessee hereby agrees to pay to Landlord, as rental for the Premises, Annual Basic Rental Landlord equal monthly payments in the sum set forth amount of SIXTEEN THOUSAND, FOUR HUNDRED AND FORTY-EIGHT DOLLARS AND 04/100 ($16,448.04), in the Fundamental Lease Provisionsadvance, payable in advance in equal monthly installments on the first day of each full calendar and every month during the term, the first Term (such payment amount to include rent, be prorated on a daily basisper diem basis for any partial month), for provided, however, that all of such payments shall be made directly to Sublessor unless otherwise notified by the period (Landlord in writing. No adjustment to Rent shall be made if any) from the date of commencement estimate of the term square feet of the Premises set forth above is inaccurate in any respect. Except as otherwise expressly provided for herein with regard to Sublessee's obligation to pay for monthly electrical costs, Sublessee shall not be obligated to pay any other recurring Rent or Additional Rent required under the Lease, provided, however, that Sublessee shall be liable for, and shall pay to Sublessor at the time and in the manner required under the Lease, any costs or expenses billed to Sublessor by Landlord which were caused or specially ordered or incurred by Sublessee (e.g., payments for damage to the first day Building, excess or after hours utility charges), whether or not classified as Additional Rent, including, without limitation, those costs that arise as a result of Sublessee's breach or default. Sublessee also agrees to pay the cost of any telephone service provided to the Premises and other services not available through the Landlord, directly to the party supplying such service. Sublessee agrees to directly contract for and pay the same when due. Rent shall be payable in lawful money of the first full calendar month in United States to Sublessor at the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided address stated herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person persons or company at such other places as Landlord Sublessor may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalswriting.

Appears in 1 contract

Sources: Sublease Agreement (Flexiinternational Software Inc/Ct)

Rent. (a) A. Tenant covenants and agrees to pay to LandlordLandlord during the Lease Term, in lawful money of the United States of America, without prior notice, or demand therefor and without any deduction, defense, counterclaim, setoff or abatement whatsoever except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as rental 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 paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the PremisesLease Term, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, shall be due and payable in advance in equal monthly installments on the first day of each full calendar month during the termLease Term, without demand. If the first such payment to include rent, prorated Lease Term commences on a daily basis, for the period (if any) from the date of commencement of the term to day other than the first day of a month or the first full calendar Lease Term terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days in the term. (b) Any sum, amount, item or charge payable such month. All amounts received by Landlord from Tenant hereunder shall be deemed additional rent, applied first to the earliest accrued and except as otherwise specifically provided herein, 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. In addition, 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 on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentLandlord. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Office Lease (Aveo Pharmaceuticals, Inc.)

Rent. The rent reserved under this Sublease for the Term hereof shall be and consist of: (a) Tenant covenants and agrees to pay to Landlordthe Fixed Rent payable beginning on the Rent Commencement Date in Monthly Fixed Rent installments as specified in Paragraph 1(e) of this Sublease in advance, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on or before the first day of each full and every calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. Term; plus (b) Any sumsuch additional rent (“Additional Rent”) in an amount equal to the Expense Adjustment Amount, amountall charges for services and utilities supplied by Sublessor hereunder, item or charge and any other charges as shall become due and payable by Tenant Subtenant hereunder whether or not the same is designated as Additional Rent, including, without limitation, the reasonable expenses incurred by Sublessor in the enforcement (after default by Subtenant hereunder beyond applicable cure periods) of any of the agreements, covenants, or obligations under this Sublease and including reasonable legal fees that may accrue (after default by Subtenant hereunder beyond applicable cure periods) in the event suit for rent or dispossess proceedings are necessary to obtain the possession of the Subleased Premises or to collect the rent; which Additional Rent shall be payable as hereinafter provided. All rent due and payable by Subtenant hereunder shall be paid promptly when due, without notice or demand therefor, and without deduction, abatement, counterclaim or setoff of any amount or for any reason whatsoever. All Additional Rent and other charges payable hereunder, which are not due and payable on a monthly basis during the Term, unless otherwise specified herein, shall be due and payable within thirty (30) days of delivery by Sublessor to Subtenant of notice to pay the same. Fixed Rent and Additional Rent shall be paid to Sublessor in lawful money of the United States at the address of Sublessor set forth at the head of this Sublease or to such other person and/or at such other address as Sublessor may from time to time designate by notice to Subtenant. No payment by Subtenant or receipt by Sublessor of any lesser amount than the amount stipulated to be paid hereunder shall be deemed additional rentother 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 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. Any provision in the Main Lease referring to Fixed Rent or Additional Rent incorporated herein by reference shall be deemed to refer to the Fixed Rent and Additional Rent due under this Sublease, except as may otherwise specifically be expressly provided herein. If, in the event of a casualty or condemnation, Sublessor is entitled to a rent abatement pursuant to Paragraphs 10 or 26 of the Main Lease, Subtenant shall be paid by Tenant entitled to Landlord on a proportionate abatement in the first day Fixed Rent due under this Sublease, provided that Subtenant’s possession of the month following the date on which Landlord notifies Tenant of the amount payable Subleased Premises is affected by such casualty or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentcondemnation. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Sublease (Dendrite International Inc)

Rent. (a) 5.1. Monthly rent that the Tenant covenants shall pay to the Landlord during the first Term of Lease within its meaning hereinabove shall be the monthly rent as specified hereinabove. Statutory VAT shall be added to the said rent. 5.2. In addition to the Rent, the Tenant shall make additional payment for the parking spaces, within their meaning hereinabove. The additional Parking Payment shall be paid together with the monthly rent and agrees all terms set forth with regard to the monthly rent shall also apply to the additional Parking Payment. 5.3. At the time of signing this Agreement the Tenant shall furnish to the Landlord postdated checks for the entire Term of Lease in a manner that 7 days before commencement of each term of payment, within its meaning hereinabove, a check shall be repaid for each term of payment. The first check shall be a cash check as of the date of signing this Agreement. Two months prior to commencement of each Option Term, and to the extent that no notice was delivered regarding termination of lease, the Tenant shall furnish to the Landlord new checks in respect of the additional term, in accordance with the provisions set forth hereinabove, otherwise its right to exercise the option shall expire. 5.4. Rent shall be paid in new Israeli shekels and shall be linked to the index in a manner that upon expiration of the Term of Lease and upon expiration of each Option Term the Tenant shall pay to the Landlord the difference between linkage of each payment to the Basic Index and the Known Index, within their meaning hereinabove. In any event of delay in payment, for any reason that is contingent on the Tenant, the Tenant shall make payment according to the index known on the payment date applicable in accordance with this Agreement, or on the date of payment – upon the higher. 5.5. In the event the Tenant vacated the Leased Premises for any reason prior to expiration of the first Term of Lease, or in the middle of an Option Term, the Tenant shall be obligated to pay to Landlord, as rental rent for the Premises, Annual Basic Rental entire Term of Lease and/or Option Term. 5.6. Without derogating from for any relief and/or remedy that Landlord may seek in accordance with the sum provisions set forth in this Agreement and/or in accordance with the Fundamental Lease Provisions, payable provisions set forth in advance any law then any default in equal monthly installments on payment of any amount shall incur 1.5% interest per month. 5.7. A one-time default in payment for a period of up to 7 days shall not grant interest to the Landlord as said. Default in payment for a period that is longer than 7 days shall entitle the Landlord with interest in arrears as of the first day of each full calendar month during default and until payment is made. 5.8. A default in payment for a period of 14 days shall constitute a fundamental breach of this Agreement, and in such circumstances the term, Landlord shall not be obligated to deliver to the first such payment Tenant any additional notice prior to include rent, prorated on a daily basis, for the period (if any) from the date of commencement termination of the term to the first day of the first full calendar month in the termAgreement. (b) Any sum, amount, item 5.9. The said in this sub-clause shall not derogate or charge payable by Tenant hereunder affect the provisions set forth in clause 16 hereunder. Interest shall be deemed additional as rent. 5.10. To dispel any doubt, and except furnishing the checks shall not be deemed as otherwise specifically provided herein, payment however only 3 days after their cashing on the dates designated for that purpose. Rent shall be paid by Tenant to Landlord on in the first day address of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify deposited in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses Landlord’s bank account in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant accordance with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as instructions set forth by law provided in respect of rentalsthe Landlord.

Appears in 1 contract

Sources: Lease Agreement (Vascular Biogenics Ltd.)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (awhich shall be applied against the Rent payable for the first month(s) Tenant covenants is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be Obtained by Tenant under Section 12 and Exhibit of this Lease. Tenant agrees to pay to LandlordLandlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim except as rental for the Premises, Annual Basic Rental in the sum expressly otherwise set forth in the Fundamental Lease Provisionsherein, payable in advance in equal monthly installments at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. 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 the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month during based upon a thirty (30) day month. To the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement extent not already paid as part of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, Advance Rent any prorated Rent shall be paid by Tenant to Landlord on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month following in which the date on which Landlord notifies Tenant of the amount payable expiration or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional renttermination occurs. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Lease Agreement (New Focus Inc)

Rent. (a) In consideration of this Lease, Tenant covenants promises and agrees 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 Landlordpay all Additional Rent which becomes due hereunder. The nonpayment of any Additional Rent shall afford Landlord all the 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, as rental the covenant and obligation of Tenant to pay Rent 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 Premisesfirst month of the Lease Term shall be payable by Tenant to Landlord contemporaneously with the execution hereof, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, and a like monthly installment shall be due and payable in advance in equal monthly installments without demand on or before the first day of each full calendar month during the term, Lease Term beginning with the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement second month of the term to Lease Term. Basic Rental for any fractional month at the first day beginning or end of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder Lease Term shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentprorated. (c) All rentals payable by Tenant Notwithstanding any expiration or earlier termination of this Lease, Tenant’s obligation to Landlord pay any and all Additional Rent under this Lease shall be paid continue and shall cover all periods up to Landlord at the office of Landlord herein designated date this Lease expires or is terminated. Tenant’s obligation to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, and all Additional Rent under this Lease and Landlord’s and Tenant’s obligation to make the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.Initial:

Appears in 1 contract

Sources: Industrial Lease Agreement (Collegiate Pacific Inc)

Rent. Tenant shall pay to Landlord or to any other Person designated in writing to Tenant by Landlord, by wire transfer of immediately available federal funds or by other means acceptable to Landlord in its sole discretion, in lawful money of Canada which shall be legal tender for the payment of public and private debts, without offset, abatement, demand or deduction, Rent during the Term as follows: (a) Tenant covenants and agrees to pay to LandlordCommencing with the Commencement Date, as rental for the Premises, Annual Basic Rental Rent payable in each calendar month shall equal the sum of: (i) the amount of Minimum Rent set forth on Exhibit C (“Minimum Rent”) which shall be payable monthly in the Fundamental Lease Provisions, payable in advance in equal monthly installments arrears beginning on the first twentieth (20th) day December 2004 and continuing on the twentieth (20th) day of each full calendar month during thereafter; provided, however, that Minimum Rent shall be prorated as to any Lease Year which is less than twelve (12) calendar months and as to any partial calendar months; and (ii) the termamount of percentage rent (“Percentage Rent”) calculated for each calendar month in accordance with the provisions of Exhibit “D”, which amount shall be payable monthly in arrears, on or before the first such payment to include rent, prorated on a daily basis, for the period thirtieth (if any30th) from the date of commencement of the term to the first day of the first full subsequent calendar month in month. Landlord and Tenant expressly acknowledge and agree that (1) the termthreshold and percentages for establishing Percentage Rent are set out on Exhibit “D” to this Lease (2) the determination of Percentage Rent shall be made with respect to the Fixed Term and separately with respect to the Extension Terms. (b) Any sumIf the amount of cash available from Gross Revenues after payment of all operating expenses, amounttaxes, item or charge insurance, management fees and other fees and expenses due and payable from Gross Revenues in accordance with this Lease and all amounts payable by Tenant hereunder pursuant to the Management Agreement is insufficient to pay Percentage Rent, then the amount of such deficiency shall be deemed additional rentdeferred and added to and paid in connection with the next monthly Rent payment or payments due hereunder. Provided, however, any Rent deferred as herein provided shall in any event be due and except as otherwise specifically provided hereinpayable and paid prior to the end of the Fiscal Year in which such deferral occurred. Landlord may, shall be paid upon request of Tenant and justification by Tenant satisfactory to Landlord on the first day in Landlord’s sole discretion, defer all or any portion of the month following the Percentage Rent to such future date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall as may be later. Any such notice shall specify in reasonable detail the basis of such additional rentacceptable to Landlord. (c) All rentals payable by Tenant shall deliver to Landlord under this a Certificate from an Officer of Tenant or Manager (an “Officer’s Certificate”) with each Percentage Rent payment (or, if no Percentage Rent is then payable, on the due date therefor) setting forth the calculation of the Percentage Rent payment for the most recently completed calendar month of each Lease Year in the Term, the and Percentage Rent due year to date through such recently completed calendar month. Percentage Rent shall be paid subject to Landlord at confirmation and adjustment, if applicable, as set forth in Section 3.2. (d) The obligation to pay Rent shall survive the office expiration or earlier termination of Landlord herein designated the Term, and a final reconciliation, taking into account, among other relevant adjustments, any adjustments which are accrued after such expiration or termination date but which related to Rent accrued prior to such other address and/or person termination date, shall be made not later than 60 days after such expiration or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalstermination date.

Appears in 1 contract

Sources: Master Lease Agreement (CNL Income Properties Inc)

Rent. (a) Tenant covenants and agrees to pay to Landlord, as rental for the Premises, Annual Basic Rental Notwithstanding anything in the sum set forth in Lease to the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the termcontrary, the first such payment to include rent, prorated on a daily basis, parties acknowledge and agree that Minimum Rent for the period (if any) from commencing January 1, 2000 through December 31, 2000 shall be the date sum of commencement of the term to the first day of the first full calendar month in the term$28,028,177. (b) Any sumMinimum Rent for the period commencing January 1, amount2001 through December 31, item or charge payable by Tenant hereunder 2001 shall be deemed additional rent, and except as otherwise specifically provided herein, reduced to the extent required so that in no event shall be paid by Tenant the Minimum Rent exceed an amount equal to Landlord on the first day 66.4% of the month following excess of $146,000,000 over the date on which Landlord notifies Tenant Encumbered Lease Rental Amount. Notwithstanding anything in Section 3.1(b) of the amount payable or on Lease to the tenth day after contrary, during such Lease Year, Tenant shall have no obligation whatsoever to pay Percentage Rent under the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentLease. (c) All rentals payable by Tenant to Landlord under this Lease Minimum Rent for the period commencing January 1, 2002 through December 31, 2002 shall be paid reduced to Landlord at the office extent required so that in no event shall the Minimum Rent exceed an amount equal to 66.4% of Landlord herein designated or the excess of $150,000,000 over the Encumbered Lease Rental Amount. Notwithstanding anything in Section 3.1(b) of the Lease to the contrary, during such other address and/or person or company as Landlord may designate from Lease Year Tenant shall have no obligation to pay Percentage Rent under the Lease until such time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same aggregate amount of Percentage Rent payable for such Lease Year, pursuant to the terms of the Lease and each of the Other Leases as in effect immediately prior to the date hereof, shall become due and payableexceed $43,500,000 (such amount, the "2002 Percentage Rent Threshold"). If Landlord Once the 2002 Percentage Rent Threshold is achieved, Tenant shall pay any monies or incur any expenses 66.4% of the aggregate Percentage Rent that would otherwise have been payable under the Lease and each of the Related Leases, as in correction effect immediately prior to the date hereof, in excess of violations the 2002 Percentage Rent Threshold. (d) For Lease Years 2001 and 2002, Tenant shall estimate (i) the Minimum Rent for such Lease Year, (ii) the "Minimum Rent" under the Related Leases for such Lease Year, (iii) the Encumbered Lease Rental Amount for such Lease Year, (iv) the portions of covenants herein set forthsuch Encumbered Lease Rental Amount (on a month-by-month basis) that Landlord will recognize as income under GAAP and (v) the percentage of Tenant's EBITDA for such Lease Year that will accrue in each month of such Lease Year (each such percentage, the "Monthly X plus the portion of the Encumbered Lease Rental Amount installment for such month that Landlord will recognize as income under GAAP during such month ---------------------------------------------------------- Minimum Rent hereunder, plus the "Minimum Rent" under the Related Leases, plus the Encumbered Lease Rental = Monthly EBITDA Amount, in each case estimated for such Lease Year Percentage (e) Not later than sixty (60) days after the end of each of the Lease Years described in clauses (b) and (c) above, Landlord and Tenant shall jointly determine the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, of Minimum Rent actually payable by Tenant with respect to such prior Lease Year. To the first installment extent such joint determination discloses a deficiency in the amount of rent thereafter becoming due and payableMinimum Rent actually paid by Tenant with respect to the applicable Lease Year, Tenant shall promptly, and may in all events within ten (10) Business Days of such determination, pay the Landlord the amount of such deficiency. To the extent such joint determination discloses an overpayment of Minimum Rent by Tenant with respect to the applicable Lease Year, then (provided no Event of Default has occurred and is continuing) Landlord shall grant Tenant a credit equal to the amount of such overpayment against the Rent next coming due in the amount of such difference together with interest at the Interest Rate accruing from the date of payment by Tenant until the date such credit is applied. Adjustments to Percentage Rent payable during the Lease Year occurring in 2002 shall continue to be collected or enforced as governed by law provided in respect of rentals.Section 3.1(b)

Appears in 1 contract

Sources: Master Lease Agreement (Vornado Operating Co)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Base Rent (a) which shall be applied against the Rent payable for the first month Tenant covenants is required to pay Base Rent), the Additional Security Deposit as described in Section 4, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay to Landlord, as rental for without prior notice or demand, or abatement, offset, deduction or claim, the Premises, Annual Basic Rental Base Rent described in the sum Basic Lease Information, payable in advance at Landlord's address specified in the Basic Lease Information on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In addition to the Base Rent set forth in the Fundamental Basic Lease ProvisionsInformation, payable Tenant shall pay Landlord in advance in equal monthly installments on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses. Tax Expenses, Common Area Utility Costs, and Utility Expenses, as well as the Administrative Expenses, Tenant shall also pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all costs and expenses incurred by Landlord to enforce the provisions of this Lease, including, but not limited to, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month during based upon a thirty (30) day month. The prorated Rent shall be paid on the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to Commencement Date and the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following which the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such noticetermination occurs, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and case may be collected or enforced as by law provided in respect of rentalsbe.

Appears in 1 contract

Sources: Lease Agreement (Interlink Electronics)

Rent. (a) Tenant Beginning on the Commencement Date, Sublessee covenants and agrees to pay Sublessor during the Term of this Sublease base rent (the “Base Rent”), without deduction or offset and without notice or demand, at the Sublessor’s address, as set forth in Paragraph 14 hereof, or to such other entity or at such other place as Sublessor may from time to time designate in writing as follows: (b) In addition to Base Rent, in the event that, under any provision of the Lease, any additional rent or other charge shall be payable by Sublessor to Landlord because of extra services ordered by or activities undertaken by or on behalf of Sublessee with respect to the Sublet Premises (including but not limited to after hours HVAC costs or extra janitorial services) or on account of Sublessee’s default hereunder, then Sublessee shall pay to Sublessor such additional rent or other charge on demand by Sublessor (collectively, the “Additional Rent”). The Base Rent and Additional Rent are collectively referred to hereinafter as the “Rent.” Sublessee hereby agrees that any and all such requests for extra services and/or activities for the benefit of Sublessee shall be made by Sublessee in writing to Landlord, with a copy to Sublessor. In no event shall Sublessor be responsible for any matter associated with the provision, or lack of provision, of any such extra services or activities. Sublessor shall have the right to require that Sublessee provide a cash security deposit sufficient to cover the cost of such services prior to Landlord’s providing such services. Without limiting the foregoing: (i) Sublessee shall not otherwise be responsible for Sublessor’s “Pro Rata Percent” of “Operating Costs,” as rental for these terms are defined in the Lease, including, without limitation, Sublessor’s pro rata share of taxes and operating expenses of the Building which Landlord pays during any calendar or fiscal year, any portion of which is applied to the Premises during the Term because of or in connection with the ownership, leasing, or operation of the Premises; and (ii) the term “Additional Rent” as used in this Paragraph 2(b) shall not be construed to include Sublessor’s “Pro Rata Percent” of “Operating Costs,” and Sublessor shall remain fully liable and responsible to Landlord under the Lease for these costs. (c) The Rent shall be paid in advance, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar and every month during throughout the termTerm of this Sublease. If Sublessee fails to pay any installment of Rent within ten (10) days after same is due, the first such payment to include rent, prorated on a daily basis, for the period (if any) unpaid amount shall bear interest from the due date of commencement of the term until paid in full at a rate equal to the first day of lesser of: (a) the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate highest rate announced from time to time as the prime interest rate by Citibank, N.A. plus three (3) percentage points; or (b) the maximum legal rate allowed by law. If Sublessee makes two (2) consecutive payments of Base Rent which are returned to Sublessor by Sublessee’s financial institution for insufficient funds, Sublessor may require, by giving written notice to TenantSublessee, that all future payments of Rent shall be made in cashier’s check or by money order. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay The foregoing is in addition to any monies or incur any expenses in correction other remedies of violations of covenants herein set forth, the amount so paid or incurred shallSublessor hereunder, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected law or enforced as by law provided in respect of rentalsequity.

Appears in 1 contract

Sources: Sublease (Itex Corp)

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

Appears in 1 contract

Sources: Lease Agreement (Penumbra Inc)

Rent. (a) Throughout the term of this Lease, Tenant covenants and agrees to shall pay to LandlordLandlord the following base rent: Tenant shall pay base rent to Landlord without notice or demand, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during (time being of the termessence) in equal monthly installments, in advance, without any defense, deduction or setoff whatsoever. Payments shall be delivered to: Crostone Portland LLC, c/o Redstone, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: Property Management. Upon agreement of the first parties, Tenant may pay rent by electronic funds transfer or ACH, and in such event the parties shall provide one another with such information and shall complete such forms as may be necessary to facilitate payment in such fashion. Landlord may assess a late fee equal to include rentthe greater of $25 or 10% of the amount due for each payment not received by Landlord by the 7th day of any month. Tenant will be in immediate default if Landlord has not received rent on or before the 10th day of any month, prorated on a daily basis, for and any rent not received by such date shall bear interest from the period (if any) from due date to the date of commencement payment at the rate of the term to the first day of the first full calendar month in the term. twelve percent (b12%) Any sum, amount, item per annum. Tenant shall pay Landlord a $35 fee for every check returned for insufficient funds or charge payable by Tenant hereunder shall be deemed additional rentotherwise dishonored, and except as otherwise specifically provided hereinLandlord shall thereafter have the right to demand payment by cashier's check, shall certified check or money order. ▇▇▇▇▇▇ agrees to pay all sums of money or charges of whatsoever nature required to be paid under other provisions of this Lease by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such as additional rent. (c) All rentals payable . No payment by Tenant to or receipt by Landlord under of a lesser amount than any rents required by this Lease shall be paid deemed to Landlord at be other than an account of the office of Landlord herein designated earliest stipulated rents or to such other address and/or person sums, nor shall any endorsement or company statement on any check or any letter accompanying any check or payment as rent or any sums be deemed an accord and satisfaction, and Landlord may designate from time accept such check or payment without prejudice to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice right to Tenant, be considered additional rentals, payable by Tenant with recover the first installment balance of such rent thereafter becoming due and payable, and may be collected or enforced as by law pursue any other remedy provided in respect of rentalsthis Lease.

Appears in 1 contract

Sources: Lease Agreement

Rent. (a) Tenant covenants and agrees to pay to Landlord, unto Landlord the base net rentals in accordance with Exhibit C attached hereto and made a part hereof commencing as rental for of the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments date hereof and on the first day of each full calendar and every month during hereafter, in advance, through the termentire term of this Lease, the first together with such payment to include increase of said annual and monthly fixed net rent, prorated on a daily basisin accordance with the provisions of this Lease as hereinafter provided. If Landlord so requires, for the period (if any) from the date of commencement Tenant shall make all or part of the term rental payments directly to Landlord's lender provided Tenant receives written notice from Landlord directing Tenant to make such payments to lender. All rent (including all sums payable as rent in accordance with the first day of the first full calendar month preceding paragraph and as hereinafter provided) shall be construed in the term. (b) Any sum, amount, item or charge every instance as an absolute net rent payable by Tenant to Landlord. This Lease is an absolute net lease, and the annual rent and all other sums payable hereunder to or on behalf of Landlord shall be deemed additional rentpaid without notice or demand and without setoff, and except as otherwise specifically counterclaim, abatement, suspension, deduction, or defense. It is the express intent of the parties hereto that the annual rent provided herein, shall to be paid by Tenant to Landlord under the terms of Article 3 hereof shall be an absolute net rent payable to Landlord and that Tenant shall, in any or all events and at its sole cost and expense and in addition to the said monthly rental, pay any and all other items of expense in connection with the Premises of whatever nature, including but not limited to all taxes and assessments imposed by any governmental authority on the first day of Premises, the month following building now or hereafter existing thereon or attached thereto, the date on which Landlord notifies contents thereof, and the use thereof, together with the procurement and maintenance by Tenant of the amount payable insurance hereinafter specified. This Lease shall always be construed in order to effectuate the foregoing declared intent of the parties hereto. If Tenant or on the tenth day after the giving Landlord shall so require, Landlord and Tenant shall enter into a memorandum of such noticelease, whichever which shall be later. Any such notice shall specify recorded in reasonable detail the basis of such additional rentappropriate land records in order to document the terms and conditions hereof. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Lease Agreement (Mony Group Inc)

Rent. (a) A. Tenant covenants and agrees to pay to LandlordLandlord during the Lease Term, as rental for without any setoff or deduction whatsoever, the Premisesfull amount of all Base Rental payments, Annual Basic Rental in subject to the sum Rent Abatement set forth in Exhibit E hereof, and any adjustments thereof, due in accordance with the Fundamental 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 Provisions(the "Additional Base Rental") end all such other reasonable sums of money as shall become due under this Lease (including, without limitation, any reasonable charges for replacement of electric lamps and ballasts 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 due and payable in advance in equal monthly installments on the first day of each full calendar month during the termLease Term and any extensions or renewals hereof, and tenant hereby agrees to pay such Base Rental and Additional Base Rental to Landlord without demand, provided that the first such payment to include rent, prorated on a daily basis, installment of Base Rental for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in of the term. (b) Any sum, amount, item or charge payable by Tenant hereunder Lease Term shall be deemed additional rentpayable upon the execution of this Lease by Tenant. If the Lease term, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord 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 following the date on which Landlord notifies Tenant of the amount payable or months shall be prorated, based on the tenth day after the giving number of days in such notice, whichever month. All such payments shall be laterby a good and sufficient check. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable No payment by Tenant to 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 earliest Rent due hereunder, 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 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 other late payment. Tenant's covenant to pay Rent shall be independent of every other covenant set form in this Lease. B. All Rent not paid to Landlord when due and payable shall bear interest from five (5) days after the date due until paid at the office lesser of: 1. eighteen percent (18%) per annum; or 2. the Maximum Rate. In addition, if Tenant falls to pay any installment of Landlord herein designated Base Rental, Additional Base Rental or to such any other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed item of Rent when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction payable hereunder, a service fee equal to five percent (5%) of violations of covenants herein set forth, the such unpaid amount so paid or incurred shall, at Landlord's option, will be due and on notice to Tenant, be considered additional rentals, payable immediately by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsto Landlord.

Appears in 1 contract

Sources: Standard Form Office Lease (Alloy Online Inc)

Rent. Monthly Rent and Additional Rent, hereunder (acollectively “Rent”) shall be paid in lawful money of the United States to Landlord according to the instructions attached on Exhibit K, or at such place or to such agents as Landlord may from time to time designate to Tenant covenants in writing on no less than thirty (30) days’ notice (provided that Tenant may make payments by electronic transfer in lawful money of the United States and agrees in accordance with Landlord’s instructions, which will be provided to pay Tenant upon request), without any demand with respect to LandlordMonthly Rent and such Additional Rent payable monthly in regular installments and, except as rental for otherwise expressly provided in this Lease, without any reduction, abatement, counterclaim, deduction or set-off whatsoever, at the Premises, Annual Basic Rental times and in the sum set forth manner hereinafter provided. Unpaid Rent which is not received within five (5) business days after the due date shall bear interest at the Default Rate (as defined in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if anySection 28(h)) from the date due until paid. The payment of commencement Rent hereunder is independent of the term each and every other covenant and agreement contained in this Lease. Except as otherwise expressly provided in this Lease, Tenant’s obligation to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant pay Rent hereunder shall be deemed additional renta separate and independent covenant, absolute, and except as otherwise specifically provided hereinunaffected for any reason whatsoever, shall be paid including by Tenant any damage to Landlord on the first day or destruction of the month following the date on which Landlord notifies Tenant Premises or any part thereof, any taking of the amount payable Premises or on any part thereof or interest therein by condemnation or otherwise, any prohibition, limitation, restriction or prevention of Tenant’s use, occupancy or enjoyment of the tenth day after Premises or any part thereof, the giving impossibility, impracticability or illegality of performance by ▇▇▇▇▇▇▇▇, Tenant or both, any action of any government authority, or any other cause whether similar to or dissimilar from the foregoing and whether or not Tenant shall have notice or knowledge thereof and whether or not such notice, whichever cause shall now be laterforeseeable. Any such notice shall specify in reasonable detail The parties intend that the basis obligations of such additional rent. (c) All rentals payable by Landlord and Tenant to Landlord under this Lease shall be paid separate and independent covenants and agreements and shall continue unaffected unless such obligations have been modified or terminated pursuant to Landlord at the office an express provision of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsthis Lease.

Appears in 1 contract

Sources: Office Lease Agreement (Commvault Systems Inc)

Rent. (a) a. Tenant covenants and agrees to shall timely pay to Landlord, as rental for Landlord the Premises, Annual Basic Rental in and all additional sums to be paid by Tenant to Landlord under this Lease, including the sum amounts set forth in subparagraph b. below and Exhibit D, without deduction or set off, except as otherwise provided herein, at the Fundamental address specified for Landlord in the Basic Lease ProvisionsInformation (or such other address as Landlord may from time to time designate in writing to Tenant). Basic Rental, adjusted as herein provided, shall be payable monthly in advance in equal advance. The first monthly installments installment of Basic Rental shall be payable on the Commencement Date and a like monthly installment of Basic Rental shall be due on the first day of the second full calendar month of the Term and continuing thereafter on the first day of each full succeeding calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to Term. b. On the first day of the first full each calendar month during the Term, Tenant shall pay to Landlord an amount equal to the cost of all electricity used by the Premises (the "Electrical Costs") for the prior calendar month. Landlord will determine the amount of Tenant's consumption of electricity by a separate sub-meter in the term. (b) Any sumPremises, amountinstalled, item or charge payable by Tenant hereunder shall be deemed additional rentmaintained, and except as otherwise specifically provided hereinread by Landlord, shall at Tenant's expense (provided, however, that the cost of installing and maintaining the software associated with the sub-metering will be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's optionexpense). Until such time as Landlord is able to calculate the actual Electrical Costs based upon the reading of the sub-meter, and on notice but in no event more than three (3) calendar months, Tenant shall pay to Landlord an estimated amount of Electrical Costs equal to the product of (i) $2.25, multiplied by (ii) the rentable square feet in the Premises. As soon as practicable, Landlord shall furnish to Tenant a statement (the "Initial Electrical Cost Statement") of Tenant's actual Electrical Costs for any calendar months where the estimate was used. If the Initial Electrical Cost Statement reveals that Tenant paid more for Electrical Costs than was actually incurred for such calendar months, then Landlord shall promptly reimburse Tenant such excess, or Landlord will credit such excess against the next Rent payment due from Tenant; likewise, if Tenant paid less than the amount actually incurred for Electrical Costs, then Tenant shall promptly pay Landlord such deficiency. Electrical Costs due for the last calendar month of the Term shall be considered additional rentals, payable by Tenant with the first installment due within ten (10) days of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect Tenant's receipt of rentalsan invoice therefor.

Appears in 1 contract

Sources: Office Lease Agreement (Summit Bancshares Inc /Tx/)

Rent. Tenant to Pay Tenant shall pay in lawful money of Canada at such address as shall be designated from time to time by Landlord Basic Rent and Additional Rent (aall of which is herein sometimes referred to collectively as "Rent") as herein provided without any deduction, set-off or abatement whatsoever, Tenant covenants and agrees hereby agreeing to waive any set-off rights it may have under any statute or at law. Basic Rent Commencing on the Commencement Date Tenant shall pay to Landlord, as rental Landlord a fixed minimum annual rent ("Basic Rent") for each Lease Year of the Premises, Annual Basic Rental Term in the sum set forth annual amount(s) described as Basic Rent in the Fundamental Lease Provisionssection 1.1, payable in advance to be paid in equal monthly installments installments, as described as Basic Rent in section 1.1, in advance on the first day of each full calendar month during the termTerm. On the Commencement Date, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to it is other than the first day of the first full a calendar month, Tenant shall pay to Landlord for such partial month Basic Rent computed on a per diem basis. If an amount per square foot is specified in the term. description of Basic Rent in section 1.1, then the Basic Rent is intended to be such amount per square foot of Rentable Area of the Premises per annum, and the Basic Rent shall be subject to adjustment based upon the Architect's certificate of Rentable Area of the Premises to be delivered pursuant to section 2.21. Within thirty (b30) Any sumdays after delivery of such certificate all necessary adjustments will be made and Tenant shall pay to Landlord any deficiency in previous payments of Basic Rent and Additional Rent, amount, item or charge payable and if Tenant is not in default under the terms of this Lease the amount of any overpayment by Tenant hereunder shall be deemed additional rent, of Basic Rent and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease Additional Rent shall be paid to Landlord at Tenant or credited to the office account of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Lease (Ace Hardware Corp)

Rent. (a) Tenant covenants and Lessee agrees to pay to LandlordLessor or its assignee the lease payments (the “Lease Payments”), as rental for including the Premisesinterest portion, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of aggregate amounts specified in Exhibit C; provided, however, that the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder Lessee shall be deemed additional rent, obligated to make such Lease Payments during any fiscal year to the extent that such Lease Payments may be made from current revenues lawfully budgeted and except as otherwise specifically provided herein, shall appropriated for such purpose during such year. The Lease Payments will be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable without notice or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord demand at the office of Landlord herein designated the Lessor (or to such other address and/or person place as Lessor or company as Landlord its assignee may designate from time to time by notice to Tenant. Tenant designate in writing), and will promptly pay all rentals herein prescribed when commence on the first Lease Payment date as set forth in Exhibit C and thereafter on the dates set forth in Exhibit C. Except as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses specifically provided in correction of violations of covenants herein set forthSection 4 hereof, the amount so paid obligation to make the Lease Payments will be absolute and unconditional in all events and will not be subject to any set-off, defense, counterclaim or incurred shallrecoupment for any reason whatsoever. Any and all payment(s) received by Lessor hereunder shall be applied to amounts due hereunder at Lessor’s sole discretion notwithstanding any contrary instruction or instrumentation by Lessee. Unless Lessor decides, at Landlord's optionin its sole discretion, to apply any and on notice all payments(s) received from Lessee in a different manner, then any payments shall be applied in the following order of priority: (i) to Tenantrepay any reimbursement items due Lessor from Lessee pursuant to the provisions of this Lease; (ii) to pay for any amounts owed by Lessee by virtue of its indemnification obligations under Section 16 hereof; (iii) to any accrued interest owed in connection with a late Lease Payment; (iv) to any accrued interest with respect to any Lease Payments then due; and then (iv) to reduce the principal component(s) of the Lease Payment(s) as and when due hereunder. Lessee reasonably believes that funds can be obtained sufficient to make all Lease Payments during the Lease Term and hereby covenants that it will do all things lawfully within its power to obtain, be considered additional rentals, payable by Tenant with maintain and properly request and pursue funds from which the first installment of rent thereafter becoming due and payable, and Lease Payments may be collected or enforced made, including making provisions for such payments to the extent necessary in each budget submitted for the purpose of obtaining funding, using its bona fide best efforts to have such portion of the budget approved and exhausting all available administrative reviews and appeals in the event such portion of the budget is not approved. It is Lessee’s intent to make Lease Payments for the full Lease Term if funds are legally available therefor and in that regard Lessee represents that the use of the Equipment is essential to its proper, efficient and economic operation. The total obligation of Lessee for the fiscal year of execution is the sum of the payments for such fiscal year as by law provided set forth on Exhibit C. The total obligation of Lessee in respect each fiscal year renewal term is the sum of rentals.the payments during such fiscal year renewal term as set forth on Exhibit C. A schedule of Lessee’s total obligation for the fiscal year of execution and for each fiscal year in which this Lease is renewed is attached hereto as Exhibit C.

Appears in 1 contract

Sources: Equipment Lease Purchase Agreement

Rent. (a) During the Lease Term, Tenant covenants and agrees to pay to LandlordLandlord an annual rental for each Lease Year in the dollar amount set forth below, subject to periodic adjustment, as provided hereinafter, for increases in Annual Operating Cost, as hereinafter defined (the amount of said annual rental for the Premises, being hereinafter called "Annual Basic Base Rental"): Location of Space Number of Square Feet Rental in the sum set forth in the Fundamental Lease Provisions, Rate per Square Feet Annual Base Rental Suite 1500 9,084 $10.15 $92,202.60 The Annual Base Rental of $92,202.60 shall be payable in advance advance, without demand, deduction or offset in equal monthly installments of $7,683.55 which are due in advance on the first day of each full calendar month during the termLease Term. Such payments shall be made to Landlord at its principal offices as set forth in the Notice section hereof, or to such other place or places as Landlord may from time to time designate in writing to Tenant. If the first such payment to include rent, prorated Lease Term shall begin or terminate on a daily basis, for the period (if any) from the date of commencement of the term to any day except the first day of the first full calendar month, a pro-rated monthly rental, based upon a thirty (30) day month, shall be paid for that portion of the month that falls within the Lease Term. As to both the Premises and the Building, the respective measurements of floor area as computed in accordance with the termAmerican National Standard Z65.1 – 1996 Method for Measuring Floor Space in Office Buildings, approved July, 1996, as may from time to time be subject to lease by Tenant and all tenants of the Building, respectively, as determined by Landlord measuring floor area on a consistent basis throughout the Building. Tenant’s Premises contains approximately 9,084 square feet of Rentable Area and approximately 9,084 square feet of Usable Area. (b) Any sumThe Annual Base Rental, amount, item or charge payable by Tenant hereunder shall as the same may hereafter be deemed additional rent, and except as otherwise specifically provided hereinadjusted, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable promptly when due without notice or on the tenth day after the giving of such noticedemand therefor and without any abatement, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated deduction or to such other address and/or person or company set-off for any reason whatsoever, except as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law expressly provided in respect of rentalsthis Lease.

Appears in 1 contract

Sources: Lease Agreement

Rent. (a) Tenant During the initial term of this Lease, Lessee hereby covenants and agrees to pay to Landlord, Lessor as rental Base Rent for the Premises, Annual Basic Rental in Premises the sum set forth in the Fundamental of $138,600.00 per Lease Provisions, year payable in advance in equal monthly installments of $11,550.00, plus applicable sales or use tax, which Base Rent shall be due in advance on the first day of each full calendar month during month, without demand, at the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date offices of commencement of the term to the first day of the first full calendar month Lessor in the term. (b) Any sumcity of Lake Mary, amountFlorida, item or charge payable by Tenant hereunder shall be deemed additional rent, at such other place and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord Lessor may designate from time to time designate in writing. Base Rent is adjustable as set forth hereafter and in Paragraph 6 of this Lease. In the event of a renewal of this Lease pursuant to Paragraph 3 above, the base yearly rent shall be adjusted by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and any change in the index known as the same "United States Bureau of Labor Statistics, Consumer Price Index for all Urban Consumers (all items), United States City Average (1982 equals 100)" (hereinafter referred to as the "Index"). The Base Rent adjustment for changes in the Index shall be accomplished by multiply the Base Rent last prevailing under this Lease by a fraction, the numerator of which shall be the Index for the second month preceding the last month of the then current Lease Year. The denominator of the fraction shall be the Index for the last month prior to the last rental adjustment. There shall be no adjustment in rent if the foregoing calculation results in a lower rental payment, it being the intent that rent will adjust upward, but not downward. After making the foregoing calculation, if Base Rent is to be adjusted, the adjusted rental amount shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment payment of rent thereafter becoming Base Rent due and payableon the first month of the new term, and may shall apply for the remainder of that term. If the Consumer Price Index, as now constituted, compiled and published, shall cease to be collected compiled and published during the term hereof, and all extensions thereof, then the parties shall utilize a comparable index. All rent, additional rent and other sums due to be paid under this Lease are in United States Dollars. All sums due to be paid by the Lessee to Lessor under this Lease are deemed to be "rent", whether or enforced as by law provided not such sums are called "rent" in respect of rentalsthis Lease.

Appears in 1 contract

Sources: Business Lease (Faro Technologies Inc)

Rent. (a) 3.1 Tenant covenants and agrees to pay to Landlord, as rental for Landlord the Premises, Annual Basic Rental Monthly Base Rent then in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments effect on or before the first day of each full calendar month during the termTerm, commencing upon the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement expiration of the term to Rent Abatement. Rent for any period during the first day Term which is less than a full month shall be a prorated portion of the first full calendar month Monthly Base Rent based upon the number of days in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, such month. Said rent shall be paid by Tenant to Landlord Landlord, without deduction or offset except as expressly permitted under this Lease, and without notice or demand, at the Rent Payment Address set forth on the first day Summary, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the month following the date on which Landlord notifies Tenant of the amount payable next scheduled rent payment or on the tenth day within ten (10) business days after the giving of such Landlord’s notice, whichever shall be is later. Any such notice shall specify Unless specified in reasonable detail this Lease to the basis of such additional rent. (c) All rentals contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease, other than Base Rent, shall be additional rent. Tenant shall pay to Landlord, in addition to, and simultaneously with, all payments of rent and any other amounts payable to Landlord under this Lease, a sum equal to the aggregate of any municipal, county, state or federal excise, sales, use, rental or transaction privilege taxes now or hereafter levied or imposed against, or on account of, any or all consideration from and amounts payable under this Lease by Tenant, or the receipt thereof by Landlord. 3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be paid imposed in an amount equal to Landlord at five percent (5%) of the office unpaid rent or other payment. The provisions of Landlord herein designated 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 such Article 19 of this Lease in the event said rent or other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalspayment is unpaid after date due.

Appears in 1 contract

Sources: Industrial Net Lease (Dexcom Inc)

Rent. (a) Tenant covenants and agrees to pay to Landlord, as rental The rent reserved under this Lease for the Premises, Annual Basic Rental in Term hereof (the sum set forth in "Rent") shall be and consist of: (i) the Fundamental Lease Provisions, Base Rent payable in advance in equal monthly installments in advance, on the first day of each full and every calendar month during the termTerm; plus (ii) such additional rent ("Additional Rent") in an amount equal to (x) Tenant's Proportionate Share of Expenses (as such terms are defined in Paragraph 3 of this Lease) and all charges for services and utilities pursuant to Paragraph 14 hereof, and (y) any other charges as shall become due and payable hereunder, including, without limitation, the first such payment to include rent, prorated on a daily basis, for reasonable expenses incurred by Landlord in the period (if any) from the date enforcement of commencement any of the term agreements, covenants and obligations under this Lease, and including reasonable legal fees that may accrue in the event suit for rent or dispossess proceedings are necessary to obtain the first day possession of the first full calendar month in Demised Premises or to collect the term. (b) Any sum, amount, item or charge payable by Tenant hereunder Rent; which Additional Rent shall be deemed additional rent, and except payable as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be laterhereinafter provided. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease Rent shall be paid to Landlord at the its office of Landlord herein designated stated above, or to such other address and/or person or company place as Landlord may designate from time to time by notice given in accordance with Paragraph 17 hereof, in lawful money of the United States of America; provided, however, that if the Commencement Date shall occur on a date other than the first calendar day of a month, the Rent for the partial month commencing on the Commencement Date shall be appropriately pro-rated on the basis of the monthly Rent payable during the first year of the Term. (b) Tenant does hereby covenant and agree promptly to Tenant. Tenant will promptly pay all rentals the Base Rent, Additional Rent and any other charges herein prescribed reserved as and when and as the same shall become due and payable, without demand therefor and, except as otherwise expressly provided herein, without any set-off, recoupment or deduction whatsoever. If All Additional Rent and other charges payable hereunder, which are not due and payable on a monthly basis during the Term, unless otherwise specified herein, shall be due and payable within twenty (20) days of delivery by Landlord to Tenant of notice to pay the same. (c) In the event that any payment of Base Rent, Additional Rent or any other charges shall pay any monies or incur any expenses in correction of violations of covenants herein set forthbe paid after the due date for same provided herein, Tenant shall pay, together with payment, the amount so paid Late Charge and a like additional Late Charge for every thirty (30) days or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsportion thereof that such payment shall remain unpaid.

Appears in 1 contract

Sources: Lease Agreement (Avis Rent a Car Inc)

Rent. As annual fixed rental for the Premises, Lessee shall pay to Lessor at its office in the City of Duquesne at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, a sum equal to the monthly mortgage debt service related to the Premises multiplied by 1.1 (athe excess of said sum over the monthly mortgage debt service is hereinafter called the "Debt Service Coverage") Tenant plus the sum of $7,559 (the "Parking Rent") payable in advance on the first business day of each calendar month beginning on the 1st day of the fifth full month following the Commencement Date (the "Fixed Rent") . The Debt Service Coverage shall be fixed as of the Commencement Date and remain the same throughout the Term or any renewal Term. Notwithstanding the foregoing, the Parking Rent will not be payable unless and until a certificate of occupancy has been issued for the Parking Facilities. Lessee hereby covenants and agrees to pay the Fixed Rent hereby reserved as and when due. Lessee further covenants and agrees to Landlordpay all sums of money, charges or other amounts required to be paid by the Lessee to the Lessor or to another person under this Lease (the "Additional Rent") in addition to the Fixed Rent provided for herein. Additional Rent shall also include the assumption by Lessee of all obligations including the maintenance obligations imposed on the lessee by URA pursuant to the Parking Lease and all costs of operating the parking facilities. The Fixed Rent and Additional Rent are sometimes hereinafter collectively referred to as rental for the "Rent." Lessee shall be in compliance with this Lease if, being directed in writing to do so, it pays the Rent, exclusive of the Parking Rent, directly to Dollar Bank, the holder of the first mortgage on the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisionsas and when due. Further, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder Lessee shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under compliance with this Lease shall be paid if it pays the Parking Rent to Landlord at the office of Landlord herein designated URA or to such other address and/or person or company its designee as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as directed in writing by law provided in respect of rentalsURA.

Appears in 1 contract

Sources: Lease (Ansaldo Signal Nv)

Rent. (a) 7.1. Tenant covenants and agrees to shall pay to Landlord, Landlord as rental Base Rent for the Premises, Annual Basic Rental in commencing on the sum Term Commencement Date, the sums set forth in Section 2.3, subject to the Fundamental Lease Provisions, payable rental adjustments provided in advance Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each full and every calendar month during the termTerm. 7.2. In addition to Base Rent, commencing on the first Expense Trigger Date (as defined in Section 9.5 below), Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below), (c) [intentionally omitted] and (d) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. 7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such payment to include rent, prorated 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 daily basis, for the period (if any) from the date of commencement of the term to day other than the first day of a calendar month, then the first full calendar Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the termmonth and shall be paid at the then-current rate for such fractional month. 7.4. Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) Any sumany other restriction on Tenant’s use, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and (c) except as otherwise specifically expressly provided herein, shall be paid by any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to Landlord on terminate or cancel this Lease or quit or surrender the first day Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the month following the date on which Landlord notifies Tenant expiration or earlier termination of the amount payable Term or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to Landlord at the office of Landlord herein designated or to such any other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsperiod.

Appears in 1 contract

Sources: Lease (Protagonist Therapeutics, Inc)

Rent. (a) Tenant covenants and agrees to Subtenant shall pay to Landlord, Landlord annual fixed rent (the “Yearly Rent”) as rental for follows: From the Premises, Annual Basic Rental in Commencement Date through the sum set forth in the Fundamental Lease Provisions, Expiration Date: $ 493,603.00 $ 41,133.58 $ 23.00 payable in advance in equal monthly installments installments, pro-rated on a per diem basis in the first day case of each full calendar month any partial months during the termTerm. Except as otherwise set forth herein, the first such payment to include rent, prorated each monthly installment shall be payable on a daily basis, for the period (if any) from the date of commencement of the term to or before the first day of the first full calendar month for which such payment is made, without notice or demand and without abatement, set-off or deduction except as expressly provided in this Sublease. Notwithstanding the termforegoing, provided Subtenant is not in default hereunder, Landlord waives payment of Yearly Rent for the period commencing on the Commencement Date and expiring on the later of (i) October 31, 2007, or (ii) thirty (30) days after the Commencement Date. Subtenant shall, on the Commencement Date, pay to Landlord the sum of $41,133.58, to be applied to the first monthly installment of Yearly Rent due hereunder. (b) Any sumIn addition to the Yearly Rent and any other sums which Subtenant may be obligated to pay pursuant to any other provision of this Sublease, amountSubtenant agrees to pay to Landlord as additional rent hereunder (or directly to the utility company, item or charge if applicable), commencing on the Commencement Date and otherwise as and when such sums are due and payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day : (i) 57.4% (“Subtenant’s Building Share”) of the month following the date on which Landlord notifies Tenant Operating Costs and Taxes as set forth in Article 9 of the amount payable or on the tenth day after the giving of such notice▇▇▇▇▇▇▇▇▇, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent(ii) all Utility Charges (as hereinafter defined) and (iii) all Subtenant Surcharges (as hereinafter defined). (c) All rentals Commencing on the Commencement Date, Subtenant shall pay directly to the applicable utility company the costs of electrical service consumed in the second floor of the Building as measured by a separate meter therefor. Subtenant shall contract for and pay directly to the applicable utility company, the costs of telecommunications service to the Subleased Premises. Commencing on the Commencement Date, Subtenant shall pay to Landlord 50% (“Subtenant’s Utility Share”) of (i) the costs of electricity for the rooftop units, (ii) the costs of natural gas for building heating and the emergency generator and (iii) the costs of water and sewer for general building uses and the sprinkler system. The costs payable by Tenant Subtenant pursuant to Landlord under this Lease Section 4(c) are referred to as “Utility Charges”. (d) As used herein, the term “Subtenant Surcharges” shall be paid to Landlord at the office of Landlord herein designated or to such mean any and all amounts other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when than Operating Costs, Taxes and as the same shall Utility Charges which become due and payable. If payable by Landlord shall pay to the Overlandlord under the ▇▇▇▇▇▇▇▇▇ whether as “additional rent” or for any monies extra services or incur otherwise, which would not have become due and payable but for the acts and/or failures to act of Subtenant under this Sublease or which are otherwise attributable to the Subleased Premises, including, but not limited to: (i) any expenses increases in correction the Overlandlord’s fire, rent or other insurance premiums resulting from any act or omission of violations Subtenant, (ii) any additional rent under the ▇▇▇▇▇▇▇▇▇ payable by Landlord on account of covenants herein set forthSubtenant’s use or maintenance of heating, the amount so paid ventilation or incurred shall, at Landlord's optionair conditioning, and on notice to Tenant, be considered (iii) any additional rentals, rent under the ▇▇▇▇▇▇▇▇▇ payable by Tenant Landlord on account of any other additional service as may be provided to the Subleased Premises under the ▇▇▇▇▇▇▇▇▇ or with the first installment consent of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsthe Overlandlord.

Appears in 1 contract

Sources: Sublease (Panacos Pharmaceuticals, Inc.)

Rent. (a) Tenant covenants and agrees to shall pay to Landlord (or to Lender, if directed by Landlord), as rental minimum annual rent for the PremisesProperties during the Term, Annual Basic Rental in the sum amounts set forth in Exhibit "B" attached hereto ("Basic Rent"), commencing on the Fundamental Lease Provisionsfirst day of February, payable in advance in equal monthly installments 2003 for the preceding month and continuing on the first day of each full calendar month thereafter during the termTerm, in each case for the first preceding month, and on the last day of the Term for the month then ending (the said days being called the "Basic Rent Payment Dates"), and shall pay the same at Landlord's address set forth below, or at such other place as Landlord from time to time may designate to Tenant in writing, in funds which at the time of such payment shall be legal tender for the payment of public or private debts in the United States of America and if required by Lender by wire transfer in immediately available federal funds to include rentsuch account in such bank as Lender shall designate, prorated on a daily basis, from time to time. Basic Rent for the period from and including the Commencement Date through and including December 31, 2002 shall be paid on the Commencement Date in the amount equal to one thirtieth (if any1/30) from the date of commencement of the monthly Basic Rent for the initial term to set forth on Exhibit "B" attached hereto for each day from and including the first day of the first full calendar month in the termCommencement Date through and including December 31, 2002. (b) Any sumTenant shall pay and discharge before the imposition of any fine, amountlien, item interest or charge payable penalty may be added thereto for late payment thereof, as Additional Rent, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. In the event of any failure by Tenant hereunder to pay or discharge any of the foregoing, Landlord shall be deemed additional renthave all rights, powers and except as otherwise specifically remedies provided herein, shall be paid by Tenant to Landlord on law or otherwise, in the first day event of the month following the date on which Landlord notifies Tenant nonpayment of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentBasic Rent. (c) All rentals payable If any installment of Basic Rent is not paid within five (5) days after written notice is given by Landlord or Lender (or Lender's servicer or other designee of Lender) to Tenant that the same is overdue, Tenant shall pay to Landlord under 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. (d) Landlord and Tenant agree that this Lease is a true lease and does not represent a financing arrangement. Each party shall be paid to Landlord at reflect the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time transactions represented by notice to Tenant. Tenant will promptly pay this Lease in all rentals herein prescribed when applicable books, records and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses reports (including, without limitation, income tax filings) in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant a manner consistent with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals"true lease" treatment rather than "financing" treatment.

Appears in 1 contract

Sources: Lease Agreement (Wesco International Inc)

Rent. the Premises as outlined above, Owner, or Community Manager on Owner’s behalf, shall perform a final move-out inspection on or promptly after the date Tenant vacates the Premises and Tenant shall accept Owner’s assessment of property damages on the Move-In/Move-Out Inspection Form (aSchedule 5) as stated in the final move-out inspection form. Within twenty-one (21) business days following the date on which Tenant covenants has vacated the Premises or such shorter period as may be provided in the Community Specific Addendum, Owner shall provide Tenant with an itemized list of actual costs, for which Tenant shall be responsible, to repair identified deficiencies not otherwise remedied by Tenant pursuant to Section 7.D. prior to move-out or approved by Owner to remain in place pursuant to Section 7.E. No later than the last day of Tenant’s occupancy, Tenant shall: (i) give Owner all keys and agrees copies of all keys or entry devices to pay the Premises, including common areas; (ii) vacate and surrender Premises to LandlordOwner, empty of all persons’ and Tenant’s personal property; (iii) vacate any/all parking and/or storage space; (iv) clean and deliver the Premises to Owner in the same condition as rental referenced in Section 3.A, excepting ordinary wear and tear; (v) remove all debris; and (vi) give written notice to Owner of ▇▇▇▇▇▇’s forwarding address. A. Unless otherwise specified on Schedule 1, the rent (“Rent”), shall be an amount equal to the Basic Allowance for Housing (“BAH”) at the applicable BAH rate for the service member Tenant’s duty station and military grade, being more particularly set forth in Box 6 and Box 7 of Schedule 1, [which shall include any Owner provided utilities] OR [minus the utility allowance for the Premises, Annual Basic Rental as defined in the sum set forth utility allowance addendum] [, and minus Rent concessions identified in Box 8 on Schedule 1, if applicable]. If Tenant’s duty station is not at the Fundamental Lease ProvisionsInstallation where the Premises are located, BAH shall be determined in accordance with Service policy applicable to such Tenant. Rent shall be payable in advance arrears (i.e., each Rent payment pays Rent for the previous month) in equal monthly installments installments. Rent is due on the first calendar day of each full calendar month identified in Box 7 on Schedule 1. If ▇▇▇▇▇▇’s BAH rate changes at any time during the termterm of this Lease, the first such payment to include rent, prorated on a daily basis, for the period Tenant must notify Owner within thirty (if any30) from the date of commencement calendar days of the term change. Notwithstanding the foregoing, upon an increase in Tenant’s BAH, Rent shall increase automatically to the new BAH rate, whether or not Tenant provides notice to Owner of such increase and Tenant waives any notice from Owner of an automatic rent increase. If this Lease begins after the first day of the first full calendar month, Tenant shall pay the prorated amount based upon 1/30th of the monthly Rent. Tenant shall pay the partial month Rent shown in Box 16 on Schedule 1 on the Payment Date in the termfollowing month. (b1) Any sumIf the Premises is occupied by two or more married Tenants, amountboth of whom are active duty service members, item or charge payable the Rent will be the equivalent BAH rate for the highest ranking Tenant, at the With Dependents rate, for the Installation, as set out in Box 7 on Schedule 1 [minus the Utility Allowance for the Premises (if applicable)]. (2) If the Tenant has been designated as a key and essential employee by Tenant hereunder shall be deemed additional rentthe Installation, and except as is single or not accompanied by family members, the Rent will be equal to the Tenant’s housing allowance at the “Without Dependent rate,” [minus the Utility Allowance for the Premises (if applicable)]. (3) If Owner elects to provide Tenant a home in a housing category higher than Tenant’s military pay grade, then the Rent will be based on the applicable BAH rate for the Tenant’s military pay grade. If Tenant elects to reside in a home that is in a housing category higher or lower than Tenant’s military pay grade, then the parties shall execute an addendum that states the basis and amount of the Rent. B. Unless otherwise specifically provided hereinfor in the Community Specific Addendum, Rent shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable through (i) Unit Diary Entry Electronic Funds Transfer (UDEFT) (Marine Corps), (ii) Military Assistance Company (MAC) [▇▇▇▇] (Navy/Air Force/Army), or on the tenth day after the giving of such notice(iii) PeopleSoft (Coast Guard), whichever shall be laterif applicable (each, as applicable, a “Rent Payment Service Option”). Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall If a Rent Payment Service Option is not applicable, Rent may be paid to Landlord Owner or its designated agent by payroll allotment/deduction (the “Allotment”). Rent and all other charges owed by ▇▇▇▇▇▇ and not paid by a Rent Payment Service Option or Allotment will be payable by another means reasonably directed by Owner, which at the office of Landlord herein designated Owner’s option may include personal check, certified check, money order, automated clearing house or to such through other address and/or person or company as Landlord payment methods (e.g. online/website, smart device application), which alternate means may designate be changed from time to time by with 30 days written notice to TenantTenant and each of which may be subject to applicable service charges. Owner will apply payments to any previously owed Rental amounts prior to current Rents or as otherwise required by applicable law. C. After the Premises is vacated, any refund due to Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.made within thirty

Appears in 1 contract

Sources: Military Member Tenant Lease Agreement

Rent. All rents, fees and charges, including, without limitation, payments of minimum or base rents, fixed monthly rents, additional rents, retroactive rents, operating cost pass-through, rent escalations, percentage rents, sign revenues, other receipts, operating expenses of the Property, tenant expenses, taxes, assessments, electricity and other utilities, common area maintenance and services, other escalation charges and other amounts due Seller pursuant to the Leases or due Seller with respect to the Property generally or otherwise payable under the Leases (aall of the foregoing may hereinafter be collectively referred to as "Rents") Tenant covenants shall be prorated as of the Close of Escrow. Subject to the provisions below, Rents delinquent at the Close of Escrow shall be prorated to the Close of Escrow when collected. Rents collected within twelve (12) months after the Close of Escrow shall be deemed to apply (after deduction of costs for collections) first to Rents currently or past due and agrees payable to pay to Landlord, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, Buyer for the period after Close of Escrow from tenants making such payments, and second to Rents which are due and payable to Seller for the period prior to Close of Escrow from tenants making such payments. Buyer shall at all times for twelve (if any12) from months after the date Close of commencement Escrow, continue to invoice tenants for all Rents which are delinquent or unpaid as of the term Close of Escrow or which otherwise belong to Seller pursuant to this Agreement. Rents collected by Buyer after the first day Close of the first full calendar month in the term. (b) Any sumEscrow, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided hereinto which Seller is entitled under this Paragraph, shall be promptly paid over, in cash, to Seller after deduction of any reasonably incurred collection costs but otherwise without offset or deduction. Seller reserves the rights to all delinquent or past due Rents owing to Seller for periods prior to the Close of Escrow and Buyer acknowledges that such Rents are the property of Seller and are hereby specifically reserved by Tenant to Landlord on Seller. Such reservation by Seller and the first day foregoing rights of Seller shall survive the Close of Escrow, the recordation of the month following Deed and the date on which Landlord notifies Tenant execution, delivery and recordation of the amount payable Lease Assignment (defined below) and shall supersede any provision herein or on in the tenth day after the giving of Lease Assignment tothe contrary. Seller may proceed to institute any and all legal proceedings to which it is legally entitled to recover such noticeamounts from such tenants, whichever except that Seller shall not be later. Any permitted to institute legal proceedings for unlawful detainer against such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated tenants or to such other address and/or person or company as Landlord may designate from time seek to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsterminate their Leases.

Appears in 1 contract

Sources: Purchase Agreement (Mack Cali Realty Corp)

Rent. (a) Tenant covenants To the extent that any tenant is entitled to any rebate, concession, deduction or offset under its Lease, such entitlement shall be included as a closing adjustment, except that free rent under any Leases shall not be adjusted (but rather shall be incurred by the applicable Property Owner with respect to the period prior to Closing and agrees shall be incurred by BPLP with respect to pay to Landlordthe period from and after Closing). Further, except as rental for the Premises, Annual Basic Rental in the sum otherwise set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments this Agreement or on the first day of each full calendar month during the term, the first such payment Schedule V attached hereto and as to include rent, prorated on a daily basis, for the period (if any) from Leases entered into after the date of commencement this Agreement with the prior written consent (or deemed consent) of Transferee in accordance with Section 4.4 above, to the extent that any tenant is entitled to future tenant improvements work under existing Leases (and without regard to subsequent amendments, extensions or other agreements) to be paid for by the landlord or tenant is entitled to future tenant improvements work to be paid for by the landlord, or tenant improvement allowances to be funded in the future by the landlord under such tenant's Lease, the amount of landlord's liability and the amount of such allowance for such work shall be included as a closing adjustment by reducing the portion of the term Assigned Value allocable to the first day Partnership Interests of the first full calendar Property Owner which owns the Developed Property which is subject to such Lease. Monthly rent payable by tenants shall be adjusted as of 11:59 p.m. on the day immediately preceding the Closing Date, and any such rent for the month in which the termClosing occurs) shall be paid to Transferee by adjustment to the Contribution Price. Estimated adjustments will be made on the Closing Date on a reasonable basis for estimated operating expenses paid by tenants as additional rent. Notwithstanding anything to the contrary contained in Section 5.1 above or in this Section 5.2, it is the intent of the ▇▇▇▇▇▇ Parties and the Transferee that prorations of all operating expenses with respect to the full year 1998 shall be made as follows: (i) All Additional Rent (as hereinafter defined) collected by the ▇▇▇▇▇▇ Parties with respect to the period from January 1, 1998 through June 30, 1998 shall be credited to BPLP. In addition, to the extent that the base rent collected from any tenant includes a base year component (the "Base Year Amount"), the Base Year Amount collected by the ▇▇▇▇▇▇ Parties with respect to the period from January 1, 1998 through June 30, 1998 shall be credited to BPLP. (ii) Any base rent and Additional Rent remitted to the ▇▇▇▇▇▇ Parties from and after the Closing Date shall be remitted to BPLP. (iii) The ▇▇▇▇▇▇ Parties shall be credited with all operating expenses paid by them with respect to the period from January 1, 1998 through June 30,1998. (iv) No separate adjustment shall be made with respect to the real estate taxes or utilities. BPLP shall pay all unpaid bills and invoices (whether received prior to or subsequent to the Closing Date, but only if the same are included as operating expenses for purposes of calculating escalations under tenant leases) and shall pay all real estate taxes for the Properties. Notwithstanding anything contained herein to the contrary, neither party shall profit or be penalized by any material change in the occupancy of the Properties and that neither the ▇▇▇▇▇▇ Parties nor BPLP will benefit from the pro-ration of operating expenses during calendar year 1998. (b) Any sumof the following charges and/or rents provided for by any Lease (but without duplication): (A) the payment of additional rent based upon a percentage of the tenant's business during a specified annual or other period (sometimes referred to as "percentage rent"), amount(B) common area maintenance or "CAM" charges, item (C) "escalation rent" or charge payable by Tenant hereunder shall be deemed additional rent based upon real estate taxes, insurance, operating expenses, labor costs, cost of living, or other index including the consumer price index or otherwise, or (D) any other items of additional rent, however determined, e.g., charges for electricity, water, utilities, cleaning, overtime services, sundries and/or miscellaneous charges and except as otherwise specifically provided hereinbuilding expenses, shall be paid by Tenant to Landlord adjusted and prorated on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of an if, as and when collected basis (such noticepercentage rent, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such CAM charges, escalation rent and other additional rentrent being collectively called "ADDITIONAL RENT"). (c) Rent and such tenant charges (excluding Additional Rent) which are due but uncollected as of the Closing Date shall not be adjusted, but, with respect to tenants whose rent is no more than 120 days in arrears, provided the Property Owners (or, if after the Closing, the applicable Existing Partners) provide in a timely manner all back-up materials, reconciliations and other information requested by tenants with respect thereto, Transferee shall remit promptly to or on behalf of the applicable Existing Partners any such amounts actually paid by such tenants to Transferee (provided that such amounts shall be in excess of the then current rent and other charges due (including Additional Rent), including for such purpose, all past due amounts which relate to the period from and after the Closing Date) within twelve (12) months after the Closing Date. Transferee's obligations with respect to such delinquent rent and other charges shall be limited to billing the applicable tenant therefor, monthly for the six (6) month period commencing on the Closing Date (and remitting to the applicable Existing Partners amounts actually received on account of such delinquent rent as provided above). Notwithstanding anything to the contrary in the foregoing, the applicable Existing Partners retain all rights against former tenants whose Leases have expired or have been terminated and possession discontinued prior to the date of this Agreement (or, the Closing Date with respect to Leases terminated after the date of this Agreement with the prior written approval of Transferee) and, with respect to tenants who do not pay all past due rent within six (6) months after the Closing Date, the applicable Existing Partners shall have the right, upon prior written notice to BPLP, to pursue tenants to collect such delinquencies (including, without limitation, the prosecution of one or more lawsuits), provided, however, that BPLP shall have no obligation to join in such lawsuits or other pursuits, and provided further, however, that the Existing Partners shall not be entitled to evict (by summary proceedings or otherwise) any such tenants or otherwise effect BPLP's or such tenant's rights under the applicable Lease. Except as otherwise adjusted at Closing, but subject to the terms and conditions of this Section 5.2, Transferee shall be obligated to pay to the applicable Existing Partners any payments of rent made to Transferee by any tenants applicable to the period prior to the Closing Date. The parties agree that in the event that any tax appeals relating to any Property, whether now existing or hereafter filed, results in any rebate of real property or other taxes paid for such Property, such rebate (after deducting therefrom all costs and expenses of procuring the same, and amounts owing to the tenants of such Property for the period of such rebate) shall be prorated as of the Closing Date between the respective applicable Existing Partners and Transferee based on respective periods of ownership. All rentals payable by Tenant prepaid rentals, tenant security deposits, whether cash or non-cash (including security deposits for tenants who owe rent or other charges on the Closing Date), together with all interest required to Landlord be paid thereon which has accrued through the Closing Date, shall be delivered to Transferee on the Closing Date. Promptly following the Closing Date, the applicable Existing Partners shall request any tenants who have posted letters of credit as security deposits to have such security deposits amended or re- issued, if necessary, so that they run to the benefit of BPLP, if applicable, as landlord under the Leases. If any prorations under this Lease Section cannot be calculated finally on the Closing Date, then they shall be paid to Landlord estimated at the office of Landlord herein designated or to such other address and/or person or company Closing and calculated finally as Landlord may designate from time to time by notice to Tenantsoon after the Closing Date as feasible. Tenant will promptly pay all rentals herein prescribed when and as This Section 5.2 shall survive the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsClosing.

Appears in 1 contract

Sources: Contribution and Conveyance Agreement (Boston Properties Inc)

Rent. (a) Tenant covenants The Rent (specified in Section 1.1 hereof) and agrees any additional rent or other charges payable pursuant to pay this Lease shall be payable by Sublessee to Landlord, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first Sublessor by mailing such rent payment to include rentGenzyme Corporation, prorated on a daily basisP.O. ▇▇▇ ▇▇▇▇, for the period ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ (if any) ▇▇ such other place as Sublessor may from the date of commencement of the term time to the first day of the first full calendar month in the termtime designate by notice to Sublessee). (b) Any sum, amount, item or charge payable by Tenant hereunder Rent shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord payable in advance on the first (1st) day of each and every calendar month during the month following the date on which Landlord notifies Tenant term of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentthis Sublease. (c) All rentals payable by Tenant to Landlord under this Lease Rent for any partial month shall be paid by Sublessee to Landlord Sublessor at such rate on a prorata basis. Other charges payable by Sublessee on a monthly basis, as hereinafter provided, shall likewise be prorated. (d) All Rent and other amounts due under this Sublease shall be made without demand, offset or deduction. Sublessee shall be entitled to a fair and equitable share of all abatements of rent and rent adjustments set forth in the office Prime Lease which Sublessor has been granted with respect to the Premises. (e) Sublessee represents and Sublessor acknowledges that, as of Landlord herein designated or the Commencement Date and for the period of approximately six months thereafter, Sublessee expects to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and use the approximately 2,638 rentable square foot portion of the Premises identified on Exhibit A as the same "Expansion Space" for only limited purposes. Accordingly, Sublessor hereby agrees that Sublessee shall become have no obligation to pay any rent with respect to the Expansion Space until May 1, 1997. From and after May 1, 1997, however, full rent shall be due and payablepayable with respect to the Expansion Space. If Landlord Sublessor shall pay any monies or incur any expenses provide Sublessee with such "free rent" for the Expansion Space by applying to Sublessee's rental account for each month that Sublessee qualifies for free rent, a credit in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, of $8,353.67. (f) It is the intention of the parties that Rent payable by Tenant with the first installment Sublessee under this Sublease shall be a "gross rent" that includes amounts on account of rent thereafter becoming due base rent, utilities, operating expenses and payable, and may be collected or enforced as real estate taxes payable by law provided in respect of rentals.Sublessee to Sublessor; i.

Appears in 1 contract

Sources: Sublease (Dyax Corp)

Rent. (a) 7.1 Tenant covenants and agrees to shall pay to Landlord, Landlord as rental Base Rent for the Premises, Annual Basic Rental in commencing on the sum date that is two (2) months after the Term Commencement Date (the “Rent Commencement Date”), the sums set forth in Section 2.3, subject to the Fundamental Lease Provisions, payable rental adjustments provided in advance Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each full and every calendar month during the termTerm. 7.2 In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) Tenant’s Adjusted Share of Laboratory Support Expenses, (c) the first Property Management Fee (as defined below), and (d) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. 7.3 Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such payment to include rent, prorated 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 daily basis, for the period (if any) from the date of commencement of the term to day other than the first day of a calendar month, then the first full calendar Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the termmonth and shall be paid at the then-current rate for such fractional month. 7.4 Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) Any sumany other restriction on Tenant’s use, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and (c) except as otherwise specifically expressly provided herein, shall be paid by any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to Landlord on terminate or cancel this Lease or quit or surrender the first day Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the month following the date on which Landlord notifies Tenant expiration or earlier termination of the amount payable Term or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to Landlord at the office of Landlord herein designated or to such any other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsperiod.

Appears in 1 contract

Sources: Lease Agreement (CM Life Sciences III Inc.)

Rent. (a) 3.1 Tenant covenants and agrees to pay to Landlord, as rental for Landlord the Premises, Annual Basic Rental Rent in effect from time to time by paying the sum set forth Monthly Installment of Rent then in the Fundamental Lease Provisions, payable in advance in equal monthly installments effect on or before the first day of each full calendar month during the termTerm, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of except that the first full calendar month’s rent (subject to the Fourth Floor Abated Monthly Installment of Rent, the Ninth Floor Abated Monthly Installment of Rent and the Tenth Floor Abated Monthly Installment of Rent) shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to Landlord, without deduction or offset (except as expressly set forth in Exhibit B attached hereto and except as provided above with respect to the term. prepaid rent for the first month and the Fourth Floor Abated Monthly Installment of Rent, the Ninth Floor Abated Monthly Installment of Rent and the Tenth Floor Abated Monthly Installment of Rent), without notice or demand, at the Rent Payment Address, as set forth on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default resulting from Tenant’s failure to pay rent occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within thirty (b30) Any sumdays after Landlord’s notice, amountwhichever is later. Unless specified in this Lease to the contrary, item or charge all amounts and sums payable by Tenant hereunder to Landlord pursuant to this Lease shall be deemed additional rent. 3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and except economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed as otherwise specifically provided hereinfollows: (i) Tenant shall not be required to pay any late charge with respect to the first such late payment in any twelve (12) month period of the Term of this Lease or any extension thereto; (ii) if Tenant fails to pay rent or any other sum when due and payable pursuant to this Lease a second time during any twelve (12) month period commencing on the date of the first late payment, Tenant shall be required to pay a late charge equal to $5,000.00 for the second such late payment in such twelve (12) month period; and (iii) thereafter, a late charge equal to $7,500.00 shall apply to any subsequent late payment within the foregoing twelve (12) month period. The amount of the late charge to be paid by Tenant shall be reassessed and added to Landlord on the first day Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the month following obligation to pay rent or other payments on or before the date on which Landlord notifies Tenant they are due, nor do the terms of the amount payable or on the tenth day after the giving this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at in the office of Landlord herein designated event said rent or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalspayment is unpaid after date due.

Appears in 1 contract

Sources: Lease (Cray Inc)

Rent. (The TENANT COVENANTS to pay the LANDLORD, at such place or places as the Landlord in writing may from time to time desig- nate, rent as follows: a) A basic monthly rent for the premises of: Basic Monthly Rent - $ commencing , to . b) As additional rent, the Tenant covenants and agrees to shall pay to the Landlord, within twenty five (25) days of being notified to do so, each of the following amounts: 1) All real property taxes, local improvement taxes and school taxes levied, rated or charged in respect of the land and the premises, or either of them; PROVIDED HOWEVER, that if there is an increase in the assessed value of the land or building consequent upon an improvement made after the term commences by the Tenant, then any increase in the taxes attributed to such increase in assessed value shall be paid in its entirety by the Tenant, and alternatively, if there is an increase in the assessed value of the building after the same has been assessed as rental complete, consequent upon an improvement made thereto by a person or persons other than the Tenant and not for the Premisesbenefit of the Tenant, Annual Basic Rental then any increase in taxes attributable to such increase in assessed valuation shall not enter into the sum set forth compu- tation of the increased taxes paid by the Tenant. (Current estimated amount $ per month); 2) All Condominium fees and charges, (and such changes to the fees and charges as may from time to time be determined by the Condominium Association to be applicable to the premises leased), for those items defined from time to time under the pertaining Condominium Association bylaws (Current estimated amounts, Insurance $ monthly, Condo fees $ monthly); 3) Local improvement taxes, special frontage assessments and local benefit assessments that may from time to time be assessed. Notwithstanding the foregoing, the Tenant shall in each year during the Fundamental Lease Provisions, payable in advance currency hereof pay to the Landlord in equal monthly installments one twelfth of the amount the Landlord shall estimate as being the Tenants’ share of the amounts hereinbefore enumerated. The said monthly installments to be paid with and in addition to the monthly rent. Upon determination by the Landlord of the actual amounts applicable the Landlord shall notify the Tenant and within twenty five (25) days the amounts shall be adjusted and paid as between the Landlord and the Tenant. If the period to which the aforementioned expenditures relates does not coincide with a lease year an appropriate portion of such expenditure shall be attributed to the current lease year. SUCH PAYMENTS to be made monthly in advance on the first working day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the termmonth. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Lease Agreement

Rent. (a) Tenant covenants and agrees to shall pay to LandlordLandlord without setoff, as rental deduction, demand, notice or counterclaim an annual rent for the Premises, Annual Premises (the "Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance Rent") of Ten and 50/100 Dollars ($10.50) per square foot. Said Basic Rent shall be paid in equal monthly installments of Ten Thousand Five Hundred and 00/100 Dollars ($10,500.00) and shall be paid in advance on the first (1st) day of each and every calendar month during the Term, beginning on the Commencement Date; provided, however, that if the Commencement Date occurs on a date other than on the first day of each full a calendar month during the termmonth, the first Basic Rent shall be prorated from such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to until the first day of the first full calendar month following month, at which time it shall be due and payable. Tenant shall pay the Basic Rent and all Additional Rent, if any (as defined under this Article 3), by good check or in lawful currency of the United States of America, to Landlord at, or to such other address or in such other manner as Landlord from time to time specifies by advance written notice to Tenant at, or such other address as Tenant from time to time specifies by advance written notice to Landlord. No installment of Basic Rent or Additional Rent shall be deemed paid until received by Landlord. Any payment made by Tenant to Landlord on account of Basic Rent may be credited by Landlord to the payment of any Basic Rent or Additional Rent then past due before being credited to Basic Rent currently due. All sums payable by Tenant under this Lease at any time during the Term, other than Basic Rent, if any, shall be deemed "Additional Rent," and, unless otherwise set forth herein, shall be payable in the termsame manner as set forth herein for Basic Rent. All Basic Rent or Additional Rent not paid to Landlord when due and payable hereunder shall accrue interest thereon until paid in full at the rate of ___________ interest per annum. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, The Basic Rent includes Tenant's proportionate share of real estate taxes assessed against the Building and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentProperty. (c) All rentals payable by Tenant to Landlord under this Lease shall in all events be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay responsible for all rentals herein prescribed when taxes and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and assessments which may be collected assessed against any real or enforced as by law provided in respect personal property of rentalsTenant located within the Premises.

Appears in 1 contract

Sources: Asset Purchase Agreement (St Joe Paper Co)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Base Rent (a) which shall be applied against the Base Rent payable for the first month Tenant covenants is required to pay Base Rent), the Security Deposit, if any, and all insurance certificates evidencing the insurance required to be obtained by Tenant under SECTION 12 of this Lease. Tenant agrees to pay to Landlord, as rental for without prior notice or demand, or abatement, offset, deduction or claim, the Premises, Annual Basic Rental Base Rent described in the sum set forth in the Fundamental Basic Lease ProvisionsInformation, payable in advance at Landlord's address specified in equal monthly installments the Basic Lease Information on the first (1st) day of each full calendar month during commencing on January 1, 1999 (the term"Rent Commencement Date") and continuing throughout the balance of the Term of the Lease. Commencing January 1, 2000, the first such payment Base Rent shall increase annually by four percent (4%) per annum. It is intended by Landlord and Tenant that this Lease be a "triple net lease." Costs and expenses incurred by Landlord on behalf of Tenant and all other sums, charges, costs and expenses specified in this Lease other than Base Rent are to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord as additional rent (collectively, "Additional Rent"). Tenant shall also pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all costs and expenses incurred by Landlord to enforce the provisions of this Lease, including, but not limited to, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the commencement or 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. The prorated Rent shall be paid on the Commencement Date and the first day of the calendar month following in which the date of termination occurs, as the case may be. 8 Subject to SECTION 2.4, all Rent other than Base Rent shall be due and owing on which Landlord notifies Tenant the Commencement Date notwithstanding any delay on Tenant's part to obtain permits and complete construction of the amount Tenant Improvements (described below and in EXHIBIT B attached hereto), whether or not such delay is due to factors within Tenant's control. Tenant expressly agrees and acknowledges that subject to SECTION 2.4, all Rent other than Base Rent shall be due and payable or beginning on the tenth day after Commencement Date whether or not Tenant has commenced operations in the giving Premises and Tenant accepts the risk of any such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentdelays. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Lease Agreement (New Ico Global Communications Holdings LTD)

Rent. (a) Commencing on the Commencement Date and during the Term of this Lease, Tenant covenants and agrees to shall pay to Landlord, as rental for in lawful money of the PremisesUnited States, Annual Basic Rental in the sum at Landlord's address set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the termabove or at such other place or to such other person as Landlord from time to time may designate, the first rental provided for in Exhibit C attached hereto and by reference made a part hereof which is then applicable (such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge rental being herein called "Basic Rent"). Basic Rent shall be payable by Tenant hereunder shall in installments in the amounts provided for in Exhibit C and be deemed additional rent, due and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord payable on the first day of the month following in the months provided for in Exhibit C (herein called "Payment Dates"). (b) All sums, liabilities, obligations and other amounts which Tenant is required to pay or discharge pursuant to this Lease in addition to Basic Rent [other than any amount payable as liquidated damages pursuant to Section 19(b)(ii)(B)], as defined herein, together with any interest, penalty, or other sum which may be added for late payment thereof, shall constitute additional rent hereunder (herein called "Additional Rent"). In the event of any failure on the part of Tenant to pay or discharge any of the foregoing, after notice as provided in Section 19(a)(i)(A), Landlord shall have all rights, powers and remedies provided for herein (or by law or equity or otherwise) in the case of nonpayment of Basic Rent. Tenant may pay Additional Rent directly to the person entitled thereto as long as Tenant is not in default hereunder, beyond the applicable cure period. Tenant will pay to Landlord, on demand, interest at the rate of twelve percent (12%) per annum on (i) overdue installments of Basic Rent, from the seventh (7th) day after the Payment Date, until the date on which such installment of rent is paid, and (ii) any amounts which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall have paid and which shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant as Additional Rent, from the date of payment thereof by Landlord until repaid to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsThe security deposit has been intentionally deleted from this Lease.

Appears in 1 contract

Sources: Lease Agreement (Guitar Center Inc)

Rent. (a) Tenant covenants and agrees to pay to Landlord, as rental rent for the PremisesPremises during the Interim Term and the Primary Term of this Lease, Annual Basic Rental in the sum amounts set forth on EXHIBIT 5-1 hereto, and during each Extended Term the amounts determined pursuant to EXHIBIT 5-2 hereto, and during a Short-Term Extension Period the amounts determined below (herein called the "BASIC RENT") in the Fundamental Lease Provisions, payable monthly installments in advance in equal monthly installments on the first day of each calendar month (herein called the "BASIC RENT PAYMENT DATES") by wire or other electronic transfer of immediately available funds to the Landlord at the address set forth above and/or to such other person or such other place or account at Landlord from time to time may designate to Tenant in writing; provided, Landlord may designate to Tenant in writing that all of the monthly Basic Rent be paid directly to a Mortgagee. The monthly Basic Rent during the Short-Term Extension Period, if any, shall be at the rate of the monthly Basic Rent payable for the last full calendar month during prior to the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term Short-Term Extension Period. Subject to the first day second sentence of subparagraph 7(a), Tenant shall pay when due all taxes payable on Basic Rent and Additional Rent (as defined below), whether imposed on Landlord or Tenant, including without limitation, all sales taxes on such Basic Rent and Additional Rent, but calculated as if the first full calendar month in Basic Rent and the termAdditional Rent were the sole income of Landlord. (b) Any sumTenant covenants that all other amounts, amountliabilities and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease together with every fine, item penalty, interest and cost which may be added for nonpayment or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided hereinlate payment thereof in accordance with this Lease, shall be paid constitute additional rent hereunder (herein called "ADDITIONAL RENT"). In the event of any failure by Tenant to pay or discharge any Additional Rent, Landlord shall have all rights, powers and remedies provided herein or by law in the case of nonpayment of Basic Rent. Tenant also covenants to pay to Landlord on demand an amount (the first day "LATE CHARGE") equal to four percent (4%) of the month following payment amount then due on all installments of Basic Rent or Additional Rent which are more than five (5) days overdue, to cover Landlord's administrative expenses. The actual amount of Landlord's administrative expenses arising by reason of a later payment will be difficult to ascertain and the parties agree that the Late Charge as calculated above is a reasonable estimate thereof. In addition, Tenant further covenants to pay to Landlord on demand interest at the per annum rate of interest equal to five percent (5%) plus the "prime rate" as reported by the WALL STREET JOURNAL, or at the maximum rate permitted by applicable law, whichever is less, on all overdue Basic Rent and Additional Rent from the date on which due until such amount is paid in full. If the WALL STREET JOURNAL discontinues publication or publication of "prime rate," then Landlord notifies Tenant shall substitute a comparable prime rate. Notwithstanding the two prior sentences of this subparagraph 5(b) to the amount payable or contrary, so long as any debt secured by a first Mortgage against the Premises remains outstanding (including such debt as exists on the tenth day after date hereof and any such debt incurred in the giving future), the rate of such notice, whichever interest that shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord apply under this Lease to all overdue Basic Rent and Additional Rent shall be paid the least of (i) the maximum rate permitted by applicable law, (ii) fourteen percent (14%) per annum, and (iii) the interest rate applicable to late payments of interest or principle due with respect to such debt (which interest rate under the existing first Mortgage, is referred to as the "Default Rate"); said lowest rate described in clauses (i), (ii) and (iii) being referred to as the "Mortgage Default Rate"; provided, however, such Mortgage Default Rate shall only apply thereto while Landlord is obligated to pay interest at the office Default Rate on said Mortgage debt (and at all other times the rate described in the two prior sentences of Landlord herein designated or this subparagraph 5(b) shall continue to such other address and/or person or company as Landlord may designate from time apply to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when overdue Basic Rent and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsAdditional Rent).

Appears in 1 contract

Sources: Lease Agreement (Perry-Judds Inc)

Rent. (a) Tenant covenants and agrees to shall pay to LandlordLandlord Adjusted Rental, which is the sum of the monthly Basic Rental, the monthly Excess Operating Expenses and the monthly Excess Taxes (as defined in the Basic Lease Information), as rental for the Premisesestimated by Landlord from time to time, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable monthly installments in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement in lawful money of the United States to Landlord at its address set forth above (or such other address as Landlord shall designate in writing to Tenant) without notice or demand and without any abatement, deduction or set-off. All estimated payments of Operating Expenses paid by Tenant shall be trued up with Landlord at each year-end, through the term to the first day of the first full calendar month in the termLease Term. (b) Any sumIf all of any sum due under this Lease is not received by its due date, amountthen Tenant, item to the extent permitted by law, shall pay, in addition to the sum owed, a late payment charge equal to five percent (5%) of the sum (or charge payable by Tenant portion thereof) which is overdue. If a check remitted to pay any sum due to Landlord hereunder shall not be deemed additional renthonored upon presentment for payment, and except as otherwise specifically provided hereinthen Tenant in addition to the amount owed, shall be paid by Tenant pay to Landlord on the first day demand a fee of the month following the date on which Landlord notifies Tenant five percent (5%) of the amount payable owed. Following the dishonor of any check presented for payment, Landlord may require all further payments to be made hereunder to be made by certified check or on the tenth day money order. Also, if Landlord does not receive any Adjusted Rental within thirty (30) days after the giving due date thereof, or fails to pay any sum (other than Adjusted Rental) which at any time becomes due to Landlord under any provision of this Lease as and when the same becomes due hereunder, then, in either such noticeevent, whichever Tenant shall pay Landlord interest on such overdue amounts from the due date thereof until paid at an annual rate (the “Past Due Rate”) which equals the lesser of (i) eighteen percent (18%) or (ii) the highest rate then permitted by law. All late payment charges and fees for dishonored checks are to reimburse Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of late or dishonored payments. Provision for such late charge, interest or fee for dishonor shall be later. Any such notice in addition to all other rights and remedies available to Landlord hereunder or at law or in equity and shall specify not be construed as liquidated damages or limiting Landlord’s remedies in reasonable detail the basis of such additional rentany manner. (c) All rentals payable by Tenant Tenant’s covenants and obligations to pay Adjusted Rental and all additional rental (collectively, the “Rent”) hereunder are unconditional and independent of any other covenant or condition imposed on either Landlord or Tenant, whether under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shallLease, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected law or enforced as by law provided in respect of rentalsequity.

Appears in 1 contract

Sources: Office Building Lease Agreement (Sento Corp)

Rent. (a) Tenant covenants and agrees to pay Landlord may, as a reasonable condition to Landlord’s consent to any Transfer, increase the amount of Base Rent and recurring Additional Rent payments to the then Fair Market Value. The term “Fair Market Value” for purposes of this Section 11 shall mean the rental rate, including escalations thereof and Operating Expenses applicable thereto, of Comparable Space offered by Landlord in the Building as rental for of the date of the proposed Transfer. The term “Comparable Space” shall mean space that is comparable in size, location and quality to the Premises, Annual Basic Rental in and which is leased for a tenn comparable to the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement term of the term to the first day sublease or remainder of the first full calendar month Term. In the event of a Transfer, Tenant shall pay to Landlord (in the term. (b) Any sum, amount, item or charge addition to Rent and all other amounts payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day under this Lease) either: (i) 100% of the month following rent payable by the date on which Landlord notifies Tenant Transferee in excess of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals Rent payable by Tenant (for the purposes of this computation, if less than all of the Premises is subleased, the additional amounts payable by Tenant shall be determined by application of the rental rate on a per rentable square foot basis); or (ii) all other considerations paid to Landlord under this Lease Tenant, directly or indirectly, by any Transferee, or any other amount received by Tenant from or in connection with any subletting (including sums paid for the sale or rental, or consideration received on account of any contribution of Tenant’s personal property, tenant improvements or allowance, if any, or sums paid in connection with the supply of electricity or HVAC). All such additional amounts shall be paid to Landlord at immediately upon receipt by Tenant of such rent or other consideration. Failure by Tenant to pay Landlord such additional amounts shall be a Default under this Lease (as to Tenant and the office proposed Transferee). Landlord may collect Rent directly from the Transferee, but no Transfer shall be a deemed a waiver of Landlord’s rights under this Section 11 or the acceptance of the proposed occupant or Transferee, or a release of Tenant from the further performance of the covenants obligating Tenant under this Lease. If a Transferee has a lower net worth than Tenant, Landlord herein designated or shall have the right (but not the obligation), in Landlord’s reasonable discretion, to require that the Security Deposit be increased to an amount equal to three (3) times the then monthly Base Rent, and Landlord may make the actual receipt by Landlord of the amount required to establish such Security Deposit a condition to Landlord’s consent to such other address and/or person or company as Landlord may designate from time to time by notice to TenantTransfer. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payableCommons V MOB 9 (HTA BUILDING NO. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth110501) Naples, the amount so paid or incurred shallFL HLYK Florida, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.LLC – Lease

Appears in 1 contract

Sources: Medical Office Building Lease (HealthLynked Corp)

Rent. (a) Tenant covenants and agrees to shall pay to LandlordLandlord as minimum monthly rent, without deduction, setoff, prior notice, or demand, the Basic Monthly Rent described in Paragraph 2.6, above (subject to adjustments as rental for the Premises, Annual Basic Rental provided in the sum set forth attached Addendum), in the Fundamental Lease Provisionsadvance, payable in advance in equal monthly installments on or before the first day of each full calendar month during month, beginning on the term, Rent Commencement Date and thereafter throughout the first such payment to include rent, prorated on a daily basis, for Term. If the period (if any) from the date of commencement of the term to Rent Commencement Date is other than the first day of a calendar month, then the first full calendar month in the term. (b) Any sum, amount, item or charge Basic Monthly Rent payable by Tenant hereunder for the first month of the Term following the Rent Commencement Date (which first month shall be deemed additional rent, and except as otherwise specifically provided herein, payable upon execution of this Lease) shall be paid by Tenant to Landlord prorated on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable the actual number of days during the Term occurring during the relevant month. Notwithstanding the foregoing, if Landlord is delayed in completion of Landlord’s Work due to any act or omission by Tenant or its agents, employees, contractors, or representatives, then in addition to Landlord under this Lease the Basic Monthly Rent payable for the first month of the Term following the Rent Commencement Date, additional rent (at the rate of one-thirtieth of the Basic Monthly Rent per day) for the number of days of such delay. All “Rental” (which includes Basic Monthly Rent, Percentage Rent, if any, and any items designated as “Additional Rent” or referred to as additional rent hereunder) shall be paid to Landlord at the office of same address as notices are to be delivered to Landlord herein designated or pursuant to such other address and/or person or company as Paragraph 2.10, above. Landmark National Ban—Revised 8-16-01 Standard Shopping Lease FINAL 8-16-01 Landlord may designate from time to time by notice to Tenant. /s/ [ILLEGIBLE] Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals./s/ [ILLEGIBLE]

Appears in 1 contract

Sources: Standard Retail Lease (1st Pacific Bancorp)

Rent. (a) 3.1 Tenant hereby covenants and agrees to pay to Landlord, Landlord as rental rent for the Premises, Annual Premises (all of which is collectively referred to as “Rent”) all of the following: (a) an annual basic rent (“Basic Rental Rent”) in the sum set forth in the Fundamental Lease Provisionsof One Hundred Seventy Thousand One Hundred Seventy Dollars and 00/100 ($170,170.00), payable in advance in twelve (12) equal monthly installments of Fourteen Thousand One Hundred Eighty and 85/100 Dollars ($14,180.85), in advance on the first day of each full calendar month during each calendar year, or portion thereof (with appropriate adjustment for any calendar year which does not fall totally within the termTerm), during the first such payment to include rentTerm; provided, prorated on a daily basishowever, that the installment of Basic Rent payable for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in of the term.Term (and if the Term commences on a day other than the first day of a calendar month, that portion of Basic Rent which is payable for such month) shall be due and payable on the execution of this Lease; and (b) Any sumadditional rent (“Additional Rent”) in the amount of any payment referred to as such in any portion of this Lease which accrues while this Lease is in effect (which shall include any and all charges or other amounts which Tenant is obligated to pay Landlord under this Lease, amount, item or charge payable by Tenant hereunder other than Basic Rent). 3.2 Basic Rent shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on adjusted in each calendar year following the first day initial calendar year of the month following the date on which Landlord notifies Tenant of the amount payable Term, or on the tenth day after the giving of such noticeportion thereof, whichever shall be later. Any such notice shall specify as provided in reasonable detail the basis of such additional rentArticle 5 hereof. (c) All rentals payable by Tenant to Landlord 3.3 Basic Rent and all Additional Rent as provided for under this Lease shall be paid promptly when due, in cash or by check, in lawful money of the United States of America, without notice or demand and without deduction, diminution, abatement, counterclaim or set off of any amount or for any reason whatsoever, payable to Landlord Landlord, and delivered to it at its offices at the office of Landlord herein designated address as stated in Article 26 or to such other address and/or person and place as may be designated by notice in writing from Landlord to Tenant from time to time. If Tenant shall present to Landlord more than twice during the Term checks or company as drafts not honored by the institution upon which they are issued, then Landlord may designate require that future payments of Rent and other sums thereafter payable be made by certified or cashier’s check. 3.4 Other remedies for non-payment of Rent notwithstanding, any installment of Rent which is not paid within ten (10) days after the due date shall be subject, at Landlord’s option each month, to a late charge equal to five percent (5%) of the amount due, which shall be payable as Additional Rent. Any installment of Basic Rent or Additional Rent not paid within thirty (30) days from the date due shall accrue interest at the rate of four percent (4%) higher than the rate announced by First Security Bank, Lexington, Kentucky (or its successor) from time to time as its prime rate (the “Prime Rate”) (but in no event higher than the maximum rate allowed by notice law) until paid in full, which interest shall be deemed Additional Rent. 3.5 No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installments of Rent herein stipulated shall be deemed to Tenant. Tenant will promptly pay all rentals herein prescribed when be other than on account of the earliest stipulated Rent nor shall any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed an accord and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's optionsatisfaction, and Landlord may accept such check for payment without prejudice to Landlord’s right to recover the balance of such Rent or to pursue any other remedy provided in this Lease. 3.6 It is agreed by Landlord and Tenant that no Rent for the use, occupancy or utilization of the Premises shall be, or is, based in whole or in part on notice to Tenantthe net income or profits derived by any person from the Building, Project or the Premises, and Tenant further agrees that it will not enter into any sublease, license, concession or other agreement for any use, occupancy or utilization of the Premises which provides for rent or other payment for such use, occupancy or utilization based in whole or in part on the net income or profits derived by any person from the Premises so leased, used, occupied or utilized. Nothing in the foregoing sentence, however, shall be considered additional rentalsconstrued as permitting or constituting Landlord’s approval of any sublease, payable license, concession, or other use, occupancy, or utilization agreement not otherwise approved by Tenant Landlord in accordance with the first installment provisions of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsparagraph 15.1 hereof.

Appears in 1 contract

Sources: Lease Agreement (Windstar Energy, LLC)

Rent. A. Unless otherwise specified on Schedule 1, the rent (a“Rent”), shall be an amount equal to the Basic Allowance for Housing (“BAH”) Tenant covenants at the applicable BAH rate for the service member Tenant’s duty station and agrees to pay to Landlord, as rental military grade [which shall include any Owner provided utilities] OR [minus the utility allowance for the Premises, Annual Basic Rental as defined in the sum set forth utility allowance addendum] [and minus Rent concessions identified in Box 8 on Schedule 1 if applicable]. If Tenant’s duty station is not at [Insert Name of Installation] (the Fundamental Lease Provisions“Installation”) where the Premises are located, BAH shall be determined in accordance with Service policy applicable to such Tenant2. Rent shall be payable in advance arrears (i.e., each Rent payment pays Rent for the previous month) in equal monthly installments installments. Rent is due on the first calendar day of each full calendar month identified in Box 7 on Schedule 1. If ▇▇▇▇▇▇’s BAH rate changes at any time during the termterm of this Lease, the first such payment to include rent, prorated on a daily basis, for the period Tenant must notify Owner within thirty (if any30) from the date of commencement calendar days of the term change. Notwithstanding the foregoing, upon an increase in Tenant’s BAH, Rent shall increase automatically to the new BAH rate, whether or not Tenant provides notice to Owner of such increase and Tenant waives any notice from Owner of an automatic rent increase. If this Lease begins after the first day of the first full calendar month, Tenant shall pay the prorated amount based upon 1/30th of the monthly Rent. Tenant shall pay the partial month Rent shown in Box 16 on Schedule 1 on the Payment Date in the termfollowing month. (b1) Any sumIf the Premises is occupied by two or more married Tenants, amountboth of whom are active duty service members, item or charge payable the Rent will be the equivalent BAH rate for the highest ranking Tenant, at the With Dependents rate, for the Installation as set out in Box 7 on Schedule 1[minus the Utility Allowance for the Premises (if applicable)]. (2) If the Tenant has been designated as a key and essential employee by Tenant hereunder shall be deemed additional rentthe Installation, and except as is single or not accompanied by family members, the Rent will be equal to the Tenant’s housing allowance at the “Without Dependent rate,” [minus the Utility Allowance for the Premises (if applicable)]. (3) If Owner elects to provide Tenant a home in a housing category higher than Tenant’s military pay grade, then the Rent will be based on the applicable BAH rate for the Tenant’s military pay grade. If Tenant elects to reside in a home that is in a housing category higher or lower than Tenant’s military pay grade, then the parties shall execute an addendum that states the basis and amount of the Rent. B. Unless otherwise specifically provided hereinfor in the Community Specific Addendum, Rent shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable through (i) Unit Diary Entry Electronic Funds Transfer (UDEFT) (Marine Corps), (ii) Military Assistance Company (MAC) [▇▇▇▇] (Navy/Air Force/Army), or on the tenth day after the giving of such notice(iii) PeopleSoft (Coast Guard), whichever shall be laterif applicable (each, as applicable, a “Rent Payment Service Option”). Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall If a Rent Payment Service Option is not applicable, Rent may be paid to Landlord Owner or its designated agent by payroll allotment/deduction (the “Allotment”). Rent and all other charges owed by ▇▇▇▇▇▇ and not paid by a Rent Payment Service Option or Allotment will be payable by another means reasonably directed by Owner, which at the office of Landlord herein designated Owner’s option may include personal check, certified check, money order, automated clearing house or to such through other address and/or person or company as Landlord payment methods (e.g. online/website, smart device application) which alternate means may designate be changed from time to time by with 30 days written notice to TenantTenant and each of which may be subject to applicable service charges. Owner will apply payments to any previously owed Rental amounts prior to current Rents or as otherwise required by applicable law. C. After the Premises is vacated, any refund due to Tenant will promptly be made within thirty (30) calendar days of Owner’s or Community Manager’s receipt of the Allotment applicable to month of move-out or within the time period required by applicable law as noted in the Community Specific Addendum. D. Tenant may be required to pay all rentals herein prescribed when and a security deposit, if any, as the same more particularly set forth on Schedule 1. Owner shall become due and payable. If Landlord shall pay any monies or incur any expenses hold such security deposit in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant accordance with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided terms in respect of rentalsthe Community Specific Addendum.

Appears in 1 contract

Sources: Lease Agreement

Rent. (a) Tenant covenants and agrees to pay to Landlord, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments The Minimum Rent shall be increased on the first day of each full calendar month Extension ("Rental Adjustment Date") to the "Fair Rental Value" of the Premises, calculated in accordance with the GLA of the Premises, "Fair Rental Value" shall mean the highest rental per square foot of GLA received from new non-equity tenants prior to the applicable Rental Adjustment Date since the execution of the Lease for space located within the Project or, at the option of Landlord, within a radius of five miles of the Project, which space is comparable in use to the Premises. In determining whether space is comparable, improvements made in that space by the tenant thereof shall not be considered, but appropriate consideration shall be given to annual rental rates per square foot of GLA, rent escalations (including type, base year and stop), concessions, such as free rent and tenant improvement allowances, brokerage commissions, lease term, size and location of premises, work letter provisions and other generally applicable terms. At least 30 days prior to the applicable Rental Adjustment Date, Landlord shall submit a written proposal to Tenant stating the proposed Fair Rental Value to be applicable during the termExtension. Tenant shall have 10 days from receipt within which to reject Landlord's proposal. If Tenant fails to give such notice of rejection within such 10-day period, Tenant shall be deemed to have accepted such proposal, in which event such proposal shall become effective as of the first applicable Rental Adjustment Date, and the remainder of this Paragraph shall be inapplicable. If Tenant rejects Landlord's proposal within such payment 10-day period, then Landlord shall have the choice of (i) establishing the Fair Rental Value as the Minimum Rent in effect immediately prior to include rentthe Adjustment Date, prorated on a daily basis, for adjusted upwards by each annual increase in the period (if any) from CPI since the date of commencement the last rent increase; or (ii) submitting the matter to arbitration in accordance with the then-current rules and regulations of the term American Arbitration Association (the "AAA"). The arbitration shall be conducted at the nearest AAA office in the city in which the Premises are located. The parties shall share equally the costs of such proceedings, which shall be conducted by a single neutral arbitrator appointed by application to the first day AAA, in accordance with the then-current AAA rules. Such arbitrator shall meet with representatives of Landlord and Tenant as soon as possible after appointment and shall issue his decisions as to the issues in dispute within 60 days after his appointment. Notwithstanding Tenant's rejection of Landlord's original proposal, during the pendency of such proceedings Tenant shall pay the Fair Rental Value of the first full calendar month Premises as set forth in Landlord's original proposal. Upon resolution or decision of the term. (b) Any sumarbitrator, amountLandlord shall credit the difference, item or charge payable by Tenant hereunder shall be deemed additional rentif any, and except as otherwise specifically provided herein, shall be between the Minimum Rent paid by Tenant pursuant to Landlord on Landlord's original proposal and the first day Minimum Rent which should have been paid for the same period determined by the arbitrator, against subsequent payments of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals Minimum Rent thereafter payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payablePRODUCTS THIS CERTIFICATE IS ISSUED AS A MATTER OF Technology Insurance Services INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE Inc. CERTIFICATE HOLDER. If Landlord shall pay any monies or incur any expenses in correction THIS CERTIFICATE DOES NOT 400 ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇ ▇▇▇ER THE COVERAGE AFFORDED BY Port of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsRedw▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇HE POLICIES BELOW.

Appears in 1 contract

Sources: Standard Industrial Lease (Sterigenics International Inc)

Rent. Tenant shall pay to Landlord as rental for the use and occupancy of the premises, at the times and in the manner hereinafter provided, the following sums of money: (a) Tenant covenants and agrees to shall pay to Landlord, as rental for the Premises, Annual Basic Rental Landlord basic rent in the sum set forth amount specified in the Fundamental Basic Lease ProvisionsInformation per year, payable in advance in equal monthly installments in advance on the commencement of the term hereof and on or before the first day of each full and every successive calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of term hereof. If the term to commences on other than the first day of a calendar month, the first full calendar month in payment of rent shall be appropriately prorated on the termbasis of a 30-day month. (b) Any sumTenant shall pay, amount, item or charge payable by Tenant hereunder shall be deemed as additional rent, all sums of money required to be paid to Landlord as stated above and except as otherwise specifically provided herein, shall all other sums of money or charges required to be paid by Tenant hereunder in addition to Landlord on basic rent, whether or not the first day same are designated "additional rent". If such amounts or charges are not paid at the time provided in this Lease, they shall nevertheless be collectible as additional rent with the next installment of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such noticeminimum rental thereafter falling due, whichever but nothing herein contained shall be laterdeemed 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. Any such notice shall specify in reasonable detail the basis All amounts of such additional rent. (c) All rentals money payable by Tenant to Landlord under this Lease Lease, if not paid when due, shall bear interest from the due date until paid at the rate of the greater 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 paid made to Landlord without deduction or offset in lawful money of the United States of America at the office of Landlord herein designated Landlord's address for notices hereunder, or to such other address and/or person or company at such other place as Landlord may designate from time to time by notice 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 promptly pay all rentals herein prescribed when and as the same shall become due and payable. If cause Landlord shall pay any monies or to incur any expenses in correction of violations of covenants herein set forthcosts not contemplated by this Lease, the exact amount so paid or incurred shallof which will be extremely difficult to ascertain. Such costs include, at Landlord's optionbut are not limited to, processing and accounting charges, and late charges which may be imposed on notice to TenantLandlord by the terms of any mortgage or trust deed covering the premises. Accordingly, be considered additional rentals, payable by Tenant with the first if any installment of rent thereafter becoming 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 payablereasonable 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 may be collected remedies available to Landlord hereunder or enforced as by law provided in respect of rentalsat law.

Appears in 1 contract

Sources: Lease Agreement (Cellular Technical Services Co Inc)

Rent. Prior to the Fourth Amendment Extended Term, the base rent (a"Base Rent") payable by Tenant covenants and agrees shall continue to pay to Landlord, be as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease ProvisionsLease. During the Fourth Amendment Extended Term, payable in advance in equal Tenant shall pay monthly installments of Base Rent to Landlord for the Premises as set forth in the following schedule: Notwithstanding anything to the contrary contained in the Lease, from and after the Effective Date, (i) Tenant shall be liable for and shall pay before delinquency, taxes levied against Tenant's equipment, furniture, fixtures and any other personal property located in or about the Premises, and (ii) Tenant shall pay prior to delinquency any (A) rent tax or sales tax, service tax, transfer tax or value added tax, or any other applicable tax on the first day of each full calendar month during rent or services herein or otherwise respecting the termAmended Lease, the first such payment to include rent, prorated on a daily basis, for the period (if anyB) from the date of commencement of the term taxes assessed upon or with respect to the first day of the first full calendar month in the term. (b) Any sumpossession, amountleasing, item operation, management, maintenance, alteration, repair, use or charge payable occupancy by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable Premises or any portion of the Project (as defined below), including the Project parking facilities; or (C) taxes assessed upon this transaction or any document to which Tenant is a party creating or transferring an interest or an estate in the Premises. If taxes on Tenant's equipment, furniture, fixtures and any other personal property are levied against Landlord or Landlord's property or if the tenth day after assessed value of Landlord's property is increased by the giving inclusion therein of a value placed upon such equipment, furniture, fixtures or any other personal property and if Landlord pays the taxes based upon such increased assessment, which Landlord shall have the right to do regardless of the validity thereof but only under proper protest if requested by Tenant, Tenant shall upon demand repay to Landlord the taxes so levied against Landlord or the proportion of such noticetaxes resulting from such increase in the assessment, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and case may be collected or enforced as by law provided in respect of rentalsbe.

Appears in 1 contract

Sources: Lease (C3.ai, Inc.)

Rent. (a) Tenant covenants and agrees to pay to All rent is payable through the Tenant’s Resident Portal Account, or such other place or address designated by Landlord. Tenant, as rental in return for the Premisesuse of the Unit and in consideration of the terms, Annual Basic Rental in conditions, covenants, and provisions contained herein, shall pay Landlord the sum set forth in of [Format(Prospect.UserDefinedField("Lease Prep- Total Numeric Amount for Entire Lease"),"Currency"], without offset or deduction (the Fundamental “Rent”). Tenant hereby acknowledges that the Term of this Lease Provisionsmay be less than a full calendar year, and the Rent has been allocated into installments of [Format(Prospect.UserDefinedField("Lease Prep- Numeric Monthly Rent (0,000.00)"),"Currency")]. Monthly Rent, together with any other payment of Rent due together therewith shall be payable in advance in equal without further notice, demand or deduction as follows: The first (1st) installment of monthly installments Rent shall be due on or before the Commencement Date and all payments of monthly Rent due thereafter shall be paid on or before the first (1st) day of each full calendar month during the term, entire Term. Time is of the essence and Rent is past due if not ACTUALLY RECEIVED by Landlord on or before the due date. The first such payment installment of monthly Rent is [Format(Prospect.UserDefinedField("Lease Prep- Numeric First Month's Rent (0,000.00)"),"Currency"]. Tenant's obligation to include rent, prorated on a daily basis, pay Rent shall be independent of any of Landlord's obligations hereunder. To the extent that Tenant is required or obligated to pay any amounts hereunder to or for the period (if any) from the date benefit of commencement of the term Landlord, which shall be in addition to the first day of the first full calendar month in the term. (b) Any summonthly scheduled Rent as provided above, amount, item or charge payable by Tenant hereunder such amounts shall be deemed and considered as additional rentRent, and except in all respects intended to be included and considered as otherwise specifically provided herein"Rent", shall as such term is defined in the Act. Should any Rent or additional Rent be paid by due, outstanding, unpaid or accrued at the time of the expiration or earlier termination of this Agreement, the duty, liability and obligation of Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due survive such expiration or termination. Additional Rent and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and monthly charges will be listed on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsseparate addenda.

Appears in 1 contract

Sources: Rental Agreement

Rent. Tenant shall timely pay to Landlord Rent (a) as defined in the Basic Lease Information), including the amounts set forth in Exhibit C hereto, without notice, demand, deduction or set-off (except as otherwise expressly provided herein), by good and sufficient check drawn on a national banking association at Landlord’s address provided for in this Lease or as otherwise specified by Landlord and shall be accompanied by all applicable state and local sales or use taxes, if applicable. Except as otherwise expressly set forth herein, the foregoing covenants of Tenant are independent covenants and agrees Tenant shall have no right to pay withhold or ▇▇▇▇▇ any payment of Base Rent, Additional Rent, Taxes, Insurance or other payment, or to Landlordset off any amount against the Base Rent, as rental for Additional Rent, Taxes, Insurance or other payment then due and payable, or to terminate this Lease, because of any breach or alleged breach by Landlord of this Lease or because of the condition of the Premises, Annual Basic Rental . Tenant hereby acknowledges and agrees that it has been represented by counsel of its choice and has participated fully in the sum negotiation of this Lease, that Tenant understands that the remedies available to Tenant in the event of a default by Landlord may be more limited than those that would otherwise be available to Tenant under the common law in the absence of certain provisions of this Lease, and that the so-called “dependent covenants” rule as developed under the common law (including, without limitation, the statement of such rule as set forth in the Fundamental Restatement (Second) of Property, Section 7.1) shall not apply to this Lease Provisionsor to the relationship of landlord and tenant created hereunder. Base Rent, adjusted as herein provided, shall be payable monthly in advance in equal monthly installments beginning on the first day of each full Base Rent Commencement Date. The monthly Base Rent for any partial calendar month during which the termBase Rent Commencement Date occurs shall equal the product of 1/365 (or in the event of a leap year, the first such payment to include rent, prorated on a daily basis, for the period (if any1/366) from the date of commencement of the term to annual Base Rent in effect during such partial month and the first day number of the first full calendar month days in the term. (b) Any sumpartial month, amount, item or charge payable by Tenant hereunder and shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord due on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.Base Rent

Appears in 1 contract

Sources: Office Lease Agreement (Diversa Corp)

Rent. (a) Tenant covenants Subject to subsection (c) below, commencing on and agrees to after the Commencement Date, Lessee shall pay to LandlordLessor all monetary obligations of Lessor under each Prime Lease for its respective Property (including, as rental for the Premiseswithout limitation, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisionsbase, payable in advance in equal monthly installments on the first day of each full calendar month during the termfixed or minimum rent, percentage rent, additional rent, common area maintenance charges, real estate taxes and assessments, insurance charges, waste removal charges, merchants association dues, marketing, advertising and other promotional fund contributions, utility charges, HVAC and chilled water charges) (collectively, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the term"Property Rent"). (b) Any sumCommencing on and after the Commencement Date, amountLessee shall pay directly to Lessor, item or charge at Lessor's office at the address designated for notices to Lessor in Section 11(a) hereof, all other amounts payable by Tenant hereunder shall be deemed additional rentLessee that arise as an independent obligation under this Sublease (the "Additional Rent", and except as otherwise specifically provided hereintogether with the Property Rent, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent"Rent"). (c) Lessor and Lessee agree to cooperate, and to take all reasonably necessary or desirable actions possible, to arrange for all payments by Lessee of the Property Rent with respect to each Property directly to Prime Landlord with respect to such Property, and, with respect to each Property, to otherwise establish a direct relationship between Prime Landlord and Lessee with respect to all matters arising under the Prime Lease with respect to such Property and this Sublease with respect to such Property. All rentals payable by Tenant Property Rent with respect to Landlord under this Lease any Property shall be paid in lawful money of the United States to Prime Landlord with respect to such Property (or, if such Prime Landlord will not agree to such arrangement, then to Lessor at Lessor's office at the office of Landlord herein address designated for notices to Lessor in Section 11(a) hereof in immediately available funds at least two (2) Business Days prior to the date when such Property Rent is due and payable under such Prime Lease), or to at such other address and/or person place as either Prime Landlord or company Lessor may designate, as Landlord the case may designate from time to time be, by notice to TenantLessee. Tenant Lessor and Lessee agree that it is the intention of Lessor and Lessee to pass all of Lessor's obligations for Property Rent incurred under the Prime Lease with respect to each Property to Lessee, and Lessee agrees to pay or otherwise reimburse Lessor for all of Lessor's obligations for Property Rent incurred with respect to each Prime Leases and each Property. If a Prime Landlord will promptly pay all rentals herein prescribed not accept a direct payment from Lessee of Property Rent under the respective Prime Lease, then, provided Lessee shall have delivered such Property Rent payment to Lessor within the time and in the manner specified in this subsection (c), Lessor shall deliver such payment of Property Rent to such Prime Landlord on or prior to the date when and as the same shall become such Property Rent is due and payable. If Landlord payable under such Prime Lease and in such manner as provided under the respective Prime Lease. (d) All obligations of Lessee and Lessor under this Section 4 shall pay any monies survive the termination of the Prime Leases or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalsthis Sublease.

Appears in 1 contract

Sources: Master Sublease (Charming Shoppes Inc)

Rent. A. Minimum Rent (aas hereinafter defined) and Additional Rent (as hereinafter defined) and other charges which shall become due and payable hereunder as set forth herein are sometimes collectively referred to herein as “Rent.” B. All Rent shall be paid to the Landlord at the Landlord’s address, or at such other place or to such other person as the Landlord may designate, in lawful money of the United States of America. C. The Tenant covenants does hereby covenant and agree to pay the Rent herein reserved as and when the same shall become due and payable, without demand therefor and without any set-off or deduction whatsoever, and to keep and perform, and to permit no violation of, each and every one of the covenants, agreements, terms, provisions and conditions herein contained on the part and on behalf of the Tenant to be kept and performed, provided, that set-off or deduction is allowed in the event that Landlord does not make the required reimbursement allowance payments to Tenant as described in Section 49. D. If the Tenant fails or refuses to pay Rent hereunder and the Landlord institutes suit for the collection of same or for possession of the Premises, the Tenant agrees to pay to reimburse the Landlord, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basisAdditional Rent hereunder, for all reasonable expenses incurred by the period (if any) from Landlord in connection therewith, including, but not limited to, reasonable attorney’s fees. If the date payment of commencement of the term any sum required to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by the Tenant to the Landlord under this Lease (including, without limiting the generality of the foregoing, Rent, adjustments or payments made by the Landlord under the provisions of this Lease for which the Landlord is entitled to reimbursement by the Tenant) shall become overdue for ten (10) business days beyond the date on which written notice was given to Tenant of non-payment of rent due and payable as provided in this Lease, then a delinquency service charge equal to five (5%) percent of the amount overdue shall become immediately due and payable to the Landlord as liquidated damages for the Tenant’s failure to make prompt payment. Further, such delinquency service charge shall be payable on the first day of the month following next succeeding the month during which such late charges become payable as Additional Rent, together with interest on the amounts overdue from the date on which they become due and payable computed at the rate of the lower of statutory rate or twelve (12) percent per annum. In the event of nonpayment of any delinquency service charges and interest provided for above, the Landlord notifies shall have, in addition to all other rights and remedies, all the rights and remedies provided for herein and by law in the case of nonpayment of Rent. No failure by the Landlord to insist upon the strict performance by the Tenant of the amount payable Tenant’s obligation to pay late charges shall constitute a waiver by the Landlord of its rights to enforce the provisions of this Section 3 in any instance thereafter occurring. The provisions of this Section 3 shall not be construed in any way to extend any notice period provided for in this Lease. E. Whenever in this Lease the Tenant is required to pay Additional Rent or on other charges to the tenth day after Landlord, the giving Landlord shall have all remedies for the collection thereof that it may have for the nonpayment of such noticeMinimum Rent hereunder. F. This Lease is intended to be a Net, whichever Net, Net Lease and the Rent reserved hereunder shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentabsolutely net to Landlord, except where otherwise specifically set forth herein. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Lease Agreement (Integra Lifesciences Holdings Corp)

Rent. (a) Tenant covenants Subtenant shall pay to Sublandlord a base rent ("Base Rent") in an amount equal to Subtenant's Share (as defined below) of the "Basic Rent" and all "Supplemental Rent" (as such terms are defined in the Prime Lease) and all other amounts due from Sublandlord under the Prime Lease (without duplication of amounts constituting "Operating Expenses", as defined below). Subtenant acknowledges and agrees to pay to Landlordthat Basic Rent under the Prime Lease is payable twice yearly (currently every March 1 and every September 1), as rental for and Supplemental Rent and other amounts due from Sublandlord under the Premises, Annual Basic Rental in the sum set forth in the Fundamental Prime Lease Provisions, are payable in advance in equal monthly installments on the first day of each full calendar month during the term, the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement of the term to the first day of the first full calendar month in the termdemand. (b) Any sum, amount, item or charge The Base Rent shall be payable by Tenant Subtenant to Sublandlord [on a reimbursement basis] [in advance]. Subtenant shall pay to Sublandlord, within ten (10) days of delivery by Sublandlord of an invoice therefor, the Base Rent hereunder accrued through the immediately preceding payment date for Base Rent. If any payments are estimated or adjusted after payment, then at [the end of any calendar year] if Subtenant has paid to Sublandlord an amount in excess of Base Rent for such period, Sublandlord shall be deemed additional rentreimburse to Subtenant any such excess amount (or shall apply any such excess amount to any amount then owing to Sublandlord hereunder, and except as otherwise specifically provided hereinif none, shall be paid by Tenant to Landlord on the first day next due installment or installments of Base Rent due hereunder, at the month following the date on which Landlord notifies Tenant option of the amount payable Sublandlord), or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be if Subtenant has paid to Landlord at Sublandlord less than the office of Landlord herein designated or to Base Rent for such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord period, Subtenant shall pay to Sublandlord any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalssuch deficiency within ten (10) days after Subtenant receives an invoice therefor.

Appears in 1 contract

Sources: Sublease Agreement (Choicepoint Inc)

Rent. (a) Tenant covenants and agrees to pay to Landlord, as rental for Landlord during the Premises, Annual Term the amount of the "Basic Rental Rent" described in the sum set forth in the Fundamental Basic Lease Provisions, Provisions above. Basic Rent shall be payable in advance in equal monthly installments (i.e., one twelfth of the applicable annual total per month), and shall be due on the first (1 st ) day of each full calendar month during the termmonth, the first such payment to include rent, in advance. Basic Rent shall be prorated on a daily basis, for the period (if any) from the date of commencement of the term with respect to the first day and last monthly payments for each applicable period based on the number of the first full calendar month days in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be laterapplicable month. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by sums due from Tenant to Landlord under this Lease shall be deemed Additional Rent. Basic Rent and Additional Rent shall be collectively referred to as "Rent." Rent shall be paid to Landlord without notice or demand and without deduction, abatement or set off of any kind, except as expressly provided in this Lease. No payment by Tenant or receipt by Landlord of an amount less than the Rent and Additional Rent due under this Lease shall be deemed anything other than a payment on account of the earliest of those sums due from Tenant under this Lease. No endorsement or statement on any check or any letter accompanying any check for the payment of Rent or Additional Rent shall be deemed an accord and satisfaction by Landlord, and Landlord may accept any payment from Tenant without prejudice to Landlord's right to recover the balance due, and without prejudice to Landlord to pursue any right or remedy provided to Landlord under this Lease or by law or in equity. 4 5. Construction, Installation & Operation of Solar Facility. (a) Solar Facility Installation. Tenant shall have the right to install the Solar Facility and other improvements expressly set forth herein and approved by Landlord in writing in advance of the installation, all on the Leased Premises and such other areas of the Building and the Property as is expressly provided for in this Lease, all at Tenant's own cost and expense . Installation type shall include solar to the roof and carport as more particularly described on Exhibit C . Tenant shall install Tenant Shall be responsible for all local electric utility approvals, and interconnection and metering arrangements and costs, including, without limitation, any upgrades that may be required in connection with the Building switchgear, and the electric distribution system of the local electric utility . Tenant shall conduct, at its expense, such testing and commissioning of the Solar Facility as may be required by the local electric utility and Legal Requirements, as defined herein, and perform all other work as may be required in order for the Solar Facility to achieve commercial operation in a timely manner . (b) Requirements for Installation, Maintenance, etc . All work performed by or on behalf of Tenant pursuant to this Lease, including, without limitation, initial installation and all subsequent maintenance, repairs, replacements, upgrading, modifying, and removing, shall be subject to the following : (i) the proper functioning of the systems at the office Property, including, without limitation, the mechanical, electrical, plumbing, heating, air conditioning (if any), ventilation, sanitary, sprinkler and other mechanical and other systems of the Building, or any part of the Property, shall not be adversely affected ; (ii) the work shall be of a non structural nature, and the structural integrity of the Property, including, without limitation, the Building, shall not be affected ; (iii) the Solar Facility shall only be installed at those locations shown on the Site Plan ; (iv) Tenant shall cause those contractors, materialmen and suppliers engaged to perform the work to deliver to Landlord herein certificates of insurance (in a form and content reasonably acceptabl e t o Landlord ) evidencing policies of commercial general liability insurance (providing the same coverages as required of Tenant by this Lease) and workers' compensation and employer's liability ( $ 1 , 000 , 000 ) insurance, which insurance policies shall satisfy the insurance obligations imposed on Tenant under this Lease ; (v) the work shall be performed in compliance with all applicable Governmental Approvals required by any Governmental Authority for the performance of the work, all Legal Requirements, and all plans and specifications (that shall be approved by Landlord in advance of the performance of any work, such approval not to be unreasonably withheld, conditioned or delayed) ; (vi) the work shall be performed continuously and diligently, without (c) Temporary Construction Lay - Down Area . Landlord and Tenant shall coordinate with one another so that Tenant shall have sufficient space on the Property designated or to such other address and/or person or company as by Landlord may designate from time to time by notice (and to Tenant. Tenant will promptly pay all rentals herein prescribed when the extent available) for the temporary storage, laydown and as the same shall become due staging of tools, materials and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forthequipment, the amount so paid or incurred shall, at Landlord's option, parking of construction crew vehicles and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due temporary construction trailer and payable, and may be collected or enforced as by law provided in respect of rentalsrigging .

Appears in 1 contract

Sources: Solar Lease (Green Stream Holdings Inc.)

Rent. (a) Tenant covenants and agrees to pay to Landlord, as rental The rent reserved under this Lease for the Premises, Annual Basic Rental in Term hereof shall be and consist of: (i) the sum set forth in the Fundamental Lease Provisions, Fixed Rent payable in advance in equal monthly installments in advance on the first day of each full and every calendar month during the termTerm (except that Tenant shall pay one (1) monthly installment on the Commencement Date, which installment shall be applied to the Monthly Fixed Rent due for the first (1st) month of the Term); plus (ii) such additional rent ("Additional Rent") in an amount equal to Tenant's Operating Expenses and of Real Estate Taxes (as such terms are defined in Paragraph 3 of this Lease); all charges for services and utilities pursuant to Paragraph 15 hereof; and any other charges or amounts that shall become due and payable hereunder, including, without limitation, the first such payment to include rent, prorated on a daily basis, for reasonable expenses incurred by Landlord in the period (if any) from the date enforcement of commencement any of the term to the first day of the first full calendar month in the term. (b) Any sumagreements, amount, item or charge payable by Tenant hereunder shall be deemed additional rentcovenants, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord obligations under this Lease and including reasonable legal fees that may accrue in the event suit for rent or dispossess proceedings are necessary to obtain the possession of the Demised Premises or to collect the rent; all of which Additional Rent shall be payable as hereinafter provided. All rent shall be paid to Landlord at the its office of Landlord herein designated stated above or to such other address and/or person or company as place Landlord may designate from time in writing. If the Commencement Date shall occur on a date other than the first calendar day of a month, the rent for the partial month commencing on the Commencement Date shall be appropriately pro-rated on the basis of the monthly rent payable during the first year of the Term. (b) Tenant does hereby covenant and agree to time by notice to Tenant. Tenant will pay promptly pay all rentals the Fixed Rent and Additional Rent herein prescribed reserved as and when and as the same shall become due and payable, without demand therefor and without any set-off, recoupment, or deduction whatsoever. If All Additional Rent payable hereunder that is not due and payable on a monthly basis during the Term, unless otherwise specified herein, shall be due and payable within thirty (30) days of delivery by Landlord to Tenant of notice to pay the same. (c) In the event that any payment of Fixed Rent or Additional Rent shall pay any monies or incur any expenses in correction of violations of covenants herein set forthnot be paid within five (5) days after the due date for the same as provided herein, Tenant shall pay, together with such payment, the amount so Late Charge. Furthermore, if Tenant fails to remit a full monthly installment of the Monthly Fixed Rent or of the Additional Rent as provided herein for two (2) consecutive months, then Landlord may require (i) all Fixed Rent and Additional Rent payments to be paid or incurred shallin advance on a quarterly annual basis, at Landlord's optionrather than a monthly basis, and on notice (ii) an increase in an amount equal to Tenant, be considered additional rentals, payable by Tenant with the first one (1) installment of rent thereafter becoming due Monthly Fixed Rent in the Security Deposit. In addition, if Tenant submits to Landlord a check for which there are insufficient funds available, then Landlord may charge Tenant as Additional Rent an administrative and payable, handling fee in the amount of One Hundred and may be collected or enforced as by law provided in respect of rentals00/100 Dollars.

Appears in 1 contract

Sources: Lease Agreement (Logical Design Solutions Inc)

Rent. (a) Tenant covenants and Beginning on the Commencement Date, but subject to the Abated rent Period described above, Subtenant agrees to pay to Landlord, as rental for the Premises, Annual Basic Rental in the sum Fixed Rent set forth in Section 1(L) to the Fundamental Payee specified in Section 1(M), by ACH transfer in accordance with the instructions provided in Section 1(O)), or to such other payee or at such other address as may be designated by notice in writing from Sublandlord to Subtenant, without prior demand therefor and without any deduction or set off whatsoever (except as expressly set forth herein or in the Prime Lease Provisions, payable as incorporated herein). Annual Fixed Rent shall be paid in monthly installments (as set forth in Section 1(L)) in advance in equal monthly installments on the first day of each full month of the Term after the Commencement Date. Annual Fixed Rent shall be pro-rated for any partial calendar month during at the termbeginning and end of the Term, All charges, costs and sums required to be paid by Subtenant under this Sublease in addition to Annual Fixed Rent, shall be deemed “Additional Rent” and Annual Fixed Rent and Additional Rent shall hereinafter collectively be referred to as “Rent”. Subtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. Any amount due from Subtenant to Sublandlord under this Sublease that is not paid when due shall bear annual interest from the first due date at the lesser of (i) three percent (3%) above the prime rate as reported in The Wall Street Journal on the date closest to the date such payment was required to include rentbe made hereunder and (ii) the highest legal rate permitted under the laws of the Commonwealth of Massachusetts (the “Interest Rate”), prorated on a daily basis, for the period (if any) such interest to accrue from the date of commencement of the term to the first day of the first full calendar month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, and except as due until paid unless otherwise specifically provided herein, but the payment of such interest shall be paid not excuse or cure any default by Tenant Subtenant under this Sublease. Notwithstanding the foregoing, Sublandlord agrees to Landlord on waive the payment of interest as provided in the immediately preceding sentence with respect to the first day late payment of the Rent during any twelve-month following the date period. Sublandlord shall also be entitled, on which Landlord notifies Tenant account of a failure by Subtenant to make any payment of Rent when due (except with respect to a first late payment of Rent during any twelve-month period), to charge as Additional Rent a fee equal to five percent (5%) of the amount payable or on the tenth day after the giving of due as compensation for Sublandlord’s administrative costs in investigating and collecting such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rentlate payment. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.

Appears in 1 contract

Sources: Sublease (Chiasma, Inc)

Rent. The rent payable by Sub-subtenant for the Premises shall ---- consist of basic rental ("Basic Rent") plus certain additional rental ("Additional Rent"), all as provided below. Basic Rent, Additional Rent, and any other charges due under this Sub-sublease are hereinafter referred to collectively as "Rent." (a) Tenant covenants and agrees to From the Commencement Date until the first anniversary of the Commencement Date, or if such date is not the first day of a calendar month, until the first day of the calendar month in which such date occurs, Sub- subtenant shall pay to LandlordSub-sublandlord in advance, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on or before the first day of each full calendar month during month, without deduction or offset, monthly Basic Rent in the term, amount of $75,900.00 per month. (b) From the first such payment to include rent, prorated on a daily basis, for the period (if any) from the date of commencement anniversary of the term to Commencement Date, or if such date is not the first day of a calendar month, from the first day of the first full calendar month in which such date occurs, until the term. (b) Any sumtermination of this Sublease, amountSub-subtenant shall pay to Sub-sublandlord in advance, item on or charge payable by Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on before the first day of the month following the date on which Landlord notifies Tenant of each month, without deduction or offset, monthly Basic Rent in the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent$80,500.00 per month. (c) All rentals payable Sub-subtenant also shall pay, as Additional Rent, all additional rental amounts and such other charges as may be imposed by Tenant to Landlord Sublandlord upon Sub-sublandlord under this Lease the Master Sublease. (d) To the extent that Additional Rent due under the Master Sublease is on a monthly basis, such Additional Rent shall be paid to Landlord Sub-sublandlord as en Basic Rent is paid. All Rent shall be paid to Sub-sublandlord at the office of Landlord herein designated address specified for Sub-sublandlord below, or to such other address and/or person or company to such other place as Landlord Sub-sublandlord may designate from time to time by designate in writing. To the extent that Additional Rent is payable on an estimated basis pursuant to the Master Sublease, the Additional Rent due hereunder shall be adjusted between the parties (with appropriate reimbursements or additional payments) within twenty (20) days after the actual Additional Rent due under the Master Sublease has been determined and notice thereof has been delivered to Tenant. Tenant will promptly Sub-subtenant. (e) Sub-sublandlord shall pay all rentals herein prescribed when "Rent" and as other monetary amounts required to be paid under the same shall Master Sublease (collectively, "Underlying Rent") on or before the date such amounts become due and payablepayable thereunder. If Landlord Sub-sublandlord fails to make any payment of Underlying Rent as and when required under the Master Sublease, Sub-subtenant shall pay have the right, but not the obligation, to make such payments on behalf of Sub-sublandlord, in which event Sub-subtenant shall have the right to offset any monies or incur any expenses in correction of violations of covenants herein set forth, the amount amounts so paid against Rent payable under this Sub-sublease. (f) In the event of any casualty or incurred shallcondemnation affecting the Premises, at Landlord's option, and on notice to Tenant, be considered additional rentals, Rent payable by Tenant Sub-subtenant shall be proportionately abated, but only as to the portion of the Premises damaged or taken; and only to the extent that Underlying Rent payable under the Master Sublease is abated. Sub- subtenant shall have no right to terminate the Sub-sublease in connection with any casualty or condemnation except to the first installment of rent thereafter becoming due and payable, and may be collected extent that the Master Sublease is also terminated as to the Premises or enforced as by law provided in respect of rentalsany portion thereof.

Appears in 1 contract

Sources: Sub Sublease (Egain Communications Corp)

Rent. (a) 5.1 Tenant covenants and agrees to pay to Landlord, Landlord as rental Basic Annual Rent for the Premises, Annual Basic Rental in Premises the sum set forth in Section 2.1.2, subject to the Fundamental Lease Provisions, payable rental adjustments provided in advance Article 6. Basic Annual Rent shall be paid in the equal monthly installments set forth in Section 2.1.3, subject to the rental adjustments provided in Article 6 hereof, each in advance on the first day of each full and every calendar month during the termterm of this Lease. 5.2 In addition to Basic Annual Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”), at the first times hereinafter specified in this Lease, Operating Expenses as provided in Article 7, Taxes and Assessments, reimbursement and expenses of Landlord’s performance of any obligations of Tenant under this Lease, and all other amounts that Tenant assumes or agrees to pay under the provisions of this Lease, including without limitation any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant. 5.3 Basic Annual Rent and Additional Rent shall together be denominated “Rent.” Except as expressly set forth in this Lease, Rent shall be paid to Landlord, without notice, demand, abatement, suspension, deduction, setoff, counterclaim, or defense except as set forth in this Lease or pursuant to law (unless otherwise set forth in this Lease), at the office of Landlord as set forth in Section 2.1.7 or to such payment other person or at such other place as Landlord may from time to include rent, prorated time designate in writing. 5.4 In the event the term of this Lease commences or ends on a daily basis, for the period (if any) from the date of commencement of the term to day other than the first day of a calendar month, then the first full calendar Rent for such fraction of a month in the term. (b) Any sum, amount, item or charge payable by Tenant hereunder shall be deemed additional rent, prorated for such period on the basis of a thirty (30) day month and except as otherwise specifically provided herein, shall be paid by Tenant at the then current rate for such fractional month prior to Landlord on the first day commencement of the month following partial month. 5.5 This is an absolutely triple net lease to Landlord. It is the date on which Landlord notifies Tenant intent of the amount parties that the Basic Annual Rent payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable by Tenant to Landlord under this Lease shall be paid a net return to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. and that Tenant will promptly shall pay all rentals herein prescribed when costs and as expenses relating to the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law Premises unless otherwise expressly provided in respect of rentalsthis Lease.

Appears in 1 contract

Sources: Purchase Agreement (Ligand Pharmaceuticals Inc)

Rent. (a) Tenant covenants and agrees to shall pay to LandlordLandlord without demand, deduction or set off, for each month of the entire Lease term Basic Rental, the Common Area Maintenance Fee and Utility Charges (Tenant's share of commonly billed utilities) (all as rental for set out in paragraph 1). Payments are due at Landlords then current physical location or at the PremisesPost Office Box designated by Landlord in writing from time to time. Until further notice, Annual Basic Rental payments are due at the address set out in this Lease document. Tenant shall, contemporaneously with the execution of this Lease, pay Landlord the following: (i) the security deposit set out in paragraph (1) above and (ii) an initial full months installment of rent (as defined in paragraph 1 (e)). A monthly installment in the sum set forth amounts defined in the Fundamental Lease Provisions, paragraphs 1(e) above shall be due and payable in advance in equal monthly installments on or before the first day of each full succeeding calendar month during the Lease term. 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 without liability for interest and as security for the performance by Tenant of Tenant's covenants and obligations under this Lease, it being expressly understood that the deposit shall not be considered an advance payment of any rental or a measure of Landlord's damages in case of default by Tenant. If Tenant fails to timely pay any sums due under this Lease or defaults in its obligations under this Lease. Landlord may, from time to time, without prejudice to any other remedy, use the security deposit to the extent necessary to make good any arrearages of Basic Rental, Common Area Maintenance Fee, Utility Charges, Additional Rental or any, damage, injury, expenses or liability to Landlord. Following any such application of the security deposit, Tenant shall immediately pay to Landlord, on demand, the amount so applied in order to restore the security deposit to its original amount, 30 days after termination of this Lease and vacating of the Premises by Tenant, Landlord shall return any remaining balance of the security deposit to Tenant so long as Tenant has full performed its obligations under this Lease and provided Landlord with written notice of its forwarding address. If Landlord transfers its interest in the Premises during the Lease term, Landlord may assign the first such payment security deposit to include rent, prorated on a daily basis, the transferee and thereafter shall have no further liability for the period (if any) from return of such security deposit. Time is of the essence as to all required payments by Tenant under any provision of this Lease. If any monthly installment of Basic Rental, the Common Area Maintenance Fee, or the Utility Charge is not received by the Landlord on or before the 5th day of the month for which said monthly rental installment is due, a service charge of 10% of the delinquent installment shall become due and payable in addition to the monthly installment owed. The date that a check is dated or mailed is not relevant in determining Tenant's liability for a late fee; Landlords accounting records are the determining record of the date of commencement receipt of a rent payment. The service charge is for the term to purpose of reimbursing Landlord for the first extra costs and expenses incurred in connection with the handling and processing of late monthly rental. If the delinquent amount is not paid by the 1st day of the first full calendar month in following month, then the term. delinquent amount (bnot including the service charge) Any sumshall bear interest at the Lesser of: (1) 18 per cent per annum, amountor (2) the maximum lawful contract rate, item or charge payable by Tenant hereunder such interest shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant begin to Landlord accrue on the first day 1st of the month following the date on which Landlord notifies Tenant delinquency and continue until payment of the delinquent amount payable or on the tenth day after the giving of such notice, whichever shall be lateris made. Any such notice shall specify in reasonable detail the basis of such additional rent. (c) All rentals payable If any check that is tendered to Landlord by Tenant to Landlord for any charges due under this Lease is returned to Landlord by Tenants financial institution for any reason (including but not limited to absence of Tenants signature, insufficient funds, stop payment, or closed account) then, in addition to any other liability of Tenant for the amount of the check. Tenant shall be paid liable to Landlord at for a service fee of $50.00 for each returned check. Landlord has no obligation to redeposit any check that is returned for any reason and Tenant shall immediately cure the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate non-payment that has resulted from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payablereturned check. If Landlord shall pay any monies receives 2 or incur any expenses in correction more returned checks during the term of violations of covenants herein set forththis Lease, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, then Landlord may require that all future payments from Tenant be considered additional rentals, payable made by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentalscashiers check.

Appears in 1 contract

Sources: Lease Agreement (Ramp Corp)