Common use of Rent Clause in Contracts

Rent. a. Tenant shall pay Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 2 contracts

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

Rent. a. 3.1. The Tenant shall punctually pay Landlord as rent the Rent for the Leased Premises Base for the Term to the Landlord in the amounts and at the times set forth below, without b▇▇▇ or other demand and without any offset, deduction or abatement whatsoever, except as may be otherwise specifically set forth in this Agreement. 3.2. The Basic Rent for the Leased Premises during the Initial Term shall be at the rate per year set forth below. The annual rate of Basic Rent for the Leased Premises during any Renewal Term shall be calculated as set forth in subsection 6.1.4 of this Agreement for the respective Renewal Term. 3.3. The Tenant shall punctually pay the applicable Basic Rent in equal monthly installments in advance on the first day of each month during the Term, with the exception of Basic Rent for the first full calendar month of the Initial Term and for any period of less than a full calendar month at the beginning of the Term. Such amounts The Tenant shall be due pay the Basic Rent for the first full calendar month of the Initial Term upon execution and payable delivery of this Agreement. The Tenant shall punctually pay the Basic Rent for a period of less than a full calendar month at the beginning of the Term on the Commencement Date Date. 3.4. The Basic Rent and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Additional Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional period of less than a full calendar month shall be prorated. Concurrently with TenantIn the event that any installment of Basic Rent cannot be calculated by the time payment is due, such portion as is then known or calculable shall be then due and payable; and the balance shall be due upon the Landlord’s delivery giving notice to Landlord the Tenant of an executed copy the amount of this Lease, Tenant shall deliver to Landlord the Base balance due. 3.5. The Additional Rent for the first month of Leased Premises during the Tern. b. As Term shall be promptly paid by the Tenant in the respective amounts and at the respective times set forth in more detail below, Landlord this Agreement. 3.6. That portion of any amount of Rent or other amount due under this Agreement which is not paid on the day it is first due shall incur a late charge equal to the sum of: (i) five percent of that portion of any amount of Rent or other amount due under this Agreement which is not paid on the day it is first due and (ii) interest on that portion of any amount of Rent or other amount due under this Agreement which is not paid on the day it is first due at the Base Rate(s) in effect from time to time plus two additional percentage points from the day such portion is first due through the day of receipt thereof by the Landlord. Any such late charge due from the Tenant shall be responsibledue immediately. Anything hereinabove contained to the contrary notwithstanding, without additional it is expressly understood and agreed that no late charge to Tenant, for shall be imposed if Rent is not paid by the maintenance fifth day of the Common Areas, exterior areas month provided that if Rent is not paid by the fifth day of the Project and base Building mechanicalmonth more than twice in any twelve month period then, plumbing and electrical systems serving thereafter, the Premises (but late charge shall be imposed if Rent is not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason the first day of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)month.

Appears in 2 contracts

Sources: Lease Agreement (Foamix Pharmaceuticals Ltd.), Lease Agreement (Foamix Pharmaceuticals Ltd.)

Rent. a. Tenant shall pay Landlord as rent for the Premises all Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first Additional Rent (1stdefined below) day of each calendar month thereafter(collectively, without any deduction “Rent”) to Landlord or offset and Landlord’s agent, without prior notice or demanddemand or any setoff or deduction (except as otherwise provided herein), at the place Landlord may designate from time to time, in lawful money of the United States of AmericaAmerica that, at the address indicated by Landlord from time to timeof payment, is legal tender for the payment of all obligations. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. As used herein, “Additional Rent” means all amounts, other than Base Rent, as so adjusted, shall thereafter be due as provided hereinthat Tenant is required to pay Landlord hereunder. Monthly payments of Base Rent adjustments and monthly payments of Additional Rent for any fractional Expenses (defined in Section 4.2.2), Taxes (defined in Section 4.2.3) and parking (collectively, “Monthly Rent”) shall be paid in advance on or before the first day of each calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord during the Term; provided, however, that the installment of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first full calendar month of the Tern. b. As set forth in more detail below, Landlord for which Base Rent is payable hereunder shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not paid upon Tenant’s specialized equipment)execution and delivery hereof. Except as otherwise provided herein, insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event all other items of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), TenantAdditional Rent shall be paid within 30 days after Landlord’s request for additional services payment. Rent for any partial calendar month shall be prorated based on the actual number of days in such month. Without limiting Landlord’s other rights or damage to the Building remedies, (a) if any installment of Rent is not received by Tenant Landlord or any Tenant Partiesits designee within five (5) business days after its due date, Tenant shall pay Landlord a late charge equal to 5% of the entire cost thereof overdue amount (provided, however, that such late charge shall not apply to any such delinquency unless either (i) such delinquency is not cured within twenty five (205) business days after notice from Landlord, or (ii) Tenant previously received notice from Landlord of request a delinquency that occurred earlier in the same calendar year); and (b) any Rent that is not paid within 10 days after its due date shall bear interest, from its due date until paid, at the lesser of 18% per annum or the highest rate permitted by LandlordLaw (defined in Section 5). All amounts required Tenant’s covenant to be paid by Tenant under this Lease pay Rent is independent of every other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)covenant herein.

Appears in 2 contracts

Sources: Office Lease (Apigee Corp), Office Lease (Apigee Corp)

Rent. a. (a) The Tenant shall pay to the Landlord as rent Base Rent, in legal tender, at the Landlord’s office as set forth in Exhibit “B”, or as directed from time to time by Landlord’s notice, the annual amount set forth in Exhibit “B” payable in equal monthly payments as set forth in Exhibit “B” promptly on the first day of every calendar month of the term, except for the Premises Base Rent for each month during the Term. Such amounts shall be first 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 Commencement Date 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 the greater of: i) $100.00 or ii) ten percent (10%) of the overdue amount. The parties agree that such late charge represents a fair and reasonable estimate of the 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 this Lease and shall be paid without deduction or set-off. (b) It is understood that the Base Rent specified in Paragraph (a) was negotiated in anticipation that the amount of Operating Expenses on the first Property would not exceed $271,970.00 during any calendar year of the term hereof. Therefore, in order that the rental payable throughout the term of the Lease shall reflect any increase in such costs, the parties agree as hereinafter in this Section set forth. The annual Base Rent payable pursuant to Paragraph (1sta) day 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 month thereafteryear. Tenant’s pro rata share of such increase is agreed to be 10%. (A) Operating Expenses shall consist of all expenses, without any deduction or offset costs and without prior notice or demand, in lawful money disbursements (but not specific costs billed to specific tenants of the United States Property) of Americaevery kind and nature, computed on the accrual basis, relating to or 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 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, Tenant’s Share due for the address indicated ensuing twelve (12) months, as estimated by Landlord from time to time, in twelve (12) monthly installments, each in an amount equal to 1/12th of Tenant’s Share so estimated by Landlord commencing on the first day of the month following the month, in which Landlord notifies Tenant of the amount of such estimated Tenant’s Share. Base If, as finally determined, Tenant’s Share shall be greater 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 be increased during survive the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy termination of this Lease. Any payment, refund, or credit made pursuant to this Paragraph (b) shall 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 the Operating Expenses for the full year appropriately adjusted for the period remaining in the Tenant’s Term. (C) Upon receipt of the Landlord’s statement, Tenant does hereby covenant and agree promptly to pay the increases in Rent pursuant to Paragraph (b) of this Section as and when the same shall deliver become due and payable, without further demand therefore, and without any set-off or deduction whatsoever. 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 have the right to inspect the books of Landlord at reasonable times during the business hours of Landlord at Landlord’s office in the Building or, at Landlord’s option, 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 be correct. Such inspection or audit shall be conducted by Tenant or tenant’s employee or Tenant’s auditor; but in no event shall the audit be conducted by a third party whose compensation is contingent upon the results of such audit or the amount of any refund received by Tenant. Tenant hereby agrees to keep the results of any such audit confidential and to 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 (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 for the first month of the Tern. b. As set forth in more detail below, 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 responsible, without deemed additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoingrent and, in the event of Tenant’s disproportionate or afternon-hours use payment thereof, Landlord shall have all the rights and remedies herein provided for in case of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days non-payment of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 2 contracts

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

Rent. a. (a) Each Lease Year (as hereinafter defined), Tenant shall pay to Landlord Base Rent, without setoff or deductions of any kind (except as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and otherwise set forth in this Lease), in equal monthly installments, in advance, on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, Term at the address indicated by of Landlord stated above or such other place as Landlord may designate in writing from time to time, with payment in advance of appropriate fractions of a monthly payment for any portion of a month at the commencement and termination of the Term. Every amount payable by Tenant to Landlord hereunder shall (except as otherwise set forth in this Lease) be paid without setoff or deductions of any kind on demand. Base Rent shall be increased during the Term as provided for in the Basic Lease Informationand Additional Rent are herein collectively called “Rent”. Base Rent, as so adjusted, Any Rent not paid by Tenant within ten (10) days after its due date shall thereafter be due payable with a late charge equal to five (5%) percent of the unpaid rent installment, as provided herein. Additional Rent. (b) Tenant’s obligation to pay Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including shall commence on the Rent Commencement Date. (c) The obligation of Tenant to pay all sums of Additional Rent shall commence on the Commencement Date of the Lease and there shall be no abatement whatsoever of the obligation of Tenant to pay such sums during any and all other sums that may become due by reason period or part of any default lease year during the term of Tenant or failure to comply the Lease. (d) The term “Lease Year” shall mean a period of twelve (12) consecutive calendar months. The first “Lease Year” shall commence on the Commencement Date, and shall end with the terms expiration of this the next succeeding twelve (12) months, plus the number of days, if any, required to have the period end at the expiration of the calendar month, and each Lease to be performed by Tenant, Year shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)run consecutively thereafter.

Appears in 2 contracts

Sources: Lease (Surgiquest Inc), Lease (Surgiquest Inc)

Rent. a. 4.01 Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “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 for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the United States Term, and the first monthly installment of AmericaAdditional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the address indicated by Landlord Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Base Landlord’s acceptance of less than the correct amount of Rent shall be increased considered a payment on account of the earliest Rent due. Rent for any partial month during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s delivery covenant to Landlord pay Rent is independent of an executed copy of every other covenant in this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 2 contracts

Sources: Office Lease Agreement (Quinstreet, Inc), Office Lease Agreement (Quinstreet, Inc)

Rent. a. 3.1 Tenant shall pay to Landlord as rent (the “Rent”) for the Premises Base during Term the Rent for identified on Exhibit L. 3.2 The Rent shall be payable in equal monthly installments within five (5) days of the first day of each and every month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset previous demand therefor and without prior notice offset or demanddeduction of any kind whatsoever, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term except as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As herein specifically set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 belowforth. Notwithstanding the foregoing, in Tenant shall pay the event first month’s installment of Tenant’s disproportionate or after-hours use Rent within five (5) days of utilities (beyond the hours or levels set forth in Section 12)execution of this Lease and, Tenant’s request for additional services or damage to if the Building by Tenant or any Tenant PartiesCommencement Date occurs on other than the first day of a calendar month, Tenant shall pay its pro rata share of Rent for such calendar month. 3.3 All Rent payable hereunder shall be made payable to Landlord and sent to Landlord’s address set forth on the entire cost thereof within twenty corresponding Exhibit L, or to such other person or persons or at such other place as may be designated by written notice from Landlord to Tenant, from time to time, and shall be made in local currency in which the Premises is located (20or as otherwise agreed to by Landlord and Tenant in writing) days which shall be legal tender for all debts, public and private. At Tenant’s option, Rent may be payable when due by wire transfer or other payment of request immediately available funds to an account designated from time to time by Landlord. All amounts required Landlord shall be deemed to be paid by receive such payments when Landlord’s bank actually receives the wire transfer from Tenant’s bank for the account of Landlord. 3.4 Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or avoid this Lease except as expressly permitted in this Lease, notwithstanding any action for bankruptcy, insolvency, reorganization, liquidation, dissolution or other than Base Rentproceeding affecting Landlord or any assignee of Landlord or any action with respect to this Lease which may be taken by any trustee, including receiver or liquidator or by any court. Except as expressly set forth herein, Tenant hereby waives all right (i) to terminate this Lease, or (ii) to surrender this Lease, or (iii) to any abatement, deferment, reduction, set-off, counterclaim or defense with respect to any Rent payable hereunder. Except as expressly set forth herein, Tenant shall remain obligated under this Lease in accordance with its terms and Tenant hereby waives any and all other sums that may become due rights now or hereafter conferred by reason of statute or otherwise to modify or to avoid strict compliance with its obligations under this Lease. Notwithstanding any default of such statute or otherwise, Tenant or failure to comply with shall be bound by all the terms of and provisions contained in this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)Lease.

Appears in 2 contracts

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

Rent. a. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and 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 pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord as rent for by Tenant under this Lease. Such payments shall be paid concurrently with the Premises payments of the Rent on which the tax is based. Base Rent and Additional Rent for each month calendar year or portion thereof during the Lease Term. Such amounts , shall be due and payable on the Commencement Date and in advance in monthly installments on the first (1st) day of each calendar month thereafterduring the Lease Term, without any deduction demand. If the Lease Term commences on a day other than the first day of a month or offset terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and without prior notice Additional Rent (if any) for such month or demandmonths shall be prorated, based on the number of days in lawful money of the United States of America, at the address indicated such month. All amounts received by Landlord from time Tenant hereunder shall be applied first to timethe earliest accrued and unpaid Rent then outstanding. Base Tenant’s covenant to pay Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord independent of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As every other covenant set forth in more detail belowthis Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, Landlord shall a “Late Charge” equal to five percent (5%) of such unpaid amount will be responsible, without additional charge to Tenant, for due and payable with the maintenance next installment of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building Base Rent by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by to Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 2 contracts

Sources: Office Lease (Proquest Co), Sublease Agreement (Voyager Learning CO)

Rent. a. 4.01 From and after the Commencement Date, Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “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 for and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month during without notice or demand, provided that the Terminstallment of Base Rent attributable to the first (1st) full calendar month of the Term shall be due concurrently with the execution of this Lease by Tenant. Such amounts All other items of Rent shall be due and payable on the Commencement Date and on the first or before thirty (1st30) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated days after billing by Landlord from time to timeLandlord. Base Rent shall be increased during made payable to the Term as provided for entity, and sent to the address, that Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Landlord may return to Tenant, at any time within fifteen (15) days after receiving same, any payment of Rent (a) made following any Default (irrespective of whether Landlord has commenced the exercise of any remedy), or (b) that is less than the amount due. Each such returned payment (whether made by returning Tenant’s actual check, or by issuing a refund in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month event Tenant’s check was deposited) shall be proratedconclusively presumed not to have been received or approved by Landlord. Concurrently with Tenant’s delivery to Landlord of an executed copy of this LeaseIf Tenant does not pay any Rent when due hereunder, Tenant shall deliver to pay Landlord an administration fee in the Base Rent for the first month amount of five percent (5%) of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 belowpast due amount. Notwithstanding the foregoing, Landlord will not assess a late charge until Landlord has delivered written notice to Tenant of such late payment for the first late payment in any twelve (12) month period and after Tenant has not cured such late payment within three (3) days from receipt of such notice. No other notices will be required during the event of Tenant’s disproportionate or after-hours use of utilities following twelve (beyond the hours or levels set forth in Section 12)) months for a late charge to be incurred. In addition, Tenant’s request for additional services or damage past due Rent shall accrue interest at a rate equal to the Building by Tenant lesser of (i) twelve percent (12%) per annum or any Tenant Parties(ii) the maximum legal rate, and Tenant shall pay Landlord a fee for any checks returned by Tenant’s bank for any reason. To ascertain whether any interest payable exceeds the entire cost thereof within twenty legal limits imposed, any non-principal payment (20including the administration fee) days shall be considered to the extent permitted by Law to be an expense or a fee, premium or penalty, rather than interest. Landlord’s acceptance of request less than the correct amount of Rent shall be considered a payment on account of the oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Accordingly, Tenant hereby waives the provisions of California Uniform Commercial Code §3311 (and any similar Law that would permit an accord and satisfaction contrary to the provisions of this Section 4.01). Any partial payment shall be treated as a payment on account, and Landlord may accept such payment without prejudice to Landlord’s right to recover any balance due or to pursue any other remedy permitted by this Lease. No payment, receipt or acceptance of Rent following (a) any. Default; (b) the commencement of any action against Tenant; (c) termination of this Lease or the entry of judgment against Tenant for possession of the Premises; or (d) the exercise of any other remedy by Landlord. All , shall cure the Default, reinstate the Lease, grant any relief from forfeiture, continue or extend the Term, or otherwise affect or constitute a waiver of Landlord’s right to or exercise of any remedy, including Landlord’s right to terminate the Lease and recover possession of the Premises; provided, however, the full payment of all amounts required to be cure any Monetary Default shall operate to cure said Default if paid by within the time period provided in this Lease. The foregoing constitutes actual notice to Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default the provisions of Tenant or failure to comply with the terms California Code of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”Civil Procedure §1161.1(c).

Appears in 2 contracts

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

Rent. a. Tenant Lessee shall pay Landlord as to Lessor rent for the Premises Base of Eighteen Thousand ---- Five Hundred Twenty-Eight Dollars ($18,528.00) per month in lawful money of the United States of America, subject to adjustment as provided in Section A of this Paragraph. Rent for each month during the Term. Such amounts shall be paid without deduction or offset, prior notice, or demand, at such place as may be designated from time to time by Lessor as follows: $18,528.00 shall be paid upon execution of the Lease by both Lessor and Lessee, which sum represents the amount of the first month's rent. A deposit of $18,528.00 as a Security Deposit shall be made by Lessee and held by Lessor pursuant to Paragraph 5 of this Lease, and shall be paid upon execution of the Lease by both Lessor and Lessee. If Lessee is not in default of any provision of this Lease, this sum, without interest thereon, shall be applied toward the rent due and payable on for the Commencement Date and last month of the term of this Lease or the extended term, pursuant to any extension of the initial term in accordance with the provisions of this Lease. Monthly rent shall be paid in advance on the first (1st) day of each calendar month thereafter, without as follows: Months Monthly Rent/NNN ------ ---------------- 01-12 $18,528.00 13-24 $19,300.00 25-36 $20,072.00 37-48 $20,844.00 Rent for any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased period during the Term as provided term hereof which is for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar less than one (1) full month shall be prorateda pro-rata portion of the monthly rent payment. Concurrently Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within ten (10) days following the date it is due and payable, Lessee shall pay to Lessor an additional sum of ten percent (10%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of late payment by Lessee. Acceptance of any late charge shall not constitute a waiver of Lessee's default with Tenant’s respect to the overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If, for any reason whatsoever, Lessor cannot deliver possession of the Premises on the commencement date set forth in Paragraph 2 above, this Lease shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such event, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be revised to conform to the date of Lessor's delivery of possession. In the event that Lessor shall permit Lessee to Landlord occupy the Premises prior to the commencement date of an executed copy the term, such occupancy shall be subject to all of the provisions of this Lease, Tenant shall deliver including the obligation to Landlord pay rent at the Base Rent same monthly rate as that prescribed for the first month of the TernLease term. Lessee shall have the right to enter the Premises prior to commencement date to install fixtures and equipment, provided Lessee shall not unreasonably interfere with construction of improvements by Lessor's contractors. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment)A. Cost-of-Living Increase. Not applicable. ----------------------- -------------- B. All taxes, insurance for the Projectpremiums, real estate taxes for the ProjectOutside Area Charges, late charges, costs and utilities expenses which Lessee is required to pay hereunder, together with all interest and janitorial service as described in Section 12 below. Notwithstanding the foregoing, penalties that may accrue thereon in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12)Lessee's failure to pay such amounts, Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that reasonable damages, costs, and attorney's fees and expenses which Lessor may become due incur by reason of any default of Tenant Lessee or failure on Lessee's part to comply with the terms of this Lease to be performed by TenantLease, shall be deemed to be additional rent (whichhereinafter, collectively "Additional Rent"), and, in the event of non-payment by Lessee, Lessor shall have all of the rights and remedies with Base Rent, shall be deemed “Rent”)respect thereto as Lessor has for the non-payment of monthly installment of rent.

Appears in 2 contracts

Sources: Lease (Oratec Interventions Inc), Lease (Oratec Interventions Inc)

Rent. a. 7.1 Commencing on the Term Commencement Date, Tenant shall pay to Landlord the sums set forth in Section 2.3 as rent for the Premises Base Rent for the Premises, subject to the abatement of Base Rent to the extent set forth in Section 8 below. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term. Such amounts shall be due and payable on For the Commencement Date and on avoidance of doubt, Tenant’s payment of Base Rent for the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the TernTerm shall be delivered to Landlord on the Term Commencement Date. b. As set forth in more detail below, Landlord shall be responsible, without additional charge 7.2 In addition to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant PartiesBase Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”), commencing on the entire cost thereof within twenty Term Commencement Date (20or the Expense Trigger Date (as defined below) days with respect to Operating Expenses) and at times hereinafter specified in this Lease, notwithstanding any abatement of request by Landlord. All Base Rent provided in Section 8 below, (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts required that Tenant assumes or agrees to be paid by Tenant pay under the provisions of this Lease other than Base Rentthat 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 terms 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 deemed additional rent paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing (whichwhich may, collectively with Base Rentat Tenant’s election, include payment of Rent by ACH, subject to an ACH authorization form reasonably acceptable to Landlord (which form shall stipulate that such authorization is for credit entries only to Landlord’s bank account)). In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be deemed “Rent”)prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month. 7.4 Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination 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.

Appears in 2 contracts

Sources: Lease (Cue Health Inc.), Lease (Cue Health Inc.)

Rent. a. 7.1. Tenant shall pay to Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due Premises, commencing on (a) with respect to the Original Premises, July 1, 2015 (the “Rent Commencement Date”) and payable on (b) with respect to the Expansion Space, twelve (12) months following the Term Commencement Date and on (the first (1st) day of each calendar month thereafter“Expansion Space Rent Commencement Date”), without any deduction or offset and without prior notice or demandthe sums set forth in Section 2.3, subject to the rental adjustments provided in lawful money of the United States of America, at the address indicated by Landlord from time to timeArticle 8 hereof. Base Rent shall be increased during the Term paid in equal monthly installments as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12)2.3, Tenant’s request for additional services or damage subject to the Building by Tenant or any Tenant Partiesrental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Term. 7.2. In addition to Base Rent, Tenant shall pay the entire cost thereof within twenty to Landlord as additional rent (20“Additional Rent”) days of request by Landlord. All amounts required to be paid by Tenant under at times hereinafter specified in this Lease (a) Tenant’s Share (as defined below) of Operating Expenses (as defined below), including the Property Management Fee (as defined below) and (b) any other than Base Rentamounts 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 terms 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 deemed additional rent (whichpaid to Landlord, collectively with Base Rentwithout abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be deemed “Rent”)prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month. 7.4. Except as otherwise expressly set forth herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and in all events 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. Upon the occurrence of any Default by Tenant under this Lease, the abatement of Base Rent provided herein shall automatically and forever terminate, and Tenant shall be required to pay the full Base Rent provided herein from and after the Term Commencement Date without any abatement whatsoever.

Appears in 2 contracts

Sources: Lease Agreement (Spark Therapeutics, Inc.), Lease Agreement (Spark Therapeutics, Inc.)

Rent. a. 4.1 Tenant shall hereby agrees to pay Landlord as rent for the Premises Base Rent. For purposes of Rent for each adjustment under the Lease, the number of months is measured from the first day of the calendar month during the Term. Such amounts shall be due and payable on in which the Commencement Date and falls. Each monthly installment (the “Monthly Rent”) shall be payable by check or by money order on or before the first (1st) day of each calendar month thereaftermonth. In addition to the Base Rent, without Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any deduction and all other sums of money as shall become due and payable by Tenant as hereinafter set forth, all of which shall constitute additional rent under this Lease (the “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or offset any other items of Rent that are not paid by Tenant. The Monthly Rent and without prior notice or demand, the Additional Rent are sometimes hereinafter collectively called “Rent” and shall be paid when due in lawful money of the United States of Americawithout demand, at deduction, abatement, or offset to the address indicated by Landlord from time to time. Base Rent shall be increased during addresses for the Term as provided for rental payment set forth in the Basic Lease Information. Base , or as Landlord may designate from time to time. 4.2 In the event any Monthly or Additional Rent or other amount payable by Tenant hereunder is not paid within five (5) days after its due date, Tenant shall pay to Landlord a late charge (the “Late Charge”), as Additional Rent, as so adjustedin an amount of five percent (5%) of the amount of such late payment; provided, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month however, that Tenant shall be proratedentitled to a grace period of five (5) days for the first late payment in a calendar year. Concurrently with Tenant’s delivery Failure to pay any Late Charge shall be deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and remedies available to Landlord hereunder, at law or in equity, and shall not be construed as liquidated damages or limiting Landlord’s remedies in any manner. Failure to charge or collect such Late Charge in connection with any one (1) or more such late payments shall not constitute a waiver of an executed copy of this LeaseLandlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments. 4.3 Simultaneously with the execution hereof, Tenant shall deliver to Landlord (i) the Base Rent Payable Upon Execution as payment of Monthly Rent for the first fifth (5th) full calendar month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge initial Term (subject to Tenant, ’s right to receive Abated Base Rent described in Section 4.7 below) and Tenant’s Share of Operating Expenses and Taxes for the maintenance first (1st) full calendar month of the Common Areasinitial Term; and (ii) the Letter of Credit, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 Article 53 below. Notwithstanding Any Security Deposit that may be required under this Lease shall be held by Landlord as security for the foregoingperformance 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 the event any case of Tenant’s disproportionate or after-hours use default. If Tenant fails to perform any of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms covenants of this Lease to be performed by Tenant, including without limitation the provisions relating to payment of Rent, the removal of property at the end of the Term, the repair of damage to the Premises caused by Tenant, and the cleaning of the Premises upon termination of the tenancy created hereby, then Landlord shall have the right, but no obligation, to apply the Security Deposit, or so much thereof as may be necessary, for the payment of any Rent or any other sum in default and/or to cure any other such failure by Tenant. If Landlord applies the Security Deposit or any part thereof for payment of such amounts or to cure any such other failure by Tenant, then Tenant shall immediately pay to Landlord the sum necessary to restore the Security Deposit to the full amount then required by this Section 4.3 Landlord’s obligations with respect to the Security Deposit are those of a debtor and not a trustee. Landlord shall not be required to maintain the Security Deposit separate and apart from Landlord’s general or other funds and Landlord may commingle the Security Deposit with any of Landlord’s general or other funds. Upon termination of the original Landlord’s or any successor owner’s interest in the Premises or the Building, the original Landlord or such successor owner shall be deemed additional rent (which, collectively released from further liability with Base Rent, shall be deemed “Rent”)respect to the Security Deposit upon the original Landlord’s or such successor owner’s complying with California Civil Code Section 1950.

Appears in 2 contracts

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

Rent. a. 4.1 Tenant shall hereby agrees to pay Landlord as rent for the Premises Base Rent. For purposes of Rent for each adjustment under the Lease, the number of months is measured from the first day of the calendar month during the Term. Such amounts shall be due and payable on in which the Commencement Date and falls. Each monthly installment (the “Monthly Rent”) shall be payable by check or by money order on or before the first (1st) day of each calendar month thereaftermonth. In addition to the Base Rent, without Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes, and any deduction and all other sums of money as shall become due and payable by Tenant to Landlord as set forth in this Lease, all of which shall constitute additional rent under this Lease (the “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or offset any other items of Rent that are not paid by Tenant. The Base Rent, the Monthly Rent and without prior notice or demand, the Additional Rent are sometimes hereinafter collectively called “Rent” and shall be paid when due in lawful money of the United States of Americawithout demand, at deduction, abatement, or offset (except as otherwise expressly provided in this Lease) to the address indicated by Landlord from time to time. Base Rent shall be increased during addresses for the Term as provided for rental payment set forth in the Basic Lease Information. Base Rent, or as so adjusted, shall thereafter be due as provided herein. Base Landlord may designate from time to time. 4.2 In the event any Monthly or Additional Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery or other amount payable by Tenant to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises hereunder is not paid within five (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties5) days after its due date, Tenant shall pay to Landlord a one-time late charge (the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base “Late Charge”), as Additional Rent, including in an amount of five percent (5%) of the amount of such late payment. Failure to pay any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, Late Charge shall be deemed additional rent a Monetary Default (which, collectively with Base Rent, as hereinafter defined). Provision for the Late Charge shall be deemed “Rent”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.

Appears in 2 contracts

Sources: Lease Agreement (Adicet Bio, Inc.), Lease Agreement (resTORbio, Inc.)

Rent. a. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall pay deposit the first month’s rent with Landlord upon execution hereof, to be held as rent advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Premises Base Rent for each month during Term Commencement Date. If no default occurs, the Term. Such amounts payment shall be due and payable on the Commencement Date and on applied to the first (1st) day of each calendar month thereaftermonthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or offset setoff, all sums, impositions, costs, expenses and without prior notice other payments which Tenant in any of the provisions of this Lease assume or demandagrees to pay, and, in lawful money case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the United States of America, at the address indicated rights and remedies provided by Landlord from time to time. Base Rent shall be increased during the Term as law or provided for in the Basic Lease Informationfor the nonpayment of Fixed Rent. Base RentAll Fixed Rent payments are due in advance without demand, as so adjusted, shall thereafter be due as provided hereindeduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Base Fixed Rent adjustments for any fractional calendar partial month shall be prorated. Concurrently with Tenant’s delivery to Landlord In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of an executed copy of this Leasethe due date thereof, Tenant shall deliver to Landlord the Base Rent be charged a late fee of 1.5% of such late payment for the first each late payment for each month of the Tern. b. As set forth in more detail below, Landlord or portion thereof that said payment remains outstanding. Said late fee shall be responsible, without payable in addition to and not in exclusion of additional charge remedies herein provided to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 2 contracts

Sources: Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals, Inc.), Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals Inc)

Rent. a. 4.01 From and after the Commencement Date, Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “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 for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand. All other items of Rent shall be due and payable by Tenant on or before thirty (30) days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check payable in lawful money of the United States of America, at the address indicated America currency or by other means designated by Landlord from time to time. Base If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of $500.00, provided that Tenant shall be entitled to a grace period of up to five (5) days for the first late payment of Rent in a calendar year; provided, however, Landlord shall waive the administration fee for one (1) late payment in any twelve (12) month period during the Term. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum, and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Nothing in this paragraph shall be deemed to waive or condition any claim of Default by Landlord for Tenant’s failure to timely pay Rent, which is governed by Section 18, below. Landlord’s acceptance of less than the correct amount of Rent shall be increased considered a payment on account of the oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s delivery obligation so to Landlord of an executed copy of this pay Rent under the Lease shall be absolute, unconditional, and independent and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or, except as expressly provided in the Lease, any casualty or taking, or any failure by Landlord to perform or other occurrence; and Tenant shall deliver waives all rights now or hereafter existing to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, assert any defense in the event nature of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage constructive eviction to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required action seeking to be paid by Tenant under this Lease other than Base recover Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 2 contracts

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

Rent. a. (a) Tenant shall pay to Landlord Adjusted Rental, which is the sum of the monthly Basic Rental, the monthly Excess Operating Expenses and the monthly Excess Taxes (as rent for defined in the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and Basic Lease Information), as estimated by Landlord from time to time, in monthly installments in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States to Landlord at its address set forth above (or such other address as Landlord shall designate in writing to Tenant) without notice or demand and without any abatement, deduction or set-off, for each month of Americathe entire Term, except as expressly set forth herein. One such monthly installment, shall be payable by Tenant to Landlord upon the execution of this Lease. A like monthly installment shall be due and payable without demand beginning on the first day of the calendar month immediately following the month in which the Commencement Date occurs and continuing thereafter on or before the first day of each succeeding calendar month during the Lease Term. Rent for any fractional month at the address indicated by Landlord from time to time. Base Rent beginning of the Lease Term shall be prorated based on one-three hundred sixty-fifth (1/365) of the current annual Basic Rental for each day of the partial month this Lease is in effect, and shall be due and payable on or before the first day of the calendar month immediately following the month in which the Commencement Date occurs. (b) During the Term of this Lease, the Basic Rental shall be increased during at the Term beginning of each lease year as provided for shown in the Basic Lease InformationTerms above. Base RentThe dates described in this Section for computing the adjustment in Basic Rental are hereinafter sometimes referred to collectively as “Rental Adjustment Dates” and singularly as a “Rental Adjustment Date”. After each Rental Adjustment Date, the rent as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month increased shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy deemed the Basic Rental for all purposes of this Lease. (c) If all of any sum due under this Lease is not received within five (5) days after written notice from Landlord that it is due, Tenant then Tenant, to the extent permitted by law, shall deliver pay, in addition to the sum owed, a late payment charge equal to ten percent (10%) of the sum (or portion thereof) which is overdue. If a check remitted to pay any sum due to Landlord hereunder shall not be honored upon presentment for payment, then Tenant in addition to the Base Rent for the first month amount owed, shall pay to Landlord on demand a fee of ten percent (10%) of the Tern. b. As set forth in more detail belowamount owed. Following the dishonor of any check presented for payment, Landlord shall may require all further payments to be responsiblemade hereunder to be made by certified check or money order. Also, without additional charge if Landlord does not receive any Adjusted Rental or fails to Tenantpay 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, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoingthen, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Partieseither such event, Tenant shall pay Landlord interest on such overdue amounts from the entire cost due date thereof within twenty until paid at a eighteen percent (2018%) days of request by Landlordannual rate (the “Past Due Rate”). All amounts required 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 paid by Tenant under this Lease in addition to all other than Base Rent, including rights and remedies available to Landlord hereunder or at law or in equity and shall not be construed as liquidated damages or limiting Landlord’s remedies in any manner and shall not excuse or cure the default in payment. (d) Tenant’s covenants and obligations to pay Adjusted Rental and all other sums that may become due by reason of any default of Tenant or failure to comply with additional rental (collectively, the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)) hereunder are unconditional and independent of any other covenant or condition imposed on either Landlord or Tenant, whether under this Lease, at law or in equity.

Appears in 2 contracts

Sources: Office Building Lease Agreement (Vivint Solar, Inc.), Office Building Lease Agreement (Vivint Solar, Inc.)

Rent. a. 4.01 Tenant shall pay Landlord Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent (as rent hereinafter defined) due for the Premises Term (collectively referred to as “Rent”). Base Rent for each 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 during of the Term. Such amounts , 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 on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand. Unless otherwise specified herein to the contrary, in lawful money all other items of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased 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 as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s delivery covenant to Landlord pay Rent is independent of an executed copy of every other covenant in this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 2 contracts

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

Rent. a. Tenant shall pay or cause Manager to pay to Landlord, by wire transfer of immediately available federal funds or by other means acceptable to Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demandin its sole discretion, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent America which shall be increased legal tender for the payment of public and private debts, without offset, abatement, demand or deduction (unless otherwise expressly provided in this Agreement), Rent during the Term as provided follows: (a) For the first Fiscal Year of the Term (i.e., the period from the Commencement Date through December 31, 2001), Tenant shall pay as and for Rent, percentage rent ("Percentage Rent") calculated for each calendar quarter, equal to _________ of Gross Revenues through the end of such calendar quarter, which amount shall be payable quarterly in arrears, on or before the Basic twentieth (20th) day of the subsequent calendar quarter. (b) For the second Fiscal Year of the Term (i.e., 2002), Tenant shall pay as and for Rent, Percentage Rent calculated for each calendar quarter, equal to _________ of Gross Revenues through the end of such calendar quarter, which amount shall be payable quarterly in arrears, on or before the twentieth (20th) day of the subsequent calendar quarter. (c) Commencing with the Third Fiscal Year, the Rent payable in each calendar quarter shall equal the greater of: (i) the amount of Minimum Rent set forth on Exhibit A ("Minimum Rent") which shall be payable quarterly in arrears on or before the twentieth (20th) business day of the subsequent calendar quarter; provided, however, that Minimum Rent shall be prorated as to any Lease InformationYear which is less than four quarters and as to any partial calendar quarters, or months and as to any partial calendar months; or (ii) an amount of Percentage Rent, calculated for each calendar quarter, equal to the aggregate of the Period Revenues Computation, through the end of such calendar quarter, which amount shall be payable quarterly in arrears, on or before the twentieth (20th ) day of the subsequent calendar quarter. Base The Period Revenues Computation shall be an amount equal to the sum of, for the applicable Lease Year, (1) an amount equal to the First Tier Gross Revenue Percentage of all Lease Year to date Gross Revenues up to (but not exceeding) the First Tier Gross Revenues Break Point, (2) an amount equal to the Second Tier Gross Revenue Percentage of all Lease Year to date Gross Revenues in excess of the First Tier Gross Revenues Break Point not exceeding the Second Tier Gross Revenues Break Point, (3) an amount equal to the Third Tier Gross Revenue Percentage of all Lease Year to date Gross Revenues in excess of the Second Tier Gross Revenues Break Point, (4) an amount equal to the Fourth Tier Gross Revenue Percentage of all Lease Year to date Gross Revenues in excess of the Third Tier Gross Revenues Break Point, minus, in each case, the aggregate of Period Revenues Computations for each previous calendar quarter in such Lease Year (if any). Landlord and Tenant expressly acknowledge and agree that (1) the threshold and percentages for establishing Percentage Rent, including those with respect to Period Revenues Computation, are set out on Exhibit "D" to this Agreement (2) the determination of Percentage Rent shall be made with respect to the Fixed Term and separately with respect to the Extended Terms. The amount of Minimum Rent payable for the each calendar quarter of a Lease Year shall equal the annual amount of Minimum Rent multiplied by a fraction, the numerator of which is the amount of the Tenant's budgeted Gross Revenues for such calendar quarter and the denominator of which is the amount of the Tenant's budgeted Gross Revenues for such Lease Year. There shall be no reduction in Minimum Rent regardless of the result of the Period Revenues Computation. Provided, however, Rent shall be "trued up" for each quarter during the Term, such that Rent payable hereunder shall in each Lease Year equal the greater of Minimum Rent or Percentage Rent, as so adjustedthe same is aggregated from quarter to quarter within each such Lease Year. If the Term begins or ends in the middle of a calendar year, then the number of calendar quarters falling within the Term during such calendar year shall thereafter be due as provided hereinconstitute a separate Lease Year. Base Rent adjustments for any fractional calendar month In that event, the First Tier Gross Revenues Break Point and the Second Tier Gross Revenues Break Point shall be prorated. Concurrently with Tenant’s delivery multiplied by a fraction equal to Landlord (x) the number of an executed copy of this Lease, calendar quarters (including partial calendar quarters) in the Lease Year divided by (y) four. (d) Tenant shall deliver to Landlord a Certificate from an Officer of Tenant or Manager (an "Officer's Certificate") with each Percentage Rent payment setting forth the Base calculation of the Percentage Rent payment for the first month most recently completed calendar quarter of each Lease Year in the Tern. b. As set forth in more detail below, Landlord Term and Percentage Rent year to date through such recently completed calendar quarter. Percentage Rent shall be responsiblesubject to confirmation and adjustment, without additional charge to Tenantif applicable, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12)3.2. The obligation to pay Percentage Rent shall survive the expiration or earlier termination of the Term, Tenant’s request for additional services and a final reconciliation, taking into account, among other relevant adjustments, any adjustments which are accrued after such expiration or damage termination date but which related to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required Percentage Rent accrued prior to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenantsuch termination date, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)made not later than 60 days after such expiration or termination date.

Appears in 1 contract

Sources: Lease Agreement (CNL Hospitality Properties Inc)

Rent. a. 3.1 Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts , except that the first full month's rent shall be due and payable on paid upon the Commencement Date and on execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the first (1st) day 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 each calendar month thereafterthe Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by 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 timetime designate in writing. Base Rent If an Event of Default occurs with respect to the payment of rent, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be increased during 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 Term as provided for in the Basic Lease Informationextent of which additional expense is extremely difficult and economically impractical to ascertain. Base Rent, as so adjusted, shall thereafter be Tenant therefore agrees that if rent or any other sum is not paid when due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery and payable pursuant to Landlord of an executed copy of this Lease, Tenant a late charge shall deliver be imposed in an amount equal to Landlord the Base Rent for the first month greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance unpaid rent or other payment. The amount of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required late charge to be paid by Tenant under shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Lease Section 3.2 in no way relieve Tenant of the obligation to pay rent or other than Base Rentpayments on or before the date on which they are due, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease to be performed by Tenant, shall be deemed additional in the event said rent (which, collectively with Base Rent, shall be deemed “Rent”)or other payment is unpaid after date due.

Appears in 1 contract

Sources: Lease (Rockford Corp)

Rent. a. 3.1 Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts , except that the first month's rent shall be due and payable on paid upon the Commencement Date and on execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth of the first 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 a thirty (1st30) day of each calendar month thereaftermonth. Said rent shall be paid to Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord's address, as set forth on the Reference Page, or to such other person or at such other place as Landlord may from time to timetime designate in writing. 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. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be Tenant therefore agrees that if rent or any other sum is not paid when due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery and payable pursuant to Landlord of an executed copy of this Lease, Tenant a late charge shall deliver be imposed in an amount equal to Landlord the Base Rent for the first greater of.- (a) Fifty Dollars ($50.00), or (b) a sum equal to three percent (3%) per month of the Tern. b. As set forth unpaid rent or other payment. In addition, any rent or any other sum that is not paid to Landlord when due shall bear interest from the date due until paid at the lesser of twelve percent (12%)per annum or diem maximum rate permitted by law. The provisions of this Section 3.2 in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance no way relieve Tenant of the Common Areasobligation to pay rent or other payments on or before the date on which they are due, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with nor do the terms of this Lease Section 3.2 in any way affect Landlord's remedies pursuant to be performed by Tenant, shall be deemed additional Article 19 in the event said rent (which, collectively with Base Rent, shall be deemed “Rent”)or other payment is unpaid after date due.

Appears in 1 contract

Sources: Lease Agreement (HMT Technology Corp)

Rent. a. Tenant shall agrees and covenants to pay Landlord as an annual fixed rent for in the Premises amount of $480,000.00 per year (“Base Rent for each month during the Term. Such amounts shall be due and payable Rent”), commencing on the Commencement Date and Date. Base Rent shall be payable in advance, without demand, on the first (1st) day of each calendar month thereafterin equal monthly installments of $40,000.00 and shall not be increased, without any deduction abated or offset diminished except as set forth herein. Beginning on January 1, 2026 and without prior notice or demandeach January 1 of each year thereafter during the Term, in lawful money the amount of Base Rent which shall be paid during each calendar year shall be increased above the United States preceding year’s Base Rent by 1.5%. If the Commencement Date is not the first day of Americaa calendar month, at the address indicated by Landlord from time to time. first month’s Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rentprorated, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month and shall be proratedpayable on the Commencement Date. Concurrently with Tenant’s delivery to Landlord of an executed copy of this LeaseIn addition, Tenant shall deliver to Landlord the Base Rent for the first full month of the TernTerm shall be payable on the Commencement Date. Tenant shall also pay to Landlord such “Additional Rent” as described in Article 12 hereof. The Base Rent and the Additional Rent are hereinafter collectively referred to as the “Rent. b. As set forth ” In the event that Tenant fails to make any payment of Rent within five (5) days after the same becomes due, then in more detail belowaddition to all rights, powers and remedies provided herein, by law or otherwise in the case of nonpayment of Rent, Landlord shall be responsibleentitled to recover from Tenant and ▇▇▇▇▇▇ agrees to pay to Landlord, on demand, a late payment charge equal to $250.00. This is a net lease and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction or defense and, except as otherwise expressly provided herein, without additional charge to Tenant, for abatement or suspension. It is the maintenance intention of the Common Areasparties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, exterior areas of that the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant Rent shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required continue to be paid by payable in all events and that the obligations of Tenant hereunder shall continue unaffected, except as otherwise expressly provided herein. It is the purpose and intent of Landlord and Tenant that the Rent payable under this Lease other than be absolutely net to Landlord, such that this Lease shall yield (on an absolute net basis) the Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms Rent specified in this Lease for each year of this Lease to be performed by Tenant(prorated, shall be deemed additional rent (whichas applicable, collectively with Base Rent, shall be deemed “Rent”for any partial year).

Appears in 1 contract

Sources: Lease Agreement (ETHEMA HEALTH Corp)

Rent. a. Tenant Subtenant shall pay Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demandto Sublandlord, in lawful money of the United States of AmericaAmerica which shall be legal tender for the payment of public and private debts, at without offset, abatement, demand or deduction, fixed annual rent in the address indicated by Landlord from time to timeamount of Two Million Eight Hundred Thirty-Five Thousand and 00/100s Dollars ($2,835,000.00) (“Sublease Rent”), in equal monthly installments in advance on the first Business Day of each calendar month during the Sublease Term. Base Commencing on the first (1st) anniversary of the date of this Sublease, and on each successive anniversary of such date thereafter, the Sublease Rent shall be increased during to an annual amount equal to the Term as provided for in greater of (a) the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent then-fair market rent for the first month Subleased Premises as reasonably agreed upon by Sublandlord and Subtenant and (b) one hundred three percent (103%) of the Tern. b. As set forth Sublease Rent in more detail below, Landlord shall be responsible, without additional charge effect immediately prior to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 belowapplicable anniversary. Notwithstanding the foregoing, Sublandlord acknowledges that its right to receive Sublease Rent during any month is subject and subordinate to the availability of sufficient revenues and receipts collected by Subtenant or Manager in respect of the Subleased Premises from whatever source and of whatever character during such period (the “Subleased Premises Revenues”) for such month to permit the payment of Sublease Rent. If there are insufficient Subleased Premises Revenues to pay Sublease Rent, Sublandlord will advance (without interest) the amount of the shortfall, and all such advanced amounts shall be due and payable and shall be repaid in the event next succeeding month(s) in which there is excess Subleased Premises Revenue after the payment of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth Sublease Rent for such month until all such advanced amounts are paid in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or full. Upon any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms termination of this Lease to be performed by TenantSublease for any reason, Subtenant shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)released from any obligation to pay such advanced amounts.

Appears in 1 contract

Sources: Sublease Agreement (Senior Housing Properties Trust)

Rent. a. 4.1. Master Tenant shall covenants to pay Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demandto Landlord, in lawful money of the United States of America, at without notice or demand and without any set-off, deduction or abatement whatsoever (except as otherwise set forth herein), the address indicated by Landlord from time to timeRent as follows: 4.1.1. Master Tenant shall pay the annual amount as set forth and identified as “Base Rent shall be increased Rent” on Exhibit A hereto (“Base Rent”), payable in arrears on the last day of each calendar month during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this LeaseAgreement, Tenant shall deliver to Landlord or, if earlier, no later than such other day as may be required by the Base Rent for the first month holder of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 belowa Permitted Mortgage under its applicable Loan Documents. Notwithstanding the foregoing, as an administrative convenience to Landlord, Landlord hereby irrevocably directs Master Tenant to pay such Base Rent directly to the holder of any Permitted Mortgage, or otherwise in accordance with any Permitted Mortgage, on or before the due date thereunder. Landlord will, for purposes of this Section, keep Master Tenant informed of any changes to such obligations; and 4.2. [Intentionally omitted]. 4.3. Any Rent not paid when due shall bear interest from the due date at the Default Rate until paid in full. 4.4. [Intentionally omitted]. 4.5. In the event that the Projected Uncontrollable Costs for any calendar year (or stub period thereof, in the event that a lease year begins after January 1 of Tenant’s disproportionate a calendar year or after-hours use ends before December 31 of utilities (beyond a calendar year) exceed the hours actual Uncontrollable Costs for such calendar year or levels set forth in Section 12)stub period thereof, Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Master Tenant shall pay to Landlord, as additional Rent hereunder, the entire cost thereof amount of such excess, within twenty ninety (2090) days following the end of request the applicable calendar year (or stub period thereof). If, however, the actual Uncontrollable Costs for any calendar year (or stub period thereof) exceed the Projected Uncontrollable Costs for such calendar year (or stub period thereof) (such amount the “Excess Uncontrollable Costs”), then Master Tenant shall be responsible for payment of such Excess Uncontrollable Costs, but shall be entitled to reimbursement of such Excess Uncontrollable Costs by offsetting such amount against Rent payable to the Trust pursuant to Section 4.1.2 beginning with the first lease month that begins on or after ninety (90) days following the end of such calendar year (or stub period thereof), and against such amounts payable to Landlord in later months, if and as needed, until the full amount of the Excess Uncontrollable Costs incurred for such calendar year (or stub period thereof) have been reimbursed to the Master Tenant. Notwithstanding the foregoing, so long as a Permitted Mortgage is outstanding, Master Tenant shall not ▇▇▇▇▇ any Base Rent or Impositions. 4.6. To the extent that monthly escrows are required by a holder of a Permitted Mortgage, Master Tenant shall deposit monthly with Landlord (or Landlord. All amounts required to be paid by Tenant under this Lease other than ’s designee), simultaneously with its payment of Base Rent, including any one-twelfth (1/12) of the Impositions and all other sums that premiums for insurance required under Section 8 hereof, which amounts may become due by reason of any default of Tenant or failure be adjusted from time to comply with time depending on such Impositions and insurance premiums from time to time, in amounts sufficient to pay the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)same when due.

Appears in 1 contract

Sources: Master Lease Agreement (Jones Lang LaSalle Income Property Trust, Inc.)

Rent. a. 4.1 Tenant shall pay Landlord as rent Landlord, without any demand, offset, deduction, condition or delay unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Tenn (collectively referred to as “Rent). “Additional Rent” means all sums or charges (exclusive of Base Rent) that Tenant is required to pay Landlord or that are chargeable to or payable by Tenant under this Lease at any time. 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 for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, during the Term after the Commencement Date without any deduction or offset and without prior notice Notice or demand, in lawful money provided that the Initial Payment shall be payable upon the execution of the United States this Lease by ▇▇▇▇▇▇. All other items of America, at the address indicated by Landlord from time to time. Base Rent shall be increased due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates to Tenant and shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord’s costs and an administration fee equal to the greater of $250 or 2% of such delinquent Rent payment (or such lesser amount as required by Law), provided that Tenant shall be entitled to a grace period of up to 5 days. In addition, past due Rent shall accrue interest at the rate of 10% per annum, and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. ▇▇▇▇▇▇▇▇’s acceptance of ▇▇▇▇ than the correct amount of Rent shall be considered a payment on account of the oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s delivery covenant to Landlord pay Rent is independent of an executed copy of every other covenant in this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 1 contract

Sources: Medical Office Building Lease (HealthLynked Corp)

Rent. a. 3.1 Tenant shall agrees to pay to Landlord as rent for in advance on or before the Premises first day of each month the Base Rent (as set forth in Section 1.8 above), subject to adjustment as hereinbefore provided, without deduction or set off, for each month during of the entire Lease Term, at the Landlord's address as set forth herein. Such amounts Pro-rated for the current month shall be due and payable by Tenant to Landlord upon execution of this Lease, and a full monthly installment shall be due and payable without demand on the Commencement Date and on or before the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of succeeding the United States of America, at Commencement Date during the address indicated by Landlord from time to timeLease Term. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar period of less than a full month shall be prorated. Concurrently , based on one thirtieth (1/30) of the current Base Rent for each day of the partial month this Lease is in effect. 3.2 In addition to and along with Tenant’s delivery the monthly installments of Base Rent pursuant to Subsection 3.1 hereof, Tenant shall pay to Landlord an amount equal to the sum of an executed copy all taxes on Rent directly or indirectly imposed by any government entity (the "Rent Tax") as Additional Rent. 3.3 If any installment of the Base Rent, or any other sums owed by Tenant to Landlord under this Lease, is not received within five (5) days after the due date thereof, more than once during each Lease Year, without implying Landlord's consent to such late payment, or if Landlord pays a sum on behalf of or for Tenant shall deliver (which Landlord may do in Landlord's sole and absolute discretion), and Landlord is not repaid such sum within ten (10) days after demand therefor is made, Tenant, to Landlord the extent permitted by law, agrees to pay, in addition to said installment of the Base Rent or such other sum owed, a late payment charge equal to five (5%) percent of the Base Rent or such other sums owed; provided, however, that with regard to nonrecurring items only, Landlord has delivered to Tenant the bill therefore on or before ▇▇▇ 25th of the immediately preceding month (for payments due on the first month of the Tern. b. As month) or given Tenant written notice of such charge as otherwise set forth in more detail below, Landlord this Lease. Said late payment charge shall constitute liquidated damages and shall be responsible, without for the purpose of reimbursing Landlord for additional charge costs and expenses which Landlord expects to incur in connection with the handling and processing of late installment payments of the Base Rent and such other sums owed by Tenant to Landlord hereunder. If there is a late payment by Tenant, for the maintenance damages resulting to Landlord will be difficult to ascertain precisely, and the foregoing charge constitutes a reasonable and good faith estimate by the parties of the Common Areas, exterior areas extent of the Project such damages and base Building mechanical, plumbing and electrical systems serving the Premises (but does not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 belowconstitute interest. Notwithstanding the foregoing, such late charges shall not apply to any sums that may have been advanced by Landlord to or for the benefit of Tenant pursuant to this Lease. If any check delivered to Landlord by Tenant in payment of Base Rent or Additional Rent is not honored by the event financial institution upon which such check was drawn and is returned to Landlord for any reason whatsoever, Landlord may impose, as Additional Rent, a returned check service charge of $15.00 or the actual charges imposed on Landlord as the result of such returned check, whichever is greater, each time a check is not honored and returned to Landlord. Such returned check service charge shall be in addition to and not in lieu of any late payment charge. If any two (2) checks delivered to Landlord by Tenant during the Lease Term in payment of Base Rent or Additional Rent are not honored by the financial institution upon which such checks were drawn are returned to Landlord for any reason whatsoever, Landlord may require, upon written notice to Tenant’s disproportionate , that any and all subsequent payments of Base Rent or after-hours use Additional Rent be made by either cash, money order or cashier's check for the balance of utilities the Lease Term. 3.4 All sums other than Base Rent payable by Tenant to Landlord under this Lease shall constitute "Additional Rent". Base Rent and Additional Rent are herein referred to collectively as "Rent". All Rent due hereunder not paid by Tenant within ten (beyond 10) days after the hours due date thereof, shall bear interest from the eleventh (11th) day of the month until paid in full at a rate equal to the lesser of: (a) the prime interest rate in effect from day to day at Bank of America/Nations Bank of Florida, plus three (3) percentage points; or levels (b) the maximum legal rate allowed by law (the "Default Rate"); provided, however, that with regard to nonrecurring items only, Landlord has delivered to Tenant the bill therefore on or before the 25th of the immediately preceding month (for payments due on the first of the month) or given Tenant written notice of such charge as otherwise set forth in Section 12)this Lease. If more than the maximum legal rate of interest should ever be collected with regard to any sum due hereunder, said excess amount shall be credited against future payments of Rent accruing thereafter. If no such further Rent accrues hereunder, said excess sums shall be promptly refunded by Landlord to Tenant upon demand by Tenant’s request for additional services or damage to the Building . 3.5 No payment by Tenant or any Tenant Parties, Tenant shall pay receipt by Landlord of a lesser amount than the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, correct Rent shall be deemed additional rent (whichto be other than a payment on account, collectively with Base Rent, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed “Rent”)an accord and satisfaction. Landlord may accept such check of payment without prejudice to Landlord's right to recover the balance or to pursue any other remedy.

Appears in 1 contract

Sources: Lease Agreement (Universal Beverages Holdings Corp)

Rent. a. 3.1 Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts , except that the first full month’s rent shall be due and payable on paid upon the Commencement Date and on execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the first (1st) day 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 each calendar month thereafterthe Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by 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 timetime designate in writing. Base Rent 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 next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be increased during deemed additional rent. 3.1.1 Notwithstanding anything in this Lease to the Term contrary, so long as provided for Tenant is not in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of default under this Lease, Tenant shall deliver be entitled to Landlord an abatement of Monthly Installment of Rent with respect to the Base Rent Premises, as originally described in this Lease, in the amount of (a) $69,890.40 per month for the first period commencing on July 1, 2004 and continuing through December 31, 2004, and (b) $27,890.40 per month for the period commencing on January 1, 2005 and continuing through June 30, 2005 (collectively, the “Abated Monthly Installment of Rent”). The maximum total amount of Abated Monthly Installment of Rent abated with respect to the Tern. b. As Premises in accordance with the foregoing shall equal $586,684.80. Only Monthly Installment of Rent shall be abated pursuant to this Section, as more particularly described herein, and all other rent and other costs and charges specified in this Lease, including without limitation, Tenant’s Proportionate Share of Expenses and Taxes, shall remain as due and payable pursuant to the provisions of this Lease. In the event of a delay in the Scheduled Commencement Date as set forth in more detail belowthe second sentence of Section 2.1 above, Landlord shall be responsible, without additional charge to Tenant, for the maintenance each of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels rent abatement periods set forth in Section 12)clauses (a) and (b) above shall be delayed by an equal period of time. 3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, Tenant’s request for the extent of which additional services or damage expense is extremely difficult and economically impractical to the Building by ascertain. Tenant therefore agrees that if rent or any Tenant Parties, Tenant shall pay the entire cost thereof other sum is not paid within twenty three (203) days of request by Landlordthe date due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) three percent (3%) of the unpaid rent or other payment. All amounts required The amount of the late charge to be paid by Tenant under shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Lease Section 3.2 in no way relieve Tenant of the obligation to pay rent or other than Base Rentpayments on or before the date on which they are due, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease to be performed by Tenant, shall be deemed additional in the event said rent (which, collectively with Base Rent, shall be deemed “Rent”)or other payment is unpaid after date due.

Appears in 1 contract

Sources: Lease Agreement (Verisity LTD)

Rent. a. 3.1 Commencing on the Rent Commencement Date (as hereinafter defined), Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts The Monthly Installment of Rent in effect at any time shall be due and payable on one-twelfth of the Commencement Date and on Annual Rent in effect at such time. Rent for any period during the first Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon a thirty (1st30) day of each calendar month thereaftermonth. Said rent shall be paid to Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord’s address, as set forth on the Reference Page, or to such other person or at such other place as Landlord may from time to timetime designate in writing. Base Rent shall be increased during Notwithstanding the Term as provided for in the Basic Lease Information. Base Rentabove and subject to Section 2.1 above, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery rent commencement date shall begin April 1, 2004 (“Rent Commencement Date”) but Tenant shall not be responsible for payment of any rent or rent adjustments or proportionate share charges (i.e. gross free rent) (except as set forth below) prior to Landlord that date. Notwithstanding the foregoing sentence, effective as of an executed copy December 1, 2003, Tenant shall pay all common area maintenance charges, direct expenses and taxes applicable to the Premises. Upon execution of this Lease, Tenant shall deliver secure its payment obligations hereunder with a Letter of Credit equal to Landlord $50,000 subject to the Base Rent for the first month of the Tern. b. As terms and provisions set forth in more detail belowParagraph 5 hereof. Commencing on the first anniversary of the Rent Commencement Date and on each anniversary thereafter, Landlord including during any Renewal Term, the Annual Rent shall increase by $.75 per rentable square foot over the preceding year’s Rent. 3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid by the fifth (5th) business day of each month, a late charge shall be responsible, without additional charge imposed in an amount equal to Tenant, for the maintenance a sum equal to three percent (3%) of the Common Areas, exterior areas unpaid rent or other payment. The amount of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required late charge to be paid by Tenant under shall be reassessed and added to Tenant’s obligation for each successive monthly period until paid. The provisions of this Lease Section 3.2 in no way relieve Tenant of the obligation to pay rent or other than Base Rentpayments on or before the date on which they are due, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease to be performed by Tenant, shall be deemed additional in the event said rent (which, collectively with Base Rent, shall be deemed “Rent”)or other payment is unpaid after date due.

Appears in 1 contract

Sources: Lease (Neutral Tandem Inc)

Rent. a. 4.01 Tenant shall pay Landlord Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent (as rent hereinafter defined) due for the Premises Term (collectively referred to as “Rent”). Base Rent for each shall commence on the Commencement Date, subject to the Base Rent Abatement Period. Anything herein to the contrary notwithstanding, an amount equal to the first full monthly installment of Base Rent, which shall be applied toward the sixth (6th) month during of the Term. Such amounts , 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 on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand. Unless otherwise specified herein to the contrary, in lawful money all other items of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased due and payable by Tenant on or before fifteen (15) 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 as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s delivery covenant to Landlord pay Rent is independent of an executed copy of every other covenant in this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 1 contract

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

Rent. a. 4.01 Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “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. Notwithstanding anything herein to the contrary, the taxes described in the immediately preceding sentence shall not be included in the “Taxes” defined in Exhibit B attached hereto. Base Rent for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money provided that the installment of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first full calendar month of the Tern. b. As set forth in more detail belowTerm, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be responsible, without additional charge made by good and sufficient check or by other means acceptable to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but Landlord. If Tenant does not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or pay any Tenant PartiesRent when due hereunder, Tenant shall pay Landlord an administration fee in the entire cost thereof within twenty (20) amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 2 late payments of request by LandlordRent in a calendar year. All amounts required to be paid by In addition, past due Rent shall accrue interest at 10% per annum, and Tenant under this Lease other than Base Rent, including shall pay Landlord a reasonable fee for any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed checks returned by Tenant, ’s bank for any reason. Landlord’s acceptance of less than the correct amount of Rent shall be deemed additional rent (whichconsidered a payment on account of the oldest obligation due from Tenant hereunder, collectively with Base Rentthen to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term shall be deemed “Rent”)prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.

Appears in 1 contract

Sources: Office Lease Agreement (Mobile Storage Group Inc)

Rent. a. 3.1 Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts , except that the first full month’s rent shall be due and payable on paid upon the Commencement Date and on execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the first (1st) day 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 each calendar month thereafterthe Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by 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 timetime designate in writing. Base Rent 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 next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be increased during deemed additional rent. 3.1.1 Notwithstanding anything in this Lease to the Term contrary, so long as provided for Tenant is not in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of default under this Lease, Tenant shall deliver be entitled to Landlord an abatement of Monthly Installment of Rent with respect to the Base Rent Premises, as originally described in this Lease, in the amount of (a) $ per month for the first period commencing on July 1, 2004 and continuing through December 31, 2004, and (b) $ per month for the period commencing on January 1, 2005 and continuing through June 30, 2005 (collectively, the “Abated Monthly Installment of Rent”). The maximum total amount of Abated Monthly Installment of Rent abated with respect to the Tern. b. As Premises in accordance with the foregoing shall equal $ . Only Monthly Installment of Rent shall be abated pursuant to this Section, as more particularly described herein, and all other rent and other costs and charges specified in this Lease, including without limitation. Tenant’s Proportionate Share of Expenses and Taxes, shall remain as due and payable pursuant to the provisions of this Lease. In the event of a delay in the Scheduled Commencement Date as set forth in more detail belowthe second sentence of Section 2.1 above, Landlord shall be responsible, without additional charge to Tenant, for the maintenance each of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels rent abatement periods set forth in Section 12)clauses (a) and (b) above shall be delayed by an equal period of time. 3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, Tenant’s request for the extent of which additional services or damage expense is extremely difficult and economically impractical to the Building by ascertain. Tenant therefore agrees that if rent or any Tenant Parties, Tenant shall pay the entire cost thereof other sum is not paid within twenty three (203) days of request by Landlordthe date due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) three percent (3%) of the unpaid rent or other payment. All amounts required The amount of the late charge to be paid by Tenant under shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Lease Section 3.2 in no way relieve Tenant of the obligation to pay rent or other than Base Rentpayments on or before the date on which they are due, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease to be performed by Tenant, shall be deemed additional in the event said rent (which, collectively with Base Rent, shall be deemed “Rent”)or other payment is unpaid after date due.

Appears in 1 contract

Sources: Sublease (Conceptus Inc)

Rent. a. (a) Tenant shall pay Landlord to Landlord, as rent for the Leased Premises Base Rent for each month during the Term. Such amounts shall be due and payable , the Basic Rent in advance, on the Rent Commencement Date and on each Basic Rent Payment Date occurring after the first (1st) day of each calendar month thereafterRent Commencement Date, without any deduction and shall pay the same by ACH or offset and without prior notice or demandwire transfer in immediately available federal funds, by 1:00 p.m., Charlotte, North Carolina time on the date due, to such account in lawful money of the United States of America, at the address indicated by such bank as Landlord shall designate from time to time. Base Rent . (b) Tenant shall be increased during pay the Term Purchase Price, Default Purchase Price, Condemnation Termination Payment or Casualty Termination Payment, as provided for in the Basic Lease Information. Base applicable, and pay and discharge, as Additional Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery all other amounts and obligations which Tenant assumes or agrees to Landlord of an executed copy of pay or discharge pursuant to this Lease, Tenant shall deliver together with every fine, penalty, interest and cost which may be added by the party to Landlord the Base whom such payment is due for nonpayment or late payment thereof. All payments of Additional Rent for the first month of the Tern. b. As set forth in more detail below, that are payable to Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building paid by Tenant by ACH or wire transfer in immediately available federal funds to such account in such bank as Landlord shall designate from time to time. (c) If any Tenant Partiesinstallment of Basic Rent or Additional Rent is not paid when the same is due, Tenant shall pay to Landlord, on demand, as Additional Rent, interest on such installment from the entire cost thereof date such installment was due to the date such installment is paid at the Default Rate. In addition to the interest payable pursuant to the foregoing sentence, any payment not received within twenty ten (2010) days after the applicable due date shall incur a late charge in the amount of request one percent (1%) of such late payment amount (except to the extent such late charge is prohibited by LandlordLegal Requirements). All amounts required to be paid by Tenant under and Landlord agree that this Lease other than Base Rent, including any late charge represents a reasonable sum (considering all of the circumstances existing on the date of the execution of this Lease) and all other sums a fair and reasonable estimate of the costs that may become due Landlord will incur by reason of any default of Tenant or Tenant’s failure to comply pay such amounts on time. Tenant and Landlord further agree that proof of actual damages would be costly and inconvenient. Acceptance of any late charge shall not constitute a waiver of the default with respect to the overdue Basic Rent or Additional Rent payment and shall not prevent Landlord from exercising any of the other rights available hereunder if such default remains uncured by Tenant. (d) Landlord and Tenant agree that this Lease is a true lease and does not represent a financing arrangement. Each party shall reflect the transactions represented by this Lease in all applicable books, records and reports (including, without limitation, income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment. (e) Each of Landlord and Tenant acknowledges the terms of Section 4.2 and Section 4.3 of the Agency Agreement and agrees to execute and deliver an amendment to this Lease in accordance with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).Section 4.2(f) and Section 4.3(b) thereof. DMEAST #39566949 v10 4

Appears in 1 contract

Sources: Lease Agreement (Progress Energy Inc)

Rent. a. Tenant The rents shall pay Landlord as rent for the Premises be and consist of a Base Rent for (herein called ---- "Base Rent") and Additional Rent (herein called "Additional Rent"). For purposes of this Lease Agreement, Base Rent and Additional Rent are referred to collectively as "Rent." Base Rent shall be the amount indicated in the Basic Lease Information. Base Rent shall be payable in equal monthly installments in advance on the first day of each and every calendar month during the Termterm of this Lease (except to the extent otherwise specifically provided elsewhere in this Lease and except that Tenant shall pay, upon the execution and delivery of this Lease by Tenant, the sum indicated in the Basic Lease Information, to be applied against the first installment or installments of Base Rent becoming due under this Lease). Such amounts Additional Rent shall be consist of all other sums of money as shall become due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, by Tenant to Landlord hereunder. All rent shall be paid in lawful money of the United States of AmericaAmerica to Landlord at its office or such other place, at as Landlord shall designate by notice to Tenant. Tenant shall pay the address indicated by Landlord from time to time. Base Rent shall be increased during and Additional Rent promptly when due without notice or demand therefor and without any abatement, deduction or setoff for any reason whatsoever, except as expressly provided in this Lease. If the Term as provided for in Commencement Date occurs on a day other than the Basic Lease Information. Base Rentfirst day of a calendar month, as so adjusted, shall thereafter be due as provided herein. the Base Rent adjustments for any fractional that partial calendar month shall be proratedprorated on a daily basis. Concurrently with Tenant’s delivery to Landlord If the Basic Lease Information provides for the abatement of an executed copy Base Rent for specified periods of this Leasetime during the term of the Lease ("Free Rent Period(s)"), Tenant shall deliver to Landlord none of the Base Rent for specified in this Lease as payable during the first month Lease Term shall be allocable to any such Free Rent Period(s). In the event of the Tern. b. As set forth in more detail belowany default by Tenant, Landlord shall be responsible, without additional charge have the right to Tenant, collect Rent for the maintenance of Premises from Tenant for all Free Rent Period(s) at the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described same Base Rent in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or effect immediately after any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”such Free Rent Period(s).

Appears in 1 contract

Sources: Lease Agreement (Preview Systems Inc)

Rent. a. Section 4.01. Tenant shall pay Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafterto Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord's Address for Payment, or at such other place as Landlord shall designate in writing from time to time: (a) the Base Rent, in equal monthly installments, in advance, on the first day of each calendar month during the Term, and (b) the Additional Rent ("Additional Rent") consisting of all other sums of money due and payable by Tenant pursuant to this Lease, including those sums of money due and payable by Tenant under Section 4.02 hereof and Article 5 hereof, at the respective times required hereunder. The first monthly installment of Base Rent and the Additional Rent payable under Article 5 hereof shall be paid in advance on the date of Tenant's execution of this Lease and applied to the first installment of Base Rent and such Additional Rent coming due under this Lease. Payment of the Rent shall begin on the Commencement Date; provided, however, that, if either the Commencement Date or the Expiration Date falls on a date other than the first day of a calendar month, the Rent due for such fractional month shall be prorated on a per diem basis between Landlord and Tenant so as to charge Tenant only for the portion of such fractional month falling within the Term. Section 4.02. During the Term, the Base Rent shall be increased during annually, effective as of the Term first day of the month following the month in which the anniversary of the Commencement Date occurs (such date being herein referred to as provided for in the Basic Lease Information. Base Rent"Adjustment Date"), as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver amount equal to Landlord the product obtained by multiplying the Base Rent in effect for the first twelve (12) months immediately preceding the applicable Adjustment Date by one hundred three percent (103%). Payment of Base Rent as adjusted hereunder shall begin on the applicable Adjustment Date for the twelve (12) month period to which such adjusted Base Rent applies. Section 4.03. All past due installments of Rent that continue unpaid more than five (5) days after due date thereof shall bear interest until paid at a rate per annum (the "Interest Rate") equal to the greater of fifteen percent (15%) or five percent (5%) above the prime rate of interest from time to time publicly announced by The Rigg▇ ▇▇▇ional Bank of Washington, D.C., a national banking association, or any successor thereof (the "Prime Rate"); provided, however, that, if at the time such interest is sought to be imposed the rate of interest exceeds the maximum rate permitted under federal law or under the laws of the Tern. b. As set forth in more detail belowState of Maryland, Landlord the rate of interest on such past due installments of Rent shall be responsible, without additional charge to Tenant, for the maintenance maximum rate of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building interest then permitted by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)applicable law.

Appears in 1 contract

Sources: Office Lease Agreement (Management Network Group Inc)

Rent. a. Tenant All rent is payable through the Tenant’s Resident Portal Account, or such other place or address designated by Landlord. Tenant, in return for the use of the Unit and in consideration of the terms, conditions, covenants, and provisions contained herein, shall pay Landlord the sum of [Format(Prospect.UserDefinedField("Lease Prep- Total Numeric Amount for Entire Lease"),"Currency"], without offset or deduction (the “Rent”). Tenant hereby acknowledges that the Term of this Lease may be less than a full calendar year, and the Rent has been allocated into installments of [Format(Prospect.UserDefinedField("Lease Prep- Numeric Monthly Rent (0,000.00)"),"Currency")]. Monthly Rent, together with any other payment of Rent due together therewith shall be payable in advance without further notice, demand or deduction as rent for the Premises Base follows: The first (1st) installment of monthly Rent for each month during the Term. Such amounts shall be due and payable 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 calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money during the entire Term. Time is of the United States of America, at the address indicated essence and Rent is past due if not ACTUALLY RECEIVED by Landlord from time on or before the due date. The first installment of monthly Rent is [Format(Prospect.UserDefinedField("Lease Prep- Numeric First Month's Rent (0,000.00)"),"Currency"]. Tenant's obligation to time. Base pay Rent shall be increased during independent of any of Landlord's obligations hereunder. To the Term extent that Tenant is required or obligated to pay any amounts hereunder to or for the benefit of Landlord, which shall be in addition to the monthly scheduled Rent as provided for in the Basic Lease Information. Base Rentabove, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All such amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed and considered as additional rent (which, collectively with Base Rent, and in all respects intended to be included and considered as "Rent", as such term is defined in the Act. Should any Rent or additional Rent be due, outstanding, unpaid or accrued at the time of the expiration or earlier termination of this Agreement, the duty, liability and obligation of Tenant to pay the same shall survive such expiration or termination. Additional Rent and monthly charges will be deemed “Rent”)listed on separate addenda.

Appears in 1 contract

Sources: Rental Agreement

Rent. a. Tenant shall (a) Commencing on the date that is one hundred twenty (120) days after the Sublease Commencement Date (“Rent Commencement Date”), Subtenant shall, without deduction, demand, notice from Sublandlord, or right of offset, pay Landlord as rent for the Premises Base Rent to Sublandlord for each month during the Term. Such amounts Sublease Term as annual basic rent (“Basic Rent”) in the amount set forth in the following table: Rent Commencement Date through first day of calendar month following calendar month in which anniversary of Rent Commencement Date occurs (such period, “First Lease Year”) $13,306.88 12- month period following expiration of First Lease Year (“Second Lease Year”) $13,706.08 the period following Second Lease Year through Sublease Expiration Date $14,117.26 All payments of Basic Rent shall be due and payable on made in lawful money of the Commencement Date and United States, in advance on the first (1st) day of each calendar month thereafterduring the Sublease Term, without any deduction or offset and without prior notice or demand, in lawful money the first payment of Basic Rent to be made as of the United States date this Sublease is executed and applied against the first Basic Rent due hereunder. Payments in respect of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional a period less than a full calendar month shall be proratedprorated based on the actual number of days in such month during the Sublease Term. (b) Commencing on November 1, 2010 and continuing through the Sublease Term, in addition to payment of the Basic Rent, Subtenant shall pay to Sublandlord, as to each calendar year or portion thereof during the Sublease Term, as additional rent (“Passthrough Rent”), without deduction, demand, notice from Sublandlord, or right of offset, (i) Subtenant’s Percentage Share (as hereafter defined) of the amount by which Operating Expenses (as defined in the Lease) for such calendar year exceed Operating Expenses in calendar year 2010 (“Subtenant’s Expense Payment”) and (ii) Subtenant’s Percentage Share of the amount by which Tax Expenses (as defined in the Lease) for such calendar year exceed the Tax Expenses in calendar year 2010 (“Subtenant’s Tax Payment”). Concurrently with TenantAs used herein, “Subtenant’s delivery to Landlord of an executed copy of this LeasePercentage Share” shall mean Four and 85/100 percent (4.85%) (7,097 divided by 146,189). At Subtenant’s request, Tenant Sublandlord shall deliver to Subtenant any statements, invoices, or other materials delivered to Sublandlord by or at the direction of Landlord with respect to the Base Rent for Passthrough Rent. Subtenant shall have no right to dispute the first month of Operating Expenses and Tax Expenses once the Tern. b. As same is agreed upon by or adjudicated, pursuant to any dispute mechanism is set forth in more detail belowthe Lease or applicable at law, Landlord shall be responsibleby Sublandlord and Landlord. The obligations to make payments hereunder, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project which obligations arise during and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage relate to the Building by Tenant period prior to termination or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms expiration of this Lease to be performed by TenantSublease, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)survive the termination or expiration of this Sublease.

Appears in 1 contract

Sources: Sublease Agreement (Northwest Biotherapeutics Inc)

Rent. a. During the Term, Tenant shall must pay Landlord as rent for in advance, on the Premises first day of each calendar month, the monthly Base Rent and monthly Estimated Expenses, without notice, demand, abatement, offset or deduction. Base Rent and Estimated Expenses shall be appropriately prorated by Landlord on a per diem basis for each any partial month during the Term. Such amounts Base Rent payable for the period from September 1, 2022, through September 30, 2022, and the first month of Estimated Expenses shall be paid by Tenant on or prior to the Lease Commencement Date. Any other Additional Rent shall be due and payable by Tenant on the Commencement Date and on the first (1st) day of each calendar month thereafteror before 10 days after billing by Landlord. Attached hereto as Exhibit D are instructions for all payments by Tenant to Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord which may be updated from time to timetime by written notice delivered by Landlord to Tenant. Base Rent shall be increased during the Term as provided for Tenant’s payment obligations under this Lease are absolute and unconditional and independent covenants from Landlord’s covenants under this Lease. If Tenant is delinquent in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for payment of any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Partiesthan 5 business days, Tenant shall pay to Landlord a late charge equal to 5% of such delinquent sum and, if such delinquency continues for 30 days, interest on the entire late fee and unpaid Rent from the date such amount was due until paid in full at the Applicable Interest Rate. Said late charge shall be in addition to any other rights and remedies available to Landlord under this Lease, at law, or in equity, and shall not be construed as a penalty. Tenant shall also pay Landlord any cost thereof within twenty (20) days of request incurred by Landlord. All amounts required to be paid Landlord in connection with a check presented by Tenant under this Lease other than Base Rent, including any and all other sums that may become is declined due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)insufficient funds.

Appears in 1 contract

Sources: Lease (Repro Med Systems Inc)

Rent. a. A. Tenant shall covenants to pay to Landlord as rent for the Premises Base Rent for each month during the Lease Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at without prior notice, or demand therefor and without any deduction, defense, counterclaim, setoff or abatement whatsoever except as otherwise expressly provided herein, the address indicated by Landlord from time to time. full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be become due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of under this Lease, Tenant shall deliver to Landlord the Base Rent for the first month all of the Ternwhich hereinafter may be collectively called “Rent. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties” In addition, Tenant shall pay the entire cost thereof within twenty (20) days of request pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by Landlord. All amounts 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 other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply Lease. Such payments shall be paid concurrently with the terms payments of this the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease to be performed by TenantTerm, shall be deemed additional rent (whichdue and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, collectively with without demand. If the Lease Term commences on a day other than the first day of a month or the Lease Term terminates on a day other than the last day of a month, then the installments of Base Rent, Rent and Additional Rent for such month or months shall be deemed prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant's covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid. 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 Rent”)Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable immediately by Tenant to Landlord.

Appears in 1 contract

Sources: Office Lease (Aveo Pharmaceuticals, Inc.)

Rent. a. During the Term, Tenant shall pay to Landlord as base rent for (the Premises “Base Rent”) in the following amounts: Period Base Rent for Annual Monthly Months 24: 1- $50,000.00 $4,167.00 Months 36: 25- $51,500.00 $4,292.00 Months 48: 37- $53,045.00 $4,420.00 Months 60: 49- $54,636.00 $4,553.00 Base Rent shall be paid in equal monthly installments in advance on or before the first day of each and every month during the Term, without any set-off or deduction whatsoever, except as expressly provided herein. Such Any and all amounts due hereunder by Tenant other than Base Rent may be referred to as “Additional Rent” and Base Rent and Additional Rent may be referred to herein collectively as the “Rent.” Tenant’s obligation to pay Additional Rent shall be due and payable commence on the Commencement Date. If the Commencement Date and is other than the first day of a month or the Term ends other than on the first (1st) last day of each calendar month thereafterthe month, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar such month shall be proratedprorated on the basis of the actual number of days in such month. Concurrently with Tenant’s delivery Rent payable to Landlord shall be paid to Landlord at c/o CGM ▇▇▇▇▇, L.L.C., ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇. It is the intention of an executed copy of the parties hereto that, except for those expenses for which Landlord is expressly responsible under this Lease, Tenant Landlord shall deliver have no obligation to Landlord pay any expenses whatsoever with regard to the Base Rent for Premises during the first month Term, as it may be extended, and that all such expenses shall be and hereby are the sole responsibility and obligation of Tenant. Except as expressly provided herein, no abatement, diminution or reduction of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate Rent or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid other charges payable by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)claimed by or allowed to Tenant.

Appears in 1 contract

Sources: Lease Agreement

Rent. a. 4.1 Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “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 for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money provided that the installment of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first full calendar month of the Tern. b. As Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. Unless otherwise specifically set forth in more detail belowherein, 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 designates and shall be responsiblemade by good and sufficient check or by other means acceptable to Landlord and initially shall be made as follows: If by Regular Mail: Normandy ▇▇▇▇▇▇▇▇▇ Road, without additional charge to TenantLLC ▇.▇. ▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, for the maintenance of the Common Areas▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ If by Overnight Mail/Courier: ▇▇ ▇▇▇▇▇▇ Chase - Lockbox Processing Normandy ▇▇▇▇▇▇▇▇▇ Road, exterior areas of the Project and base Building mechanicalLLC Lockbox 30930 4 Chase Metrotech Center Ground Level Courier on ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment)▇▇ ▇▇▇▇▇ If by Wire Transfer: Normandy ▇▇▇▇▇▇▇▇▇ Road, insurance for the ProjectLLC Account No. 230460283 ABA : ▇▇▇▇▇▇▇▇▇ Bank: JPMorgan Chase Bank ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, ▇▇ ▇▇▇▇▇ Tenant shall pay the entire cost thereof Landlord an administration fee equal to 5% of all past due Rent that is not paid within twenty five (205) days of request the date when due. In addition, past due Rent shall accrue interest at the lesser of 12% per annum or the maximum rate allowed by law from the due date until actually paid. Landlord. All amounts required to be paid by Tenant under this Lease other ’s acceptance of less than Base Rent, including any and all other sums that may become due by reason the correct amount of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, Rent shall be deemed additional rent (which, collectively with Base Rent, considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be deemed “Rent”)prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.

Appears in 1 contract

Sources: Office Lease Agreement (Bio Key International Inc)

Rent. a. Notwithstanding anything to the contrary contained in the Lease, the Rent due under the Lease shall be modified as follows: A. Provided Tenant shall pay Landlord as rent for is not then in Default under any of the Premises terms, covenants or conditions of the Lease, effective on July 1, 2008 and continuing through December 31, 2020, annual Base Rent for each month the Existing Premises only shall be reduced by $2.25 per RSF of the Existing Premises per annum. B. Beginning on the date of final execution and delivery of this Amendment, Tenant shall receive from Landlord an immediate Rent credit in the amount of $3,000,000.00 (“Rent Credit”), to be applied as provided in this Paragraph B in Tenant’s sole discretion as it elects in a written notice to be given to Landlord, including, at any time or from time to time during the Term. Such amounts shall be due and payable on , toward all or any portion of Rent or any component of Rent, provided that at the Commencement Date and on time Tenant seeks to apply the first (1st) day of each calendar month thereafterRent Credit, without Tenant is not in Default under any deduction or offset and without prior notice or demand, in lawful money of the United States terms, covenants or conditions of Americathe Lease. C. Effective January 1, at 2021, the address indicated by Landlord from time to time. Base Rent shall be increased during adjusted to equal one hundred percent (100%) of the Term Prevailing Market Rent (as provided defined below) for the Premises, including the Existing Premises, the Expansion Space and the Option Space. “Prevailing Market Rent” shall mean the annual market rental rate or rates for renewal leases of space in the Basic Lease Information. Base RentBuilding and other comparable office buildings within the central business district of Chicago consisting of more than 100,000 rentable square feet and otherwise comparable to the extent practicable with respect to the condition, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord location and use of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant“Comparable Leases”) for a term of five (5) years, adjusting for all concessions, landlord work and expenses, brokerage commissions, allowances and other incentives provided in the Comparable Leases. Only Comparable Leases executed during the twelve (12) month period prior to the date of Landlord’s specialized equipment), insurance for written notice to Tenant of Landlord’s determination of the Project, real estate taxes for Prevailing Market Rent during such period shall be considered in determining the Project, and utilities and janitorial service as described in Section 12 belowPrevailing Market Rent. Notwithstanding the foregoing, Prevailing Market Rent shall take into account the future value of the following, calculated as provided below: (i) the reduction in annual Base Rent pursuant to Paragraph 5.A above, and (ii) applicable leasing commissions payable for the event period from January 1, 2021 to December 31, 2025 in connection with the extension of the Term with respect to the Premises (including the Existing Premises, the Expansion Premises and the Option Space) through December 31, 2025 pursuant to this Amendment (collectively, the “Concessions and Costs”). The future value of Concessions and Costs shall be (1) calculated using an interest rate of 8.5% per annum beginning on the date each commission is paid, and the date each such rent reduction inures to the benefit of Tenant, and (2) compounded on a monthly basis. An example of the methodology used to determine Prevailing Market Rent taking into consideration the adjustments to Concessions and Costs listed above is attached to this Amendment as Exhibit C and made a part hereof as if fully set forth herein. Landlord will deliver written notice to Tenant of its determination of the Prevailing Market Rent not later than July 1, 2020. If Tenant believes that the Prevailing Market Rent quoted by Landlord is not consistent herewith, Tenant may object in writing within ten (10) days after receipt of Landlord’s disproportionate or after-hours use of utilities written notice, and Landlord and Tenant shall commence negotiations to attempt to agree upon the Prevailing Market Rent. If Landlord and Tenant are unable to reach agreement on the Prevailing Market Rent within ten (beyond 10) days after the hours or levels date the parties commence negotiations, then Landlord and Tenant shall follow the procedure set forth in Section 12)43.C of the Original Lease, Tenant’s request for additional services or damage to provided that the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, term “Market Rental Rate” therein shall be deemed additional rent (which, collectively with Base “Prevailing Market Rent, shall be deemed “Rent”)” as defined herein.

Appears in 1 contract

Sources: Lease (Northern Trust Corp)

Rent. a. A. Tenant shall pay rent (the "Minimum Rent") in accordance with the following Schedule: Tenant shall pay all sums due and owing to Landlord under this Lease in lawful money of the United States of America in the form of a good check to Landlord at the address provided in Section 23 or in such other manner or at such other place as rent for the Premises Base Landlord may designate in a written notice to Tenant from time to time. The first payment of Minimum Rent for each month during the Term. Such amounts shall be due and payable upon execution of this Lease, to be applied to the first installment of Minimum Rent. Minimum Rent shall be payable in equal monthly installments in accordance with the foregoing schedule, each in advance on the Commencement Date and on or before the first (1st) day of each calendar and every month thereafterduring the Term, without any deduction or offset and without prior notice or set-off, deduction, demand, in lawful money diminution, or billing whatsoever, except that (i) Tenant shall pay an amount equal to the first monthly installment of the United States of America, Minimum Rent at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy execution of this Lease, Tenant which shall deliver be applied to Landlord the Base first installment of Minimum Rent due, and (ii) if either the Term or the obligation to pay Minimum Rent commences on a day other than on the first day of the month or ends on a day other than on the last day of the month, the Minimum Rent for such month(s) shall be prorated on a per diem basis. The prorated Minimum Rent for the first month part of the Ternmonth in which the Term commences shall be paid on the Rent Commencement Date. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, B. The Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required Minimum Rent and Additional Charges according to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, hereof beginning on the Rent Commencement Date. The Rent Commencement Date shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)30 days after the Effective Date of the Lease.

Appears in 1 contract

Sources: Lease Agreement

Rent. a. 5.1. The term “Rent” as used in this Lease, shall include the Base Rent, and all other items, costs and expenses identified herein as “Additional Rent,” together with all other amounts payable by Tenant to Landlord under this Lease. Beginning on the Rent Commencement Date, Tenant shall pay Landlord as rent for each monthly installment of Rent (plus all sales taxes from time to time imposed by any Governmental Authority in connection with rents paid by Tenant under this Lease), in advance on the Premises Base Rent for first calendar day of each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments Monthly installments for any fractional calendar month month, at the beginning or end of the Term, shall be proratedprorated based on the number of days in such month, which fall during the Term. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay all Rent, without demand, deduction or set off, to Landlord at the entire cost thereof place specified for notice in Section 33 below. Tenant also shall pay a late charge (“Late Charge”) equal to the maximum lawful rate of interest per annum, on a per diem basis, of the amount of any delinquent installment of Rent as an administrative fee with each payment of Rent not paid within twenty three (203) days after same is due hereunder. The provisions herein for a Late Charge shall not be construed to extend the date for payment of request by Landlord. All amounts any sums required to be paid by Tenant under hereunder or to relieve Tenant of its obligations to pay all such items at the time or times herein stipulated. Notwithstanding the imposition of such Late Charge pursuant to this Lease other than Base RentSection, including an Event of Default shall occur if any and or all other sums that may become due payments required to be made by reason Tenant are not made before the expiration of any default applicable notice and cure periods set forth in this Lease, and neither demand nor collection by Landlord of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, any such Late Charge shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)construed as a cure for such Event of Default on the part of Tenant.

Appears in 1 contract

Sources: Office Lease (Towerstream Corp)

Rent. a. Tenant Notwithstanding anything to the contrary contained in the Master Lease relating to Rent, Sublessee shall pay Landlord to Sublessor fixed monthly rent ("Rent") as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable provided below. (a) Commencing on the Commencement Date and continuing thereafter through October 31, 1997, Sublessee shall pay to Sublessor as monthly Rent for the Premises on the first (1st) day of each calendar month, the sum of $4,260.73, which sum includes the following monthly charges: $3.363/42 for Base Rent ("Base Rent"), $120.00 for water/trash services, and $777.31 for Operating Expenses charges applicable to the Premises. The foregoing amount does not include any charges for utilities which Sublessee shall pay directly as provided in Section 9 hereof. If the term of this Sublease commences on a day other than the first day of a calendar month thereafteror if the term of this Sublease terminates on a day other than the last day of a calendar month, without any deduction the Rent for such first or offset last month of the term of the Sublease, as the case may be, shall be prorated based on the number of days the term of this Lease is in effect during such month. (b) In addition, effective as of November 1, 1997, Rent may be increased as provided in Section 5 of the Addendum to the Lease. Charges for water/trash services and without prior notice Operating Expenses may also increase as provided in Section 5 of the Addendum to Lease. Sublessee shall pay all increases in such charges commencing on November 1, 1997. (c) Sublessee shall pay, as additional rent ("Additional Rent") within ten (10) days after demand, all other amounts payable by Sublessor under the Master Lease which are incurred at the request of Sublessee or demandwhich are applicable to the Premises. It is the intent of the parties that Sublessee shall pay all costs and expenses relating to the Premises which arise under the Master Lease, whether or not such costs and expenses are specifically referred to herein. (d) Rent shall be payable to Sublessor, in advance, in lawful money of the United States States, without prior notice, demand, or offset, on or before the first day of America, at the address indicated by Landlord from time to time. Base Rent shall be increased each calendar month during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Ternterm hereof. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in e) In the event of Tenant’s disproportionate any casualty or after-hours use of utilities (beyond condemnation affecting the hours or levels set forth in Section 12)Premises, Tenant’s request for additional services or damage Rent payable by Sublessee shall be abated hereunder, but only to the Building by Tenant extent that Rent under the Master Lease is abated. Sublessee waives any right to terminate the Sublease in connection with such casualty or condemnation except to the extent the Master Lease is also terminated as to the Premises or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)portion thereof.

Appears in 1 contract

Sources: Sublease Agreement (McHenry Metals Golf Corp /Ca)

Rent. a. (a) Tenant shall timely pay to Landlord Rent (as rent for defined in the Premises Basic Lease Information), including the amounts set forth in Exhibit C attached hereto and incorporated herein by reference, without notice, demand, deduction or set-off (except as otherwise expressly provided herein), which payment shall be accompanied by all applicable state and local sales or use taxes. Unless otherwise prohibited by Law, Tenant shall make Rent payments via Automated Clearing House payment processing or other payment process requested by Landlord. The obligations of Tenant to pay Base Rent for each month during (as defined in the TermBasic Lease Information) and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Such amounts Base Rent, adjusted as herein provided, shall be due and payable on monthly in advance. The first (1st) monthly installment of Base Rent shall be payable together with delivery of the Commencement Date and Letter of Credit, as the case may be, contemporaneously with the execution of this Lease; thereafter, Base Rent shall be payable on the first (1st) day of each month beginning on the first (1st) day of the second (2nd) full calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, Term. The monthly Base Rent for any partial month at the address indicated by Landlord from time to time. beginning of the Term shall equal the product of 1/365 of the annual Base Rent in effect during the partial month and the number of days in the partial month and shall be increased during due on the Term as provided for in the Basic Lease InformationCommencement Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Payments of Base Rent adjustments for any fractional calendar month at the end of the Term shall be similarly prorated. Concurrently with TenantTenant shall pay Additional Rent, Taxes and Insurance (each as defined in Exhibit C attached hereto and incorporated herein by reference) at the same time and in the same manner as Base Rent. (b) If Rent payments are paid by corporate check, then at all times that Landlord shall direct Tenant to pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a person or entity other than Landlord (albeit on Landlord’s delivery to Landlord of an executed copy of authority), then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, Tenant and (ii) Landlord shall deliver be deemed to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail belowhave accepted such payment if (and only if) within said ten (10) day period, Landlord shall be responsible, without additional charge not have refunded (or attempted to refund) such payment to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, Nothing contained in the event immediately preceding sentence shall be construed to place Tenant in an Event of Default (as defined herein) of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request obligation to pay Rent if and for additional services or damage to the Building by Tenant or any Tenant Parties, so long as Tenant shall timely pay the entire cost thereof within twenty (20) days of request Rent required pursuant to this Lease in the manner designated by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 1 contract

Sources: Office Lease Agreement (Heron Therapeutics, Inc. /De/)

Rent. a. A. Tenant shall pay to Landlord as the following rent for under this Lease: 1. Commencing on the Premises Lease Commencement Date, base rent (“Base Rent”) payable in advance in equal monthly installments (“Monthly Base Rent”) pursuant to the schedule below. The first installment of Monthly Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date execution of this Lease in an amount equal to a full month’s installment, and the remaining successive installments shall be due and payable on the first (1st) day of each calendar month thereafterduring the Term. If the Rent Commencement Date occurs on a day other than the first day of a month, without any deduction or offset and without prior notice or demand, in lawful money Base Rent from the Rent Commencement Date until the first day of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar following month shall be prorated. Concurrently with Tenant’s delivery to Landlord prorated at the rate of an executed copy one-thirtieth (1/30) of this Lease, Tenant shall deliver to Landlord the Monthly Base Rent for each day, and any excess paid as the first month installment on the execution of this Lease shall be credited toward the Ternsecond installment. Month 1 – 12 $ 36,441.60 Month 13 – 24 $ 37,542.44 Month 25 – 36 $ 38,681.24 Month 37 – 48 $ 39,858.00 Month 49 – 60 $ 41,072.72 2. Commencing on the Lease Commencement Date, additional rent (“Additional Rent”) consisting of all other sums of money as shall become due from Tenant under this Lease. b. As set forth in more detail below, Landlord 3. All Base Rent and Additional Rent payable under this Lease shall be responsiblecollectively referred to herein as “Rent.” B. Tenant shall pay all Rent without demand, without additional charge deduction, set-off or counterclaim. If Tenant fails to Tenant, for the maintenance make any payment of the Common Areas, exterior areas Rent or other sums required to be paid to Landlord hereunder within five (5) business days of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Partiespayment due date, Tenant shall pay to Landlord, as Additional Rent, for each month or part thereof until paid, a late fee equal to five percent (5%) of the entire cost thereof within twenty (20) days of request by amount due to cover Landlord. All amounts required to be ’s administrative expenses, and interest until paid by Tenant at the Default Rate provided under this Lease other than Lease; provided, however, that should such late fee or interest at any time be deemed to violate any applicable usury laws, the late fee or interest charged shall be the highest permissible by such laws. For default in the payment of Additional Rent, Landlord shall have the same remedies as for a default in the payment of Base Rent, including . If Landlord shall at any and all other sums that may time or times accept any Rent after it has become due by reason and payable, such acceptance shall not excuse delay at subsequent times, nor constitute a waiver of any default of Tenant or failure to comply with the terms of Landlord’s rights under this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)Lease.

Appears in 1 contract

Sources: Lease (MPC Corp)

Rent. a. 3.1 Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts , except that the first full month’s rent shall be due and payable on paid upon the Commencement Date and on execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the first (1st) day 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 each calendar month thereafterthe Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by 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 timetime designate in writing. Base Rent 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 next scheduled rent payment or within thirty (30) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be increased during 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 Term as provided for in the Basic Lease Informationextent of which additional expense is extremely difficult and economically impractical to ascertain. Base Rent, as so adjusted, shall thereafter be Tenant therefore agrees that if rent or any other sum is not paid when due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery and payable pursuant to Landlord of an executed copy of this Lease, Tenant a late charge shall deliver be imposed in an amount equal to Landlord the Base Rent for the first month greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance unpaid rent or other payment. The amount of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required late charge to be paid by Tenant under shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Lease Section 3.2 in no way relieve Tenant of the obligation to pay rent or other than Base Rentpayments on or before the date on which they are due, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease to be performed by Tenant, shall be deemed additional in the event said rent (which, collectively with Base Rent, shall be deemed “Rent”)or other payment is unpaid after date due.

Appears in 1 contract

Sources: Lease (Knology Inc)

Rent. a. Tenant shall agrees to pay to Landlord at Landlord's Notice Address, without demand, deduction or set-off, annual rent equal to the Base Rent, as rent for adjusted from time to time pursuant to the Premises Base Rent for each month during the Term. Such amounts shall be due and terms hereof, payable on the Commencement Date and in equal monthly installments in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, during the term hereof. The Base Rent initially payable hereunder shall be the "Initial Base Rent" set forth in lawful money the Summary of the United States of America, at the address indicated by Landlord from time to timePrimary Business Terms hereinabove. The Base Rent shall be increased during the Term adjusted from time to time as provided for set forth in the Basic Lease InformationSection 4 below. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy Upon execution of this Lease, Tenant shall deliver pay to Landlord the monthly Base Rent for the first full calendar month of the Tern. b. As set forth in more detail below, Landlord Lease Term. Base Rent and Additional Rent for any partial month during the Lease Term shall be responsiblepro-rated based on the number of days in such month, without additional charge to Tenant, and Base Rent for any such partial month at the maintenance beginning of the Common AreasLease Term shall be paid on the Commencement Date. Landlord does not mail or otherwise distribute statements or bills for rent or other amounts due hereunder, exterior areas of the Project except as may be expressly otherwise provided herein. It is Tenant's sole responsibility to ensure that payments are made and base Building mechanicalreceived when due. If any check received by Landlord from Tenant shall be dishonored, plumbing refused or returned, then in addition to Landlord's other remedies and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Partiesrights, Tenant shall pay a $100.00 administrative charge, in addition to any late charges and the entire cost thereof within twenty (20) days payment in respect of request by Landlordwhich the check was given. All Tenant and Landlord agree that all amounts required to due hereunder, whether labeled Base Rent, Additional Rent or otherwise, shall be paid by Tenant considered as rental reserved under this Lease other than Base Rentfor all purposes, including any and all other sums that without limitation regulations pursuant to the United States Bankruptcy Code, as may become due by reason of any default of Tenant or failure be amended from time to comply with the terms of this Lease to be performed by Tenanttime, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”including further without limitation Section 502(b)(6).

Appears in 1 contract

Sources: Commercial Lease (Towne Services Inc)

Rent. a. Tenant shall pay to Landlord as rent for minimum monthly rent, without deduction, setoff, prior notice, or demand, the Premises Base Basic Monthly Rent for each month during described in Paragraph 2.6, above (subject to adjustments as provided in the Term. Such amounts shall be due and payable attached Addendum), in advance, on the Commencement Date and on or before the first (1st) day of each calendar month thereaftermonth, without any deduction or offset beginning on the Rent Commencement Date and without prior notice or demandthereafter throughout the Term. If the Rent Commencement Date is other than the first day of a calendar month, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in then the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Monthly Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, payable by Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord Term following the Rent Commencement Date (which first month shall be responsible, without additional charge to Tenant, for payable upon execution of this Lease) shall be prorated on the maintenance basis of the Common Areas, exterior areas actual number of days during the Project and base Building mechanical, plumbing and electrical systems serving Term occurring during the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 belowrelevant month. Notwithstanding the foregoing, if Landlord is delayed in the event completion of TenantLandlord’s disproportionate Work due to any act or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building omission by Tenant or any Tenant Partiesits agents, Tenant shall pay employees, contractors, or representatives, then in addition to the entire cost thereof within twenty (20) days Basic Monthly Rent payable for the first month of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rentthe Term following the Rent Commencement Date, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base 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 deemed “Rent”).paid to Landlord at the same address as notices are to be delivered to Landlord pursuant to Paragraph 2.10, above. Landmark National Ban—Revised 8-16-01 Standard Shopping Lease FINAL 8-16-01 Landlord /s/ [ILLEGIBLE] Tenant /s/ [ILLEGIBLE]

Appears in 1 contract

Sources: Standard Retail Lease (1st Pacific Bancorp)

Rent. a. A. During the Term, Tenant promises to pay to Landlord the rent reserved under this Lease, which shall consist of: (i) an annual fixed rent (hereinafter, the “Fixed Rent”) as follows: 1 $ 579,319.43 $ 48,276.62 2 593,802.42 49,483.54 3 608,647.48 50,720.62 4 623,863.66 51,988.64 5 639,460.26 53,288.36 Notwithstanding the foregoing, no Fixed Rent or Tax Rent shall be due until the Rent Commencement Date; provided, however, from and following the Commencement Date, Tenant shall be liable for all other charges payable by Tenant under this Lease, including, without limitation, all water and sewer charges, all fuel, electricity and other utility charges which may be incurred at the Demised Premises (other than real estate taxes). (ii) all other sums of money as shall become due and payable by Tenant under this Lease (hereinafter, “Additional Rent”), all of which sums shall be payable as hereinafter provided. In the event any installment of Fixed Rent or Additional Rent required pursuant to the provisions of this Lease to be paid by Tenant is not paid within ten (10) days after the date due, Tenant shall pay to Landlord as rent for Additional Rent a late charge of four (4%) percent of the Premises Base Rent for each month during the Termamount past due to cover Landlord’s administrative expenses incurred in connection with such late payment. Such amounts In addition, Tenant shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafterpay, without any deduction or offset and without prior notice or upon demand, in lawful money of as Additional Rent, interest on such late payment (i.e. which is not paid ten (10) days following the United States of Americadate due), at the address indicated Interest Rate, from the date due, until paid, and upon demand by Landlord from time to time. Base Rent shall be increased during any reasonable attorneys’ fees and disbursements incurred by Landlord in connection with the Term as provided for in the Basic Lease Information. Base collection or payment of any Fixed Rent, as so adjustedAdditional Rent and/or said administrative charge, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with to Tenant’s delivery failure to pay said amounts, as herein provided, after expiration of applicable notice and cure periods, said attorneys’ fees and disbursements to be deemed Additional Rent (to the extent Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord is the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipmentprevailing party), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, Landlord shall not impose the late charge or default interest on Tenant the first time in any twelve (12) month period that payment is not received by Landlord within such ten (10) day grace period, provided such payment is made within five (5) days after written notice. (i) Tenant shall have the option of extending the Term for two additional terms (each term, a “Renewal Term”) of five (5) years each on the same terms and conditions as provided herein, except the Fixed Rent for each Renewal Term as set forth below. Notice of the exercise of such options (“Extension Notice”) shall be delivered by Tenant to Landlord, in writing, no later than the first day of the twelfth (12th) month prior to the expiration date of the Initial Term or the first Renewal Term, as the case may be. Time shall be of the essence as to giving of the Extension Notice. Tenant’s right to extend the Term pursuant to this Section 2.B (i) shall be conditioned upon there being no default by Tenant which remains uncured after applicable notice and cure periods in the event observance or performance of Tenant’s disproportionate any of the material or after-hours use financial terms, covenants and conditions of utilities this Lease either at the time of the exercise of the option or on the expiration of the Initial Term or the first Renewal Term, as the case may be, and (beyond ii) for the hours or levels set forth second Renewal Term, shall be conditioned upon Tenant having simultaneously exercising the renewal option contained in Section 12the “Retail Lease” (as hereinafter defined). (a) If Tenant has elected to renew the Term of this Lease, as provided in subparagraph (i) above for the first Renewal Term, the Fixed Rent for the Premises shall be as follows: 6 $ 715,958.60 $ 59,663.22 7 720,530.52 60,044.21 8 725,131.62 60,427,64 9 729,762.12 60,813.51 10 734,422.17 61,201.85 (b) Except as provided in subparagraph (a) above, Tenant’s request for additional services or damage occupancy of the Premises during the first Renewal Term shall be on the same terms and conditions as were in effect immediately prior to the Building by expiration of the initial term of this Lease. (c) The termination of this Lease during the Initial Term hereof shall also terminate and render void any option or right on Tenant’s part to extend the term of this Lease pursuant to Section 2.B whether or not such option or right shall have theretofore been exercised. (d) If Tenant exercises its right to extend the term of this Lease for the first Renewal Term pursuant to this Section 2.B, the words and phrases “Term”, “Lease Term”, “the term of this Lease” or any “the term hereof” as used in this Lease, shall be construed to include the first Renewal Term, and the Expiration Date shall be construed to be the date of the expiration of the first Renewal Term. (iii) If Tenant Partieshas elected to renew the term of this Lease, as provided in subparagraph (i) above for the second Renewal Term, (a) the Fixed Rent for the second Renewal Term shall be the Fair Market Rent for the second Renewal Term, as determined below and (b) at least 4 months prior to the commencement of the second Renewal Term, Landlord shall give to Tenant a notice (“Landlord’s Notice”) setting forth Landlord’s statement of the Fair Market Rent during the second Renewal Term, which shall be conclusive and binding as the basis for determining the annual Fixed Rent to be paid during the second Renewal Term unless (a) within 45 days after the giving of the Landlord’s Notice, or having failed to do so, 15 days following a reminder notice from Landlord to Tenant (in 12 point bold capital letters), Tenant shall pay notify Landlord that Tenant disputes Landlord’s statement of the entire cost thereof Fair Market Rent, specifying Tenant’s statement (“Tenant’s Statement”) of the Fair Market Rent during the second Renewal Term and (b) if such dispute shall not be resolved by the commencement of the second Renewal Term, Landlord and Tenant shall within twenty (20) days after the commencement of request the second Renewal Term, submit the dispute to arbitration pursuant to the provisions of subparagraph (iv) below. In the event such dispute is submitted to arbitration, the arbitrators shall determine the annual Fair Market Rent during the second Renewal Term in accordance with the instructions set forth in subparagraph (v), and a sum equal to said amount, subject to the provisions of this Lease, shall be the annual Fixed Rent payable by Landlord. All amounts required Tenant during the second Renewal Term; provided, however, that in no event shall the annual Fixed Rent payable by Tenant during each year of the second Renewal Term be less than $734,422.17 per annum (“Initial Term Escalated Rent”). (a) If upon the commencement of the Renewal Term the annual Fixed Rent to be paid during the second Renewal Term shall not have been determined (by arbitration or by agreement of Landlord and Tenant), Tenant, effective as of the commencement of the second Renewal Term, shall pay on account of annual Fixed Rent, 50% of the sum of (i) the annual amount set forth in Landlord’s Statement and (ii) the annual amount set forth in Tenant’s Statement, subject to adjustment upon determination of such annual Fixed Rent. Under such circumstances, upon the determination of the annual Fixed Rent for the second Renewal Term, Tenant shall pay to Landlord within thirty (30) days after demand, any underpayment of annual Fixed Rent by Tenant since the beginning of the second Renewal Term and, in the event of any overpayment of such annual Fixed Rent by Tenant since the beginning of the second Renewal Term, Landlord shall credit the amount of such overpayment against the payments of annual Fixed Rent next coming due hereunder until such time as the overpayment has been fully credited to Tenant. (b) Nothing in this Section 2 shall affect Tenant’s obligations to pay Additional Rent under this Lease. During the second Renewal Term, Tenant shall pay (a) Additional Rent in accordance with the provisions of Article 8, without change in any other provision of Article 8, including, without limitation, without change in the Base Year, and (b) all other Additional Rent payable under this Lease in accordance with the terms hereof, all of which shall be taken into account in determining fair market rental value for the Premises for the second Renewal Term. (iv) In the event that, pursuant to the provisions of subparagraph (iv), the determination of the Fair Market Rent to be paid during the second Renewal Term is submitted to arbitration, then within twenty (20) days after commencement of the second Renewal Term, Landlord and Tenant shall each appoint a person as arbitrator on its behalf and shall notify the other party of such appointment. The arbitrators thus appointed shall appoint a third person who shall be impartial to act as an arbitrator hereunder, and such three arbitrators shall as promptly as possible determine the annual fair market rental value for the Premises during the second Renewal Term in accordance with the provisions of subparagraph (v); provided, however, that if the two arbitrators appointed by the parties shall be unable to agree within ten (10) days after the appointment of the second arbitrator, they shall give written notice to the parties of such failure to agree, and the parties shall attempt to agree on the appointment of an impartial third arbitrator. If the parties fail to agree upon the selection of such impartial third arbitrator within ten (10) days after the arbitrators appointed by the parties have given notice as aforesaid, then within fifteen (15) days thereafter, either of the parties upon notice to the other party may request such appointment by the American Arbitration Association (or any organization successor thereto) (“AAA”), or in its absence, refusal, failure or inability to act, may apply for a court appointment of such third arbitrator. (v) The arbitration shall be conducted, to the extent consistent with this Lease, in accordance with the then prevailing rules of the AAA and the arbitrators shall be bound by the instructions set forth in this subparagraph (v). The first and second arbitrators appointed pursuant to subparagraph (iv) shall submit their respective determinations in writing to the third arbitrator within twenty (20) days after the appointment of the third arbitrator and such third arbitrator shall, within ten (10) days after submission of the first and second arbitrator’s respective determinations, select the annual fair market rental value in the opinion of the impartial third arbitrator (taking into account all relevant factors, including, without limitation, those set forth in this Section 2.B(v)). The impartial third arbitrator may not select any other rental amount. The arbitrator appointed by Landlord may not submit an amount in excess of the sum set forth in Landlord’s Statement and the arbitrator appointed by Tenant may not submit an amount less than the sum set forth in Tenant’s Statement. The decision by the third impartial arbitrator shall be in writing and shall be conclusive and binding on both Landlord and Tenant. In rendering such decision and award, the arbitrators shall not add to, subtract from or otherwise modify the provisions of this Lease. Judgment may be had on the decision and award of the arbitrator(s) so rendered in any court of competent jurisdiction. The arbitrators shall make their respective determinations based on the following, and the arbitrators shall be so instructed: (a) The Fair Market Rent during the second Renewal Term shall be the then annual fair market rental value of the Premises, (1) without any reduction to reflect that Tenant saves moving expenses by exercising the renewal option, (2) without any reduction to reflect any discount for the length of the second Renewal Term for comparable space in comparable buildings in Soho, (3) taking into consideration any increases or possible increases in rental during the second Renewal Term then being included in leases for space in such comparable buildings based on changes in price indices, including the Consumer Price Index, cost of living or other similar increases, or periodic rental adjustments, (4) taking into account that the Premises is leased in its then “as is” condition, (5) assuming that the Premises are leased vacant and unencumbered by this Lease, (6) taking into account the size and condition of the Premises and the condition of the Building, the credit-worthiness of Tenant and Guarantor, and services provided by Landlord and Tenant under this Lease; (7) taking into account that the Base Year does not change during the second Renewal Term and (8) taking into account the increase in the Fixed Rent that occurs during the second Renewal Term as provided in Section 2.B(vi) below; (9) taking into account all other relevant factors as may be material and relevant to a proper determination of the annual fair market rental value for the Premises during the second Renewal Term, (10) taking into account the leasing by Tenant of Retail Premises, together with the Premises and (11) no tenant improvement allowance, or brokerage commission, if accurate, is being paid by Landlord. (b) The Additional Rent payable by Tenant under this Lease shall continue to be payable during the second Renewal Term without any change in any provisions of Article 8 or any other provisions of this Lease relating to Additional Rent, including, without limitation, the Base Year. (vi) The annual Fixed Rent determined by such arbitration, or pursuant to Section 2.B(x) below, shall increase no less than annually on a compounded basis, as determined by the arbitrators, taking into consideration increases in rental then being included in leases for office space in comparable buildings in the vicinity of the Premises but in no event less than 2 1⁄2% per Lease Year cumulatively. (vii) Each party shall pay the fees and expenses of the one of the two original arbitrators selected by such party. The fees and expenses of the third arbitrator and all other expenses of the arbitration (other than Base the fees and disbursements of attorneys or witnesses for each party) shall be borne by the parties equally. (viii) Each arbitrator appointed pursuant to this Section 2.B shall have at least 10 years’ experience in the City of New York as a licensed retail appraiser or retail real estate broker in the City of New York. (ix) Upon final determination of the Fair Market Rent for the Renewal Term pursuant to this Section 2.B, Landlord and Tenant, upon the demand of either of them, shall enter into a supplementary agreement to set forth the annual Fixed Rent for such Renewal Term; provided, however, that failure of either party to execute such supplementary agreement shall not affect the Fixed Rent due for the second Renewal Term pursuant to the foregoing provisions of this Section 2.B. (x) The provisions of this Article 2.B, (iii) - (ix) shall be inapplicable and have no force or effect in the event that Landlord notifies Tenant in Landlord’s Notice that the annual Fixed Rent for the second Renewal Term shall be the Initial Term Escalated Rent, including increasing 2 1⁄2% per Lease Year in lieu of operating expense increases. (xi) Except as provided in this Section 2.B, Tenant’s occupancy of the Premises during the second Renewal Term shall be on the same terms and conditions as were in effect immediately prior to the expiration of the first Renewal Term of this Lease. (xii) If Tenant exercises its right to extend the term of this Lease for a Renewal Term pursuant to this Section 2.B, the phrases “Term,” “the term of this Lease” or “the term hereof” as used in this Lease, shall be construed to include such Renewal Term, and the Expiration Date shall be construed to be the Extension Expiration Date. (xiii) If Tenant does not timely send the Extension Notice pursuant to provisions of Section 2.B(i) hereof, this Section 2.B shall have no force or effect and shall be deemed deleted from this Lease. The termination of this Lease during the initial Term hereof shall also terminate and render void any option or right on Tenant’s part to extend the Term of this Lease pursuant to this Section 2.B whether or not such option or right shall have theretofore been exercised. (xiv) If Tenant elects to renew or extend the term of this Lease and retains a broker, other than Broker, Tenant agrees to pay any and all other sums that may become due by reason of any default of Tenant or failure brokerage commissions incurred in connection with such renewal and agrees to comply with the terms of this Lease to be performed by Tenantindemnify, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).defend and hold L

Appears in 1 contract

Sources: Lease (SoulCycle Inc.)

Rent. a. Tenant shall pay Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1stA) day of each calendar month thereafter, without any deduction or offset and without prior notice or demandTenant, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy consideration of this Lease, Tenant shall deliver agrees to Landlord pay to Landlord, Basic Rent during the Base Rent for Term hereof, to be received on or before the first day of each month in accordance with the following schedule: (i) For the Lease Year January 1, 1997-December 31, 1997, seventy four thousand six hundred thirty dollars and 88/100 dollars ($74,630.88) payable in twelve equal monthly installments of six thousand two hundred nineteen dollars and 24/100 dollars ($6,219.24); (ii) For each of the Tern. b. As set forth in more detail belowLease Years beginning January 1,1 998 through and including the leas year beginning January 1, Landlord 2006 the following rental adjustment shall apply: The rental amount from the previous year shall be responsibleadjusted by the Consumer Price Index, without additional charge to Tenant, specifically the CPI for the maintenance of the Common Areas, exterior areas of the Project all Urban Consumers. The adjustment shall be no less than 3.5% per year and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 belowno more than 7% per year. Notwithstanding the foregoing, in In the event that tenant pays Landlord any installments of Tenant’s disproportionate Basic Rent or after-hours use of utilities (beyond Percentage Rent after the hours or levels set forth in Section 12)due date, Tenant’s request for additional services or damage to the Building by Tenant or any Tenant PartiesAdditional Rent (as hereinafter defined) later than the (5th) day after billing therefore, then and in such event, Tenant shall pay the entire cost thereof to Landlord, together with and in addition to said installment of Basic Rent or Additional Rent, a late charge of five percent (5%) of installment past due. Any installments of Basic Rent or Additional Rent not made within twenty ten (2010) days from the date due shall, in addition to the foregoing late charges, bear interest from the date due at the rate of request eighteen percent (18%) per annum (the “Default Rate”). If Landlord, during the Term of this Lease, receives two (2) or more checks from Tenant which are returned for insufficient funds. Landlord, in addition to applicable late charges and reimbursement for any additional cost incurred by reason of any returned check, may require, at Landlord’s election, that any future payment shall be either bank certified, cashier’s or treasurer’s check. All amounts required None of the foregoing late charges shall be construed to be paid by Tenant limit or otherwise waive any other remedies available to Landlord for Tenant’s default under this Lease. Anything contained herein to the contrary notwithstanding, the late charges provided hereunder shall be abated for one violation each Lease Year, provided Tenant cures such late payment within five (5) days after written notice that the same is past due. (B) Tenant shall tender all payments due hereunder by good check to Landlord c/▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, or to such other than Base Rentparty or such other address as Landlord may designate from time to time by written notice to Tenant. If Landlord shall at any time or times accept said Basic Rent or Additional Rent after it shall become due and payable, including such acceptance shall not excuse delay upon subsequent occasions, or constitute a waiver of any or all of Landlords rights hereunder. (C) This Lease is what is commonly called a “triple net lease”, it being understood that Landlord shall receive the rent free and clear of any and all other sums that may become due by reason impositions, taxes, liens, charges, or expenses of any default nature whatsoever in connection with the ownership and operation of the Premises. In addition to the Basic Rent, Tenant shall pay to the parties respectively entitled thereto all impositions, insurance premiums, utility charges (including but not limited to gas, fuel, electric, water, sewer, trash removal and telephone charges), operating charges, maintenance charges, construction costs, and any other charges, costs, and expenses which arise or may be contemplated under any provisions of the Lease during the Term hereof. All of such charges, costs, and expenses shall constitute Additional Rent, and upon the failure of Tenant to pay any of such costs, charges or expenses, Landlord shall have the same rights and remedies as otherwise provided in this Lease for the failure of Tenant to comply with pay Basic Rent. For purposes herein contained the term “Rent” shall refer to Basic Rent and Additional Rent. It is the intention of the parties hereto that this Lease shall not be terminable for any reason by the Tenant unless otherwise expressly permitted under the terms of this Lease and that Tenant shall in no event be entitled to any abatement of or reduction in Rent payable hereunder, except as herein expressly provided. Any present or future law to the contrary shall not alter this agreement of the parties. If Tenant defaults in the making of any payment to any third party or in the doing of any act required to be performed made or done by Tenant, then Landlord may, but shall not be deemed required to make such payment or do such act, and the amount of the expense thereof, if made or done by Landlord, within interest thereon at the Default Rate accruing from the date paid by Landlord, together with an additional rent charge of fifteen percent (which, collectively with Base Rent15%) of the amount so paid to cover Landlord’s administrative costs, shall be deemed “Rent”)paid by Tenant to Landlord and shall constitute Additional Rent hereunder due and payable by Tenant upon receipt by Tenant of a written statement of costs from Landlord. The making of such payment or the doing of such act by Landlord shall not operate to cure Tenant’s default, nor shall it prevent Landlord from the pursuit of any remedy to which Landlord would otherwise be entitled.

Appears in 1 contract

Sources: Lease Agreement (Monro Muffler Brake Inc)

Rent. a. Section 3.1 The Tenant shall pay Landlord to the Landlord, during the Term without counterclaim, deduction or setoff, except as otherwise provided herein, basic rent (hereinafter "Term Basic Rent"), calculated in accordance with Section 3.2 and payable in such coin or currency of the United States of America as at the time of payment shall be legal tender for the Premises Base payment of public and private debts. Section 3.2 The Term Basic Rent for each month during shall accrue at the Term. Such amounts annual rates (hereinafter referred to as the "Annual Basic Rent"), and shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafterduring the Term in the monthly installments of Term Basic Rent (hereinafter referred to as the "Monthly Basic Rent"), without any deduction or offset set forth below, except that a proportionately lesser sum may be paid for the first and without prior notice or demandlast months of the Term of this Lease if the Lease Term commences on a date other than the first day of the month, in lawful money accordance with the provisions of this Lease hereinafter set forth. The Monthly Basic Rent, and any Additional Rent, shall be payable at the office of the United States of AmericaLandlord, at the address indicated above set forth, or as may otherwise be directed by notice from the Landlord from time to timethe Tenant. Base Annual Monthly Months Basic Rent Basic Rent 1- 3 -- -- 4- 63 $297,815.04 $24,817.92 64-123 $349,932.72 $29,161.06 Notwithstanding anything contained herein to the contrary, the Tenant shall be increased entitled to an abatement of the first three (3) months of Monthly Basic Rent (but not of Additional Rent or any other sum payable by the Tenant under this Lease) so long as the Tenant shall fully and faithfully perform all of its obligations hereunder. If, however, the Tenant shall at any time be in default hereunder beyond any notice and cure period, the abatement provided for herein shall no longer be valid and the Tenant shall in addition to any other damages to which the Landlord shall be entitled to as a result of said default be obligated to reimburse the Landlord for the full amount of the aforesaid abatement. Section 3.3 The Tenant shall, and will, during the Term as provided for in the Basic Lease Information. Base Rentwell and truly pay, as so adjustedor cause to be paid, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant PartiesLandlord, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any Monthly Basic Rent as herein provided and all other sums that may become due and payable by reason of any default of the Tenant to the Landlord, hereunder, at the time and in the manner herein provided, without counterclaim, offset or failure to comply with deduction except as otherwise provided herein; and all other sums due and payable by the terms of this Lease to be performed by TenantTenant hereunder may, shall at the Landlord's option, be deemed additional rent (whichto be, collectively with Base and treated as, Additional Rent, and added to any Monthly Basic Rent due and payable by the Tenant hereunder, and, in the event of nonpayment of such other sums beyond any notice and cure period, the Landlord shall be deemed “Rent”).have all the rights and remedies herein provided for

Appears in 1 contract

Sources: Lease Agreement (Simmons Co /Ga/)

Rent. a. Tenant shall pay Landlord as rent for the Premises all Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first Additional Rent (1stdefined below) day of each calendar month thereafter(collectively, without any deduction "Rent") to Landlord or offset and Landlord's agent, without prior notice or demanddemand or any setoff or deduction, at the place Landlord may designate from time to time, in lawful money of the United States of AmericaAmerica that, at the address indicated by Landlord from time to timeof payment, is legal tender for the payment of all obligations. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. As used herein, "Additional Rent" means all amounts, other than Base Rent, as so adjustedthat Tenant is required to pay Landlord hereunder. Subject to Section 1.4 and Section 2.1.1 above, shall thereafter be due as provided herein. monthly payments of Base Rent adjustments and monthly payments of Additional Rent for any fractional Expenses (defined in Section 4.2.2), Taxes (defined in Section 4.2.3) and parking (collectively, "Monthly Rent") shall be paid in advance on or before the first day of each calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord during the Term; provided, however, that the installment of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first full calendar month for which Base Rent is payable hereunder and the installment of Additional Rent for Expenses and Taxes for the Tern. b. As set forth in more detail below, Landlord first full calendar month for which such Additional Rent is payable hereunder shall be responsiblepaid upon Tenant's execution and delivery hereof. Except as otherwise provided herein, without additional charge to Tenant, for the maintenance all other items of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s Additional Rent shall be paid within 30 days after Landlord's request for additional services payment. Rent for any partial calendar month shall be prorated based on the actual number of days in such month. Without limiting Landlord's other rights or damage to the Building remedies, (a) if any installment of Rent is not received by Tenant Landlord or any Tenant Partiesits designee within five (5) business days after its due date, Tenant shall pay Landlord a late charge equal to 5% of the entire cost thereof overdue amount; and (b) any Rent that is not paid within twenty 10 days after its due date shall bear interest, from its due date until paid, at the lesser of 12% per annum or the highest rate permitted by Law (20) days defined in Section 5). Tenant's covenant to pay Rent is independent of request by Landlord. All amounts required to be paid by Tenant under this Lease every other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)covenant herein.

Appears in 1 contract

Sources: Office Lease (Nutanix, Inc.)

Rent. a. Tenant (a) Within 30 days of the Commencement Date, Grantee shall pay Landlord to Grantor as rent Twelve Thousand, Five Hundred Dollars ($12,500.00) per year (Rent”) without notice or request from Grantor. Rent for the Premises Base first year shall be paid within 30 days of the Commencement Date. Rent for each month during subsequent years shall subsequently be due on or before the Termannual anniversary of the mutual execution of this Agreement. Such amounts Rent shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, to Grantor at the address indicated such places may be designated by Landlord Grantor from time to time. Base . (b) Rent shall be increased on each anniversary of the Commencement Date by an amount equal to three percent (3%) of the Rent payable during the Term as provided previous year. (c) Within ninety (90) days of the Commencement Date, Grantee shall pay Grantor a one-time payment of Six Thousand Seven Hundred Five and Fifty-six Hundredths Dollars ($6,705.56) (“One-time Payment”) for reimbursement of the City's administrative, legal, and appraisal fees incurred in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy review and preparation of this Lease, Tenant Agreement. This One-Time Payment shall deliver to Landlord the Base Rent for the first month of the Ternnot be refundable. b. As set forth in more detail below(d) Grantee acknowledges that late payment by Grantee of Rent or other sums due under this Agreement shall cause City to incur costs not contemplated by this Agreement, Landlord shall the exact amount of which would be responsible, without additional charge extremely difficult and impractical to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 belowascertain. Notwithstanding the foregoingTherefore, in the event Grantee shall fail to pay any installment of Tenant’s disproportionate Rent or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof other sums due within twenty (20) business days of request the due date, the City will issue to Grantee a written notice of such failure to pay, accompanied by Landlordan invoice applying a late charge equal to fifteen percent (15%) of the sum due. All amounts required Further, all delinquent sums payable by Grantee to City and not paid within ten (10) business days after their due date shall bear interest at the rate of twelve percent (12%) per annum, or the highest rate of interest allowable by law, whichever is less. Interest on all delinquent accounts shall be calculated from the expiration of the ten (10) business day cure period set forth above to the date of payment. A fifty-dollar ($50.00) charge will be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due Grantee to the City for each check returned “NSF” or otherwise rejected by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)City’s depositing institution for insufficient funds.

Appears in 1 contract

Sources: Renewal Right of Way Use Agreement

Rent. a. Tenant shall pay Landlord as The rent reserved under this Lease for the Premises term hereof shall be and consist of: A. Base Rent for as set forth on Exhibit "D" hereof, which shall be payable in advance, in equal monthly installments, without deduction or set-offs and without prior demand therefore, on the first day of each and every calendar month during the Term. Such amounts term of this Lease except that: (i) TENANT shall pay, upon execution and delivery of this Lease by TENANT, the sum of $13,333.50 together with $4,311.17 representing the first month's portion of the estimated share of expenses per section 14 of this Lease entitled "Additional Rent", plus applicable sales tax, to be applied against the first installment of Base Rent becoming due and payable under the lease. (ii) TENANT shall pay, on the Commencement Date Date, a prorated amount of Base Rent and Additional Rent for the Initial Partial Month. B. All taxes in the nature of sales, use, or similar taxes, now or hereinafter assessed or levied by any taxing authority upon the payment of fixed rent or Additional Rent as hereinafter defined, and which the LANDLORD is required or permitted to collect from TENANT, shall be payable simultaneously with the payment of Base Rent or Additional Rent. C. TENANT covenants and agrees to pay a late charge for any payment of Base Rent not received by LANDLORD on or before the first seventh (1st7th) day of each calendar month thereafterand for any other payment, such as Additional Rent, not received by LANDLORD on or before the date when same is due. Said late charge shall be computed from the first day of the month in the case of Rent and from the date when same is due in case of Additional Rent. The amount of the late charge shall be an amount equal to the interest commencing on the dates aforesaid, ending on the date of receipt of the sum(s) by LANDLORD and having a rate equal to eighteen percent (18%) per annum. In the event any late charge is due to LANDLORD, LANDLORD shall advise TENANT in writing and TENANT shall pay said late charge to LANDLORD not later than the date when the next payment of Rent is due. D. Additional Rent consisting of all such other sums of money as shall become due from and payable by TENANT to LANDLORD hereunder (for default in payment of which LANDLORD shall have the same remedies as for a default in payment of fixed rent); all to be paid to LANDLORD without any deduction demand, deduction, or offset and without prior set off at its office, or such agent or such other place as LANDLORD may designate by notice or demandto TENANT, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent and Additional Rent shall be increased during the Term as provided for in the Basic Lease Informationmade payable to: McCo▇ ▇▇▇lty Group 4175 ▇. Base Rent▇▇▇ ▇▇▇▇▇, as so adjusted▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).▇▇ ▇▇▇▇▇

Appears in 1 contract

Sources: Lease Agreement (Jabil Circuit Inc)

Rent. a. 3.1 Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts , except that the first full month’s rent shall be due 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 and payable without notice or demand, at the Rent Payment Address, as set forth on the Commencement Date Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and on sums payable by Tenant to Landlord pursuant to this Lease shall be deemed “additional rent”. 3.1.1 Notwithstanding the foregoing, provided that there shall not exist any Event of Default, and subject to the provisions of Section 19.3 below, the Monthly Installment of Annual Rent due for the first (1st) day of each full calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of following the United States of America, at the address indicated by Landlord from time to time. Base Rent Commencement Date shall be increased during the Term as provided for abated. Nothing in the Basic Lease Information. Base Rentthis Section 3.1.1, as so adjustedhowever, shall thereafter be interpreted to except or excuse Tenant from any additional rent or other amounts due as provided hereinunder this Lease or the Prior Lease to 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. Base Rent adjustments for Tenant therefore agrees that if rent or any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery other sum is not paid when due and payable pursuant to Landlord of an executed copy of this Lease, Tenant a late charge shall deliver be imposed in an amount equal to Landlord the Base Rent for the first month greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance unpaid rent or other payment. The amount of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required late charge to be paid by Tenant under shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other than Base Rentpayment is unpaid after date due. 3.3 Notwithstanding anything to the contrary contained herein, including any and if the Commencement Month is not a full calendar month, such Commencement Month shall be deemed for all other sums that may become due by reason of any default of Tenant or failure to comply with the terms purposes of this Lease to be performed by Tenant, part of the First Lease Year and Tenant shall be deemed pay additional rent (which, collectively with Base Rent, shall be deemed “Rent”)Annual Rent for such Commencement Month calculated on a per diem basis at the Annual Rental Rate for the First Lease Year.

Appears in 1 contract

Sources: Lease Agreement (Talk America Holdings Inc)

Rent. a. Tenant Rent, including, without limitation, fixed rent, prepaid rent, additional rent and percentage rent, if applicable, and expenses shall be apportioned as of the Closing Date. Rent which is due and payable as of the Closing Date, but which has not then been collected, shall not be apportioned at Closing. With respect to any rent arrearages arising under the Existing Leases for the period prior to the Closing Date, Buyer shall pay Landlord to Seller any rent or payment actually collected after Closing as provided in the following sentence. All rent under the Existing Leases collected by Buyer after Closing shall be applied first to the rent for the Premises Base Rent for month in which the Closing shall occur, then to rent accruing after the month in which the Closing shall occur and then to rent accruing prior to the month in which the Closing shall occur. During the twelve (12) month period following Closing, Buyer shall use good faith commercially reasonable efforts to recover any rent (or other tenant charge) arrearages in respect of the period prior to the Closing Date, provided that Buyer shall not be required to threaten eviction, litigation or termination of the lease, incur any material cost or commence any legal proceeding in connection therewith. Buyer shall indicate all rent arrearages applicable to periods prior to the Closing Date on Buyer’s rent invoices to each month during the Termtenant and shall not compromise or settle any such rent arrearages without Seller’s prior written consent. Such amounts Seller (upon notification to Buyer) shall be due and payable on entitled to s▇▇ a tenant, before and/or after Closing (provided however with respect to any period after Closing, Seller shall not commence any such suit for a period of six (6) months after the Commencement Date and on the first (1st) day of each calendar month thereafterClosing Date), without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery delinquent rent (or other tenant charges) due to Landlord of Seller (and not previously paid to Seller) under an executed copy of this Existing Lease, Tenant shall deliver to Landlord the Base Rent for the first month so long as such suit does not seek a termination of the Ternsuch Existing Lease or eviction of such tenant. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 1 contract

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

Rent. a. Tenant shall pay covenants and agrees to pay, without demand and without any offset or deduction whatsoever, and Landlord agrees to accept as rent for the Premises Base Rent for Premises, the amount of Six Thousand Eighty Dollars and No Cents ($6,080.00) or Five Hundred Six Dollars and Sixty-Seven Cents ($506.67) per month payable in advance on the first day of each calendar month during the Termterm of this Lease. Such amounts Rent shall be prorated for any initial or final fractional months of any Initial or Renewal Term of this Lease. Prorated rent due for any initial fractional month of the Lease shall be due on the date this Lease is executed. Landlord reserves the right, but shall not be obligated, to perform, or to pay for the performance of, any act required of Tenant hereunder or the cure of any default hereunder which is not performed by Tenant within any applicable grace period. Any sums so expended by Landlord shall be due and payable on the Commencement Date by ▇▇▇▇▇▇ immediately upon written demand. Any such sums, along with any other monetary obligations of Tenant hereunder, and on the first (1st) day of each calendar month thereafter, without any deduction or offset other sums so designated herein shall be considered “Additional Rent.” All such rent and without prior notice or demand, Additional Rent shall be payable and paid in lawful money of the United States of America, without relief from valuation or appraisement laws. All rent, Additional Rent and any other monetary obligations of Tenant hereunder which remain unpaid after written notice thereof from Landlord, shall bear interest at the address indicated by Landlord from time rate of eight percent (8%) per annum. Tenant shall pay Landlord’s reasonable attorneys’ fees for collection of the same. In addition to time. Base interest, if Tenant fails to pay any rent or Additional Rent shall be increased during within ten (10) days after the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be same becomes due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Leaseand payable, Tenant shall deliver to pay a late payment service charge of $50.00 for each full or partial calendar month that any such amount remains unpaid. At the end of each calendar year, Landlord shall determine the Base Rent for the first month amount of the Tern. b. As set forth aggregate percentage increase, during such calendar year, in more detail belowthe per unit costs of the heat, electricity, gas, water, sewage, or any other utilities or utility services to the Old Vanderburgh County Courthouse. Effective at the beginning of the subsequent calendar year, Landlord shall be responsible, without additional charge entitled to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, an increase in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12)rent due hereunder during such calendar year, Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, which increase shall be deemed additional rent (whichbased upon such aggregate percentage increase in utility costs, collectively with Base Rentif any, shall be deemed “Rent”)during the preceding year.

Appears in 1 contract

Sources: Lease Agreement

Rent. a. All collected rent (excluding Tenant shall pay Landlord as rent reimbursements for Operating Costs, which is the Premises Base Rent subject of Section 6.1(b) and excluding Tenant reimbursements, payments or escrow accounts for each month during above­ standard Tenant Improvements or similar costs related to Tenant change order requests after the Term. Such amounts approval of the Final Plans, all of which shall be due payable from Tenant to Seller) and payable other collected income (and any applicable state or local tax on rent) under the Lease in effect on the Commencement Closing Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money shall be prorated as of the United States of America, at the address indicated by Landlord from time to timeClosing. Base Rent Seller shall be increased during the Term as provided for in the Basic Lease Informationcharged with any rent and other income collected by Seller before Closing but applicable to any period of time after Closing. Base Rent, as so adjusted, Uncollected rent and other income shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall not be prorated. Concurrently with Tenant’s delivery Any prepaid rents for the period following the Closing Date shall be paid over by Seller to Landlord of an executed copy of this Lease, Tenant shall Buyer. Buyer covenants and agrees to use its commercially reasonable efforts after the Closing to collect and deliver to Landlord Seller all rents or other payments that were applicable to the Base Rent period before Closing. All rents received by Buyer following the Closing shall be applied against the most recently accrued rent. Except with respect to amounts delivered into the Punch List Escrow or Tenant Escrow, Buyer shall receive a credit against the Purchase Price for any outstanding tenant improvement allowances, other allowance under the first month Lease (including discretionary allowances), leasing commissions (if any), free rent (if any), abatement periods (if any) or Liquidated Damage Amounts related to delays in construction, all of which relate to the Lease and only to the extent any of the Tern. b. As set forth in more detail below, Landlord foregoing remain unpaid as of the Closing Date. Seller shall also cause to be responsible, without additional charge paid to Tenant, for the maintenance of the Common Areasat Closing, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not any Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage 's Contingent Payment due to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)Lease.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Griffin Capital Essential Asset REIT II, Inc.)

Rent. a. Tenant ▇. ▇▇▇▇▇▇ shall pay Landlord to the Lessor as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and term hereof the sum of ($ ) per month, payable on the Commencement Date and monthly, in advance, beginning on the first (1st) day of , 20 , and on the first day of each calendar and every month thereafter, without any deduction or offset and without prior notice or demand, in lawful money thereafter at the office of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels Lessor set forth in Section 12)7.9, Tenantor at such other place as the Lessor may designate in writing. Failure to pay rent by the tenth (10th) day of the month shall obligate the Lessee to pay a late charge of ONE HUNDRED DOLLARS ($100.00) for each late payment. This sum is agreed to be a reasonable estimate of the Lessor's damages for late rental payments and shall not be construed as a penalty or a limitation on ▇▇▇▇▇▇'s remedies. B. All rent shall be payable in current legal tender of the United States. Payment may be tendered by check, but payment shall not be deemed made until such check is honored by the drawee bank. The tender of payment by check within the time provided shall be deemed sufficient to meet any due date only if the check is honored by the drawee bank and Lessor receives the legal tender required by this Lease. Any dishonor and/or non-receipt shall constitute a default of this Lease. C. The extension of time for the payment of any installment of rent, or the acceptance by ▇▇▇▇▇▇ of any money other than of the kind herein specified, shall not be a waiver of Lessor’s request for additional services right to insist on all other payments of rent to be made in the manner and at the time herein specified. The acceptance by the Lessor of a past due installment payment shall not waive Lessor's right as to any other default or damage breach of the Lease. D. The rent herein specified shall be net to the Building by Tenant Lessor and such payment shall not be subject to any abatement, deduction or any Tenant Partiesoffset, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. except as otherwise provided in this Lease. E. All amounts taxes, charges, costs and expenses Lessee is required to be paid by Tenant under this Lease other than Base Rentpay hereunder, including any and all other sums that damages, costs and expenses Lessor may become due incur by reason of any default of Tenant the Lessee, or failure on the Lessee's part to comply with the terms of this Lease to be performed by Tenantthe Lease, shall be deemed additional rent (whichand, collectively in the event of nonpayment by ▇▇▇▇▇▇, Lessor shall have all the rights and remedies with Base Rent, shall be deemed “Rent”)respect thereto as Lessor has for nonpayment of basic rent.

Appears in 1 contract

Sources: Lease Agreement

Rent. a. 4.01 Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Subject to Exhibit B, 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 under applicable Law. Commencing on the Commencement Date, Base Rent for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money provided that the installment of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first full calendar month of the Tern. b. As set forth in more detail belowTerm shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be responsible, without additional charge made by good and sufficient check or by other means reasonably acceptable to Tenant, for the maintenance Landlord. If Tenant fails to pay any item or installment of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises Rent within five (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties5) Business Days following written notice that such amount is past due, Tenant shall pay Landlord an administration fee equal to 3% of all past due Rent. In addition, all monetary amounts past due from Landlord to Tenant and Tenant to Landlord, including, without limitation, past due Rent shall accrue interest at a rate per annum (the entire cost thereof within twenty “Interest Rate”) equal to the lesser of (20i) days the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication G.13(415), published on the first Tuesday of request by Landlord. All amounts required each calendar month (or such other comparable index as Landlord and Tenant shall reasonably agree upon if such rate ceases to be paid published) plus two (2) percentage points, and (ii) the highest rate permitted by Tenant applicable Law. 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 shall be prorated based on the number of days in such calendar month. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s payment of any amounts under this Lease shall not constitute a waiver by Tenant of Tenant’s right to later object to such payment. Except as otherwise expressly provided herein, Tenant’s covenant to pay Rent is independent of every other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of covenant in this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)Lease.

Appears in 1 contract

Sources: Office Lease Agreement (Boingo Wireless Inc)

Rent. a. (a) During the Lease Term, Tenant shall agrees to pay to Landlord as rent for the Premises Base Rent an annual rental for each month during Lease Year in the Term. Such amounts 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 being hereinafter called "Annual Base Rental"): Location of Space Number of Square Feet Rental 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, without demand, deduction or offset in equal monthly installments of $7,683.55 which are due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafterduring the Lease Term. Such payments shall be made to Landlord at its principal offices as set forth in the Notice section hereof, without any deduction or offset and without prior notice to such other place or demand, in lawful money of the United States of America, at the address indicated by places as Landlord may from time to timetime designate in writing to Tenant. Base Rent If the Lease Term shall begin or terminate on any day except the first day of the month, a pro-rated monthly rental, based upon a thirty (30) day month, shall be increased during paid for that portion of the Term month that falls within the Lease Term. As to both the Premises and the Building, the respective measurements of floor area as provided computed in accordance with the American National Standard Z65.1 – 1996 Method for Measuring Floor Space in the Basic Lease Information. Base RentOffice Buildings, approved July, 1996, as so 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) The Annual Base Rental, as the same may hereafter be adjusted, shall thereafter be payable promptly when due as provided herein. Base Rent adjustments without notice or demand therefor and without any abatement, deduction or set-off for any fractional calendar month shall reason whatsoever, except as may be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of expressly provided in this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 1 contract

Sources: Lease Agreement

Rent. a. Tenant The rents shall pay Landlord as rent for the Premises be and consist of a Base Rent for (herein called ---- "Base Rent") and Additional Rent (herein called "Additional Rent"). For purposes of this Lease, Base Rent and Additional Rent are referred to collectively as "Rent." Base Rent shall be the amount indicated in the Basic Lease Information. Base Rent shall be payable in equal monthly installments in advance on the first day of each and every calendar month during the Termterm of this Lease (except to the extent otherwise specifically provided elsewhere in this Lease and except that Tenant shall pay, upon the execution and delivery of this Lease by ▇▇▇▇▇▇, the sum indicated in the Basic Lease Information, to be applied against the first installment(s) of Base Rent becoming due under this Lease). Such amounts Additional Rent shall consist of all other sums of money as shall become due from and payable by Tenant to Landlord under this Lease. All Rent shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, paid in lawful money of the United States of AmericaAmerica to Landlord at its office or such other place, at as Landlord shall designate by notice to Tenant. Tenant shall pay the address indicated by Landlord from time to time. Base Rent shall be increased during and Additional Rent promptly when due without notice or demand and without any abatement, deduction or offset for any reason whatsoever, except as expressly provided in this Lease. If the Term as provided for in Commencement Date occurs on a day other than the Basic Lease Information. Base Rentfirst day of a calendar month, as so adjusted, shall thereafter be due as provided herein. the Base Rent adjustments for any fractional that partial calendar month shall be proratedprorated on a daily basis. Concurrently with Tenant’s delivery to Landlord If the Basic Lease Information provides for the abatement of an executed copy Base Rent for any specified periods of this Leasetime during the term of the Lease ("Rent Free Period(s)"), Tenant shall deliver to Landlord none of the Base Rent for specified in this Lease as payable during the first month Lease Term shall be allocable to any such Rent Free Period(s). In the event of the Tern. b. As set forth in more detail belowany default by Tenant, Landlord shall be responsible, without additional charge have the right to Tenant, collect Rent for the maintenance of Premises from Tenant for all Rent Free Period(s) at the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described same Base Rent in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or effect immediately after any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”such Rent Free Period(s).

Appears in 1 contract

Sources: Lease Agreement (Colorado Business Bankshares Inc)

Rent. a. Tenant shall pay to Landlord the Base Rent, Real Property Taxes (as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due herein defined) and payable on the Commencement Date and Operating Expenses (as herein defined), without notice, demand, offset or deduction (except as expressly provided herein), in advance, on the first (1st) day of each calendar month thereafter, without any deduction or offset month. All Rent and without prior notice or demand, payments required to be paid by Tenant to Landlord shall be made by Tenant payable to the entity and sent to the address Landlord designates and shall be made by good and sufficient check payable in lawful money of the United States of America, at the address indicated America currency or by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery other means acceptable to Landlord or by Electronic Fund Transfer of an executed copy immediately available federal funds before 11:00 a.m. Eastern Time. Upon the execution of this Lease, Tenant shall deliver pay to Landlord the first full calendar month’s Base Rent for and the first full calendar month’s installment of estimated Operating Expenses. If the Term commences on a date other than the first day of a month, Base Rent shall be prorated on the basis of a thirty (30) day month (and such prorated amount shall be paid within three (3) days of the Tern. b. As set forth in more detail below, Landlord Commencement Date). All sums other than Base Rent which Tenant is obligated to pay under this Lease shall be responsible, without deemed to be additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises rent due hereunder (but not Tenant’s specialized equipment“Additional Rent”), insurance whether or not such sums are designated Additional Rent. The term “Rent” means the Base Rent and all Additional Rent payable hereunder. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or Additional Rent for more than five (5) days, Tenant shall pay to Landlord on demand a late charge equal to [***] of such delinquent sum and such delinquent sum shall also bear interest from the Project, real estate taxes for date such amount was due until paid in full at the Project, and utilities and janitorial service as described in Section 12 belowlesser of (i) [***] per annum; or (ii) at the maximum rate permitted by law (“Applicable Interest Rate”). Notwithstanding the foregoing, before assessing a late charge the first time in any calendar year, Landlord shall provide Tenant written notice of the event of Tenant’s disproportionate or after-hours use of utilities delinquency and will waive the right if Tenant pays such delinquency within five (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (205) days of request by Landlordthereafter. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, The provision for such late charge shall be deemed additional rent (which, collectively with Base Rent, in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not be deemed “Rent”)construed as a penalty.

Appears in 1 contract

Sources: Single Tenant Industrial Triple Net Lease (GenMark Diagnostics, Inc.)

Rent. a. 4.1 Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “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 for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money provided that the installment of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first full calendar month of the Tern. b. As Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable on or before March 1, 2007. Unless otherwise specifically set forth in more detail belowherein, Landlord all other items of Rent shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project due and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building payable by Tenant on or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty before thirty (2030) days of request after billing by Landlord. All amounts required Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. In addition, past due Rent shall accrue interest at 12% per annum (i) for the first late payment in any calendar year, from the date that is five (5) days after notice that the some is due until actually paid by Tenant under and (ii) for the second and all subsequent late payments in any calendar year, from the due date until actually paid. 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 shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease other than Base Rent, including any and all other sums that but may become due by reason of any default of Tenant or failure be abated to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)extent expressly permitted hereunder.

Appears in 1 contract

Sources: Office Lease Agreement (Gomez Inc)

Rent. a. Tenant shall pay Landlord as rent Total RENT due for the Premises Base Rent TERM is: $ RENT will be due in 12 equal installments of $ per month. There are no prorated RENT amounts under this LEASE (without limiting the foregoing, it is expressly agreed that the monthly installment of RENT due from TENANT for the initial partial calendar month of the TERM shall be a full monthly installment). The first RENT installment is due on July 1st – prior to the commencement of the TERM. All subsequent installments of RENT must be paid on or before the first day of each and every calendar month during the TermTERM from September to July. Such amounts shall be due and payable on the Commencement Date and on If TENANT does not pay the first (RENT installment on or before July 1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of Americathen, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base RentLANDLORD’s option, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent all RENT for the first month of the Tern. b. As set forth in more detail below, Landlord shall entire TERM may be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project automatically accelerated and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenantsuch acceleration RENT for the entire TERM shall be immediately due and payable in full by TENANT. If TENANT does not pay any subsequent installment of RENT on or before the first day of the applicable calendar month, all RENT for the entire remaining balance of the TERM, at LANDLORD’s disproportionate or after-hours use option, may be accelerated and in the event of utilities (beyond such acceleration RENT for the hours or levels set forth entire remaining balance of the TERM shall be immediately due and payable in Section 12), Tenant’s request for additional services or damage full by TENANT. In addition to the Building by Tenant or foregoing RENT, TENANT must also pay additional charges as identified in this LEASE as and when due. Simultaneously with the payment of any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts sums required to be paid by Tenant under this Lease other than Base RentLEASE as RENT or otherwise, including TENANT agrees to pay LANDLORD a sum equal to any and all excise taxes, transaction privilege taxes, license taxes, sales taxes, rental taxes, use taxes, and any other similar taxes imposed by the State of Arizona, any other state, any political subdivision of any state, and any other governmental agency, upon the RENT and other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed paid by TenantTENANT hereunder. Pursuant to A.R.S. § 33-1314(E), LANDLORD may adjust the rental taxes payable by TENANT with 30 days’ notice if the same are changed by the applicable municipality or other taxing authority during the TERM. LANDLORD may, at LANDLORD’s option, require at any time that TENANT pay all RENT and other sums in cash, certified or cashier’s check, money order, credit card, or one monthly check rather than multiple checks. If TENANT does not pay all RENT on or before the 3rd day of the month, TENANT shall be deemed additional rent (whichimmediately pay an initial late charge of $55 plus a late charge of $10 per day after that date until the entire outstanding balance is paid in full. On the beginning of the fourth day of the month, collectively with Base RentLANDLORD will impose nonrefundable late fees in the above amounts, shall be deemed “Rent”)provided that daily late charges will not exceed 15 days for any single month’s RENT.

Appears in 1 contract

Sources: Residential Lease Agreement

Rent. a. Tenant Tenant's liability for rent shall pay Landlord commence to accrue on the commencement date as defined in paragraph 2.b above, provided that this lease has not been terminated prior thereto. If the rent commencement date begins on a date other than the first of the month, the rent for the Premises Base Rent for each such partial initial month during the Term. Such amounts shall be prorated and shall be due and payable on the Commencement Date and first day of the first full calendar month of the term hereof. The annual minimum rent to be paid by Tenant to Landlord shall be Four Hundred Eighty Thousand Dollars ($480,000.00) plus applicable sales taxes. Such rental shall be payable in equal monthly installments on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, during the term hereof. b. All payments of rent hereunder shall be made to Landlord as the same become due in lawful money of the United States of AmericaStates, at such places as hereinafter may be designated. Nothing contained in this lease shall be construed to be or create a partnership or joint venture between Landlord and Tenant. c. In addition to the address indicated payments required herein as rent to the Landlord, the Tenant shall also pay the following: (1) All occupational licenses and other licenses necessary in the operation of the business to be carried on in the Demised Premises. (2) All utility services provided to the Demised Premises and used by Landlord Tenant, including, but not limited to, water, gas, electric, and telephone, as they from time to timetime shall accrue and be due and payable during the term of this lease. (3) Tenant shall pay to the appropriate governmental agencies ad valorem taxes with respect to the Demised Premises and the improvements thereon during the term of this lease or any extension thereof. Base Rent It is further understood and agreed that all ad valorem taxes assessed during the first and last years of the term of this lease shall be increased prorated and that Tenant shall only be liable for such portions of such taxes assessed for said first and last years as its months of occupancy during any of said years shall bear to the total of twelve (12) months. Should Tenant fail to pay any tax when due and payable, Landlord may, if Landlord so desires, pay the same and the amount together with any penalties which Landlord may have paid, shall immediately become due and payable to Landlord as additional rent. Tenant shall have the right in its name or in Landlord's name, whichever shall be appropriate, but at its own cost and expense, to file and prosecute applications for reduction of assessed valuation and to institute legal proceedings for the reduction thereof. In no event shall Tenant be liable for payment of any income, estate or inheritance taxes imposed upon the Landlord or the estate of the Landlord with respect to the Demised Premises. Landlord agrees to promptly deliver copies of all tax notices and tax bills to the Tenant so that Tenant may timely contest any proposed tax increase and promptly pay the tax due as to take advantage of any discounts allowed for timely payment. In the event of any special assessment with respect to the Demised Premises levied during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy term of this Lease, the Tenant shall deliver have no obligation with respect to Landlord the Base Rent for the first month payment of the Tern. b. As set forth in more detail below, such assessment and Landlord shall be responsibleobligated to pay same. Landlord shall use reasonable efforts, without additional charge to if requested by Tenant, to obtain from the taxing authorities a separate assessment for the maintenance Demised Premises if said premises are part of a larger parcel. If such separate assessment shall be obtained, the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for payable by Tenant shall be paid by Tenant directly to the Projecttaxing authority. If Landlord shall be unable to obtain such separate assessment, and utilities and janitorial service as described the tax ▇▇▇▇ covering the Demised Premises shall include property in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage addition to the Building by Tenant or any Tenant PartiesDemised Premises, Tenant shall pay its proportionate share of said tax ▇▇▇▇ to Landlord, which proportionate share shall equal the entire cost thereof product obtained by multiplying the amount of the tax ▇▇▇▇ by a fraction, the numerator of which is the acreage contained within twenty the Demised Premises and the denominator of which is the total land owned by the Landlord and assessed in the tax ▇▇▇▇. Tenant shall pay its share by the later of (20i) thirty (30) days after Landlord notifies Tenant of request the amount thereof and furnishes Tenant with a copy of the tax ▇▇▇▇ and the calculations by Landlordwhich Tenant's share has been determined, or (ii) ten (10) days prior to the due date of the tax. All amounts required to Landlord shall pay said tax ▇▇▇▇ when due. In no event shall Tenant be paid by liable for interest or penalties, if Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason shall pay such taxes within such period. Landlord will furnish Tenant with a copy of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)receipted tax ▇▇▇▇ promptly after demand therefor.

Appears in 1 contract

Sources: Lease Agreement (First Team Automotive Corp)

Rent. a. Tenant shall The TENANT hereby agrees to pay Landlord the LANDLORD as rent for the Premises Base demised premises a monthly rent of <<Monthly Rent>> on the first day of each and every month throughout the term of this Rental contract, for a total of <<Total Rent for each month during Lease Term>>, which includes any prorated rent for the Termfirst month. Such amounts Should tenancy commence on a day other than the first (1st) of the month, the first month’s rent shall be prorated or adjusted between the parties hereto so that all additional rental payments shall become due and payable on the Commencement Date and on the first (1st) day of each calendar month. Rent payments are due on the first day of each month thereafter, without any deduction or offset for any reason, including assertions of LANDLORD’s failure to comply with lease terms. The monthly rental payments will be made electronically to Broadmoor Bluffs Realty’s account on the first business day of each month. RENTS WILL NOT BE PRORATED ON THE LAST MONTH OF TENANCY. TENANT WILL PAY THE FULL MONTH'S RENT FOR THE LAST MONTH. Any amounts due from the Tenant shall bear interest at the rate of 18% per annum. A. TENANT must sign up for recurring electronic (Autopay) rent payment. Rent will be deducted from TENANT’s account on the first business day of each month. Rents are due on the first (1st) by 11:59pm, and without prior are late after this. Rents not received by the PROPERTY MANAGER by 11:59pm MST on the eight (8th) calendar day will be assessed late fees (this includes a non-sufficient funds notice or demand, in lawful money which causes the rent to be late). TENANT agrees to pay a late fee charge of five percent (5%) of the United States monthly rent past due. In emergencies, TENANT may pay by credit card (TENANT will incur credit card fees) or take cash to a local 7-Eleven or CVS with a form from the PROPERTY MANAGER (TENANT will incur fee for this service also). B. Monies received from tenants will first be applied to any previously unpaid rent, prior to being applied to current rent. C. A non-sufficient fund fee of America, at the address indicated by Landlord from time to time. Base Rent fifty dollars ($50.00) shall be increased during assessed to the Term as provided TENANT for in each returned electronic payment, check, bank draft, money-order, and non-sufficient funds notice. D. A 10-day notice to pay rent and all fees will be delivered on the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month 9th of the Ternmonth. TENANT will be charged a fee for delivery. If TENANT has not paid within the 10-day time period, Broadmoor Bluffs Realty will begin the eviction process. b. As set forth in more detail below, Landlord shall E. TENANT should expect a rent rate increase to market value when renewing this rental contract. F. LANDLORD cannot guarantee that the property will be responsible, without additional charge available to Tenant, for TENANT on the maintenance of lease start date. If the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service existing tenant fails to vacate as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services agreed or damage to the Building property, beyond LANDLORD'S control occurs, LANDLORD will take all appropriate steps to try to make the property available as quickly as possible. TENANT, under these circumstances, has the right to terminate the lease by Tenant giving notice to LANDLORD, but LANDLORD will not be liable for TENANT'S moving, living, storage or any Tenant Partiesother expenses incurred because the property is not available. Rent, Tenant shall as set out above, will be adjusted on a daily prorated basis for the time the property is not available. G. TENANT may NEVER withhold rent, use rent as a set off to make repairs, or at any time fail to pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease anything other than Base Rentthe full rental amount due, including any and all other sums that may become due by reason regardless of any default breach or alleged breach of Tenant this lease by LANDLORD, except upon compliance with C.R.S. ▇▇-▇▇-▇▇▇ et seq. or failure HB19-1170. H. It shall be a violation of this lease for TENANT to comply interfere with the terms of this Lease LANDLORD, PROPERTY MANAGER, or contractors to use rude, foul-mouthed, threatening, abusive and or insulting language when dealing with the LANDLORD PROPERTY MANAGER or contractors. TENANT will be performed by Tenantprovided one warning that such behavior is not acceptable and will not be tolerated. If the behavior persists, TENANT will be served with a 10 day demand and shall be deemed additional rent (whichsubject to eviction, collectively with Base Rentand thereafter, all communications will be in writing and TENANT will not be allowed to enter PROPERTY MANAGER'S office, and TENANT will be considered a trespasser. I. TENANT shall be responsible for and shall repair all glass breakage caused by tenant or tenant's guest. J. TENANT acknowledges that he has received the property in a clean and orderly condition and under no circumstance shall dirt or cleaning be deemed “Rent”)normal wear and tear. TENANT shall be responsible for and shall leave the property in a clean and orderly condition.

Appears in 1 contract

Sources: Rental Contract

Rent. a. Tenant shall pay to Landlord or to any other Person designated in writing to Tenant by Landlord (including any payments on behalf of and as agent for the Landlord as rent for directed in writing by the Premises Base Rent for each month during the Term. Such Landlord, all of which amounts shall be due deemed to be paid to Landlord), by wire transfer of immediately available federal funds or by other means acceptable to Landlord, acting reasonably, in lawful money of Canada which shall be legal tender for the payment of public and payable private debts, without offset, abatement, demand or deduction, Rent during the Term of this Lease as follows: A. Tenant shall pay to Landlord monthly Minimum Rent in advance equal to one-twelfth (1/12th) of the annual amount of Minimum Rent applicable for a Lease Year beginning on the Commencement Date and continuing on the first (1st) day of each calendar month thereafter; provided, without any deduction or offset and without prior notice or demandhowever, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base that Minimum Rent shall be increased prorated as to any Lease Year which is less than twelve (12) calendar months and as to any partial calendar months, and Additional Minimum Rent shall be prorated to the extent that a Landlord Expenditure is made on a date other than the first day of a Lease Year or the first day of a calendar month. B. Tenant shall pay to Landlord percentage rent (“Percentage Rent”) calculated for each Fiscal Year in accordance with Schedule 3.1B. Percentage Rent shall be payable annually in arrears no later than forty five (45) days following the end of each Fiscal Year during the Term as provided for in the Basic Lease Informationhereof. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord a Certificate from a senior officer of Tenant (an “Officer’s Certificate”) with each Percentage Rent payment (or, if no Percentage Rent is then payable, on the Base due date therefore) setting forth the calculation of the Percentage Rent payment for the first month of the Tern. b. As set forth in more detail below, Landlord most recently completed Fiscal Year. Percentage Rent shall be responsiblesubject to confirmation and adjustment, without additional charge to Tenantif applicable, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)3.2.

Appears in 1 contract

Sources: Sub Permit and Lease Agreement (CNL Lifestyle Properties Inc)

Rent. a. 3.1. Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts , except that the first full month’s rent shall be due 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 and payable without notice or demand, at the Rent Payment Address, as set forth on the Commencement Date Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If a monetary Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and on sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent. 3.1.1. Notwithstanding the foregoing, provided that there shall not exist any Event of Default, and no event exists which by notice and/or the passage of time would constitute an Event of Default if not cured within the applicable cure period provided under this Lease, and subject to the provisions of Section 19.3 below, the Monthly Installments of Annual Rent due for the first (1st) day of each full calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of following the United States of America, at the address indicated by Landlord from time to time. Base Rent Commencement Date shall be increased during the Term as provided for abated. Nothing in the Basic Lease Information. Base Rentthis Section 3.1.1, as so adjustedhowever, shall thereafter be interpreted to except or excuse Tenant from any Additional Rent or other amounts due as provided hereinunder this Lease to Landlord. 3.2. Base Rent adjustments for Tenant recognizes that late payment of any fractional calendar month shall be proratedrent 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. Concurrently with Tenant’s delivery Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to Landlord of an executed copy of this Lease, Tenant a late charge shall deliver be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment; provided, however, Landlord the Base Rent for agrees to waive and forgive the first month (1st) of any such late charges during the Term, provided that Landlord receives such overdue rent or other sum within five (5) days after the date due. The amount of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional late charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other than Base Rentpayment is unpaid after date due. 3.3. Notwithstanding anything to the contrary contained herein, including any and if the Commencement Month is not a full calendar month, such Commencement Month shall be deemed for all other sums that may become due by reason of any default of Tenant or failure to comply with the terms purposes of this Lease to be performed by Tenant, part of the First Lease Year and Tenant shall be deemed pay additional rent (which, collectively with Base Rent, shall be deemed “Rent”)Annual Rent for such Commencement Month calculated on a per diem basis at the Annual Rental Rate for the First Lease Year.

Appears in 1 contract

Sources: Lease Agreement (NitroSecurity, Inc.)

Rent. a. Tenant Rent during the Early Possession Period shall be a non-refundable, flat fee of $5,000 for the entire Early Possession Period, payable upon execution hereof, and during such time Subtenant shall not be liable for any Additional Rent, provided, however, that Subtenant shall pay Landlord for all gas and electrical services during such period. From the Commencement Date until the Rent Commencement Date, as rent for the Premises defined herein, no Base Rent for each month during the Term. Such amounts shall be due but Subtenant shall be subject to all of the provisions of this Sublease and shall perform all covenants contained herein, including payment of all Additional Rent. The rent commencement date (“Rent Commencement Date”) shall be the earlier of (A) the 61st day following the Regulatory Date, or (B) April 1, 2000. From the Rent Commencement Date until the end of the Term, Base Rent shall be $6,000 per month, payable monthly in advance, the first of such payments payable on the Rent Commencement Date Date. In addition to the Base Rent, Subtenant shall pay as additional rent all sums payable under Sections 5 and on 13 of the first Master Lease (1st) day “Additional Rent” and together with the Base Rent, the “Rent”). If the Landlord under the Master Lease requires payments under Sections 5 and 13 of each the Master Lease to be made into an impound account as provided in Section 42 of the Master Lease, Subtenant shall make such payments at the times and in the manner required by such Section 42. The Rent payable for any portion of a calendar month thereafter, shall be a pro rata portion of the Rent payable for a full calendar month. Such Rent shall be paid without any deduction or offset and without prior notice or demandoffset, in lawful money of the United States of America, America to Sublandlord at the Sublandlord’s address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12)14 hereof, Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease at such other than Base Rent, including any and all other sums that place as Sublandlord may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)designate in writing.

Appears in 1 contract

Sources: Sublease (1st Pacific Bancorp)

Rent. a. Tenant shall agrees and covenants to pay Landlord as an annual fixed rent for in the Premises amount of $96,000.00 per year (“Base Rent for each month during the Term. Such amounts shall be due and payable Rent”), commencing on the Commencement Date and Date. Base Rent shall be payable in advance, without demand, on the first (1st) day of each calendar month thereafterin equal monthly installments of $8,000.00 and shall not be increased, without any deduction abated or offset diminished except as set forth herein. Beginning on January 1, 2026 and without prior notice or demandeach January 1 of each year thereafter during the Term, in lawful money the amount of Base Rent which shall be paid during each calendar year shall be increased above the United States preceding year’s Base Rent by 1.5%. If the Commencement Date is not the first day of Americaa calendar month, at the address indicated by Landlord from time to time. first month’s Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rentprorated, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month and shall be proratedpayable on the Commencement Date. Concurrently with Tenant’s delivery to Landlord of an executed copy of this LeaseIn addition, Tenant shall deliver to Landlord the Base Rent for the first full month of the TernTerm shall be payable on the Commencement Date. Tenant shall also pay to Landlord such “Additional Rent” as described in Article 12 hereof. The Base Rent and the Additional Rent are hereinafter collectively referred to as the “Rent. b. As set forth ” In the event that Tenant fails to make any payment of Rent within five (5) days after the same becomes due, then in more detail belowaddition to all rights, powers and remedies provided herein, by law or otherwise in the case of nonpayment of Rent, Landlord shall be responsibleentitled to recover from Tenant and ▇▇▇▇▇▇ agrees to pay to Landlord, on demand, a late payment charge equal to $250.00. This is a net lease and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction or defense and, except as otherwise expressly provided herein, without additional charge to Tenant, for abatement or suspension. It is the maintenance intention of the Common Areasparties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, exterior areas of that the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant Rent shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required continue to be paid by payable in all events and that the obligations of Tenant hereunder shall continue unaffected, except as otherwise expressly provided herein. It is the purpose and intent of Landlord and Tenant that the Rent payable under this Lease other than be absolutely net to Landlord, such that this Lease shall yield (on an absolute net basis) the Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms Rent specified in this Lease for each year of this Lease to be performed by Tenant(prorated, shall be deemed additional rent (whichas applicable, collectively with Base Rent, shall be deemed “Rent”for any partial year).

Appears in 1 contract

Sources: Lease Agreement (ETHEMA HEALTH Corp)

Rent. a. 3.1 Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts , except that the first full month's rent shall be due and payable on paid upon the Commencement Date and on execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the first (1st) day 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 each calendar month thereafterthe Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by 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 timetime designate in writing. Base Rent 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 next scheduled rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be increased during 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 Term as provided for in the Basic Lease Informationextent of which additional expense is extremely difficult and economically impractical to ascertain. Base Rent, as so adjusted, shall thereafter be Tenant therefore agrees that if rent or any other sum is Dot paid when due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery and payable pursuant to Landlord of an executed copy of this Lease, Tenant a late charge shall deliver be imposed in an amount equal to Landlord the Base Rent for the first month greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance unpaid rent or other payment. The amount of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required late charge to be paid by Tenant under shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Lease Section 3.2 in no way relieve Tenant of the obligation to pay rent or other than Base Rentpayments on or before the date on which they are due, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease to be performed by Tenant, shall be deemed additional in the event said rent (which, collectively with Base Rent, shall be deemed “Rent”)or other payment is unpaid after date due.

Appears in 1 contract

Sources: Lease (Thermoview Industries Inc)

Rent. a. Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “Additional Rent” means all sums, except as specifically provided elsewhere in this Lease (other than Base Rent) that Tenant is required to pay Landlord under this Lease, including late fees and interest. 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 for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money . All other items of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased due and payable by Tenant on or before 30 days after billing by Landlord, provided that the installment of Base Rent and Additional Rent for the first full calendar month of the Term shall be payable upon the Effective Date hereof as provided in Section 5 below. Rent shall be made payable to the entity and sent to the address Landlord designates. Tenant shall pay Landlord an administration fee equal to 10% of the amount of any Rent payments not paid on or before the sixth (6th) day of the month. In addition, past due Rent payments not paid on or before the sixth (6th) day of the month shall accrue interest at 12% per annum. Rent for any partial month during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days Landlord an administrative fee of request by Landlord. All amounts required to be paid $50 if any check submitted by Tenant under this Lease is returned unpaid for insufficient funds or any other than Base Rentreason. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. In the event Tenant makes a partial payment of past due amounts, including any the payment shall be applied first to reduce all accrued unpaid late charges and interest, in inverse order of maturity, and then to reduce all other sums that may become past due by reason amounts, in inverse order of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)maturity.

Appears in 1 contract

Sources: Office Lease Agreement (ForgeHouse, Inc.)

Rent. a. (a) Tenant shall pay to Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due without demand and payable on the Commencement Date and without setoff or deductions of any kind, except as expressly set forth in this Lease, in equal monthly installments, in advance, on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, Term at the address indicated by of Landlord stated below or such other place as Landlord may designate in writing from time to time, with payment in advance of appropriate fractions of a monthly payment for any portion of a month at the commencement and termination of the Term. The first monthly installment of Base Rent shall, however, be payable on the execution hereof. All payments shall be made initially at Landlord's office c/o Crown Properties, Inc., ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇. Every amount payable by Tenant hereunder in addition to Base Rent shall be increased during the Term as provided for in the Basic Lease Informationdeemed Additional Rent, which shall be paid without setoff or deductions of any kind within 15 days after demand. Base Rent and Additional Rent are herein collectively called "Rent, as so adjusted, ". Any Rent not paid by Tenant within ten (10) days after its due date shall thereafter be due payable with a late charge equal to 5% of the unpaid rent installment, as provided hereinAdditional Rent. The Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with payable as follows: Year Annual Base Rent Monthly Base Rent ---- ---------------- ----------------- 1 $574,000.00 $47,833.33 2 $602,000.00 $50,166.67 3 $630,000.00 $52,500.00 4 $658,000.00 $54,833.33 5 $686,000.00 $57,166.67 6 $714,000.00 $59,500.00 7 $742,000.00 $61,833.33 (b) Tenant’s delivery 's obligation to Landlord of an executed copy pay Base Rent under this Lease shall commence on the Commencement Date of this Lease, Lease (the "Rent Commencement Date"). (c) The obligation of Tenant to pay all sums of Additional Rent and the Electrical Inclusion Amount (as hereinafter defined) shall deliver to Landlord commence on the Base Rent for the first month Commencement Date of the TernLease and there shall be no abatement whatsoever of the obligation of Tenant to pay such sums during any period or part of any lease year during the term of the Lease. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. d) Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage 's obligation to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant Base Rent under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent abated as follows: (whichi) during lease months 1 through 9, collectively with Base Rent, Rent shall be deemed “Rent”)calculated on the basis of 20,000 rentable square feet; (ii) during lease months 10 through 18, Base Rent will be calculated on the basis of 24,000 rentable square feet; and (iii) from lease month 19 through the Expiration Date, the Base Rent will be calculated on the basis of 28,000 rentable square feet. Accordingly, during lease months 1 though 9, monthly Base Rent shall be $34,166.67, during lease months 10 through 12, monthly Base Rent shall be $41,000.00, and during lease months 13 through 18, monthly Base Rent shall be $43,000.00.

Appears in 1 contract

Sources: Lease (Matrixone Inc)

Rent. a. 3.1 Tenant shall agrees to pay to Landlord as rent for the Premises Base Annual Rent for in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. Such amounts , except that the first full month’s rent shall be due and payable on paid upon the Commencement Date and on execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth ( 1/12) of the first (1st) day 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 each calendar month thereafterthe Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to Landlord, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by 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 timetime designate in writing. Base Rent 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 next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be increased during deemed additional rent. 3.2 Tenant recognizes that late payment of any rent after five (5) days of due date, or other sum due under this Lease will result in administrative expense to Landlord, the Term as provided for in the Basic Lease Informationextent of which additional expense is extremely difficult and economically impractical to ascertain. Base Rent, as so adjusted, shall thereafter be Tenant therefore agrees that if rent or any other sum is not paid when due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery and payable pursuant to Landlord of an executed copy of this Lease, Tenant a late charge shall deliver be imposed in an amount equal to Landlord the Base Rent for the first month greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance unpaid rent or other payment. The amount of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required late charge to be paid by Tenant under shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Lease Section 3.2 in no way relieve Tenant of the obligation to pay rent or other than Base Rentpayments on or before the date on which they are due, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease to be performed by Tenant, shall be deemed additional in the event said rent (which, collectively with Base Rent, shall be deemed “Rent”)or other payment is unpaid after date due.

Appears in 1 contract

Sources: Lease (Devax Inc)

Rent. a. (a) Tenant shall timely pay to Landlord Rent (as rent for defined in the Premises Basic Lease Information), including the amounts set forth in Exhibit C attached hereto, without notice, demand, deduction or set-off (except as otherwise expressly provided herein), which payment shall be accompanied by all applicable state and local sales, use and/or gross receipts taxes. Unless otherwise prohibited by Law, Tenant shall make Rent payments via Automated Clearing House (ACH) credit transfer (as opposed to direct debit) payment processing. The obligations of Tenant to pay Base Rent for each month during (as defined in the TermBasic Lease Information) and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Such amounts Base Rent, adjusted as herein provided, shall be due payable monthly in advance. The first (1st) monthly installment of Base Rent, in the amount of $344,662.50 shall be payable concurrently with Tenant’s execution and delivery of this Lease to Landlord; thereafter, Base Rent shall be payable on the Commencement Date and on the first (1st) day of each month beginning on the first (1st) day of the second (2nd) full calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, Term following the applicable Abatement Period (as defined below). The monthly Base Rent for any partial month at the address indicated by Landlord from time to time. beginning of the Term shall equal the product of 1/365 (or in the event of a leap year, 1/366) of the annual Base Rent in effect during the partial month and the number of days in the partial month, and shall be increased during due on the Term as provided for in the Basic Lease InformationCommencement Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Payments of Base Rent adjustments for any fractional calendar month at the end of the Term shall be similarly prorated. Concurrently This Lease is intended to be a so-called “triple net” lease with Tenant’s delivery respect to Landlord of an executed copy of this Leaseand, Tenant shall deliver to Landlord except as may be specifically set forth herein, the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises owing hereunder is (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20x) days of request by Landlord. All amounts required to be paid by Tenant absolutely net of all costs and expenses relating to Landlord’s ownership and operation of the Project and the Complex, and (y) not to be reduced, offset or diminished, directly or indirectly, by any cost, charge or expense payable hereunder by Tenant or by others in connection with the Premises, the Project, the Complex, and/or the Business Park, or any part thereof. The provisions of Exhibit C attached hereto are intended to pass on to Tenant all costs and expenses relating to Landlord’s ownership and operation of the Premises, the Project and/or the Complex. Tenant shall pay Additional Rent, Taxes and Insurance (each as defined in Exhibit C) at the same time and in the same manner as Base Rent. (b) Notwithstanding the foregoing provisions of this Section 4 to the contrary, so long as an Event of Default does not exist, Tenant shall be entitled to an abatement of: (x) Phase I Premises Base Rent only for the first six (6) full calendar months following the Commencement Date (the “Phase I Premises Abatement Period”), and (y) Phase II Premises Base Rent only for the first six (6) full calendar months following the Phase II Premises Commencement Date (the “Phase II Premises Abatement Period”). The Phase I Premises Abatement Period and the Phase II Premises Abatement Period are each referred to generally as an “Abatement Period” and collectively as the “Abatement Periods”. The date immediately following the end of the Phase I Premises Abatement Period is referred to as the “Phase I Premises Rent Commencement Date” and the date immediately following the end of the Phase II Premises Abatement Period is referred to as the “Phase II Premises Rent Commencement Date”. The total amount of Base Rent abated during the Abatement Periods is referred to herein as the “Abated Rent”. If a monetary or material non-monetary Event of Default (i.e., a default beyond any applicable notice and cure period) occurs at any time during the Term, then (i) at Landlord’s option, all then-unamortized portions of the Abated Rent (assuming amortization of Abated Rent on a straight-line basis over the Term) previously credited to Tenant shall become due and payable to Landlord; and (ii) if the monetary or material non-monetary Event of Default (i.e., a default beyond any applicable notice and cure period) occurs prior to the expiration of an Abatement Period, then, from and after the occurrence of such Event of Default, there shall be no further abatement of Base Rent pursuant to this Section 4(b) unless and until Tenant cures such Event of Default and Landlord accepts such cure in lieu of exercising its remedies under Section 18(a) or Section 18(b) of this Lease other than Base Rent(in which event, including the Rent Abatement Period will not be suspended or extended as a result thereof, but Tenant shall be entitled to any remaining portion of the originally scheduled Abatement Period as of the date Tenant cures such Event of Default and all other sums that may become due Landlord accepts the same). No such recapture by reason Landlord of Abated Rent pursuant to clause (i) above shall constitute a waiver of any default Event of Default of Tenant or failure any election of remedies by Landlord. For the avoidance of doubt, all Rent other than the Phase I Base Rent remains payable during the Phase I Premises Abatement Period and is not subject to comply with abatement, and all Rent other than the terms of this Lease Phase II Premises Base Rent remains payable during the Phase II Premises Abatement Period and is not subject to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)abatement.

Appears in 1 contract

Sources: Lease Agreement (Senti Biosciences, Inc.)

Rent. a. Tenant Tenants shall pay rent (“Rent”) to the Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and follows: $X,XXX per month, in advance, in one payment or separate payments on the first (1st) day of each calendar month thereafterduring the Term ($XX,XXX Total). Rent payments may be made by personal, without certified, or cashier’s check or money order; provided however, that in the event any deduction check given to Landlord is returned by the bank unpaid, Tenants shall pay a returned check fee of Twenty Five ($25.00) for each check returned unpaid in addition to an Administration Fee (as hereinafter defined), with all subsequent monies due and payable in certified funds. Tenants may pay the Rent by separate check from each Tenant, but all Tenants shall remain jointly and severally liable for all Rent. Landlord reserves the right, upon notice to Tenants, to refuse to accept personal checks from Tenants after one or offset and without prior notice or demand, in lawful money more of Tenants’ personal checks have been returned by the United States of America, at bank unpaid. Tenants shall send all rent payments to the address indicated by set forth below or such other address as Landlord may from time to timetime designate in writing to Tenants. Base Rent All checks or money orders shall be increased during made payable to Landlord and mailed to the Term following address: or at such other address as provided Landlord may designate from time to time in writing to Tenants. If the Tenants fail to pay rent on or before the due date, Tenants agree to pay an administration fee of $25.00 for in the Basic Lease Informationeach monthly installment of rent not received by Landlord on or before its due date (”Administration Fee”). Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for The Administration Fee and any fractional calendar month and all returned check fees shall be proratedconsidered additional rent and shall partially compensate Landlord for costs incurred related to a late payment. Concurrently with TenantThe Landlord’s delivery right to Landlord of an executed copy collect this Administration Fee shall be in addition to the Landlord’s right to take action under any applicable law and other provision of this Lease. If the Tenants fail to pay rent on or before the due date, Tenant shall deliver and the Landlord serves a seven (7) day or thirty (30) day notice to quit, demand possession, terminate the tenancy, or any other notice required by statute to Tenants, Tenants agree to pay a $10.00 processing fee to Landlord for each notice (“Processing Fee”). The Processing Fee shall be considered additional rent and shall partially compensate Landlord for costs incurred related to issuance of a notice. The Landlord’s right to collect this Processing Fee shall be in addition to the Base Rent for the first month Landlord’s right to take action under any applicable law and other provision of the Tern. b. As this Lease. Unless otherwise set forth in more detail belowthis Lease, the Tenants shall pay all additional rent to the Landlord promptly and in no event later than the next scheduled rent payment. All rent and additional rent paid after the due date must be paid at the place designated for payment, by certified or cashier check or money order. All payments received shall be responsibleapplied first to Processing Fees, without additional charge then to TenantAdministration Fees, for then to Service Fees (as defined below), then to other amounts, excluding rent, due under to Landlord under this Lease, and then to rent due under this Lease. #2181588-v1 -1- If the maintenance Tenants fail to pay rent or any other sums when due to the Landlord, the Landlord serves notice of default of the Common AreasTenants as required by law, exterior areas and the Tenants fail to remit the amounts due before the notice period expires, the amount of court costs and attorney fees incurred by Landlord in enforcing Landlord’s remedies and allowed by statute shall be added to the amount of the Project arrearage and base Building mechanical, plumbing shall be considered additional rent. The Landlord’s right to collect these costs and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described expenses shall be in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage addition to the Building by Tenant or Landlord’s right to take action under any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease applicable law and other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms provision of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)Lease.

Appears in 1 contract

Sources: Residential Lease Agreement

Rent. a. In consideration of this lease, Tenant shall promises and agrees to pay Landlord the basic rental (as rent for the Premises Base Rent defined in paragraph 1(e) hereof) without deduction or set off, for each month during of the Termentire lease term. Such amounts One such monthly installment together with the security deposit (as defined in paragraph 1(f) hereof) shall be payable by Tenant to Landlord contemporaneously with the execution hereof, and a like monthly installment shall be due and payable without demand on the Commencement Date and on or before the first (1st) day of each succeeding calendar month thereafter, without during the term hereof. Rent for any deduction fractional month at the beginning or offset and without prior notice or demand, in lawful money end of the United States of America, at the address indicated lease 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 such deposit shall not be considered an advance payment of rental or a measure of Landlord's damages in case of default by Tenant. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time. Base Rent shall be increased during , without prejudice to any other remedy, use such deposit to the Term as provided for in the Basic Lease Information. Base Rentextent necessary to make good any arrearages of rent and any other damage, as so adjustedinjury, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery expense or liability caused to Landlord by such event of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month default. Following any such application of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Partiessecurity deposit, Tenant shall pay to Landlord on demand the entire cost thereof within twenty (20) days amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default hereunder, any remaining balance of request such deposit shall be returned by Landlord. All amounts required Landlord to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms upon termination of this Lease lease. If Landlord transfers its interest in the premises during the lease term, Landlord may assign the security deposit to be performed by Tenant, the transferee and thereafter shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)have no further liability for the return of such security deposit.

Appears in 1 contract

Sources: Lease Agreement (Dc/DWC Acquisition Corp)

Rent. a. (a) During the Term of this lease Tenant shall agrees to pay to Landlord as a minimum annual rent for (the Premises Base Rent for each month during Minimum Rent) at the Term. Such amounts shall be due and rates set forth below, in monthly installments of one-twelfth thereof payable on the Commencement Date and on in advance upon the first (1st) day of each calendar month thereafterincluded within the Term without set-off, without deduction, or diminution except as expressly provided in this lease. Rent for any deduction fraction of a month at the commencement and/or termination of the term of this lease shall be prorated. All rent and other payments to be made by Tenant to Landlord shall be made payable to IN DESIGN REALTY, herein called Landlord, and sent to Landlord at the place to which notices to Landlord are required to be sent unless Landlord shall direct otherwise by notice to Tenant. (b) All costs, charges, expenses, and adjustments of rent which Tenant assumes, agrees or offset is obligated to pay to Landlord pursuant to this lease shall be deemed additional rent, and without prior notice or demandin the event of non-payment thereof, Landlord shall have all the rights and remedies with respect thereto as are provided for herein in case of nonpayment of rent. Tenant shall pay all Minimum Rent and additional rent in lawful money of the United States which shall be legal tender in payment of Americaall debts, at the address indicated by Landlord from time to time. Base public and private. (c) Minimum Rent shall be increased during payable at the Term as provided for in following annual rates (the Basic Lease Information. Base Rentterm “lease year” shall mean the period from the commencement date to the__________ , as so adjustedand each calendar year thereafter): During the first 2 lease years, shall thereafter be due as provided herein. Base Minimum Rent adjustments for any fractional calendar month shall be proratedat the rate of $__________________ per annum; or $ _______________ per Month. Concurrently with Tenant’s delivery to Landlord of an executed copy of this LeaseDuring the 2 through 3 lease years, Tenant shall deliver to Landlord the Base Minimum Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsibleat the rate of $________ per annum, without additional charge to Tenantwhich constitutes a market standard increase of 4%, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).$_________ per Month

Appears in 1 contract

Sources: Lease Agreement

Rent. a. Tenant shall pay to Landlord (or to Lender, if directed by Landlord), as minimum annual rent for the Leased Premises Base Rent for each month during the Term. Such amounts shall be due and payable , the Basic Rent in arrears, on the Commencement Date Basic Rent Payment Dates, and shall pay the same by wire transfer in immediately available federal funds, by 9:30 a.m., New York time on the first date due, to such account in such bank as Landlord (1stor Lender, if Landlord directs Tenant to pay Basic Rent directly to Lender) day of each calendar month thereaftershall designate, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Basic Rent for the period from and including the Commencement Date through and including June 30, 2003 shall be increased during the Term as provided for paid on June 30, 2003 in the Basic Lease Informationamount set forth for such period on Exhibit B-1 attached hereto. Base Tenant shall pay and discharge before the imposition of any fine, lien, interest or penalty that may be added thereto for late payment thereof, as Additional Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery all other amounts and obligations which Tenant assumes or agrees to Landlord of an executed copy of 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 shall deliver to Landlord the Base Rent for the first month pay or discharge any of the Tern. b. As set forth in more detail belowforegoing, Landlord shall be responsiblehave all rights, without additional charge to Tenantpowers and remedies provided herein, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoingby law or otherwise, in the event of Tenant’s disproportionate or after-hours use nonpayment of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage Basic Rent. All payments of Additional Rent that are payable to the Building Landlord shall be paid by Tenant by wire transfer in immediately available federal funds to such account in such bank as Landlord (or Lender, if so directed by Landlord) shall designate, from time to time. If any Tenant Partiesinstallment of Basic Rent is not paid when the same is due, Tenant shall pay to Landlord or Lender, as the entire cost thereof within twenty (20) days of request by Landlordcase may be, on demand, as Additional Rent, a Late Charge. All amounts required to be paid by Landlord and Tenant under agree that this Lease other than Base Rent, including any is a true lease and all other sums that may become due does not represent a financing arrangement. Each party shall reflect the transactions represented by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenantin all applicable books, shall be deemed additional rent records and reports (whichincluding, collectively without limitation, income tax filings) in a manner consistent with Base Rent, shall be deemed “Rent”)"true lease" treatment rather than "financing" treatment.

Appears in 1 contract

Sources: Lease (Performance Food Group Co)

Rent. a. Tenant (a) Commencing on the Rent Commencement Date, Subtenant shall pay to Landlord as rent for Annual Base Rent, in equal monthly installments of the Premises Monthly Base Rent for (collectively referred to herein as " Base Rent") on the first day of each month during the Sublease Term (partial months prorated). (b) Commencing on the Rent Commencement Date, and continuing thereafter throughout the Sublease Term, Subtenant shall pay to Sublandlord, in addition to Base Rent, Additional Rent in equal monthly installments based on the portion of the estimates of such charges provided under the Prime Lease and allocable to the Sublease Space, and otherwise adjusted and reconciled as and when provided in the Prime Lease. Such amounts Subtenant shall pay all other sums that are due in accordance with this Sublease not later than five (5) business days prior to the time Sublandlord is obligated under the Prime Lease to make any such payment to Landlord. It is the intention of the parties that during the Sublease Term, Subtenant shall be responsible for all financial obliga­tions due under the Prime Lease except for the payment of Annual Base Rent and payable on except as otherwise expressly provided in this Sublease. (c) Any payment of Rent not paid within five (5) days of the Commencement Date and on due date shall be subject to a late charge of five percent (5%) of such payment. Any payment of Rent not paid within thirty (30) days of the first due date also will bear interest at a per annum rate equal to the lesser of eighteen percent (1st18%) day or the maximum legal rate. (d) All payments of each calendar month thereafter, Rent shall be made without any demand (unless otherwise required in the Prime Lease) deduction or offset setoff, and without prior notice or demandshall be deemed to constitute Rent under this Sublease, in lawful money of the United States States. All payments of America, at the address indicated by Landlord from time to time. Base Rent rent shall be increased during the Term paid to Sublandlord’s Rent Address or such other place as provided for Sublandlord may designate in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Ternwriting. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 1 contract

Sources: Sublease Agreement (Talk America Holdings Inc)

Rent. a. (a) The Tenant shall pay to the Landlord as rent Base Rent, in legal tender, at the Landlord’s office as set forth in Exhibit “B”, or as directed from time to time by Landlord’s notice, the annual amount set forth in Exhibit “B” payable in equal monthly payments as set forth in Exhibit “B” promptly on the first day of every calendar month of the term, except for the Premises Base Rent for each month during the Term. Such amounts shall be first 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 Commencement Date 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 the greater of: i) $100.00 or ii) ten percent (10%) of the overdue amount. The parties agree that such late charge represents a fair and reasonable estimate of the 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 this Lease and shall be paid without deduction or set-off. (b) It is understood that the Base Rent specified in Paragraph (a) was negotiated in anticipation that the amount of Operating Expenses on the first Property would not exceed $271,970.00 during any calendar year of the term hereof. Therefore, in order that the rental payable throughout the term of the Lease shall reflect any increase in such costs, the parties agree as hereinafter in this Section set forth. The annual Base Rent payable pursuant to Paragraph (1sta) day 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 month thereafteryear. Tenant’s pro rata share of such increase is agreed to be 10% . (A) Operating Expenses shall consist of all expenses, without any deduction or offset costs and without prior notice or demand, in lawful money disbursements (but not specific costs billed to specific tenants of the United States Property) of Americaevery kind and nature, computed on the accrual basis, relating to or 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 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, Tenant’s Share due for the address indicated ensuing twelve (12) months, as estimated by Landlord from time to time, in twelve (12) monthly installments, each in an amount equal to 1/12th of Tenant’s Share so estimated by Landlord commencing on the first day of the month following the month, in which Landlord notifies Tenant of the amount of such estimated Tenant’s Share. Base If, as finally determined, Tenant’s Share shall be greater 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 be increased during survive the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy termination of this Lease. Any payment, refund, or credit made pursuant to this Paragraph (b) shall 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 the Operating Expenses for the full year appropriately adjusted for the period remaining in the Tenant’s Term. (C) Upon receipt of the Landlord’s statement, Tenant does hereby covenant and agree promptly to pay the increases in Rent pursuant to Paragraph (b) of this Section as and when the same shall deliver become due and payable, without further demand therefore, and without any set-off or deduction whatsoever. 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 have the right to inspect the books of Landlord at reasonable times during the business hours of Landlord at Landlord’s office in the Building or, at Landlord’s option, 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 be correct. Such inspection or audit shall be conducted by Tenant or tenant’s employee or Tenant’s auditor; but in no event shall the audit be conducted by a third party whose compensation is contingent upon the results of such audit or the amount of any refund received by Tenant. Tenant hereby agrees to keep the results of any such audit confidential and to 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 (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 for the first month of the Tern. b. As set forth in more detail below, 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 responsible, without deemed additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoingrent and, in the event of Tenant’s disproportionate or afternon-hours use payment thereof, Landlord shall have all the rights and remedies herein provided for in case of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days non-payment of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 1 contract

Sources: Office Lease (Alimera Sciences Inc)

Rent. a. (a) During the term of this Lease, commencing on AUGUST 1, 2002 (except as provided in this subsection), Tenant agrees to pay Landlord, as a fixed minimum annual rent for the Demised Premises, the sum of Thirty Six Thousand Three Hundred Dollars ($36,300.00), payable in advance in monthly installments of Three Thousand Twenty Five Dollars ($3,025.00), subject to the increases provided for in Section 2(e). All rent payments will be due on the first day of each month. Should Tenant commence operations within the Demised Premises prior to August 1, 2002, Tenant shall pay Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money a pro-rata amount of the United States of America, at monthly rental payment from the address indicated by Landlord from time to timedate Tenant commenced operations. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy On execution of this Lease, Tenant shall deliver to Landlord the Base Rent for pay the first month of the Ternmonth's rent. b. As set forth in more detail below, (b) All payments of rent and other sums to be paid to the Landlord shall be responsible, without additional charge made at Landlord's address listed above or at such place as the Landlord shall designate in writing from time to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises time. (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage c) In addition to the Building by Tenant or any Tenant Partiesfixed minimum annual rent, Tenant shall pay the entire cost thereof within twenty (20) days as additional rent to Landlord any and all payments or charges required pursuant to paragraphs 6 and 7 herein and all other sums of request by Landlord. All amounts money, payments or charges required to be paid by Tenant under this Lease, whether or not the same, are designated as "additional rent". If such amounts or charges are not paid at the time provided in this Lease, they shall nevertheless, if not paid when due, be collectible as additional rent with the next installment of rent falling due hereunder, but nothing herein contained shall be deemed to suspend or delay the payment of any money or charge at the time same becomes due and payable hereunder, or limit any other remedy of the Landlord. (d) All payments received shall be applied first to return check charges and late charges due pursuant to Paragraph 25 below, then to other amounts such as additional rent due hereunder, then to rent due hereunder. (e) For each Lease other than Base Rentyear following the initial first twelve (12) months of the lease term, including any and all other sums that may become due by reason of lease year during any default of Tenant or failure to comply with extended term, the terms of this Lease to be performed by Tenant, fixed minimum annual rent shall be deemed additional rent increased by three percent (which, collectively with Base Rent, shall be deemed “Rent”3%).

Appears in 1 contract

Sources: Lease Agreement (Bestnet Communications Corp)

Rent. a. 7.1. Tenant shall pay to Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable Premises, commencing on the date that is four (4) months after the Term Commencement Date and on (the first (1st) day of each calendar month thereafter“Rent Commencement Date”), without any deduction or offset and without prior notice or demandthe sums set forth in Section 2.3, subject to the rental adjustments provided in lawful money of the United States of America, at the address indicated by Landlord from time to timeArticle 8 hereof. Base Rent shall be increased during the Term paid in equal monthly installments as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12)2.3, Tenant’s request for additional services or damage subject to the Building by Tenant or any Tenant Partiesrental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Term. 7.2. In addition to Base Rent, Tenant shall pay the entire cost thereof within twenty to Landlord as additional rent (20“Additional Rent”) days of request by Landlord. All amounts required to be paid by Tenant under 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), and (c) any other than Base Rentamounts 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 terms 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 deemed additional rent (whichpaid to Landlord, collectively with Base Rentwithout abatement, deduction or offset, except as expressly set forth herein, in lawful money of the United States of America to the address set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be deemed “Rent”)prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month. 7.4. Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and, except as expressly set forth in this Lease, 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.

Appears in 1 contract

Sources: Lease (Epizyme, Inc.)

Rent. a. 4.2 Rental shall accrue from the Commencement Date, and shall be payable to Landlord, at Landlord's address. 4.3 Tenant shall pay to Landlord as rent for minimum guaranteed rental in monthly installments in the Premises Base Rent for each month during the Termamounts specified in Section 1.1 (i) of this lease and Exhibit E, attached hereto and made a part hereof. Such amounts The first such monthly installment shall be due and payable on or before the Commencement Date, and subsequent installments shall be due and payable on or before the first day of each succeeding calendar month during the lease term provided that if the Commencement Date and on is a date other than the first (1st) day of a calender month, there shall be due and payable on or before such date as minimum guaranteed rental for the balance of such calendar month a sum equal to that proportion of the rent specified for the first full calendar month as herein provided, which the number of days from the Commencement Date to the end of the calendar month during which the Commencement Date shall fall bears to the total number of days in such month. Tenant agrees to pay to Landlord, if assessed by the jurisdiction in which the Industrial Complex is located, any sales, excise or other tax imposed, assessed or levied in connection with Tenant's payment of rents. 4.4 It is understood that the minimum guaranteed rental is payable on or before the first day of each calendar month thereafter(in accordance with Section 4.2 above), without offset or deduction of any deduction nature. In the event any rental is not received within ten (10) days after its due date for any reason whatsoever, or offset and without prior notice or demandif any rental payment is by check which is returned for insufficient funds, then in addition to the past due amount Tenant shall pay to Landlord one of the following (the choice to be at the sole option of Landlord unless one of the choices is improper under applicable law, in lawful which event the other alternative will automatically be deemed to have been selected): (a) a late charge in an amount equal to ten percent (10%) of the rental then due, in order to compensate Landlord for its administrative and other overhead expenses such late charge shall be incurred commencing with the second late payment: or (b) interest on the rental then due at the maximum contractual rate which could legally be charged in the event of a loan of such rental to Tenant (but in no event to exceed 1-1/2% per month), such interest to accrue continuously on any unpaid balance due to Landlord by Tenant during the period commencing with the rental due date and terminating with the date on which Tenant makes full payment of all amounts owing to Landlord at the time of said payment. Any such late charge or interest payment shall be payable as additional rental under this lease, shall not be considered as deduction from percentage rental nor a waiver by Landlord of any default by Tenant hereunder, and shall be payable immediately on demand. 4.5 If Tenant fails in two (2) consecutive months to make rental payments within ten (10) days after due, Landlord, in order to reduce its administrative costs, may require, by giving written notice to Tenant (and in addition to any late charge or interest accruing pursuant to Section 4.4 above, as well as any other rights and remedies accruing pursuant to Article 22 or Article 23 below, or any other provision of this lease or at law), that minimum guaranteed rentals are to be paid quarterly in advance instead of monthly, and that all future rental payments are to be made on or before the due date by cash, cashier's check, or money order and that the delivery of Tenant's personal or corporate check will no longer constitute a payment of rental as provided in this Lease. Any acceptance of a monthly rental payment or of a personal or corporate check thereafter by Landlord shall not be construed as a subsequent waiver of said rights. 4.6 Tenant shall pay when due any and all sales taxes levied, imposed or assessed by the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base RentState of Illinois, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Partiespolitical subdivision thereof or other taxing authority upon the minimum guaranteed rental, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any additional rent and all other sums that may become payable hereunder. 4.7 Any and all minimum guaranteed rentals and other sums due and payable by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenanthereunder (including, without limitation, amounts payable under Article 6 and Section 7.4 hereof) shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)for all purposes hereunder.

Appears in 1 contract

Sources: Industrial Complex Lease (Pilot Network Services Inc)

Rent. a. 4.01 Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Subject to Exhibit B, 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 under applicable Law. Base Rent for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money . All other items of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Informationdue and payable by Tenant on or before 30 days after billing by Landlord. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery made payable to Landlord of an executed copy of this Leasethe entity, Tenant shall deliver and sent to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail belowaddress, Landlord designates and shall be responsible, without additional charge made by good and sufficient check or by other means reasonably acceptable to Tenant, for the maintenance Landlord. If Tenant fails to pay any item or installment of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant PartiesRent within 5 Business Days following written notice that such amount is past due, Tenant shall pay Landlord an administration fee equal to 3% of all past due Rent. In addition, all monetary amounts past due from Landlord to Tenant and Tenant to Landlord, including, without limitation, past due Rent shall accrue interest at a rate per annum (the entire cost thereof within twenty “Interest Rate”) equal to the lesser of (20i) days the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication G.13(415), published on the first Tuesday of request by Landlord. All amounts required each calendar month (or such other comparable index as Landlord and Tenant shall reasonably agree upon if such rate ceases to be paid published) plus 2 percentage points, and (ii) the highest rate permitted by Tenant applicable Law. 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 shall be prorated based on the number of days in such calendar month. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s payment of any amounts under this Lease shall not constitute a waiver by Tenant of Tenant’s right to later object to such payment. Except as otherwise expressly provided herein, Tenant’s covenant to pay Rent is independent of every other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of covenant in this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)Lease.

Appears in 1 contract

Sources: Office Lease Agreement (GoodRx Holdings, Inc.)

Rent. a. Tenant shall covenants and agrees to pay Landlord as rent for the Premises Base Rent for each month during the TermTerm the amount of the "Basic Rent" described in the Basic Lease Provisions above. Such amounts Basic Rent shall be payable in advance in monthly installments (i.e., one twelfth of the applicable annual total per month), and shall be due and payable on the Commencement Date and on the first (1st1 st ) day of each month, in advance. Basic Rent shall be prorated with respect to the first and last monthly payments for each applicable period based on the number of calendar month thereafterdays in the applicable month. All 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 deduction or offset upgrades that may be required in connection with the Building switchgear, and without prior notice or demand, in lawful money the electric distribution system of the United States of Americalocal electric utility . Tenant shall conduct, at its expense, such testing and commissioning of the address indicated 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 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 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 by Landlord from time to time. Base Rent shall be increased during time (and to the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent extent available) for the first month temporary storage, laydown and staging of tools, materials and equipment, the Ternparking of construction crew vehicles and temporary construction trailer and rigging . b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 1 contract

Sources: Solar Lease (Green Stream Holdings Inc.)

Rent. a. 8.1. Tenant shall pay to Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be due and payable Premises, commencing on the date that is three (3) months after the Term Commencement Date and on (the first (1st) day of each calendar month thereafter“Rent Commencement Date”), without any deduction or offset and without prior notice or demandthe sums set forth in Section 2.3, subject to the rental adjustments provided in lawful money of the United States of America, at the address indicated by Landlord from time to timeArticle 9 hereof. Base Rent shall be increased during the Term paid in equal monthly installments as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12)2.3, Tenant’s request for additional services or damage subject to the Building by Tenant or any Tenant Partiesrental adjustments provided in Article 9 hereof, each in advance on the first day of each and every calendar month during the Term. 8.2. In addition to Base Rent, Tenant shall pay the entire cost thereof within twenty to Landlord as additional rent (20“Additional Rent”) days of request by Landlord. All amounts required to be paid by Tenant under at times hereinafter specified in this Lease (a) Tenant’s pro rata share, as set forth in Section 2.2 (“Tenant’s Pro Rata Share”), of Operating Expenses (as defined below) and (b) any other than Base Rentamounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including 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 terms agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. 8.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be deemed additional rent (whichpaid to Landlord, collectively with Base Rentwithout abatement, deduction or offset, except as otherwise expressly agreed upon in this Lease, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be deemed “Rent”)prorated for such period on the basis of a thirty (30) day month and shall be paid at the then-current rate for such fractional month.

Appears in 1 contract

Sources: Lease (Avi Biopharma Inc)

Rent. a. 4.01 Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as "RENT"). "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 for each month during the Term. Such amounts and recurring monthly charges of Additional Rent shall be due and payable on the Commencement Date and in advance on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, provided that the first installment of Base Rent and the first monthly installment of Additional Rent for Expenses and Taxes shall be payable on December 1, 2004 (and shall apply to the month of January 2005 unless the Commencement Date does not occur on or before January 1, 2005, in lawful money which event such payment shall apply to the first full calendar month of the United States Term). All other items of America, at the address indicated by Landlord from time to time. Base Rent shall be increased due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates in writing and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum. 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 as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be proratedprorated based on the actual number of days in such month. Concurrently with No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s delivery 's covenant to Landlord pay Rent is independent of an executed copy of every other covenant in this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”).

Appears in 1 contract

Sources: Office Lease Agreement (Bsquare Corp /Wa)

Rent. a. Tenant Lessee shall pay Landlord to Lessor as rent for the Premises Base Rent for each sum of $66.00 per month during (the Term. Such amounts shall be due and payable “Rent”), paid in advance on the Commencement Date and on or before the first (1st) day of each calendar month thereafterduring the term of this Agreement, without with the first installment of such rent, together with any deduction additional rent due for any fractional month determined in accordance with Section 1 above, to be paid on or offset and without prior notice before the Commencement Date. All payments of Rent shall be payable to Lessor at ▇.▇. ▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, or demand, in lawful money of the United States of America, at the such other address indicated by Landlord or addresses as may from time to timetime be determined by Lessor. Base In the event that Lessee fails to make payment of any installment of Rent within ten (10) days of the date the same is due, Lessor shall incur damages which are extremely difficult to measure, and because of this, Lessee agrees to pay to Lessor, as additional rent, a late fee equal to 10% of the amount of each late rental payment. In addition, any and all costs incurred by Lessor by reason of Lessee’s breach of any provision of this Agreement, including, but not limited to, any attorneys’ fees, shall be increased deemed additional rent, and may be demanded by Lessor of Lessee at any time or withheld from the Deposit, as defined hereunder, all in Lessor’s sole and absolute discretion. The Rent may be changed by Lessor at any time during the Term as provided for in by giving of written notice to Lessee at least ten (10) days before the Basic Lease Informationend of any month, by mail, to any address(es) supplied by Lessee. Base If Lessee has made advance payments of Rent, as so adjustedthe new rental rate will be charged against such payments, shall thereafter be effective upon the giving of notice of the new rate. In the event Lessee fails to make payment of Rent when the same is due as provided hereinor within ten (10) days thereafter, Lessor shall, in addition to any other remedies afforded by law or under this Agreement, have the right to, without notice, overlock the Unit, thereby denying Lessee access to the stored property until payment of Rent and any other charges assessed hereunder is received by Lessor. Base In addition to Rent adjustments and any late charges assessed pursuant to this Section, Lessee hereby agrees to pay to Lessor the following mandatory charges: (a) If any of Lessee’s checks are returned for any fractional calendar month reason, Lessee shall be prorated. Concurrently with Tenant’s delivery pay to Landlord Lessor, on demand, a service charge of an executed copy $35.00 for each returned check; (b) if Lessee does not return the unit to “broom clean” condition upon termination of this LeaseAgreement, Tenant Lessee shall deliver pay to Landlord the Base Rent for the first month Lessor, on demand, a minimum clean-up charge of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises $100.00; (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, c) in the event that Lessee fails to make payment of Tenant’s disproportionate or after-hours use any installment of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof Rent within twenty (20) days of request by Landlord. All amounts required the date the same is due, Lessor shall incur damages which are extremely difficult to be paid by Tenant under this Lease other than Base Rentmeasure, including any and all other sums that may become due by reason because of this, Lessee agrees to pay to Lessor, as additional rent, a lock out fee equal to $10.00; (d) if Lessee fails to make payment of any default installment of Tenant or failure Rent within forty-five (45) days of the date same is due, Lessor shall incur damages which are extremely difficult to comply with the terms measure, and because of this Lease this, Lessee agrees to be performed by Tenantpay to Lessor, shall be deemed as additional rent (whichrent, collectively with Base Rent, shall be deemed “Rent”)an auction fee equal to $100.00.

Appears in 1 contract

Sources: Self Storage Rental Agreement

Rent. a. 4.01 From and after the Commencement Date, Tenant shall pay Landlord as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “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 for and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month during without notice or demand, provided that the Terminstallment of Base Rent attributable to the fourth (4th) full calendar month of the Term shall be due concurrently with the execution of this Lease by T▇▇▇▇▇. Such amounts All other items of Rent shall be due and payable on the Commencement Date and on the first or before thirty (1st30) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord days after T▇▇▇▇▇ receives a correct billing from time to timeLandlord. Base Rent shall be increased made payable to the entity, and sent to the address, that Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Landlord may return to Tenant, at any time within fifteen (15) days after receiving same, any payment of Rent (a) made following any Default (irrespective of whether Landlord has commenced the exercise of any remedy), or (b) that is less than the amount due. Each such returned payment (whether made by returning Tenant’s actual check, or by issuing a refund in the event Tenant’s check was deposited) shall be conclusively presumed not to have been received or approved by Landlord. If Tenant does not pay any Rent within five (5) business days after the date when the same is due hereunder, Tenant shall pay Landlord an administration fee in the amount of five percent (5%) of the past due amount. In addition, if Tenant does not pay any Rent within thirty (30) days after the date when the same is due, such past due Rent shall accrue interest at a rate equal to the lesser of (i) ten percent (10%) per annum or (ii) the maximum legal rate. To ascertain whether any interest payable exceeds the legal limits imposed, any non-principal payment (including the administration fee) shall be considered to the extent permitted by Law to be an expense or a fee, premium or penalty, rather than interest. L▇▇▇▇▇▇▇’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Accordingly, Tenant hereby waives the provisions of California Uniform Commercial Code §3311 (and any similar Law that would permit an accord and satisfaction contrary to Landlord of an executed copy the provisions of this Section 4.01). Any partial payment shall be treated as a payment on account, and Landlord may accept such payment without prejudice to Landlord’s right to recover any balance due or to pursue any other remedy permitted by this Lease. No payment, receipt or acceptance of Rent following (a) any Default; (b) the commencement of any action against Tenant; (c) termination of this Lease or the entry of judgment against Tenant for possession of the Premises; or (d) the exercise of any other remedy by Landlord, shall cure the Default, reinstate the Lease, Tenant shall deliver grant any relief from forfeiture, continue or extend the Term, or otherwise affect or constitute a waiver of Landlord’s right to Landlord or exercise of any remedy, including Landlord’s right to terminate the Base Rent for the first month Lease and recover possession of the Tern. b. As set forth in more detail belowPremises; provided, Landlord shall be responsiblehowever, without additional charge to Tenant, for the maintenance full payment of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All all amounts required to be cure any Monetary Default shall operate to cure said Default if paid by within the time period provided in this Lease. The foregoing constitutes actual notice to Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default the provisions of Tenant or failure to comply with the terms California Code of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”Civil Procedure §1161.1(c).

Appears in 1 contract

Sources: Office Lease Agreement (Third Harmonic Bio, Inc.)

Rent. a. Tenant shall pay Landlord as rent for the Premises consisting of (i) Base Rent, and (ii) all other sums that become payable by Tenant under this Lease (“Additional Rent”). Base Rent for each month during the Term. Such amounts and Additional Rent are referred to herein as “Rent.” All Rent shall be due and payable on the Commencement Date and paid in advance on the first (1st) day of each calendar month thereafterunless otherwise provided herein. Tenant shall pay to Landlord, without with all Rent, any deduction rent, transaction, privilege or offset and without prior notice other tax now or demand, hereafter imposed on any Rent. All Rent shall be paid in lawful money of the United States of Americato Landlord, at the address indicated such place as Landlord shall designate by Landlord written notice to Tenant from time to time. Base Tenant shall pay all Rent shall promptly when due without notice or demand therefor and without any abatement, deduction or off set, for any reason whatsoever, except as may be increased during the Term as expressly provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided hereinthis Lease. Base Rent adjustments for any fractional calendar partial month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first full calendar month of the Tern. b. As set forth in more detail below, Landlord Term for which Base Rent is payable shall be responsiblepaid upon execution of this Lease, without additional charge to Tenant, and Base Rent for any partial month at the maintenance beginning of the Common Areas, exterior areas Term shall be due on the Commencement Date. If Landlord does not receive any Rent within five (5) days of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Partieswhen due, Tenant shall pay to Landlord an additional sum equal to ten percent (10%) of the entire cost thereof within twenty (20) days overdue amount. Such late charge represents a fair and reasonable estimate of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums the costs that may become due Landlord will incur by reason of any such late payment. The late charge is in addition to any and all remedies available to Landlord and the assessment and/or collection of the late charge shall not be deemed a waiver by Landlord of such failure or of any other default of Tenant or failure to comply with the terms of under this Lease to be performed by TenantLease. Additionally, all such delinquent Rent, plus any late charge, shall be deemed additional rent bear interest at the rate of nine percent (which9%) per annum, collectively with Base Rentor, shall be deemed if lower, the maximum interest rate permitted by law (as applicable, the RentDefault Rate”), from the date due until paid. If any payment by Tenant is returned due to insufficient funds, Tenant shall pay all related charges and will, if required by Landlord, make all future payments by cashier’s check.

Appears in 1 contract

Sources: Purchase and Sale Agreement

Rent. a. Tenant shall agrees to pay the Landlord as rent for the Premises Base Rent for each demised premises at the rate of Four Thousand Five Hundred Eighty-Three and 33/100 Dollars ($4,583.33) "base rent" per month during the Termin advance. Such amounts One such monthly installment shall be due and payable on or before the Commencement Date beginning date of this lease, and a like monthly installment shall be due and payable on or before the first (1st) day of each succeeding calendar month thereafter, without any deduction or offset and without prior notice or demandduring the term hereof; provided that, in lawful money of the United States of Americaevent the term hereof shall commence or end during a calendar month, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments rent for any fractional calendar month following the commencement or preceding the end of the term of this lease shall be proratedpro rated by days. Concurrently (If percentage rent is to be payable to Landlord, refer to Exhibit A attached to this lease. In such case Exhibit A shall be incorporated into and become a part of this lease when physically attached hereto.) Tenant has deposited with landlord, upon delivery of this lease, Nine Thousand One Hundred Sixty-Six and 66/100 Dollars ($9,166.66) to be applied as follows: (a) $4,583.33 for rent for the month of January, 1990. (b) $4,583.33 as a security deposit. Such security deposit shall be held by Landlord without interest as security for the performance by Tenant of Tenant’s delivery 's covenants and obligations under this lease. The security deposit is not an advance payment of rental or the full measure of liquidated damages in case of default by Tenant. Upon the occurrence of any event of default, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use the security deposit to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of an executed copy of this Leasedefault. Following any such ---------------- 1 Landlord agrees to use its best efforts to vacate the demised premises by December 15, Tenant shall deliver to 1989. If Landlord vacates the Base Rent for demised premises early, the first month commencement date of the Tern. b. As set forth in more detail below, Landlord lease shall be responsible, without additional charge to Tenant, for the maintenance sooner of the Common Areas, exterior areas of date Tenant occupies the Project and base Building mechanical, plumbing and electrical systems serving demised premises or five days after Landlord gives Tenant written notice it may occupy the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 belowdemised premises. Notwithstanding the foregoingabove, in provided that Tenant [illegible]. 2 application of the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Partiessecurity deposit, Tenant shall pay to Landlord, on demand, the entire cost thereof within twenty (20) days amount so applied in order to restore the security deposit to its original amount. If Tenant is not in default, hereunder, any remaining balance of request such deposit shall be returned by Landlord. All amounts required Landlord to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant upon expiration or failure to comply with the terms termination of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)lease.

Appears in 1 contract

Sources: Net Commercial Lease Agreement (Carpenter W R North America Inc)

Rent. a. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and 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 pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord as rent for by Tenant under this Lease. Such payments shall be paid concurrently with the Premises payments of the Rent on which the tax is based. Base Rent and Additional Rent for each month calendar year or portion thereof during the Lease Term. Such amounts , shall be due and payable on the Commencement Date and in advance in monthly installments on the first (1st) day of each calendar month thereafterduring the Lease Term, without demand by Landlord (any deduction rent statement sent by Landlord to Tenant shall be sent as a courtesy and shall not be binding on Landlord nor limit Landlord's right to correct any such statement at a later date). If the Lease Term commences on a day other than the first day of a month or offset terminates on a day other than the last day of a month, then the installments of Base Rent and without prior notice Additional Rent for such month or demandmonths shall be prorated, based on the number of days in lawful money of the United States of America, at the address indicated such month. All amounts received by Landlord from time to time. Base Rent Tenant hereunder shall be increased during applied first to the Term earliest accrued and unpaid Rent then outstanding. Except as provided for otherwise expressly set forth in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy Section 38 of this Lease, Tenant ▇▇▇▇▇▇'s covenant to pay Rent shall deliver to Landlord the Base Rent for the first month be independent of the Tern. b. As every other covenant set forth in more detail belowthis Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within five (5) days after the same is due and payable hereunder, Landlord a "Late Charge" equal to five (5¢) cents for each dollar so overdue shall be responsibleassessed in order to defray Landlord's additional administrative and other costs in connection with such late payment. Late charges not paid by the first day of the next month shall be deemed Additional Rent. In the event that Tenant is in arrears in payment of Base Rent or Additional Rent or any other charge, Tenant waives Tenant's right, if any, to designate the items against which any payments made by Tenant are to be credited, and ▇▇▇▇▇▇ agrees that Landlord may apply any payments made by Tenant to any items Landlord sees fit, irrespective of and notwithstanding any designation or request by Tenant as to the items against which any such payments shall be credited. Landlord reserves the right, without additional charge liability to Tenant without constituting any claim of constructive eviction, to suspend furnishing or rendering to Tenant any overtime/over standard property, material, labor, utility or other service, wherever Landlord is obligated to furnish or render the same at the expense of Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate that (but only so long as) Tenant is in arrears in paying Base Rent or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant rent due under this Lease other than Lease. In addition, Landlord may (without releasing Tenant from any liability under this Lease) suspend furnishing to Tenant freight elevator service at the time Tenant desires or is obligated to vacate or remove any property from the Premises in the event that Tenant is in arrears in paying any Base RentRent or additional rent due under this Lease, including any and all other sums that may become due by reason unless the dispute is the subject of any default of Tenant good faith litigation or failure to comply arbitration. C. The Additional Rent payable hereunder shall be adjusted from time-to-time in accordance with the terms provisions of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)Exhibit C attached hereto.

Appears in 1 contract

Sources: Office Lease (Monro, Inc.)

Rent. a. Tenant shall pay Landlord as rent for the Premises monthly Base Rent for each month during the Term. Such amounts shall be stated in ---- Section 1(g) hereof and Additional Rent as provided in Section 10 and any other additional payments due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, under this Lease without any deduction or offset and without prior notice or demandoffset, in lawful money of advance (unless otherwise expressly provided) on or before the United States of Americaday specified in Section 1(g), or such other date as is provided in this Lease, to Landlord at the address indicated by noted in Section 1(l) hereof, or to such other party or at such other place as Landlord may hereafter from time to timetime designate in writing. Base Rent for any partial month at the beginning or ending of the Term shall be increased during the Term as provided for in the Basic Lease Informationprorated. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Additional Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid all other sums payable by Tenant under this Lease other are sometimes collectively called "Rent." All payments of Rent not receive by Landlord on or before each respective due date shall bear interest at an annual rate (the "Default Rate") equal to eighteen percent (18%), from the date the Rent is due until paid; provided that if the maximum annual rate of interest permitted by applicable law shall be less than Base the rate of interest provided for herein, then all past due payments shall bear interest at the maximum rate permitted by applicable law from due date until paid. Tenant acknowledges the late payment by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and economically impractical to ascertain. Therefore, if any payment of Rent due from Tenant is not received by Landlord within five (5) days after the due date, Tenant shall pay to Landlord (in addition to the interest above provided) a late charge of One Hundred Dollars ($100.00) or ten percent (10%) of the overdue Rent, including any whichever shall be greater. The parties agree that this late charge represents a fair and all other sums reasonable estimate of the costs that may become due Landlord will incur by reason of late payment by Tenant and is in addition to any interest charges on past due Rent. Acceptance of any late charge shall not constitute a waiver of Tenant's default with respect to the overdue amount nor prevent Landlord from exercising any of Tenant or failure the other rights and remedies available to comply with the terms Landlord. The provisions of this Lease paragraph in no way relieve Tenant of the obligation to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)pay Rent on or before the due dates.

Appears in 1 contract

Sources: Office Lease Agreement (Loudeye Technologies Inc)

Rent. a. Tenant shall pay Landlord as rent for to Landlord: (a) the Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and in equal monthly installments, in advance, on the first (1st) day of each calendar month thereafterduring the Term; and (b) the Additional Rent, at the respective times required hereunder. One monthly installment of Base Rent shall be paid in advance on the date of Tenant's execution of this Lease and applied to the first monthly installment of Base Rent coming due under this Lease. Payment of Base Rent for any partial month shall be prorated for such month. Tenant shall pay the Rent all in accordance with the terms and provisions of this Lease without any deduction or offset and without prior notice or notice, demand, offset or deduction, except as may be expressly provided in this Lease, and in lawful money of the United States of Americaat Landlord's Address for Payment, or at the address indicated by such other place as Landlord shall designate in writing from time to time. Tenant's covenant to pay Rent is independent of any other covenant, condition, provision or agreement of this Lease. All past due installments of Rent shall: (i) be subject to a late charge of five percent (5%) of the past due amounts; provided, however, the first two such past due installments during any twelve-month period shall not be subject to such late charge, so long as Tenant pays each such installment within ten (10) days after Landlord gives written notice that such installment is past due; and (ii) bear interest at the Interest Rate accruing from the due date until paid. The late charge is intended to reimburse Landlord for administrative costs incurred by Landlord as a result of Tenant's late payment, and is not a penalty. On the first annual anniversary of the Commencement Date, and on each and every annual anniversary of the Commencement Date thereafter during the Term, the Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent for the first month of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described specified in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”1.1(F).

Appears in 1 contract

Sources: Lease Agreement (Viryanet LTD)

Rent. a. Tenant shall Beginning on the Rent Commencement Date, Subtenant agrees to pay Landlord as rent for the Premises Base Rent for each month during set forth in Section 1(J) to the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, Payee specified in lawful money of the United States of AmericaSection 1(K), at the address indicated specified in Section 1(L), or to such other payee or at such other address as may be designated by Landlord notice in writing from time Sublandlord to timeSubtenant, without prior demand therefor and without any deduction whatsoever. Base Rent shall be increased during paid in monthly installments in advance on the Term as provided for in first day of each month of the Basic Lease Information. Term, except that the first installment of Base Rent, as so adjusted, Rent shall thereafter be due as provided hereinpaid by Subtenant to Sublandlord upon execution of this Sublease by Subtenant. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord pro-rated for partial months at the Base Rent for the first month beginning and end of the Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay the entire cost thereof within twenty (20) days of request by LandlordTerm. All amounts charges, costs and sums required to be paid by Tenant Subtenant to Sublandlord under this Lease other than Sublease in addition to Base Rent, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, Rent shall be deemed additional rent (which"Additional Rent", and Base Rent and Additional Rent shall hereinafter collectively with Base be referred to as "Rent, ". Subtenant's covenant to pay Rent shall be deemed “Rent”independent of every other covenant in this Sublease. If any item of Rent is not paid within five (5) business days after the same becomes due, Subtenant shall pay, relative to the delinquent payment, (i) for the first two delinquent payments in any twelve (12)-month period, interest on the unpaid amount from the date the same becomes due at the "Maximum Rate" (as such term is defined in the Prime Lease), and (ii) for further delinquent payments within a twelve (12)-month period, (A) a late charge equal to five percent (5%) of the unpaid amount plus (B) interest on the unpaid amount from the date the same becomes due at the Maximum Rate (as such term is defined in the Prime Lease).

Appears in 1 contract

Sources: Sublease (Epocrates Inc)

Rent. a. All obligations of Tenant to make payments to Landlord under this Lease shall constitute Rent. Tenant shall pay Landlord as rent for the Premises Base Rent for each month during at the times and in the manner hereinafter set forth. During the Term. Such amounts , Tenant shall be due pay the Gross Rent, consisting of Net Rent and payable on the Commencement Date Tenant’s Proportionate Share of Estimated Operating Cost and Estimated Impositions, in twelve (12) equal installments on the first (1st) day of each calendar month thereafter, without during each year of the Term and any deduction or offset and without prior notice or demand, extensions thereof. Such payments shall be made in lawful money of the United States of AmericaStates, in advance without demand, and (except as expressly provided herein) without any reduction, abatement, counterclaim or set off, at the address indicated for Landlord specified on the Basic Lease Information sheet or at such other address as may be designated by Landlord from time to time. Base Notwithstanding the foregoing, Gross Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Base Rent abated for the first month of three (3) months immediately following the Tern. b. As set forth in more detail belowTerm Commencement Date; provided, Landlord shall be responsiblehowever, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoingthat, in the event of Tenant’s disproportionate or after-hours use an Event of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant PartiesDefault, Tenant shall pay to Landlord a fractional portion of the entire cost thereof within twenty amount of such abated Gross Rent, in the ratio that (20x) days the number of request by Landlordfull or partial months from the date of default through the originally scheduled Term Expiration Date (without regard to extension under Section 9.01 and not to exceed sixty months) bears to (y) sixty (60) months. All amounts required to (Payment of Additional Rent shall commence on the Term Commencement Date.) If such rent abatement period expires on a day that is not the last day of a calendar month, the Gross Rent due for the portion of such month following such expiration of the rent abatement period shall be prorated on a per diem basis and paid by Tenant under this Lease on the first day of such month. If the Term terminates on other than Base Rentthe last day of a calendar month, including any and all other sums that may become due by reason of any default of Tenant or failure to comply with the terms of this Lease to be performed by Tenant, then Gross Rent provided for such partial month shall be deemed additional rent (which, collectively with Base Rent, shall be deemed “Rent”)equitably prorated on such date of termination.

Appears in 1 contract

Sources: Lease (NewStar Financial, Inc.)

Rent. a. (a) If the Commencement Date is other than the first day of a calendar month, the first monthly installment of Fixed Annual Rent shall be prorated to the end of said calendar month. (b) All rent shall be paid by currently dated, unendorsed check of Tenant, payable to the order of Owner or to an agent designated by Owner, and drawn on a bank or trust company which is a member of the Connecticut Clearing House. (c) Tenant shall pay Landlord as rent the Fixed Annual Rent without notice or demand. If no date shall be set forth herein for the Premises Base Rent for each month during the Term. Such amounts payment of any other sums due Owner, then such sums shall be due and payable on within 10 business days after the Commencement Date date upon which Owner makes written demand for such payment. The Fixed Annual Rent and on the first such other sums due Owner are referred to in this lease as "rent". (1std) day of each calendar month thereafter, without If at any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in term the Basic Lease Information. Base Rentrent, as so adjustedor any part thereof, shall thereafter not be due as provided herein. Base Rent adjustments for fully collectible by reason of any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord law and requirement of an executed copy of this Leasepublic authorities, Tenant shall deliver enter into such agreements and take such actions as Owner may request to Landlord permit Owner to collect the Base Rent for the first month maximum rents which may, during continuance of the Tern. b. As set forth in more detail belowsuch legal rent restrictions, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises legally permissible (but not Tenant’s specialized equipmentin excess of the amounts reserved under this lease), insurance . Upon termination of such rent restriction prior to the Expiration Date (i) the rent shall become and thereafter be payable in accordance with the amounts reserved in this lease for the Projectperiod of the term following such termination, real estate taxes and (ii) Tenant shall pay Owner, if legally permissible, an amount equal to (y) the rent which would have been paid pursuant to this lease but for such legal rent restriction less (z) the rents paid by Tenant for the Projectperiod during which such rent restriction was in effect. (e) If any installment of Fixed Annual Rent is not paid when due, and utilities and janitorial service as described in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12), Tenant’s request for additional services or damage to the Building if any other monies owing by Tenant or any Tenant Partiesare not paid within 10 business days of the date due and payable, Tenant shall pay Owner, without prejudice to any of Owner's rights and remedies, in compensation for the entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rentadditional administrative, including any bookkeeping and all other sums that may become due collection expenses incurred by reason of such overdue sum, a sum calculated by multiplying the late payment by three percentage points above the prime rate or its OFF/MAS/1991 equivalent then established by Chemical Bank, or its successors, dividing the product by 365 and multiplying the quotient by the number of days between the date such payment was due and the date such payment is in fact paid. Nothing herein shall be intended to violate any default applicable law, code or regulation, and in all instances all such charges shall be automatically reduced to any maximum applicable legal rate or charge. Such compensation shall be without prejudice to any of Tenant or failure to comply with the terms of this Lease to be performed Owner's rights and remedies hereunder. (f) If any check tendered by Tenant, shall be deemed additional rent (which, collectively with Base Rentfor any payment due, shall be deemed “Rent”)dishonored by the payor bank, Tenant shall pay Owner, without prejudice to any of Owner's rights and remedies, in compensation for the additional administrative, bookkeeping and collection expenses incurred by reason of such dishonored check, the sum of $100. If during any twelve month period during the term of this lease, two or more checks tendered by Tenant, for any payment due, shall be dishonored by the payor bank, Owner may at any time thereafter require that all future payments of rent by Tenant shall be made by certified or official bank checks.

Appears in 1 contract

Sources: Sublease Agreement (International Telecommunication Data Systems Inc)