Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.
Appears in 2 contracts
Sources: Standard Commercial Industrial Multi Tenant Triple Net Lease (HTG Molecular Diagnostics, Inc), Standard Commercial Industrial Multi Tenant Triple Net Lease (HTG Molecular Diagnostics, Inc)
Rent. 4.1 MONTHLY BASE RENTLessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). The following Schedule shall apply: • June 1st 2011 to December 31stINCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2011 $ 6,000 per month • January 1st 2012 to December 31st2002 THROUGH SEPTEMBER 30, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental 2007.
(b) Rent is due hereunder shall be payable to Lessor by on the first day of each month. Rents received after the tenth (10th) of any month during will include a $25 late fee. Rent not received by the Term last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the address stated herein or to such other persons offices of ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ CONSTRUCTION CO., INC., ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇., KNOXVILLE, TN 37932 or at such other places address as Lessor may from time to time designate to Lessee by notice in writing and shall be paid in lawful money of the United States of Americamanner hereinafter provided. All rent shall be payable to Lessor’s bank account by regular electronic deposittaxes, without prior demand or notice charges, costs and without deduction or set off for counterclaim. The expenses which Lessee further agrees is required to pay Lessorpursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in addition the event of Lessee's failure to the rent as provided hereinpay such amounts, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to damages, costs and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term expenses which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor Lessors may incur by reason of any default of Lessee or failure on Lessee’s continuing default hereunder's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 2 contracts
Sources: Lease Agreement (Acme Television LLC), Lease Agreement (Acme Intermediate Holdings LLC)
Rent. 4.1 MONTHLY BASE RENT. The Concessionaire shall pay, without offset, deduction, prior notice, or demand, as "Minimum Annual Rent” the sum of (ANNUAL RENT AS BID) or the following Schedule percentages of gross receipts, whichever sum is greater: BID PERCENT (_%) of the first five hundred thousand dollars ($500,000) of Monthly Gross Receipts; plus BID PERCENT (_%) of Gross Receipts over five hundred thousand dollars ($500,000); plus BID PERCENT (_%) of fuel and oil sales Upon completion of an additional one hundred and seventy (170) boat slips, or beginning with Contract Year Six (6), whichever occurs first, Concessionaire shall applypay, without offset, deduction, prior notice, or demand, as "Minimum Annual Rent” the following: • June 1st 2011 to December 31st(ANNUAL RENT AS BID) or BID PERCENT (_%) of gross recipts, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by whichever sum is greater; plus BID PERCENT (_%) of fuel and oil sales Beginning with Contract Year Six (6) and on the first day of each month during fifth Contract Year thereafter, the Term at the address stated herein or to such other persons or at such other places Minimum Annual Rent (as Lessor may designate in writing and bid) shall be paid adjusted to reflect changes in the Consumer Price Index (CPI). Such CPI adjustments shall be made in accordance with the procedure set forth in Exhibit G, attached to and made a part of this Contract. Concessionaire shall make payment of Minimum Annual Rent and other payments to State in lawful money of the United States States. However, if any payment made by a check, draft, or money order is returned to State due to insufficient funds or otherwise, State shall have the right, at any time after the return, upon written notice to Concessionaire, to require Concessionaire to make all subsequent payments in cash or by cashier's or certified check. Beginning with the fifteenth (15th) day of Americathe month following the execution of the Contract, and on or before the fifteenth (15th) day of each month thereafter, Concessionaire shall furnish to State a verified statement of the concession’s gross receipts for the preceding month. All rent Such statement shall be payable submitted on Form DPR 54, Concessionaire's Monthly Report of Operation, attached hereto as Exhibit B, or in a format previously approved by the State, and shall specify the current period and cumulative total of gross receipts for the concession through the end of the preceding month for the then current Contract Year. Concessionaire shall also provide such statement for periods of non-operation. Concurrent with such monthly statement, the Concessionaire shall pay to Lessor’s bank account State the appropriate rental fee based on the gross receipts for the preceding calendar month as prescribed above. Payments to State shall be made to the order of the Department of Parks and Recreation and delivered to the District Office identified herein below or at such other location as may from time to time be designated by regular electronic depositState. If, without prior demand at the end of the Contract Year, the total of monthly percentage rental payments made (or notice and without deduction due) during that Contract Year is less than the Minimum Annual Rent required for that Contract Year, the difference shall be remitted to State with the last monthly sales statement for the Contract Year. Payments must be received by State on or before the fifteenth (15th) day of the month as described above. Any late payment shall constitute a breach of contract, giving rise to State's remedies as set off for counterclaimforth below. Further, any late payment will be subject to a late penalty consisting of an administrative charge on the late amount, calculated at the rate of five percent (5%) of the amount of the late payment or portion thereof. The Lessee further agrees parties agree that the late charge represents a fair and reasonable estimate of the costs State will incur because of late payment. Acceptance of the late charge by State shall not constitute a waiver of Concessionaire's default for the overdue amount, nor prevent State from exercising the other rights and remedies granted under this Contract. Concessionaire shall pay the late charge as additional rent with the next monthly rent payment. Any amount due to pay LessorState, if not paid within five (5) days following the due date, will bear interest from the due date until paid at the rate of ten percent (10%) per year. However, interest shall not be payable on late charges incurred by Concessionaire. Payment of interest shall not excuse or cure any default by Concessionaire. Upon written request by the Concessionaire to State demonstrating unusual or extenuating circumstances causing the late payment, the State, in addition its sole discretion, may waive the late charge. Further, in the event Concessionaire is prevented from carrying on the operations contemplated herein by reason of an Act of Nature or other reasons beyond Concessionaire's control, and when requested in writing in advance by Concessionaire, Minimum Rent may be abated in proportion to the amount by which gross receipts are reduced by the occurrence for such period of reduced or non- operation, as determined in the sole discretion of State. If this Contract is terminated by State because of Concessionaire's default, and if Concessionaire becomes liable for any deficiency in rent as and/or fees by way of damages or otherwise, or if at any time during the Contract term Concessionaire ceases to conduct in the Premises the business referred to herein below, then from and after the time of the breach causing this termination, or from and after the time of the cessation of business, all unpaid rent and/or fees prior to the breach causing termination or cessation of business shall become due and payable. The amount due shall be deemed to be the greater of: (a) the Minimum Rent provided herein, all privilege, sales, excise, rental and other taxes or (except income taxesb) imposed now or hereinafter imposed by any governmental authority an amount based upon the rentals and all other amounts herein provided average of the payments that have accrued to be paid by State as percentage rent during the Lessee to twenty-four (24) months preceding the Lessor. Said payment termination or cessation of business, unless the termination or cessation occurs within three (3) years of the beginning of the Contract term, in which event the previous twelve (12) (or fewer, if applicable) months shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in used as the basis of this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderaverage.
Appears in 2 contracts
Sources: Marina Concession Contract, Marina Concession Contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 Sublessee covenants and agrees to December 31stpay a fixed annual rent (“Rent”) in the initial amount of Thirty Two Dollars and Thirty Five Cents ($32.35) per square foot of Rentable Area (as defined in the Master Lease) within the Sublease Premises, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder which shall be due and payable to Lessor by in monthly installments on the first day of each and every calendar month during the Term Term, except the month in which the Commencement Date occurs, in which month Rent shall be due and payable within 15 days of the Commencement Date. The Rent shall increase periodically as provided in the Master Lease such that the Rent for the Sublease Premises is the same per square foot amount as the rent payable under the Master Lease for the Premises at all times during the Term. If this Sublease shall commence on a day other than the first day of a month, or shall expire on a day other than the last day of a month, Rent for such month shall be prorated based on a ratio the numerator of which shall be the number of days during such month that this Sublease was in effect and the denominator of which shall be the total number of days in such month. Rent and other charges herein reserved or payable shall be paid to Sublessor at the address stated herein or to such other persons set forth in the notice section below, or at such other places place as Lessor Sublessor may designate in writing and shall be paid designate, in lawful money of the United States of AmericaAmerica by wire transfer of funds in accordance with the wiring instructions set forth on Exhibit A attached hereto, as and when the same become due and payable, without demand therefor and without any deduction, set-off or abatement whatsoever. All rent shall be sums payable to Lessor’s bank account by regular electronic depositunder this Sublease shall, without prior demand from and after ten (10) business days’ notice that such payment is due, bear interest at the lesser of twelve percent (12%) per annum or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount maximum non-usurious interest rate from the base monthly rental or any other sum date due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderuntil paid.
Appears in 2 contracts
Sources: Sublease (Liberty Latin America Ltd.), Sublease (Liberty Latin America Ltd.)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 to December 31st3.1 Yielding and paying therefore unto the Lessor at its office at ▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, 2011 $ 6,000 per month • January 1st 2012 to December 31st▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, 2012 $ 9,000 per month • January 1st 2013 to December 31st▇.▇., 2013 $ 10,500 per month • January 1st 2014 to December 31st▇▇▇ ▇▇▇, 2014 $ 11,500 per month • January 1st 2015 to November 30thor at such other place as the Lessor may reasonably direct in writing, 2015 $ 13,000 per month The monthly base rental due hereunder shall be rent for Premises in the sum set out hereunder, payable to Lessor by in advance on the first day of each and every month during of the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and follows: The Lessee shall be paid in lawful money responsible for payment of its proportionate share of Operating Expenses and Taxes throughout the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaimTerm. The Lessee further shall pay all amounts due hereunder together with all applicable taxes, including, without limitation, goods and services tax, but shall not pay the Lessor’s. The Lessee covenants and agrees that the failure by the Lessee to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental Lessor the amount of any goods and other taxes (except income taxes) imposed now or hereinafter imposed services tax owing by the Lessee to the Lessor when due hereunder shall constitute a default by the Lessee under this Lease and will entitle the Lessor to exercise any governmental authority upon the rentals and all other amounts herein provided rights and remedies available to the Lessor for the recovery of rent in arrears.
3.2 The Lessor acknowledges receipt from the Lessee of a deposit of $34,740.23 which shall be applied on account of the payment of rent, Operating Expenses and Taxes for the eighth month of the Term. Such sum, or the amount remaining from time to time, shall be held by the Lessor as security for the performance by the Lessee of its obligations under this Lease and may be applied or appropriated by the Lessor to compensate the Lessor as may be required in the event of default by the Lessee under this Lease. Any amount so applied or appropriated shall be forthwith paid by the Lessee to the Lessor. Said payment Lessor to be held by the Lessor pursuant to this section.
3.3 Notwithstanding any other term of this Lease, the Lessee shall not be in addition obliged to pay annual net rent for the 4 months of June, July, August and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure September 2004, and shall govern whether or not the actual gross rentable square footage 3 months of October, November and December 2005 of the Premises is Term; provided, however, the same as set forth in Section 12 hereof. Lessee shall have no right to withholdshall, deduct or offset any amount from the base monthly rental or any during such period, pay its proportionate share of Operating Expenses and Taxes and all other sum amounts due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.
Appears in 1 contract
Sources: Office Lease (Chalk Media Corp)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule (a) Sublessee shall apply: • June 1st 2011 pay to December 31stSublessor as rent for the Subleased Premises, 2011 $ 6,000 the sum of SEVENTY THOUSAND EIGHT HUNDRED DOLLARS ($70,800) per month • January 1st 2012 annum, payable in equal monthly installments of FIVE THOUSAND NINE HUNDRED DOLLARS ($5,900).
(b) Sublessee shall pay to December 31stSublessor, 2012 $ 9,000 per month • January 1st 2013 as additional rent, the proportional share, adjusted on a pro rata basis to December 31stthe number of square feet comprising the Subleased Premises, 2013 $ 10,500 per month • January 1st 2014 of the utilities, Taxes, insurance premium costs, Building Common Area expenses, and Development Common Area expenses as required under (and as defined in) the Master Lease.
(c) In the event of any increase in base rent or other amount payable by Sublessor to December 31stLessor pursuant to the Master Lease, 2014 $ 11,500 per month • January 1st 2015 Sublessee shall pay Sublessor its proportional share of any such increases, adjusted on a pro rata basis to November 30ththe number of square feet comprising the Subleased Premises divided by the number of square feet subject to the Master Lease; provided, 2015 $ 13,000 per month The monthly however, that Sublessee shall have no liability for any such increase resulting from an amendment to the Master Lease effected after the date hereof without Sublessee's written consent.
(d) All payments of base rental due hereunder rent, any additional rent and any other amount required to be made by Sublessee shall be payable to Lessor by paid in advance on the first day of each calendar month during of the Term term of this Sublease (to the extent ascertainable as of such date) and shall be payable without notice or demand, and without any deduction, offset or abatement, in lawful money of the United States of America to Sublessor at the address stated herein herein, or to such other persons or at such other places as Lessor Sublessor may designate in writing and writing. Any such payment not ascertainable as of the first day of each calendar month of the term of this Sublease shall be paid in lawful money by Sublessee within ten (10) days after its receipt of a written invoice from Sublessor, including reasonable supporting documentation, for such amount. The rent for any partial month during which the United States term of America. All rent this Sublease commences or terminates shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderequitably prorated.
Appears in 1 contract
Sources: Stock Purchase Agreement (Iomed Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 8.0.1 Tenant covenants and agrees to December 31stpay to Lessor, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder as rent for the Premises the Fixed Rent set forth in Section 2.0.7.
8.0.2 Fixed Rent shall be payable to Lessor by without deduction or setoff in equal monthly installments in advance on the first day of each full calendar month during the Term, the first such payment to include any prorated Fixed Rent for the period from the date of the commencement of the Term to the first day of the first calendar month in the Term. The first such payment of the Fixed Rent shall be due and payable on August 1, 1999.
8.0.3 A rental year shall consist of twelve (12) calendar months, beginning on the first day of the first full calendar month of the Term ("Rental Year"). The First Rental Year shall include the period from the date of the commencement of the Term to the first day of the first full calendar month in the Term. Any portion of the Term remaining at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money end of the United States of America. All rent last full Rental Year shall be payable to Lessor’s bank account by regular electronic depositconstitute the final Rental Year, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment charges shall be in addition apportioned therefor.
8.0.4 It is understood and agreed that the basic consideration for this Lease is Tenant's covenant to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not pay the actual gross rentable square footage total sum of the Premises is the same as Fixed Rent set forth in Section 12 hereof2.0.7 for the original Term, and other amounts payable by Tenant hereunder. Lessee shall have no right The reason that the rates of installments may differ is to withhold, deduct or offset any amount defer payment of some of the rent from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage early part of the Premises Term to the latter part for the convenience of the Tenant. Under these circumstances, it is less than not contemplated that any governmental rent control or freeze will excuse Tenant from paying any part of the rent as agreed.
8.0.5 All rent and other amounts payable by Tenant hereunder shall be paid to Lessor without demand or deduction at the Lessor's Notice Address set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” 2.0.12 or such other place as used herein, unless otherwise specified, shall refer collectively Lessor from time to time may designate.
8.0.6 Anything in this Lease to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent contrary notwithstanding, at Lessor's option, Tenant shall be paid without deductionpay, offsetas additional rent, prior notice or demand, and Lessor’s acceptance a late charge in the amount of Fifty ($50.00) Dollars for any rent payment that is for less than not made within seven (7) days after the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of date thereof to cover the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderextra expense involved in handling delinquent payments.
Appears in 1 contract
Sources: Premises Lease Agreement (Centra Financial Holdings Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule 2.1 During the lease Tenant shall applypay and Owner shall accept a rental as follows: • June 1st 2011 to Rental Period Rent ------------------------------------ ---------------- December 31st1, 2011 $ 6,000 2001 - November 31, 2002 $1,875 per month • January 1st 2012 to December 31st1, 2012 $ 9,000 2002 - November 31, 2003 $2,250 per month • January 1st 2013 to December 31st1, 2013 $ 10,500 2003 - November 31, 2004 $2,625 per month • January 1st 2014 to December 31st1, 2014 $ 11,500 per month • January 1st 2015 to 2004 - November 30th31, 2015 $ 13,000 2005 $3,000 per month The monthly base rental for each month beginning on December 1, 2005 and the rental for any extended term if the term of the of this lease is extended beyond the original term, shall be Three Thousand Dollars ($3,000.00) per month or, if greater, the amount determined by multiplying the rental for each month of the prior year by a fraction, the numerator of which is the Consumers Price Index United States - All Items, for January of the fourth and fifth year or each year of the extended term, and the denominator of which is such index figure on the same base, for January of 2004, provided that such fraction shall never be less than one (1).
2.2 In addition to these rental payments, Tenant shall pay when due, as additional rent, all other amounts to be paid by Tenant under this lease.
2.3 It is the intention of Owner and Tenant that the rent paid under this lease shall be net to Owner and that each year during the term of the lease all costs, expenses and obligations of every kind relating to the premises (except as otherwise specifically provided in this lease) which may arise or become due hereunder during the term of this lease shall be paid by Tenant, and that Owner shall be indemnified by Tenant against such costs, expenses and obligations.
2.4 All payments of rent shall be made by Tenant to Owner without notice or demand, at such place within the United States as Owner may from time to time designate in writing. For the present Owner designates Owner's address stated in or pursuant to the Notices provisions of this lease as the place for making the payments of rent. All rents shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money legal tender of the United States as the same is then constituted.
2.5 A late fee will accrue at the rate of Americatwelve percent (12%) per annum on all delinquent rent and other amounts due from Tenant. All rent Such late fee shall be immediately due and payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the as additional rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in under this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderlease.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder (a) Annual fixed rent on the Leased Property during the initial Lease Term and the First Extended Term shall be payable Seventy Five Thousand Dollars ($75,000) per year, which Tenant agrees to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid pay in lawful money of the United States in equal monthly installments of AmericaSix Thousand Two Hundred Fifty Dollars ($6,250) in advance on the first day of each month at the office of Landlord or such other place as Landlord may designate in writing. All rent and other amounts due hereunder shall be prorated for any partial month during which Tenant occupies the Leased Property.
(b) Tenant shall pay Additional Rent as such may become due and payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice Tenant under this Lease. Landlord shall have the same rights and without deduction or set off remedies for counterclaim. The Lessee further agrees Tenant's failure to pay Lessorany Additional Rent as for Tenant's failure to pay the fixed rent in accordance with Section 2.4(a).
(c) Except as otherwise provided in the Lease, in addition Tenant's obligation to the pay all fixed rent as provided herein, all privilege, sales, excise, rental payable hereunder shall be absolute and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals unconditional and all other amounts herein provided to shall be paid by the Lessee to the Lessor. Said without notice.
(d) Any liability of Tenant for payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums money required to be paid pursuant to this Lease during the Lease Term (as such Lease Term may be shortened by Lessee early termination as provided for herein) shall survive the termination or expiration thereof. Any and all liabilities or obligations of Landlord to Lessor hereunder. Rent shall be paid without deductionor performed by Landlord pursuant to this Lease during the Lease Term (as such Lease Term may be shortened by early termination as provided for herein) shall survive the termination or expiration thereof.
(e) Notwithstanding the foregoing, offsetthe parties agree that, prior notice or demandpursuant to section VII.B. of the Order In the Matter of ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Site by Mercury Refining Company, Inc. and Lessor’s acceptance MWS New York, Inc., Index No. D3-0001-96-42 (the "Order"), beginning on June 1, 1998 and continuing on the first day of any each month through April 1, 2001, Tenant shall pay $2,084.00 of each monthly installment of the fixed rent payment that is for less than payable to Landlord under Section 2.4(a) of this Lease to the entire amount then currently due hereunder New York State Department of Environmental Conservation (the "DEC") and Tenant shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor pay $2,060.00 of the balance monthly installment of the fixed rent payment which is due or a waiver of any on May 1, 2001 to the DEC. Such payments to the DEC by Tenant shall satisfy Tenant's obligation to pay such portion of the remedies available fixed rent payments to Lessor by reason of Lessee’s continuing default hereunderLandlord.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule Sublessee shall apply: • June 1st 2011 pay to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by Sublessor as Rent on the first day of each month during of the Term Term, without deduction, setoff, notice or demand, at the address stated herein or to such other persons ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇, Attention: Accounting, or at such other places place as Lessor may designate specified by Sublessor:
$1. 85 per rentable square foot per month for Year 1 of the Term, $1.90 per rentable square foot per month for Year 2 of the Term, $1.95 per rentable square foot per month for Year 3 of the Term, $2.00 per rentable square foot per month for Year 4 of the Term. Sublessee shall pay to Sublessor upon execution of this Sublease $6,724.75 as Rent for the first month of the Term and an additional $6,724.75 as a Security Deposit to be treated in writing and the same manner as is outlined in the Master Lease. If the Term begins on a day other than the first day of a month, the Rent for the partial months shall be paid prorated on a per diem basis based on the actual number of days in lawful money the month in which the Sublease commences. If an Event of the United States of America. All Default occurs, Sublessor may require by notice to Sublessee that all subsequent rent shall payments be payable to Lessormade by an automatic payment from Sublessee’s bank account by regular electronic depositto Sublessor’s account, without prior demand cost to Sublessor. Sublessee agrees that if rent or notice any other sum is not paid within five (5) days of when due and without deduction payable pursuant to this Sublease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or set off for counterclaim(b) six percent (6%) of the unpaid rent or other payment. The Lessee further agrees to pay Lessor, in addition to amount of the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided late charge to be paid by the Lessee to the Lessor. Said payment Sublessee shall be in addition reassessed and added to and accompanying Sublessee’s obligation for each monthly rental payment made by Lessee to Lessorsuccessive month until paid. The base rental set forth in provisions of this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage 6 in no way relieve Sublessee of the Premises is obligation to pay rent or other payments on or before the same as set forth date on which they are due, nor do the terms of this Section 6 in Section 12 hereof. Lessee shall have no right any way affect Sublessor’s remedies pursuant to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage Article 19 of the Premises Master Lease in the event said rent or other payment is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderunpaid after date due.
Appears in 1 contract
Sources: Sublease (Phenomix CORP)
Rent. 4.1 MONTHLY BASE RENTLessee shall pay to Lessor as rent for the premises an amount equal to seven (7%) annually of the IDA's gross investment, on a monthly basis, together with sales tax. Th,e IDA's total investment will be no less than $3,500,000 and not greater than $4,000,000. For example, if the IDA's total investment in the premises is $3,500,000, the monthly rent payable will be $20,416 plus sales tax due. The following Schedule shall apply: • June first payment to be due the 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money following Lessee's taking possession of the United States premises. However, Lessee may defer monthly rent payment for a period not to exceed thirty six (36) months to the 1st day of America. All the thirty seventh (37th) month following taking possession, in which case such deferred rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes accrue with an additional three percent (except income taxes3%) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage annually of the Premises is total deferred monthly rent with payments amortized over the same as set forth in Section 12 hereofremainder of the lease term rental payments. Lessee shall have no the right to withholdprepay rent at any time. In the event Lessee exercises this right to prepay rent, deduct or offset any amount the prepaid rent shall be assigned its present day value, together with interest rate based on current ten (10) year treasury note. Additionally, Lessee agrees to reimburse the Lessor the ad valorum taxes and property casualty insurance paid from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage issuance of the Premises certificate of occupancy through date it takes possession. ▇▇▇ agrees to credit portions or all of the lease payments, minus ad valorum taxes and any property insurance obligations, against purchase price subject to the following: Lessor hereby gran ts unto Lessee an option to buy the leased premises, including all improvements contained on the premises at any point during an initial 10 year lea e term, and any extensions or renewals thereof. Lessor agrees that the option purchase price for the leased premises (including all improvements contained on the premises) will be equal to the IDA's total gross investment in the development of the premises (anticipated to be $3,500,000 - $4,000,000) or the appraised value at the time of exercise of option, whichever is less than less. Lessor agrees that if Lessee elects to exercise the option contemplated in this section, Lessee shall be credited a percentage of all lease payments made (reduced by property taxes and insurance paid by ▇▇▇} as set forth in Section 12immediately below.
1. Rent for any period during the Term which is for less than one month shall be a pro rata portion Fifty percent (50%) of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base all rent and any other sums required to be payments paid by Lessee to Lessor hereunder. Rent shall be paid without deductionapplied at such time as Lessee creates, offset, prior notice or demand, fills and Lessor’s acceptance maintains for each annual period twelve (12) full-time positions in ▇▇▇▇▇▇ County;
2. Seventy-five percent (75%) of any al rent payment that is for less than the entire amount then currently due hereunder paid by Lessee shall be only applied at such time as Lessee creates, fills and maintains for each annual period eighteen (18) full-time jobs in ▇▇▇▇▇▇ County;
3. One Hundred percent (100%) of all rent payment paid by Lessee shall be applied at such time as Lessee creates, fills and maintains for each annual period twenty-four (24} full-time jobs in ▇▇▇▇▇▇ County. For every six (6) full time ▇▇▇▇▇▇ County employees employed by Lessee in excess of twenty four (24), not to exceed a cap of a total of thirty six (36), Lessee shall receive an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor additional purchase option credit in the amount of Fifty Thousand Dollars ($50,000) per year for each year the employees are retained, provided the employees are retained for at least five (5) years of the balance initial ten year lease term. At such time as Lessee shall desire to exercise this option, Lessee shall give Lessor written notice thereof. Lessor will, within fourteen (14) days after receipt of such notice, provide a contract for sale at option price, with Lessee paying all closing costs. In addition, such contract for sale shall contain reasonable standard provisions for contracts for similar sales. The consideration for this option is $1.00 at the execution of this agreement. Lessee's failure to remain in good standing (including making timely rent due or a waiver of payments) under the lease shall terminate this option; provided, however, that if Lessee cures any of such default, the remedies available option shall remain. Lessee may assign Lessee's rights under this section to Lessor by reason of Lessee’s continuing default hereunderan affiliate.
Appears in 1 contract
Sources: Commercial Lease
Rent. 4.1 MONTHLY BASE RENT. The following Schedule 3.1 Sublessee shall apply: • June 1st 2011 pay to December 31stSublessor as net monthly rent for the Premises the amounts set forth below, 2011 $ 6,000 per month • January 1st 2012 to December 31stin advance, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by on the first day of each month of the term hereof: Months of Term Monthly Rent -------------- ------------ Until February 28, 1997 $0/month March 1, 1997 - Dec. 31, 1998 $93,725.00/month Jan. 1, 1999 - Dec. 31, 2000 $101,875.00/month Sublessee shall pay Sublessor upon the execution hereof the sum of Ninety-three Thousand Seven Hundred and Twenty Five Dollars ($93,725.00) as rent in advance for the first month due. Rent for any period during the Term term hereof which is for less than one month shall be prorated. Rent shall be payable in advance on the 1st day of each month during the term, without notice or demand without any deduction, offset, or abatement (except to the extent expressly permitted by this Sublease) in lawful money of the United States of America to Sublessor at the address stated herein or to such other persons or at such other places as Lessor Sublessor may designate in writing and writing.
3.2 Notwithstanding anything to the contrary in this Sublease, Sublessee shall not be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees required to pay Lessorany Impositions, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental maintenance charges or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than charges, costs or expenses that set forth in Section 12. Rent for any period during the Term which is for less than one month shall may be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee Sublessee under the terms of this Sublease (except utilities for the Premises) until rent commencement or March 1, 1997, whichever comes first. Sublessee recognizes its obligations to Lessor hereunderpay Sublessee's liability insurance premiums as required after the Commencement Date.
3.3 Sublessee hereby acknowledges that late payment by Sublessee to Sublessor of rent and other sums due hereunder will cause Sublessor to incur costs not contemplated by this Sublease, the exact amount of which will be difficult to ascertain. Rent shall be paid without deductionSuch costs include, offsetbut are not limited to, prior notice or demandprocessing and accounting charges, and Lessor’s acceptance of any rent payment that is for less than late charges which may be imposed on Sublessor by the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor terms of the balance Lease. Accordingly, if any installment of rent or other sums due from Sublessee is not received by Sublessor within five (5) business days after its due date, Sublessee shall pay to Sublessor a late charge equal to five percent (5%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the rent due or costs Sublessor will incur by reason of late payment by Sublessee based upon the circumstances existing as of the date of this Sublease. Acceptance of such late charge by Sublessor shall in no event constitute a waiver of Sublessee's default with respect to such overdue amount, nor prevent Sublessor from exercising any of the its other rights or remedies available granted to Lessor it by reason of Lessee’s continuing default hereunder.law or
Appears in 1 contract
Sources: Lease (Accelgraphics Inc)
Rent. 4.1 MONTHLY BASE RENTSection 3.01. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base annual minimum rental due hereunder shall be payable to Lessor by the first day of each month during the Term shall be as follows:
(A) During the First through Fifth Years of the Term of this Lease: ONE HUNDRED EIGHTY THOUSAND AND 00/100 ($180,000.00) DOLLARS per annum - FIFTEEN THOUSAND AND 00/100 ($15,000.00) DOLLARS per month; and
(B) During the balance of the Term of this Lease: TWO HUNDRED TWENTY FIVE THOUSAND AND 00/100 ($225,000.00) DOLLARS per annum - EIGHTEEN THOUSAND SEVEN HUNDRED FIFTY AND 00/100 ($18,750.00) DOLLARS per month. Notwithstanding anything to the contrary set forth herein, Tenant's obligation to pay annual minimum rent shall commence thirty (30) days following the Commencement Date. Tenant shall have the right, within thirty (30) days following the Commencement Date, to have a licensed independent architect, mutually acceptable to Landlord and Tenant, measure the Demised Premises for the purpose of determining the actual square footage of the Demised Premises. In the event that the actual square footage of the Demised Premises varies by more than 250 square feet from the square footage referenced in Section 1.01(a) of the Lease, the annual minimum rental shall be increased or decreased, as the case may be, so that the annual minimum rental payable during the initial Term shall be at the address stated herein or rate of $10.00 per square foot during the First through the Fifth years of the initial Term and $12.50 per square foot during the balance of the initial Term, based upon the total actual square footage of the Demised Premises. Tenant agrees to such other persons or at such other places as Lessor may designate in writing and shall be paid pay to Landlord the annual minimum rent specified above in lawful money of the United States in equal monthly installments, in advance, on the first day of America. All rent shall be payable each calendar month during the Term hereof at the office of Landlord or such other place or to Lessor’s bank account by regular electronic depositsuch other person or party as Landlord may designate, without prior demand or notice therefor and without any setoff or deduction whatsoever, except as herein provided. Unless and until Landlord otherwise designates in writing all annual minimum rent and additional rent accruing hereunder shall be paid to National Realty & Development Corp. at ▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇. Annual minimum rent and additional rent shall be prorated for a fraction of a month, if any, based on the number of days within such fractional month.
Section 3.02. All taxes, charges, costs and expenses which Tenant assumes or set off for counterclaim. The Lessee further agrees to pay Lessorunder any provision of this Lease, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by together with any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withholdsums which may become due, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing any default hereunderof Tenant or failure on Tenant's part to comply with the provisions, covenants and conditions of this Lease on Tenant's part to be performed, and each or any of them, shall be collectible and recoverable as additional rent, and, in the event of nonpayment thereof, Landlord shall have all the rights and remedies herein provided as in the case of nonpayment of annual minimum rent.
Appears in 1 contract
Sources: Lease (Programmers Paradise Inc)
Rent. 4.1 MONTHLY BASE RENT(a) The Tenant shall pay all rent and other charges to be paid by the Tenant hereunder to the Authority at the office of the Authority in Richmond, Virginia, or to such other individual, firm or corporation and at such other place as may be designated by the Authority. Tenant agrees to pay the Security Deposit and the first month’s rent to reserve the lab. If the Tenant does not occupy the space, then these monies are forfeited to the Authority and this Sublease is terminated with Tenant having no further obligations to the Authority.
(b) The following Schedule Tenant shall apply: • June 1st 2011 to December 31stpay a monthly rent (the “Monthly Rent”) without notice, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder demand or setoff during the term hereof based upon an initial total annual rent of $22,740.00. No reduction or increase in rent shall be available for non-material discrepancies in actual square footage. During the Initial Term the Monthly Rent shall be $1,895.00 per month. After the Initial Term, the Monthly rent shall be increased annually as of the date the first payment of each Sublease Year is due beginning with the second Sublease Year by an amount equal to 3% of the last Monthly Rent payable during the preceding Sublease year.
(c) The Monthly Rent is to Lessor by be payable in advance on the first day of each calendar month during the Term term hereof without notice or demand and without setoff and it is to be received at the address stated herein or to such other persons or at such other places as Lessor may designate Authority’s offices within five (5) days after the first day of each rental month. If the Monthly Rent is not received in writing and the Authority's office within five (5) days after the first day of each rental month, there shall be paid in lawful money imposed upon the Tenant a late charge equal to 5% of the United States monthly rental amount and the total outstanding balance will be assessed an interest rate equivalent to 12% per annum. If the Commencement Date is not the first day of America. a calendar month, the Tenant shall pay on the first day of the first calendar month following the Commencement Date a proportionate amount of the monthly Rent for the period of time from the Commencement Date to the date on which such first monthly payment is due.
(d) All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice amounts and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, charges in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided Monthly Rent required to be paid by the Lessee to Tenant in accordance with the Lessor. Said payment terms hereof shall be in addition deemed to and accompanying each monthly rental payment made by Lessee to Lessorbe additional rent (the "Additional Rent"). The base rental set forth Such amounts or charges, if not paid at the time provided in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withholdSublease, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of collectible as Additional Rent with the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance next installment of the rent due and payable hereunder; provided, however, that nothing herein contained shall be deemed to suspend or a waiver of delay the time for any payment to be made by the Tenant hereunder or to limit any other remedy of the remedies available to Lessor by reason of Lessee’s continuing default hereunderAuthority.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule a. For and during the term of this Agreement, Lessee shall apply: • June 1st 2011 to December 31stpay Lessor as rent for the Premises a total rental of $ 63240, 2011 payable in 12 equal monthly ----- installments of $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be 5270 each payable to Lessor by in advance of the first day of each calendar ---- month after the commencement of the term, or a daily prorated amount for any partial calendar month during the Term at term. If any payment of rent or other charge- off due under this Agreement is not received within five (5) calendar days after its due date, the address stated herein or to such other persons or at such other places Lessee will also pay, as Lessor may designate in writing and additional rent, a late payment charge which shall be paid in lawful money an amount equal to 10% of any amount owed to Lessor or $50 whichever is greater. See attached Lease and Services Rebate Rider for base monthly rental for this term which dictates a base monthly rent of $4,100.
b. It is additionally specifically covenanted and agreed that the United States financial terms of Americathis Agreement are strictly confidential and Lessee agrees not to knowingly or willfully divulge this information to or any other Lessee or potential Lessee of Lessor. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid Any such disclosure by the Lessee to of the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental financial terms of this Agreement as set forth in herein above, shall constitute a material breach of this Section 4.1 is a negotiated figure and shall govern whether or not Lease.
c. The first such payment of rental as well as the actual gross rentable square footage payment of the Premises is the same Deposit as set forth in Section 12 hereofbelow shall be billed by Lessor simultaneously with execution of this Agreement. Should the Lessee fail to make such payment prior to the commencement of the term of this Agreement, then, at Lessor's sole option, the Agreement shall have be null and void and of no right further effect. Tenants existing security deposit will be applied to withholdthe security deposit required for this Agreement.
d. Rent charges are based on the value of the rental Premises and services to be used by five (5) person(s) only. If more than said number of person(s) habitually use the Premises or services, deduct or offset the Fixed Monthly Rental Charges will be increased by a factor of $100 for each additional person who habitually uses the Premises.
e. If a Lessee check is returned for any amount from reason, Lessee will pay an additional charge of $100.00 per returned check and, for the base monthly rental or any other sum due hereunder even purpose of considering default and/or late charges, it will be as if the actual gross rentable square footage of payment represented by the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderreturned check had never been made.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT(a) Beginning on the Commencement Date, Subtenant agrees to pay, as gross rent for the Premises the (“Rent”), the monthly rent set forth in the table below. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder All payments of Rent shall be payable made to Lessor by the first day of each month during the Term Sublandlord at the Sublandlord’s address stated herein set forth in the opening paragraph of this Sublease, or to such other persons payee or at such other places address as Lessor may designate be designated by notice in writing and shall be paid in lawful money of the United States of America. All rent shall be payable from Sublandlord to Lessor’s bank account by regular electronic depositSubtenant, without prior demand or notice therefor and without any setoff or deduction or set off whatsoever. January 1, 2018 – December 31, 2018 $ 156,850.50 $ 13,070.88 January 1, 2019 – December 31, 2019 $ 159,926.00 $ 13,327.17 January 1, 2020 – December 31, 2020 $ 163,001.50 $ 13,583.46 January 1, 2021 – July 31, 2021 $ 96,878.25 * $ 13,839.75 * Prorated for counterclaim. The Lessee further agrees partial year
(b) Notwithstanding the foregoing, Rent shall be 100% abated for the first month of the Term, such that the first installment of Rent shall be payable on February 1, 2018.
(c) Subtenant’s covenant to pay LessorRent shall be independent of every other covenant in this Sublease. If Rent is not paid when due, in addition Subtenant shall pay, relative to the rent as provided hereindelinquent payment, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee an amount equal to the Lessorsum which would be payable by Sublandlord to Master Landlord for an equivalent delinquency under the Master Lease. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether To the extent Subtenant’s specific use or not the actual gross rentable square footage occupancy of the Premises is gives rise to any additional charges from Master Landlord to Sublandlord, pursuant to the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage terms of the Master Lease, Subtenant shall, upon demand, directly pay to Master Landlord, or reimburse Sublandlord, an amount equal to such charges.
(d) Subtenant shall also pay, as and when due, all taxes and assessments levied against trade fixtures, alterations, additions, improvements, inventories and other personal property located at the Premises is less than and/or installed or maintained on the Premises by Subtenant; and, promptly following request therefor from Sublandlord, Subtenant shall provide Sublandlord copies of receipts for payment of all such taxes and assessments. To the extent any such taxes or assessments are not separately assessed or billed to Subtenant, Subtenant shall pay the amount thereof as invoiced by Sublandlord.
(e) Except for utilities that set forth in Section 12. Rent for any period during are the Term which is for less than one month shall be a pro rata portion responsibility of the monthly installment. The term “rent” as used hereinMaster Landlord under the Master Lease, unless otherwise specified, Subtenant shall refer collectively to transfer all utilities for the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account Premises into its name and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderpay all charges for such utilities as they become due.
Appears in 1 contract
Sources: Sublease Agreement (Savara Inc)
Rent. 4.1 MONTHLY BASE RENTLessee shall pay Lessor (a) the rental installments (“Basic Rent”) as and when specified in each Schedule, without demand, and (b) all of the other amounts payable in accordance with this Lease, such Schedule and/or any of the other Lease Documents (“Other Payments”, and together with the Basic Rent, collectively, the "Rent"). The following Upon Lessee’s execution thereof, the related Schedule shall apply: • June 1st 2011 constitute a non-cancelable net lease, and Lessee's obligation to December 31stpay Rent, 2011 $ 6,000 per month • January 1st 2012 and otherwise to December 31stperform its obligations under or with respect to such Schedule and all of the other Lease Documents, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder are and shall be payable to Lessor absolute and unconditional and shall not be affected by any circumstances whatsoever, including any right of setoff, counterclaim, recoupment, deduction, defense or other right which Lessee may have against Lessor, the first day manufacturer or vendor of each month during the Term at Equipment (the address stated herein "Suppliers"), or to such other persons or at such other places as Lessor may designate in writing and anyone else, for any reason whatsoever (each, an “Abatement”). Lessee agrees that all Rent shall be paid in lawful money accordance with Lessor’s or Assignee’s written direction. Time is of the United States essence. If any Rent is not received by Lessor within five (5) calendar days of America. All rent shall be payable to the due date (or the next business day if the 5th day of such grace period is a Saturday, Sunday, or legal holiday for commercial banks under the laws of the state of the Lessor’s bank account by regular electronic depositnotice address), without prior demand or notice and without deduction or set off for counterclaimLessee shall pay a late charge equal to ten (10%) percent of the amount (the “Late Fee”). The Lessee further agrees to pay LessorIn addition, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by event that any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum amount due hereunder even if is not processed or is returned on the actual gross rentable square footage basis of insufficient funds, upon demand, Lessee shall pay Lessor a charge equal to five (5%) percent of the Premises is less than that set forth in Section 12amount of such payment. Rent for any period during Lessor will have the Term which is for less than one month shall be option to charge Lessee a pro rata portion surcharge of 1% of the monthly installmentpayment amount per month for every 0.25% that the prime rate of Comerica Bank exceeds 3.25%. The term “rent” as used hereinsurcharge will be calculated on July 1, unless otherwise specified2022 and January 1, shall refer collectively 2023, and on each July 1 and January 1 thereafter. This surcharge will be added to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Basic Rent shall be paid without deduction, offset, prior notice or demanddue under the Lease, and Lessor’s acceptance of any rent be due and payable with the next regularly scheduled Basic Rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance under such Schedule and on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereundereach payment date thereafter.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENTA. Tenant shall pay to Landlord the following rent under this Lease:
1. Commencing on the Lease Commencement Date, base rent (“Base Rent”) payable in advance in equal monthly installments (“Monthly Base Rent”) pursuant to the schedule below. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder first installment of Monthly Base Rent shall be due and payable on the execution of this Lease in an amount equal to Lessor by a full month’s installment, and the remaining successive installments shall be due and payable on the first day of each calendar month during the Term at Term. If the address stated herein or to such Rent Commencement Date occurs on a day other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money than the first day of a month, Base Rent from the Rent Commencement Date until the first day of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one following month shall be a pro rata portion prorated at the rate of one-thirtieth (1/30) of the monthly Monthly Base Rent for each day, and any excess paid as the first installment on the execution of this Lease shall be credited toward the second installment. The term 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 (“rent” Additional Rent”) consisting of all other sums of money as used hereinshall become due from Tenant under this Lease.
3. All Base Rent and Additional Rent payable under this Lease shall be collectively referred to herein as “Rent.”
B. Tenant shall pay all Rent without demand, unless otherwise specifieddeduction, shall refer collectively set-off or counterclaim. If Tenant fails to the monthly base rent and make any payment of Rent or other sums required to be paid by Lessee to Lessor hereunder. Rent Landlord hereunder within five (5) business days of any payment 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 amount due to cover Landlord’s administrative expenses, and interest until paid at the Default Rate provided under this 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 paid without deductionthe highest permissible by such laws. For default in the payment of Additional Rent, offsetLandlord shall have the same remedies as for a default in the payment of Base Rent. If Landlord shall at any time or times accept any Rent after it has become due and payable, prior notice or demand, and Lessor’s such acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not excuse delay at subsequent times, nor constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of LesseeLandlord’s continuing default hereunderrights under this Lease.
Appears in 1 contract
Sources: Lease (MPC Corp)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 a. Lessee covenants to December 31stpay to the Town without prior notice or demand thereof, 2011 $ 6,000 and without any deductions or set-offs whatsoever, rent for the Premises (the “Rent”) in the initial annual sum of THIRTY FOUR THOUSAND SEVEN HUNDRED FORTY AND 00/100 DOLLARS ($34,740.00) per month • January 1st 2012 to December 31styear, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder which shall be payable in equal monthly installment of TWO THOUSAND EIGHT HUNDRED NINETY-FIVE AND 00/100 DOLLARS ($2,895.00) . The first Rent payment shall be made within sixty (60) days of the Commencement Date and shall include all Rent due through the date of payment. On each anniversary of the Commencement Date, the Rent shall be automatically increased by three percent (3%) of the then current Rent. In addition to all other remedies provided in this Lease, if Lessee fails to pay within twenty (20) days of the due date, to Lessor by any Rent, additional fees or other payments as hereinafter provided, Lessee shall pay to Lessor, as an additional fee, a late payment fee equal to five percent (5%) of such delinquent payment for each and every month or part thereof that such payment remains unpaid or not paid in full.
b. Town and ▇▇▇▇▇▇ agree that the first day monthly installment of each month during Rent shall be paid upon the Term execution of this Lease by ▇▇▇▇▇▇. Subsequent payments of monthly installments of Rent shall be paid to the Town at the Town’s address stated herein established in Section 17 hereof or to such other persons person, firm or at such other places place as Lessor the Town may from time to time designate in writing and on or before the fifth (5th) day of each month. Lessee shall be paid require receipt of a validly completed IRS approved W-9 form (or its equivalent) prior to paying any Rent or any other amount(s) due under this Lease.
c. Lessee, in lawful money participation with other lessees of space on the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositWater Tower, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively costs of structural upgrades to the monthly base rent and any other sums required to be paid Water Tower as outlined in the proposal from Tower Engineering Professionals, attached hereto as Exhibit C. It is anticipated that the portion payable by Lessee to Lessor hereunder. Rent shall total ] which shall be paid without deduction, offset, prior notice or demand, and Lessordue no later than sixty (60) days after receipt by Lessee of Town’s acceptance of any rent payment that is invoice for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereundersame.
Appears in 1 contract
Sources: Lease Agreement
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 In consideration of the mutual obligations and benefits set forth herein, the Tenant covenants and agrees to December 31stpay the City the minimum rent (hereinafter referred to as the "Minimum Rent") for the Premises and the additional rent (hereinafter referred to as the "Additional Rent") as hereinafter set forth, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The payable in equal monthly base rental due hereunder shall be payable to Lessor by installments on the first day of each calendar month during the Term at Term. (Minimum Rent and Additional Rent may hereinafter be collectively referred to as the address stated herein or "Rent").
(a) Commencing on the Effective Date, the Tenant agrees to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of pay to the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositCity, without prior demand or notice and without deduction or offset whatsoever, in twelve (12) equal monthly installments, on the first day of each calendar month, the Annual Minimum Rent as hereinafter set off for counterclaim. forth: 1 through 5 (2018) $12,435 6 through 10 (2023) $13,057 11 through 15 (2028) $13,710 16 through 20 (2033) $14,395 21 through 25 (2038) $15,115 26 through 30 (2043) $15,871 The Lessee further agrees to pay Lessor, foregoing Minimum Annual Rent figures do not include sales tax on Rent which shall be paid by Tenant in addition to the rent Rent as provided hereinbelow in Section 3(c).
(b) If the Effective Date or Termination Date shall be other than the first day of the month, then Rent, taxes, assessments, and other charges shall be prorated to the Effective Date or Termination Date and Rent for the first (partial) month shall be paid on the Effective Date.
(c) Tenant agrees to pay, before delinquency, any and all privilegetaxes and assessments of whatever kind or nature levied or assessed and which become payable during the Term upon Tenant's equipment, furniture, fixtures and other Tenant personal property, and any improvements erected by Tenant, located on the Premises. Tenant shall also pay any and all sales, exciseuse, excise or similar taxes which are imposed upon, arise from, or relate in any way to, the leasehold herein conveyed or the rental payments required hereunder.
(d) Rent will be paid to the City at the place designated for the City to receive notices, or at such other place the City may specify in writing.
(e) The City and Tenant acknowledge that the Property was previously held by the City as dedicated public right of way that was vacated by the City. Effective upon the vacation, the subsequent ownership of the western half portion of Seventh Street transferred to the Tenant, who immediately deeded that portion adjacent to the Tenant’s property, to the City. In consideration for Tenant’s transfer of the described right of way area to the City, a credit in the amount of $1,203,200.00 / $564,000.00 (“Rent Credit”) which is calculated to be the reasonable value of the right of way as of the date of the right of way vacation, shall be applied against the Minimum Rent owed to City by Tenant until such time that the Rent Credit has been reduced to zero. The Rent Credit shall only be applied towards Minimum Rent as it may become due from time to time and shall NOT be applied towards Additional Rent or any other amounts that Tenant may owe to the City for any reason, or to any other fees or taxes (except income taxes) imposed now or hereinafter imposed that may be assessed against the Premises by any governmental authority upon the rentals and all agency or regulatory entity. Notwithstanding any other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth provisions contained in this Section 4.1 Lease, in the event that this Lease expires or is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent terminated for any period during the Term which is for less than one month shall be reason and a pro rata Rent Credit remains, no refund of any portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent Credit shall be paid without deduction, offset, prior notice or demand, due and Lessor’s acceptance of any rent payment that is for less than owing to Tenant by the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderCity.
Appears in 1 contract
Sources: Ground Lease
Rent. 4.1 MONTHLY BASE RENT(a) During the first year of the Term, Lessee shall pay to Lessor as minimum annual rent the sum of One Hundred Sixty Two Thousand Nine Hundred Dollars ($162,900.00), payable in equal monthly installments of Thirteen Thousand Five Hundred Seventy Five Dollars ($13,575.00) each. The following Schedule Thereafter, commencing upon the fourth anniversary of the Commencement Date, for each Lease year during the Term and any Renewal Term, minimum annual rent shall apply: • June 1st 2011 to December 31stequal the minimum annual rent payable in the immediately preceding Lease year, 2011 $ 6,000 per month • January 1st 2012 to December 31stmultiplied by two and seventy five hundredths percent (2.75%) (e.g., 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base the prior year's rental due hereunder plus an increase of 2.75%). Such minimum annual rent shall be payable to Lessor by in advance, in equal monthly installments on the first day of each calendar month during the Term at the address stated herein term hereof, without demand, offset or to such other persons or at such other places as Lessor may designate in writing deduction, and shall be paid payable in lawful money of the United States of America.
(b) This Lease is intended to be a "triple net" lease. All rent shall be payable to Lessor’s bank account by regular electronic depositAccordingly, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessoras additional rent, all charges for utilities, taxes, assessments and other governmental charges with respect to the Improved Leased Premises and as may be further provided in this Lease. It is the parties' intent that Lessee shall pay all such charges directly. In the event Lessor shall receive any such charges, Lessor shall b▇▇▇ Lessee for any such charges and Lessee shall promptly pay Lessor for such charges upon invoice. In the event of nonpayment of additional rent, Lessor shall have, in addition to the rent as provided hereinall other rights and remedies, all privilege, sales, excise, rental the rights and other taxes (except income taxes) imposed now remedies provided for herein or hereinafter imposed by any governmental authority upon law in the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage case of nonpayment of the Premises is the same as set forth in Section 12 hereof. Lessee minimum rent.
(c) For all purposes under this Lease, rent shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “mean both minimum and additional rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deductiondelivered to Lessor at Lessor's address as set forth above, offset, prior notice or demand, at such other place or to such other person as Lessor may designate in writing from time to time.
(d) Any and Lessor’s acceptance of any all rent payment that is for less than the entire amount then currently due hereunder payments payable under this Lease Agreement shall be only as paid to Lessor at an acceptance on account or accounts maintained at Embassy Bank For The Lehigh Valley.
(e) Lessor shall provide Lessee with a LESSEE improvement allowance of One Hundred and shall not constitute an accord and satisfaction or a waiver by Lessor Fifty Thousand Dollars ($150,000.00) for use exclusively for LESSEE fit out of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderPremises.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule During the continuance of the primary term of this Lease, Lessee shall apply: • June 1st 2011 to December 31stpay the Lessor as its minimum rental charge for rent of said premises the sum of $8,334.00 on the Commencement Date, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by and a like sum on the first (1st) day of each and every month thereafter, monthly in advance, during the Term at primary term of this Lease; i.e., $100,000.00 per year. If the address stated herein or to such Commencement Date is a date other persons or at such other places as Lessor may designate in writing and than the first (1st) day of a month, Lessee, on the Commencement Date, shall pay rent for the fractional month. All subsequent rental payments shall be paid in lawful due and payable on the first (1st) day of each and every month thereafter.
4.2 Lessee shall pay as additional rent any money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided charges required to be paid by the Lessee pursuant to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in terms of this Section 4.1 is a negotiated figure and shall govern Lease, whether or not the actual gross rentable square footage same may be designated "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 rent thereafter falling due, but nothing herein contained shall be deemed to suspend or delay the payment of any amount of money or charge at the time the same becomes due and payable hereunder, or limit any other remedy of Lessor.
4.3 All payments of rent or other money payable to Lessor shall be made to Lessor at P.0. ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇, unless notified otherwise. Payment by check shall not be deemed as payment unless the check is honored forthwith by the bank upon which it is drawn, when presented for payment. Should Lessor not receive any rent or other payment obligation within seven (7) days when due, an automatic late payment administrative assessment of seven percent (7%) per annum on the unpaid amount shall then become due and payable to Lessor, without advance notice.
4.4 In the event Lessee exercises any of its options to renew this Lease, Lessee's annual and monthly rental due under paragraph 4.1 for the option term shall be adjusted to reflect changes in the Consumer Price Index U.S. City Average (1982-1984-100), All Items, for all Urban Consumers Index published by the United States Department of Labour's Bureau of Statistics. Should the Bureau discontinue the publication of the Premises is above Index, or publish the same as set forth less frequently, or alter the same in Section 12 hereofsome other manner, then Lessor shall adopt a substitute index or substitute procedure which reasonably reflects and monitors consumer prices. Lessee The rent shall have no right be adjusted in direct proportion and in the same direction to withhold, deduct or offset any amount from reflect the base monthly rental or any other sum due hereunder even if percentage change in the actual gross rentable square footage Index between the first month of the Premises is primary term and the last month of the primary term, provided however that in no event shall Lessee's minimum monthly and annual rental be over less than that set forth paid in Section 12the primary term. Rent for any period during the Term which is for less than one month The base Index shall be a pro rata portion the published Index for the Commencement Date of the monthly installment. The first year of the primary term “rent” as used hereinof this Lease.
4.5 For example purposes only, unless otherwise specifiedif the primary term of the Lease is five years, shall refer collectively to the monthly base annual rent is $100.00, and any other sums required to the percentage change in the Consumer Price Index (CPI) is 20% between the first month of the primary term and the last month of the primary term, then the annual rent for the option term will be paid $120.00.
4.6 No payment by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver receipt by Lessor of a lesser amount than the monthly rent herein stipulated shall be deemed to be other than on account of the earliest stipulated rent, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent be deemed in accord and satisfaction, and Lessor shall accept such check or payment without prejudice to Lessor's right to recover the balance of the such rent due or a waiver of pursue any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderother remedy provided in this Lease.
Appears in 1 contract
Sources: Lease (Tucows Inc /Pa/)
Rent. 4.1 MONTHLY BASE RENTSublessee shall pay to Sublessor as rent, without deduction, setoff, notice, or demand, at The Gann▇▇ ▇▇▇panies 1254▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇. The following Schedule ▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇. 314-▇▇▇-▇▇▇▇ ▇▇▇.314-▇▇▇-▇▇▇▇ ▇▇ at such other address as Sublessor shall apply: • June 1st 2011 designate from time to December 31sttime by notice to Sublessee, 2011 $ 6,000 the sum of FIVE THOUSAND TWO-HUNDRED AND SEVENTEEN AND 69/100 ($5,217.69) DOLLARS per month • January 1st 2012 to December 31stupon the Commencement Date and until delivery of Tranche B. After delivery of Tranche B, 2012 $ 9,000 the rent will be NINE THOUSAND 36/100 DOLLARS ($9,000.36), which includes the automatic 1998 rent increase in the Master Lease, per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental with the rent payments due hereunder shall be payable to Lessor by on the first day of each calendar month during thereafter for the remainder of the Term. If the Term at begins or ends on a day other than the address stated herein first or to such other persons or at such other places as Lessor may designate in writing and last day of the month, the rent for the partial months shall be prorated on a per diem basis. Rent payable hereunder will be adjusted for increases in Sublessee's pro-rata share of taxes, insurance, common area maintenance (CAM) and all other expenses or charges for which the Tenant is responsible under the Master Lease. Sublessee shall pay Sublessor a late charge of 5% for any payment that is not paid in lawful money by the third day of the United States each month and an interest charge of America8% (per year) on any overdue balances. All rent In addition, Sublessee shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice responsible for obtaining and without deduction or set off paying for counterclaimall separately metered utilities for the Premises and phone/data lines and service. The Lessee further agrees to pay Lessor, in In addition to the rent as provided hereinpayments above, all privilege, sales, excise, rental and other taxes Sublessee shall pay Sublessor the following one time amounts to offset Sublessor's moving costs: On delivery of Tranche A: TWENTY-THOUSAND AND 00/100 DOLLARS (except income taxes$20,000) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage on delivery of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderTranche B: TWELVE THOUSAND AND 00/100 DOLLARS ($12,000).
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENTDuring each month of the term of this Sublease, beginning January 1, 2006, Sublessee hereby agrees to pay to Sublessor Base Rent in the same amount as is owed by Sublessor under the Master Lease. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder No Rent (as hereinafter defined) shall be payable hereunder until January 1, 2006. In addition to Lessor by Base Rent, Sublessee shall pay its proportionate share of real estate taxes and operating expenses and other charges passed through to Sublessor under the first day Master Lease (all, collectively, “Additional Rent”) together with any other charges and payments required of each month during Sublessee hereunder. Sublessee shall pay Sublessor the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing Base Rent and shall be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositAdditional Rent (collectively, “Rent”), without prior demand offset or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance in advance on the first day of any rent payment that each calendar month of the term hereof beginning on January 1, 2006. If the Commencement Date is for less a day other than the entire amount then currently due hereunder first of a month, Rent for the month in which the Commencement Date occurs shall be only prorated. Rent shall be paid to Sublessor at ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇. Where permitted by applicable law, if any payment of Rent is not paid when due, Sublessee shall pay the Sublessor upon demand, as a late charge, an acceptance on account and shall not constitute an accord and satisfaction amount equal to five percent (5%) of each Rent installment, or a waiver by Lessor any part thereof, which is overdue for more than ten (10) days. During the period of the balance of Sublease Term from September 1, 2005, to December 31, 2005, the rent due or a waiver of any of Sublessee shall have no obligation to pay Rent. Utilities for the remedies available period from September 1, 2005, to Lessor December 31, 2005, shall be paid by reason of Lessee’s continuing default hereunder.the Sublessor in an amount not to exceed $1.50 per
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The 5.17.1 LESSEE will pay LESSOR the following Schedule shall applyamounts monthly in advance as rent for the Aircraft (“Rent”): Lease Term: • June 1st 2011 Payable monthly in advance and equal to December 31st, 2011 $ 6,000 the sum of:
(a) per month • expressed in January 2006 U.S. Dollars* *The above base rent is expressed in January 2006 U.S. Dollars and will increase in accordance with Airbus’s announced escalation rates for the period from and including the 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of January 2006 through and including the delivery month of the aircraft, compounded monthly; provided, however, that the escalation of such base rent will not exceed a rate of ***** for each whole year following January 2006 or a proportional part of ***** for such lesser periods.
(b) per month
(c) the “LESSEE Customization Costs” amortized over the Lease Term, together with interest thereon at a rate equal to the Prime Rate in effect at Delivery ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 16 ARTICLE 5 SECURITY DEPOSIT, TRANSACTION FEE, RENT, RESERVES AND OTHER PAYMENTS The “LESSEE Customization Costs” consist of the cost of (i) all agreed-to BFE (whether buyer-furnished equipment or seller-purchased equipment) paid for by LESSOR in place of or in addition to LESSEE’s baseline BFE for the Aircraft as specified in Exhibit A and (ii) all other agreed-to changes to LESSEE’s baseline specification specified in Exhibit A paid for by LESSOR. Any increases to the above base rent will be calculated immediately prior to Delivery.
5.17.2 The first payment of Rent during the Lease Term will be paid no later than three (3) Business Days prior to the Scheduled Delivery Date. Each subsequent payment of Rent will be due monthly thereafter no later than the same day of the month as the Delivery Date of the Aircraft except that, if such day is not a Business Day, the Rent will be due on the immediately preceding Business Day. If Delivery occurred on the 29th, 30th or 31st of the month and in any given month during the Lease Term in which a Rent payment is due there is no such corresponding date, Rent will be payable on the last Business Day of such month. In the event that LESSEE has paid the first payment of Rent three (3) Business Days prior to the Scheduled Delivery Date and Delivery is subsequently delayed for a period in excess of ten (10) days, LESSOR shall return such Rent payment to LESSEE at the address stated herein or to such other persons or at such other places as Lessor may designate LESSEE’s request, unless LESSOR advises LESSEE in writing and shall that the Aircraft will be paid delivered in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes next seven (except income taxes7) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount days from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage date of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereundersuch request.
Appears in 1 contract
Sources: Aircraft Lease Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 a. Lessee covenants to December 31stpay to the Town without prior notice or demand thereof, 2011 $ 6,000 and without any deductions or set-offs whatsoever, rent for the Premises (the “Rent”) in the initial annual sum of THIRTY FOUR THOUSAND SEVEN HUNDRED FORTY AND 00/100 DOLLARS ($34,740.00) per month • January 1st 2012 to December 31styear, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder which shall be payable in equal monthly installment of TWO THOUSAND EIGHT HUNDRED NINETY-FIVE AND 00/100 DOLLARS ($2,895.00) . The first Rent payment shall be made within sixty (60) days of the Commencement Date and shall include all Rent due through the date of payment. On each anniversary of the Commencement Date, the Rent shall be automatically increased by three percent (3%) of the then current Rent. In addition to all other remedies provided in this Lease, if Lessee fails to pay within twenty (20) days of the due date, to Lessor by any Rent, additional fees or other payments as hereinafter provided, Lessee shall pay to Lessor, as an additional fee, a late payment fee equal to five percent (5%) of such delinquent payment for each and every month or part thereof that such payment remains unpaid or not paid in full.
b. Town and Lessee agree that the first day monthly installment of each month during Rent shall be paid upon the Term execution of this Lease by ▇▇▇▇▇▇.. Subsequent payments of monthly installments of Rent shall be paid to the Town at the Town’s address stated herein established in Section 17 hereof or to such other persons person, firm or at such other places place as Lessor the Town may from time to time designate in writing and on or before the fifth (5th) day of each month. Lessee shall be paid require receipt of a validly completed IRS approved W-9 form (or its equivalent) prior to paying any Rent or any other amount(s) due under this Lease.
c. Lessee, in lawful money participation with other lessees of space on the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositWater ▇▇▇▇▇▇, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively costs of structural upgrades to the monthly base rent and any other sums required to be paid Water Tower as outlined in the proposal from ▇▇▇▇▇▇ Engineering Professionals, attached hereto as Exhibit C. It is anticipated that the portion payable by Lessee to Lessor hereunder. Rent shall total One hundred sixty-four thousand seven hundred and 30/100 dollars ($164,700.30) which shall be paid without deduction, offset, prior notice or demand, and Lessordue no later than sixty (60) days after receipt by Lessee of Town’s acceptance of any rent payment that is invoice for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereundersame.
Appears in 1 contract
Sources: Lease Agreement
Rent. 4.1 MONTHLY BASE RENT(a) During the Term, Tenant shall pay to Landlord the amounts set forth in Exhibit C as monthly basic rent for the Premises ("Basic Rent"). The following Schedule Tenant shall applypay Basic Rent to Landlord (or to Landlord's Mortgagee, upon Landlord's request) by wire transfer, in immediately available funds, as follows: • June 1st 2011 Bank: Mellon Bank Pittsburgh, PA ABA Routing #: 043 000 261 Account Number: 101-1730 Account Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ For further credit to: Account No. 586-07125, Account Name: NL Ventures IV Centurion, ▇.▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇ contact: ▇▇▇▇▇ ▇▇▇▇ @ ▇▇▇-▇▇▇-▇▇▇▇, or at such other address or to December 31stsuch other person as Landlord from time to time may designate and in such proportions as Landlord may designate. In no event may there be more than three (3) designees at any one time. Landlord shall give Tenant not less than 15 days' prior written notice of any change in the address to which such payments are to be made. If the party entitled to receive Basic Rent or such party's address shall change, 2011 $ 6,000 per month • January 1st 2012 Tenant may, until receipt of notice of such change from the party entitled to December 31streceive Basic Rent immediately preceding such change, 2012 $ 9,000 per month • January 1st 2013 continue to December 31stpay Basic Rent and additional charges to the party to which, 2013 $ 10,500 per month • January 1st 2014 to December 31stand in the manner in which, 2014 $ 11,500 per month • January 1st 2015 to November 30ththe preceding installment of Basic Rent or additional charges, 2015 $ 13,000 per month The monthly base rental due hereunder as the case may be, was paid. All installments of Basic Rent shall be payable to Lessor by paid in advance on the first day of each month month, except for any Basic Rent due for the rental of the Premises during the Interim Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of America. All rent which shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand in advance on or notice and without deduction or set off for counterclaimbefore the date hereof. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly Any rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is respect of a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be prorated by multiplying the then applicable monthly rental by a pro rata portion fraction the numerator of which is the monthly installmentnumber of days in such month with respect to which rent is being paid and the denominator of which is the total number of days in such month. The term “rent” as used hereinTenant shall perform all its obligations under this Lease at its sole cost and expense, unless otherwise specifiedand shall pay all Basic Rent, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid recurring additional charges when due and payable, without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.
Appears in 1 contract
Sources: Lease Agreement (A21 Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule Lessee shall apply: • June 1st 2011 pay to December 31st, 2011 $ 6,000 Lessor rent for the Premises of Two Thousand Nine Hundred four and no/100ths Dollars ($2,904.00) per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of America. All rent , subject to adjustment or offset, prior notice or demand, at such place as may be designated from time to time by Lessor as follows: $2,904.00 shall be payable to Lessor’s bank account by regular electronic depositpaid upon execution of the Lease, without prior demand or notice and without deduction or set off for counterclaimwhich sum represents the amount of the first month's rent. The Lessee further agrees to pay Lessor, in addition to the rent A deposit of $3,300.00 as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment a Security Deposit shall be in addition to and accompanying each monthly rental payment made by Lessee and held by the Lessor pursuant to Lessor. The base rental set forth in Paragraph 5 of this Section 4.1 is a negotiated figure Lease, and shall govern whether or not the actual gross rentable square footage also be paid upon execution of the Lease. If Lessee is not in default of any provisions of this Lease, this sum, without interest thereon, shall be returned to Lessee after Lessee vacates the Premises is the same as set forth and satisfies all conditions in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage Paragraph 4 of the Premises is less than that set forth Lease. $2,904.00 shall be paid on July 1, 2012 and in Section 12advance of the first (1st) day of each month until May 31, 2013. $3,190.00 shall be paid on June 1, 2013 and in advance of the first (1st) day of each month until May31, 2014. $3,300.00 shall be paid on June 1, 2014 and in advance of the first (1st) day of each month until May 31, 2015. Rent for any period during the Term term hereof which is for less than one (1) full month shall be a pro pro-rata portion of the monthly installmentrent payment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid Lessee acknowledges that late payment by Lessee to Lessor hereunderof 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. Rent shall be paid Such costs include, without deductionlimitation, offset, prior notice or demandprocessing and accounting charges, and Lessor’s acceptance late charges that may be imposed on Lessor by the terms of any encumbrances 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 five (5) days following the date it is due and payable, Lessee shall pay to Lessor an additional sum of five (5%) percent of the overdue amount as a late charge, except for the first failure to make a payment of rent or other amount when due in each lease year of the Lease. Further, in only this event, said late charge will not be imposed until such failure to pay has not occurred within three (3) business days after Lessor has delivered written notice to Lessee that such payment is for less than due. The parties agree that this late charge represents a fair and reasonable estimate of the entire amount then currently due hereunder shall be only as an acceptance on account and costs that Lessor will incur by reason of late payment by Lessee. Acceptance of any late charge shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of Lessee's default with 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 by reason cannot deliver possession of Lessee’s continuing default hereunderthe 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 occupy the Premises prior to the commencement date of this term, such occupancy shall be subject to all of the provisions of this Lease, including the obligation to pay rent at the same monthly rate as that prescribed for the first month of the Lease term.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule A. During the Base Term and any Option Period(s), Tenant shall apply: • June 1st 2011 pay to December 31stLandlord as minimum rent (“Minimum Rent”) for the Demised Premises an annual rental of $ 5.50 per square foot space of 23,000 square foot for a total of One Hundred Twenty Six Thousand Five Hundred Dollars and No One-Hundredths Dollar ($126,500.00) U.S. per year which, 2011 $ 6,000 per month • January 1st 2012 to December 31stexcept as provided herein, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable paid by Tenant in monthly installments of Ten Thousand Five Hundred Forty One Dollars and Sixty Six One-Hundredths Dollar ($10,541.66) in advance on the first (1st) day of each calendar month at the address specified herein for notices to Lessor Landlord, or at such other address as Landlord may from time to time designate to Tenant by notice in the manner provided in Section 21. Except as otherwise provided herein, all Rent shall be paid to Landlord in advance and without demand or setoff by Tenant. Notwithstanding anything contained herein to the contrary:
1) In the event the Rent Commencement Date shall fall on a day other than the first day of the month, the Rent for that month shall be pro-rated based on the number of days during that month which the Tenant occupies the Land, and the Rent for that month shall be due on the Rent Commencement Date.
2) In the event this Lease shall terminate or expire on a day other than the last day of the month, the Rent for that month shall be pro-rated based on the number of days during that month which the Tenant occupies the Land. Further, any Rent paid in advance for a month or months in which the termination or expiration of the Lease occurs, shall be fully refunded to Tenant.
B. The Minimum Rent payable pursuant to this Section 3 shall be increased on the first anniversary of the Rent Commencement Date and on each month anniversary of the Rent Commencement Date thereafter, including any Option Periods, by the product of the Minimum Rent in effect prior to any such increase multiplied by one plus the annual percentage increase in the Consumer Price Index for all Urban Consumers, U.S. City Average, as published by the U.S. Department of Labor Statistics (CPI-U)(1982-1984 equals 100) during the Term at prior one-year period.
C. Except as provided in this Lease, the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay LessorTenant, in addition to the rent as Minimum Rent provided hereinabove, all privilegeshall be responsible for, salesduring the Base Term of the Lease and any Option Periods, exciseif any, rental for the following costs and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee expenditures related to the Lessor. Said payment Land:
1) All real property taxes imposed on the Land by ▇▇▇▇ County or the City of Knoxville, except for the first year of the Lease which shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not prorated between the actual gross rentable square footage parties as of the Premises is Rent Commencement Date;
2) All utilities used with the same as Tenant’s use of the Land which shall include all charges and costs for water, electricity, gas, heat, steam, cable, and sewer charges.
3) Such other charges which are set forth in Section 12 hereof4 of this Lease. Lessee All of the above-enumerated items are hereinafter collectively referred to as the “Additional Rent”. Tenant agrees to indemnify and hold Landlord harmless from all Additional Rent, and any other costs, charges, penalties, interest and expenses related thereto. In the event the Tenant shall not pay the Additional Rent stated above before said amounts shall become delinquent, Landlord shall first give written notice to the Tenant as provided in Section 21 of this Lease. After receiving said notice, Tenant shall promptly pay the delinquent amounts, together with any interest and penalties thereon, within ten (10) business days of receipt. In the event the Tenant shall not pay said amounts within said period, Landlord shall have no the right to withhold, deduct or offset pay said amounts and pursue any amount from and all rights and remedies with respect thereto as Landlord has for the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage nonpayment of the Premises is less than that set forth Minimum Rent.
D. All references in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term this Lease to “rent” as used hereinor “Rent” shall, unless otherwise specified, include Minimum Rent and Additional Rent.
E. Except as provided herein, in the event Tenant shall refer collectively fail to pay any Minimum Rent within five (5) days of when it is due, Tenant shall be liable to the monthly base rent Landlord in an amount equal to ten percent (10%) of the late payment. In the event such Minimum Rent amount and any other sums required penalty remains unpaid for another fifteen (15) days, interest shall begin to be paid by Lessee to Lessor hereunder. accrue on said delinquent Minimum Rent amount at the rate of twelve percent (12%) per annum, and said non-payment, then said non-payment shall be paid without deduction, offset, prior notice or demandan Event of Default (as defined in Section 15), and Lessor’s acceptance of any rent payment that is for less than Landlord shall have the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the right to pursue all remedies available to Lessor by reason of Lessee’s continuing default hereunderprovided in Section 16.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT3.1 The Lessee shall be liable to pay Rent (defined below) to the Lessor on and from 8th November 2022. (“Rent Commencement Date”). The period between the Lease Commencement Date and the Rent Commencement Date shall be considered as a rent free period (“Rent Free Period”) during which period, the Lessee is not required to pay Rent (defined below) and/or other related payments in respect of the Schedule Premises to the Lessor.
3.2 On and from the Rent Commencement Date, the Lessee shall pay to the Lessor monthly rent for the entire Schedule Premises in the following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 manner:
(a) Rs.90/- (Rupees Ninety only) per sq ft per month • January 1st 2012 for the warm shell Schedule Premises (“Office Rent”) for the office space measuring 55,780.37 sq ft which is equivalent to December 31st, 2012 $ 9,000 Rs. 50,20,233.30/- (Rupees Fifty Lakhs Twenty Thousand Two Hundred and Thirty Three Paisa Thirty Only) plus applicable GST subject to applicable tax deducted at source. The Office Rent shall be subject to 15% escalation every three years on the then existing rent.
(b) Rs.3,500/- (Rupees Three Thousand Five Hundred only) per car parking slot per month • January 1st 2013 for Eighty Six (86) exclusive covered car parking spaces (“Car Park Rent”) equivalent to December 31st, 2013 $ 10,500 per month • January 1st 2014 Rs.3,01,000/- (Rupees Three Lakh One Thousand Only) plus applicable GST subject to December 31st, 2014 $ 11,500 per month • January 1st 2015 applicable tax deducted at source.. The Car Park Rent shall not be subject to November 30th, 2015 $ 13,000 per month any escalation throughout the tenure of the lease.
3.3 It is clarified that the Office Rent and Car Park Rent are (together considered as “Rent”). The monthly base rental due hereunder payment of Rent shall be made in advance by the Lessee on or before the 10th of every calendar month. The Lessor shall issue invoices to the Lessee before 3rd of every month. The timely payment of Rent by the Lessee is subject to the receipt of the invoice by 3rd of every month by the Lessor. The Lessor acknowledges that any delay in the submission of invoice by the Lessor will further lead to delay in payment of the Rent by the Lessee and such delay due to the Lessor will not make Lessee liable to pay any interest charges whatsoever. In case of delay in making payment of Rent, the Lessee shall be liable to pay interest @ 18% (eighteen percent) per annum for the period of delay. The Rent for any part of a month will be pro-rated and paid for that portion of the month only.
3.4 If the Lessee has requested for Additional Car Parking Spaces those shall be allotted to Lessee subject to availability, the charges for these shall be discussed and agreed at the time of take up of such slots. In such an event, the Additional Car Park Rent shall also be considered as a part of the Rent payable to the Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and Lessee.
3.5 The Lessee shall be paid in lawful money of entitled to deduct the United States of America. All rent applicable tax at source from the Rent payment and the Lessee shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition promptly provide to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon Lessor the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth prescribed certificate in this Section 4.1 is a negotiated figure regard as per applicable laws.
3.6 The Car Park Rent and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withholdAdditional Car Park Rent, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specifiedpayable, shall refer collectively to not escalate throughout the monthly base rent Lease Term and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderRenewal Term.
Appears in 1 contract
Sources: Lease Agreement (MakeMyTrip LTD)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule 6.1 Subtenant shall apply: • June 1st 2011 pay to December 31stSublandlord without deduction, 2011 $ 6,000 per month • January 1st 2012 setoff, notice or demand at the address for notices to December 31stSublandlord specified in Section 13 of this Sublease, 2012 $ 9,000 per month • January 1st 2013 or at such other place as Sublandlord shall designate from time to December 31sttime by notice to Subtenant, 2013 $ 10,500 per month • January 1st 2014 to December 31stthe Base Rent, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by in advance on the first day of each month during of the Term at Sublease Term. For purposes of this Sublease, annual "Base Rent" shall be Three Hundred Sixty-Four Thousand Nine Hundred Ten and 90/100 ($364,910.90) for the address stated herein or to such other persons or at such other places as Lessor may designate in writing duration of the Sublease Term, and shall be paid to Sublandlord in lawful money equal monthly installments of Thirty Thousand Four Hundred Nine and 24/100 Dollars ($30,409.24). If the United States Sublease Term begins or ends on a day other than the first or last day of America. All rent shall be payable to Lessor’s bank account by regular electronic deposita month, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Base Rent for any period during the Term which is for less than one such partial month shall be prorated on a pro rata portion of per diem basis.
6.2 Except for the monthly installment. The term “rent” as used hereinamounts specified in Section 10.2(b), unless otherwise specifiedall charges, shall refer collectively to the monthly base rent costs and any other sums required to be paid by Lessee Subtenant to Lessor hereunder. Sublandlord under this Sublease in addition to monthly Base Rent shall be paid without deduction, offset, prior notice or demand, deemed "Additional Rent," and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder monthly Base Rent and Additional Rent shall hereinafter collectively be referred to as "Rent." Subtenant's covenant to pay Rent shall be only as an acceptance on account and independent of every other covenant in this Lease. Rent not paid within the three (3) day grace period following each relevant due date shall not constitute an accord and satisfaction or bear (I) a waiver by Lessor late charge equal to five percent (5%) of the balance outstanding amount, plus (ii) interest at a per annum rate equal to the lesser of (a) two percent (2%) above the announced "prime" interest rate published in the Wall Street Journal as of the rent due date of such default, or a waiver (b) the maximum rate of interest which may be collected under any applicable usury law.
6.3 The Master Lease requires Sublandlord to pay to Landlord amounts representing Tenant's Proportionate Share Operating Costs, which share is One Hundred Percent (100%). During the Sublease Term, Subtenant shall pay to Landlord (or its designated management agent), as agent for Sublandlord, the amounts Sublandlord is required to pay Landlord under the Master Lease as Tenant's Proportionate Share Operating Costs. Subtenant shall pay such amounts at the same time and in the same manner as contemplated by the Master Lease. During the Sublease Term, Subtenant shall, at the same time it makes payment to Landlord pursuant to this Section 6.3, furnish Sublandlord with copies of all checks and documentation supporting the payment or calculation of actual or estimated Operating Costs.
6.4 If Subtenant without the consent of Sublandlord (and the consent of Landlord, where required by the Master Lease) retains possession of the remedies available Premises, or any part thereof, after the expiration or termination of the Sublease Term, Subtenant shall pay to Lessor by reason of Lessee’s continuing default hereunder.Sublandlord all rent
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT(a) During the first year of the Term, Lessee shall pay to Lessor as minimum annual rent the sum of One Hundred Sixty Two Thousand Nine Hundred Dollars ($162,900.00), payable in equal monthly installments of Thirteen Thousand Five Hundred Seventy Five Dollars ($13,575.00) each. The following Schedule Thereafter, commencing upon the fourth anniversary of the Commencement Date, for each Lease year during the Term and any Renewal Term, minimum annual rent shall apply: • June 1st 2011 to December 31stequal the minimum annual rent payable in the immediately preceding Lease year, 2011 $ 6,000 per month • January 1st 2012 to December 31stmultiplied by two and seventy five hundredths percent (2.75%) (e.g., 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base the prior year's rental due hereunder plus an increase of 2.75%). Such minimum annual rent shall be payable to Lessor by in advance, in equal monthly installments on the first day of each calendar month during the Term at the address stated herein term hereof, without demand, offset or to such other persons or at such other places as Lessor may designate in writing deduction, and shall be paid payable in lawful money of the United States of America.
(b) This Lease is intended to be a "triple net" lease. All rent shall be payable to Lessor’s bank account by regular electronic depositAccordingly, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessoras additional rent, all charges for utilities, taxes, assessments and other governmental charges with respect to the Improved Leased Premises and as may be further provided in this Lease. It is the parties' intent that Lessee shall pay all such charges directly. In the event Lessor shall receive any such charges, Lessor shall ▇▇▇▇ Lessee for any such charges and Lessee shall promptly pay Lessor for such charges upon invoice. In the event of nonpayment of additional rent, Lessor shall have, in addition to the rent as provided hereinall other rights and remedies, all privilege, sales, excise, rental the rights and other taxes (except income taxes) imposed now remedies provided for herein or hereinafter imposed by any governmental authority upon law in the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage case of nonpayment of the Premises is the same as set forth in Section 12 hereof. Lessee minimum rent.
(c) For all purposes under this Lease, rent shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “mean both minimum and additional rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deductiondelivered to Lessor at Lessor's address as set forth above, offset, prior notice or demand, at such other place or to such other person as Lessor may designate in writing from time to time.
(d) Any and Lessor’s acceptance of any all rent payment that is for less than the entire amount then currently due hereunder payments payable under this Lease Agreement shall be only as paid to Lessor at an acceptance on account or accounts maintained at Embassy Bank For The Lehigh Valley.
(e) Lessor shall provide Lessee with a LESSEE improvement allowance of One Hundred and shall not constitute an accord and satisfaction or a waiver by Lessor Fifty Thousand Dollars ($150,000.00) for use exclusively for LESSEE fit out of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderPremises.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT(a) Sub-Subtenant shall pay to Sub-Sublandlord base rent (the “Base Rent”) hereunder at the annual rate of Three Hundred Forty Nine Thousand Seven Hundred Forty and 00/100 ($349,740.00) Dollars for the period commencing on the date which is two (2) months from the Commencement Date (the “Rent Commencement Date”), but in no event shall the Rent Commencement Date occur prior to February 1, 2009, and ending on the Expiration Date. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder Base Rent shall be payable to Lessor by in equal monthly installments in advance on the first day of each month, without notice or demand therefor. Upon Sub-Subtenant’s execution hereof, it shall pay the first (1st) full installment of Base Rent due under this Sub-Sublease in the amount of Twenty Nine Thousand One Hundred Forty-Five and 00/100 ($29,145.00), which shall be credited toward the first (1st) installment of Base Rent due upon the Rent Commencement Date, and if the Base Rent for such month during is apportioned in accordance with the Term at following sentence, the address stated herein or remainder of such prepaid rent shall be applied to such other persons or at such other places as Lessor may designate the Base Rent due the following month. If the Commencement Date is not the first day of a month, Base Rent for the period commencing on the Rent Commencement Date and ending on the last day of the month in writing which the Rent Commencement Date occurs and shall be apportioned on the basis of the number of days in said month and shall be paid on the Rent Commencement Date. Base Rent and all other amounts payable by Sub-Subtenant to Sub-Sublandlord under the provisions of this Sub-Sublease (herein called the “Additional Charges”) shall be paid promptly when due, without notice on demand therefor, and without deduction, abatement, counterclaim or set off of any amount or for any reason whatsoever, except as otherwise set forth herein.
(b) Base Rent and Additional Charges shall be paid to Sub-Sublandlord in lawful money of the United States by check drawn on a bank which is a member of Americathe New York Clearing House Association or a successor thereto, to Sub-Sublandlord at ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, Suite 650, Los Angeles, California 90049, or to such other person and/or at such other address as Sub-Sublandlord may from time to time designate by notice to Sub-Subtenant. All rent shall be payable to Lessor’s bank account No payment by regular electronic deposit, without prior demand Sub-Subtenant or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to receipt by Sub-Sublandlord of any lesser amount than the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided amount stipulated to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance deemed other than on account and of the earliest stipulated Base Rent or Additional Charges; nor shall not constitute any endorsement or statement on any check or letter be deemed an accord and satisfaction satisfaction, and Sub-Sublandlord may accept and deposit any check or a waiver by Lessor of payment without prejudice to Sub-Sublandlord's right to recover the balance of the rent due or a waiver of to pursue any of the remedies other remedy available to Lessor by reason of Lessee’s continuing default hereunderSub-Sublandlord.
Appears in 1 contract
Sources: Sub Sublease (Cytrx Corp)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 3.1 Lessee covenants and agrees to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to pay Lessor by the first day of each month during the Term at the address stated place provided herein or for the giving of notice to such other persons or at such other places Lessor, as Lessor may designate annual base rent for said Premises the sum of Thirty Five Thousand Eight Hundred Forty-Seven Dollars and Fifty Cents ($35,847.50) payable in writing monthly installments Two Thousand Nine Hundred Eighty-Seven Dollars and Twenty-Nine Cents ($2,987.29) for each month. Each monthly installment shall be paid in lawful money advance on the FIRST DAY of each and every calendar month during the United States term hereof. If the term of Americathis lease shall begin on a day other than the 1st of a month, the Lessee shall pay a PRO RATA portion of a month's rent on the day the term commences and thereafter the Lessee shall pay a succeeding monthly installment on the 1st day of each succeeding month. All Under no circumstances shall Lessee be entitled to withhold any rent due hereunder or setoff against the same on account of Lessor's purported failure to perform any of its obligations hereunder.
3.2 Any payment by Lessee or acceptance by Lessor of a lesser amount than shall be payable due from Lessee to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaimLessor shall be treated as a payment on account. The acceptance by Lessor of a check or payment for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such a check or payment, that such lesser amount is payment in full, shall be given no effect and Lessor may accept such check or payment without prejudice to any other rights or remedies which Lessor may have against Lessee.
3.3 Lessee further covenants and agrees to pay Lessor at the place provided herein for the giving of notice to Lessor, as additional rent during the term hereof Lessee's PRO RATA share, which is hereby defined and agreed as being 19.626% of the charges, costs and expenses defined in paragraphs 6.3, 7.2, 10.1 and 19.1 of this Lease. Lessee shall pay Lessor such additional rent in monthly installments coincidental with the monthly base rental payments as set forth in paragraph 3.1 hereof. Lessee acknowledges that Lessor may adjust, once every month, the amount of Lessee's monthly installments to cover any difference between the actual charges, costs and expenses incurred by Lessor and the amount of the monthly installments paid by Lessee. It is agreed that Lessee's additional rent in monthly installments shall be One Thousand Six Hundred Eight Dollars and Fifty-Four Cents ($1,608.54) until notification of further adjustment in accordance with this Lease. In addition to the foregoing, Lessor may make assessments for expenses incurred which are over and above the monthly installments paid by Lessee, for any period during the term of this Lease.
3.4 If Lessee shall fail to make payment of any installment of Base Rent or any Additional Rent after the date when such payment is due, Lessee shall pay to Lessor, in addition to such installment of Base Rent or such Additional Rent, as the rent case may be, as provided hereina late charge and as Additional Rent, all privilegea sum equal to two (2%) percent per annum above the then current prime rate charged by Bank of New Hampshire, salesNashua, excise, rental and other taxes (except income taxes) imposed now New Hampshire or hereinafter imposed by any governmental authority upon its successor of the rentals and all other amounts herein provided to be paid by amount unpaid computed from the Lessee to the Lessor. Said date such payment shall be in addition was due to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not including the actual gross rentable square footage date of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderpayment.
Appears in 1 contract
Sources: Lease (Skillsoft Public Limited Co)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 Tenant agrees to December 31st, 2011 $ 6,000 per month • January 1st 2012 pay to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The Landlord during the first year of the Term ---- the monthly base rental due hereunder sum of Eight Thousand Five Hundred Seventy-Six and 79/100 Dollars ($8,576.79)($102,921.42 annually)(unless such rent shall be payable to Lessor by abated or diminished as in this Lease elsewhere provided) (hereinafter "Rent") in advance, on the first day of each calendar month, commencing with the first day of the month following the earlier of (a) the opening by Tenant of its complete store in the Demised Premises for business with the public, or (b) ninety (90) days after Landlord delivers the Demised Premises to Tenant. The Rent for each year during the Term at thereafter shall be the address stated herein annual Rent for the previous year adjusted by the Consumer Price Index for All Urban Consumers (San Francisco-Oakland-San ▇▇▇▇ Region, 1982-84=100) as Published by the United States Department of Labor, Bureau of Labor Statistics. Notwithstanding the foregoing, the CPI adjustment shall in no instance be less than two percent (2%) or greater than five percent (5%) annually. All payments of Rent shall be made to Landlord, whose Federal Identification Number is ▇▇-▇▇▇▇▇▇▇, or to such other persons person or corporation or at such other places place as Lessor may designate in writing and shall be paid designated by Landlord, in lawful money writing, delivered to Tenant at least ten (10) days prior to the next ensuing rent payment date. Landlord and Tenant agree that the monthly Rent for the first year of the first Renewal Period, if exercised, shall be the annual Rent for the Term adjusted by the Consumer Price Index ("CPI") as hereinafter defined. The Rent for each year during the first Renewal Period thereafter, if exercised, shall be the annual Rent for the previous year adjusted by the Consumer Price Index for All Urban Consumers (San Francisco-Oakland-San ▇▇▇▇ Region, 1982-84=100) as Published by the United States Department of AmericaLabor, Bureau of Labor Statistics. All rent Notwithstanding the foregoing, the CPI adjustment shall in no instance be less than two percent (2%) or greater than five percent (5%) annually. The monthly Rent for the second and third Renewal Periods, if exercised, shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off the fair market rent for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall may be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent jointly agreed upon by Landlord and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderTenant.
Appears in 1 contract
Sources: Lease Agreement (West Marine Inc)
Rent. 4.1 MONTHLY BASE RENTFor the initial term of the Lease commencing on the Commencement Date (August 25, 2003), Tenant shall pay Landlord, as rent, One Thousand Two Hundred and No/100 Dollars ($1,200.00) per month ("Rent"). The following Schedule Beginning on the first renewal term (August 25, 2008), the Rent shall apply: • June be $1,380.00 per month until the 1st 2011 to December 31stAmendment Effective Date (defined below),. For the period of the Lease commencing on the 1st Amendment Effective Date and continuing until August 24, 2011, Rent shall be One Thousand Nine Hundred Eighty and No/100 Dollars ($1,980.00) per month. For the period of the Lease commencing on August 25, 2011 $ 6,000 and continuing until August 24, 2012, Rent shall be Two Thousand Thirty-Nine and 40/100 Dollars ($2,039.40) per month • January 1st 2012 to December 31stmonth. For the period of the Lease commencing on August 25, 2012 $ 9,000 and continuing until August 24, 2013, Rent shall be Two Thousand One Hundred and 58/100 Dollars ($2,100.58) per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder month. Rent shall be payable to Lessor in advance beginning on the Commencement Date prorated for the remainder of the month in which the Commencement Date falls, and thereafter Rent will be payable monthly in advance by the first fifth (5th) day of each month during to the Term City of Tempe at Landlord's address specified in Section 12 below. If this Lease is terminated at a time other than on the address stated herein or to such other persons or at such other places as Lessor may designate in writing and last day of a month, Rent shall be paid in lawful money prorated as of the United States date of America. All rent termination for any reason other than a default by Tenant, and all prepaid Rent shall be payable refunded to LessorTenant within thirty (30) days of the date of termination. If Tenant’s bank account right to possession under the Lease has expired or has been otherwise terminated in accordance with the terms and provisions of this Lease, any holding over by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees Tenant after Tenant’s right to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage possession of the Premises is has ceased, with the same as consent of the Landlord, shall be construed to be a tenancy from month-to- month on the terms and on the conditions set forth in herein, except that the monthly Rent under Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month 4 shall be a pro rata portion of at twice the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums Rent amount last required to be paid by Lessee to Lessor hereunder. Rent Tenant under the terms of the Lease, and shall be paid without deductionby Tenant monthly in advance. For purposes of this Lease, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.term
Appears in 1 contract
Sources: Rooftop Lease
Rent. 4.1 MONTHLY BASE RENT. The following Schedule 2.1 During the lease Tenant shall applypay and Owner shall accept a rental as follows: • June 1st 2011 to December 31stRental Period Rent ------------- ---- September 1, 2011 $ 6,000 2001 - August 30, 2002 $7,200 per month • January 1st 2012 to December 31stSeptember 1, 2012 $ 9,000 2002 - August 30, 2003 $9,600 per month • January 1st 2013 to December 31stSeptember 1, 2013 $ 10,500 per month • January 1st 2014 to December 31st2003 - August 30, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 2004 $12,000 per month The monthly base rental for each month beginning on September 1, 2004 and the rental for any extended term if the term of the of this lease is extended beyond the original term, shall be Twelve Thousand Dollars ($12,000.00) per month or, if greater, the amount determined by multiplying the rental for each month of the prior year by a fraction, the numerator of which is the Consumers Price Index United States - All Items, for January of the fourth and fifth year or each year of the extended term, and the denominator of which is such index figure on the same base, for January of 2003, provided that such fraction shall never be less than one (1).
2.2 In addition to these rental payments, Tenant shall pay when due, as additional rent, all other amounts to be paid by Tenant under this lease.
2.3 It is the intention of Owner and Tenant that the rent paid under this lease shall be net to Owner and that each year during the term of the lease all costs, expenses and obligations of every kind relating to the premises (except as otherwise specifically provided in this lease) which may arise or become due hereunder during the term of this lease shall be paid by Tenant, and that Owner shall be indemnified by Tenant against such costs, expenses and obligations.
2.4 All payments of rent shall be made by Tenant to Owner without notice or demand, at such place within the United States as Owner may from time to time designate in writing. For the present Owner designates Owner's address stated in or pursuant to the Notices provisions of this lease as the place for making the payments of rent. All rents shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money legal tender of the United States as the same is then constituted.
2.5 A late fee will accrue at the rate of Americatwelve percent (12%) per annum on all delinquent rent and other amounts due from Tenant. All rent Such late fee shall be immediately due and payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the as additional rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in under this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderlease.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENTSublessee shall pay to Sublessor as rent for the Subleased Premises the following amounts: Period Rate/sq. The following Schedule shall apply: • June 1st 2011 to December 31stft. Monthly Rent ------ ------------ ------------ Effective Date - February 28, 2011 1999 $ 6,000 per month • January 1st 2012 to December 31st1.63 $16,816.71 March 1, 2012 1999 - August 31, 2000 $ 9,000 per month • January 1st 2013 to December 31st1.73 $17,848.41 September 1, 2013 $ 10,500 per month • January 1st 2014 to December 31st2000 - July 3l, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The 2002 $1.805 $18,622.19 Each monthly base rental due hereunder rent payment shall be payable to Lessor by paid in advance, on the first day of each month of the term hereof. Sublessee shall pay Sublessor upon the execution hereof the sum of Sixteen Thousand Eight Hundred Sixteen and 71/100 Dollars ($16,816.71) as rent for the first month of the term. Rent for any period during the Term term hereof which is for less than one month shall be prorated based on the actual number of days in such month. Rent shall be payable without notice or demand and without any deduction, offset, or abatement in lawful money of the United States of America to Sublessor at the address stated herein or to such other persons or at such other places as Lessor Sublessor may designate in writing writing; provided, however, that to the extent that Sublessor's rent is abated for any reason under the Master Lease, Sublessee's rent hereunder shall likewise ▇▇▇▇▇.
4.2 It is understood and agreed that the rent paid by Sublessee pursuant to paragraph 4.1 represents base rent only and does not include any expenses payable by Sublessor as described in paragraph 6 of the Master Lease. Sublessee shall be responsible for all such expenses and shall be paid in lawful money of pay such expenses to Sublessor by the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees date that Sublessor is required to pay Lessor, in addition same to Landlord under the Master Lease.
4.3 Sublessee acknowledges that late payment by Sublessee to Sublessor of rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now charges provided for under this Sublease will cause Sublessor to incur costs not contemplated by this Sublease, the exact amount of such costs being extremely difficult or hereinafter imposed by impracticable to fix. Therefore, if any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage installment of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental rent or any other charge due from Sublessee is not received by Sublessor within ten (10) days after the day on which such payment was due, and Sublessee is notified of such nonreceipt, Sublessee shall pay to Sublessor an additional sum due hereunder even if the actual gross rentable square footage equal to five percent (5%) of the Premises is less than amount overdue as a late charge. The parties agree that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be this late charge represents a pro rata portion fair and reasonable estimate of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment costs that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor Sublessor will incur by reason of Lessee’s continuing default hereunder.the late payment by Sublessee. Initials: -------- /s/ /s/ --------------------------- --------------------------- Sublessor Sublessee
Appears in 1 contract
Sources: Office Lease (Agile Software Corp)
Rent. 4.1 MONTHLY BASE RENTSECTION 1. The following Schedule Lessee shall apply: • June 1st 2011 pay to December 31stthe Lessor as BASIC ANNUAL RENT for the Leased Premises for each year of the period of February 1, 2011 $ 6,000 per month • 1999 through January 1st 2012 to December 31st31, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder 2004 the sum of One Million Fifteen Thousand Four Hundred Sixty-Four Dollars ($1,015,464.00) which shall be paid in equal monthly installments of Eighty Four Thousand Six Hundred Twenty-Two Dollars ($84,622.00), due and payable on the first day of each month, in advance. Said rent shall be paid to the Lessor, or to the duly authorized agent of the Lessor, at its office at ▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ during business hours. Checks should be made payable to WILMINGTON COMMERCE PARK PARTNERSHIP. Any Basic Annual Rent payment not received by the Lessor by the first day of each the month shall be past due. If the commencement date of this Lease is other than the first day of the month, any rental adjustment or additional rents hereinafter provided for shall be prorated accordingly. The Lessee will pay the rent as herein provided, without deduction whatsoever, and without any obligation of the Lessor to make demand for it. Any installment of rent accruing hereunder and any other sum payable hereunder, if not paid when due, shall bear interest at the rate of eighteen percent (18%) per annum until paid. The Basic Annual Rent of $1,015,464.00 shall be adjusted once during the Term at term of the address stated herein or to such other persons or at such other places as Lessor may designate in writing Lease. Beginning February 1, 2004, the sixth year of Lease, and each year of the term thereafter, the Basic Annual Rent shall be One Million One Hundred Seventeen Thousand Ten Dollars ($1,117,010.00) which shall be paid in lawful money equal monthly installments of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice Ninety-Three Thousand Eighty-Four and without deduction or set off for counterclaim17/100's Dollars ($93,084.
SECTION 2. The Lessee further shall pay for the costs of all water, gas, and electricity, including electricity costs for exterior lighting, or any other utilities in connection with the Leased Premises.
SECTION 3. The Lessee agrees to pay Lessor, in addition to all real estate taxes on the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by Leased Premises during the term of this Lease. Taxes for any governmental authority upon portion of a calendar year during the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment term of this Lease shall be in addition to prorated between Lessor and accompanying each monthly rental payment made by Lessee to LessorLessee. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from pay its share of expenses that the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month Lessor shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor incur by reason of Lessee’s continuing default compliance with new laws, orders, special rent/use taxes, ordinances and new regulations of Federal, State, County and Municipal authorities, and with any lawful direction of any public officer or officers, which lawful direction shall be imposed upon the Lessor for the common good of the occupants of the Airborne Commerce Park. Capital improvements which are the responsibility of Lessor shall not be deemed to be prorated or to be passed through to Lessee hereunder.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT(a) The Tenant shall pay all rent and other charges to be paid by the Tenant hereunder to the Authority at the office of the Authority in Richmond, Virginia, or to such other individual, firm or corporation and at such other place as may be designated by the Authority.
(b) The Tenant shall pay a monthly rent (the "Monthly Rent") without notice, demand or setoff during the term hereof based upon an initial rental rate of $20.16 per square foot per year, creating a total annual rent of $13,628.16. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder No reduction or increase in rent shall be available for non-material discrepancies in actual square footage. During the first Lease Year the Monthly Rent shall be $1,135.68 per month.
(c) The Monthly Rent is to be payable in advance on the fifth day of each calendar month during the term hereof without notice or demand and without setoff and it is to Lessor by be received at the Authority's offices within five (5) days after the first day of each month during rental month. If the Term at Monthly Rent is not received in the address stated herein or to such other persons or at such other places as Lessor may designate in writing and Authority's office within five (5) days after the first day of each rental month, there shall be paid in lawful money imposed upon the Tenant a late charge equal to 5% of the United States monthly rental amount. If the Commencement Date is not the fifth day of America. a calendar month, the Tenant shall pay on the fifth day of the first calendar month following the Commencement Date a proportionate amount of the monthly Rent for the period of time from the Commencement Date to the date on which such first monthly payment is due.
(d) All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice amounts and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, charges in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided Monthly Rent required to be paid by the Lessee to Tenant in accordance with the Lessor. Said payment terms hereof shall be in addition deemed to and accompanying each monthly rental payment made by Lessee to Lessorbe additional rent (the "Additional Rent"). The base rental set forth Such amounts or charges, if not paid at the time provided in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withholdLease, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of collectible as Additional Rent with the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance next installment of the rent due and payable hereunder; provided, however, that nothing herein contained shall be deemed to suspend or a waiver of delay the time for any payment to be made by the Tenant hereunder or to limit any other remedy of the remedies available to Lessor by reason of Lessee’s continuing default hereunderAuthority.
Appears in 1 contract
Sources: Lease Agreement (Insmed Inc)
Rent. 4.1 MONTHLY BASE RENTTenant agrees to pay to LJMG a base rent of SEVENTEEN HUNDRED Dollars and 10/100 Dollars ($1,700.10) per month*, for the premises. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder Rent shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid monthly in lawful money of the United States States, and shall be DUE AND PAYABLE IN ADVANCE ON THE FIRST DAY OF THE MONTH BEFORE 5:00 PM. Your rent is critical! No excuses will be accepted for non-payment. FAILURE TO PAY RENT AS STATED BELOW, AT THE LOCATION INDICATED IN THIS LEASE, WILL RESULT IN IMMEDIATE TERMINATION OF THIS RENTAL AGREEMENT AND EVICTION. Rent can be paid by check unless any check is returned unpaid for any reason. Afterwards, rent can only be paid by money order or cash. *RENT IS DUE ON THE FIRST OF THE MONTH AND IS CONSIDERED LATE IF NOT PAID BY 4:00 P.M. ON THE 5TH OF THE MONTH. AFTER WHICH LATE CHARGES AS BELOW WILL BE INCURRED. The rent for the first month of Americathis Lease shall be paid upon execution of this Lease. All If the term does not commence on the first day of the month, rental for the first fraction of the month shall be prorated and shall be payable together with the first full month's rent. The rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice LJMG and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid to the manager's office or to any agent designated in writing by LJMG on the first day of the month for which such fee is due, without deduction, offset, prior any deduction or offset and without any notice or demand, and Lessor’s acceptance . A 3-Day Notice to Pay or Quit will be served on the 6th of the month if payment is not received by the 5th. Tenant shall pay a late charge of five percent (5%) of any rent payment amount that is for due hereunder, provided that said late charge shall not be less than the entire amount then currently due hereunder shall be only as an acceptance on account $5.00. LJMG and Tenant agree that such late charges are fair and reasonable compensation for costs incurred by LJMG where there is default in payment under this Lease. Such costs are extremely difficult to estimate and ascertain, but such costs include processing and accounting charges. Notwithstanding payment of such late charge, Tenant shall not constitute an accord and satisfaction or a waiver be excused from any default nor shall there by Lessor of the balance of the rent due or a any waiver of any default by LJMG under this Lease. There is a $25.00 fee for any returned check, plus applicable bank charges. There is a $195.00 reinstatement fee if service has been discontinued due to non-payment or late payment of the remedies available to Lessor by reason of Lessee’s continuing default hereunderrent or /s/ R.A. -------- Initial 2 charges.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENTA. As rental for the lease and use of the Leased Premises (hereinafter called "Base Rental"), Tenant will pay Landlord, at c/o American General Enterprise Services, Inc., ▇.▇. The ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ (the "Building Office"), or such other location designated in writing by Landlord, without demand and without deduction, abatement (except as otherwise expressly provided for herein) or setoff, in legal tender of the United States, the following Schedule shall applyamounts for the following periods during the Primary Term: • Commencement Date—May 31, 2003 $ 0 $ 0 $ 0 June 1st 2011 to December 31st1, 2011 2003—May 31, 2010 $ 6,000 per month • January 1st 2012 to December 31st, 2012 20.50 $ 9,000 per month • January 1st 2013 to December 31st, 2013 320,620.00 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder 26,718.33 Base Rental shall be due and payable to Lessor by Landlord in advance in monthly installments on the first day of each calendar month during the Term term of this Lease. The Base Rental for any partial month at the address stated herein beginning of the Primary Term shall be pro-rated and paid at the rental rate applicable during the first full month of the Primary Term.
B. As rental for the lease and use of the Storage Space (hereinafter called "Storage Space Rental"), Tenant will pay Landlord with the Base Rental, without demand and without deduction, abatement (except as expressly provided for herein) or set off in legal tender of the United States, the Storage Space Rental Rate in equal monthly installments. The Storage Space Rental for any partial month at the beginning of the Primary Term shall be prorated and paid at the rental rate applicable during the first full month of the Primary Term.
C. In addition to such the Base Rental, all other persons payments to be made by Tenant hereunder shall be deemed for the purposes of securing collection to be "Additional Rent" under this Lease, whether so designated or at such other places as Lessor may designate in writing not, and shall be paid in lawful money of due and payable (except as otherwise expressly provided herein to the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior contrary) on demand or notice together with the next succeeding installment of Base Rental, whichever shall first occur; and without deduction or set off for counterclaim. The Lessee further agrees Landlord shall have the same rights and remedies upon Tenant's failure to pay Lessorthe same as for the non-payment of Base Rental. Base Rental, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals Additional Rent and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in monetary sums due under this Section 4.1 is a negotiated figure and shall govern whether Lease are collectively called "rent" or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder"rental."
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT1. The following Schedule Lessee shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to pay Lessor by as rent for the first day of Premises each month during the Term at initial year of this Lease the address stated herein or to such other persons or at such other places as Lessor may designate in writing sum of One Thousand Eight Hundred Thirty- Eight Dollars and No/100 ($1,838.00) (“Rent”). The Rent shall be paid prior to the fifth (5th) day of each calendar month in lawful money of advance. In consideration for ▇▇▇▇▇▇'s agreement herein to construct the United States of America. All rent Tower and then convey the same to Lessor, the monthly Rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice abated for the first seventy-two (72) months following the Commencement Date (the "Abatement Period") and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right obligation to withhold, deduct or offset pay any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period payments during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively Abatement Period notwithstanding anything to the monthly base rent and any other sums required contrary provided in this Lease.
2. Except with respect to Rent payments made pursuant to paragraph C.6, all Rent shall be paid by Lessee to Lessor hereunderat the address herein set forth: City Clerk, City of Overland Park, ▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇.
3. Lessee shall pay Lessor a late payment charge equal to five percent (5%) of the Rent amount for any month where the Rent payment has not been timely made. Any Rent payment received after the due date shall be deemed late and subject to the provisions of this paragraph.
4. Commencing on the first (1st) annual anniversary of the Commencement Date, and on each annual anniversary of the Commencement Date thereafter during the Term, monthly Rent for each such additional year shall be increased by an amount equal to three percent (3%) of the monthly Rent payable with respect to the immediately preceding year.
5. Rent and all other consideration to be paid or provided by Lessee to Lessor shall constitute Rent and shall be paid or provided without offset.
6. At Lessee's request, ▇▇▇▇▇▇ agrees to provide Lessee information necessary to allow Lessee to make all Rent payments through direct deposit or similar paperless transfer of funds.
7. If this Lease is terminated at a time other than the last day of the month, Rent shall be paid without deductionprorated as of the date of termination and, offsetin the event of termination for any reason other than Lessee’s default, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder all prepaid rents shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of refunded to the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.
Appears in 1 contract
Sources: Lease Agreement
Rent. 4.1 MONTHLY BASE RENT(a) Subtenant shall pay to Sublandlord as base rent ("Base Rent") for the Premises during he term hereof the sum of Forty-Five Thousand Eighty Dollars ($45,080) per month. The following Schedule In addition to Base Rent, during the term of this Sublease, Subtenant shall apply: • June 1st 2011 pay to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be Sublandlord Subtenant's share ("Subtenant's Share") of all additional rent ("Additional Rent") payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money Landlord under Paragraph 5(b) of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals Master Lease and all other amounts herein provided to be paid expenses incurred by Sublandlord in performing the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental obligations set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage Paragraph 17.B. of the Premises is the same Master Lease. Subtenant's Share of Additional Rent shall be fifty-eight and five tenths percent (58.5%).
(b) Collectively, Base Rent and Additional Rent shall hereinafter be referred to as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12"Rent". Rent for any period during the Term term hereof which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used hereinRent shall be payable in advance on the first day of every month, unless otherwise specifiedwithout demand, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunderoffset, counterclaim or setoff. All Rent shall be paid without deductionto Sublandlord at its address set forth in Paragraph 18 hereof or at such other place as Sublandlord may designate by written notice to Subtenant.
(c) Any Rent or other amount due hereunder to Sublandlord that is not paid when due shall bear interest at the rate of ten percent (10%) per annum or the maximum rate 2 allowed by law, offsetwhichever is less. In addition, prior notice or demandfor each payment of Rent that is not paid within ten (10) days after the date of Rent payment is due, Subtenant shall pay to Sublandlord an additional sum equal to four percent (4%) of the amount overdue as a late charge. Payment and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due interest and a late charge hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver excuse any failure by Lessor of the balance of the rent due or a waiver of any of the remedies available Subtenant to Lessor by reason of Lessee’s continuing default hereunderpay Rent when due.
Appears in 1 contract
Sources: Sublease (Verilink Corp)
Rent. 4.1 MONTHLY BASE RENT. The For the use and occupancy of the Premises Tenant hereby covenants and agrees to pay to or for the account of Landlord as rental ("Rental"), without deduction or offset, the following Schedule shall apply: • June 1st 2011 to December 31stamounts:
(a) An annual fixed rental calculated at the rate of $16.12 per square foot of the Premises, 2011 $ 6,000 being One Million Two Hundred Forty One Thousand Eight Hundred Thirty Six Dollars and Forty Cents ($1,241,836.40) per month • January 1st 2012 to December 31styear (hereinafter the "Base Rental"), 2012 $ 9,000 per month • January 1st 2013 to December 31stdue and payable in advance in monthly installments of One Hundred Three Thousand Four Hundred Eighty Six Dollars and 33 Cents ($103,486.36) at Landlord's business premises located at Patriots Park, 2013 $ 10,500 per month • January 1st 2014 to December 31stBedford, 2014 $ 11,500 per month • January 1st 2015 to November 30thMassachusetts, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by on the first day of each and every calendar month during the Term term of this Extension of Lease Agreement; a prorated and proportional rent shall be due for any periods of less than a calendar month at the address stated herein commencement and expiration of the lease term, all without set off or deduction except as may be required by law in order to preserve any claim of Tenant thereto.
(b) Subject to Landlord's obligations set forth in Section 4(e) below, all real estate taxes, or taxes in the nature of real estate taxes, or taxes assessed in lieu of or in addition thereto (except income taxes of general application, inheritance, estate or like taxes) including special and general assessments, however the same may be designated, levied or to such other persons be levied by any taxing authority upon the Building or at such other places as Lessor may designate in writing and Real Estate ("Real Estate Taxes") throughout the entire term of this Extension of Lease Agreement; the same shall be paid in lawful money by Tenant directly to such taxing authority upon receipt of the United States tax bill but in no event later than fifteen (15) days prior to the last ▇▇▇e upon which such taxes may be paid without interest or penalty. If the first or last year of Americathe term of this Extension of Lease Agreement shall not be co-extensive with the tax year the amount of taxes payable by Tenant hereunder for such years shall be prorated in proportion to the period of effectiveness of the Extension of Lease Agreement during such years. All rent Tax receipts shall be furnished to Landlord by Tenant from time to time upon request to show Tenant's compliance herewith on a current basis. If requested by any first mortgagee of the Premises, Tenant agrees to instead make monthly deposits to such mortgagee on account of such taxes in an amount reasonably estimated to be sufficient to pay such taxes when they become due, provided that such deposits are maintained in a separate account and any interest payable with respect thereto shall be payable to Lessor’s bank account by regular electronic depositTenant.
(c) Subject to Landlord's obligations set forth in Section 4(e) below, without prior demand or notice all costs of electricity, gas, fuel, water and without deduction or sewage services assessed against the Premises, Building and Real Estate ("Utility Costs").
(d) Subject to Landlord's obligations set off for counterclaim. The Lessee further agrees forth in Section 4(e) below, all other costs and expenses of every kind with respect to operation, maintenance, repair of the Premises, Building and Real Estate but excluding Direct Landlord Costs (as defined in Section 25 below) ("Operations Costs") and insurance of the Premises, Building and Real Estate ("Insurance Costs").
(e) Notwithstanding Tenant's obligations to pay LessorReal Estate Taxes (as defined in Section 4(b) above), Utility Costs (as defined in addition to the rent Section 4(c) above), Operations Costs (as provided herein, all privilege, sales, excise, rental defined in Section 4(d) above) and other taxes Insurance Costs (except income taxesas defined in Section 4(d) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental above) as set forth in this Section 4.1 is 4, Landlord shall be responsible for the payment of the portion of such Real Estate Taxes (as defined in Section 4(b) above), Utility Costs (as defined in Section 4(c) above), Operations Costs (as defined in Section 4(d) above) and Insurance Costs (as defined in Section 4(d) above) which are not solely allocable to the Premises in accordance with Section 25 below. Landlord shall establish and maintain a negotiated figure separate bank account with a financial institution reasonably acceptable to Tenant for the purpose of holding funds sufficient to satisfy Landlord's obligations under this Section 4(e) with respect to Real Estate Taxes, Utility Costs, Operating Costs and Insurance Costs (the "Landlord's Share Escrow Account"). The Landlord's Share Escrow shall be initially funded with, and shall govern whether or not at all times maintain a balance of no less than, an amount reasonably estimated by Tenant to satisfy three (3) months of Landlord's obligations with respect to Real Estate Taxes, Operating Costs, Insurance Costs and Utility Costs (the actual gross rentable square footage "Minimum Balance"). Tenant shall be listed as the sole entity having withdrawal rights with respect to such account and Tenant shall withdraw such funds if, as and when it deems necessary to satisfy Landlord's obligations hereunder. In addition to the Minimum Balance, Landlord shall make monthly payments equal to one-twelfth of Landlord's Share of such Real Estate Taxes, Operating Costs, Insurance Costs and Utility Costs (collectively, "Expenses") for the Premises is calendar year into the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from Landlord's Share Escrow Account on the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage first day of the Premises is less than that set forth in Section 12. Rent for any period each and every calendar month during the Term which is for less than one month shall be a pro rata portion of this Lease, commencing on the monthly installmentCommencement Date. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required amount so to be paid to the Landlord's Share Escrow Account may be modified from time to time to provide Tenant with a sum equal to Landlord's required payment, as reasonably estimated by Lessee Tenant from time to Lessor time, on account of Real Estate Taxes, Operating Costs, Insurance Costs and Utility Costs for the current operating year (January 1 through December 31; the "Operating Year"). Within a reasonable period after the end of an Operating Year, Tenant shall provide Landlord a reasonably detailed statement of Expenses for the prior Operating Year. If estimated payments theretofore made by Landlord for the Operating Year exceed the sum of (x) the required payment of Landlord's Share (as defined in Section 25 below) of the Expenses and (y) the Minimum Balance, Tenant shall credit the amount of such excess against subsequent obligations of Landlord on account of Expenses (or promptly refund such excess if the Term of this Lease has ended and Landlord has no further obligation to Tenant); but if the required payments on account thereof for such Operating Year are greater than estimated payments theretofore made on account thereof for such Operating Year, Tenant shall have the election, at its sole discretion, to withdraw such funds from the Minimum Balance or to require Landlord to credit the amount of underpayment against subsequent obligations of Tenant with respect to Rental hereunder. Rent Tenant shall be paid without deductionhave the right to increase or decrease the amount of such monthly installments or the Minimum Balance from time to time. In the event the Landlord's Share Escrow Account falls below the Minimum Balance, offsetLandlord shall deposit such funds into the Landlord's Share Escrow Account to restore the amount in such account to the Minimum Balance. Promptly after the expiration or early termination of the term, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder Tenant shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of return the balance of the rent due Landlord's Share Escrow Account to Landlord.
(f) In no event shall Tenant incur, or a waiver of be responsible for the payment of, any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderDirect Landlord Costs (as defined in Section 25 below) or perform any obligation associated with such costs.
Appears in 1 contract
Sources: Lease Agreement (Spire Corp)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule (a) Sublessee shall applypay to Sublessor as base rent (“Base Rent”) the following: • June 1st $838,686.60 payable $69,890.55 per month from April 1, 2008 to March 31, 2009* $868.040.63 payable $72,336.72 per month from April 1, 2009 to March 31, 2010 $898,422.05 payable $74,868.50 per month from April 1, 2010 to March 31, 2011 $929,866.82 payable $77,488.90 per month from April 1, 2011 to December 31stMarch 31, 2011 $ 6,000 2012 $882, 211.11 payable $80,201.01 per month • January 1st from April 1, 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31stFebruary 27, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder *Base Rent shall be payable subject to Lessor by abatement from the Commencement Date until the Abatement Allowance (or such portion thereof to which Sublessee is entitled) is fully expended in accordance with Section 2(b) of this Sublease. Sublessee shall pay Base Rent in advance on the first day of each month during of the Term at term, except that Sublessee shall pay the address stated herein or first monthly installment of Base Rent payable hereunder prior to such taking possession of the Sublet Premises following the Early Possession Date.
(b) Sublessee shall pay to Sublessor as additional rent (“Additional Rent”) all other persons or at such other places as Lessor may designate in writing sums payable under this Sublease.
(c) Sublessee shall pay Base Rent and shall be paid Additional Rent (collectively “Rent”) in lawful money of the United States by good check or draft drawn to the direct order of America. All rent Sublessor at the address of Sublessor herein or to such other party or such other address as Sublessor shall be payable to Lessor’s bank account by regular electronic depositdesignate, without prior notice or demand or notice and without deduction or set off any deduction, set-off, abatement (except for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as any abatements expressly provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from whatsoever. If this Sublease shall commence on a day other than the base monthly rental first day of a calendar month, or any if this Sublease shall expire or terminate on a day other sum due hereunder even if than the actual gross rentable square footage last day of the Premises is less than that set forth in Section 12. a calendar month, then Rent payable for any period during the Term which is for less than one such fractional month shall be prorated on a pro rata portion of the monthly installmentdaily basis based upon a thirty (30) day calendar month. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Additional Rent shall be paid without deduction, offset, prior notice or demand, as and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder when specified in this Sublease; if not specified in this Sublease Additional Rent shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor paid within twenty (20) days from receipt of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of LesseeSublessor’s continuing default hereunderinvoice.
Appears in 1 contract
Sources: Sublease (Santarus Inc)
Rent. 4.1 MONTHLY BASE RENTSubject to the terms and conditions hereof, Tenant covenants and agrees to pay to Landlord Base Rent (herein so called) at the annual rate of Four Hundred Ninety-Five Thousand Four Hundred Eleven and 48/100 Dollars ($495,411.48), which is the product of Nine and 25/100 Dollars ($9.25), and the number of square feet of rentable area contained in the Premises. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder Base Rent shall be payable in equal monthly installments of Forty-One Thousand Two Hundred Eighty-Four and 29/100 Dollars ($41,284.29) each. All Base Rent with respect to Lessor by any portion of the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and Premises shall be paid payable in lawful money of the United States of America. All rent America with the monthly installments due on the first business day of each calendar month in advance at the office of the Landlord, or to such other recipient or at such place as Landlord shall be payable designate by written notice to Lessor’s bank account by regular electronic depositTenant, without prior demand or notice therefor and without any deduction or set set-off for counterclaimwhatsoever. The Lessee further Tenant hereby covenants and agrees to pay Lessorthe Base Rent hereby reserved as and when due, in addition to the rent as provided herein, together with all privilege, sales, exciseother sums of money, rental adjustments, charges and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee Tenant to Lessor hereunderLandlord to another person under this Lease ("Additional Rent"). Such Base Rent and Additional Rent are hereinafter collectively referred to as "Rent." This covenant to pay Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance independent of any rent payment that other covenant set forth in this Lease. In the event Tenant fails to pay Rent within ten (10) days after such is for less than due and payable, such amount with interest thereon from the entire amount date due at a rate equal to the then currently due hereunder current annual prime rate plus two percent (2%) charged by Zion Bank, Salt Lake City, Utah, to its most creditworthy customers (provided such rate does not exceed any limitations imposed by law, in which event the interest rate shall be only that which is the highest rate permitted by law), shall be included as an acceptance Additional Rent payable by Tenant on account and demand by Landlord; provided, however, that Landlord's receipt of any such Additional Rent shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or be a waiver of Tenant's default, nor shall such receipt affect any other remedy of the remedies available to Lessor by reason of Lessee’s continuing default Landlord hereunder.
Appears in 1 contract
Sources: Lease Agreement (Hk Systems Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule 4.01 Tenant shall apply: • June 1st 2011 pay to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly Landlord during the Term of this Lease annual base rental due hereunder initially equal to One Hundred Eighty-Three Thousand and 00/100 ($183,000.00) Dollars per annum ($15,250.00 per month) commencing on the Commencement Date. No rent of any kind whatsoever, whether annual base rental or additional rental, shall be payable on the Basement Storage Premises. On each anniversary of the Commencement Date, the annual base rental shall be increased by 3%. If the management agreement between ▇▇▇▇▇▇ Services, Inc. (as affiliate of Tenant), as manager (the “Manager”) and Landlord, as owner covering the Buildings is terminated, other than because of the fault of the Landlord, as owner thereunder or Landlord’s sale of the Buildings, the annual base rent shall be increased by Fifty Thousand and 00/100 ($50,000) Dollars per annum from and after the date of termination through and including the Expiration Date.
4.02 In addition to Lessor by the base rental set forth in Section 4.01, Tenant shall pay to Landlord commencing on the Commencement Date additional rental for electric usage in the amount of One Dollar and 50/100 ($1.50) per rentable square foot per annum (the “Electric Charge”), payable in equal consecutive monthly installments during the Term of this Lease. Tenant shall also pay to Landlord additional rent hereinafter provided in this Lease.
4.03 Annual base rental shall be payable in equal monthly installments on the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of AmericaTerm. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, base rental and other taxes regularly occurring additional rental payments and service fees (except income taxescollectively, “rent”) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and Lease are due on the first day of each month, in advance, without demand or notice. Payments shall govern whether or not be made to Landlord at the actual gross rentable square footage of the Premises is the same as address set forth above in Section 12 hereof. Lessee shall have no right to withhold, deduct full without deduction or offset of any amount from the base monthly rental kind or nature, except as otherwise set forth herein. In addition to any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor Landlord, any payment of rent which is ten (10) business days late shall thereafter bear interest at the rate of 7% per annum or the maximum interest rate allowed by reason of Lessee’s continuing default hereunderlaw, whichever is less (the “Interest Rate”). All rents shall be subject to pro rata adjustments for partial months, if any.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENTTenant agrees to pay rent for the Premises in monthly installments according to the following schedule (the Base Rent): 1 10.50 $ 27,459 2 10.82 $ 28,296 3 11.14 $ 29,133 During the term of this Lease, the Tenant shall pay a prorata share of Operating Expenses (as defined in the OPERATING EXPENSES section), payable monthly with Base Rent. The following Schedule Tenant’s monthly payment of its prorata share of Operating Expenses shall apply: • June 1st 2011 be based on Landlord’s estimate, which will be provided to December 31st, 2011 $ 6,000 per month • January 1st 2012 Tenant on an annual basis. Landlord shall estimate Tenant’s prorata share of Operating Expenses on a reasonable basis by considering its Operating Expenses for the prior year and market factors regarding future Operating Expenses. Said Rent is subject to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base late charges and other terms and conditions of this Lease. Monthly rental due hereunder shall be payable to Lessor by in advance on the first day of each month during the Term at the address stated herein of this Lease, without notice or to such other persons demand and without any deduction, off-set, or at such other places abatement, except as Lessor may designate in writing and shall be paid described herein, in lawful money of the United States to the Landlord at the address stated herein for notices or to such other persons or such other places as the Landlord may designate to Tenant in writing. Rent not paid within ten (10) days of Americathe due date shall be subject to a late charge equal to the lesser of 5% of the amount unpaid or the maximum allowable under applicable law, with an additional amount due every month it remains unpaid. All Any items of additional rent shall be payable to Lessor’s bank account invoiced on a monthly basis by regular electronic deposit, without prior demand or notice Landlord and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made payable by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage Tenant within fifteen (15) days of the Premises is the same as set forth in Section 12 hereofdate of such invoice.
4. Lessee shall have no right to withholdParagraph 8, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month TENANT LEASEHOLD IMPROVEMENT ALLOWANCE, shall be a pro rata portion of the monthly installment. The term “rent” amended to read as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.follows:
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule For the use and occupancy of the Leased Premises herein granted, Tenant contracts to pay to City, throughout the Term of this Agreement and any extension option periods, payments (collectively, the “Rent“) as follows:
(a) During the Development Period, Tenant shall apply: • June make payments to City of One and No/100 Dollars ($1.00) per year for the Leased Premises.
(b) Commencing upon the first day after the end of the Development Period or September 1, 2017, whichever is earlier, and expiring on the last date of the term of this Agreement (as may be extended pursuant to the terms of this Agreement or as otherwise agreed to by the parties)) (the “Operating Period”), Tenant shall make payments to City in the amounts shown on Exhibit “E” attached hereto and incorporated herein by reference; provided however, that if the City fails to vacate the Leased Premises by February 15, 2015, then the September 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30thdate shall be extended by the same number of days past February 15, 2015 $ 13,000 per month that it takes the City to vacate the Leased Premises .
4.2 The monthly base first rental payment shall be due hereunder upon execution of this Agreement. After that, all payments shall be payable to Lessor by the first day in advance on January 1st of each month during the Term year, without notice or demand, at the address stated herein or to such other persons office of the City Manager or at such other places offices as Lessor may designate be directed in writing and shall be paid by City. If Rent payments are not received by January 1st of each year, City may notify Tenant in lawful money writing of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositdelinquency.
4.3 This Agreement is a net lease, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals Rent and all other amounts herein provided to due hereunder will be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth Tenant, unless expressly provided otherwise in this Section 4.1 Agreement, without notice, demand, counterclaim, set off, deduction, defense, abatement or reduction. It is expressly understood and agreed that this is a completely net lease intended to assure City the Rent payments herein reserved on an absolutely net basis. Tenant acknowledges and agrees that City and Tenant have expressly negotiated figure that Tenant’s covenants to pay the Rent under this Agreement are separate and shall govern independent from City’s obligations hereunder, or the occurrence of any event, occurrence or situation during the Agreement term, whether foreseen or not unforeseen and howsoever extraordinary or beyond the actual gross rentable square footage contemplation of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demandparties, and Lessorhad the parties not mutually agreed upon the independent nature of Tenant’s acceptance covenants to pay rent hereunder, City would have required a greater amount of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available Rent in order to Lessor by reason of Lessee’s continuing default hereunderenter into this Agreement. AS SUCH, TENANT WAIVES ANY RIGHT NOW OR HEREAFTER CONFERRED UPON IT AT LAW OR IN EQUITY TO ANY ABATEMENT, DEDUCTION, SUSPENSION, DEFERMENT, DIMINUTION OR REDUCTION, OR SET-OFF OR DEFENSE AGAINST ANY RENT PAYMENTS AND ANY OTHER SUMS FOR WHICH TENANT IS OBLIGATED UNDER THIS AGREEMENT ON ACCOUNT OF SUCH EVENT, HAPPENING, OCCURRENCE OR SITUATION.
Appears in 1 contract
Sources: Ground Lease
Rent. 4.1 MONTHLY BASE RENTIn addition to the other obligations of Sublessee set forth herein, Sublessee shall pay Sublessor as annual rent ("Basic Rent") for the Sublease Term the sum of Two Hundred Twenty-One Thousand One Hundred Twenty-Two and No/100 Dollars ($221,122.00) per annum. The following Schedule shall apply: • June 1st 2011 An amount equal to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder one-twelfth (1/12) of such annual rent (Eighteen Thousand Four Hundred Twenty-Six and 83/100 Dollars ($18,426.83)) shall be payable to Lessor by in advance on the first day of each month of the Sublease Term, without deduction or offset and without prior notice or demand; provided, however, that all such rentals shall be prorated to account for partial months during the Term at first and/or last months during the address stated herein Sublease Term. In addition, Sublessee shall pay sixty-two and one tenth percent (62.1%) of all taxes, assessments, utilities, insurance, common area costs and other expenses or costs which Sublessor is hereafter required to such other persons or at such other places pay as Lessor may designate in writing and shall be paid in lawful money Lessee under the Master Lease ("Additional Rent"). Installments of the United States of America. All rent Additional Rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees Sublessor at the same times Sublessor is required to pay Lessorsuch expenses under the Main Lease. For non-monthly installments of Additional Rent, in addition to the rent as provided herein, Sublessor shall provide notice of such amounts due within three (3) business days of Sublessor's receipt of notice thereof from Master Landlord. Sublessor shall provide Sublessee with copies of all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the supporting information for Additional Rent which Sublessor receives from Master Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage Sublessee's obligation for installments of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Additional Rent for any period during prior to expiration or termination of this Sublease shall survive such expiration or termination. In the Term which event any amount included in the Additional Rent is for less than one month subject to year-end adjustment under the Master Lease, Sublessee shall be a pro rata portion entitled to or responsible for sixty-two and one tenth percent (62.1%) of the monthly installmentamount it has overpaid or underpaid as to that component of Additional Rent. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent Rents shall be paid without deduction, offset, prior notice or demand, to Sublessor at the address set forth below. The terms and Lessor’s acceptance provisions of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account Section 4.01 and shall not constitute an accord and satisfaction or a waiver by Lessor Section 4.02 of the balance Master Lease shall apply to Sublessee in the event of the rent due delinquent payment of Basic Rent or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderAdditional Rent.
Appears in 1 contract
Sources: Sublease (Hurco Companies Inc)
Rent. 4.1 MONTHLY BASE RENT(a) From and after September 1, 2009 (“Rent Commencement Date”), Subtenant shall pay to Sublandlord annual fixed rent (the “Fixed Rent”) in the amount of Six Hundred Fifty Three Thousand One Hundred Eighty Four and 0/100 Dollars ($653,184.00). The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder Fixed Rent shall be payable to Lessor by in advance in monthly installments, pro-rated on a per diem basis in the case of any partial months during the Term. Except as otherwise set forth herein, each monthly installment of Fixed Rent shall be payable on or before the first day of each month during month, without notice or demand and without abatement, set-off or deduction.
(b) In addition to the Term Fixed Rent, Subtenant agrees to pay to Sublandlord electric charges for the Subleased Premises. Subtenant’s Original Electrical Factor used to calculate estimated charges will be $1.50 per rentable square foot per year (Fifty Four Thousand Four Hundred Thirty Two and 0/100 Dollars ($54,432.00) total per year), subject to future adjustment in accordance with the ▇▇▇▇▇▇▇▇▇. Subtenant shall pay any Subtenant Surcharge within fifteen (15) business days after the presentation of the Overlandlord’s statements therefor by the Sublandlord to Subtenant.
(c) Any failure or delay by Sublandlord in billing any sum set forth in this Section 4 shall not constitute a waiver of Subtenant’s obligation to pay the same in accordance with the terms of this Sublease.
(d) The Fixed Rent and Electrical charges payable pursuant to this Sublease shall be paid by Subtenant to Sublandlord at the address stated herein or to such other persons set forth for notices below, or at such other places place as Lessor Sublandlord may hereafter designate from time to time in writing and shall be paid writing, in lawful money of the United States of America. All rent shall be payable , by a good unendorsed check, subject to Lessor’s bank account by regular electronic depositcollection, as and when the same become due and payable, without prior demand or notice therefor and without deduction any deduction, set-off or set off for counterclaimabatement whatsoever. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental Any other amounts of additional rents and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals charges herein reserved and all other amounts herein provided to payable shall be paid by Subtenant in the Lessee manner and to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental persons set forth in the statement from Sublandlord describing the amounts due as applicable.
(e) Subtenant shall not be subject to any increase in Operating Expenses or Taxes.
(f) Except as expressly stated in this Section 4.1 is a negotiated figure and 4, Subtenant shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right be subject to withhold, deduct or offset any amount from the base monthly rental or pay any other sum due hereunder even if charges or fees under the actual gross rentable square footage terms of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used hereinArticle III, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.Article 7.5
Appears in 1 contract
Sources: Sublease (Salary. Com, Inc.)
Rent. 4.1 MONTHLY BASE RENTSection 1. The following Schedule For the period commencing October 1, 1997 and ending --------- September 30, 1998, Lessee shall apply: • June 1st 2011 pay to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder the Lessor as Annual Rent for the Leased Premises the sum SIXTY-TWO THOUSAND FOUR HUNDRED AND 00/100 DOLLARS ($62,400.00) which shall be paid in equal monthly installments of FIVE THOUSAND TWO HUNDRED AND 00/100 DOLLARS ($5,200.00), due and payable to Lessor by on the first day of each month during month, in advance, without demand. Provided however, the Term at first month's rent shall accompany the address stated herein or return of the signed Lease. Checks should be made payable to such other persons or at such other places as Lessor may designate in writing Lower Bellbrook Company and sent to Lower Bellbrook Company, c/o ▇▇▇▇▇▇-▇▇▇▇▇▇▇▇▇ Group, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇. Said rent shall be paid in lawful money to the Lessor, or to the duly authorized agent of the United States Lessor, at its office during business hours. If the commencement date of America. All rent this Lease is other than the first day of the month, any rental adjustment or additional rents hereinafter provided for shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaimprorated accordingly. The Lessee further agrees to will pay Lessor, in addition to the rent as provided hereinherein provided, all privilegewithout deduction whatsoever, salesand without any obligation of the Lessor to make demand for it. Any installment of rent accruing hereunder and any other sum payable hereunder, exciseif not paid when due, rental shall bear interest at the rate of eighteen percent (18%) per annum until paid.
Section 2. The Lessee shall reimburse the Lessor for the costs --------- of water, gas, and other taxes electricity (except income taxesincluding electricity costs for exterior lighting) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided utilities and heating and air conditioning maintenance in the event that such services are furnished by Lessor and not separately metered to the Lessee if such costs exceed fifteen dollars ($15.00). Said reimbursement shall be additional rent due on the first day of the calendar month next following rendition of a ▇▇▇▇ therefor. If any services are separately metered, the cost shall be paid directly by the Lessee to the Lessorutility service. Said payment The heating and other utilities not separately metered will be prorated on the basis of the square footage, except water, serviced by a given meter and paid to Lessor as billed. The total costs of water shall be paid by the Lessees currently in addition to occupancy and accompanying the costs thereof shall be prorated on the basis of square footage occupied by each monthly rental payment made Lessee. A 10% handling fee for these billable services will be charged by Lessee to the Lessor.
Section 3. The base rental set forth in this Section 4.1 is a negotiated figure Lessee agrees to pay any increased real estate --------- taxes over and shall govern whether or not above the actual gross rentable square footage real estate taxes paid by the Lessor during the first calendar year (1997) of the Premises is the same as set forth in Section 12 hereofterm of this Lease. Lessee shall have no right to withhold, deduct or offset The Lessee's proportionate share of any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month such increase shall be a pro rata portion fraction thereof, the numerator of which is the number of square feet of floor area in the Leased Premises and the denominator of which is the total square feet of the monthly installmentfloor area in the building both as specified aforesaid in the Lease. Said amount shall be deemed to be additional rent and shall be due and payable on the first of the month following delivery to Lessee of a receipt for Lessor's payment of said real estate taxes. The term “rent” as used herein, unless otherwise specified, Lessee shall refer collectively to pay its prorated share of expenses that the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor incur by reason of Lessee’s continuing default hereundercompliance with new laws, orders, special rent/use taxes, charges for governmental services, ordinances and new regulations of Federal, State, County and Municipal authorities, and with any lawful direction of any public officer or officers, which lawful direction shall be imposed upon the Lessor for the common good of the occupants of the building.
Appears in 1 contract
Sources: Lease Agreement (Pc Connection Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 2
3 3.1 Lessee agrees to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable pay to Lessor by or to such other person or entities at such place or 4 places as Lessor may from time to time designate, an annual fixed base rent in the amount of 5 Sixty Thousand Six Hundred Dollars ($60,000.00), in equal monthly installments of Five 6 Thousand Dollars ($5,000.00) on the first day of each and every calendar month during the Term at term 7 of this Lease and each extended term hereof. 8
9 3.2 If the address stated herein term of this Lease commenced or to such terminated on any day other persons than the first 10 day of any calendar month, then the rent for the first or at such other places as Lessor may designate in writing and last month shall be paid prorated for the 11 number of days in lawful money of the United States of Americathat month during which this Lease is effective. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals Rent and all other amounts herein provided to 12 payable by Lessee under this Lease shall be paid payable without offset or deduction, and any 13 payment by the Lessee or acceptance by Lessor of an amount less than that due hereunder shall be 14 treated as a payment on account, regardless of any endorsement appearing on any check or any 15 statement made by Lessee to the contrary. 16
17 3.3 If any installment of rent, additional rent, or other amount payable by Lessee 18 under the terms of this Lease is paid more than ten (10) days after the due date thereof, at 19 Lessor. Said payment ’s election, such installment or other amount shall bear interest at a rate equal to the rate of 20 interest announced from time to time by The Wall Street Journal as the Prime Rate in its “Money 21 Rates” column, plus two percent (2%) per annum from such date, which interest shall be 23 with the preceding sentence shall be in addition to to, and accompanying each monthly rental payment made by Lessee to not in lieu of, Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no ’s right to withholddeclare 24 this Lease in default, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of Lessor’s other rights and 25 remedies for non-payment of rent. Lessee shall reimburse Lessor upon demand for all of 27 payment of rent.
29 3.4 If Lessee exercises its option to renew this Lease as provided in Section 2.2 30 hereof, then the remedies available to Lessor by reason base annual rent during each year of Lessee’s continuing default hereundereach lease renewal term will be $62,700 per 31 annum, or $5,225.00 per month, for the first renewal and $65,521.50 per annum, or $5,460.13 32 per month, for the second renewal. For purposes of this Lease, a “lease year” shall be each 12 33 month period of this Lease beginning on the Commencement Date except that if the 34 Commencement Date is other than the first day of a month, then the first lease year shall begin 35 with the first day of the next full calendar month following the Commencement Date but shall 36 also include the partial month in which the Commencement Date occurs.
Appears in 1 contract
Sources: Lease Agreement
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 A. Landlord reserves and Tenant covenants and agrees to December 31stpay to Landlord without demand, 2011 $ 6,000 per month • January 1st 2012 at the office of Landlord as set forth hereinabove, or elsewhere as designated from time to December 31sttime by written notice to Tenant and in the manner herein prescribed for payment thereof, 2012 $ 9,000 per month • January 1st 2013 to December 31sta monthly rent for the Premises payable in equal monthly installments of $9,210.83, 2013 $ 10,500 per month • January 1st 2014 to December 31stplus one twelfth (1/12th) of the estimated real estate taxes based upon the real estate tax statement for the year 1995 in the sum of $1,636.53, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The for a total 2 monthly base rental due hereunder shall be payable to Lessor by payment of $10,847.36 in advance on the first day of each month throughout the term of the Lease commencing the 1st day of November, 1996. Commencing January 1, 1997, said monthly rate shall be increased based upon any increase in real estate taxes for the 1996 year for the premises, so that Tenant will be paying one twelfth (1/12th) of said tax each month during the Term at remaining term of this Lease based upon the address stated herein most recent real estate tax statement available.
B. It is understood and agreed that this Lease does not create the relationship of principal and agent or to such other persons of partnership or at such other places as Lessor may designate in writing of joint venture or of any association between Landlord and Tenant, the sole relationship between Landlord and Tenant being that of Landlord and Tenant.
C. Rent shall be paid payable in lawful money of the United States of America. All rent which shall be payable to Lessor’s bank account by regular electronic depositlegal tender for payment of all debts and dues, public and private, at the time of payment, at the office of Landlord or such place as Landlord may designate, without prior demand any setoff or notice and without deduction or set off for counterclaim. The Lessee further agrees whatsoever.
D. If Tenant fails to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum amount due hereunder even if to Landlord hereunder, Landlord will be entitled to interest on the actual gross rentable square footage unpaid amount at the rate of one and one-half percent (1 1/2%) per month (or the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required highest contract rate permitted to be paid charged by Lessee to Lessor hereunder. Rent shall be paid without deductionlaw, offsetwhichever is lower) from the date of default, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereundercompounded monthly.
Appears in 1 contract
Sources: Lease Agreement (White David Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 4.01 Tenant hereby agrees to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly pay an annual base rental (the "Base Rent") as follows: (a) from the Commencement Date through April 30, 1994, an amount equal to Five and 25/100 Dollars ($5.25) per square foot of Net Rentable Area within the Leased Premises, payable in monthly installments equal to Four Thousand Seven Hundred Twenty-Four and 13/100 Dollars ($4,724.13) each, and (b) from May 1, 1994 through March 31, 1999, an amount equal to Ten and 50/100 Dollars ($10.50) per square foot of Net Rentable Area within the Leased Premises, payable in monthly installments equal to Nine Thousand Four Hundred Forty-Eight and 25/100 Dollars ($9,448.25) each. Tenant shall pay such rental to Landlord monthly without demand, for each and every month of this Sublease, such installments being due hereunder shall be and payable to Lessor by on the first day of each month during calendar month; provided, however, that if the Term at of the address stated herein or Sublease commences on a day other than the first day of the calendar month, the first payment under the Sublease shall be prorated for the remainder of the calendar month in which the Term of the Sublease commences.
4.02 As used in this Sublease, "Rent" shall mean the Base Rental, the Tenant's Share of Forecast Excess Operating Expenses (hereinafter defined), the Operating Expense Adjustment, and all other amounts provided for in this Sublease to such other persons or at such other places as Lessor may designate be paid by Tenant, all of which shall constitute rental in writing consideration for this Sublease and the leasing of the Leased Premises. The Rent shall be paid at the times and in lawful money the amounts provided for herein in legal tender of the United States of America. All rent shall be payable America to Lessor’s bank account by regular electronic deposit, without prior demand Landlord at the address specified above or notice and without deduction to such other person or set off for counterclaimat such other address as Landlord may from time to time designate in writing. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without notice, demand, abatement, deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall offset except as may be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderexpressly set forth in this Sublease.
Appears in 1 contract
Sources: Sublease Agreement (Tanknology Environmental Inc /Tx/)
Rent. 4.1 MONTHLY BASE RENTSection 4.1. The following Schedule shall apply: • June 1st 2011 Tenant agrees to December 31stpay to Landlord as annual rent for the use of the Premises (herein referred to as "Annual Base Rent"), 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States States, the following sums: Year Annual Base Rent Monthly Installment ---- ---------------- ------------------- Commencement Date through $804,816.00 $67,068.00 February 28, 1998 March 1, 1998 - 839,808.00 69,984.00 February 28, 1999 March 1, 1999 - 874,800.00 72,900.00 February 28, 2000 11 March 1, 2000 - 909,792.00 75,816.00 February 28, 2001 Commencing on the Commencement Date, monthly installments of AmericaAnnual Base Rent shall be due and payable in advance, on the first day of each calendar month during the Lease Term. All Monthly installments of Annual Base Rent for any partial calendar months during the Lease Term shall be proportionately reduced. The first month's rent shall be due and payable upon execution of this Lease.
Section 4.2. All payments of Rent and other charges which are required to be made by Tenant to Landlord hereunder shall be made payable to Lessor’s bank account by regular electronic depositand sent to FIRST STATE REALTY OF AMERICA, without prior demand or notice INC. at the address set forth in Article 20 below.
Section 4.3. It is the purpose and without deduction or set off intent of Landlord and Tenant that Annual Base Rent shall be net to Landlord, so that this Lease shall yield, net to Landlord, the Annual Base Rent specified in Section 4.1 hereof in each year during the initial Lease Term of this Lease and the Annual Base Rent specified in Section 4.1 hereof in each year during the Extension Term hereof if renewed and that (except for counterclaim. The Lessee further agrees to pay LessorLandlord's maintenance and repair responsibilities for the Building foundation, in addition exterior walls and roof); all costs, expenses and charges directly relating to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now Premises which may arise or hereinafter imposed by any governmental authority upon become due during the rentals and all other amounts herein provided to Lease Term shall be paid by the Lessee to the Lessor. Said payment Tenant, and that Landlord shall be in addition to indemnified and accompanying each monthly rental payment made saved harmless by Lessee to LessorTenant from and against the same.
Section 4.4. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Annual Base Rent shall be paid to Landlord without deduction, offset, prior notice or demanddemand and without abatement, deduction or set-off.
Section 4.5. All taxes, charges, costs and expenses which Tenant assumes or agrees to pay under any provisions of this Lease together with all interest and penalties that may accrue thereon in the event of Tenant's failure to pay the same as herein provided, all other damages, costs and expenses which Landlord may suffer or incur, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor all other sums which may become due, by reason of Lessee’s continuing any default hereunderof Tenant or failure on Tenant's part to comply with the agreements, terms, covenants and conditions of this Lease on Tenant's part to be performed, and each or any of them, shall be deemed to be Additional Rent and, in the event of non-payment, Landlord shall have all the rights and remedies herein provided in the case of non-payment, of Annual Base Rent.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENTTenant hereby agrees to pay Landlord a base annual rental (the “Base Rent”) as follows subject to recalculation as provided in Section 1.2: Period Annual Base Rent Monthly Base Rent Months 1-6 $ 360,000.00 (ABATED ) $ 30,000.00 (ABATED ) Months 7-12 $ 360,000.00 $ 30,000.00 Months 13-18 $ 453,600.00 $ 37,800.00 Months 19-30 $ 601,001.28 $ 50,083.44 Months 31-42 $ 637,425.60 $ 53,118.80 Months 43-54 $ 660,190.80 $ 55,015.90 Months 55-60 $ 682,956.00 $ 56,913.00 For purposes of rent adjustment under the Lease, the number of months is measured from the first day of the calendar month in which the Commencement Date falls. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The Each monthly base rental due hereunder installment (the “Monthly Rent”) shall be payable to Lessor by check or by money order on or before the first day of each calendar month. Notwithstanding the foregoing, in consideration of Tenant entering into this Lease, the monthly Base Rent shall be abated for the first six (6) months after the Commencement Date and Tenant shall have no obligation to make payment of Base Rent during such six (6) month during period. Landlord and Tenant agree for tax reporting purposes that none of the Term at Base Rent due in periods in which Base Rent is not being abated shall be allocated to any other period. In addition to the address stated herein Base Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all other sums of money as shall become due and payable by Tenant as hereinafter set forth, all of which shall constitute additional rent under this Lease (the “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or to such any other persons or at such other places as Lessor may designate in writing items of Rent that are not paid by Tenant. The Monthly Rent and the Additional Rent are sometimes hereinafter collectively called “Rent” and shall be paid when due in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositwithout demand, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessordeduction, in addition to the rent as provided hereinabatement, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount as follows or as Landlord may designate from the base monthly rental time to time: Payments via FedEx/UPS/Courier: ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇▇▇ #▇, ▇▇▇▇▇ #▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attn: PREI’s Westport Office Park/100170 Payments via regular mail (lockbox address): Remit to: PREI’s Westport Office Park #171201 P. O. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Payments via either FED wire or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.ACH wire:
Appears in 1 contract
Sources: Lease Agreement (Model N Inc)
Rent. 4.1 MONTHLY BASE RENTBeginning as of the Commencement Date, LESSEE shall pay to LESSOR rent at an annual rate pursuant to the schedule below during each Lease Year (or portion thereof as the case may be) of the Lease Term hereof, (herein, "Annual Base Rent"). The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder Annual Base Rent shall be payable to Lessor by payable, in advance, in equal monthly installments, due on the first day of each month during calendar month, pursuant to the Term at schedule below. The parties acknowledge a deposit by LESSEE in the address stated sum of Fifty Thousand ($ 50,000.00) Dollars prior to the execution of this Lease (the "Deposit"). The Deposit shall be applied to the first installment of Annual Base Rent and the balance of the Deposit (i.e. $ 19,568.75) shall be applied to the second installment of Annual Base Rent. All payments of Annual Base Rent; and also Additional Operating Expense Rent, Additional Tax Escalation Rent, and any and all other sums as may be due from LESSEE to LESSOR under this Lease, all of which shall be deemed "Additional Rent"; (the foregoing to be singularly as to any item or collectively referred to herein as "Rent") shall be made to LESSOR's agent, The Abbey Corporation, ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ or to such other persons agent or at such other places place as Lessor LESSOR may designate in writing and writing. LESSEE shall be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount interest from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage date due, at an annual rate of the Premises is less than that set forth in Section 12. Rent fifteen (15%) percent for any period during the Term installments of Annual Base Rent, or Additional Rent or other payments due from LESSEE to LESSOR which is for less than one month shall be a pro rata portion of the monthly installmentare not received by LESSOR within ten days after written notice from LESSOR that Annual Base Rent, or Additional Rent or other payments were not received. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder* = CONFIDENTIAL TREATMENT REQUESTED: MATERIAL HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.SCHEDULE OF ANNUAL BASE RENT LEASE YEAR ANNUAL BASE RENT MONTHLY INSTALLMENT ---------- ---------------- ------------------- 10/97 - 9/98 Lease Year 1 $ 365,175.00 $ 30,431.25 $27.00/sq.ft. 10/98 - 9/99 Lease Year 2 $ 385,462.50 $ 32,121.88 28.50 10/99 - 9/00 Lease Year 3 $ 398,987.50 $ 33,248.96 29.50 10/00 - 9/01 Lease Year 4 $ 412,512.50 $ 34,376.04 30.50 10/01 - 9/02 Lease Year 5 $ 426,037.50 $ 35,503.13 31.50 10/02 - 9/03 Lease Year 6 $ 439,562.50 $ 36,630.21 32.50
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule Lessee shall apply: • June 1st 2011 pay to December 31st, 2011 $ 6,000 Lessor rent for the Premises of Twenty Six Thousand Nine Hundred Fifty-Seven and 00/100 Dollars ($26,957.00) per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of America, subject to adjustment as provided in Section A of this Paragraph. All rent Rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and paid without deduction or set off for counterclaim. The Lessee further agrees offset, prior notice or demand, at such place as may be designated from time to pay Lessor, in addition to the rent time by Lessor as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to follows: $9,660.00 shall be paid by upon execution of the Lessee to Lease, which sum represents the Lessoramount of the first month's rent. Said payment A deposit of $15,000.00 as a Security Deposit shall be in addition to and accompanying each monthly rental payment made by Lessee and held by Lessor pursuant to Lessor. The base rental set forth in Paragraph 5 of this Section 4.1 is a negotiated figure Lease and shall govern whether or not the actual gross rentable square footage also be paid upon execution of the Premises is Lease. [see NOTE 1] $26,957.00 [see Note 2] shall be paid on July 1, 1989 and in advance on the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage first (1st) day of the Premises is less than that set forth in Section 12each succeeding calendar month until June 1994. Rent for any period during the Term term hereof which is for less than one (1) full month shall be a pro pro-rata portion of the monthly installmentrent payment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid Lessee acknowledges that late payment by Lessee to Lessor hereunderof 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. Rent shall be paid Such costs include, without deductionlimitation, offset, prior notice or demandprocessing and accounting charges, and Lessor’s acceptance 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 NINE (9) 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 is for less than this late charge represents a fair and reasonable estimate of the entire amount then currently due hereunder shall be only as an acceptance on account and costs that Lessor will incur by reason of late payment by Lessee. Acceptance of any later charge shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of Lessee's default with respect to the overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor.
NOTE 1: The security deposit shall be increased by Six Thousand and 00/ 100 Dollars ($6,000.00) the earlier of (i) March 15, 1990 or (ii) the return of the security deposit by Tenant's current sublessor at Vintage Park.
NOTE 2: Except that during months 1 through 6, inclusive, of the term, the monthly rent shall be $9,660.00. EXCEPT AS PROVIDED WITHIN, if for any reason whatsoever, Lessor by reason can not deliver possession of Lessee’s continuing default hereunderthe 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. EXCEPT AS PROVIDED WITHIN, In the event that Lessor shall permit Lessee to occupy the Premises prior to the commencement of this Lease, such occupancy shall be subject to all of the provisions of this Lease, including the commencement of rent and obligation to maintain insurance.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENTIn consideration of this Lease, during the Term, Lessee shall pay to Lessor the amounts set forth in Exhibit C as annual basic rent for the Premises (“Basic Rent”). The following Schedule Lessee shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be pay Basic Rent and all other sums payable to Lessor hereunder to Lessor (or, upon Lessor’s request, to any mortgagee(s) or beneficiary(ies) identified by Lessor (whether one or more, the “Mortgagee”) under any mortgages, deeds of trust or similar security instruments creating a lien on the interest of Lessor in the Premises (whether one or more, the “Mortgage”)) by wire transfer, in immediately available funds, as follows: Bank: LaSalle Bank, Chicago, Illinois ABA Routing #: 071 000 505 Account Number: 5201 588 695 Account Name: NL Ventures V LP Rent Account Bank Contact: T▇▇ ▇▇▇▇▇ @ 7▇▇-▇▇▇-▇▇▇▇, or at such other address or to such other person as Lessor from time to time may designate. Lessor shall give Lessee not less than fifteen (15) days prior written notice of any change in the address to which such payments are to be made. If the party entitled to receive Basic Rent or such party’s address shall change, Lessee may, until receipt of notice of such change from the party entitled to receive Basic Rent or other sums payable hereunder immediately preceding such change, continue to pay Basic Rent and other sums payable hereunder to the party to which, and in the manner in which, the preceding installment of Basic Rent or other sums payable hereunder, as the case may be, was paid. Such Basic Rent shall be paid in equal monthly installments in advance on the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of Americamonth. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly Any rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is respect of a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be prorated by multiplying the then applicable monthly Basic Rent by a pro rata portion fraction the numerator of which is the monthly installmentnumber of days in such month with respect to which rent is being paid and the denominator of which is the total number of days in such month. The term “rent” as used hereinLessee shall perform all its obligations under this Lease at its sole cost and expense, unless otherwise specifiedand shall pay all Basic Rent, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid payable hereunder when due and payable, without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 to December 31stTenant will pay Landlord in advance without demand, 2011 $ 6,000 deduction or setoff at the address set forth in the notice provision for Landlord or at such other place as Landlord may designate in writing the sum of Forty-Nine Thousand Thirty-Six and 11/100ths Dollars ($49,036.11) per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The as rent (the "Initial Monthly Rent") in consecutive monthly base rental due hereunder shall be payable to Lessor by installments on or before the first day of each month during the Term at term of this Lease, with the address stated herein or to such first installment being due and payable October 1, 2004; provided, however, if the Commencement Date is other persons or at such other places as Lessor may designate in writing and than the first day of the month, a pro-rated monthly installment shall be paid in lawful money advance on the Commencement Date for any fraction of the United States month in which Commencement Date occurs, provided, further, that if the rent for such month has been previously paid to Landlord in accordance with the pre-existing leases between the parties for the Plant and the Warehouse, then no rent will be due from Tenant under this Lease for the month in which the Commencement Date occurs. Any rent payment not received by five (5) days following written notice that the same is past due shall incur a late charge of Americafive percent (5%) of such delinquent amount to defray Landlord's administrative costs in collecting such unpaid amount, provided, however, that Tenant will not be entitled to more than one (1) notice for default in payment of rent or other monetary obligation during any twelve-month period, and if, within twelve (12) months after any such notice, any subsequent payment of rent or any other monetary obligation has not been received by Landlord within five (5) days of the due date thereof, then the late charge will be assessed without further notice. All rent The Initial Monthly Rent shall be payable throughout the initial term of this Lease. If Tenant elects to Lessor’s bank account by regular electronic depositrenew this Lease in accordance with paragraph 3 above, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to rent during the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment first renewal term shall be in addition to the sum of Fifty-Two Thousand Three Hundred Forty-Six and accompanying each monthly rental payment made by Lessee to Lessor04/100ths Dollars ($52,346.04) per month. The base rental set forth in this Section 4.1 is a negotiated figure and Rent for any additional renewal terms shall govern whether or not be at the actual gross rentable square footage market rate of the Premises is the same rent as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderparagraph 3 above.
Appears in 1 contract
Sources: Net Lease (Packaging Dynamics Corp)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule Lessee shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable pay to Lessor by rent for the first day Premises of each Eight thousand ----- month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of America, subject to adjustment as provided in Section A of this Paragraph. All Rent 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: $8,744.00 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 $17,488.00 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 for the 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 payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, paid in addition to advance on the rent first (1st) day of each calendar month as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section follows: Months Monthly Rent/NNN ---------------- 01-06 $ 8,744.00 07-12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. $18,698.00 13-24 $19,397.00 25-36 $20,124.00 37-48 $20,881.00 49-60 $21,668.00 Rent for any period during the Term term hereof which is for less than one (1) full month shall be a pro pro-rata portion of the monthly installmentrent payment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid Lessee acknowledges that late payment by Lessee to Lessor hereunderof 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. Rent shall be paid Such costs include, without deductionlimitation, offset, prior notice or demandprocessing and accounting charges, and Lessor’s acceptance 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 is for less than this late charge represents a fair and reasonable estimate of the entire amount then currently due hereunder shall be only as an acceptance on account and costs that Lessor will incur by reason of late payment by Lessee. Acceptance of any late charge shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of Lessee's default with 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 occupy the Premises prior to the commencement date of the term, such occupancy shall be subject to all of the provisions of this Lease, including the obligation to pay rent at the same monthly rate as that prescribed for the first month of the Lease 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.
A. Cost-of-Living Increase. Not applicable. -----------------------
B. All taxes, insurance premiums, Outside Area Charges, late charges, costs and expenses which Lessee is required to pay hereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all reasonable damages, costs, and attorney's fees and expenses which Lessor may incur by reason of any default of Lessee or failure on Lessee’s continuing default hereunder's part to comply with the terms of this Lease, shall be deemed to be additional rent (hereinafter, "Additional Rent"), and, in the event of non-payment by Lessee, Lessor shall have all of the rights and remedies with respect thereto as Lessor has for the non-payment of monthly installment of rent.
Appears in 1 contract
Sources: Lease (Oratec Interventions Inc)
Rent. 4.1 MONTHLY BASE RENT. (a) Commencing on the Rent Commencement Date, as defined in this paragraph, LESSEE shall pay LESSOR as monthly "Rent" for the Leased Premises one half (50%) of all compensation received by LESSEE for Premises as stated in paragraph 7 of the Master Marketing Agreement dated May 10, 2023 (“MMA”), between the Village of Wellington and Arcadia Infrastructure I, LLC (“Arcadia”).. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder Rent shall be payable to Lessor by in equal monthly installments in advance on the first day of each month during to LESSOR; rent for any partial month will be prorated. LESSEE must pay all Rent timely and without demand, deduction, or offset, except as required by law or this Agreement. Time is of the Term essence for the payment of Rent (strict compliance with Rent due dates is required). If LESSOR does not actually receive a Rent payment in the full amount at the address stated herein or to such other persons or designated place of payment by the tenth day of each month at such other places as Lessor may designate in writing and shall be paid in lawful money 11:59 PM Eastern Standard Time, LESSEE will pay LESSOR for each late payment ten percent (10%) of the United States of America. All rent shall be payable to Lessorone month’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaimRent. The Lessee further agrees to pay Lessor, in addition parties agree that the late charge is based on a reasonable estimate of uncertain damages to the rent as provided herein, all privilege, sales, excise, rental LESSOR that are incapable of precise calculation and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said result from late payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunderRent. Rent shall be paid without deductionsent to LESSOR at the following address, offsetwhich address may be changed from time to time during the Term by written notice to LESSEE given pursuant to Section 16: ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, prior notice ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, or demanddeposited electronically to LESSOR’s account per information provided by LESSOR to LESSEE, or by any other means acceptable to LESSOR. As used herein, “Rent Commencement Date” means the earlier of (i) six (6) months after the Commencement Date, and Lessor’s acceptance of any rent payment that is for less than (ii) the entire amount then currently due hereunder shall be only as an acceptance date on account and shall not constitute an accord and satisfaction or a waiver by Lessor which LESSEE and/or its subtenant completes construction of the balance of Telecommunications Facility at the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderLeased Premises.
Appears in 1 contract
Sources: Ground Lease Agreement
Rent. 4.1 MONTHLY BASE RENT(a) During the Interim Term and the first twelve (12) months of the Primary Term, Lessee shall pay to Lessor the annual amount set forth in Schedule B and thereafter, during the remainder of the Primary Term and any Extended Term, Lessee shall pay Lessor an annual amount calculated in accordance with Section 1.05(b) below (the amounts payable by Lessee pursuant to this sentence, “Basic Rent”). The following Schedule Basic Rent shall apply: • June 1st 2011 be paid by wire transfer or (at Lessee’s option) electronic funds transfer as directed by Lessor or to December 31st, 2011 $ 6,000 per month • January 1st 2012 such other person as Lessor from time to December 31st, 2012 $ 9,000 per month • January 1st 2013 time may designate. Lessor shall give Lessee not less than thirty (30) days’ notice of any change in the account or the address to December 31st, 2013 $ 10,500 per month • January 1st 2014 which such payments are to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder be made. Such annual rentals shall be payable to Lessor by in equal monthly installments in advance on the first day of each month during month, with the rental payment for the Initial Term at due and payable on the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of AmericaEffective Date. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly Any rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is respect of a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be prorated by multiplying the then-applicable monthly rental by a pro rata portion fraction, the numerator of which is the monthly installmentnumber of days in such month with respect to which rent is being paid and the denominator of which is the total number of days in such month. The term “rent” as used hereinLessee shall perform all its obligations under this Lease at its sole cost and expense and shall pay all Basic Rent, unless otherwise specified, shall refer collectively to the monthly base additional rent and any other sums required to be paid by Lessee to Lessor hereunder. sum due hereunder when due and payable without notice or demand.
(b) Beginning with the first day of the second year (i.e., the first day of the thirteenth (13th) month) of the Primary Term and on the first day of each successive year thereafter (such dates each being an “Adjustment Date”), Basic Rent shall be paid without deductionincreased as follows:
(i) With respect to years two (2) through five (5) of the Primary Term, offsetBasic Rent shall be one hundred two percent (102%) of the Basic Rent from the immediately prior year; and
(ii) For the remainder of the Term, Basic Rent shall increase by an amount equal to the product of (A) the percentage change (the “Percentage Change”) between the Price Index (as defined below) for the calendar month that is three (3) months prior notice or demandto the immediately preceding Adjustment Date, and Lessor’s acceptance of any rent payment the Price Index for the calendar month that is for less than three (3) months prior to the entire amount then currently due hereunder applicable Adjustment Date, multiplied by (B) Basic Rent in effect immediately prior to the applicable Adjustment Date; provided, however, that (1) the Percentage Change shall never exceed two percent (2%) and (2) the Percentage Change shall not operate to decrease Basic Rent. “Price Index” shall mean the CPIU, U.S. City Average, all items (1982-84 = 100), as prepared by the U.S. Bureau of Labor Statistics. Notwithstanding anything herein to the contrary, Basic Rent shall in no event be reduced as a result of the application of the Basic Rent adjustment formula described in this Section 1.05(b). In the event that the Price Index ceases to be published, its successor index as published by the same governmental agency which published the Price Index shall be only as an acceptance on account substituted and any necessary reasonable adjustments shall not constitute an accord and satisfaction or a waiver be made by Lessor and Lessee in order to carry out the intent of this Section 1.05(b). In the balance of event there is no successor index to the rent due or Price Index, the Lessor shall reasonably select an alternative price index that will constitute a waiver of any of reasonable substitute for the remedies available to Lessor by reason of Lessee’s continuing default hereunderPrice Index.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 Lessee covenants and agrees to December 31stpay Lessor at ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, 2011 $ 6,000 per month • January 1st 2012 ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, or to December 31stsuch other party or at such other place as Lessor may hereafter designate, 2012 $ 9,000 per month • January 1st 2013 to December 31stmonthly rent in advance without offset or deduction, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by on or before the first (1st) day of each month of the Lease term in the amounts as follows: Months: Base Rent: ------ --------- 1 through 36 $7,895.00 per month 37 through 60 $8,606.00 per month 4. SECURITY DEPOSIT. Lessee has deposited with Lessor on the date hereof Eight Thousand Six Hundred and Six and No/100 dollars ($8,606.00). Said sum shall be held by Lessor as security for the faithful performance by Lessee of all the terms, covenants and conditions of this Lease to be kept and performed by Lessee during the entire Term at hereof. If Lessee defaults with respect to any provision of this Lease, including, but not limited to, the address stated herein provisions relating to the payment of Minimum Rent, Percentage Rent, Adjustments or other charges or sums due under this Lease, Lessor may (but shall not be required to) use, apply or retain all or any part of the security deposit for the payment of any Minimum Rent, Percentage Rent, Adjustments or other charges or sums due under this Lease or any sum in default, or for the payment of any amount which Lessor may spend or become obligated to spend by reason of Lessee's default, or to such compensate Lessor for any other persons loss, damage, cost or at such other places as expense (including attorneys' fees) which Lessor may designate suffer or incur by reason of Lessee's default. If any portion of said security deposit is so used or applied, Lessee shall, within five (5) days after written demand therefor, deposit a certified or cashier's check with Lessor in writing an amount sufficient to restore the security deposit to its original amount and shall be paid in lawful money of the United States of America. All rent shall be payable Lessee's failure to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month do so shall be a pro rata portion default under this Lease. Lessor shall not be required to keep the security deposit separate from its general funds and Lessee shall not be entitled to interest on such deposit. If Lessee shall fully and faithfully perform every provision of this Lease to be performed by it, the security deposit or any balance thereof after deduction hereunder by Lessor shall be returned to Lessee (or, at Lessor's option, to the last assignee of Lessee's interest hereunder) within thirty (30) days following expiration of the monthly installment. The term “rent” as used hereinLease Term; provided, unless otherwise specified, shall refer collectively to that in the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent event this Lease shall be paid without deductionterminated upon the default of the Lessee, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder security deposit shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver retained by Lessor and all of Lessee's interest therein shall terminate and the balance of security deposit will be applied against the rent due or a waiver of any of the remedies available to damages suffered by Lessor by reason of the Lessee’s continuing default hereunder's default. In the event of termination of Lessor's interest in this Lease, Lessor shall transfer said deposit to Lessor's successor in interest.
Appears in 1 contract
Sources: Industrial Lease (Icos Corp / De)
Rent. 4.1 MONTHLY BASE RENTRental accrues from the Commencement Date, and is payable to Landlord, at Landlord’s address as provided herein or at such other address as Landlord may designate in writing to Tenant from time to time.
4.2 Tenant must pay to Landlord minimum guaranteed rental in monthly installments in the amounts specified in Section 1.1(m) of this lease. The following Schedule shall apply: • June 1st 2011 to December 31stfirst such monthly installment is due and payable on or before the Commencement Date, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental and subsequent installments are due hereunder shall be and payable to Lessor by on or before the first day of each succeeding calendar month during the Term at lease term; provided that if the address stated herein Commencement Date is a date other than the first day of a calendar month, Tenant must pay on or before such date as minimum guaranteed rental for the balance of such calendar month a sum equal to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money that proportion of the United States rent specified for the first full calendar month as herein provided, which the number of America. All rent shall be days from the Commencement Date to the end of the calendar month during which the Commencement Date falls bears to the total number of days in such month.
4.3 It is understood that the minimum guaranteed rental is payable to Lessor’s bank account by regular electronic depositon or before the first day of each calendar month (in accordance with Section 4.1 and Section 4.2 above), without prior demand offset or notice and deduction of any nature. In the event any rental or other amount owed to Landlord (including, without deduction limitation, any amounts owed under the terms of this Article 4, or set off under Article 6, Article 7, or Article 8 below) is not received by Landlord before the date which is ten (10) days after such amount’s due date, for counterclaim. The Lessee further agrees to pay Lessorany reason whatsoever, or if any payment for such an amount is by check which is returned for insufficient funds, then in addition to the rent as provided hereinpast due amount, all privilegeTenant must pay to Landlord one of the following (the choice to be at the sole option of the Landlord unless one of the choices is improper under applicable law, salesin 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 or other amount then due, excise, rental in order to compensate Landlord for its administrative and other taxes overhead expenses; or (except income taxesb) imposed now interest on the rental or hereinafter imposed other amount then due at the maximum contractual rate which could legally be charged in the event of a loan of such amount to Tenant (but in no event to exceed 1½% per month), such interest to accrue continuously on any unpaid balance during the period commencing with the due date of such rental or other amount and terminating with the date on which Tenant makes full payment of all amounts owing to Landlord at the time of such payment. Any such late charge or interest payment is payable as additional rental under this lease and is payable immediately on demand. If any payment for rental or other amount owed to Landlord (including, without limitation, any amounts owed under the terms of this Article 4, or under Article 6, Article 7, or Article 8 below) is by any governmental authority upon check which is returned for insufficient funds, Tenant must immediately make the rentals and required payment to Landlord in good funds; moreover, Tenant must also pay to Landlord all other amounts herein provided specified by the terms of this lease (including, without limitation, interest or other charges required under the terms of this Article 4, or under Article 6, Article 7, or Article 8 below), plus an additional fee of $50.00 to compensate Landlord for its expense and effort in connection with the dishonored check.
4.4 Tenant must, within ten (10) days after a request from Landlord (but not more than once per calendar year), deliver to Landlord such financial statements as are reasonably required by Landlord to verify the net worth of Tenant and any guarantor of Tenant’s obligations under this lease (including, without limitation, a balance sheet showing the then-current net worth of Tenant together with a profit and loss statement for the most current fiscal year of Tenant). In the event that Tenant is a subsidiary comprising only the operations conducted at the Demised Premises, Tenant must also provide such statements from the parent company or larger business of which Tenant is a part. In the event that Tenant is an individual, the financial statement must include the operations conducted at the Demised Premises as well as all other business activities of Tenant.
4.5 If Tenant fails in two consecutive months to make rental payments within ten 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 4.3 above, as well as any other rights and remedies accruing pursuant to Article 22 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 Lessee to the Lessordelivery of Tenant’s personal or corporate check will no longer constitute a payment of rental as provided in this lease. Said payment shall be in addition to and accompanying each Any acceptance of a monthly rental payment made or of a personal or corporate check thereafter by Lessee to Lessor. The base rental set forth Landlord cannot be construed as a subsequent waiver of such rights.
4.7 Landlord and Tenant agree that each provision contained in this Section 4.1 Lease for determining any rent payments is commercially reasonable and, as to each such charge or amount, constitutes a negotiated figure and shall govern whether or not “method by which the actual gross rentable square footage of the Premises charge is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid computed” for purposes of Tex. Prop. Code ▇▇▇. §93.012, as enacted by Lessee to Lessor hereunder. Rent shall be paid without deductionHouse ▇▇▇▇ 2186, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder77th Legislature.
Appears in 1 contract
Sources: Office Lease (Quality Systems Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 Notwithstanding anything to December 31stthe contrary contained in the Lease, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental the Rent due hereunder under the Lease shall be payable modified as follows:
A. Provided Tenant is not then in Default under any of the terms, covenants or conditions of the Lease, effective on July 1, 2008 and continuing through December 31, 2020, annual Base Rent for 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 Lessor by the first day of each month 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 Term, toward all or any portion of Rent or any component of Rent, provided that at the address stated herein time Tenant seeks to apply the Rent Credit, Tenant is not in Default under any of the terms, covenants or to such other persons or at such other places as Lessor may designate in writing and conditions of the Lease.
C. Effective January 1, 2021, the Base Rent shall be paid in lawful money adjusted to equal one hundred percent (100%) of the United States Prevailing Market Rent (as 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 America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice space in the Building and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition 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 rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee extent practicable with respect to the Lessor. Said payment shall be in addition to condition, location and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage use of the Premises (“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 written notice to Tenant of Landlord’s determination of the Prevailing Market Rent during such period shall be considered in determining the Prevailing 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 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 same 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 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 (10) days after the date the parties commence negotiations, then Landlord and Tenant shall follow the procedure set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage 43.C of the Premises is less than Original Lease, provided that set forth in Section 12. Rent for any period during the Term which is for less than one month term “Market Rental Rate” therein shall be a pro rata portion of the monthly installment. The term “rentPrevailing Market Rent” as used defined herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.
Appears in 1 contract
Sources: Lease (Northern Trust Corp)
Rent. 4.1 MONTHLY BASE RENT2.1 The annual base rental (hereinafter called "Annual Base Rental") for the Premises shall be TWO HUNDRED FORTY EIGHT THOUSAND NINE HUNDRED FORTY AND 50/100 DOLLARS ($248,940.50). The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder Annual Base Rental shall be payable to Lessor by in equal monthly installments of TWENTY THOUSAND SEVEN HUNDRED FORTY FIVE AND 04/100 DOLLARS ($20,745.04) (hereinafter called "Base Rent") in advance on the first day of each and every calendar month during the Term Lease Term. Base Rent shall be prorated at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money rate of 1/30th of the United States of AmericaBase Rent per day for any partial month. All Beginning February 1, 2000, and each February 1 thereafter throughout the Lease Term, the Annual Base Rental and Base Rent shall automatically increase by an amount equal to three percent (3%) over the preceding twelve months Annual Base Rental and Base Rent.
2.2 Lessee shall pay the rent shall be payable to Lessor’s bank account by regular electronic depositand all other sums, without prior demand amounts, liabilities, and obligations which Lessee herein assumes or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay (whether designated Base Rent, additional rent, costs, expenses, damages, losses, or otherwise) (all of which are hereinafter called "Amount Due") as herein provided promptly at the times and in the manner herein specified without deduction, setoff, abatement, counterclaim, or defense except as otherwise provided in this lease. If any Amount Due is not received by Lessor on or before the date on which it is due, Lessee shall pay Lessor a late charge equal to five percent (5%) of the amount of such past due payment, notwithstanding the date on which such payment is actually paid to Lessor. If such Amount Due is not paid within thirty (30) days of the date on which it was originally due, then, in addition to such late charge, Lessee shall pay Lessor interest on such Amount Due from the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon date on which it was originally due until the rentals and all other amounts herein provided to be date it is actually paid by the Lessee at a rate per annum equal to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not lesser of (i) the actual gross rentable square footage prime rate of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.interest announced by
Appears in 1 contract
Sources: Lease (Fundtech LTD)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 (i) Tenant hereby covenants and agrees to December 31stpay to Landlord during the Term, 2011 $ 6,000 per month • January 1st 2012 at the office of Landlord, or such other place as Landlord may from time to December 31sttime designate, 2012 $ 9,000 per month • January 1st 2013 to December 31stwithout any offset, 2013 $ 10,500 per month • January 1st 2014 to December 31stabatement, 2014 $ 11,500 per month • January 1st 2015 to November 30thcounterclaim, 2015 $ 13,000 per month The or deduction whatsoever, (x) the Base Rent specified in paragraphs (iii) and (iv) of this Section 1.3 in equal monthly base rental due hereunder shall be payable to Lessor by installments on the first day of each month during the Term Term, commencing in the Base Rent Commencement Date, in advance, without notice or demand, except that Tenant shall pay the first monthly installment (or if the Commencement Date shall fall on a day other than the first day of a month, such payment shall be the second monthly installment) on the date of the execution of this Lease, (y) all Additional Rent as herein provided, and (z) all other sums payable by Tenant hereunder.
(ii) If the Base Rent Commencement Date shall fall on a day other than the first day of a month, the Base Rent and any Additional Rent payable hereunder shall be apportioned for the number of days remaining in that month.
(iii) Tenant shall pay as Base Rent for the Premises during the period commencing on the Base Rent Commencement Date set forward above and ending on July 31, 2010, the sum of Two Hundred Eighteen Thousand Eight Ninety-Six DOLLARS ($218,896.00) per annum, payable in equal monthly installments in the sum of Eighteen Thousand Two Hundred Forty One DOLLARS and Thirty Three CENTS ($18,241.33) per month. Total Base Rent without adjustments or Additional Rent over a five (5) year period is One Million Ninety-Four Thousand Four Hundred and Eighty DOLLARS ($1,094,480.00)
(iv) The base annual rental cost of $218,896.00, will be adjusted, commencing with the August 1, 2007 payment and annually thereafter by making an adjustment based on the increase in the Consumer Price Index using the month of August 2005as the base, and the Index for May of each subsequent year as the adjustment date. The reason for utilizing a May Consumer Price Index as a base for subsequent year adjustments is that the publication of these indices is generally three (3) months in arrears and, accordingly, the May Index figure will be the most recently published Index at the address stated herein or to such other persons or at such other places as Lessor may designate time of the annual adjustment. As used in writing this paragraph, "Consumer Price Index" shall mean: "Consumer Price Index for Urban Wage Earners and shall be paid in lawful money Clerical Workers (1982-84 100) for New York City and Northern New Jersey Issued by the Bureau of Labor Statistics of the United States Department of America. All rent shall be payable to Lessor’s bank account by regular electronic depositLabor" (hereafter, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor"Index"). The base month of the Index (hereafter "Base Month") shall be August 2005. The base annual rental set forth in this Section 4.1 is a negotiated figure the amount of $218,896.00shall be increased by the same percentage, if any, as the Index for May of each subsequent year has increased from the base Index. The aforesaid resultant increase shall be divided by twelve (12) and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right be added to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if of $18,241.33 to determine the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the new monthly base rent and any other sums required rental to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance commencing on July of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereundereach lease year.
Appears in 1 contract
Sources: Lease Agreement (Asta Funding Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule 3.1 Sublessee shall apply: • June 1st 2011 pay to December 31stSublessor as net monthly rent for the Premises the amounts set forth below, 2011 $ 6,000 per month • January 1st 2012 to December 31stin advance, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by on the first day of each month of the term hereof: Months of Term Monthly Rent Until February 28,1997 $0/month March 1,1997 - Dec. 31,1998 $93,725.00/month Jan 1,1999 - Dec. 31, 2000 $101,875.00/month Sublessee shall pay Sublessor upon the execution hereof the sum of Ninety-three Thousand Seven Hundred and Twenty Five Dollars ($93,725.00) as rent in advance for the first month due. Rent for any period during the Term term hereof which is for less than one month shall be prorated. Rent shall be payable in advance on the 1st day of each month during the term, without notice or demand without any deduction, offset, or abatement (except to the extent expressly permitted by this Sublease) in lawful money of the United States of America to Sublessor at the address stated herein or to such other persons or at such other places as Lessor Sublessor may designate in writing and writing.
3.2 Notwithstanding anything to the contrary in this Sublease, Sublessee shall not be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees required to pay Lessorany Impositions, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental maintenance charges or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than charges, costs or expenses that set forth in Section 12. Rent for any period during the Term which is for less than one month shall may be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee Sublessee under the terms of this Sublease (except utilities for the Premises) until rent commencement or March 1,1997, whichever occurs first. Sublessee recognizes its obligations to Lessor hereunderpay Sublessee's liability insurance premiums as required after the Commencement Date.
3.3 Sublessee hereby acknowledges that late payment by Sublessee to Sublessor of rent and other sums due hereunder will cause Sublessor to incur costs not contemplated by this Sublease, the exact amount of which will be difficult to ascertain. Rent shall be paid without deductionSuch costs include, offsetbut are not limited to, prior notice or demandprocessing and accounting charges, and Lessor’s acceptance of any rent payment that is for less than late charges which may be imposed on Sublessor by the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor terms of the balance Lease. Accordingly, if any installment of rent or other sums due from Sublessee is not received by Sublessor within five (5) business days after its due date, Sublessee shall pay to Sublessor a late charge equal to five percent (5%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the rent due or costs Sublessor will incur by reason of late payment by Sublessee based upon the circumstances existing as of the date of this Sublease. Acceptance of such late charge by Sublessor shall in no event constitute a waiver of Sublessee's default with respect to such overdue amount, nor prevent Sublessor from exercising any of the its other rights or remedies available granted to Lessor it by reason of Lessee’s continuing default hereunder.law or this Sublease. Initials: /s/ RDN (Sublessor) /s/ MKA (Sublessee) ------- -------
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule 3.1 Tenant shall apply: • June 1st 2011 pay to December 31stLandlord without notice or demand, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by in advance on the first day of each calendar month during the Term at term hereof, without any setoff, counterclaim or deduction for any reason whatsoever, rent in the address stated herein or amount of Nine Thousand Five Hundred and Ten Dollars ($9,510.00).
3.2 As of August 1, 1989 and each annual anniversary of said date during the term of this Agreement and any extension period, the rent as payable pursuant to such other persons or at such other places as Lessor may designate in writing and Article 3.1 shall be paid revised and increased in lawful money of the same proportion as the increase, if any, in the Consumer Price Index, All Urban Consumers, New York, New York - Northeastern New Jersey, All Items, issued by the United States Department of America. All rent shall be payable to Lessor’s bank account Labor, Bureau of Labor Statistics (hereinafter called the "CPI") for June immediately preceding such date over the CPI for June, 1988, by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to multiplying the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereofArticle 3.1 by a fraction, the denominator of which shall be the CPI for June 1988 and the numerator of which shall be the CPI for June immediately preceding such date. Lessee In no event shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent rent for any period during the Term which is for less than one month shall as so adjusted be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder rent for the immediately preceding period. If the CPI is revised or discontinued, Landlord shall substitute such other appropriate government shall be only no further extension options, provided that Tenant index to obtain insofar as an acceptance on account is practicable the same result as would have been obtained if the CPI had not been revised or discontinued.
3.3 Upon the execution hereof, Tenant shall deliver to Landlord the rent for August 1988, together with Nineteen Thousand and Twenty Dollars ($19,020.00) as security for Tenant's full and faithful performance of its obligations under this Lease. In the event that Tenant fails to fulfill any such obligations, Landlord shall not constitute an accord and satisfaction have the right to apply any or a waiver by Lessor part of said security deposit against such obligation. Promptly under Landlord's demand, Tenant shall make any further deposits which may be necessary in order to replenish any part of the balance aforesaid security deposit so applied by Landlord. Upon the expiration of this Agreement, Landlord shall refund to Tenant the rent due or a waiver of security deposit, without interest, less any of the remedies available to Lessor by reason of Lessee’s continuing default deductions heretofore made hereunder.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The Lessee shall make the following Schedule shall applyrental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: • June 1st First Year: October 1, 2011 to December 31stOctober 1, 2011 $ 6,000 2012@ $7,446.17 per month • January 1st 2012 to December 31st($21.50 per gross sq ft)
(b) The aforesaid rent amount is inclusive of an estimated expense for utilities, 2012 $ 9,000 per month • January 1st 2013 to December 31sttaxes, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental insurance and janitorial services and may be adjusted annually as provided in Section 3.01.
(c) Rent is due hereunder shall be payable to Lessor by on the first day of each month. Rents received after the tenth (10th) day of any month during will include a $25 late fee. Rent not received by the Term last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the address stated herein or to such other persons offices of Pellissippi Pointe LLC, or at such other places address as Lessor may from time to time designate to Lessee by notice in writing the manner hereinafter provided.
(d) Lessee covenants and shall be paid in lawful money agrees to pay Lessor as rent hereunder for the Demised Premises during the Option Terms as monthly rent an amount as follows:
(1) Each year of the United States initial term and each year of America. All the subsequent Option Period the rent shall be payable to Lessor’s bank account adjusted by regular electronic depositthe amount of the change in the Consumer Price Index (CPI) cost of living as reported by the Federal Government with a maximum of 2.5% per year. All taxes, without prior demand or notice charges, costs and without deduction or set off for counterclaim. The expenses which Lessee further agrees is required to pay Lessorpursuant to Section 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in addition the event of Lessee's failure to the rent as provided hereinpay such amounts, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to damages, costs and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term expenses which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor may incur by reason of any default of Lessee or failure on Lessee’s continuing default hereunder's part to comply with the terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and, in the event of nonpayment by Lessee, Lessor shall have all the rights and remedies with respect thereto as Lessor has for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Sources: Lease Agreement
Rent. 4.1 MONTHLY BASE RENT. The (a) Commencing on the Effective Date, Lessee covenants to pay to the Lessor the following Schedule shall apply: • June 1st 2011 to December 31stmonthly rent payments (collectively, 2011 $ 6,000 per month • January 1st 2012 to December 31stthe "Rental Obligations"): twenty-four (24) consecutive monthly rent payments in the amount of Fifteen Thousand Eight Hundred and 00/100 Dollars ($15,800.00) each (singularly and collectively, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30ththe "Rent") payable on August 8, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by and continuing on the first eighth (8th) day of each month during thereafter, with a final payment due on July 8, 2017. Lessee shall pay to Lessor a security deposit in the Term at amount of $15,800.00 (the address stated herein or to such other persons or at such other places as Lessor may designate in writing and “Security Deposit”) which shall be paid in lawful money held by Lessor as security for repayment of the United States Rental Obligations. If Lessor shall apply the Security Deposit from time to time to the Rental Obligations, Lessee shall immediately replenish the amount of Americathe Security Deposit so applied, and Lessee grants to Lessor a security interest in the Security Deposit.
(b) Rent shall be due whether or not Lessee has received any notice that such payments are due. All rent If Lessee fails to pay within two (2) business days of the due date, any Rent or other amount required to be paid to Lessor under this Lease, Lessee shall pay to Lessor a service charge of an additional five (5.0%) percent of any Rent payment or other payment not received by Lessor each thirty (30) days thereafter said payment has not been paid, which service charge shall be payable to Lessor’s bank account by regular electronic depositon the next monthly payment date or on demand, without prior demand plus interest on such delinquent obligation or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided from the due date thereof until paid at a rate equal to be paid by twenty two (22.0%) percent per annum (the Lessee to the Lessor“Default Rate”). Said payment shall be in addition to It is expressly understood and accompanying each monthly rental payment made agreed by Lessee that failure to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether make timely payment of any Rent payment or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee hereunder within two (2) business days following its due date shall constitute an Event of Default hereunder, and that Lessor may, at Lessor's sole option, accelerate the entire Rental Obligations for the entire balance of the remaining Term and any other amounts owing hereunder without further notice to Lessee, such that the above referenced Default Rate of interest shall be applied against the entire outstanding balance of the obligations owing by Lessee to Lessor hereunderunder this Lease. Lessor's notice of a payment default under this subsection (b) and/or under Section 10 may be sent by Lessor to Lessee by email in the form attached hereto as "Exhibit B".
(c) Lessee covenants to Lessor that Lessee shall also pay and shall discharge when due all charges, levees and other obligations of Lessee, including but not limited to, personal property taxes and annual license fees for the use and operation of the Assets, arising hereunder and pursuant hereto. Lessee shall deliver to Lessor copies of paid receipts for all such obligations.
(d) All Rent shall be paid without deductionby Lessee to Lessor at its address set forth in this Lease or as otherwise directed by Lessor in writing. Lessor and Lessee acknowledge and agree that as of the Effective Date, offsetall accounts payable due to Lessee are required to be paid to an account (the “Lockbox Arrangement”) held at American Chartered Bank with account number ▇▇▇▇▇▇▇▇ (“Lockbox Account”) under the exclusive control of Lessor. So long as the Lockbox Arrangement remains in place, prior notice or demand, Lessee hereby directs the holder of the Lockbox Account to pay to Lessor from the Lockbox Account all amounts due and owing to the Lessor under this Lease. Upon Lessor’s acceptance request, Lessee will sign a written direction confirming such direction.
(e) Any installment of any rent payment the Rental Obligations that is returned for less than the entire amount then currently due hereunder insufficient funds shall be only as an acceptance on account subject to a charge of Fifty and No/100 Dollars ($50.00) and all service charges and default interest rates shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderapply.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule 2.01 Throughout the Term of this Lease, TENANT shall apply: • June 1st 2011 pay to December 31stLANDLORD at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, 2011 $ 6,000 per month • January 1st 2012 to December 31st▇▇▇▇▇▇, 2012 $ 9,000 per month • January 1st 2013 to December 31st▇▇▇ ▇▇▇▇ or such other place as LANDLORD may designate by written notice, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The a Basic Annual Rent in the amount of $564,000.00 in advance in equal monthly base rental due hereunder shall be payable to Lessor by installments of $47,000.00 each on the first day of each and every month during the Term hereof without notice, demand, off-set or abatement. In the event of early termination of lease, rebate at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money discretion of the United States of AmericaLANDLORD may be withdrawn. All December 15, 2005 2 /s/ JD Initial /s/ JU Effective March 1, 2006, the basic annual rent shall be payable to Lessor’s bank account by regular electronic depositin the amount of $600,000 in equal monthly installments of $50,000. In consideration of entering into this agreement, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further CDI agrees to a rent rebate for the six-month period from October 2005 through March 2006. (Including base rent; taxes; utilities and other obligations).
2.02 TENANT has paid pay Lessorthe first full month’s rent upon the signing hereof. Said Rent was applicable to the month of March, 2004.
2.03 Not withstanding anything to the contrary contained in this lease and notwithstanding of the other remedies of the LANDLORD contained herein, in addition the event that any item of Basic Annual Rent or Additional Rent is not paid to the rent LANDLORD within ten days of the due date thereof, then and in that event TENANT shall pay to the LANDLORD as provided hereina fee for LANDLORD’s additional cost in connection with LANDLORD’s bookkeeping, all privilegeaccounting, salesetc., excisean amount equal to six cents for each dollar of Basic Annual Rent or Additional Rent not paid by such date. It is understood by the TENANT that the LANDLORD is required to make payments for over-rent, rental taxes, and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals expenses and all other amounts herein provided to that LANDLORD would be severely damaged if Basic Annual Rent and Additional Rent is not paid by the Lessee to the Lessor. Said payment shall be in addition to when due.
2.04 Commencing on March 1, 2007 and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver Term of any this lease, the TENANT will get increases in the Basic Annual Rent of (4%) per year over the remedies available term of this lease.
2.05 TENANT may exercise its right to Lessor by reason of Lessee’s continuing default hereundervacate the premises upon giving twelve months notice and continued payments to LANDLORD.
Appears in 1 contract
Sources: Lease Agreement (Cargo Connection Logistics Holding, Inc.)
Rent. 4.1 MONTHLY BASE RENT1. The following Schedule shall apply: • June 1st 2011 to December 31stfirst Rent payment for the period beginning (Sample) November 1, 2010 and ending (Sample) October 31, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month is
2. The monthly base rental due hereunder shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same Rent as set forth in Section 12 hereof. Lessee shall have no right to withhold1, deduct is due on or offset any before the first (1st) of each month beginning (Sample) November 1, 2010, the amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installmentRent is subject to change pursuant to the provisions of Section 9 of this Lease.
3. A Forty-Dollar ($40) late charge, plus a twenty-dollar ($20) processing cost, will be assessed if Rent is not received by the fifth (5th) day of the month. The term “rent” as used hereinlate charge shall be due and payable fourteen (14) days after BHA gives notice of such charge.
4. Tenant acknowledges that this provision for payment of a late charge does not establish a grace period and that BHA may serve a notice to pay rent or quit the premises at any time after the payment of Rent is due.
5. Tenant shall pay Rent to BHA by mailing checks (personal or cashiers) or money orders, unless otherwise specifiedpayable to Berkeley Housing Authority, shall refer collectively to: Berkeley Housing Authority, ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇. BHA may change the place for payment of Rent by written notice to the monthly base ▇▇▇▇▇▇.
6. If Tenant pays rent and late more than two (2) times in any twelve (12)- month period, BHA may, in addition to any other sums required to be paid by Lessee to Lessor hereunderremedies under this Lease and at law, require that Tenant participate in a direct payment program.
7. Rent Tenant shall be paid without deductionliable for Rent for thirty (30) days after giving written notice of intent to vacate to BHA or until Tenant and all other Household Members have vacated the Unit, offsetor in the absence of written notice, prior notice or demandfor thirty (30) days after ▇▇▇ learns that Tenant and all Household Members have vacated the Unit. If the end of this thirty (30)-day period does not coincide with the end of a month, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or under this provision shall be prorated at a waiver of any of daily rate.
8. If Tenant is transferring from one BHA dwelling unit to another, all charges due under the remedies available to Lessor by reason of Lessee’s continuing default hereunderprevious Lease are due under this Lease.
Appears in 1 contract
Sources: Tenant Lease
Rent. 4.1 MONTHLY BASE RENT. The Subtenant does hereby agree, without notice, deduction or offset, to pay to Tenant, as the monthly rent for the Subleased Premises (“Rent”), the following Schedule shall applyamounts for the term of the Sublease: • July 1, 2008 – June 1st 2011 to December 31st30, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of 2009: $14,964.00 each month during July 1, 2009 – June 30, 2010: $15,562.56 each month July 1, 2010 – July 31, 2010: $16,185.06 each month Rent includes all Operating Expenses and Taxes contemplated under the Term at Master Lease and Tenant hereby acknowledges and agrees that Subtenant shall not be responsible for any other costs not specifically and expressly provided for herein, including but not limited to costs or charges for Building or common area maintenance, utilities or taxes. However, except as otherwise expressly provided in this Sublease, Subtenant shall pay any other additional costs or expenses incurred under the address stated herein Master Lease related to the Sublease Premises or Subtenant’s occupancy thereof (including, without limitation, the cost of all overtime HVAC, energy and other services costs provided to Subtenant and/or the Sublease Premises and not included in Operating Expenses or Taxes). Unless such costs and expenses can be paid directly to Master Landlord, Subtenant shall reimburse Tenant for such other persons or at such amounts within ten (10) business days of receipt of an invoice (attaching the charges of the Master Landlord) from Tenant therefor. For the purposes of this Sublease and all of Subtenant’s obligations hereunder, Rent and any other places as Lessor may designate in writing and sums due to Tenant from Subtenant under this Sublease shall together constitute “Rent.” All payments of Rent due under this Sublease shall be paid in lawful money of advance at least three (3) business days prior to when the United States of America. All rent shall be corresponding payments are due and payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to under the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the LessorMaster Lease. Said payment shall be in addition made to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure Tenant, and shall govern whether or not be mailed to the actual gross rentable square footage address of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental Tenant or any other sum due hereunder even if address which Tenant may in writing designate. The first month’s rent payment in the actual gross rentable square footage amount of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month $14,964.00 shall be a pro rata portion due and payable by Subtenant to Tenant upon Subtenant’s execution of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderthis Sublease.
Appears in 1 contract
Sources: Sublease Agreement (K12 Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule (a) Tenant shall apply: • June 1st 2011 pay rent to December 31stLandlord for the Subleased Premises (I) from the Sublease Commencement Date until July 31, 2011 $ 6,000 per month • January 1st 2012 to December 31st1998 at the annual rate of Fifty Thousand Seven Hundred Thirty Six and 00/100 Dollars ($50,736.00), 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The payable in advance In equal monthly base rental due hereunder shall be payable to Lessor by installments of Four Thousand Two Hundred Twenty Eight and 00/100 Dollars ($4,228.00) on the first day of each calendar month during the Term term of this Sublease, and (ii) from August 1, 1998 until the Expiration Date, at the address stated herein annual rate of Fifty Six Thousand Eight Hundred Thirty Two and 00/1 00 Dollars ($56,832.00), payable in advance in equal monthly installments of Four Thousand Seven Hundred Thirty Six and 00/100 Dollars ($4,736.00) on the first day of each calendar month during the term of this Sublease, except that (i) rent for any portion of a calendar month at the beginning or to such other persons or at such other places as Lessor may designate in writing and end of the term shall be apportioned,. and paid in lawful money on the date of commencement of the United States term, or the first day of Americathe calendar month in which the term expires, as the case may be, and (ii) Tenant shall pay upon execution and delivery of this Sublease, the first full installment of rent payable hereunder, to be applied against the first payments of rent due hereunder. Such rent shall be in addition to all other sums payable hereunder, which other sums shall constitute additional rent. All rent shall be payable to Lessor’s bank account by regular electronic depositpaid at the office of Landlord or such other place as Landlord may designate, without any prior demand or notice and without therefor, or any setoff or deduction or set off for counterclaim. The Lessee further agrees to whatsoever.
(b) Tenant shall additionally pay Lessor, in addition additional rent to the rent as provided hereinLandlord for the Subleased Premises in' a monthly amount equal to all charges pursuant to the Main Lease for real estate taxes, all privilege, sales, excise, rental operating expenses and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other items of additional rent. Such amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deductionnot later than ten (10) days after demand therefor.
(c) Notwithstanding the foregoing, offsetprovided that Tenant is not then in default, prior beyond applicable notice or demandand grace periods, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available terms, conditions or covenants of this Sublease, Landlord hereby waives the right to Lessor by reason collect the amount of Lessee’s continuing default Two Thousand One Hundred Fourteen and 001100 Dollars ($2,114.00) out of the first full monthly payment of rent payable pursuant to Article 3(a).
(d) Tenant shall pay all commercial rent or occupancy taxes imposed in connection with this Sublease or the payment of rent or additional rent hereunder.
Appears in 1 contract
Sources: Sublease Assignment and Assumption Agreement (Rosetta Inpharmatics Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule 2.1 During the lease Tenant shall applypay and Owner shall accept a rental as follows: • June 1st 2011 to December 31stRental Period Rent ------------------------------------ ----------------- October 1, 2011 2002 - September 31, 2003 $ 6,000 8,334 per month • January 1st 2012 to December 31stOctober 1, 2012 2003 - September 31, 2004 $ 9,000 9,167 per month • January 1st 2013 to December 31stOctober 1, 2013 $ 10,500 per month • January 1st 2014 to December 31st2004 - September 31, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 2005 $10,000 per month The monthly base rental for each month beginning on October 1, 2005, and the rental for any extended term if the term of this lease is extended beyond the original term, shall be Ten Thousand Dollars ($10,000) per month or, if greater, the amount determined by multiplying the rental for each month of the prior year by a fraction, the numerator of which is the Consumers Price Index United States - All Items, for January of the fourth and fifth year or each year of the extended term, and the denominator of which is such index figure on the same base, for January of 2005, provided that such fraction shall never be less than one (1).
2.2 In addition to these rental payments, Tenant shall pay when due, as additional rent, all other amounts to be paid by Tenant under this lease.
2.3 It is the intention of Owner and Tenant that the rent paid under this lease shall be net to Owner and that each year during the term of the lease all costs, expenses and obligations of every kind relating to the premises (except as otherwise specifically provided in this lease) which may arise or become due hereunder during the term of this lease shall be paid by Tenant, and that Owner shall be indemnified by Tenant against such costs, expenses and obligations.
2.4 All payments of rent shall be made by Tenant to Owner without notice or demand, at such place within the United States as Owner may from time to time designate in writing. For the present Owner designates Owner's address stated in or pursuant to the Notices provisions of this lease as the place for making the payments of rent. All rents shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money legal tender of the United States as the same is then constituted.
2.5 A late fee will accrue at the rate of Americatwelve percent (12%) per annum on all delinquent rent and other amounts due from Tenant. All rent Such late fee shall be immediately due and payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the as additional rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in under this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderlease.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENTSection 1. The following Schedule Tenant shall apply: • June 1st 2011 pay to December 31stthe Landlord as BASIC ANNUAL RENT for the Leased Premises for each year of the period of February 1, 2011 $ 6,000 per month • 1996 through January 1st 2012 to December 31st31, 2012 $ 9,000 per month • January 1st 2013 to December 31st2001, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder the sum of Three Hundred Forty-One Thousand One Hundred Twenty Dollars ($341,120.00) which shall be paid in equal monthly installments of Twenty-Eight Thousand Four Hundred Twenty-Six Dollars and 66/100ths Dollars ($28,426.66), due and payable to Lessor by on the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate month, in writing and advance. Said rent shall be paid in lawful money to the Landlord, or to the duly authorized agent of the United States Landlord, at its office at 3800 ▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇. ▇▇ecks should be made payable to WILMINGTON COMMERCE PARK PARTNERSHIP. Any Basic Annual Rent payment not received by the Landlord by the tenth day of America. All rent the month shall be payable to Lessor’s bank account by regular electronic depositpast due. If the commencement date of this Lease is other than the first day of the month, without prior demand any rental adjustment or notice and without deduction or set off additional rents hereinafter provided for counterclaimshall be prorated accordingly. The Lessee further agrees to Tenant will pay Lessor, in addition to the rent as provided hereinherein provided, all privilegewithout deduction whatsoever, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by without any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage obligation of the Premises is the same as set forth in Section 12 hereofLandlord to make demand for it. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or Any installment of rent accruing hereunder and any other sum payable hereunder, if not paid within ten days of when due, shall bear interest at the rate of eighteen percent (18%) per annum until paid. Late Fee. Provided, however, that Tenant shall be entitled to two (2) written notices from Landlord in a given Lease Year that such rent, additional rent or other charge is due hereunder even if the actual gross rentable square footage and payable within five (5) days of the Premises is less than that set forth in Section 12Tenant's receipt of such notice before a service charge will be assessed. Rent for any period After four (4) such notices have been given to Tenant during the Term which is for less than one month term of this Lease then no further notices shall be a pro rata portion of the monthly installmentgiven and Tenant shall pay any service charges as otherwise provided herein. The Basic Annual Rent of $341,120.00 shall be adjusted annually based on the Consumer Price Index beginning February 1, 1997, the adjustment date which shall commence in the second year of lease and each year thereafter, whether during the term “rent” as used herein, unless otherwise specified, shall refer collectively to of this Lease or any renewal or extension thereof. Increases in the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Basic Annual Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is made in accordance with the following procedure:
a. The index to be used for less than the entire amount then currently due hereunder this adjustment shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.Consumer Price Index
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 a. Rent in the amount of $12,000.00, subject to December 31stannual increases as set forth below, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by annually throughout the first initial term and each renewal term of this Lease.
i) Annual rent shall be paid, on the same day of the year as the Commencement Date, each month during year, in advance, to the Term at the address stated herein Village of Menomonee Falls, or to such other persons person, firm, or at such other places place as Lessor may the Village may, from time to time, designate in writing at least thirty days in advance of any rental payment due.
ii) The annual rent shall be increased each year by four percent (4%).
iii) Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such event, VILLAGE agrees to provide to LESSEE bank routing information for such purpose upon request of LESSEE.
b. Except as otherwise provided elsewhere in this Agreement, if this Lease is terminated at a time other than on the last day of a lease year, rent shall be prorated as of the date of termination, and, in the event of termination for any reason other than nonpayment of rent, all prepaid rents shall be refunded to Tenant.
c. All consideration to be provided by LESSEE to VILLAGE shall be paid or provided to VILLAGE without offset. VILLAGE shall not be required to make any expenditure of any kind in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand connection with this Lease or notice and without deduction make any repairs or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition improvements to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata leased portion of the monthly installmentProperty except as otherwise provided in this Lease. The term “rent” as used herein, unless otherwise specified, rent paid under this Agreement is reserved on an absolute net basis. LESSEE shall refer collectively pay to the monthly base rent persons entitled thereto all taxes, assessments, insurance premiums, maintenance charges and any other sums required charges, costs and expenses against the leased portion of the Property contemplated under any provision of this Lease. LESSEE shall have the right, at its sole option and at its sole cost and expense, to be paid by Lessee to Lessor hereunder. Rent shall be paid without deductionappeal, offset, prior notice challenge or demand, and Lessor’s acceptance seek modification of any rent payment that tax assessment or billing for which LESSEE is wholly or partly responsible for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderpayment.
Appears in 1 contract
Sources: Land Lease Agreement
Rent. 4.1 MONTHLY BASE RENTSublessee covenants and agrees to pay to Sublessor during the Sublease Term, without any right of offset or counterclaim, fixed triple net base rent in the amount of One Hundred Ninety-three Thousand Three Hundred Ninety-two and No1100 Dollars ($193,392.00) per annum, payable in equal monthly installments of Sixteen Thousand One Hundred Sixteen and No/100 Dollars ($16,116.00) each for the Subleased Premises; provided, however, that no rent shall be due for the first thirty (30) days of the Sublease Term (the “Free Rent Period”). The day after the end of the Free Rent Period is referred to herein as the “Rent Commencement Date”, The first installment of rent for the period following Schedule shall apply: • June 1st 2011 to December 31stthe Rent Commencement Date, 2011 $ 6,000 per month • January 1st 2012 to December 31stin the amount of $16,116.00, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be delivered to Sublessor upon Sublessee’s execution of this Sublease, with subsequent payments of rent being due and payable to Lessor by without notice or demand on or before the first day of each calendar month during throughout the Sublease Term. Rent for the first month of the Sublease Term at following the address stated herein or end of the Free Rent Period shall be prorated to the extent that the Sublease Term does not begin on the first day of a calendar month. For example, upon execution of this Sublease, Sublessee shall pay first installment of rent for the period following the Rent Commencement Date, in the amount of $16,116.00. If the Commencement Date were to be March 15, 2016, then the Rent Commencement Date would be April 14, 2016, A portion of the initial rent payment of $16,116.00 would be applied to the period from April 14 through April 30, the balance would be credited to the rent due in May, and Sublessee would pay on May 1, 2015, the balance due for the month of May. All such other persons or at such other places as Lessor may designate in writing and payments shall be paid to Sublessor in lawful money of the United States of AmericaAmerica at the address of Sublessor shown herein or to such other party or at such other place as Sublessor may designate from time to time in a written notice to Sublessee. All In addition to the base rent shall be payable to Lessor’s bank account by regular electronic depositprovided for above, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further Sublessee agrees to pay Lessorto Sublessor additional rental in an amount equal to all additional rental, in addition to payable by Sublessor under the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon Lease for the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderLeased Premises.
Appears in 1 contract
Sources: Sublease Agreement (Celladon Corp)
Rent. 4.1 MONTHLY BASE RENT(a) Commencing on the Commencement Date and continuing throughout the term of this Sublease, Sublessee shall pay to Sublessor monthly Basic Rent (the "Basic Rent") in the following amounts: Period Amount ------ ------ Month 01-03 $17,250.00 Month 04-12 $40,200.00 Month 13-24 $36,000.00 Month 25-34 $37,500.00
(b) In addition to Basic Rent, Sublessee shall pay to Sublessor thirty nine percent (39%) of all amounts due from Sublessor to Prime Landlord pursuant to the Prime Lease, excepting Base Monthly Rent (the "Additional Rent"). The following Schedule Such Basic Rent and Additional Rent shall apply: • June 1st 2011 be referred to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder herein as "Rent."
(c) Rent shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid Sublessor in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositStates, in advance, without prior demand notice, demand, or notice and without deduction offset, on or set off for counterclaimbefore the first day of each calendar month during the term hereof. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to All Rent shall be paid by to Sublessor at the Lessee address specified for notice to Sublessor in Section 16, below. If the Lessor. Said payment Commencement Date does not fall on the first day of a calendar month, Rent for the first month shall be prorated on a daily basis based upon a thirty day calendar month.
(d) Upon execution of this Sublease, Sublessee shall pay to Sublessor the sum of Seventeen Thousand Two Hundred Fifty and 00/100 Dollars ($17,250.00), constituting payment in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage advance of the Premises is first month's Rent, together with the same Security Deposit, as set forth in Section 12 hereof. Lessee 5 below.
(e) In the event of any casualty or condemnation affecting the Premises, Rent payable by Sublessee shall have no be abated hereunder, but only to the extent that Rent under the Prime Lease is abated, and Sublessee waives any right to withhold, deduct terminate the Sublease in connection with such casualty or offset any amount from condemnation except to the base monthly rental extent the Prime Lease is also terminated as to the Premises or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderthereof.
Appears in 1 contract
Sources: Sublease (Alteon Websystems Inc)
Rent. 4.1 MONTHLY BASE RENTDuring the initial year of this Lease, Tenant shall pay to Landlord, as annual rent, payable in equal monthly installments as follows: First Year Annual Rent Monthly Installment 12/29/12 – 12/31/13 $ 1,504,800.00 $ 125,400.00 The annual rent payable under this Lease shall increase (but in no event decrease) at the beginning of each subsequent year to an amount equal to the product obtained by multiplying the annual rent payable for the immediately preceding year by a fraction, the numerator of which shall be the Price Index (as defined in the next paragraph) in effect ninety (90) days prior to the date of such increase and the denominator of which shall be the numerator utilized in the previous increase; except that in the case of the first increase, the denominator shall be the Price Index in effect ninety (90) days prior to the Commencement Date. The following Schedule shall apply: • June 1st 2011 to December 31st“Price Index” is the Consumer Price Index, 2011 $ 6,000 per month • January 1st 2012 to December 31stAll Urban Consumers (CPI-U), 2012 $ 9,000 per month • January 1st 2013 to December 31stU.S. City Average – All Items published by the Bureau of Labor Statistics of the United States Department of Labor. If the Price Index (or successor index) is not available, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder a reliable governmental or other non-partisan publication evaluating the information theretofore used in determining the Price Index shall be payable used. Tenant agrees to Lessor by pay the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid annual rent in lawful money of the United States of America, in equal monthly installments set forth above in advance on the first day of each calendar month during said term, at the address of Landlord or such other place as Landlord may designate, without any set-off or deduction whatsoever. All sums other than annual rent payable by Tenant hereunder shall be deemed additional rent (the default in the payment of which Landlord shall have the same remedies as for default in the payment of annual rent), and shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used hereinon demand, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderdates are herein provided.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENTFrom and after the Commencement Date, and continuing throughout the remainder of the Term of this Sublease, Subtenant shall pay to Sublandlord Annual Base Rent (sometimes hereinafter referred to as “Rent”) for the Subleased Premises in the amount of Four Hundred Thousand Five Hundred and 00/100 ($400,500.00) Dollars in equal consecutive monthly installments of Thirty Three Thousand Three Hundred Seventy Five and 00/100 ($33,375.00) Dollars. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The aforesaid amounts of monthly base rental due hereunder installments of Annual Base Rent shall be payable to Lessor by in advance on or before the first day of each calendar month during through the Term remainder of the Term, without set-off, deduction, counterclaim or any previous demand therefor provided, however, a proportionately lesser sum may be paid for the month in which occurs the Commencement Date or the Expiration Date in the event the Commencement Date occurs on other than the first date of the month. The Annual Base Rent, and any Additional Rent as hereinafter provided, shall be payable at the office of the Sublandlord at the address stated herein set forth above, or as may otherwise be directed by notice from Sublandlord to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money Subtenant. Sublandlord acknowledges receipt from Subtenant of the United States sum of America. All rent shall be payable Thirty Three Thousand Three Hundred Seventy Five and 00/100 ($33,375.00) Dollars by check, subject to Lessor’s bank account by regular electronic depositcollection, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to Annual Base Rent for the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage first month of the Premises Term. Provided Subtenant is the same as set forth not in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth monetary default in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available terms, covenants or provisions of this Lease beyond any applicable notice or cure period, and notwithstanding anything contained herein to Lessor the contrary, Subtenant shall be entitled to a monthly abatement in the amount of Thirty Three Thousand Three Hundred Seventy Five and 00/100 ($33,375.00) Dollars, said concession to be applied against the monthly payment of Annual Base Rent due pursuant to this Lease for the second (2nd) full calendar month of the term of this Sublease (the "Concession Period"). The entire fixed rent otherwise due and payable irrespective of the concession shall become immediately due and payable to the Landlord upon the occurrence of a default by reason Subtenant in any of LesseeSubtenant’s continuing obligations under this Sublease, which default hereundercontinues beyond any applicable notice or cure period, and Subtenant's entitlement to any prospective concession existing at such time, if any, shall be automatically withdrawn and terminated.
Appears in 1 contract
Sources: Sublease Agreement (Pdi Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 Tenant covenants and agrees to December 31stpay to Landlord, 2011 $ 6,000 per month • January 1st 2012 to December 31stas rental for the Leased Premises, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly a base rental due hereunder shall in the amount of ONE HUNDRED FIFTEEN THOUSAND FOUR HUNDRED TWENTY FIVE DOLLARS ($115,425.00) per annum, plus a public factor charge equal to twelve percent (12%) of the base rental, the total sum of the base rental and the public factor charge to be ONE HUNDRED TWENTY NINE THOUSAND TWO HUNDRED SEVENTY SIX DOLLARS ($129,276.00) per annum (hereinafter the "Base Rent") payable to Lessor by in twelve (12) equal monthly installments in advance on the first day of each full calendar month during the term of this Lease Agreement, the first such payment to include any prorated rental for the period from the date of the commencement of the Lease Term at to the address stated herein first day of the first full calendar month thereof. Base Rent and additional rent to be paid under this Section or to such any other persons or at such other places as Lessor may designate in writing and Section of this Lease shall be paid in lawful money by Tenant without any deductions or set-offs whatsoever and without demand. The Tenant shall, on the signing and execution of this Agreement, pay to Landlord, the sum of TWENTY ONE THOUSAND FIVE HUNDRED FORTY SIX DOLLARS ($21,546.00) to be applied by the Landlord to the payment of rent for the Leased Premises for the first and last months of the United States term of Americathis Lease. All rent It is agreed between the respective parties hereto that this payment shall be payable to Lessor’s bank account by regular electronic depositconstitute an advance rental, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition that the Landlord shall have the unrestricted right to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon use of the rentals and all other amounts funds herein provided to be paid. Rent payable under this Section 3 shall be increased annually commencing with the second year and each successive year thereafter during the term of this Lease by an amount equal to four percent (4%) of the amount of rent paid by Tenant during the Lessee year preceding each annual increase. All rentals payable by Tenant to the Lessor. Said payment Landlord under this Agreement shall be in addition paid to Landlord at the office of Landlord herein designated by it for notices. Tenant will promptly pay all rentals herein prescribed when and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is as the same as set forth shall become due and payable, without notice, demand, abatement, deduction or set-off. Tenant shall pay a "late charge" not in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset excess of eight percent (8%) of any amount from the base monthly installment of rental (or any other sum charge or payment as may be considered additional rental under this Lease) when paid more than five (5) days after the due hereunder even if date thereof, to cover the actual gross rentable square footage extra expense involved in handling delinquent payments. In addition to the eight percent (8%), Tenant agrees to pay reasonable attorney fees, court costs or other costs incurred by Landlord as a result of the Premises is less than that Tenant's delinquent payment of rent. If Landlord after ten (10) days written notice to Tenant,shall pay any monies, or incur any expenses in correction of violation of covenants herein set forth forth, the amount so paid or incurred shall, at Landlord's Initials: [ /s/ ] [ /s/ ] Landlord Tenant option, and on written notice to Tenant, be considered additional rental payable by Tenant with the first installment of rental thereafter becoming due and payable, and may be collected or enforced as by law provided in Section 12the respective rentals. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent All additional costs and any other sums monies required to be paid by Lessee Tenant to Lessor hereunder. Rent shall be paid without deductionLandlord under the terms of this Lease, offset, prior notice or demand, are interpreted and Lessor’s acceptance understood to constitute additional rent for purposes of any rent payment that is for less than this Lease Agreement under the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor provisions of the balance Real Property Article of the rent due or a waiver Annotated Code of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderMaryland.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 A. Except as otherwise provided in Exhibit B, the Premises will be deemed to December 31stcontain the floor area set forth in Basic Term (2) for all purposes hereunder and will not be subject to remeasurement except as otherwise provided for elsewhere in this Lease.
B. Tenant shall, 2011 $ 6,000 per month • January 1st 2012 without notice, demand, abatement, deduction or setoff, pay to December 31stLandlord, 2012 $ 9,000 per month • January 1st 2013 to December 31stthe Base Rent in advance in equal monthly installments in the monthly amount set forth in the Basic Terms, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by commencing upon the Rent Commencement Date and on the first day of each and every succeeding calendar month during the Term. However, if the Term at commences other than on the address stated herein or to first day of a calendar month, then, upon the Rent Commencement Date, the Base Rent for such other persons or at such other places as Lessor may designate in writing and initial month shall be paid in lawful money prorated on a daily basis.
C. Base Rent shall increase annually starting on the 65th month of the United States lease term. Each subsequent increase will occur on each succeeding anniversary of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaimsuch first adjustment date. The Lessee further dates of the first and each subsequent adjustment are “Adjustment Dates”. The amount of each increase will be equal to 3% over the prior year.
D. All amounts ▇▇▇▇▇▇ agrees to pay Lessorhereunder other than Base Rent shall be deemed “additional rent”. Additional rent and Base Rent are referred to herein collectively as “rent”.
E. If applicable, Tenant shall, in addition to the rent as provided hereinother amounts payable hereunder, all privilegepay any rental, sales, excise, rental use and other similar taxes (except income taxes) imposed now or hereinafter imposed based on the amounts payable hereunder by any municipal, county, district, state, federal or other governmental authority upon (including any executive, legislative, judicial, administrative and regulatory bodies of each such authority) (each, an “Authority” and collectively, the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor“Authorities”). Said Any such payment shall be in addition to and accompanying each monthly rental paid concurrently with the payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises amount upon which such tax is the same as set forth in Section 12 hereofbased.
F. Any amount not paid within 10 days after it is due shall be subject to a late charge of $25.00 per month. Lessee shall have no right to withholdIn addition, deduct or offset any amount not paid within 30 days after it is due shall be subject to default interest at a per annum rate of 15% or, if lower, the highest rate allowed by law, calculated and, if permitted by applicable law, compounded monthly based on the then-outstanding balance owed. Payment of interest and late charges shall not relieve Tenant from any default. Tenant acknowledges that it has above been given grace periods and that interest and late charges will apply to any amounts not paid within such grace periods.
G. No payment of a lesser amount than the base monthly rental full amount due under this Lease shall be considered anything other than a payment on account of the earliest amount due. No endorsement or statement on any check or any correspondence accompanying any payment may be deemed an accord and satisfaction. Landlord may accept such payment without prejudice to its rights to recover the balance due and to pursue any other sum due hereunder even if the actual gross rentable square footage remedy. Pursuant to § 3-311 of the Premises is less than that set forth in Section 12. Rent for State’s Uniform Commercial Code, any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required instrument purporting to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction must be sent to Landlord’s address for notices (and not the address for payments).
H. The Parties agree the rent amounts are the product of bona fide, arms-length negotiations and represent commercially reasonable, fair market rent for the Premises for general commercial purposes, without taking into account the intended use or a waiver by Lessor the volume or value of any actual or expected “federal health care program” (as defined under 42 U.S.C. § 1320a-7b (f), “Federal Program”) or other referrals to, or business otherwise generated for, either Party. The rents do not reflect any additional value either Party may attribute to the proximity or convenience of the balance of the rent due Premises to referral sources or a waiver of business otherwise generated for which payment may be made in whole or in part under any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderFederal Program.
Appears in 1 contract
Sources: Lease Agreement
Rent. 4.1 MONTHLY BASE RENT. The following Schedule A. As consideration for the rights conferred upon LESSEE by LESSOR pursuant to this LEASE, LESSEE shall apply: • June 1st 2011 pay, in advance, to December 31stLESSOR a quarterly rental in the amount of * * (“Rent” representing twenty-five percent (25%) of Fifty and No/100 Dollars ($50.00) per acre multiplied by * * acres [*NOTE – ACTUAL ACREAGE OF PREMISES FROM THE FINAL APPROVED SURVEYS SHALL BE INSERTED AT CLOSING*], 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder which shall be payable to Lessor by (i) on the Commencement Date on a pro-rated based on the number of days for the period beginning on the Commencement Date through and including the last day of the calendar quarter in which the Commencement Date falls and (ii) on the first day of each month calendar quarter (i.e. January 1st, April 1st, July 1st, and October 1st) thereafter, through and including the first day of thereafter through and including the final calendar quarter of the sixth year of the Lease Term (with the understanding that Rent shall not be payable during the last twelve (12) months of the Lease Term, i.e., July 1, 2015 to June 30, 2016), together with all applicable sales and use taxes. In addition, LESSEE shall be responsible for payment of any and all Additional Rent (as defined in Paragraph 5.C. below) throughout the Lease Term as and when due under the terms of this LEASE.
B. All payments of Rent, as well as all other amounts due under this LEASE from LESSEE to LESSOR shall be made to LESSOR at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and following address: South Florida Water Management District Attention: Post Office Box 24680 ▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ RE: Contract #
C. This LEASE shall be totally and absolutely net to LESSOR. In addition to the Rent and Additional Rent stated above, LESSEE shall pay all charges for gas, water, sewer, waste removal, dumpster charges, janitorial services, electricity, telephone, and other utility services used by LESSEE in connection with the Premises during the Lease Term and any and all other costs, expenses, taxes or obligations of every kind related to the Premises and the use, operation, occupancy thereof during the Lease Term, including obligations arising under recorded or unrecorded documents encumbering or relating to the Premises, if any (to the extent such recorded or unrecorded documents exist on the day immediately preceding the Commencement Date). Without limiting the foregoing, if any charges, costs, expenses, taxes or other monetary obligations of LESSEE under this LEASE are not paid in lawful money by LESSEE as and when due, after expiration of all applicable grace and notice periods, LESSOR, without limiting any of its other rights and remedies under this LEASE, shall have the right, but not the obligation, to pay any of the United States foregoing, and the amount of America. All rent the expense or cost of any such obligations so paid by LESSOR shall be payable thereupon become due to LessorLESSOR from LESSEE within five (5) days following LESSOR’s bank account written demand, together with interest accruing on such amount at the highest rate allowed by regular electronic depositlaw if not paid to LESSOR within such five (5) day period, without prior demand as “Additional Rent”.
D. If any Rent due from LESSEE to LESSOR hereunder is not received by LESSOR on or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessorbefore the date due, then, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to rights and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason LESSOR under this LEASE, LESSOR at LESSOR's sole option may either: (i) charge LESSEE a late fee equal to five percent (5%) of Lessee’s continuing default hereunder.the installment of Rent not paid when due; or
Appears in 1 contract
Sources: Lease Agreement
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 8.1 Tenant covenants and agrees to December 31stpay to Lessor, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder as rent for the Premises the Fixed Rent as set forth in Section 2.7.
8.2 Fixed Rent shall be payable to Lessor by in equal monthly installments in advance on the first day of each full calendar month during the Term, the first such payment to include any prorated Fixed Rent for the period from the date of commencement of the Term to the first day of the first calendar month in the Term. The first such payment of the Fixed Rent shall be due and payable upon the Lease Commencement Date or Date of Occupancy, whichever occurs first.
8.3 A rental year shall consist of twelve (12) calendar months, beginning on the first day of the first full calendar month of the Term (“Rental Year”). The First Rental Year shall include the period from the date of commencement of the Term to the first day of the first full calendar month in the Term. Any portion of the Term remaining at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money end of the United States of America. All rent last full Rental Year shall be payable to Lessor’s bank account by regular electronic depositconstitute the final Rental Year, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment charges shall be in addition apportioned therefor.
8.4 It is understood and agreed that the basic consideration for this Lease is Tenant’s covenant to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not pay the actual gross rentable square footage total sum of the Premises is the same as Fixed Rent set forth in Section 12 hereof2.7 for the original Term, and other amounts payable by Tenant hereunder. Lessee shall have no right The reason that the rates of installments may differ is to withhold, deduct or offset any amount defer payment of some of the rent from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage early part of the Premises Term to the latter part for the convenience of the Tenant. Under these circumstances, it is less than not contemplated that any governmental rent control or freeze will excuse Tenant from paying any part of the rent as agreed.
8.5 All rent and other amounts payable by Tenant hereunder shall be paid to Lessor without demand or deduction at the Lessor’s Notice Address set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” 2.13 or such other place as used herein, unless otherwise specified, shall refer collectively Lessor from time to time may designate.
8.6 Anything in this Lease to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deductioncontrary not withstanding, offset, prior notice or demand, and at Lessor’s acceptance option, Tenant shall pay, as additional rent, a late charge in the amount of fifty dollars ($50.00) for any rent payment that is for less than not made within seven (7) days after the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of date thereof to cover the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderextra expense involved in handling delinquent payments.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder Rent shall be payable to Lessor by Landlord in care of: Wal-Mart Stores, Inc. ▇.▇. ▇▇▇ ▇▇▇▇▇▇ ▇▇. ▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
4.2 [OMITTED]
4.3 [OMITTED]
4.4 If this Lease should commence on a date other than the first day of a calendar year or terminate on a date other than the last day of a calendar year, Percentage Rental for such fractional part of the calendar year following the Commencement Date or preceding the Termination Date, as the case may be, shall be paid at the specified rate for all sales made during such fractional part of a calendar year, after deducting from such Percentage Rental all payments of Minimum Guaranteed Rental for such fractional period. Such Percentage Rental is to be paid in monthly installments as provided in Section 4.3 with respect to full calendar years.
4.5 [OMITTED]
4.6 In the event that the designation of a Percentage Rental rate in Section 1.1 (k) of this Lease includes a breakpoint of Gross Sales (e.g., "5% of Gross Sales over $100,000.00"), then (a) subsection (ii) in the first sentence of Section 4.3 of this Lease shall be deemed to have been deleted and all other formula references in Article IV adjusted accordingly; (b) the breakpoint shall be divided by twelve for purposes of computing monthly Percentage Rental installments in the second sentence of Section 4.3; and (c) during all periods when Minimum Guaranteed Rentals are reduced (e.g., pursuant to Section 15.4 or Section 16.2), the breakpoint shall be reduced proportionately.
4.7 It is understood that the Minimum Guaranteed Rental is payable on or before the first day of the month (in accordance with Section 4.2) and Percentage Rental, if any, is payable on or before, the tenth of each month calendar month, without offset or deduction of any nature. In the event any rental is not received by the due date, it is agreed that the amount thus due shall bear interest at the maximum contractual rate which could legally be charged in the event of a loan of such rental to Tenant in the state where the Demised Premises is located 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 Term period commencing with the aforesaid due date and terminating with the date on which Tenant makes full payment of all amounts owing to Landlord at the address stated herein or to time of said payment. Any such other persons or at such other places increase shall be payable as Lessor may designate in writing additional rent hereunder, shall not be considered as a deduction from Percentage Rental, and shall be paid payable immediately on demand.
4.8 If Tenant fails in lawful money of the United States of America. All rent shall be payable two (2) consecutive months to Lessor’s bank account make rental payments within ten (10) days after due, Landlord, in order to reduce its administrative costs, may require by regular electronic deposit, without prior demand or giving written notice to Tenant (and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent any interest accruing pursuant to Section 4.6 above, as provided hereinwell as any other rights and remedies accruing pursuant to Article XIX or Article XX, all privilegeor any other term, salesprovision or covenant of this Lease), excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided 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 Lessee to the Lessordelivery of Tenant's personal or corporate check will no longer constitute a payment of rental as .provided in this Lease . Said payment shall be in addition to and accompanying each Any acceptance of a monthly rental payment made or of a personal or corporate check thereafter by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and Landlord shall govern whether or not the actual gross rentable square footage be construed as a. subsequent waiver of said rights.
4.9 Tenant hereby acknowledges that Tenant ' s business reputation, intended use of the Demised Premises, potential for payment of Percentage Rent and ability to generate patronage to the Demised Premises is and the same Shopping Center Were all relied upon by Landlord and served as significant and material inducements contributing to Landlord's decision to execute this Lease with Tenant. Tenant hereby covenants and agrees: (i) to operate in the Demised Premises only under the trade name set forth in Section 12 hereof. Lessee shall have 1.1 (e) and under no right other name or trade name whatsoever without Landlord's prior written consent, (ii) to withholdcontinuously use, deduct or offset any amount from occupy and operate the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage whole of the Demised Premises is less than that for the retail sale of its goods or services in accordance with its permitted use set forth in Section 121.1 (p),. Rent for any period during the Term hours in which the Shopping Center is open for less than one month shall business as designated by Landlord, and for no other purpose whatsoever, and (iii) not to own, operate or be financially interested in, either directly or indirectly (by itself or with others), a pro rata portion business like or similar to the business permitted to be conducted hereunder, or which employs the same or similar trade name, within a radius of three (3) miles of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor perimeter of the balance Shopping Center, except for those which Tenant has in operation as of the rent due or a waiver of any date hereof. Without limiting Landlord's other available remedies, in the event Tenant should violate this (iii) covenant, Landlord may, at its option, (a) terminate this Lease upon thirty (30) days' written notice to Tenant, (b) enjoin the operation of the remedies available to Lessor violative store, or(c) include all Gross Sales generated by reason of Lessee’s continuing default hereunderany violative store as Gross Sales in calculating the Percentage Rent due under this Lease.
Appears in 1 contract
Sources: Lease Agreement (Etravnet Com Inc)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule shall apply: • June 1st 2011 to December 31st(A) Throughout the term, 2011 $ 6,000 per month • January 1st 2012 to December 31stbeginning on the Commencement Date, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The Tenant will pay Landlord a monthly base rental due hereunder shall rent ("Monthly Base Rent") in the amount set out in subsection (B) below, which Monthly Base Rent will be payable to Lessor by in advance, on the first day of each calendar month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositterm hereof, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance to Landlord or its agent at K▇▇▇ & H▇▇▇▇▇ Commercial Real Estate, Inc. P.▇. ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ , or to such other party or at such other address as Landlord may designate in writing. If the term of this Lease should commence on any rent payment that is for less day other than the entire amount then currently due hereunder first day of a calendar month or should end on any day other than the last day of a calendar month, the Monthly Base Rent for such fractional month shall be only prorated in the proportion that the number of days this Lease was in effect during such month bears to thirty (30).
(B) During the Initial Term, the Monthly Base Rent will be equal to the following: Months 1-6 $Zero monthly, Months 7-12 $2,500.00 monthly, Months 13-24 $3,300.00 monthly and Months 25-60 $5,000.00 monthly (the "Initial Term Base Rent"). During the first Renewal Term, the Monthly Base Rent will be equal to $5,500.00 monthly. During the second Renewal Term, the Monthly Base Rent will be equal to $6,050.00 Monthly.
(C) In addition to the Monthly Base Rent, Tenant will pay to Landlord as an acceptance on account additional rent ("Additional Rent"), at the address provided for the payment of Monthly Base Rent, any other amounts whatsoever that Tenant assumes or agrees to pay, or that become due by Tenant to Landlord hereunder. The term, "rent" or "Rent" as used in this Lease, shall mean Monthly Base Rent and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderAdditional Rent, collectively.
Appears in 1 contract
Sources: Lease Agreement (GolfSuites 1, Inc.)
Rent. 4.1 MONTHLY BASE RENT. The During the Term, Tenant shall pay to Landlord base rent (the “Base Rent”) in the following Schedule shall applyamounts: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder Period Base Rent 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 payable to Lessor by 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. 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 commence on the Commencement Date. If the Commencement Date is other than the first day of a month or the Term at ends other than on the address stated herein or last day of the month, the Rent for such month shall be prorated on the basis of the actual number of days in such month. Rent payable to such other persons or at such other places as Lessor may designate in writing and Landlord shall be paid in lawful money to Landlord at c/o CGM ▇▇▇▇▇, L.L.C., ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇. It is the intention of the United States of America. All rent parties hereto that, except for those expenses for which Landlord is expressly responsible under this Lease, Landlord shall have no obligation to pay any expenses whatsoever with regard to the Premises during the Term, as it may be extended, and that all such expenses shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaimhereby are the sole responsibility and obligation of Tenant. The Lessee further agrees to pay Lessor, in addition to the rent Except as expressly provided herein, all privilegeno abatement, sales, excise, rental and diminution or reduction of the Rent or other taxes (except income taxes) imposed now or hereinafter imposed charges payable by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment Tenant under this Lease shall be in addition claimed by or allowed to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderTenant.
Appears in 1 contract
Sources: Lease Agreement
Rent. 4.1 MONTHLY BASE RENT. The following Schedule Commencing on the Commencement Date, Lessee shall apply: • June 1st 2011 pay to December 31st, 2011 $ 6,000 Lessor rent for the Premises of One Hundred Four Thousand and 00/100 Dollars ($104,000.00) per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money of the United States of America, subject to adjustment as provided in Section A of this Paragraph. All rent Rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and paid without deduction or set off for counterclaim. The Lessee further agrees offset, prior notice, or demand, at such place as may be designated from time to pay Lessor, in addition to the rent time by Lessor as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to follows: $104,000.00 shall be paid by upon execution of the Lessee to Lease, which sum represents the Lessoramount of the first month's rent. Said payment Rent shall be paid in addition to and accompanying advance on the first (1st) day of each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same calendar month as set forth in Section follows: Months Monthly Rent/NNN ------ ---------------- 01-12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. $104,000.00 EXHIBIT A 18 13-24 $107,120.00 25-36 $110,334.00 37-48 $113,644.00 49-60 $117,053.00 Rent for any period during the Term term hereof which is for less than one (1) full month shall be a pro rata prorate portion of the monthly installmentrent payment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid 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 five (5) days following the date it is due and payable, Lessee shall pay to Lessor an additional sum of five percent (5%) 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 respect to the overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor.
A. Cost-of-Living Increase. Not applicable.
B. All taxes, insurance premiums, late charges, costs and expenses which Lessee is required to pay hereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all reasonable damages, costs, and attorney's fees and expenses which Lessor may incur by reason of any default of Lessee or failure on Lessee's part to comply with the terms of this Lease, shall be deemed to be additional rent (hereinafter, "Additional Rent"), and, in the event of non-payment by Lessee, Lessor shall have all of the rights and remedies with respect thereto as Lessor has for the non-payment of monthly installment of rent. Notwithstanding anything in this Paragraph 3.B. or elsewhere in the Lease to the contrary: from and after the commencement date, lessee shall pay to Lessor on the first day of each calendar month of the lease term an amount estimated by Lessor to be 1/12th of the annual total of Additional Rent as defined herein. Additional Rent shall include reimbursement for all out-of-pocket expenses as defined in Paragraph 10 of this Lease, except that property taxes and property insurance premiums shall be paid without deduction, offset, prior notice or demandinvoiced separately to Lessee as billed by the taxing authority and insurance carrier, and Lessor’s acceptance Lessee shall be obligated to pay said property taxes and insurance premiums in accordance with Paragraphs 8 and 9, respectively. Within ninety (90) days following the end of any rent payment that each calendar year Lessor shall furnish Lessee with a statement setting forth (i) the actual expenses incurred by Lessor in the calendar year for which Lessor is for entitled to receive Additional Rent, and (ii) the payments of Additional Rent actually made by Lessee with respect to such period; if Lessee's payments of Additional Rent are less than the entire amount then currently of Additional Rent to which Lessor is entitled (based on actual expenses), Lessee shall pay Lessor the deficiency within ten (10) business days after receipt of such statement; if Lessee's payments of Additional Rent exceed the amount of Additional Rent to which Lessor is entitled (based on actual expenses), Lessor shall offset the excess against the Additional Rent next thereafter to become due hereunder to Lessor. Lessee shall be only as have the right to review Lessor's books and records from time to time to verify the Additional Rent charges hereunder. Prior to commencement of this Lease, and on an acceptance on account and annual or semi-annual basis thereafter, Lessor shall not constitute an accord and satisfaction or a waiver by Lessor determine the amount of the balance Additional Rent as described herein, based on a review of the rent due or a waiver of any then-current operating costs of the remedies available to Lessor by reason of Lessee’s continuing default hereunder.subject property. Concurrent
Appears in 1 contract
Sources: Sublease (McAfee Associates Inc)
Rent. 4.1 MONTHLY BASE RENT1.01. The following Schedule shall apply: • June 1st 2011 Tenant agrees to December 31st, 2011 $ 6,000 per month • January 1st 2012 pay to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The Landlord a fixed annual rent (the "fixed annual rent") at the annual rate of ONE HUNDRED FORTY-SEVEN THOUSAND EIGHT HUNDRED EIGHTY-NINE & 00/100 ($147,889.00) DOLLARS in equal monthly base rental due hereunder shall be payable to Lessor by installments of TWELVE THOUSAND THREE HUNDRED TWENTY-FOUR & 08/100) ($12,324.08) DOLLARS each in advance on the first day of each calendar month during the Term Term, at the address stated herein office of Landlord or to such other persons place as Landlord may designate, without any setoff or at deduction whatsoever, except such other places deductions as Lessor may designate are specifically referred to in writing Articles 10 and 14 hereof. The first full month's installment of fixed annual rent and the Security Deposit described in Article 41 hereof shall be paid by Tenant to Landlord upon the execution of this Lease. Should the Commencement Date fall on any day other than the first day of a month, then the fixed annual rent for such month shall be prorated on a per diem basis, and Tenant agrees to pay the amount thereof for such partial month on the Commencement Date.
1.02. Tenant shall pay the fixed annual rent and all additional rent payable hereunder in lawful money of the United States by check (subject to collection) drawn to the order of America▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ - One Exchange, or such other party as Landlord may from time to time designate, on a bank which is a member of the New York Clearinghouse Association or a successor thereto. All sums, other than fixed annual rent, payable by Tenant hereunder shall be deemed additional rent and shall be payable to Lessor’s bank account by regular electronic depositon demand unless other payment dates are hereinafter provided. Landlord shall have the same right and remedies (including, without prior demand limitation, the right to commence a summary proceeding) for a default in the payment of additional rent as for a default in the payment of fixed annual rent notwithstanding the fact that Tenant may not then also be in default in the payment of fixed annual rent.
1.03. If Tenant shall fail to pay when due any installment of fixed annual rent or notice any payment of additional rent for a period of 7 days after such installment or payment shall have become due, Tenant shall pay interest thereon at the Interest Rate (as such term is defined in Article 22 hereof), from the date when such installment or payment shall have become due to the date of the payment thereof, and without deduction or set off for counterclaimsuch interest shall be deemed additional rent. The Lessee further agrees to pay Lessor, provisions of this Section 1.03 are in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided remedies available to be paid by Landlord for nonpayment of fixed annual rent or additional rent.
1.04. If any of the Lessee to the Lessor. Said payment fixed annual rent or additional rent payable under this Lease shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withholdbecome uncollectible, deduct reduced or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance refunded because of any rent payment that Legal Requirement (as such term is for less than defined in Article 22 hereof), Tenant shall enter into such agreement(s) and take such other legally permissible steps as Landlord may request to permit Landlord to collect the entire amount then currently due maximum rents which from time to time during the continuance of such Legal Requirement may be legally permissible and not in excess of the amounts reserved therefor under this Lease. Upon the termination of such Legal Requirement, (a) the rents hereunder shall be only as payable in the amounts reserved herein for the periods following such termination and (b) Tenant shall pay to Landlord, to the maximum extent legally permissible, an acceptance on account and shall not constitute an accord and satisfaction or a waiver amount equal to (i) the rents which would have been paid pursuant to this Lease but for such Legal Requirements less (ii) the rents paid by Lessor of Tenant during the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderperiod such Legal Requirement was in effect.
Appears in 1 contract
Sources: Lease Agreement (Labranche & Co Inc)
Rent. 4.1 MONTHLY BASE RENT(a) The Lessee shall pay the Lessor as rent for the leased premises, the minimum annual sum of $253,920.00, plus sales tax and any other taxes or assessments which may hereafter be levied on rents by any governmental authority, payable without demand and without set off or deduction, except as expressly provided herein, in equal monthly installments of $21,160.001, plus sales tax and any other taxes which may hereafter be February 1, 2016 and continuing thereafter until said total shall be paid. Monthly T & I payment will be $4,015.00. The following Schedule T & I amount is subject to annual review based upon actual expenses. Amount may be subject to increasement or decreasement. For purposes of this Clause, the term "CPI" shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor mean the "Consumer Price Index for All Urban Consumers" published by the first day Bureau of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money Labor Statistics of the United States Department of AmericaLabor, for the United States, U.S. City Average for all Urban Areas, on the 1982-84=100 base, 12 month period adjustment, or any renamed local index covering the United States or any other successor or substitute index appropriately adjusted.
(b) If the Lessee defaults in the payment of any installment or rent hereunder, Lessee shall pay a "late fee" of $25.00 after the third day, such installment is late and, additionally, such late installment shall bear interest at the rate of 18% percent per annum from the day it is due until actually paid. All rent In like manner, ail other obligations, benefits, and monies which may become due to the Lessor from the Lessee under the terms hereof, or which are paid by the Lessor, because of the Lessee's default hereunder, shall bear interest at the rate of 18% percent per annum from the due date until paid, or, in the case of sums paid by the Lessor because or Lessee's default hereunder, from the date such payments are made by Lessor until the date the Lessor is reimbursed by the Lessee therefor. After the fifth day, Lessee will be payable put on credit hold until all funds are collected. Any checks, drafts, or other transfers of funds from Lessee to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent fulfillment of any obligation created by this Lease, which are returned or refused as provided herein"insufficient funds" or are otherwise uncollectable by Lessor, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the shall subject Lessee to a penalty of $50.00 or 5% of the Lessoruncollected amount, whichever is greater. Said payment All rights and remedies of the Lessor under this Lease shall be in addition to cumulative, and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and none shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or exclude any other sum due hereunder even if right or remedy at law. Such rights and remedies may be exercised and enforced concurrently and whenever and as often as the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderoccasion therefor arises.
Appears in 1 contract
Sources: Lease Agreement (On THE MOVE Corp)
Rent. 4.1 MONTHLY (a) Tenant shall pay as "BASE RENT" for each Lease Year during the Initial Term the sum of Four Hundred Twenty-One Thousand Two Hundred and No/100 Dollars ($421,200), payable in advance, in equal monthly installments of Thirty-Five Thousand One Hundred and No/100 Dollars ($35,100). If Tenant exercises its option to extend the Term, Tenant shall pay as Base Rent during the Renewal Term the sum of Four Hundred Ninety Thousand Eight Hundred and No/100 Dollars ($490,800), payable in advance in equal monthly installments of Forty Thousand Nine Hundred and No/100 Dollars ($40,900). The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The first and last monthly base rental installments are due hereunder shall be and payable to Lessor by on the execution of this Lease and the remaining installments are due and payable in advance on the first day of each and every month during the Term Term, without offset or deduction, to Landlord at the address stated herein or to such other persons set forth in PARAGRAPH 26 or at such other places place as Lessor Landlord may hereafter designate in writing. Rent checks are to be made payable to Landlord, or such other person, firm or corporation as Landlord may designate in writing writing.
(b) All sums due and shall be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositTenant under this Lease other than Base Rent are "ADDITIONAL RENT", without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not so called in the actual gross rentable square footage text of the Premises this Lease. Any Additional Rent for which no time for payment is specified in this Lease shall be due and payable within ten (10) days after demand is made therefor.
(c) All Rent, whether Base Rent or Additional Rent, is due and payable in full without demand, deduction or set-off and Tenant's obligation to pay the same as set forth in Section 12 hereofshall survive the expiration or other termination of this Lease. Lessee shall have no right Tenant's covenant to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises pay Rent is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. an independent covenant.
(d) Rent shall be paid without deductionequitably pro rated for any partial Lease Year or calendar year, offsetas the case may be, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than during the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderTerm.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule Except as otherwise expressly provided in this Lease, Tenant shall apply: • June 1st 2011 pay to December 31stLandlord, 2011 $ 6,000 per month • January 1st 2012 to December 31stwithout notice, 2012 $ 9,000 per month • January 1st 2013 to December 31stdemand, 2013 $ 10,500 per month • January 1st 2014 to December 31stoffset or deduction, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as Lessor may designate in writing and shall be paid in lawful money Money of the United States of America. All rent , at Landlord’s Address for Payment specified in Section 1.1.U above, or at such other place as Landlord shall be payable designate in writing time to Lessor’s bank account by regular electronic deposittime: (a) the Base Rent in equal monthly installments, without prior demand or notice in advance, on the first day of each calendar month during the Term, and without deduction or set off for counterclaim(b) the Additional Rent, at the respective times required hereunder. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each first monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage installment of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Base Rent shall be paid without deductionin advance on the date of Frame Completion (as defined in Section 3.8.F(ii) above and applied to the first installment of Base Rent coming due under this Lease. Tenant’s obligation to pay Rent shall begin on the Commencement Date; provided, offsethowever, prior notice that, if either the Commencement Date or demand, and Lessor’s acceptance of any rent payment that is for less the Expiration Date falls on a date other than the entire amount then currently first day of a calendar month, the Rent due hereunder for such fractional month shall be prorated on a per diem basis between Landlord and Tenant so as to charge Tenant only as an acceptance on account for the portion of such fractional month falling within the Term.
4.2 All past due installments of Rent owing by Tenant to Landlord not paid within five (5) Business Days after notice that such amount is past due shall be subject to a late charge of four percent (4%) of the amount of the late payment and shall not constitute an accord and satisfaction further bear interest until paid at a rate per annum (the “Interest Rate”) equal to the greater of (i) twelve percent (12%) by (ii) three percent (3%) above the prime rate of interest from time to time publicly announced by Bank of America, a national banking association, or a waiver by Lessor any successor thereof; 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 balance State of California, the rent rate of interest on such past due or a waiver installments of any Rent shall be the maximum rate of interest then permitted by applicable law. All amounts owing by Landlord to Tenant and not paid within ten (10) Business Days after written notice that such amount is past due shall bear interest at the remedies available to Lessor by reason of Lessee’s continuing default hereunderInterest Rate.
Appears in 1 contract
Sources: Sublease (Celladon Corp)
Rent. 4.1 MONTHLY BASE RENT. The following Schedule A. Tenant shall apply: • June 1st 2011 pay to December 31stLandlord, 2011 as rent for the Primary Lease Term, the sum of Thirty One Thousand, Four Hundred Thirteen and no /100 Dollars ($ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder 31,413.00 ) (the “Base Rent”) which sum shall be payable to Lessor by in monthly installments commencing on February 1, 2000 , and continuing thereafter on or before the first day of each succeeding calendar month. The Base Rent schedule payable in monthly installments and based on a Thirty Six ( 36 ) month during Primary Lease Term for the Term Premises shall be as follows: All Base Rent or other rentals or sums due hereunder shall be paid in advance without notice, abatement, deduction or offset at the address stated herein office of Landlord or to such other persons person or at such other places place as Lessor Landlord may designate in writing and shall be paid in lawful money of the United States States. Notwithstanding the above, in the event any rent or other amounts owing hereunder are not paid within five (5) days after the due date, then Landlord and Tenant agree that Landlord will incur additional administrative expenses, the amount of Americawhich will be difficult if not impossible to determine. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay LessorAccordingly, in addition to such required payment, Tenant shall pay to Landlord an additional one time late charge for any such late payment in the rent as provided herein, all privilege, sales, excise, rental and other taxes amount of five percent (except income taxes5%) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth amount of such late payment. Failure to charge or collect such late charge in Section 12 hereof. Lessee shall have no right to withhold, deduct connection with any one or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and more such late payments shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of Landlord’s right to charge and collect such late charges in connection with any other or similar or like late payments.
B. Any Base Rent, Additional Rent, as hereinafter defined, or other amounts owing hereunder which are not paid within five (5) days after they are due shall bear interest at the rate which is three (3) percentage points above the then current prime interest rate published by Norwest Bank, or successor thereto (the “Prime Rate”), from the due date of such payment until received by Landlord. Similarly, any amounts paid by Landlord to cure any defaults of Tenant hereunder, which Landlord shall have the remedies available right, but not the obligation, to Lessor do, shall, if not repaid by reason Tenant within five (5) days after demand by Landlord, thereafter bear interest at the above rate until received by Landlord. Failure to charge or collect such interest in connection with any one or more such late payments shall not constitute a waiver of LesseeLandlord’s continuing default hereunderright to charge and collect such interest in connection with any other or similar or like late payments.
Appears in 1 contract
Rent. 4.1 MONTHLY BASE RENT. The following Schedule a. Subtenant shall apply: • June 1st 2011 pay to December 31stSublandlord basic rent ("Base Rent") in the amount of One Hundred Eighty-Eight Thousand Two Hundred Seventy-Two and 00/100 Dollars ($188,272.00) per annum, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by in advance on the first day of each calendar month during commencing on January 1, 2003 through November 30, 2003 in installments of Fifteen Thousand Six Hundred Eighty-Nine and 33/100 Dollars ($15,689.33) each. In the event the Base Rent commences on a day other than the 1st day of the month or the Term ends on a day other than the last day of the month, the monthly Base Rent shall be prorated for any partial month.
b. In addition to the Base Rent set forth in Subsection 5.a. above, Subtenant shall pay Sublandlord, as additional rent, all other sums of money which shall be due and payable by Subtenant under the terms and conditions of this Sublease.
c. The terms "Base Rent" and "additional rent" are sometimes referred to herein as "Rent" or "rent" and shall include all sums due from Subtenant to Sublandlord under the terms of this Sublease. All Rent payable to the Sublandlord hereunder shall be payable at the address stated herein or to such other persons office of the Sublandlord at the following address: Lucent Technologies Inc. ▇/▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇.▇. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ 30384-7374 or at such other places address as Lessor may designate in writing directed by notice from Sublandlord to Subtenant. Sublandlord's acceptance of Rent after it shall become due and payable shall be paid in lawful money not excuse a delay upon subsequent occasions or constitute a waiver of the United States of AmericaSublandlord's rights. All rent The Rent shall be payable to Lessor’s bank account by regular electronic depositin advance without demand, without prior demand deduction, set-off or notice and without deduction or set off for counterclaimabatement of any kind. The Lessee further agrees Subtenant's obligation to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent shall be paid without deduction, offset, prior notice survive the expiration or demand, and Lessor’s acceptance earlier termination of any rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderthis Sublease.
Appears in 1 contract
Sources: Sublease (Inhibitex Inc)
Rent. 4.1 MONTHLY BASE RENT(a) Tenant shall pay as "Base Rent" for each Lease Year during the Initial Term the sum of_______________________________________ ________________________________________________ and No/100 Dollars ($__________), payable in advance, in equal monthly installments of ____________________________________________________ and No/100 Dollars ($________). If Tenant exercises its option(s) to extend the Term, Tenant shall pay as Base Rent during the Renewal Term(s) a rental based upon the "market rate" for the Premises. The following Schedule shall apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The first and last monthly base rental installments are due hereunder shall be and payable to Lessor by on the execution of this Lease and the remaining installments are due and payable in advance on the first day of each and every month during the Term Term, without offset or deduction, to Landlord at the address stated herein or to such other persons set forth in Paragraph 26 or at such other places place as Lessor Landlord may hereafter designate in writing. Rent checks are to be made payable to Landlord, or such other person, firm or corporation as Landlord may designate in writing writing.
(b) All sums due and shall be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic depositTenant under this Lease other than Base Rent are "Additional Rent", without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not so called in the actual gross rentable square footage text of this Lease. Any Additional Rent for which no time for payment is specified in this Lease shall be due and payable within ten (10) days after demand is made therefor.
(c) All Rent, whether Base Rent or Additional Rent, is due and payable in full without demand, deduction or set-off and Tenant's obligation to pay the same shall survive the expiration or other termination of this Lease. Tenant's covenant to pay Rent is an independent covenant.
(d) Rent shall be equitably pro rated for any partial Lease Year or calendar year, as the case may be, during the Term.
(e) For each Renewal Term, Tenant shall notify Landlord that Tenant desires to exercise its option to extend the Term of this Lease for the next ensuing five (5) year period, and to obtain an appraisal of the Premises is to determine the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the base monthly rental or any other sum due hereunder even if the actual gross rentable square footage of market rent for the Premises is less than that set forth in Section 12. Rent for any period during the Term which is for by delivering written notice to Landlord not less than one month hundred twenty (120) days prior to the beginning of each Renewal Term. Tenant shall include in such notice the name of an MAI appraiser selected by Tenant which has an office in Licking County, Ohio. Landlord shall within thirty (30) days following receipt of such notice from Tenant give written notice to Tenant setting forth the name of a second MAI appraiser with an office in Licking County, Ohio. If Landlord fails to notify Tenant of the name of an appraiser within the thirty (30) day period, then the appraiser selected by Tenant shall determine the market rent and the decision of said appraiser shall be binding upon the parties hereto. If Landlord has selected an appraiser in accordance with the provisions of this Paragraph, then the appraiser selected by Landlord and the appraiser selected by Tenant shall meet and select a pro rata portion third MAI appraiser with an office in Licking County, Ohio. The appraiser selected by Landlord and the appraiser selected by Tenant shall each appraise the Premises for purposes of obtaining said market rent. The third appraiser shall determine and notify Landlord and Tenant which of the monthly installment. The term “rent” as used hereintwo appraisals made by Landlord's and Tenant's appraisers more closely reflects the market rent of the Premises, unless otherwise specified, shall refer collectively to and the monthly base rent and any other sums required to be paid by Lessee to Lessor hereunder. Rent decision of the third appraiser shall be paid without deduction, offset, prior notice or demand, and Lessor’s acceptance of any rent payment that is for less than binding upon the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or a waiver by Lessor of the balance of the rent due or a waiver of any of the remedies available to Lessor by reason of Lessee’s continuing default hereunderparties hereto.
Appears in 1 contract
Sources: Lease Agreement (MPW Industrial Services Group Inc)