Rent. Sublessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
Appears in 3 contracts
Sources: Real Estate Matters Agreement, Real Estate Matters Agreement (Keysight Technologies, Inc.), Real Estate Matters Agreement (Agilent Technologies Inc)
Rent. Sublessee shall 3.1 Tenant agrees to pay Sublessor as rent for to Landlord in advance on or before the Premises (“first day of each month the Base Rent”) its pro rata share (based on the ratio , subject to adjustment as hereinafter provided, without deduction or set off, for each month of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, entire Lease Term. One such monthly installment together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Security Deposit shall be due and payable by Tenant to Landlord upon execution of this lease, and a like Each monthly installment shall be due and payable without demand on or before the first day of each calendar month succeeding the Commencement Date during the Lease Term. Base Rent for any period of less than a full month shall be prorated, based on one thirtieth (1/30) of the current Base Rent for each day of the partial month this Lease is in effect.
3.2 In addition to and along with the monthly installments of Base Rent pursuant to Subsection 3.1 hereof, Tenant shall pay to Landlord an amount equal to the sum of all taxes on Rent, directly or indirectly imposed by any government entity (the “Rent Tax”) as Additional Rent.
3.3 If any installment of the Base Rent, or any other sums owed by Tenant to Landlord under this Lease, is not received within thirty five (305) days of delivery by Landlord of an invoice thereforafter the due date thereof, without deduction implying Landlord’s consent to such late payment, or offset if Landlord pays a sum on behalf of or for Tenant (which Landlord may do in Landlord’s sole and without prior notice or demandabsolute discretion), at and Landlord is not repaid such sum within ten (10) days after demand therefore is made, Tenant, to the address indicated extent permitted by Sublessor law, agrees to pay, in writing from time addition to time. Such said installment of the Base Rent or such other sum owed, a late payment charge equal to ten percent (10%) of the installment of the Base Rent or such other sums owned. Said late payment charge shall increase from time constitute liquidated damages and shall be for the purpose of reimbursing Landlord for additional costs and expenses which Landlord expects to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor incur in connection with Sublessor’s exercise the handling and processing of late installment payments of the Base Rent and such other sums owed by Tenant to Landlord hereunder. If there is a late payment by Tenant, the damages resulting to Landlord will be difficult to ascertain precisely, and the foregoing charge constitutes a reasonable and good faith estimate by the parties of the extent of such damages and does not constitute interest. Notwithstanding the foregoing, such late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to this Lease. If any check delivered to Landlord by Tenant in payment of Base Rent or Additional Rent is not honored by the financial institution upon which such check was drawn and is returned to Landlord for any reason whatsoever, Landlord may impose, as Additional Rent, a returned check service charge of $15.00 or five percent (5%) of the amount of such returned check, whichever is greater, each time a check is not honored and returned to Landlord. Such returned check service charge shall be in addition to and not in lieu of any termination right late payment charge. If any two (2) checks delivered to Landlord by Tenant during the Lease Term in payment of Base Rent or option Additional Rent are not honored by the financial institution upon which such checks were drawn are returned to Landlord for any reason whatsoever, Landlord may require, upon written notice to Tenant, that Sublessor any and all subsequent payments of Base Rent or Additional Rent be made by either cash, money order or cashier’s check for the balance of the Lease Term.
3.4 The Security Deposit shall be held by Landlord as security for the performance by Tenant of Tenant’s covenants and obligations under this Lease. Such deposit shall not be considered an advance payment of Rent or a measure of Landlord’s damages in a default by Tenant. No interest or other such return shall be paid on said Security Deposit. Upon any event of default by Tenant, Landlord may have under (but shall not be obligated to), without prejudice to any other remedy, use the Master Lease to terminate the Master Lease prior Security Deposit to the expiration extent necessary to fund any arrearage of Rent and any other damage, injury, expense or liability caused to Landlord by such event of default. Following such application of the then-scheduled term Security Deposit, Tenant shall pay to Landlord on demand the amount so applied to restore the Security Deposit to its original amount. If there is not then an event of default, any remaining balance of the Master Security Deposit shall be returned by Landlord to Tenant upon termination of this Lease. If Landlord transfers its interest in the Premises during the Lease (it being understood that Sublessee Term, Landlord may assign the Security Deposit to the transferee and thereafter shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves further liability for the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use return of the PremisesSecurity Deposit. The Security Deposit may be co-mingled or combined with other accounts or funds of Landlord.
3.5 All amounts required to be paid by Sublessee under this Sublease sums other than Base Rent payable by Tenant to Landlord under this Lease shall constitute “Additional Rent”. Base Rent and Additional Rent are herein referred to collectively as “Rent”. All Rent due hereunder shall bear interest from the due date until paid in full at a rate equal to the lesser of: (a) the prime interest rate in effect from day to day at NationsBank of Georgia, N.A., plus three (3) percentage points; or (b) the maximum legal rate allowed by law (the “Default Rate”). If more than the maximum legal rate of interest should ever be collected with regard to any sum due hereunder, said excess amount shall be credited against future payments of Rent accruing thereafter. If no such further Rent accrues hereunder, said excess sums shall be promptly refunded by Landlord to Tenant upon demand by Tenant.
3.6 No payment by Tenant or receipt by Landlord of a lesser amount than the correct Rent shall be deemed additional rentto be other than a payment on account, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction. Landlord may accept such check of payment without prejudice to Landlord’s right to recover the balance or to pursue any other remedy.
Appears in 3 contracts
Sources: Office Building Lease Agreement (Local Matters Inc.), Office Building Lease Agreement (Local Matters Inc.), Office Building Lease Agreement (Local Matters Inc.)
Rent. Sublessee 7.1 Commencing on the Term Commencement Date, Tenant shall pay Sublessor to Landlord the sums set forth in Section 2.3 as rent Base Rent for the Premises Premises, subject to the abatement of Base Rent to the extent set forth in Section 8 below. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term. For the avoidance of doubt, Tenant’s payment of Base Rent for the first (1st) month of the Term shall be delivered to Landlord on the Term Commencement Date.
7.2 In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Base Additional Rent”) its pro rata share (based ), commencing on the ratio of Term Commencement Date (or the square footage of the Premises to the square footage of the Master Premises Expense Trigger Date (its “Pro Rata Share”)as defined below) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due Operating Expenses) and payable within thirty (30) days at times hereinafter specified in this Lease, notwithstanding any abatement of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases provided in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master LeaseSection 8 below, (a) its Pro Rata Tenant’s Adjusted Share (as defined below) of all operating expensesOperating Expenses (as defined below), taxes, insurance (b) the Property Management Fee (as defined below) and (c) any other costs payable amounts that Tenant assumes or agrees to pay under the Master Leaseprovisions of this Lease that are owed to Landlord, but specifically excluding including any fees, costs, charges or and all other consideration paid or payable sums that may become due by Sublessor to Master Lessor in connection with Sublessor’s exercise reason of any termination right default of Tenant or option that Sublessor may have under failure on Tenant’s part to comply with the Master agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3 Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing (which may, at Tenant’s election, include payment of Rent by ACH, subject to an ACH authorization form reasonably acceptable to Landlord (which form shall stipulate that such authorization is for credit entries only to Landlord’s bank account)). In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4 Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Master Lease Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the expiration date of the then-scheduled term expiration or earlier termination of the Master Term or this Lease (it being understood that Sublessee shall have no obligation to pay any portion of survive any such feesexpiration or earlier termination; provided, costshowever, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained nothing in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee sentence shall in any way affect Tenant’s obligations with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease any other than Base Rent shall be deemed additional rentperiod.
Appears in 2 contracts
Rent. Sublessee shall 4.1 Tenant hereby agrees to pay Sublessor as rent for Landlord the Premises Base Rent. 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. Each monthly installment (the “Base Monthly Rent”) its pro rata share shall be payable by check or by money order on or before the first day of each calendar month. In addition to the Base Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes (based on 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 ratio “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or any other items of Rent that are not paid by Tenant. The Monthly Rent and the Additional Rent are sometimes hereinafter collectively called “Rent” and shall be paid when due in lawful money of the square footage United States without demand, deduction, abatement, or offset to the addresses for the rental payment set forth in the Basic Lease Information, or as Landlord may designate from time to time.
4.2 In the event any Monthly or Additional Rent or other amount payable by Tenant hereunder is not paid within five (5) days after its due date, Tenant shall pay to Landlord a late charge (the “Late Charge”), as Additional Rent, in an amount of five percent (5%) of the amount of such late payment; provided, however, that Tenant shall be entitled to a grace period of five (5) days for the first late payment in a calendar year. Failure to pay any Late Charge shall be deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and remedies available to Landlord hereunder, at law or in equity, and shall not be construed as liquidated damages or limiting Landlord’s remedies in any manner. Failure to charge or collect such Late Charge in connection with any one (1) or more such late payments shall not constitute a waiver of Landlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments.
4.3 Simultaneously with the execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of Monthly Rent for the fifth (5th) full calendar month of the initial Term (subject to Tenant’s right to receive Abated Base Rent described in Section 4.7 below) and Tenant’s Share of Operating Expenses and Taxes for the first (1st) full calendar month of the initial Term; and (ii) the Letter of Credit, as described in Article 53 below. Any Security Deposit that may be required under this Lease shall be held by Landlord as security for the performance by Tenant of all of the covenants of this Lease to be performed by Tenant and Tenant shall not be entitled to interest thereon. The Security Deposit is not an advance rent deposit, an advance payment of any other kind, or a measure of Landlord’s damages in any case of Tenant’s default. If Tenant fails to perform any of the covenants of this Lease to be performed by Tenant, including without limitation the provisions relating to payment of Rent, the removal of property at the end of the Term, the repair of damage to the Premises caused by Tenant, and the cleaning of the Premises upon termination of the tenancy created hereby, then Landlord shall have the right, but no obligation, to apply the Security Deposit, or so much thereof as may be necessary, for the payment of any Rent or any other sum in default and/or to cure any other such failure by Tenant. If Landlord applies the Security Deposit or any part thereof for payment of such amounts or to cure any such other failure by Tenant, then Tenant shall immediately pay to Landlord the sum necessary to restore the Security Deposit to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an full amount equal to Sublesseethen required by this Section 4.3 Landlord’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease obligations with respect to the Shared AreasSecurity Deposit are those of a debtor and not a trustee. Such amounts Landlord shall not be required to maintain the Security Deposit separate and apart from Landlord’s general or other funds and Landlord may commingle the Security Deposit with any of Landlord’s general or other funds. Upon termination of the original Landlord’s or any successor owner’s interest in the Premises or the Building, the original Landlord or such successor owner shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing released from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee further liability with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentSecurity Deposit upon the original Landlord’s or such successor owner’s complying with California Civil Code Section 1950.
Appears in 2 contracts
Sources: Lease Agreement (PROCEPT BioRobotics Corp), Lease Agreement (PROCEPT BioRobotics Corp)
Rent. Sublessee shall pay Sublessor as The fixed rent for the Premises (hereinafter “Base Fixed Rent”) its pro rata share payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 (based $211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the ratio Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the square footage provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the Premises to rights and remedies provided by law or provided for in the square footage Lease for the nonpayment of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master LeaseFixed Rent. All Fixed Rent payments are due in advance without demand, together with an amount equal to Sublessee’s pro rata share (based deduction or set-off on the ratio first day of square footage of each and every month during the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared AreasTerm and any extension or renewal thereof. Such amounts Fixed Rent for any partial month shall be due and payable prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within thirty ten (3010) days of delivery by Landlord of an invoice thereforthe due date thereof, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Tenant shall be deemed charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional rentremedies herein provided to Landlord.
Appears in 2 contracts
Sources: Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals, Inc.), Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals Inc)
Rent. Sublessee shall (a) Tenant agrees to pay Sublessor as rent for to Landlord the Premises Annual Base Rent and Additional Rent (“Base Rent”) its pro rata share (based in equal consecutive monthly installments on or before the ratio first day of each full calendar month during the Term. Rent for any period during the Term which is less than one frill month shall be a prorated portion of the square footage monthly installment of Rent based upon the Premises to the square footage actual number of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areascalendar days in such month. Such amounts Said Rent shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demanddemand at Landlord’s address, as set forth on the Reference Page, or to such other person or at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase such other place as Landlord may from time to time based on increases designate in writing.
(b) Tenant recognizes that late payment of any Rent or other sum due hereunder will result in administrative expense to Landlord, the base rent under the Master extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that, if Rent or any other sum is due and payable pursuant to this Lease. In addition, Sublessee shall pay, as and when such amount remains due under and unpaid ten (10) calendar days after said amount is due, such amount shall be increased by a late charge in an amount equal to the Master Lease, greater of: (a) its Pro Rata Share of all operating expenses$50.00, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect a sum equal to its use 5% of the Premisesunpaid Rent or other payment. All amounts required The amount of the late charge to be paid by Sublessee under Tenant shall be, reassessed and added to Tenant’s obligation for each successive monthly period until paid. The provisions of this Sublease paragraph in no way relieve Tenant of the obligations to pay Rent or other than payments on or before the date on which they are due, nor do the terms of this paragraph in any way affect Landlord’s remedies pursuant to Paragraph 23 of this Lease.
(c) Tenant shall pay interest to Landlord at the Overdue Interest Rate (as defined below) on account of (i) all overdue installments of Annual Base Rent shall be deemed additional rent.and payments of Additional Rent due on a regular basis from the tenth day from the due date thereof to the date of payment, and (ii) on all payments of Additional Rent that are not payable to Landlord hereunder on a regular basis from the date of demand for payment until the date of payment. Upon default by Tenant in the payment of Additional Rent or
Appears in 2 contracts
Sources: Lease Agreement (Avago Technologies LTD), Lease Agreement (Cyoptics Inc)
Rent. Sublessee shall 4.1 Tenant hereby agrees to pay Sublessor as rent for Landlord the Premises (“Base Rent”) its pro rata share (based on the ratio . For purposes of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable Rent adjustment under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under if the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option Commencement Date falls on a date that Sublessor may have under the Master Lease to terminate the Master Lease is prior to the expiration 15th day of the then-scheduled term calendar month, the number of months is measured from the first day of the Master calendar month in which the Commencement Date falls, or (b) if the Commencement Date falls on a date that is the 15th or a later day of the calendar month, the number of months is measured from the first day of the calendar month after the calendar month in which the Commencement Date falls. Each monthly installment (the “Monthly Rent”) shall be payable by check, wire, ACH transfer or by money order on or before the first day of each calendar month. Landlord agrees to accept payment by Federal Reserve Automated Clearing House (ACH) deposit only so long as such system is available for Landlord’s use. In addition to the Base Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all other sums of money as shall become due and payable by Tenant as hereinafter set forth, all of which shall constitute additional rent under this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor the “Additional Rent”). Landlord expressly reserves the right to exercise apply any such express early termination right payment received to Base Rent or option held any other items of Rent that are not paid by Sublessor under Tenant. The Monthly Rent and the Master Lease notwithstanding anything Additional Rent are sometimes hereinafter collectively called “Rent” and shall be paid when due in lawful money of the United States without demand, deduction, abatement, or offset to the contrary contained addresses for the rental payment set forth in this Subleasethe Basic Lease Information, or as Landlord may designate from time to time.
4.2 In the event any Monthly or Additional Rent or other amount payable by Tenant hereunder is not paid within five (5) days after its due date, Tenant shall pay to Landlord a late charge (the “Late Charge”), as Additional Rent, in an amount of five percent (5%) of the amount of such late payment. Failure to pay any Late Charge shall be deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and remedies available to Landlord hereunder, at law or in equity, and shall not be construed as liquidated damages or limiting Landlord’s remedies in any manner. Failure to charge or collect such Late Charge in connection with any one (b1) all costs directly incurred by or at more such late payments shall not constitute a waiver of Landlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments. Notwithstanding the request foregoing provisions of Sublessee this Section 4.2, the Late Charge shall not be imposed with respect to the first late payment in the twelve (12) months following the Commencement Date or with respect to the first late payment in any succeeding twelve (12) month period during the Term unless the applicable payment due from Tenant is not received by Landlord within five (5) days following written notice from Landlord that such payment was not received when due. Following the first such written notice from Landlord in the twelve (12) months following the Commencement Date and the first such written notice in any succeeding twelve (12) month period during the Term (but regardless of whether such payment has been received within such five (5) day period), the Late Charge will be imposed without notice for any subsequent payment due from Tenant during such applicable twelve (12) month period which is not received within five (5) days after its use due date.
4.3 Simultaneously with the execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of the Premises. All amounts required first installment of Monthly Rent and Tenant’s Share of Operating Expenses and Taxes due hereunder and (ii) if applicable, an amount equal to the Security Deposit Amount to be paid held by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.Landlord as security for Tenant’s faithful performance of all
Appears in 2 contracts
Sources: Lease Agreement (Talend SA), Lease Agreement (Talend SA)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first (1st) day of each full calendar month during the Term, except that the first (1st) full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing. Unless specified in this Lease to the base rent under the Master Lease. In additioncontrary, Sublessee shall pay, as all other amounts and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or sums payable by Sublessor Tenant to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Landlord pursuant to this Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within five (5) business days following notice from Landlord that such payment is overdue (a “Late Notice”), then a late charge shall be imposed in an amount equal to five percent (5%) of the unpaid rent or other payment which is overdue (a “Late Charge”); provided, however, that Landlord shall not be obligated to deliver a Late Notice to Tenant more often than once in any twelve (12) month period in order to collect a Late Charge for amounts which are not paid on or before the date when due. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 shall in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after the date due.
Appears in 2 contracts
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.13.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.13.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Tenant hereby acknowledges and agrees that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that rent shall continue to be payable in all events and that the obligations of Tenant hereunder shall continue unaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to an express provision of this Lease. Landlord and Tenant each acknowledges and agrees that the independent nature of the obligations of Tenant hereunder represents fair, reasonable, and accepted commercial practice with respect to the type of property subject to this Lease. Such acknowledgements by Tenant are a material inducement to landlord entering into this Lease.
Appears in 2 contracts
Sources: Lease (Alnylam Pharmaceuticals, Inc.), Lease (Alnylam Pharmaceuticals, Inc.)
Rent. Sublessee During the Lease Term, Tenants, jointly and severally, shall pay Sublessor as a total rent for to Landlord in the Premises amount of $ . Said total rent shall be paid by Tenant to Landlord in equal monthly installments of $ (“Base Rent”) its pro rata share to Landlord, at Landlord’s address set forth above, in advance and shall be received in hand or postmarked on or before the first (based 1st) day of each calendar month during the Lease Term and without demand, delay or offset for any reason and without a grace period. If the Rent is not received in hand or postmarked on or before the ratio 1st day of each month, the Tenant is in default of this said lease. Time is of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable essence for each and every monthly Rent payment and for all other monies due and owing under the Master this Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)including security deposit, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery damages, invoices or other costs or expenses chargeable by law by Landlord of an invoice thereforto Tenant. Tenant shall submit all rental payments in full and acknowledges that, without deduction or offset and without prior notice or demandin the event there is more than one Tenant, then Tenants agree that all separate payments will be paid at the address indicated by Sublessor in writing from same time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Leasesame envelope. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor Landlord reserves the right to exercise refuse individual or partial payments. Tenant acknowledges that Rent amount for Premises specified herein may vary from similar Premises within the building and that such variation is due to either a discount granted to other Tenants for longevity of leasing with Landlord or water usage by double occupancy of any such express early termination right bedroom (Example: 2 tenants occupying a 1-bedroom apartment, 3-4 tenants occupying a 2-bedroom apartment, or option held 4-6 tenants occupying a 3-bedroom apartment) Tenants, shall jointly and severally, immediately pay to Landlord a late fee of Fifty Dollars ($50) for any monthly payment of Rent not received in hand by Sublessor under Landlord on or before the Master Lease notwithstanding anything first (1st) day of each calendar month, and an ongoing $5 per day late fee after the 5th day that Rent has not been received in hand by Landlord. It is Tenant’s responsibility to ensure that Landlord receives said Rent. Tenants jointly and severally shall pay to Landlord a fee of Fifty Dollars ($50), or any amounts charged by Landlord’s bank if greater than $50, for each check of Tenants jointly or severally returned by a banking institution for insufficient funds or for any other reason. If Landlord receives a returned check issued jointly or severally by Tenants from a banking institution, Landlord may require that Tenants make all future payments to Landlord in the form money order or certified cashiers check only. Landlord will first deduct all fees, damages, costs and charges, including late fees, NSF fees, and other damages and costs set forth herein, from all amounts received from Tenant on a monthly basis before applying said amounts to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentdue.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 2 contracts
Sources: Lease Agreement (Schrodinger, Inc.), Memorandum of Understanding (Cygne Designs Inc)
Rent. Sublessee shall pay Sublessor 3.1 Effective as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage Rent Commencement Date, Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first month’s rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth of the Premises to Annual Rent in effect at such time. Rent for any period during the square footage Term which is less than a full month shall be a prorated portion of the Master Premises (its “Pro Rata Share”)) Monthly Installment of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (Rent based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within upon a thirty (30) days of delivery by Landlord of an invoice thereforday month. Said rent shall be paid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Landlord’s address, as set forth on the Reference Page, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the base extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent under the Master Lease. In addition, Sublessee shall pay, as and or any other sum is not paid when due under the Master and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease Fifty Dollars (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease$50.00), and or (b) all costs directly incurred by or at the request of Sublessee with respect a sum equal to its use five percent (5%) per month of the Premisesunpaid rent or other payment. All amounts required The amount of the late charge to be paid by Sublessee under this Sublease other than Base Rent Tenant shall be deemed additional rentreassessed and added to Tenant’s obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 in the event said rent or other payment is unpaid after date due. Notwithstanding the foregoing, Tenant shall be entitled, not more than once per calendar year, to a notice of non-payment and a five-day grace period thereafter before a late charge may be assessed.
Appears in 2 contracts
Sources: Lease Agreement (Aspen Aerogels Inc), Lease (Aspen Aerogels Inc)
Rent. Sublessee shall During the Term, ▇▇▇▇▇▇ will pay Sublessor as rent to Landlord the Rent and Additional Charges in lawful money of the United States of America and legal tender for the Premises (“payment of public and private debts, in the manner provided in Section 3.3. The Base Rent”) its pro rata share (based Rent during any Lease Year is payable in advance in consecutive monthly installments on the ratio fifth (5th) Business Day of each calendar month during that Lease Year is payable in advance in consecutive monthly installments on the square footage fifth (5th) Business Day of each calendar month during that Lease Year; provided that Tenant shall be entitled to set off against a Rent payment due hereunder any rent payments made by Tenant’s Parent or one of its Subsidiaries to third-party lessors (and not previously set off) under leases (or subleases) existing on the Premises Commencement Date, which leases (or subleases) are related to any Facility subject to this Master Lease or provide access or other similar rights to such Facility, if such lease (or sublease) has not been transferred to Landlord either (i) solely because the square footage of the Master Premises requisite consents to transfer have not been obtained or (its “Pro Rata Share”)ii) of because the rent payable under such lease is satisfied through the Master Leasepayment of local development taxes, together with an amount equal fees or other amounts paid by Tenant (provided that, in each case, Tenant shall certify to Sublessee’s pro rata share Landlord in writing on a periodic basis as reasonably requested by Landlord the applicable lease (based on or sublease) and third-party lessor and include reasonable detail regarding the ratio of square footage amounts paid thereunder). Unless otherwise agreed by the parties, Rent and Additional Charges shall be prorated as to any partial months at the beginning and end of the Premises (excluding the Shared Areas) to the square footage Term. The parties will agree on an allocation of the Master Premises (excluding Base Rent on a declining basis for federal income tax purposes within the Shared Areas), 115/85 safe harbor of Section 467 of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days Code, assuming a projected schedule of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in for this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentpurpose.
Appears in 2 contracts
Sources: Master Lease (PENN Entertainment, Inc.), Master Lease (Gaming & Leisure Properties, Inc.)
Rent. Sublessee 7.1. Tenant shall pay Sublessor to Landlord as Base Rent for the Premises, commencing on December I, 2018 (the “Rent Commencement Date”), the sums set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
7.5. Provided that Tenant is not then in default of this Lease (beyond the expiration of all applicable notice and cure periods expressly set forth in this Lease), then during the initial six (6) calendar months of the Term following the Rent Commencement Date (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises (the “Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement shall be in an amount not to exceed Two Hundred Seventy-Eight Thousand Two Hundred Seven and 70/100 Dollars ($278,207.70). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease beyond any applicable notice and cure period provided in this Lease, then Tenant’s right to receive the Base Rent Abatement for the Base Rent Abatement Period shall automatically terminate as of the date of such default and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The Base Rent Abatement shall be personal to the original Tenant and shall only apply to the extent that the original Tenant (“Base Rent”) its pro rata share (based on the ratio and not any assignee, or any sublessee or other transferee of the square footage of original Tenant’s interest in this Lease) is the Premises Tenant under this Lease during the Base Rent Abatement Period. Nothing in this Section shall work to ▇▇▇▇▇ or reduce (during the square footage of the Master Premises (its “Pro Rata Share”)Rent Abatement Period or otherwise) of the rent payable Tenant’s obligations under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master this Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty Additional Rent including (30without limitation) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with SublessorTenant’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee obligations with respect to its use Tenant’s Adjusted Share of Operating Expenses and the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentProperty Management Fee.
Appears in 2 contracts
Sources: Lease (Erasca, Inc.), Lease (Erasca, Inc.)
Rent. Sublessee shall Section 3.01. Tenant covenants and agrees to pay Sublessor as rent to Landlord from and after the Commencement Date and for the Premises remainder of the term of this Lease, an annual rent (“Base Annual Rent”) its pro rata share in the amount of one Dollar (based $1), payable in advance on the ratio first business day of each calendar year during the term. Landlord acknowledges that Tenant has prepaid the Annual Rent for the entire Term.
Section 3.02. Tenant will, at Tenant’s sole cost and expense, bear, pay and discharge prior to delinquency, as additional rent, all Impositions which shall, pursuant to present or future law or otherwise, prior to or during the term hereby granted, have been or be levied, charged, assessed, or imposed, and any interest or penalties for late payment thereof; it being the intention of the square footage of parties hereto that the Premises rents reserved herein shall be received and enjoyed by Landlord as a net sum free from all such Impositions. Landlord shall be responsible for all taxes, including ad valorem real estate taxes, imposed on or otherwise relating to the square footage Landlord Property.
Section 3.03. All payments of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal made by Tenant to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Landlord hereunder shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, and all other payments required to be made by Tenant to Landlord hereunder shall be payable upon such notice as is herein required, in lawful currency of the United States of America, or by check subject to collection, and shall be paid to Landlord by delivering or mailing the same by regular mail to the party to whom notices are to be sent pursuant to Section 17.01 or to such other person and/or at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase such other place as Landlord may from time to time based on increases designate in writing.
Section 3.04. Tenant shall pay to Landlord throughout the base term of this Lease the rents, additional rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Leasepayments hereunder, but specifically excluding any feeswithout abatement, costsdeduction or set-off except as otherwise expressly provided herein; provided, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option however, that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee Tenant shall have no obligation not be required to pay any portion Impositions or any mortgage indebtedness or any interest on any mortgages that at any time may encumber the interests of Landlord in the Premises.
Section 3.05. All additional rent and other payments provided for under this Lease shall constitute rent payable hereunder with the same effect as if the same were the rent reserved herein and, in the event of the non-payment by Tenant of any such fees, costs, charges, penalties additional rent or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything payments when due according to the contrary contained terms of this Lease, Landlord shall have the same rights and remedies in this Sublease), and (b) all costs directly incurred by respect thereof as Landlord shall have or at the request of Sublessee with may have in respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentrent herein reserved.
Appears in 2 contracts
Sources: Purchase Agreement (Calpine Corp), Purchase Agreement (Pepco Holdings Inc)
Rent. Sublessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage For use and occupancy of the Premises during the Lease Term, but subject to the square footage terms timely payment requirements set forth below, Resident agrees to pay Owner the sum of $«Total contract amount» (which includes applicable federal, state, and local taxes) (the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be "Rent").Rent is due and payable within thirty in periodic installments, on or before the dates specified below (30the "Due Dates") days regardless of delivery by Landlord when these dates occur, including weekends, holidays, semester breaks or vacations, with no exceptions. Upon timely payment of an invoice thereforeach of these installments, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Resident shall be entitled to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of occupy the Premises. Resident shall tender all sums to the Owner’s agent under this Lease. All amounts required to sums shall be paid by Sublessee under this Sublease other in United States currency and shall be paid in full, without demand or set off. Payment or receipt of an installment of less than Base Rent the amount stated in the Lease shall be deemed additional rentto be nothing more than partial payment on the account. Under no circumstances shall Owner’s acceptance of a partial payment constitute accord and satisfaction. Nor will Owner’s acceptance of a partial payment forfeit Owner’s right to collect the balance due on the account, despite any endorsement, stipulation, or other statement on any check or other writing. The Owner may accept any partial payment check with any conditional endorsement without prejudice to its right to recover the balance remaining due, or to pursue any other remedy available under this Lease. Deletions, annotations, or other modifications to documents relevant to the Lease by applicant, Resident, or Guarantor, except by Owner’s written consent, and may render Lease null and void at Owner’s option. All payments will be first applied to any outstanding delinquent portions of the Rent, late fees, and other fees and charges owed by Resident and then applied to the monthly installment currently due.
Appears in 2 contracts
Sources: Individual Residential Lease Agreement, Residential Lease Agreement
Rent. Sublessee 3.1 T▇▇▇▇▇ agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent shall pay Sublessor as be paid upon the execution of this Lease and shall be offset against rent when it actually first becomes due under the Lease. Provided there is no Event of Default by Tenant under this Lease, payment of rent for the Initial Premises (“Base Rent”) its pro rata share (based shall be abated for the first year of the Term as set forth in the Initial Premises rent schedule on the ratio Reference Pages. The Monthly Installment of the square footage of the Premises to the square footage of the Master Premises Rent in effect at any time shall be one-twelfth (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing. Unless specified in this Lease to the base rent under the Master Lease. In additioncontrary, Sublessee shall pay, as all amounts and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or sums payable by Sublessor Tenant to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Landlord pursuant to this Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. T▇▇▇▇▇ therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord 's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease Agreement (Wageworks, Inc.)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Annual Rent then in effect on or before the first day of each full calendar month during the Term, except that the first Monthly Installment of Annual Rent shall pay Sublessor as rent for be paid upon the Premises (“Base Rent”) its pro rata share (based on the ratio execution of this Lease. The Monthly Installment of Annual Rent in effect at any time shall be one-twelfth of the square footage Annual Rent in effect at such time. The amount of Annual Rent due for any period during the Term which is less than a full month shall be a prorated portion of the Premises to the square footage Monthly Installment of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (Annual Rent based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within upon a thirty (30) days of delivery by Landlord of an invoice thereforday month. All Annual Rent and Additional Rent shall be paid to Landlord, without deduction or offset and without prior notice or demand, at Landlord's address, as set forth on the address indicated by Sublessor in writing from time Reference Page, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate by written notice to Tenant. sent to Tenant not later than thirty (30) days prior to the date the next Monthly Installment of Annual Rent is due, except in the base rent case of a sale or other transfer of the Building by Landlord, in which event such notice from Landlord may be sent to Tenant not later than fifteen (15) days prior to the date the next Installment of Annual Rent is due.
3.2 Tenant recognizes that late payment of any Annual Rent, Additional Rent or other sum due under this Lease will result in administrative expense to Landlord, the Master extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if Annual Rent, Additional Rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the unpaid amount of Annual Rent or Additional Rent or other payment; provided, however, that the first time such an Annual Rent and/or Additional Rent payment is late in any calendar year during the Term, Landlord shall not impose such late charge on Tenant unless and until Tenant shall have failed to pay the Annual Rent payment and/or the Additional Rent payment within five (5) days after receipt of notice from Landlord notifying Tenant of the delinquent payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive monthly period until paid. In addition, Sublessee shall pay, after the occurrence of an Event of Default (as and when due under the Master Lease, (ahereinafter defined) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior respect to the expiration payment of Monthly Installments of Annual Rent or Additional Rent to Landlord, such past-due and unpaid amounts shall bear interest ("Default Interest") at the rate per annum which is two percent (2%) higher than the "prime rate" then being charged by The Northern Trust Company of Chicago, Illinois from the date of the then-scheduled term occurrence of the Master Lease (it being understood Event of Default until the Event of Default is fully cured; provided, however, that Sublessee nothing contained herein shall have be construed as permitting Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law. Such late charge and Default Interest shall constitute Additional Rent. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay any portion of any such feesAnnual Rent, costs, charges, penalties Additional Rent or other consideration paid payments on or before the date on which they are due, nor do the terms of this Section 3.2 in connection with Sublessor’s exercise any way affect Landlord's remedies pursuant to Article 19 of any such early termination right this Lease in the event said Annual Rent, Additional Rent or optionother payment is unpaid after the date due.
3.3 Provided no Event of Default shall have occurred and be continuing, Landlord shall abat▇ ▇▇▇ forgive the Monthly Installment of Annual Rent due and that Sublessor reserves payable for the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use second fall calendar month of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentfirst Lease Year.
Appears in 1 contract
Sources: Deed of Lease (Intuit Inc)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. The Monthly Installment of Rent in effect at any time shall pay Sublessor as rent for the Premises be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing. Unless specified in this Lease to the base rent under the Master Lease. In additioncontrary, Sublessee shall pay, as all amounts and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or sums payable by Sublessor Tenant to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Landlord pursuant to this Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within two (2) days after notice has been given to Tenant of a delinquency pursuant to this Lease, on more than one (1) occasion during any calendar year, beginning with the second (2nd) such late payment and for every subsequent late payment during such calendar year, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Tenant hereby acknowledges and agrees that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that rent shall continue to be payable in all events and that the obligations of Tenant hereunder shall continue unaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to an express provision of this Lease. Landlord and Tenant each acknowledges and agrees that the independent nature of the obligations of Tenant hereunder represents fair, reasonable, and accepted commercial practice with respect to the type of property subject to this Lease. Such acknowledgements by Tenant are a material inducement to landlord entering into this Lease.
Appears in 1 contract
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within ten (10) days of when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease Agreement (Intrusion Inc)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term. The Monthly Installment of Rent in effect at any time shall pay Sublessor as rent for the Premises be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any Monthly Installment of Rent or other sum invoiced by Landlord under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Art Technology Group Inc)
Rent. Sublessee (See also Article 40. "SCHEDULE OF RENTS.")
3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first month's rent shall pay Sublessor as rent for be paid upon the Premises (“Base Rent”) its pro rata share (based on the ratio execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth of the square footage Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Premises to the square footage Monthly Installment of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (Rent based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within upon a thirty (30) days of delivery by Landlord of an invoice thereforday month. Said rent shall be paid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Landlord's address, as set forth on the Reference Page, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the base extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent under the Master Lease. In addition, Sublessee shall pay, as and or any other sum is not paid when due under the Master and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease Fifty Dollars (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease$50.00), and or (b) all costs directly incurred by or at the request of Sublessee with respect a sum equal to its use five percent (5%) per month of the Premisesunpaid rent or other payment. All amounts required The amount of the late charge to be paid by Sublessee under this Sublease other than Base Rent Tenant shall be deemed additional rentreassessed and added to Tenant's obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Biex Inc)
Rent. Sublessee 7.1. Tenant shall pay Sublessor to Landlord as rent Base Rent for the Premises Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Base Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. In calculating Operating Expenses, Landlord will allocate Operating Expense items which relate solely to one building of the Project and its pro rata share occupants (including, without limitation, portions thereof dedicated to non-exclusive use by building occupants) to the specific building to which such expenses relate, as further detailed in Exhibit J. Any Operating Expenses which cannot be allocated solely to one building and its occupants will be allocated on a proportionate basis (based on relative square footage) among the ratio buildings and occupants of the square footage Project (or those buildings to which such Operating Expense relates, and their occupants, if it is less than the entire Project) as further detailed in Exhibit J.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the Premises United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the square footage event the Term commences or ends on a day other than the first day of a calendar month, then the Master Premises (its “Pro Rata Share”)) Rent for such fraction of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based a month shall be prorated for such period on the ratio basis of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within a thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset day month and without prior notice or demand, shall be paid at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any current rate for such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentfractional month.
Appears in 1 contract
Rent. Sublessee 3.1 ▇▇▇▇▇▇ agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. ▇▇▇▇▇▇ therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to ▇▇▇▇▇▇’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 All monetary obligations of Tenant under this Lease are deemed to be rent.
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Rent. Sublessee shall (a) Tenant will pay Sublessor the base rent as rent for the Premises (“Base Rent”) its pro rata share (based shown in Exhibit "D" in equal monthly installments in advance beginning on the ratio later of August 1, 1997, or the square footage Occupancy Date (or if Landlord's Work is subdivided into Phases, on the Occupancy Date for each Phase), and thereafter on the first day of each month during the Premises term (except as otherwise shown in Exhibit "D"), prorated for any portion of a month. The term "rent" includes base rent, additional rent and all other amounts to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable be paid by Tenant under the Master this Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)whether or not specifically described as rent. All rent will be paid without demand, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefordeduction, without deduction counterclaim or offset and without prior notice of any type (except as may be specifically provided otherwise elsewhere in this Lease) in lawful U.S. legal tender at The Plaza at Continental Park, Suite 5252, 2101 ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ ▇▇ to such other person or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase place as Landlord may from time to time based on increases in designate. Notwithstanding the foregoing, if and for so long as there is a mortgage loan encumbering the Premises or a loan that is secured by the Letter of Credit, at the written request of Landlord or Tenant, Landlord and Tenant will establish a collection account for the receipt and disbursement of base rent. In such event, Tenant, will pay the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due required each month into this collection account, and the collection agent promptly will disburse from such amount an amount sufficient to pay debt service and any other amounts owed to the mortgage lender and the lender of the loan secured by the Letter of Credit, with the balance being disbursed first to Tenant (but only if and to the extent necessary to pay current debt service to Tenant under the Master Lease, (aLC Note per Section 24.17(f) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable if any amounts are then owed under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor LC Note) and then to Master Lessor in connection with Sublessor’s exercise Landlord. The collection agent and the terms of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior this collection account will be subject to the expiration mutual written approval of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any Landlord and Tenant, which approval will be based on customary terms for such fees, costs, charges, penalties agreements and will not be unreasonably withheld or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentdelayed.
Appears in 1 contract
Sources: Lease (Picturetel Corp)
Rent. Sublessee 5.1 Tenant shall pay Sublessor to Landlord as rent Basic Annual Rent for the Premises (“Base Rent”) its pro rata share (based Premises, commencing on the ratio Rent Commencement Date, the sum set forth in Section 2.7, subject to the rental adjustments provided in Section 6 hereof. Basic Annual Rent shall be paid in equal monthly installments as set forth in Section 2.6, subject to the rental adjustments provided in Section 6 hereof, each in advance on the first day of each and every calendar month during the Term. The Rentable Area of the Premises shall be deemed the square footage of the Building for purposes of this Lease, including determination of Basic Annual Rent and any other costs allocated to Tenant on the basis of the square footage of the Premises or the Building.
5.2 In addition to the square footage of the Master Premises Basic Annual Rent, Tenant shall pay to Landlord as additional rent (its “Pro Rata ShareAdditional Rent”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master at times hereinafter specified in this Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share amounts of all operating expenses, taxes, insurance Insurance Costs and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease Taxes (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), each as defined below) and (b) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including, without limitation, any and all costs directly incurred other sums that may become due by reason of any default of Tenant or at failure on Tenant’s part to comply with the request agreements, terms, covenants and conditions of Sublessee with respect to its use of the Premises. All amounts required this Lease to be paid performed by Sublessee under this Sublease other than Base Tenant, after notice and the lapse of any applicable cure periods.
5.3 Basic Annual Rent and Additional Rent shall together be denominated “Rent.” Rent shall be deemed additional rentpaid to Landlord, without abatement, deduction or offset (except as expressly provided in this Lease), in lawful money of the United States of America at the office of Landlord as set forth in Section 2.13 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in that month and shall be paid at the then-current rate for such fractional month.
Appears in 1 contract
Sources: Lease (Zosano Pharma Corp)
Rent. Sublessee shall 3.1 Tenant agrees to pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based to Landlord, commencing on the ratio Commencement Date, the Annual Rent in effect from time to time by paying the Monthly Installment of Annual Rent then in effect on or before the first day of each full calendar month during the Term, except that the first month’s rent shall be paid upon the execution of this Lease. The Monthly Installment of Annual Rent in effect at any time shall be one-twelfth of the square footage Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Premises to the square footage Monthly Installment of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (Annual Rent based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within upon a thirty (30) days of delivery by Landlord of an invoice thereforday month. Said rent shall be paid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Landlord’s address, as set forth on the Reference Page, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the base extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent under the Master Lease. In addition, Sublessee shall pay, as and or any other sum is not paid when due under the Master and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) its Pro Rata Share Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges unpaid rent or other consideration paid or payable by Sublessor payment; provided, however, Landlord agrees to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under waive and forgive the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease first (it being understood that Sublessee shall have no obligation to pay any portion 1st) of any such feeslate charges arising during any twelve (12) consecutive months during the Term, costs, charges, penalties provided that Landlord receives such overdue rent or other consideration paid in connection with Sublessor’s exercise of any sum within ten (10) days after written notice from Landlord that such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use payment was not made when due. The amount of the Premises. All amounts required late charge to be paid by Sublessee under this Sublease other than Base Rent Tenant shall be deemed additional rentreassessed and added to Tenant’s obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Rent. Sublessee shall 4.1 Subject to the provisions of this Lease, commencing on the Commencement Date, Tenant agrees to pay Sublessor during the Term of this Lease as rent for the Premises Base Rent (“Base Rent”) its pro rata share (based on the ratio of the square footage of for the Premises the sums shown for such periods shown in Section 1.09. Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to the square footage of the Master Premises (its as “Pro Rata ShareRent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Base Rent shall be payable in equal monthly installments as set forth in Section 1.09 in advance on or before the first day of each and every calendar month during the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio Term without notice or demand. All other items of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Rent shall be due and payable within thirty (30) by Tenant on or before the date 30 days of delivery after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by wire transfer pursuant to an account designated by Landlord of an invoice thereforupon request or by other means acceptable to Landlord. Rent for any partial month during the Term shall be prorated. Notwithstanding anything herein to the contrary and provided that a Default has not occurred under this Lease, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Tenant’s obligation to time. Such pay Base Rent for months one (1) through seven (7) of the Initial Term (the “Abatement Period”) shall increase from be abated (the “Abated Monthly Base Rent”). Should a Default occur at any time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation Abatement Period, then Tenant’s right to pay any portion future abatement of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent pursuant to this Section 4.01 shall automatically terminate and shall be deemed additional rentof no further force and effect.
Appears in 1 contract
Sources: Lease Agreement (PagerDuty, Inc.)
Rent. Sublessee shall Effective the Rental Commencement Date, the Bank hereby covenants to pay Sublessor as to Landlord fixed guaranteed rent for in the Premises principal amount of THIRTY THOUSAND AND NO/100 DOLLARS (“Base Rent”$30,000.00) its pro rata share (based per year, payable in advance on a monthly basis on the ratio first day of each calendar month during the five (5) year term of this Agreement in equal installments of TWO THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($2,500.00). In addition to the fixed guaranteed rent set forth above, Tenant agrees to pay contemporaneously with the execution of this Lease the sum of TWENTY-TWO THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($22,500.00) as "Inducement Rent" for Landlord's agreement to enter into this Lease with Tenant. The fixed guaranteed rent and Inducement Rent shall be paid without demand, deduction, or setoff whatsoever, it being specifically agreed and understood that the covenant of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation Bank to pay fixed guaranteed rent and any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts changes required to be paid by Sublessee the Bank under this Sublease Agreement is a separate and distinct covenant of the Bank, not contingent upon the performance of any other than Base terms or conditions of this Agreement. Fixed guaranteed rent for any partial calendar month during the term of this Agreement shall be prorated on a per diem basis. As used in this Agreement, the term "Rent" or "rent" shall included fixed guaranteed rent, Inducement Rent, and any other additional charges or sums payable to Landlord hereunder. All Rent shall be deemed additional rentpaid to Landlord, without demand, deduction or setoff whatsoever, at Landlord's address first above written.
Appears in 1 contract
Rent. Sublessee 4.01 From and after the Commencement Date, Tenant shall pay Sublessor as rent Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent”) its pro rata share that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (but excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areasincome taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Additional Rent shall be due and payable within in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the first full calendar month shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or before thirty (30) days of delivery after billing by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to timeLandlord. Such Base Rent shall increase from time be made payable to time based on increases the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee in the base rent under amount of five percent (5%) of the Master Leasepast due amount. In addition, Sublessee past due Rent shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior accrue interest at a rate equal to the expiration lesser of (i) twelve percent (12%) per annum or (ii) the maximum legal rate, and Tenant shall pay Landlord a fee for any checks returned by Tenant’s bank for any reason. To ascertain whether any interest payable exceeds the legal limits imposed, any non-principal payment (including the administration fee) shall be considered to the extent permitted by Law to be an expense or a fee, premium or penalty, rather than interest. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no oldest obligation due from Tenant hereunder, then to pay any portion of current Rent then due hereunder, notwithstanding any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything statement to the contrary contained in this Sublease)on or accompanying any such payment from Tenant. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Any such partial payment shall be treated as a payment on account, and Landlord may accept such payment without prejudice to Landlord’s right to recover any balance due or to pursue any other remedy permitted by this Lease. Accordingly, Tenant hereby waives the provisions of California Uniform Commercial Code §3311 (and any similar Law that would permit an accord and satisfaction contrary to the provisions of this Section 4.01). No payment, receipt or acceptance of Rent following (a) any Default; (b) all costs directly incurred by the commencement of any action against Tenant; (c) termination of this Lease or at the request entry of Sublessee with respect to its use judgment against Tenant for possession of the Premises. All ; or (d) the exercise of any other remedy by Landlord, shall cure the Default, reinstate the Lease, grant any relief from forfeiture, continue or extend the Term, or otherwise affect or constitute a waiver of Landlord’s right to or exercise of any remedy, including Landlord’s right to terminate the Lease and recover possession of the Premises; provided, however, the full payment of all amounts required to be cure any monetary Default shall operate to cure said Default if paid by Sublessee within the time period provided under this Sublease Lease. Tenant acknowledges and agrees that the foregoing constitutes actual notice to Tenant of the provisions of California Code of Civil Procedure §1161.1(c). Tenant’s covenant to pay Rent is independent of every other than Base Rent shall be deemed additional rentcovenant in this Lease.
Appears in 1 contract
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within seven (7) days after due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) four percent (4%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Home Interiors & Gifts Inc)
Rent. Sublessee shall pay Sublessor The total Rent (as rent defined below) for the Premises initial Term of this Lease is set out in the Summary of Lease Terms and Defined Terms above (the “Base RentSummary”) its pro rata share (based ). Monthly payments of Rent are payable in advance, without demand, and in full without proration or setoff, on the ratio first day of each calendar month for the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts entire month and shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, paid at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases set forth in the base rent Summary or at such other place as Landlord may designate by advance written notice to Tenant. Rent may be paid by ePayment or other form of electronic payment (processing fees may apply), or by personal check or money order delivered to the address listed in the Summary. No payments to Landlord under the Master Leasethis Lease shall be paid in cash. In additionaccordance with the Lease and Title 55, Sublessee shall payChapter 13.2, Code of Virginia (1950), as and when amended (the “VRLTA”), “Rent” means all money, other than a security deposit, owed or paid to Landlord under this Lease, including prepaid Rent paid more than one month in advance of the Rent due date. Any fees, late penalties or other amounts that may be due under the Master Lease (other than Monthly Rent and any Security Deposits), shall be considered additional Rent due, and failure to pay any such amounts will be considered non-payment of Rent under this Lease, (aand Landlord may exercise its remedies under this Lease. All Rent received shall be applied to the oldest charge(s) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master first. When more than one Tenant has signed this Lease, but specifically excluding the Tenants are jointly and severally liable and responsible for all Rent and any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor payments made in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under this Lease. Landlord is authorized to accept prepaid Rent in accordance with the Master Lease to terminate the Master Lease prior to the expiration provisions of the then-scheduled term of VRLTA. Upon the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the written request of Sublessee Tenant, Landlord shall provide Tenant(s) with respect to its use an accounting of charges and payments in accordance with the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentVRLTA.
Appears in 1 contract
Sources: Lease Agreement
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the unpaid rent or other payment; provided that Tenant shall be entitled to a grace period of 5 days for the first late payments of Rent in any 12 month period before such late fee shall apply. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Notwithstanding anything in this Lease to the contrary, so long as Tenant is not then in default under this Lease following written notice thereof, Tenant shall be entitled to an abatement of Monthly Installment of Rent solely with respect to the Initial Premises for the first forty-five (45) days of the Term (the “Monthly Rent Abatement Period”), in the amount of $999.85 per day, which totals $44,993.03 (the “Abated Rent”). During the Monthly Rent Abatement Period, only Monthly Installment of Rent for the Initial Premises shall be abated as set forth above, and Tenant’s Proportionate Share of Expenses, Taxes and Insurance Costs for the Initial Premises, and all other costs and charges specified in this Lease, shall remain as due and payable pursuant to the provisions of this Lease, except to the extent expressly provided in Section 4.7 below.
Appears in 1 contract
Rent. Sublessee a. Tenant shall pay Sublessor Landlord, as rent rent, the following sums at the time stated herein ("Rent")": Based on Tenant's initial installation of the Tenant’s Tower Equipment and Ground Equipment, the Landlord leasing to Tenant, (i) space on the Water Tower for the Premises Tenant’s Tower Equipment and Ground Equipment, and (“Base ii) the Leased Premises, monthly rent of Two Thousand Three Hundred and No/100 Dollars ($2,300.00). The Rent shall be paid monthly in advance, with the first such monthly payment (prorated for any partial calendar month) due and payable within sixty (60) days of the Commencement Date.
b. The Rent shall be increased each year on the anniversary of the Commencement Date by two percent (2%).
c. If this Lease is terminated according to the terms of this Lease and ▇▇▇▇▇▇ has prepaid the Rent”) , the Tenant shall be entitled to a refund on a prorated, based on a thirty day month, as of the date of termination, if the termination of the Lease is for any reason other than nonpayment of Rent, or Tenant's default, provided that Tenant has removed all of Tenant’s Communication Facilities, as required by the terms of this Lease.
d. In addition to Rent, ▇▇▇▇▇▇ agrees to timely pay its pro rata share (of any real estate taxes based on the ratio Tenant’s Leased Premises or personal property taxes in lieu of real estate taxes, required by any governmental body having jurisdiction over the Property, as a result of this Lease, provided ▇▇▇▇▇▇ receives written notice of the square footage applicable taxes. Tenant shall have the right, at its sole option and at its sole cost and expense, to appeal, challenge or seek modification of any tax assessment or billing for which Tenant is wholly or partly responsible for payment. Landlord shall reasonably cooperate with Tenant at ▇▇▇▇▇▇’s expense in filing, prosecuting, and perfecting any appeal or challenge to taxes as set forth in the Premises preceding sentence, including, but not limited to, executing any consent, appeal or other similar document. If as a result of any appeal or challenge by ▇▇▇▇▇▇, there is a reduction, credit or repayment received by the Landlord for any taxes previously paid by Tenant, Landlord agrees to promptly reimburse to Tenant the square footage amount of that reduction, credit or repayment. If Tenant does not have the Master Premises standing rights to pursue a good faith and reasonable dispute of any taxes under this Section, ▇▇▇▇▇▇▇▇ will pursue that dispute at Tenant’s sole cost and expense upon written request of ▇▇▇▇▇▇.
e. Tenant shall pay Landlord within sixty (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (3060) days of delivery receipt of an itemized invoice, the following if not already paid by Tenant: (i) all actual engineering fees incurred by Landlord of an invoice therefor, without deduction or offset related to Plan Review and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as Structural Review (if any); and when due under the Master Lease, (aii) its Pro Rata Share of all operating expenses, taxes, insurance building and other costs payable under the Master Leasepermit fees (if any); and (iii) all actual attorneys’ fees including, but specifically excluding not limited to Lease preparation and negotiation; and (iv) other actual costs and expenses associated with any fees, costs, charges or other consideration required interference studies ("Landlord's Administrative Fees").
f. Tenant shall pay a late fee of One Hundred Dollars ($100.00) if the Rent is not paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise within fifteen (15) days of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration receipt of Landlord's written notice of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentmissed payment .
Appears in 1 contract
Sources: Communication Site Lease Agreement
Rent. Sublessee Tenant covenants and agrees to pay to Landlord at Landlord’s Address, or at such other addresses and to such other persons as Landlord may from time-to-time designate to Tenant in writing, the Base Monthly Rent. All installments of Rent, plus any other charges that may be due, are due and payable in advance, without demand, abatement reduction, recoupment, setoff or deduction, on the first day of each and every calendar month during the Lease Term commencing on the Commencement Date. If the Commencement Date occurs on a date other than the first day of a calendar month, or if the Expiration Date occurs on a date other than the last day of a calendar month, then the Base Monthly Rent of such fractional month shall pay Sublessor as rent for the Premises be prorated on a daily basis based upon a 30-day calendar month. Any payment of Base Monthly Rent or other charges or other sums due Landlord hereunder (“Base Additional Rent”) its pro rata share (based the Base Monthly Rent and Additional Rent being collectively referred to as the “Rent”) that is not received by Landlord on or before the ratio date that is three (3) days after the same is due and payable shall (i) be subject to a five present (5%) late payment fee to offset Landlord’s expense, Landlord Tenant Initials Initials delay and inconvenience in handling the late payment, or $50.00, whichever is greater, and (ii) bear interest from the date when due until paid at the lesser of eighteen percent (18%) per annum or the square footage maximum lawful rate of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areasinterest. Such amounts late payment fee and interest shall be due with the payment to which they relate. Tenant agrees to pay Landlord a $50 fee for each check returned for insufficient funds and payable within thirty (30) days of delivery by a $50 processing fee for each notice that Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time sends to time. Such Base Rent shall increase from time to time based on increases in the base Tenant concerning delinquent rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise violation of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentLease.
Appears in 1 contract
Sources: Office Lease Agreement (Health Insurance Innovations, Inc.)
Rent. Sublessee (a) Lessee covenants and agrees to pay to Lessor at its address set forth above or such other place as may be designated in writing by Lessor, monthly rent (the "Fixed Rent") in the amount specified on Exhibit B hereto. Lessee shall pay Sublessor as rent for all Fixed Rent to Landlord, in arrears, on or before the Premises first day of each and every calendar month during the Term (“Base Rent”commencing November 1, 1997) its pro rata share of this Lease without notice, by wire transfer or other electronic means (based or otherwise so there are collected funds available to Landlord on the ratio of due date). Lessor and Lessee acknowledge that so long as the square footage of Loan (as defined in the Premises Loan Agreement referred to below) is outstanding, all Gross Revenues, as defined in the square footage of the Master Premises Loan Agreement between Lessor and Nomura Asset Capital Corporation (its “Pro Rata Share”)"Nomura") of the rent payable under the Master Leasedated October __, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)1997, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due assigned and payable within thirty (30) days paid directly to Nomura's agent bank. Lessor and Lessee acknowledge that such Gross Revenues may in part be paid by transfer of delivery funds by Landlord Healthpartners Funding, L.P. or its successors as receivables lender to a Cash Collateral Account maintained on behalf of an invoice therefor, without deduction or offset and without prior notice or demand, at Nomura. To the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase extent the amount from time to time based paid shall exceed the Rent then due and reserves required by this Lease, Lessor agrees, subject to the terms of the Loan Agreement, to instruct Nomura and its agent bank to promptly remit such excess, at the express irrevocable instruction of and on increases behalf of Lessee, to Hampden Holding Group, Inc. Lessee agrees not to increase the maximum amount of accounts receivable borrowing presently authorized under its agreement with Receivables Lender and further agree not to enter into any other accounts receivable financing without the prior written consent of Nomura, which consent may be withheld in the base rent Nomura's sole discretion. Lessee shall be required to maintain reserves in an amount and for such purposes and times as are required of Lessor under the Master Lease. In additionLoan, Sublessee shall paysuch amounts to be held as provided in this paragraph 4(a).
(b) All amounts which Lessee is required to pay pursuant to this Lease (other than Fixed Rent, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs amounts payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration upon purchase of the then-scheduled term of the Master Lease Premises and amounts payable as liquidated damages pursuant to Paragraph 18), together with every fine, penalty, interest, and cost which may be added for nonpayment or late payment thereof, shall constitute additional rent (it being understood that Sublessee "Additional Rent"). If Lessee shall have no obligation fail to pay any portion of any such feesAdditional Rent, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves Lessor shall have the right to exercise any such express early termination right or option held by Sublessor under pay the Master Lease notwithstanding anything to the contrary contained in this Sublease)same and shall have all rights, powers, and (b) all costs directly incurred remedies with respect thereto as are provided herein or by or law in the case of nonpayment of Fixed Rent. Lessee shall pay to Lessor interest at the request rate of Sublessee with respect to its use of 12% per annum on all overdue Fixed Rent from the Premises. All amounts required to be due date thereof until paid, and on all overdue Additional Rent paid by Sublessee Lessor on behalf of Lessee from the date of payment by Lessor until repaid by Lessee. Lessee shall perform all its obligations under this Sublease other than Base Lease at its sole cost and expense, and shall pay all Fixed Rent shall be deemed additional rentand Additional Rent when due, without notice or demand.
Appears in 1 contract
Sources: Lease Agreement (G&l Realty Corp)
Rent. Sublessee (a) Tenant shall pay Sublessor as to Landlord rent for (the Premises (“"Base Rent”") its pro rata share (based for each Property in the amounts specified for such Property on Exhibit A attached hereto, as may be amended by the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing parties from time to time. Such Each monthly installment of the Base Rent shall increase from time be paid (i) to time based Landlord in advance on increases the first day of each calendar month during the Term and (ii) at the office of Landlord or such other place as Landlord may designate. Should the Commencement Date fall on any day other than the first day of a month, then the Base Rent for such month shall be pro-rated on a per diem basis, and Tenant shall pay the amount thereof for such partial month on the Commencement Date. With reasonable prior notice to Tenant, Landlord shall have the right to require the payment of Base Rent on an annual, quarterly or other basis with such new payment structure commencing on the date specified in the base rent under the Master Lease. In addition, Sublessee Landlord's notice.
(b) Tenant shall pay, as additional rent, all costs and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor expenses incurred in connection with Sublessor’s exercise use, ownership, maintenance, operation or repair of each Property (including, without limitation, (i) the cost of electric, gas, water, sewer, heating, air-conditioning and other utility services and (ii) all real estate taxes, assessments and business improvement charges). Such additional rent shall be paid, prior to delinquency, to the entities entitled thereto. Tenant may contest in good faith the amount or validity of any termination right real estate tax, assessment or option business improvement charge; provided, that Sublessor may have under such contest (1) shall not subject Landlord to any liability, create any lien against the Master Lease applicable Property or pose an imminent threat to terminate title of such Property, (2) is not prohibited by Landlord's lenders and (3) suspends the Master Lease prior to the expiration collection of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such feesapplicable tax, costs, charges, penalties assessment or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premisescharge. All amounts required to be paid payable by Sublessee Tenant under this Sublease Lease, other than the Base Rent Rent, shall be deemed additional rentconstitute "Additional Rent."
Appears in 1 contract
Sources: Master Lease (Ap Eagle Finance Corp)
Rent. Sublessee shall 3.1 Tenant agrees to pay Sublessor as to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent (representing the charges due for the Premises month of February, 2006) shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Limelight Networks, Inc.)
Rent. Sublessee shall In consideration of this lease, Tenant promises and agrees to pay Sublessor landlord the Basic Rental without deduction or setoff except as rent herein provided for each month of the entire Lease Term. Rent due for the Premises (“Base Rent”) its pro rata share (based on the ratio period beginning 12/15/94 11/30/95 shall be payable by Tenant to Landlord one half upon lease execution and one half upon commencement of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)Lease Term. See also Section 40.1. and a monthly installment as outlined in Section 1(e) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days without demand beginning on the first day of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to calendar month following the expiration of the then-scheduled term first full calendar month of the Master Lease Term and continuing thereafter on or before the first day of each succeeding calendar month during the term hereof. Rent for any fractional month at the beginning of the Lease Term shall be prorated based on one three hundred sixtieth (1/360) of the current annual basic rent for each day of the partial month this lease is in effect and shall be due and payable upon written notice from Landlord to Tenant. In the event any installment of the Basic Rental, or any other sums which become owning by Tenant to Landlord under the provisions hereof are not received within five (5) days after the due date thereof (without in any way implying Landlord's consent to such late payment). Tenant, to the extent permitted by law, agrees to pay, in addition to said installment of the basic rental or such other sums owed, a late payment charge equal to ten percent (10%) of the installment of the Basic Rental or such other sums owed. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to the provisions of this lease, it being understood that Sublessee such sums shall have no obligation bear interest, which Tenant hereby agrees to pay any portion of any such feesto Landlord, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request maximum rate of Sublessee with respect to its use of the Premises. All amounts required interest permitted by law to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentcharged Tenant for the use or forbearance of such money.
Appears in 1 contract
Rent. Sublessee shall The tenant will pay Sublessor as the landlord a monthly rent of - for the duration. The rent will be payable in advance and due on the day of each month for the duration. The first rent payment is payable to the landlord when the tenant signs this agreement. The rent for any period during the Premises (“Base Rent”) its period that is less than one month will be a pro rata share part of the monthly payment. Rent will be paid to the landlord at the landlord's address provided below (based or at other locations directed by the landlord) by mail or in person by one of the following methods: and will be payable in U.S. dollars. Warranty. Located in the 'o'e-guarantor' promises to guarantee the landlord unconditionally, Full payment and performance by the tenant of all financial obligations arising from this agreement. The guarantor undertakes to meet his obligations with the tenant for the financial obligations and obligations of the tenant under this agreement, including rent, damages, costs and costs. The guarantor further agrees that this guarantee will remain in force and that it will be binding on the ratio guarantor until the end of this agreement. Late fees. The rent paid after the day - each month will be considered late; and if the rent is not paid within days of that due date, the tenant agrees to pay a late fee of the square footage of extra rent. There may be cases under this agreement where the Premises tenant may be required to pay additional fees to the square footage landlord. All of these fees are considered additional rent under this agreement and will be paid with the Master Premises (its “Pro Rata Share”)) of next regular rent payment. The landlord has the rent payable under same rights and the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on tenant has the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease same obligations with respect to the Shared Areasadditional rent as with the rent. Such amounts shall Utilities. The tenant is responsible for the payment of all utilities and other services for the premises. Deposit. When this agreement is signed, the tenant will pay a security deposit of $1.00 to the landlord. The security deposit will be due retained by the landlord as a guarantee for the tenant's performance of its obligations under this agreement. The security deposit cannot be used or deducted by the tenant since the last month's rent of the clause. The tenant will be entitled to a full refund of the security deposit if the tenant returns ownership of the premises to the landlord on the same condition as the accepted regular wear and payable within thirty tear. In the days that apply to the termination of this agreement, the landlord will return the security deposit to the tenant (30) days minus the applied by the landlord in accordance with this section). Any reason to keep part of delivery the security deposit will be explained in writing. The security deposit will not carry interest when held by Landlord the landlord in accordance with applicable state laws and/or local ordinances. The owner's failure to give possession. In the event that the landlord is to give the tenant possession of the premises on the start date of term, the landlord will not be subject to liability for such an invoice thereforomission, without deduction or offset the validity of this agreement will not be affected and without prior notice or demandthe duration will not be extended. The tenant will not be responsible for the rent until the landlord has given possession of the premises to the tenant. Holding rental. Unless this agreement has been extended by a mutual written agreement of the parties, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases there will be no deference in the base rent under course of the Master Leaseclause beyond the terms of this agreement. If it becomes necessary to take legal action to remove the tenant from the premises, the existing party will be entitled to legal fees and fees in addition to damages. Use of premises. The premises will only be occupied by the immediate family of the tenant and tenant and used only for residential purposes. The tenant will not engage in any wrongdoing, including behaviour that will make the premises less able to live, cause dangerous, dangerous or unsanitary conditions, or interfere with the rights of others to enjoy their property. The tenant will be responsible for any damage to the premises and any damage or loss of their contents that is caused by the guests or guests of the tenant or tenant. State of play. The Tenant has reviewed the premises, including appliances, appliances and furniture, and recognizes that they are in good condition and repair, except normal wear and accepts them in its current condition. Maintenance and repairs. The tenant will maintain the premises, including the grounds and all appliances, accessories and furniture, in good condition and in good condition. The tenant will not remove appliances, appliances or furniture from the landlord for any purpose. If repairs other than general maintenance are required, the tenant will notify the landlord for such repairs. In additionthe event of a default by the tenant, Sublessee shall paythe tenant will reimburse the landlord for the cost of repairs or replacement. Reasonable accommodations. The landlord agrees to comply with all applicable laws that provide equal housing opportunities, as and when due under including the Master Leaseability to accommodate reasonable physical or mental limitations known to eligible persons with disabilities, (a) its Pro Rata Share unless this results in undue hardship. The tenant is responsible for making the landlord aware of all operating expensesthese required accommodations that are reasonable and will not impose undue hardship. If the tenant discloses a disability and requests accommodation, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves landlord has the right to exercise any such express early termination right or option held by Sublessor under ask a qualified health care provider to verify the Master Lease notwithstanding anything to disability if the contrary contained in this Sublease)disability is not obvious, and (b) all costs directly incurred by or at the request of Sublessee landlord has the right to use the caregiver qualified health to verify disability as a resource to provide reasonable accommodation. Sex Offender Registry. In accordance with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.law, information about
Appears in 1 contract
Sources: Lease Agreement
Rent. Sublessee 3.1 ▇▇▇▇▇▇ agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. ▇▇▇▇▇▇ therefore agrees that if rent or any other sum is not paid within 5 days of when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to ▇▇▇▇▇▇’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Phenomix CORP)
Rent. Sublessee 3.1 ▇▇▇▇▇▇ agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises (“Base Rent”) its pro rata share (based on the ratio execution of the square footage this Lease. The Monthly Installment of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)Rent in effect at any time shall be one-twelfth ( 1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. ▇▇▇▇▇▇ therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to ▇▇▇▇▇▇’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease Agreement (TherOx, Inc.)
Rent. Sublessee The Resident agrees to pay to Manager, in advance at the commencement date (the “Commencement Date”), which shall be the day Resident signs this Lease, and on the first day of every consecutive calendar month thereafter, by personal check, money order, or cashier’s check, the monthly installment of rent set forth on Schedule “A” attached hereto. It is agreed that at no time shall cash be accepted by Manager for payment of rent. Only payment by personal check, money order or cashier’s check will be accepted. No cash shall be paid to Manger. It shall be irrefutably presumed, for purposes of this Lease, that Resident has not paid rent or any of the charges due Manager unless Resident can produce a canceled check or money order proving payment. The rental reserved hereunder shall be payable without set-off, deduction or demand. Rent shall be payable at the offices of the Manager as set forth on Schedule “A,” or at such other place as Manager may at any time hereafter designate in writing to Resident. If a rental payment is not received by Manager by the end of the day on the 4th day after the date the rent is due, Resident shall accrue a late charge of $40.00 on the 4th day of the month and an additional late charge of $5.00 per day for every day thereafter in which the full rental amount plus any late and/or other charges remain unpaid. If Resident’s payment is returned to Manager unpaid for insufficient funds or account closed, or any other reason within the control of Resident, a service charge of $40.00 and thereafter at the option of Manager, all future rent and redemption of any such returned checks shall be payable by cashier’s check or money order only, throughout the balance of the Lease Term. In addition to all other amounts due Manager from Resident, Resident shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio all applicable tax, if any, with each installment of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under this Lease. All such late charges, bad check fees and any other amount(s) due Manager as set forth herein and elsewhere in the Master LeaseLease and/or by Addendum hereto, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage are deemed rent for purposes of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In additionUnless otherwise provided by applicable state statute, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessorresident’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with SublessorRent is an independent covenant and not conditional upon the performance by Owner’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee responsibilities under this Sublease other than Base Rent shall be deemed additional rentLease. UNLESS OTHERWISE PROVIDED BY LAW, RENT MAY NOT BE WITHHELD FOR ANY REASON, EVEN AN ACT OF GOD, OR TOREDUCE ANY RENT PAYABLE TO US BY ANY OF OUR COSTS OR DAMAGES AGAINST US.
Appears in 1 contract
Sources: Apartment Lease Agreement
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, except as expressly provided herein, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment; provided, however, that the foregoing late charge shall not apply to the first such late payment in any twelve (12) month period of the Term of this Lease or any extension thereto until following written notice to Tenant and the expiration of five (5) days thereafter without cure. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Notwithstanding anything in this Lease to the contrary, so long as Tenant is not in default under this Lease, Tenant shall be entitled to an abatement of Monthly Installment of Rent with respect to the Premises, as originally described in this Lease, in the amount of $101,138.40 (the “Abated Monthly Installment of Rent”) for the first three (3) full calendar months of the Term (the “Abated Rent Period”). If Tenant defaults under this Lease at any time during the Abated Rent Period and fails to cure such default within any applicable cure period under this Lease, then all Abated Monthly Installment of Rent shall immediately become due and payable. Only Monthly Installment of Rent shall be abated pursuant to this Section, as more particularly described herein, and Tenant’s Proportionate Share of Expenses and Taxes all other rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the provisions of this Lease.
Appears in 1 contract
Rent. Sublessee Section 4.1 Tenant shall pay Sublessor to Landlord, without notice, demand, offset or deduction, except as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio expressly provided herein, in lawful money of the square footage United States of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demandAmerica, at the address indicated by Sublessor Landlord's Address for Payment, or at such other place as Landlord shall designate in writing from time to time. Such : (a) the Base Rent and the Additional Rent in equal monthly installments, in advance, on the first day of each calendar month during the Lease Term, except that the first monthly installment of Base Rent and Additional Rent shall increase be paid in advance on the date of Tenant's execution of this Lease and applied to the first installments of Base Rent and such Additional Rent coming due under this Lease. If either the Commencement Date or the Expiration Date falls on a date other than the first day of a calendar month, the Rent due for such fractional month shall be prorated on a per diem basis between Landlord and Tenant so as to charge Tenant only for the portion of such fractional month falling within the Lease Term.
Section 4.2 If any Rent is not paid to and received by Landlord within five (5) days after the date it is due, and such late payment occurs more than once in any twelve (12) month period, Tenant shall pay to Landlord a late charge equal to four (4%) percent of the amount of the late payment or $100.00, whichever is more, in order to cover the agreed administrative expense and inconvenience to Landlord of processing and dealing with late payments. This late payment shall apply to the second and all subsequent late payments in any twelve (12) month period. In addition all delinquent payments of Rent shall bear interest until paid at a rate per annum (the "Interest Rate") equal to the greater of: (i) twelve percent (12%), (ii) two percent (2%) above the prime rate of interest from time to time based on increases in publicly announced by SunTrust Bank, Atlanta, Georgia, or any successor thereof, provided that if either Section 4.2(i) or (ii) or both is at any time greater than the base rent maximum rate permitted under applicable law, the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Interest Rate shall be deemed additional rentthe maximum rate permitted under applicable law.
Appears in 1 contract
Sources: Lease Agreement (Teamstaff Inc)
Rent. Sublessee As used in this Lease, the term "Rent" shall pay Sublessor as rent for include: (i) the Premises (“Base Rent”; (ii) its pro rata share (based on the ratio Tenant's Percentage Share of the square footage of Operating Expenses paid or incurred by Landlord during the Premises calendar year; and (iii) all other amounts which Tenant is obligated to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable pay under the Master terms of this Lease, together with an amount equal . All amounts of money payable by Tenant to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Landlord shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and paid without prior notice or demand, deduction or offset. This Lease is intended to be a triple net lease, with all costs, expenses and charges (including the Operating Expenses) paid by Tenant except as otherwise specifically provided in subsection 10(b). Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any trust deed covering the Premises. Accordingly, if any installment of Rent or any other sums due from Tenant shall not be received by Landlord when due, Tenant shall pay to Landlord a late charge equal to six percent (6%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In addition, any amount which is not paid when due shall bear interest from the date due until the date paid at the address indicated by Sublessor in writing from time rate equal to time. Such Base Rent shall increase the Reference Rate announced from time to time based on increases in by the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, Bank of America plus five percent (a5%) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease"Interest Rate"), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
Appears in 1 contract
Sources: Sub Sublease (Computer Literacy Inc)
Rent. Sublessee (a) In consideration of this Lease, T▇▇▇▇▇ promises and agrees to pay Landlord the Rent, without demand, deduction or set off, on or before the first day of each month of the Term. The first such monthly installment of Rent shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based be payable by Tenant to Landlord on the ratio Lease Date and monthly installments of Base Rent shall thereafter be paid on or before the square footage first day of each subsequent calendar month during the Premises Term. In the event any installment of Rent is not received within ten (10) days after the due date thereof (without in any way implying Landlord’s consent to the square footage such late payment), unless other arrangements have been made between Landlord and Tenant, T▇▇▇▇▇ agrees to pay, in addition to said installment of the Master Premises Rent, a late payment charge equal to five percent (its “Pro Rata Share”)5%) of the rent payable under the Master Leaselate installment of Rent, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee said late payment charge shall have no obligation constitute liquidated damages (but shall not void the occurrence of a default or eliminate any of Landlord’s remedies therefor) and shall be for the purposes of reimbursing Landlord for the additional costs and expenses which Landlord presently expects to pay any portion incur in connection with the handling and processing of a late installment payment of Rent. Tenant and Landlord agree that the damages suffered by Landlord in the event of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise late payments are not capable of any such early termination right or optionbeing ascertained precisely, and that Sublessor reserves the right to exercise any foregoing amount constitutes a reasonable and good faith estimate by the parties of the extent of such express early termination right or option held by Sublessor under the Master damages. Notwithstanding anything in this Lease notwithstanding anything to the contrary contained in this Subleasecontrary, all amounts payable by Tenant to Landlord as Rent shall constitute rent for the purpose of Section 502(b)(7), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use as it may be amended, of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentBankruptcy Code (defined below).
Appears in 1 contract
Sources: Lease Agreement (Cellteck Inc.)
Rent. Sublessee shall In consideration of this lease, Tenant promises and agrees to pay Sublessor as rent Landlord the Basic Rental without deduction or setoff, for the Premises (“Base Rent”) its pro rata share (based on the ratio each month of the square footage entire Lease Term. One such monthly installment shall be payable by Tenant to Landlord contemporaneously with the execution of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Leasethis lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts and a like monthly installment shall be due and payable within thirty (30) days without demand beginning on the first day of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to calendar month following the expiration of the then-scheduled term first full calendar month of the Master Lease Term and continuing thereafter on or before the first day of each succeeding calendar month during the term hereof. Rent for any fractional month at the beginning of the Lease Term shall be prorated based on one three hundred sixtieth (1/360) of the current annual basic rent for each day of the partial month this lease is in effect and shall be due and payable upon written notice from Landlord to Tenant. In the event any installment of the Basic Rental, or any other sums which become owning by Tenant to Landlord under the provisions hereof are not received within five (5) days after the due date thereof (without in any way implying Landlord's consent to such late payment). Tenant, to the extent permitted by law, agrees to pay, in addition to said installment of the basic rental or such other sums owed, a late payment charge equal to ten percent (10%) of the installment of the Basic Rental or such other sums owed. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to the provisions of this lease, it being understood that Sublessee such sums shall have no obligation bear interest, which Tenant hereby agrees to pay any portion of any such feesto Landlord, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request maximum rate of Sublessee with respect to its use of the Premises. All amounts required interest permitted by law to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentcharged Tenant for the use or forbearance of such money.
Appears in 1 contract
Rent. Sublessee a. Tenant shall pay Sublessor each monthly installment of Base Rent in advance on the first calendar day of each month. During the Base Year, no Excess Operating Costs (as rent for defined in Section 3.3 below) shall be paid by Tenant. For each calendar year following the Premises (“Base Year, Tenant shall pay each monthly installment of Tenant's Pro Rata Share of Excess Operating Costs in advance together with each monthly installment of Base Rent”) its pro rata share (. Monthly installments for any fractional calendar month, at the beginning or end of the Lease Term, shall be prorated based on the ratio number of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Leasedays in such month. Base Rent, together with an amount equal all other amounts payable by Tenant to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)Landlord under this Lease, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts including, without limitation, any late charges and interest due Landlord for Rent not paid when due, shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforsometimes referred to collectively as "RENT". Tenant shall pay all Rent, without deduction or offset and without prior notice set-off, to Landlord or demandManaging Agent at a place specified by Landlord. Rent not paid when due shall bear interest until paid, at the address indicated rate of two percent (2%) per month, or at the maximum rate allowed by Sublessor law, whichever is less, from the date when due. Tenant shall also pay a processing charge of Fifty Dollars ($50.00) with each late payment of Rent. Landlord agrees to waive the processing and interest charge for late payments of Rent once during any calendar year during the Lease Term, provided any such late Rent payment is paid in writing full within ten (10) days of the date when due. Nothing contained in this paragraph shall be deemed to prohibit Tenant from time being able to time. Such credit excess Allowance (as defined in SCHEDULE 6) to Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior hereunder to the expiration extent permitted under Paragraph 3.05 of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding SCHEDULE 6.
b. Notwithstanding anything to the contrary contained in this Sublease)herein, Landlord agrees to ▇▇▇▇▇ Base Rent for (i) the first three (3) months and eighteen (18) days of the first year of the Lease Term, and (bii) all costs directly incurred by or at the request of Sublessee with respect to its use first month of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentsecond year of the Lease Term.
Appears in 1 contract
Sources: Lease Agreement (Pc Tel Inc)
Rent. Sublessee The Base Rent (specified in Section 1.1 hereof) and any additional rent or other charges payable pursuant to this Lease (collectively or individually, "Rent"), shall pay Sublessor as rent for be payable by the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises Tenant to the square footage of Landlord at Landlord's mailing address or such other place as the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase may from time to time based on increases designate by notice to the Tenant without prior demand therefore and without any offset or deduction whatsoever except at otherwise specifically provided for in the base rent under the Master this Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, .
(a) its Pro Rata Share The Rent shall be payable in advance on the first day of all operating expenses, taxes, insurance each and other costs payable under every calendar month during the Master term of this Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor except as otherwise provided in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and Subsection (b) all costs directly incurred by or of this Section 4.1.
(b) The Rent for the first calendar month of the Lease Term is due and payable at the request time of Sublessee with respect to its use execution and delivery of the PremisesLease. All amounts required If the Commencement Date occurs on a day other than the first day of a calendar month, the Tenant shall pay to the Landlord on the first day of the succeeding calendar month a pro rata payment of Rent for the Partial month from the Commencement Date to the first day of the succeeding calendar month. Such payment, together with the payment made by the Tenant upon execution and delivery of the Lease, shall constitute payment for the first full calendar month of the Lease Term plus the partial month, if any, immediately following the Commencement Date.
(c) Rent for any partial month shall be paid by Sublessee under this Sublease the Tenant to the Landlord at such rate on a pro rata basis. Other charges payable by the Tenant on a monthly basis, as hereinafter provided, shall likewise be prorated.
(d) Rent, additional rent and any other than Base Rent sums due hereunder not paid on the date shall be deemed additional rentbear interest at the rate of 1% per month or fraction thereof (or at any lesser maximum legally permissible rate) from 5 days past the due date until paid.
Appears in 1 contract
Sources: Lease (Industrial Imaging Corp)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary. all amounts and sums payable by Tenant to Land lord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Franklin Wireless Corp)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first month's rent shall pay Sublessor as rent for be paid upon the Premises (“Base Rent”) its pro rata share (based on the ratio execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth of the square footage Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Premises to the square footage Monthly Installment of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (Rent based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within upon a thirty (30) days of delivery by Landlord of an invoice thereforday month. Said rent shall be paid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Landlord's address, as set forth on the Reference Page, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the base extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent under the Master Lease. In addition, Sublessee shall pay, as and or any other sum is not paid when due under the Master and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease Fifty Dollars (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease$50.00), and or (b) all costs directly incurred by or at the request of Sublessee with respect a sum equal to its use five percent (5%) per month of the Premisesunpaid rent or other payment. All amounts required The amount of the late charge to be paid by Sublessee under this Sublease other than Base Rent Tenant shall be deemed additional rentreassessed and added to Tenant's obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 18 in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Globecomm Systems Inc)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each foil calendar month during the Term, except that the first foil month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a foil month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing. Unless specified in this Lease to the base rent under the Master Lease. In additioncontrary, Sublessee shall pay, as all amounts and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or sums payable by Sublessor Tenant to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Landlord pursuant to this Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within five (5) days of when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) five percent (5%) of the unpaid rent or other payment. Notwithstanding the foregoing, Landlord agrees not to charge such late fee the first two times in any twelve (12) month period during the Term Tenant is late with such payment until Landlord has given Tenant written notice of its failure to pay and Tenant has failed to pay such amount within five (5) days thereof. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Acutus Medical, Inc.)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The late charge shall be waived if Tenant's payment is late due to forces beyond reasonable control of the Tenant. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Office Lease (Biotel Inc.)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease Agreement (LogMeIn, Inc.)
Rent. Sublessee To pay the Landlord in advance the collective rent of: £… Each and every quarter from the date of commencement of the tenancy and as set out in the schedule provided. To pay the rent by the due date in the agreement each quarter. The method of payment is by standing order only, which should be set up for 3 days in advance of the due date to allow for clearance through the banking system. If a summer retainer has been agreed an adjustment has been made in the schedule to allow for this and it will be noted at the end of this agreement. This is a collective rent agreement and if more than one signs the agreement each and every one shall pay Sublessor as rent be responsible joint y and severally for the Premises (“Base Rent”) its pro rata share (based on whole rent until the ratio end of the square footage term of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to ag eeme t. Tenants who vacate before the expiration of the then-scheduled term of shall sti l remain liable for the Master Lease (it being understood that Sublessee shall have no obligation to pay rental term and forfeit any portion of any such fees, costs, charges, penalties or other consideration rent paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor deposit. The Landlord reserves the right to exercise determine the tenancy with one months notice in writing, if the rent or any such express early termination right part thereof shall be in arrears for 14 days after the same has become due whether legally demanded or option held by Sublessor not or if there shall be a breach of any of the obligations on the part of the Tenant/s or if the Tenant/s s all become bankrupt or enter into liquidation or compound with his creditors or if any of the grounds listed in schedule 2 of the Housing ▇▇▇ ▇▇▇▇ as amended under the Master Lease notwithstanding anything Housing ▇▇▇ ▇▇▇▇ and the provisions for the recovery of possession by the landlord in section 21 thereof apply accordingly, the Landlord may re]enter the premises or any par thereof in the name of the whole and immediately thereupon the tenancy shall absolutely determine without prejudice to his/her rights to immediately recover all unpaid collective rent until the contrary contained in this Sublease)end of the term of the tenancy agreement and all legal and admin costs, including interest incurred or any other rights and (b) all costs directly incurred by or remedies of the Landlord. After 14 days and from the due date an interest rate of five per cent per annum ab ve base rate prevailing at the request time of Sublessee with respect to its use of the Premises. All amounts required to Barclays Bank Plc will be paid by Sublessee added for any sum payable under this Sublease other than Base Rent shall be deemed additional rentagreement that is not paid on its due date.
Appears in 1 contract
Sources: Assured Shorthold Tenancy Agreement
Rent. Sublessee shall 3.1 Tenant agrees to pay Sublessor as rent for to Landlord the Premises (“Base Rent”) its pro rata share (based Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the ratio first day of each full calendar month commencing on July 1, 1997 and continuing through the remainder of the square footage Term, except that the first month's rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one- twelfth of the Premises to Annual Rent in effect at such time. Rent for any period during the square footage Term which is less than a full month shall be a prorated portion of the Master Premises (its “Pro Rata Share”)) Monthly Installment of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (Rent based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within upon a thirty (30) days of delivery by Landlord of an invoice thereforday month. Said rent shall be paid to Landlord, without deduction or offset (except as may be expressly provided herein) and without prior notice or demand, at the address indicated by Sublessor in writing from time Landlord's address, as set forth on the Reference Page, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the base extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent under or any other sum is not paid within five (5) days after the Master Lease. In addition, Sublessee shall pay, as and date when due under the Master and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease Fifty Dollars (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease$50.00), and or (b) all costs directly incurred by or at the request of Sublessee with respect a sum equal to its use five percent (5%) of the Premisesunpaid rent or other payment. All amounts required The amount of the late charge to be paid by Sublessee under this Sublease other than Base Rent Tenant shall be deemed additional rentadded to Tenant's obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Gamestop Corp)
Rent. Sublessee shall Section 3(a) is deleted in its entirety and replaced with the following:
(a) Tenant agrees to pay Sublessor to Landlord as and for rent for the Premises Facilities the sum of NINE HUNDRED THOUSAND and NO/100 DOLLARS (“Base Rent”$900,000.00) its pro rata share (based per annum which sum shall be payable on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts a semi-annual basis and which shall be due upon the first day of the term hereof and thereafter upon the first day of each semi-annual period of the term of this Lease. Said rent shall be payable within thirty (30) days of delivery in cash or by wire transfer at Landlord’s address given hereinbelow or at such other place as Landlord of an invoice thereformay, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases , designate in the base rent under the Master Leasewriting. In additionthe event Tenant shall fail to pay Landlord any part of the aforesaid rental or any other sum required herein to be paid to Landlord, Sublessee within five (5) days of the due date thereof, Tenant shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor pay to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to Landlord a delinquent payment charge from the expiration of such five (5) day period until the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties rental or other consideration required sums are fully paid in connection with Sublessor’s exercise at the rate of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by 18% per annum or at the request highest lawful contract rate allowed by the State of Sublessee Ohio, whichever is lower.” This Second Amendment modifies the Lease to the extent stated herein only. In any case of inconsistency between the Lease and this Second Amendment, this Second Amendment shall control. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Lease and all other provisions and covenants of the Lease shall remain in full force and effect. The Lease, the First Amendment and this Second Amendment represent the entire agreement of the parties as to the subject matter hereof and neither party has made or relied upon any representations, warranties, promises, covenants or undertakings with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease such subject matter other than Base Rent shall be deemed additional rentthose expressly set forth herein.
Appears in 1 contract
Sources: Lease and Sublease (Andersons, Inc.)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by paid to Landlord of an invoice thereforin cash or other readily available funds, without deduction or offset offset, except as otherwise expressly provided in Section 7.5 of this Lease and without prior notice or demand, at the Rent Payment Address set out in the Reference Pages or wire transferred to Landlord pursuant to the wiring instructions set forth on the Reference Pages (or to such other address indicated by Sublessor in writing from time or pursuant to time. Such Base Rent shall increase such other wiring instructions as Landlord may from time to time based on increases designate in writing). Unless specified in this Lease to the base rent under the Master Lease. In additioncontrary, Sublessee shall pay, as all amounts and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or sums payable by Sublessor Tenant to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Landlord pursuant to this Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within five (5) business days after written notice that it was not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) three percent (3%) of the unpaid rent or other payment (provided, however, that if late payment notice shall be given on two (2) or more occasions within any twelve (12) month period, then commencing with the date of the second such notice and continuing for twelve (12) months thereafter, the late charge under this Section 3.2 shall be applicable immediately upon any subsequent failure to pay any rent or other sum due under this Lease, without necessity of any prior notice). The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Any rent, expense reimbursements, tax reimbursements and other sums required to be paid under this Lease and not paid within five (5) business days after written notice that it was not paid when due and payable pursuant to this Lease (including all late charges and attorneys’ fees) shall bear interest, until paid, at the lesser of the following rates: (i) 10% per annum; or (ii) the highest rate allowed under applicable law (provided, however, that if late payment notice shall be given on two (2) or more occasions within any twelve (12) month period, then commencing with the date of the second such notice and continuing for twelve (12) months thereafter, the interest under this Section 3.3 shall begin to accrue immediately upon any subsequent failure to pay any rent or other sum due under this Lease, without necessity of any prior notice). All agreements between Landlord and Tenant, whether now existing or hereafter arising, whether herein contained or in any other instrument or agreement, whether written or oral, are hereby expressly limited so that in no contingency or event whatsoever shall any acceleration of rents due, late charges, returned check charges, interest charges, or any other charges whatsoever, be deemed as interest charged, contracted for or received in excess of the amount permitted under applicable law, it particularly being the intention of the parties hereto to conform strictly to the laws of the State of Texas. Any portion of such charges which are deemed as interest in excess of the amount permitted under applicable law, as of the date such charge is due, shall be applied to a reduction of the rental payment next coming due hereunder, or, if such portion of charges exceeds the rental payment next coming due hereunder, such amount shall be refunded to Tenant. To the extent permitted by law, determination of the legal maximum amount of interest shall at all times be made by amortizing, prorating, allocating, and spreading in equal parts during the period of the full term of this Lease, all amounts deemed as interest at any time contracted for, charged or received from Tenant in connection with this Lease.
Appears in 1 contract
Sources: Lease Agreement (KBS Real Estate Investment Trust III, Inc.)
Rent. Sublessee shall (a) The Tenant agrees to pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage Landlord, at the Landlord’s office or such place as directed in writing form time to time by the Landlord: For the Rented Premises per: $ PLUS for Parking: $ PLUS for Storage/locker: $ PLUS for Additional Appliances per month: $ Total Monthly Rental payable in advance: $ Cash will not be accepted as payment for rent. Payment must be remitted by pre-approved payment. The Monthly Rental of the Master Premises $ (its “Pro Rata Share”)CANADIAN DOLLARS) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days on the 1ST day of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration each month for a period of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation Tenancy commencing ending Rental cheques are payable to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with SublessorRichcraft Rental Limited Partnership. First and last’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required months’ rent to be paid in advance upon completion or date of occupancy, whichever comes first.
(i) The Tenant hereby acknowledges and agrees that any late payment of rent may be recorded at the direction of the Landlord with any credit agency or credit bureau.
(c) (ii) And further provided that if the Monthly Rental is paid by Sublessee under this Sublease other than Base Rent cheque or by pre-approved payment is not honoured by the Tenant’s bank, the Tenant shall be deemed additional pay the Landlord, in addition to the rent, the sum of Forty Dollars ($40.00) as a service and administrative charge. If a second payment is not honored, the Tenant shall pay the Landlord, in addition to the rent, the sum of Ninety Dollars ($90.00). If a third payment is not honored, the Tenant shall pay the Landlord, in addition to the rent, the sum of One Hundred and Fifty Dollars ($150.00) and the Landlord may pursue to file with the Landlord and Tenant board for eviction. For any non-payment, the Landlord may require the Tenant to make any or all subsequent payments of rent by money order or certified cheque.
6. DEPOSIT
Appears in 1 contract
Sources: Lease Agreement
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($500.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or Other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease Agreement (Immudyne, Inc.)
Rent. Sublessee As used in this Lease, the term "Rent" shall pay Sublessor as rent for include: (i) the Premises (“---- Base Rent”; (ii) its pro rata share (based on the ratio Tenant's Percentage Share of the square footage of Operating Expenses paid or incurred by Landlord during the Premises calendar year; and (iii) all other amounts which Tenant is obligated to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable pay under the Master terms of this Lease, together with an amount equal . All amounts of money payable by Tenant to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Landlord shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and paid without prior notice or demand, at deduction or offset. This Lease is intended to be a triple net lease, with all costs, expenses and charges (including the address indicated Operating Expenses) paid by Sublessor in writing from time Tenant. Tenant hereby acknowledges that late payment by Tenant to timeLandlord of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be difficult to ascertain. Such Base costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any trust deed covering the Premises. Accordingly, if any installment of Rent or any other sums due from Tenant shall increase not be received by Landlord when due, Tenant shall pay to Landlord a late charge equal to six percent (6%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from time to time based on increases in exercising any of the base rent under the Master Leaseother rights and remedies granted hereunder. In addition, Sublessee shall pay, as and any amount which is not paid when due under shall bear interest from the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under date due until the Master Lease, but specifically excluding any fees, costs, charges or other consideration date paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request rate ("Interest Rate") which is the lesser of Sublessee with respect to its use of fifteen percent (15%) per annum or the Premises. All amounts required to be paid maximum rate permitted by Sublessee under this Sublease other than Base Rent shall be deemed additional rentlaw.
Appears in 1 contract
Sources: Sublease (Ibeam Broadcasting Corp)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within thirty (30) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Knology Inc)
Rent. Sublessee 4.01. Tenant shall pay Sublessor as rent Landlord in lawful money of the United States of America, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Premises Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent”) its pro rata share that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (but excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areasincome taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Additional Rent shall be due and payable within thirty (30) days in advance on the first day of delivery by Landlord of an invoice therefor, each calendar month without deduction or offset and without prior notice or demand, at . All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. All payments of Rent shall be made by electronic money transfer in accordance with Landlord’s written instructions regarding the address indicated same or by Sublessor such other means or method of payment as Landlord may direct in writing. Unless otherwise notified in writing from time to time. Such Base by Landlord, all payments of Rent shall increase from time be made by ACH transfer to time based on increases Landlord in accordance with the following: Bank: PNC Bank, Bank Address: ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Account Name: Equity Commonwealth, ABA Routing #: ▇▇▇▇▇▇▇▇▇, Account#: 8026300702, Reference: CBRE 604274. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee in the base rent under amount of five percent (5%) of the Master Leasepast due Rent, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 4 late payments of Rent in a calendar year. In addition, Sublessee past due Rent shall payaccrue interest at a rate (the “Interest Rate”) per annum equal to the lesser of (i) the maximum legal rate permitted by applicable Laws, and (ii) 4 percentage points above the rate of interest then most recently publicly announced by a federally insured bank selected by Landlord as and when due under its “prime rate” or “base rate” (the Master Lease“Prime Rate”) until paid in full, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under including after the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise entry of any termination right judgment. If accrual or option that Sublessor may have under payment of interest at the Master Lease to terminate Interest Rate should be unlawful, then the Master Lease prior to Interest Rate shall be the expiration maximum legal rate. Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no oldest obligation due from Tenant hereunder, then to pay any portion of current Rent then due hereunder, notwithstanding any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything statement to the contrary contained on or accompanying any such payment from Tenant and acceptance of any such partial payment shall not be deemed a waiver of Landlord’s right to the full amount due. Rent for any partial month during the Term shall be prorated based on the number of days in such month. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentLease.
Appears in 1 contract
Sources: Office Lease Agreement (Baxalta Inc)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises (“Base Rent”) its pro rata share (based on the ratio execution of the square footage this Lease. The Monthly Installment of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)Rent in effect at any time shall be one-twelfth ( 1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent after five (5) days of due date, or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Devax Inc)
Rent. Sublessee a. Tenant's liability for rent shall pay Sublessor commence to accrue on the commencement date as defined in paragraph 2(c) above, provided that this lease has not been terminated prior thereto. Rent is payable in advance. If the Commencement Date begins on a date other than the first of the month, the rent for such partial initial month shall be prorated, added to and paid with the Premises (“Base Rent”) its pro rata share (based rent due and payable on the ratio first day of the square footage first full calendar month of the Premises term hereof. The monthly rent to be paid by Tenant to Landlord shall be Six Thousand and No/100 Dollars ($6,000.00). Such rental shall be payable on the square footage first day of each calendar month during the term hereof.
b. All payments of rent hereunder shall be made to Landlord as the same become due in lawful money of the Master Premises (its “Pro Rata Share”)) United States, at such places as hereinafter may be designated. Nothing contained in this lease shall be construed to be or create a partnership or joint venture between Landlord and Tenant.
c. Landlord shall be responsible for the payment of real estate taxes assessed against the Demised Premises. In no event shall Tenant be liable for payment of any income, estate or inheritance taxes imposed upon the Landlord or the estate of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease Landlord with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master LeaseDemised Premises. In addition, Sublessee shall pay, as and when due under the Master event of any special assessment with respect to the Demised Premises levied during the term of this Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee Tenant shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use payment of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent such assessment and Landlord shall be deemed additional rentobligated to pay same. Notwithstanding the foregoing, Tenant shall be responsible for the payment of real estate taxes and other special assessments against the Demised Premises for any fiscal year(s) in which Tenant's gross sales revenues (defined as revenues from all business activities on the Demised Premises including, but not limited to, revenues from service, repair, arranging of financing, sales of boats, motors, accessories and trailers, but not including retail sales tax collected) exceeds Four Million Dollars ($4,000,000.00).
Appears in 1 contract
Rent. Sublessee ▇. ▇▇▇▇▇▇ shall pay Sublessor to the Lessor as rent during the term hereof the sum of ($ ) per month, payable monthly, in advance, beginning on the first (1st) day of , 20 , and on the first day of each and every month thereafter at the office of the Lessor set forth in Section 7.8, or at such other place as the Lessor may designate in writing. Failure to pay rent by the tenth (10th) day of the month shall obligate the Lessee to pay a late charge of ONE HUNDRED DOLLARS ($100.00) for each late payment. This sum is agreed to be a reasonable estimate of the Lessor's damages for late rental payments and shall not be construed as a penalty or a limitation on ▇▇▇▇▇▇'s remedies.
B. All rent shall be payable in current legal tender of the United States. Payment may be tendered by check, but payment shall not be deemed made until such check is honored by the drawee bank. The tender of payment by check within the time provided shall be deemed sufficient to meet any due date only if the check is honored by the drawee bank and Lessor receives the legal tender required by this Lease. Any dishonor and/or non-receipt shall constitute a default of this Lease.
C. The extension of time for the Premises (“Base Rent”) its pro rata share (based on payment of any installment of rent, or the ratio acceptance by ▇▇▇▇▇▇ of any money other than of the square footage kind herein specified, shall not be a waiver of Lessor’s right to insist on all other payments of rent to be made in the manner and at the time herein specified. The acceptance by the Lessor of a past due installment payment shall not waive Lessor's right as to any other default or breach of the Premises Lease.
D. The rent herein specified shall be net to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master LeaseLessor and such payment shall not be subject to any abatement, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demandoffset, at the address indicated by Sublessor except as otherwise provided in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master this Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, .
E. All taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise costs and expenses Lessee is required to pay hereunder, and all damages, costs and expenses Lessor may incur by reason of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use default of the Premises. All amounts required Lessee, or failure on the Lessee's part to be paid by Sublessee under this Sublease other than Base Rent comply with the terms of the Lease, shall be deemed additional rent and, in the event of nonpayment by ▇▇▇▇▇▇, Lessor shall have all the rights and remedies with respect thereto as Lessor has for nonpayment of basic rent.
Appears in 1 contract
Sources: Lease
Rent. Sublessee Section 2.1. Tenant shall pay Sublessor as rent for the Premises (“to Owner all Base Rent”) its pro rata share , without notice or demand (based except as otherwise expressly set forth in this Lease), in advance, in equal monthly installments, on the ratio first day of each calendar month during the Term. All Rent shall be paid (a) by good checks drawn on a bank that is a member of the square footage New York Clearing House Association L.L.C. (or any successor body of similar function) and in currency that at the Premises time of payment is legal tender for public and private debts in the United States of America, to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, Owner at the address indicated of Owner set forth in this Lease or to such other address or Person as Owner shall direct by Sublessor notice to Tenant received not less than forty-five (45) days prior to its effectiveness, or (b) at the election of Owner, by wire transfer of immediately available funds to a Person designated by Owner by notice to Tenant received not less than ninety (90) Business Days prior to its effectiveness. Tenant shall not be obligated to make any one payment by more than one (1) check or wire transfer. All Additional Rent shall be payable within twenty (20) Business Days after receipt by Tenant of demand therefor, unless other payment dates are expressly provided in writing from time to timethis Lease. Such Except as expressly set forth in this Lease, Base Rent shall increase from time to time based on increases be apportioned as of the Base Rent Commencement Date and Expiration of the Term.
Section 2.2. Except as expressly set forth in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, this Lease (a) its Pro Rata Share of all operating expensesBase Rent shall be absolutely net to Owner, taxes, insurance and other costs payable under the Master Lease, but specifically excluding without any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease)reduction, and (b) Tenant shall pay all costs directly incurred costs, expenses and charges of every kind relating to the Premises without any reduction; provided, however, Tenant shall not be required to pay any debt service on any indebtedness of Owner or any Owner Party, or any lien caused by Owner or at any Owner Party, which is not the request express obligation of Sublessee with respect to its use Tenant under this Lease. In the event of any Event of Default in the payment of Rent, Owner shall have all the rights and remedies provided for in this Lease or by law or equity in the case of the Premises. All amounts required to be paid by Sublessee under this Sublease other than nonpayment of Base Rent shall be deemed additional rentRent.
Appears in 1 contract
Sources: Sublease (Jetblue Airways Corp)
Rent. Sublessee shall The tenant will pay Sublessor as the Landlord a monthly rent for the Premises (“Base Rent”) its term. The rent will be paid in advance and must be paid on the day of each month during the term. The first rent payment is paid to the landlord when the Tenant signs the agreement. Rent for any period during the term less than one month will be a pro rata share (based on the ratio part of the square footage monthly fee. The rent will be paid to the landlord at the landlord's address in this (or in other places as indicated by the landlord) by mail or in person one of the following methods: and will be paid in U.S. dollars. Guarantee. Located at: q, q, q (Garant) promises to guarantee the Landlord the full payment and fulfillment of all financial obligations and obligations arising from this Agreement. The Guarantor agrees to a joint and multiple obligations with the Tenant for the tenant's financial obligations and obligations under the Agreement, including rent, loss, fees and expenses. The Guarantee further agrees that the guarantee must remain fully valid and enforceable for the Guarantee until the Agreement is terminated. Late collection. Rents paid after the day of each month will be considered late; and if the rent is not paid within a few days of that period, the Tenant agrees to pay a late fee in the th. Additional rent. There may be cases under this agreement where the tenant may be required to pay additional costs to the landlord. All such fees are considered additional rent under this Agreement and will be paid with the next regular rent. The landlord has the same rights and the tenant has the same obligations regarding the additional rent as they do with the rent. Utilities. The tenant is responsible for paying for all utilities and other services for premises. Deposit. After the signing of this Agreement, the Tenant will pay the landlord a deposit of 1 euro. The deposit will be retained by the landlord as collateral for the tenant to fulfil its obligations under the Agreement. The deposit cannot be used or deducted by the tenant as the lease in last month Term.Tenant will be entitled to full collateral reimbursement if the tenant returns ownership of the Landlord in the same condition as customary wear is excluded. Within a few days of the termination of this Agreement, the Landlord returns the deposit to the Tenant (minus any amount applied by the Landlord under this section). Any reason for retaining part of the pledge will be explained in writing. The deposit will not incur interest from the Landlord in accordance with applicable state and/or local regulations. The landlord's inability to give possession. If the Landlord is unable to grant ownership of the Premises to the square footage tenant at the start of the Master Premises (its “Pro Rata Share”)) term, the landlord will not be liable for any liability for such a failure, the validity of the rent payable under Agreement will not be affected and the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on term will not be extended. The tenant will not be liable for the ratio of square footage lease until the landlord gives ownership of the Premises (excluding the Shared Areas) to the square footage tenant. Rent a holdover. If this Agreement is not renewed mutual written consent of the Master Premises (excluding Parties, the Shared Areas)Parties, the terms of this Agreement under all circumstances. If, if necessary, a lawsuit is initiated to remove the Tenant from the Premises, the prevailing Party will be entitled to attorney's fees and expenses in addition to the damages. Use Of The Premise. The premises will be occupied only by the next of kin of the rent payable under tenant and the Master Lease tenant and will be used only for residential purposes. The tenant will not engage in any undesirable behaviour, including behaviour that will make premises less livable, lead to dangerous, dangerous or unsanitary conditions, or will interfere with respect the rights of others to enjoy their property. The tenant is liable for any damage caused by the Shared AreasPremises and any damage or loss of its contents, which is done by the tenant or the tenant's guests or invited. Such amounts shall be due The State of The Prerequisites. The tenant has studied the premises, including appliances, fixtures and payable within thirty (30) days furniture, and admits that they are in good condition and repair, normal wear is excluded and takes them to its current condition. Maintenance and repairs. The tenant will maintain the Premises, including the grounds and all appliances, fixtures and furniture, in clean, sanitary and good condition and repair. The tenant will not remove household appliances, fixtures or landlord furniture from the Premises for any purpose. If repairs are required, in addition to general maintenance, the Tenant will notify the landlord of delivery by Landlord of an invoice thereforsuch repairs. If the tenant fails to meet the obligations, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in Tenant will reimburse the base rent under landlord for the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise cost of any termination right repair or option replacement. Reasonable accommodation. The landlord agrees to comply with all applicable laws that Sublessor may have under ensure equal housing opportunities, including the Master Lease to terminate provision of reasonable housing for known physical or mental disabilities of qualified persons with disabilities, unless undue difficulties are brought. The tenant is responsible for making sure that the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion landlord is aware of any such feesnecessary premises that are reasonable and will not impose undue hardship. If the tenant discloses a disability and asks for housing, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the Landlord has the right to exercise any such express early termination right or option held by Sublessor under have a qualified health care provider to check for disability if the Master Lease notwithstanding anything disability is not obvious, and the landlord is entitled to use a qualified provider of disability screening services as a resource to provide reasonable housing. Sex offenders registry. In accordance with the law, information on specific registered sex offenders is available to the contrary public. The tenant understands and agrees that the Tenant is fully responsible for obtaining any information contained in the state or national sex offender registry for the area surrounding premises that may be obtained online or by the local sheriff's department or other relevant law enforcement. Depending on the offender's criminal history, this Sublease)information will include either the address at which the offender resides or the code in which he or she lives. Match. The tenant agrees to comply with all applicable laws, regulations, requirements and (b) regulations of any federal, state, district, municipal or other authority. Mechanic Lien. The tenant understands and agrees that the Tenant and any person acting on behalf of the Tenant are not entitled to apply for the mechanic's liens or any other type of collateral on premises. The tenant agrees to give an actual advance notice to any contractors, subcontractors or suppliers of goods, labour or services that such collateral is invalid. The tenant also agrees to take additional measures to ensure that the premises are free of any collateral that may result from the construction completed by the tenant or for him. Subordination. As for the Preconditions, this Agreement is subject to any mortgage that currently exists, or may be granted later by the Landlord. Changes. The tenant will not make any changes, additions or improvements to the premises without first obtaining the landlord's written consent. Any changes, additions or improvements to the Premises are not payment to the tenant and will become the landlord's property immediately upon completion and will remain on premises if the landlord does not request or permit removal, in which case the tenant will return this part of the premises in the same condition as existed before the change, addition or improvement. The tenant will not change existing locks or install any additional locks on the Premises without first obtaining the landlord's written consent and without providing the Landlord with a copy of all costs directly incurred by or at the request keys. Smoking. Smoking of Sublessee with respect to its use any kind is strictly prohibited on either side of the Premises. All amounts This prohibition applies to the Tenant and any visitor, guest or other tenant in the Premises. Pets. The tenant is not allowed to have or keep any pets, even temporarily, on any part of the Premises. The unauthorized presence of any pet will subject the Tenant to fines, damages, deductions and/or termination of this Agreement. Properly trained service animals that provide assistance to the disabled may be allowed in the Premises with the landlord's prior written consent, which should not be unreasonably withheld. The tenant will be liable for the costs of de-fleas, deodorization and/or shampoo all or any part of the Premises if the pet has been on premises at any time during the term (whether with or without the landlord's written consent). Fire and accidents. If premises are damaged by a fire or other serious disaster or accident and Premises becomes uninhabitable as a result, the Tenant can immediately vacate the Premises and terminate it on the landlord's notice. The tenant will be responsible for any unpaid rent or will receive a prepayment of rent until the day of the fire, natural disaster or accident. If the premises are damaged and inhabited, the landlord can make a complete renovation and will do so a quick and reasonable amount of time. At the landlord's discretion, the rent may be reduced during the renovation. Responsibility. The landlord is not liable or liable for any loss, claim, damage or expense resulting from any accident, injury or injury of any person or property occurring anywhere on the Premises if resulting from negligence or wilful misconduct by the landlord. Tenant's insurance. The tenant is required to receive, and maintain at all times during the term, the tenant's insurance policy with a minimum of $100,000.00 personal liability coverage. The tenant will name the Landlord as the interested party or additional insured person. The tenant will provide the landlord with a certificate or proof of insurance on request. Appointment and subletting. The tenant will not assign this Agreement to any part or all of the Premises or to make or permit any full or partial subletting or other transfer of any part or all premises. Insurance requirements. The tenant will not do or be paid by Sublessee allowed to do any actions or things that will increase the insurance risk under this Sublease other than Base Rent shall be deemed any insurance policy covering premises. If the premium for such an insurance policy is increased due to a breach of the Tenant's obligations under the Agreement, the Tenant will pay an additional rentpremium as an additional rent under the Agreement. The right of entry. The landlord or his agents may enter the Premises within a reasonable time to inspect the Premises to make any changes, improvements or repairs or show premises to a potential tenant, buyer or lender. In the event of an emergency, the landlord can enter the premises at any time.
Appears in 1 contract
Sources: Tenancy Agreement
Rent. Sublessee shall (a) Tenant agrees to pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share for the Initial Term as follows:
(based i) For the period commencing on the ratio Commencement Date and ending on the last day of the square footage month in which the first anniversary of the Premises Commencement Date occurs, at the rate of One Million and 00/100 Dollars ($1,000,000.00) per annum;
(ii) For each yearly period thereafter during the Initial Term at the rate per annum equal to the square footage of the Master Premises one hundred two and one-half percent (its “Pro Rata Share”)102.5%) of the rent payable under rate in effect for the Master Lease, together with an amount equal to Sublessee’s pro rata share immediately preceding one-year period; and
(based on the ratio of square footage of the Premises (excluding the Shared Areasiii) In addition to the square footage of the Master Premises Base Rent due under subsection (excluding the Shared Areasi), with regard to any Terminated Space which is occupied by Tenant beyond the applicable Reduction Date, at the rate of the rent payable under the Master Lease Ten Dollars ($10.00) per square foot per annum so occupied by Tenant but Tenant shall be deemed to be a tenant at sufferance with respect to the Shared Areas. Such amounts thereto for which Landlord shall be due have all remedies available at law and payable within thirty equity.
(30b) days of delivery by Landlord of an invoice thereforTenant shall pay Base Rent in equal monthly installments in advance, without deduction or offset and without prior notice or demandoffset, to Landlord at the Landlord's address indicated by Sublessor set forth in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by Section 26 hereof or at such other address as may be specified by written notice from Landlord, commencing on the request Commencement Date and thereafter on the first day of Sublessee with respect each calendar month for each and every month during the Term, such monthly installment to its use of be prorated on a per diem basis for any partial calendar month(s) during the Premises. Term.
(c) All amounts required to be paid by Sublessee under this Sublease other than Base Rent payable by Tenant to Landlord under this Lease shall be deemed additional rent, and such amounts are referred to together with Base Rent as “Rent.”
Appears in 1 contract
Sources: Lease Agreement (Syratech Corp)
Rent. Sublessee 5.1. Subtenant shall pay Sublessor to Sublandlord during the Sublease Term as rent base rental for the Premises Building the following monthly amounts, which monthly amounts shall be paid in advance on the first day of each calendar month (“Base Rent”) its pro rata share ): Months 1-4: $33,250.00 NNN per month Months 4-12: $66,500.00 NNN per month Months 13-24: $68,495.00 NNN per month Months 25-36: $70,549.85 NNN per month Months 37-48: $72,666.35 NNN per month
5.2. If the Sublease Term commences on a date other than the first day of a calendar month, then Subtenant shall pay Base Rent for the fractional month on a per diem basis (based calculated on the ratio basis of a thirty (30) day month) until the first day of the square footage month, and thereafter the Base Rent shall be paid in equal monthly installments on the first day of each and every month in advance. All sums to be paid by Subtenant to Sublandlord, including without limitation Base Rent, shall be paid in lawful money of the Premises United States of America, shall be paid without deduction or offset, prior notice or demand, and shall be paid to Sublandlord via wire transfer pursuant to written instructions that Sublandlord shall deliver to Subtenant. No measurement of the Building after the execution of this Sublease shall alter any amount payable hereunder by Subtenant, including the Base Rent.
5.3. Subtenant acknowledges and agrees that this is an absolute triple net lease to Sublandlord, and that Subtenant shall pay Additional Rent to Sublandlord during the Sublease Term, in addition to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises Base Rent. Additional Rent shall include without limitation—
5.3.1. All sums (excluding the Shared AreasBase Rent) payable by Sublandlord to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under Landlord pursuant to the Master Lease with respect to the Shared Areas. Such amounts shall be due Building during the Sublease Term, including without limitation Lease Agreement Sections 4.2 and payable within thirty 4.4, but excluding (30i) days of delivery any such sums imposed by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior extent due to the expiration of the then-scheduled term any breach of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion committed or caused by Sublandlord and not caused by a breach of any such fees, costs, charges, penalties or other consideration paid in connection with SublessorSubtenant’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee obligations under this Sublease other than and (ii) any amounts payable under the Lease Amendment; and
5.3.2. All charges, costs and expenses that Subtenant is required to pay hereunder, together with all late charges, interest, costs and expenses including attorney fees that may accrue thereto in the event of Subtenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Sublandlord may incur by reason of Subtenant’s default or breach of this Sublease.
5.4. Subtenant acknowledges that amounts due as Additional Rent may be billed to and payable by Subtenant in accordance with the provisions of Lease Agreement Section 4.2.
5.5. In the event of Subtenant’s non-payment of Base Rent or Additional Rent, Sublandlord shall be deemed additional renthave all rights and remedies allowed by law.
Appears in 1 contract
Rent. Sublessee shall 3.1 Tenant agrees to pay Sublessor to Landlord the Base Rent as rent for the Premises (“Base Rent”) its pro rata share (based stated on the ratio of Lease Cover Page. Tenant will be liable for Base Rent upon the square footage date on which possession of the Premises is delivered to the square footage of the Master Premises (its “Pro Rata Share”)) of the Tenant.
3.2 All monies payable by Tenant to Landlord under this Lease will be considered rent. The monthly rent payable under the Master Lease, together with an amount equal will be paid to Sublessee’s pro rata share (based Landlord in advance on the ratio first day of square footage each calendar month during the entire term of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforthis Lease, without deduction or offset and without prior notice or demand, at set-off. Should the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay rent commence on a day other than the first day of a month or terminate on a day other than the last day of a month, all rent will be prorated based on the days in the calendar month involved. If Tenant fails to pay any portion rent or other sums when due, such unpaid amounts will bear interest at the lesser of the highest rate permitted by law or fifteen percent (15%) per annum.
3.3 Tenant hereby grants to Landlord a continuing security interest in all assets (the "Collateral") now owned and hereafter acquired by Tenant and located, at any time, on the Premises or derived from the Premises, including all now owned and hereafter acquired inventory, equipment, furniture, fixtures, accounts, contract rights, general tangibles, and all proceeds, products, replacements and substitutions thereof. Tenant authorizes Landlord to file a Financing Statement(s). Upon the occurrence of an event of default, Landlord may exercise any and all rights and remedies provided under the Uniform Commercial Code, including taking possession of the Collateral (whether through changing the locks on the Premises or otherwise). Tenant agrees that reasonable notice of any such feessale of the Collateral shall be sufficient if made by mail, costsby posting, charges, penalties personal delivery or in any other consideration paid manner in connection with Sublessor’s exercise of Landlord's sole discretion at least seven (7) days before any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentsale.
Appears in 1 contract
Sources: Lease Agreement
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is Dot paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Thermoview Industries Inc)
Rent. Sublessee shall pay Sublessor as rent for During the Premises (“Base Rent”) its pro rata share (based on term of this Lease the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due Yearly Rent and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demandother charges, at the address indicated rate stated in Exhibit 1, shall be payable by Sublessor Tenant to Landlord by monthly payments, as stated in writing Exhibit 1, in advance and without demand on the first day of each month for and in respect of such month. The rent and other charges reserved and covenanted to be paid under this Lease shall commence on the Rent Commencement Date as defined in Exhibit 1. Notwithstanding the provisions of the next preceding sentence, Tenant shall pay the first monthly installment of rent on the execution of this Lease. If, by reason of any provisions of this Lease, the rent reserved hereunder shall commence or terminate on any day other than the first day of a calendar month, the rent for such calendar month shall be prorated. The rent shall be payable to Landlord or, if Landlord shall so direct in writing, to Landlord's agent or nominee, in lawful money of the United States which shall be legal tender for payment of all debts and dues, public and private, at the time of payment, at the office of the Landlord or such place as Landlord may designate, and the rent and other charges in all circumstances shall be payable without any setoff or deduction whatsoever, except as expressly permitted herein. Rental and any other sums due hereunder not paid on or before the date due shall bear interest for each month or fraction thereof from time to time. Such Base Rent shall increase the due date until paid computed at the annual rate of three (3) percentage points over the so-called prime rate then currently from time to time based on increases charged to its most favored corporate customers by the largest national bank (N.A.) located in the base rent under city in which the Master Lease. In additionBuilding is located, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request any applicable lesser maximum legally permissible rate for debts of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentnature.
Appears in 1 contract
Sources: Lease Agreement (SMTC Corp)
Rent. Sublessee Tenant shall pay Sublessor to Landlord during the term of this Lease rent in the amount of $24.29 per square foot per year, payable monthly in advance and without notice or demand therefor on or before the 1st day of each month during the term of this Lease. All rent hereunder shall be payable at the address of Landlord specified in the paragraph herein entitled "NOTICE" or at such other place as rent for Landlord from time to time may designate. In the event that the Premises (“shall be occupied by Tenant prior to the Commencement Date, Tenant shall pay to Landlord rent as provided above on a pro-rated basis based upon the number of days so occupied by Tenant. In addition to the foregoing rent, which shall hereinafter be referred to as the "Base Rent”) its pro rata share ", Tenant shall pay to Landlord as additional rent an amount equivalent to six percent (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)6%) of the Tenant's annual gross sales (as "gross sales" are hereinafter defined) in excess of $1.8 million, per year in, on or from the Leased Premises. Said additional rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based hereunder shall be computed on the ratio basis of square footage each calendar year, any portion of the Premises (excluding the Shared Areas) a calendar year to the square footage of the Master Premises (excluding the Shared Areas)be pro rated on a monthly basis, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts and shall be due and payable within thirty payable, without notice or demand therefor, sixty (3060) days following the end of delivery each such year during the initial term of this Lease and any extension thereof. Tenants shall keep complete and proper books, records, and accounts of the gross sales (as such term is used herein), both for cash and on credit for each separate department and concession at any time operated in or on the Leased Premises, such books, records, and accounts including any sales tax reports that Tenant may be required to furnish to any government or governmental agency, at all reasonable times to be open to the inspection of the Landlord, Landlord's auditor or other authorized representative or agent. Within sixty (60) days after the end of each calendar year during the term of this Lease, the first of which ends the 31st day of December, 1997, Tenant shall furnish to Landlord a statement to be certified as correct by Tenant or an employee or agent of Tenant authorized so to certify, which shall set forth the gross sales of each department and concession operating in or on the Leased Premises for the year just concluded, and the authorized deductions, if any, therefrom and with each statement Tenant shall pay to Landlord the amount of the percentage rental which is payable by Tenant as shown thereby. If Tenant shall at any time cause an audit of Tenant's business relative to the Leased Premises to be made by a certified public accountant, Tenant shall furnish Landlord with a copy of such audit without any cost to Landlord. Landlord, not more often than once in any calendar year, shall have the right to cause an audit of the business of Tenant to be made by a certified public accountant of Landlord's own selection; and if the statements of gross sales previously made by Tenant to Landlord shall be found to be more than three percent (3%) less than the amount of Tenant's gross sales shown by such audit, Tenant immediately shall pay the cost of such audit as well as the additional rental therein shown to be payable by Tenant to Landlord; otherwise, the cost of such audit shall be paid by Landlord. Tenant will be furnished with a copy of any such annual audit which Landlord may cause to be made. The acceptance by Landlord of any money paid to Landlord by Tenant as percentage rent hereunder for the Lease Premises as shown by any statement furnished by Tenant shall not be an invoice thereforadmission of the accuracy of such statement, without deduction or offset and without prior notice or demand, at of the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in sufficiency of the base amount of such rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Leasepayment, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor Landlord shall be entitled to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under question the Master Lease to terminate the Master Lease prior to the expiration sufficiency of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion amount of any such fees, costs, charges, penalties rental payment or other consideration paid in connection with Sublessor’s exercise the accuracy of the statement or statements furnished by Tenant to justify the same any time within three (3) years after receipt of such rental payment. For the purpose of enabling Landlord to check the accuracy of any such early termination right statement or optionstatements, and that Sublessor reserves the right sufficiency of any rental payments made in accordance therewith, Tenant shall for such period of three (3) years after submission to exercise Landlord of any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease)statement keep safe and intact all of Tenant's records, books, accounts, and (b) all costs directly incurred by other data which in any way bear on or at the request of Sublessee with respect to its use of the Premises. All amounts are required to be paid establish in detail Tenant's gross sales and any authorized deductions therefrom as shown by Sublessee under this Sublease other than Base Rent any such statement, and shall on request make the same available to Landlord, Landlord's auditor, representative or agent for examination at any time during such three (3) year period. Percentage payment of Tenant's gross sales to Landlord shall be deemed additional rentand considered as a rental cost for the Leased premises, and it is expressly understood by the parties hereto that this provision is strict rental only, and shall in no way be considered or construed as creating the legal relationship of a partnership, as provided by North Carolina General Statute Section 59-37(4)(b), or any other relationship other than landlord and tenant, and it is further expressly understood that Landlord is in no way responsible for any losses which Tenant may sustain at any time.
Appears in 1 contract
Rent. Sublessee Tenant shall pay Sublessor as rent for to Landlord the Premises (“Base Rent”, Real Property Taxes (as herein defined) its pro rata share and Operating Expenses (based as herein defined), without notice, demand, offset or deduction, in advance, on the ratio first day of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premiseseach calendar month. All amounts Rent and payments required to be paid by Sublessee under Tenant to Landlord shall be made by Tenant payable to the entity and sent to the address Landlord designates and shall be made by good and sufficient check payable in United States of America currency or by other means acceptable to Landlord or by Electronic Fund Transfer of immediately available federal funds before 11:00 a.m. Eastern Time. Upon the execution of this Sublease Lease, Tenant shall pay to Landlord the third month’s Base Rent (subject to Abated Base Rent), the Security Deposit, and the first monthly installment of estimated Operating Expenses. If the Term commences (or ends) on a date other than the first (or last) day of a month, Base Rent shall be prorated on the basis of a thirty (30) day month. All sums other than Base Rent that Tenant is obligated to pay under this Lease shall be deemed to be additional rentrent due hereunder (“Additional Rent”), whether or not such sums are designated Additional Rent. The term “Rent” means the Base Rent and all Additional Rent payable hereunder. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or Additional Rent for more than five (5) days, Tenant shall pay to Landlord on demand a late charge equal to ten percent (10%) of such delinquent sum and such delinquent sum shall also bear interest from the date such amount was due until paid in full at the lesser of (i) fifteen percent (15%); or (ii) at the maximum rate permitted by law (“Applicable Interest Rate”). The provision for such late charge shall be in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not be construed as a penalty.
Appears in 1 contract
Sources: Multi Tenant Industrial Triple Net Lease (Thorne Healthtech, Inc.)
Rent. Sublessee shall pay Sublessor Lessor and Lessee acknowledge and agree that the lease of the SCH Hospital Facility by Lessor to Lessee pursuant to this Facility Lease is an integral part of a larger transaction described in detail in the APA. It is the express understanding of the parties that Lessor is leasing the Premises to Lessee in consideration of the obligation and undertakings of Lessee hereunder and under the APA, including, without limitation, the obligation to operate the Business at the SCH Hospital Facility as and to the extent set forth herein and in the APA, and that such obligations and undertakings, together with the rent payable hereunder and the consideration paid by Lessee to Lessor under the APA, collectively represent good and valuable consideration for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage lease of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)Lessee. Pursuant to Section 1.6(c) of the rent payable under APA, Lessor may elect one of three options for the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage payment by Lessee of the Premises (excluding the Shared Areas) total consideration due to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise the transactions contemplated by the APA, and the election made by the Lessor will affect the rent payable by Lessee hereunder. Therefore, upon the making (or deemed making) of any termination right such election by Lessor in accordance with Section 1.6(c) of the APA, Lessor and Lessee shall initial below the rental option corresponding to the option selected (or option that Sublessor may have deemed selected) by Lessor under the Master APA, and the provision so initialed below shall determine the fixed rent payable under this Facility Lease for the Term (the “Fixed Rent”): Lessor Lessee If Lessor elects the option set forth in Section 1.6(c)(i) of the APA, then Lessee agrees to terminate the Master Lease pay to Lessor, on or prior to the expiration first day of each calendar month during the Term, Fixed Rent in the amount of $11,666.66/month ($140,000.00/year). If the Term begins on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, then the Fixed Rent payable for such partial month shall be prorated based on the number of days in such month falling within the Term. The Fixed Rent payable hereunder shall not be subject to reset or escalation during the Term. Lessor Lessee If Lessor elects the option set forth in Section 1.6(c)(ii) or elects (or is deemed to elect) the option set forth in Section1.6(c)(iii) of the thenAPA, then Lessee agrees to pay to Lessor, on or prior to the Effective Time, a one-scheduled term time, prepaid Fixed Rental payment in the amount of $1.00, which shall constitute the only Fixed Rent due and payable for the duration of the Master Lease (it being understood that Sublessee shall have no obligation to pay Term and any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentrenewals thereof.
Appears in 1 contract
Sources: Asset Purchase Agreement
Rent. Sublessee shall 3.1 Tenant covenants to pay Sublessor to Landlord during the Lease Term, without any setoff or deduction except as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master otherwise specifically provided in this Lease, together with an the full amount equal of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, county, state or other governmental body having authority, such payments to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) be in addition to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable all other payments required to be paid by Tenant to Landlord under the Master Lease with respect to the Shared Areasthis Lease. Such amounts payments shall be paid concurrently with payments of Taxes. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable within thirty (30) in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days of delivery in such month. All amounts received by Landlord of an invoice therefor, without deduction or offset from Tenant hereunder shall be applied first to the earliest accrued and without prior notice or demand, at the address indicated by Sublessor in writing from time unpaid Rent then outstanding. Tenant’s covenant to time. Such Base pay Rent shall increase from time be independent of every other covenant set forth in this Lease.
3.2 To the extent allowed by law, if Tenant fails to time based on increases in the base rent under the Master Lease. In additionpay any Base Rent, Sublessee shall payAdditional Rent, as and or other item of Rent when due under the Master Leaseand payable hereunder, such item (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under shall bear interest at the Master Lease, but specifically excluding any fees, costs, charges or other consideration Default Rate from the date due until the date paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at shall bear a “Late Charge” equal to five percent (5%) of the request unpaid amount, both (a) and (b) of Sublessee which shall be due and payable to Landlord immediately upon demand. Notwithstanding the foregoing, Tenant shall be entitled to a grace period of five (5) days after written notice from Landlord with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentfirst late payment in any calendar year.
Appears in 1 contract
Rent. Sublessee 3.01 Commencing on the first day of the term of this Lease, and on the first day of each calendar month thereafter during the term of this Lease, Tenant agrees to pay Landlord on a monthly basis. Check shall pay Sublessor as rent be made out to: Restart Western Skies, L.P., and the suite number shall be noted in the bottom left corner of the check. Rent per month for the said Premises shall be per the schedule below: Months 1-12 $1,945.00 Months 13-24 $2,003.00 Months 25-36 $2,063.00 The rental payments above do not include rental taxes that may be charged by the city, county or State of Arizona, which will be charged to the Tenant. The amount of $1,945.00, the first months’ full rent, is paid herewith to Landlord upon execution of the Lease, along with a security / damage deposit of $2,200.00. So long as the Premises are returned to Landlord upon the expiration or termination of this Lease, in a good and clean condition (“Base Rent”) its pro rata share (allowing for reasonable wear and tear), said security deposit shall be promptly returned to Tenant.
3.02 If the commencement date is a date other than the first day of a month, rent shall be prorated based on the ratio number of days left in the month bears to the total monthly rent due and payable for such month.
3.03 N/A
3.04 Tenant agrees that Tenant will make no alterations to the Premises or the Property without the prior written consent of the square footage Landlord. Any additions or improvements installed by the Tenant upon the interior of the Premises shall, upon the expiration or earlier termination of this Lease, become the property of Landlord at Landlord’s option. Otherwise, Tenant shall be responsible for the full cost of removing such additions or improvements and restoring the space to the square footage its original condition.
3.05 Tenant, Tenant’s clients, vendors and visitors shall be entitled to park in common with other tenants of the Master Premises Landlord on a first come, first serve basis, provided that the use does not exceed four (its “Pro Rata Share”4)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
Appears in 1 contract
Rent. Sublessee Tenant hereby covenants and agrees to pay Landlord the sum of THIRTY THOUSAND DOLLARS ($30,000) per year for each year of the term of this lease, in equal monthly installments of TWO THOUSAND FIVE HUNDRED DOLLARS ($2,500), payable in advance no later than the 1st day of every calendar month of the term of this lease (commencing on February 1, 1996), hereinafter designated as the "base rent". All said payments shall be made at the office of Landlord, set forth above, or at such other place as Landlord shall from time to time designate by written notice. There shall be a late charge of $150 for any monthly installment not received by the fifth (5th) day of the month. In addition, Tenant shall also pay Sublessor as rent for the Premises (“Base Rent”) rent, its pro rata proportionate share (based on the ratio of the 5.4%) ("proportionate share"), which is its square footage rented versus total square footage of the Premises building, hereinafter referred to the square footage as its proportionate share) of any real estate taxes and assessments and sewer charges. (Currently taxes are due no later than 1/2 on June 30 and 1/2 on December 30). Landlord shall notify Tenant of the Master Premises (its “Pro Rata Share”)) receipt of the rent payable under tax bill ▇▇▇ the Master Leaseamount of tax owed by Tenant. Thereupon, together with an amount equal to Sublessee’s pro rata Tenant shall pay Landlord its share (based on the ratio of square footage of the Premises taxes and sewer charges no later than five (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (305) days of delivery receipt of such notification by Landlord. Landlord shall further prorate Tenant's proportionate share of an invoice therefor, without deduction or offset taxes and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required assessments to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentTenant for any partial tax periods occurring during the lease.
Appears in 1 contract
Rent. Sublessee 3.1 ▇▇▇▇▇▇ agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment; provided, however, that Tenant shall be entitled to a grace period of five (5) days for the first late payment in a calendar year. The amount of the late charge to be paid by Tenant shall be reassessed and added to ▇▇▇▇▇▇’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease Agreement
Rent. Sublessee shall Section 3.1 During the term of this Lease, Tenant agrees to pay Sublessor as rent for to Landlord, [***] ($[***]) Dollars per annum, payable in equal monthly installments of $[***] on or before the Premises first day of each month (the “Base Rent”) its pro rata share (based ), which Base Rent shall increase on the ratio each anniversary of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with Commencement Date by an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of current Base Rent multiplied by three (3%) percent. Notwithstanding the Master Lease (it being understood that Sublessee preceding, Tenant shall have no obligation not be obligated to pay any portion Base Rent during the first ninety days following the Commencement Date.
Section 3.2 Any sums of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts money required to be paid by Sublessee under this Sublease other than Lease by Tenant in addition to the Base Rent herein provided, shall be deemed “Additional Rent” due and payable after demand therefor with the Base Rent next due or as may be otherwise provided herein. Such Additional Rent shall be deemed additional rentto be and shall constitute “Rent” hereunder and shall be collectible in the same manner and with the same remedies as if they had been Base Rent originally reserved herein. Tenant’s obligation to pay Additional Rent accruing during the term of the Lease shall survive the earlier termination and/or expiration of the term of this Lease. If Landlord receives from Tenant any payment less than the sum of the monthly Rent, including Additional Rent, and other charges then due and owing, Landlord, in its sole discretion, may allocate such payment in whole or in part to the Base Rent, any Additional Rent, and/or other charge then due or to any combination thereof.
Appears in 1 contract
Sources: Lease Agreement (NTN Buzztime Inc)
Rent. Sublessee 3.1 T▇▇▇▇▇ agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs. Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. T▇▇▇▇▇ therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to T▇▇▇▇▇’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Rent. Sublessee (a) Gross rent during the Term shall be $2,852,003 per annum (the “Rent”), payable in advance in quarterly installments of $713,000, due on the first business day of each calendar quarter, prorated for any partial quarter during the Term, with the Rent through the end of the first calendar quarter of the Term being due on the Commencement Date.
(b) It is the purpose and intent of Landlord and Tenant that the Rent hereunder shall be a gross amount of all expenses, costs fees, Impositions and taxes incurred for the Premises, unless Tenant requests extra services
(c) Tenant hereby acknowledges that any non-payment by T▇▇▇▇▇ of Rent could cause Landlord to incur costs not contemplated hereunder, the exact amount of which is presently anticipated to be extremely difficult to ascertain. Accordingly, if any Rent is not paid when due, then Tenant shall pay Sublessor as rent for the Premises Landlord on demand a late charge equal to three percent (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)3%) of the rent payable delinquent amount. The parties agree that the late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. The parties further agree that such late charge does not constitute a lender or borrower/creditor relationship between Landlord and T▇▇▇▇▇. The payment of such late charge shall not constitute waiver of, nor excuse or cure, any default under the Master this Lease, together with an nor prevent Landlord from exercising any other rights and remedies available to Landlord. Notwithstanding the foregoing, the aggregate amount equal to Sublessee’s pro rata share (based on of late charges shall not exceed the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due maximum amount permitted by law; and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have Tenant has no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and a late charge unless Landlord has given Tenant at least five (b5) all costs directly incurred by or at the request of Sublessee with respect to its use days written notice of the Premises. All amounts required delinquent payment (which may be given at any time during the delinquency) and Tenant fails to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentcure the outstanding payment within that time period.
Appears in 1 contract
Rent. Sublessee 3.01 Tenant shall pay Sublessor pay, or cause to be paid, to Landlord without any setoff or deduction whatsoever (except as rent may be otherwise herein expressly provided) and without any prior demand therefore, at the Landlord's place of business indicated above a monthly rental of One Thousand Five Hundred Dollars ($1500.00), per month, payable monthly in advance on the 1st day of each and every month. Such rents are to be paid in advance, on the first day of each calendar month. If the Lease shall commence on the day other than the first day of a calendar month, or shall end on a day other than the last day of a calendar month, the applicable rental installment for such first or last fractional month shall be such proportion of the monthly installment as the number of days such fractional month bears to the total number of days in such calendar month.
3.02 The Annual Fixed Rent above specified shall be net to Landlord. Tenant shall be responsible for the Premises (“Base Rent”) its pro rata share (based on the ratio payment of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease all costs and expenses with respect to the Shared Areas. Such amounts shall use, occupancy and maintenance of the Premises, except where otherwise specified herein.
3.03 Landlord acknowledges that it has received from the Tenant the sum of Three Thousand Dollars ($3000.00), as consideration of First and Last Month Rent for the payment of rent and the performance and observance of the agreements and conditions in this Lease contained on the past of Tenant to be due performed and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Leaseobserved. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise event of any termination right default or option that Sublessor defaults in such payment, performance or observance, Landlord may have under apply said sum or any part thereof towards the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion curing of any such fees, costs, charges, penalties default or other consideration paid in connection with Sublessor’s exercise of defaults and/or towards compensating Landlord for any loss or damage arising from any such early default or defaults. Upon the yielding up of the Demised Premises at the expiration or earlier termination right of this Lease, if Tenant shall not then be in default or optionotherwise liable to Landlord, said sum or the then unapplied balance thereof shall be returned to Tenant. In the event Landlord's interest in the Building shall be transferred or assigned, the Lessor shall credit or turn over to such transferee or assignee the First and that Sublessor reserves Last Month Rent or the right unpaid balance thereof In such event, the Tenant agrees to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything look only to the contrary contained in this Sublease)transferee or assignee, and (b) all costs directly incurred by or at as the request case may be, of Sublessee the Landlord with respect to the First and Last Month Rent or the unpaid balance thereof, its use of application and return Landlord further covenants that it will not assign or encumber or attempt to assign or encumber the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base First and Last Month Rent shall be deemed additional rentdeposited herein.
Appears in 1 contract
Rent. Sublessee During the Lease Term, Tenants, jointly and severally, shall pay Sublessor a total rent to Landlord in the amount of $ (less rent credits for paying online as described in this paragraph). Said total rent for the Premises shall be paid by Tenant to Landlord in equal monthly installments of $ (“Base Rent”), at Landlord’s address set forth above, in advance and shall be received in hand or postmarked on or before the first (1st) its pro rata share (based on day of each calendar month during the ratio Lease Term and without demand, delay or offset for any reason and without a grace period. If Tenant elects to pay monthly rent installments via Landlord’s “Pay Rent Online” section of the square footage web site ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ (powered by ▇▇▇▇▇▇▇▇.▇▇▇), then Tenant shall receive a five dollar ($5) discount, thus lowering the monthly rent installment to $ . If Rent is not paid online on or before the 1st day of each month OR received in hand or postmarked on or before the 1st day of each month, the Tenant is in default of this said lease. Time is of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable essence for each and every monthly Rent payment and for all other monies due and owing under the Master this Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)including security deposit, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery damages, invoices or other costs or expenses chargeable by law by Landlord of an invoice thereforto Tenant. Tenant shall submit all rental payments in full, without deduction In the event there is more than one Tenant, then Tenants (if paying online as described above) agree to designate one person who shall submit rent in full or offset and without prior notice or demand, (if paying via US mail) agree to make all separate payments at the address indicated by Sublessor in writing from same time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Leasesame envelope. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor Landlord reserves the right to exercise refuse individual or partial payments. Tenant acknowledges that Rent amount for Premises specified herein may vary from similar Premises within the building and that such variation is due to either a discount granted to other Tenants for longevity of leasing with Landlord or water usage by double occupancy of any such express early termination right bedroom (Example: 2 tenants occupying a 1-bedroom apartment, 3-4 tenants occupying a 2-bedroom apartment, or option held 4-6 tenants occupying a 3-bedroom apartment) Tenants, shall jointly and severally, immediately pay to Landlord a late fee of Fifty Dollars ($50) for any monthly payment of Rent not received in hand by Sublessor under Landlord on or before the Master Lease notwithstanding anything first (1st) day of each calendar month, and an ongoing $5 per day late fee after the 5th day that Rent has not been received in hand by Landlord. It is Tenant’s responsibility to ensure that Landlord receives said Rent. Tenants jointly and severally shall pay to Landlord a fee of Fifty Dollars ($50), or any amounts charged by Landlord’s bank if greater than $50, for each check of Tenants jointly or severally returned by a banking institution for insufficient funds or for any other reason. If Landlord receives a returned check issued jointly or severally by Tenants from a banking institution, Landlord may require that Tenants make all future payments to Landlord in the form money order or certified cashiers check only. Landlord will first deduct all fees, damages, costs and charges, including late fees, NSF fees, and other damages and costs set forth herein, from all amounts received from Tenant on a monthly basis before applying said amounts to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentdue.
Appears in 1 contract
Sources: Lease Agreement
Rent. Sublessee 3.1. The rent ("Rent") payable during the Term under this Lease shall pay Sublessor as rent for consist of the Premises following:
(“a) the Base Rent”, as defined in Schedule C hereto.
(b) its pro rata share additional rent (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)"Additional Rent") of the rent payable under the Master Lease, together with in an amount equal to Sublessee’s pro rata share any and all other sums payable by Lessee to Lessor under this Lease.
3.2. Except as otherwise specifically provided in this Lease (based on the ratio a) all payments of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time be in equal monthly installments and shall be made in advance on the first (1st) day of each month during the Term, without notice (provided that if the amount of Base Rent is required to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable be calculated by Sublessor to Master Lessor in connection accordance with Sublessor’s exercise Schedule C hereof, then Lessor shall give Lessee prior written notice of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration such calculation, which notice shall include an explanation of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any basis for such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, calculation and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Subleasereasonable backup documentation relating thereto), and (b) all costs directly incurred payments of Additional Rent shall be made within 30 days after written notice from Lessor, in each case by check payable to the order of "UNISYS CORPORATION" and addressed to Unisys Corporation, P.O. Box ▇▇▇, ▇▇▇▇ ▇▇▇▇, ▇ennsylvania 19424-0▇▇▇, ▇▇▇▇▇▇▇▇▇: ▇▇sb▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇ ▇▇▇▇., or to such other person or at such other place as Lessor may from time to time designate in writing.
3.3. Lessee shall pay all Rent when due, in lawful money of the request United States which shall be legal tender for the payment of Sublessee all debts, public and private, at the time of payment. All sums due and payable by Lessor or Lessee pursuant to the terms of this Lease that are not paid within five (5) days of the due date therefor shall from and after the due date bear interest at an annual percentage rate of ten percent (10%). All interest accrued and payable by Lessee under this subsection as hereinabove provided shall be deemed to be Additional Rent payable hereunder and due at such time or times as the rent with respect to which such interest shall have accrued shall be payable under this Lease.
3.4. Lessee agrees to pay, an Additional Rent, any revenue tax or charge, occupancy tax, business privilege tax, business use tax or any other tax that may be levied against the Demised Premises or Lessee's use or occupancy thereof during the Term; provided, however, that in no event shall Lessee be obligated to pay any income tax that is imposed upon and/or payable by Lessor, and provided further that payments made by Lessee pursuant to this Section 3.4 shall not be duplicative of amounts paid by Lessee pursuant to any other provision of this Lease.
3.5. In the event that Lessee shall dispute any calculation of Rent charged to Lessee by Lessor, then Lessee shall send to Lessor a written notice, within 30 days of receipt by Lessee of such charge, setting forth the basis for Lessee's dispute. Lessor and Lessee shall thereupon use reasonable and good faith efforts to resolve such dispute. If the parties are unable to resolve such dispute within 30 days after submission by Lessee of its use dispute notice, then the parties shall designate an independent certified public accountant mutually acceptable to both parties (the "Independent Accountant") to resolve such dispute and the fees and charges of the PremisesIndependent Accountant shall be shared equally by the parties. Both parties shall provide the Independent Accountant with all information reasonably requested by the Independent Accountant in connection with its review of such dispute, and both parties shall request that the Independent Accountant complete its work expeditiously and issue a written report to both parties setting forth its determination. The written determination of the Independent Accountant shall be final and shall be binding upon both Lessor and Lessee. All amounts required disputes to be paid resolved pursuant to this Section 3.5 shall be so resolved in accordance with the principles and standards set forth in Section 3.6 below.
3.6. All calculations by Sublessee Lessor of Base Rent, Additional Rent and any other amounts that are payable by Lessee hereunder shall be made in accordance with Lessor's past practices during calendar year 1994 with respect to Defense Systems, and all charges and allocations relating to the Demised Premises and all accounting practices utilized by Lessor with respect to amounts charged to Lessee under this Sublease other than Base Rent Lease (including the capitalization, amortization and expensing of costs incurred and funds expended) shall also be deemed additional rentmade in such manner.
Appears in 1 contract
Sources: Assignment and Assumption of Lease (L 3 Communications Corp)
Rent. Sublessee Upon mutual execution of this Lease, Tenant shall deliver to Landlord the sum of $41,136 as prepaid base rent, to be applied to the base rent due for the third month of this Lease. All sums payable to Landlord by Tenant pursuant to the provisions of this Lease are rent to Landlord. Tenant shall pay Sublessor Landlord without notice, demand, deduction, offset, or counterclaim, in lawful money of the United States, the monthly base rental stated in Section 1(f) in advance on or before the first day of each month, and any other additional payments due to Landlord, including Operating Costs (hereinafter defined) when required under this Lease (all of which are collectively referred to herein as rent the "Rent"). If any sums payable by Tenant to Landlord under this Lease are not received within five days following the date due, Tenant shall pay Landlord in addition to the amount due, for the Premises (“Base Rent”) its pro rata share (based on the ratio cost of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Leasecollecting and handling such late payment, together with an amount equal to Sublessee’s pro rata share the greater of $100 or five percent (based on the ratio of square footage 5%) of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Leasedelinquent amount. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or delinquent sums payable by Sublessor Tenant to Master Lessor in connection with Sublessor’s exercise Landlord and not paid within five days of the due date shall, at Landlord's option, bear interest at the rate of twelve percent (12%) per annum, or the highest rate of interest allowable by law, whichever is less. Interest on all delinquent amounts shall be calculated from the original due date to the date of payment. Landlord's acceptance of less than the full amount of any termination right payment due from Tenant shall not be deemed an accord and satisfaction or option that Sublessor may have under the Master Lease compromise of such payment unless Landlord specifically consents in writing to terminate the Master Lease prior to the expiration payment of such lesser sum as an accord and satisfaction or compromise of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentamount which Landlord claims.
Appears in 1 contract
Rent. Sublessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based Starting on the ratio of Effective Date and continuing throughout the square footage of the Premises Term, Tenant agrees to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by pay Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor referenced on Section 21.4 of this Lease, or such other place as Landlord shall designate in writing from time to timewriting, a monthly rent of ONE HUNDRED SEVENTY-FOUR THOUSAND FIVE HUNDRED FORTY-TWO DOLLARS AND FIFTY CENTS ($174,542.50) (the “Rent”), without any deduction, set-off or counterclaim (except as set forth in Articles VI, X and XVIII of this Lease). Such Base Rent shall increase from time be payable in advance, in equal monthly installments, on the first (1st) day of each and every calendar month subsequent to time based on increases in the base rent Effective Date during the Term hereof and shall be proportionately reduced for any partial month during the Term. If any party to whom Tenant shall not then be paying Rent under the Master Lease. In addition, Sublessee this Lease shall pay, as and when due under the Master Lease, (a) its Pro Rata Share demand payment of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges Rent or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves amounts from Tenant alleging the right to exercise any receive such express early termination right Rent or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained other amount as a result of a transfer of Landlord’s interest in this Sublease)Lease or for any other reason, and (b) all costs directly incurred or if conflicting demands are made on Tenant concerning the payment of Rent by parties comprising Landlord, Tenant shall not be obligated to honor such demand unless Tenant shall receive written instructions to do so from the person to whom Tenant shall then be paying Rent or at the request of Sublessee with respect shall otherwise receive evidence satisfactory to its use Tenant of the Premisesright of the person or entity making the demand. All amounts required The withholding of Rent, or any other amount payable by Tenant under this Lease, by Tenant pending the determination of the right of the party making the demand shall not be deemed to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional renta default on the part of Tenant.
Appears in 1 contract
Rent. Sublessee shall The total rent that the Tenants agree to pay Sublessor as rent to the Landlord for the Premises (“Base Rent”) its pro rata share (based premises for the term is due upon execution of this lease. However, for the convenience of the Tenants, this rent shall be paid by the Tenants to the Landlord in installments as outlined in the preceding pages of this lease. Rent is always due by the first of the month regardless of lease commencement date. Acceptance of partial payments from some Tenants does not relieve such Tenants from their liability for the entire rents or as to shares owned by other joint and several Tenants. On execution of this lease, ▇▇▇▇▇▇▇ agree to pay to the Landlord the security deposit unless otherwise agreed in writing; said payment to be considered a reservation fee due on execution until occupancy. A late charge of 4% of the overdue rent will be assessed on the ratio second calendar day of the square footage month if any rent installment is not received by the Landlord on or before the second calendar day of the Premises to the square footage month. An additional 4% of the Master Premises (its “Pro Rata Share”)) outstanding balance will be assessed if the rent remains unpaid after the seventh calendar day of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areasmonth. Such amounts Said late charges shall be become due and payable within thirty (30) days immediately upon notice, and if not so paid, may be deducted by the Landlord from the security deposit as added rent. A charge of delivery $50.00 will be made by the Landlord for each check of the Tenants returned for any reason. If Tenants make payment of any rent installment in an invoice thereforamount less than that due, without deduction Landlord may accept same, but shall not be bound by any restrictive endorsement, or offset any statement, or otherwise to the effect that such payment is made in full satisfaction of the amounts then due. Notwithstanding such acceptance by the Landlord, the Landlord may avail himself of any other legal remedies he may have. If ▇▇▇▇▇▇ makes any payments hereunder, and without prior notice then fails to occupy the premises or demandfails to comply with any other term or requirement of this agreement, at Landlord may keep any such payments as partial liquidated damages. Notwithstanding retention of such payments as liquidated damages, the address indicated by Sublessor Landlord shall have, in writing from time to time. Such Base Rent shall increase from time to time based on increases in addition, any other rights afforded Landlord under this lease against the base rent under the Master LeaseTenant for breach of this lease. In addition, Sublessee shall pay, as if the security and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts damage deposit are required to be paid at the time of execution of this lease and are not paid at such time, or if such payments are to be made pursuant to an agreed upon schedule, and such payments are not made at the time set forth in such schedule, then the Landlord reserves the right at any time after such time by Sublessee under this Sublease which such payments should have been made, to give Tenant(s), or any of the Tenant(s), five days written notice, by certified mail, return receipt, that if the deficiencies in these amounts are not paid in full and received by the Landlord by the end of such five day notice period, then the Landlord may rent the demised premises to others and may retain any amounts paid to that date as partial liquidated damages and, in addition, may seek to enforce any other than Base Rent shall be deemed additional rentrights the Landlord may have against the Tenant, and may, in addition, terminate the lease.
Appears in 1 contract
Sources: Lease Agreement
Rent. Sublessee shall 3.1 ▇▇▇▇▇▇ agrees to pay Sublessor to Landlord the Base Rent as rent for the Premises (“Base Rent”) its pro rata share (based stated on the ratio of Lease Cover Page. Tenant will be liable for Base Rent upon the square footage date on which possession of the Premises is delivered to the square footage of the Master Premises (its “Pro Rata Share”)) of the Tenant.
3.2 All monies payable by Tenant to Landlord under this Lease will be considered rent. The monthly rent payable under the Master Lease, together with an amount equal will be paid to Sublessee’s pro rata share (based Landlord in advance on the ratio first day of square footage each calendar month during the entire term of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforthis Lease, without deduction or offset and without prior notice or demand, at set-off. Should the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay rent commence on a day other than the first day of a month or terminate on a day other than the last day of a month, all rent will be prorated based on the days in the calendar month involved. If Tenant fails to pay any portion rent or other sums when due, such unpaid amounts will bear interest at the lesser of the highest rate permitted by law or fifteen percent (15%) per annum.
3.3 Tenant hereby grants to Landlord a continuing security interest in all assets (the "Collateral") now owned and hereafter acquired by Tenant and located, at any time, on the Premises or derived from the Premises, including all now owned and hereafter acquired inventory, equipment, furniture, fixtures, accounts, contract rights, general tangibles, and all proceeds, products, replacements and substitutions thereof. Tenant authorizes Landlord to file a Financing Statement(s). Upon the occurrence of an event of default, Landlord may exercise any and all rights and remedies provided under the Uniform Commercial Code, including taking possession of the Collateral (whether through changing the locks on the Premises or otherwise). Tenant agrees that reasonable notice of any such feessale of the Collateral shall be sufficient if made by mail, costsby posting, charges, penalties personal delivery or in any other consideration paid manner in connection with Sublessor’s exercise of Landlord's sole discretion at least seven (7) days before any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentsale.
Appears in 1 contract
Sources: Lease Agreement
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Scolr Inc)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Terms, except that the first full mouth’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Rent. Sublessee During the Lease Term, Tenants, jointly and severally, shall pay Sublessor as a total rent for to Landlord in the Premises amount of $ . Said total rent shall be paid by Tenant to Landlord in equal monthly installments of $ (“Base Rent”) its pro rata share to Landlord, at Landlord’s address set forth above, in advance and shall be received in hand or postmarked on or before the first (based 1st) day of each calendar month during the Lease Term and without demand, delay or offset for any reason and without a grace period. If the Rent is not received in hand or postmarked on or before the ratio 1st day of each month, the Tenant is in default of this said lease. Time is of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable essence for each and every monthly Rent payment and for all other monies due and owing under the Master this Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)including security deposit, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery damages, invoices or other costs or expenses chargeable by law by Landlord of an invoice thereforto Tenant. Tenant shall submit all rental payments in full and acknowledges that in the event there is more than one Tenant, without deduction or offset and without prior notice or demand, then Tenants agree that all separate payments will be paid at the address indicated by Sublessor in writing from time to same time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor Landlord reserves the right to exercise refuse individual or partial payments. Tenant acknowledges that Rent amount for Premises specified herein may vary from similar Premises within the building and that such variation is due to either a discount granted to other Tenants for longevity of leasing with Landlord or water usage by double occupancy of any such express early termination right bedroom (Example: 2 tenants occupying a 1-bedroom apartment, 3-4 tenants occupying a 2-bedroom apartment, or option held 4-6 tenants occupying a 3-bedroom apartment) Tenants, shall jointly and severally, immediately pay to Landlord a late fee of Fifty Dollars ($50) for any monthly payment of Rent not received in hand by Sublessor under Landlord on or before the Master Lease notwithstanding anything first (1st) day of each calendar month, and an ongoing $5 per day late fee after the 5th day that Rent has not been received in hand by Landlord. It is Tenant’s responsibility to ensure that Landlord receives said Rent. Tenants jointly and severally shall pay to Landlord a fee of Fifty Dollars ($50), or any amounts charged by Landlord’s bank if greater than $50, for each check of Tenants jointly or severally returned by a banking institution for insufficient funds or for any other reason. If Landlord receives a returned check issued jointly or severally by Tenants from a banking institution, Landlord may require that Tenants make all future payments to Landlord in the form money order or certified cashiers check only. Landlord will first deduct all fees, damages, costs and charges, including late fees, NSF fees, and other damages and costs set forth herein, from all amounts received from Tenant on a monthly basis before applying said amounts to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentdue.
Appears in 1 contract
Sources: Lease Agreement
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within seven (7) days after the date when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to five percent (5%) ten percent (10%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Rent. Sublessee (a) Tenant shall pay Sublessor as rent to Landlord for the Premises use and occupancy of the Properties the amount of Six Hundred Sixty-Six Thousand Six Hundred Sixty-Six and 67/100 Dollars ($666,666.67) per month for each month of the Term (“Base Basic Rent”) its pro rata share (based ). The Basic Rent shall be payable in advance on the ratio first business day of each month of the square footage Term of this Lease. Basic Rent is payable to Landlord in cash, check, or ACH payment at the office of the Premises to Landlord at the square footage address set forth in this Lease. The first payment of Basic Rent (representing Basic Rent prorated for the Master Premises month of March and all of April), shall be due upon the Effective Date.
(its b) If any installment of Basic Rent is not paid on the date due, Tenant shall pay Landlord interest on such overdue payment at the lesser of: a) 10% per annum or b) the maximum rate permitted by applicable law (the “Pro Rata ShareDefault Rate”), accruing from the due date of such payment until the same is paid. If any installment of Basic Rent is not paid for a period of three (3) business days after notice of the rent payable under the Master Leasedefault thereof by Landlord, together with Tenant shall pay Landlord a late charge in an amount equal to Sublessee’s pro rata share the lesser of five (based on the ratio of square footage 5%) percent of the Premises unpaid installment of Basic Rent or the highest late charge permitted by applicable law.
(excluding c) Tenant shall pay and discharge before the Shared Areas) imposition of any fine, lien, interest or penalty which may be added thereto for late payment thereof any amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease (“Additional Rent”), together with every fine, penalty, interest and cost which may be added by the square footage party to whom such payment is due for nonpayment or late payment thereof. In the event of any failure by Tenant to pay or discharge any of the Master Premises (excluding foregoing, Landlord shall have all rights, powers and remedies provided herein, by law or otherwise, in the Shared Areas), event of the rent nonpayment of Basic Rent. Any Additional Rent payable under the Master Lease with respect to the Shared Areas. Such amounts Landlord shall be due and payable paid, within thirty fifteen (3015) days of delivery by Landlord of an invoice after demand therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
Appears in 1 contract
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent shall pay Sublessor as rent be paid upon the execution of this Lease. Rent for any period during the Premises (“Base Rent”) its pro rata share (based on the ratio Term which is less than a full month shall be a prorated portion of the square footage Monthly Installment of Rent based upon the Premises to the square footage number of the Master Premises (its “Pro Rata Share”)) of the days in such month. Said rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in the base writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Patrick Industries Inc)
Rent. Sublessee 4.1 Tenant shall pay Sublessor pay, as rent for the Premises Leased Premises, the following:
(“a) During the first 5 years of the term, an estimated annual base rent per square foot of $15.75, for an aggregate annual base rent of $165,327.75 ("Base Rent”"), payable monthly in the sum of $13,777.31.
(b) During the remainder of the term, the Base Rent shall increase by 15%.
(c) If the date of Substantial Completion occurs on a day other than the first day of a month, rent from such day until the first day of the following month shall be prorated (at a rate of 1/30th of the monthly rent per day). During said period of partial monthly occupancy, all other terms and conditions of this Lease shall apply. All payments assume rentable square footage of 10,497 square feet.
4.2 Tenant shall pay as Additional Rent its pro rata proportionate share (of the taxes and any other charges allocated amongst the tenants. Tenant's Proportionate Share shall be adjusted as of each first day of January during the term, based on the ratio of relationship between the gross square footage leased to Tenant and the gross square footage of building construction completed and initially occupied in the Premises Office Park as of such first day of January. Tenant's Proportionate Share shall be adjusted over time as additional space is constructed in the office/industrial park.
4.3 The annual Base Rent shall be payable in advance in equal monthly installments on the first day of each calendar month. Tenant covenants to pay the square footage Base Rent and Additional Rent in lawful money of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts United States which shall be due legal tender for the payment of all debts, public and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demandprivate, at the time of payment. Such rent shall be paid to Landlord at its office address indicated by Sublessor in writing hereinabove set forth, or at such other place as Landlord may, from time to time. Such , designate by notice to Tenant.
4.4 The Base Rent and Additional Rent shall increase from time to time based on increases in the base be payable by Tenant without any set-off or deduction of any kind or nature whatsoever and without notice or demand; and all Additional Rent under this Lease shall constitute rent under the Master Leasepayable hereunder. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share The sum of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts increases required to be paid by Sublessee under this Sublease other than as Additional Rent, and/or increases in Base Rent in accordance with this Lease, shall be deemed additional rentpaid to Landlord within 10 days following the giving of notice hereof by Landlord of such increases.
Appears in 1 contract
Sources: Lease Agreement (3 Dimensional Pharmaceuticals Inc)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month's rent shall pay Sublessor as rent for be paid upon the Premises execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)1/12) of the rent payable under Annual Rent in effect at such time. Rent for any period during the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Term which is less than a full month shall be a prorated portion of the Premises (excluding Monthly Installment of Rent based upon the Shared Areas) to the square footage number of the Master Premises (excluding the Shared Areas), of the days in such month. Said rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Rent Payment Address, as set forth on the Reference Pages, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing. If an Event of Default occurs with respect to the base payment of rent, Landlord may require by notice to Tenant that all subsequent rent under the Master Leasepayments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Tenant must implement such automatic payment system prior to the expiration of the then-next scheduled term of the Master rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
Appears in 1 contract
Sources: Lease (Rockford Corp)
Rent. Sublessee 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first month's rent shall pay Sublessor as rent for be paid upon the Premises (“Base Rent”) its pro rata share (based on the ratio Delivery Date. The Monthly Installment of Rent in effect at any time shall be one-twelfth of the square footage Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Premises to the square footage Monthly Installment of the Master Premises Rent based (its “Pro Rata Share”)except as otherwise set forth in this Lease) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within upon a thirty (30) days of delivery by Landlord of an invoice thereforday month. Said rent shall be paid to Landlord, without deduction or offset and without prior notice or demand, except as may be required by Section 19.7, at the address indicated by Sublessor in writing from time Landlord's address, as set forth on the Reference Page, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the base extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent under or any other sum is not paid within seven (7) days of the Master Lease. In addition, Sublessee shall pay, as and date when due under the Master and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to four percent (a4%) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges unpaid rent or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration payment. The amount of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required late charge to be paid by Sublessee under this Sublease other than Base Rent Tenant shall be deemed additional rentreassessed and added to Tenant's obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 in the event said rent or other payment is unpaid after date due.
3.3 If Tenant shall extend the Term pursuant to Section 2.4 above, Tenant shall pay Annual Rent during each extension of the Term equal to the greater of (a) Market Rent, as defined below, or (b) the Annual Rent in effect upon the last day of the Term existing prior to the extension period in question.
Appears in 1 contract
Sources: Lease Agreement (O Charleys Inc)