Common use of Rental Clause in Contracts

Rental. Section 5.01 Tenant covenants and agrees to pay to Landlord as Rental for the Premises, in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly in advance, without notice or demand, on the first day of each calendar month. In the event rent is not received by Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease shall be deemed to be other than on account of the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment as Rental be deemed a waiver of a breach of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereof.

Appears in 3 contracts

Samples: Office Lease Agreement (Select Medical Holdings Corp), Office Lease Agreement (Select Medical Corp), Office Lease Agreement (Select Medical Corp)

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Rental. Section 5.01 A. Tenant covenants and agrees to pay fixed rent ("Fixed Rent") to Landlord without notice, by check sent to Landlord at such address as Rental for shall be provided by Landlord to Tenant, provided that such check shall be received by Landlord in sufficient time that the Premisesfunds will be received by the Fixed Rent due date, or to such other persons or place as may be provided by written notice from the person then entitled to receive the Fixed Rent, in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly equal installments in advance, without notice advance on or demand, on before the first day of each calendar month. In the event rent is not received by Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord month as specified in the Basic Lease Information or such other place as Landlord may designate in writingInformation. The first monthly installment of Rental If Fixed Rent is not paid when due, interest shall be paid on accrue thereon at the Commencement Date, except Overdue Rate until payment is made. Tenant hereby acknowledges that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder late payment by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment Fixed Rent, Additional Rent and other sums due under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Fixed Rent or any other sum due to Landlord from Tenant shall not have been received by Landlord or Landlord's designee within fifteen (15) days after such amount shall be deemed due, then, without any requirement for notice to be other than Tenant, Tenant shall pay to Landlord a late charge equal to two percent (2%) of such overdue amount, together with interest on account such overdue amount at the Overdue Rate. The parties agree that such late charge represents a fair and reasonable estimate of the earliest Rental due hereunder, nor costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall any endorsement or statement on any check or payment as Rental be deemed in no event constitute a waiver of a breach Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the Lease Agreement or an accord other rights and satisfaction, and remedies granted hereunder; provided that nothing contained herein shall relieve Landlord may accept such check or payment without prejudice of a duty to Landlord’s right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by mitigate damages under applicable law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereof.

Appears in 3 contracts

Samples: Lease Agreement (Caterair International Inc /Ii/), Lease Agreement (Caterair International Inc /Ii/), Lease Agreement (Caterair International Inc /Ii/)

Rental. Section 5.01 A. Tenant covenants and agrees to pay fixed rent ("Fixed Rent") to Landlord without notice, by check sent to Landlord at such address as Rental for shall be provided by Landlord to Tenant, provided that such check shall be received by Landlord in sufficient time that the Premisesfunds will be received by the Fixed Rent due date, or to such other persons or place as may be provided by written notice from the person then entitled to receive the Fixed Rent, in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly equal installments in advance, without notice advance on or demand, on before the first day of each calendar month. In the event rent is not received by Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord month as specified in the Basic Lease Information or such other place as Landlord may designate in writingInformation. The first monthly installment of Rental If Fixed Rent is not paid when due, interest shall be paid on accrue thereon at the Commencement Date, except Overdue Rate until payment is made. Tenant hereby acknowledges that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder late payment by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment Fixed Rent, Additional Rent and other sums due under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Fixed Rent or any other sum due to Landlord from Tenant shall not have been received by Landlord or Landlord's designee within fifteen (15) days after such amount shall be deemed due, then, without any requirement for notice to be other than Tenant, Tenant shall pay to Landlord a late charge equal to two percent (2%) of such overdue amount, together with interest on account such overdue amount at the Overdue Rate. The parties agree that such late charge represents a fair and reasonable estimate of the earliest Rental due hereunder, nor costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall any endorsement or statement on any check or payment as Rental be deemed in no event constitute a waiver of a breach Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the Lease Agreement or an accord other rights and satisfaction, and remedies granted hereunder; provided that nothing contained herein shall relieve Landlord may accept such check or payment without prejudice of a duty to Landlord’s right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by mitigate damages under applicable law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereof.

Appears in 2 contracts

Samples: Lease (Caterair International Inc /Ii/), Lease Agreement (Caterair International Inc /Ii/)

Rental. Section 5.01 Tenant covenants The monthly rental payable hereunder is as set forth in the Equipment Schedule(s). Rental shall begin to accrue on the Installation Date for each item of Equipment and agrees to pay to Landlord as Rental for the Premises, shall be due and payable by Lessee in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly in advance, without notice or demand, advance on the first day of each calendar month. In If the event rent is Installation Date does not received by Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid fall on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the rental for that period of time from the Installation Date until the Commencement Date shall be an amount equal to the Daily Rental multiplied by the number of days from (and including) the Installation Date to (but not including) the Commencement Date and shall be due and payable on the Installation Date. In addition to the monthly Rental rental set forth in the Equipment Schedule(s), Lessee shall pay to Lessor an amount equal to all taxes paid, payable or required to be collected by Lessor, however designated, which are levied or based on the rental, on the Lease or on the Equipment or on its purchase for the first lease hereunder, or on its use, lease, operation, control or value (including, without limitation, state and last fractional months local privilege or excise taxes based on gross revenue), any penalties or interest in connection therewith which are attributable to Lessee's negligence or taxes or amounts in lieu thereof paid or payable by Lessor in respect of the Term foregoing, but excluding taxes based on Lessor's net income. Personal property taxes assessed on the Equipment during the term hereof shall be appropriately proratedpaid by Lessee. The term “Rental” as used herein means Lessee agrees that Lessor, or Lessor's agent may file all required property tax returns and reports and pay all taxes thereon pertaining to the sum Equipment. In such event, Lessee shall reimburse Lessor or Lessor's agent for all costs and expenses incurred in connection therewith, provided that such costs and expenses (including property taxes) shall not exceed the property taxes pursuant to statutory tax rates and regulations. If requested by Lessor, Lessee agrees to file, on behalf of Annual Base RentalLessor, all required property tax returns and reports concerning the Equipment with all appropriate governmental agencies, and, within not more than thirty (30) days after the due date of such filing to send Lessor confirmation of such filing. Interest on any past due payments, including but not limited to administrative charges and any other sums due hereunder charges or fees arising out of or related to this Lease, shall accrue at the rate of 1 1/2% per month, or if such rate shall exceed the maximum rate allowed by Tenant to Landlordlaw, whether or not expressly denominated as rentthen at such maximum rate, and shall constitute Rental be payable on demand. Charges for taxes, penalties and interest shall be promptly paid by Lessee when invoiced by Lessor. As security for the purposes full performance of Section 502(b)(6) all of Lessee's obligations under each Equipment Schedule, Lessee shall, simultaneously with the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlordexecution and delivery of each Equipment Schedule, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of deposit with Lessor the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processingset forth on such Equipment Schedule. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease The security deposit shall be deemed promptly returned to be other than on account of Lessee by Lessor upon the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment as Rental be deemed a waiver of a breach of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover possession of the Premise and/or the balance expiration of such Rental Equipment Schedule and return or pursue any other remedy purchase of all Equipment, as the case may be, provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereofthat all Lessee obligations under such Equipment Schedule have been fulfilled.

Appears in 2 contracts

Samples: Master Lease Agreement (Conductus Inc), Master Lease Agreement (SQL Financials International Inc /De)

Rental. Section 5.01 Tenant covenants and agrees to pay to Landlord as Rental for the Premises, in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly in advance, without set-off, notice or demand, on the first day of each calendar month. In the event rent is not received by Landlord from Tenant by the first tenth (10th) day of each calendar month, Tenant shall pay a late charge for special handling equal to five four percent (54%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term "Rental" as used herein means the sum of Annual Base Rental, and all other sums due hereunder by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped "NSF" will be due and payable, in addition to the overdue installments to cover Landlord’s 's extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease shall be deemed to be other than on account of the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment as Rental be deemed a waiver of a breach of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s 's right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereof.

Appears in 1 contract

Samples: Office Lease Agreement (Select Medical Corp)

Rental. Section 5.01 Tenant covenants and agrees to pay to Landlord an annual base rental as Rental set forth on the Special Stipulations attached hereto, commencing on April 1, 2004 (hereinafter called the "Rent Commencement Date"), subject to extension as provided in Section 6, below. However, notwithstanding the fact that Tenant's base rental obligation shall not commence until the Rent Commencement Date, Tenant's obligations for the PremisesTaxes (hereinafter defined) and insurance premiums (as set forth in Section 5, below), together with Tenant's obligations for Operating Expenses (hereinafter defined), as set forth in lawful money Section 9 below, shall commence as of the United StatesCommencement Date. Tenant shall also pay all taxes in the nature of sales, 1/12 use or similar taxes, now or hereafter assessed or levied by any taxing authority upon this payment of base rental or additional rent, and which the Annual Base RentalLandlord is required or permitted to collect from Tenant payable simultaneously with the payment of base rent or additional rent, payable as applicable. Other remedies for nonpayment of rent notwithstanding, if the monthly in advancerental payment (whether for base rental or other amounts [e.g., without notice or demandTaxes, on the first day of each calendar month. In the event rent insurance premiums, and Operating Expenses]) is not received by Landlord from Tenant by on or before the first tenth (10th) day of each calendar monththe month for which rent is due, Tenant shall pay a late service charge for special handling equal to of five percent (5%) per month on all past due amounts owed on such date shall become due and payable in addition to the regular rent owed under this Lease. Notwithstanding the foregoing sentence, Landlord will provide notice to Tenant of any nonpayment of rent not more than one time per lease year and Tenant shall then have five (5) business days from the receipt of notice to make such payment prior to Landlord imposing the penalties as prescribed herein. Tenant's payment of Taxes, insurance premiums, Operating Costs, and all other monetary sums under this Lease shall be subject to any and all of the Rental due. Rental shall provisions within the Lease which govern Tenant's payment of base rental, all to be paid to Landlordthe Landlord without demand, without deduction or offset, setoff at the address of Landlord specified in the Basic Lease Information its office or such agent or such other place as Landlord may designate by notice to Tenant in lawful money of the United States of America, except as set forth in Section 19.2. Rent shall be made payable to the following address (or to such other address as Landlord shall specify to Tenant in writing. The first monthly installment of Rental shall be paid on the Commencement Date): McMillan Investment Company 3003 W. Xxxxxxx Houston, except that if Commencement Date is a date other than the first day of a calendar monthTexas 77099 Xxxx: Xxx X. Xxxxx, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease shall be deemed to be other than on account of the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment as Rental be deemed a waiver of a breach of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereof.XXX

Appears in 1 contract

Samples: Industrial Lease (Egl Inc)

Rental. Section 5.01 Tenant covenants and agrees to pay to Landlord as Rental Rent for the Premises, in lawful money Subject ROFO Space shall commence upon the ROFO Space Commencement Date. Upon the ROFO Space Commencement Date: (A) the Net Rentable Area of the United States, 1/12 Premises shall be deemed increased by the Net Rentable Area of the Annual Base Rental, payable monthly Subject ROFO Space (as set forth in advance, without notice or demand, on the first day of each calendar month. In ROFO Notice) and all references in the event rent is not received by Landlord from Tenant Lease to the “Premises” shall mean the Premises as increased by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) Net Rentable Area of the Rental due. Rental Subject ROFO Space (except for purposes of Landlord’s obligation to deliver an ROFO Notice, “Premises” shall always mean the Premises as originally defined in the Lease and not as expanded pursuant to the ROFO), (B) the per annum Base Rent for the Premises shall be paid deemed increased by the Lease Rate or the Space Offer Rate (as such terms are hereinafter defined), as applicable, multiplied by the Net Rentable Area of the ROFO Space, with the per annum number divided by twelve (12) to Landlorddetermine the required increase to monthly Base Rent, without deduction or offset, at (C) Tenant’s Proportionate Share shall be adjusted based upon the address of Landlord specified increase in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment Net Rentable Area of Rental the Premises and Additional Rent due each month shall be paid on similarly adjusted. As used herein, the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental “Lease Rate” for the first and last fractional months any period of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum same per square foot of Annual Base Rental, and all other sums due hereunder by Tenant Net Rentable Area rate applicable to Landlord, whether or not expressly denominated as rent, and shall constitute Rental the original Premises for the purposes of Section 502(b)(6same period, as set forth in Paragraph l(j) of the Bankruptcy Code Lease (11 U.S.C. § 502(b)(6e.g., the Lease Rate is subject to all scheduled escalations)) unless . As used herein, the “Space Offer Rate” means the base rental rate provided for in the Space Offer. The Lease Rate shall be applicable with respect to Tenant’s lease of any Subject ROFO Space pursuant to any ROFO Notice given pursuant to a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed Space Offer received by Landlord prior to the Landlord. A service charge of ten percent (10%) end of the amount twelfth (12th) complete calendar month after the Early Occupancy Date. The Space Offer Rate shall be applicable with respect to Tenant’s lease of any checks returned stamped “NSF” will be due and payable, in addition Subject ROFO Space pursuant to the overdue installments any ROFO Notice given pursuant to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt a Space Offer received by Landlord of a lesser amount than after the monthly installment due under this Lease shall be deemed to be other than on account end of the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment as Rental be deemed a waiver of a breach twelfth (12th) complete calendar month of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover possession of Term after the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereofEarly Occupancy Date.

Appears in 1 contract

Samples: Lease Agreement (Accuro Healthcare Solutions, Inc.)

Rental. Section 5.01 Tenant covenants and agrees to pay and Landlord agrees to Landlord accept as Rental rental for the PremisesPremises the sum of: Dates Monthly Rent June 1, 2013 to December 31, 2013 $60,000.00 January 1, 2014 to May 31, 2023 $90,000.00 Renewal Options (See Section 4) Payments are to be payable in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly in advance, without notice advance on or demand, on before the first day of each calendar monthmonth during the Term (the “Base Rent”). Any other payments required to be made by Tenant to Landlord under this Lease, including, but not limited to, Rail Charges (as limited in accordance with Section 10), Tenant’s Share of Taxes, Tenant’s Share of Common Area Costs and Tenant’s Share of Insurance Costs, shall constitute “Additional Rent” (together with the Base Rent, the “Rent”). The first full monthly payment of Base Rent shall be payable upon execution of this Lease. In the event rent Tenant fails to pay any installment of Rent hereunder as and when such installment is not received by due and after any applicable cure period as provided in this Lease, to help defray the additional cost to Landlord from Tenant by the first day of each calendar monthfor processing such late payments, Tenant shall pay to Landlord on demand a late charge for special handling in an amount equal to five percent (5%) of such installment; and the Rental due. Rental failure to pay such amount within thirty (30) days after demand therefor shall be paid to Landlord, without deduction or offset, at the address an Event of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writingDefault hereunder. The first monthly installment of Rental provision for such late charge shall be paid on the Commencement Date, except that if Commencement Date is a date in addition to all of Landlord’s other than the first day of a calendar month, then the monthly Rental rights and remedies hereunder or at law or in equity and shall not be construed as liquidated damages or as limiting Landlord’s remedies under Section 36 hereunder in any manner. The Base Rent for the first and last fractional months of the Term shall be appropriately proratedadjusted annually, multiplied by the same percentage increase in the Consumer Price Index or CPI (all cities average). The term “Rental” as used herein means Should the sum of Annual Base Rental, and all other sums due hereunder by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) publication of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless CPI cease, Landlord shall designate a lesser amount substitute index and formula which will provide approximately the same results as permitted under said section is actually due the Consumer Price Index. In no event will Base Rent ever decrease from year to Landlord, which year and in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten no event increase more than five percent (105%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease shall be deemed to be other than on account of the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment as Rental be deemed a waiver of a breach of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereofeach year.

Appears in 1 contract

Samples: Building and Land Lease Agreement (Deep Down, Inc.)

Rental. Section 5.01 Tenant covenants The Company shall pay to the Port rental for the grain elevator at the times and in the amounts set forth in the payment schedule in Exhibit B which is attached hereto and made a part hereof, but the first payment of rental shall not be later than November 10, 1962. Any balance in the "Port of Kalama 1960 Construction Fund" transferred to the Bond Redemption Fund, shall be credited against the first rental payments due under Schedule B. IT IS AGREED that upon completion of the rental payments provided in Exhibit B no further rental shall be due or required to be paid by the Company during the original term of this lease. While there are revenue bonds outstanding for which payment has not been made to the County Treasurer of Cowlitz County, rental payments shall be made regardless of the extent, nature or scope of the use of the grain elevator during the term of the lease and regardless of any other happening or contingency whatsoever, including any default on the part of the Port, except as herein otherwise expressly provided in Sections 6 and 9, and such rental payments shall continue to be paid as provided in Exhibit B until the rental has been paid in full, except as otherwise expressly provided in Sections 6 and 9 hereof. Lessee's covenant to pay such rent shall be deemed for all purposes to be an independent covenant, provided, however, that if it shall be determined by a court of last resort having competent jurisdiction that the Company has been unlawfully or wrongfully evicted from the possession of the premises by the Port, or evicted by any other party having paramount title, the provisions of this paragraph shall not be applicable. The Port agrees, that upon the written request of the Company it will consider the issue of refunding bonds, and if the Port in the exercise of its sole discretion deems such action advisable it will take such action as may be necessary to authorize and issue refunding revenue bonds for the purpose of paying off the outstanding original revenue bonds, which were used to provide the funds for the construction of the Grain Elevator (hereinafter sometimes referred to as revenue bonds or outstanding revenue bonds), all in accordance with the laws of the State of Washington authorizing the issuance of refunding revenue bond issues. All expenses incurred by the Port shall be included as a part of the principal sum of the refunding issue. If, at the time refunding revenue bonds are issued and such issue involves different payments to service the same than the payments set forth in Exhibit B, such different schedule of payments shall constitute the rental which the Company agrees to pay to Landlord as Rental for the Premises, in lawful money use of the United States, 1/12 of the Annual Base Rental, payable monthly in advance, without notice or demand, on the first day of each calendar month. In the event rent is not received by Landlord from Tenant by the first day of each calendar month, Tenant Grain Elevator and shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall at such time be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental substituted for the first and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which payments set forth in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease shall be deemed to be other than on account of the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment as Rental be deemed a waiver of a breach of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereofExhibit B attached hereto.

Appears in 1 contract

Samples: Agreement (Harvest States Cooperatives)

Rental. Section 5.01 Tenant covenants and agrees to pay to Landlord as Rental As rental for the lease and use of the Premises, Tenant will pay Landlord or Landlord’s assigns, at the address of Landlord specified in Section 1.B. hereof, without demand and without deduction, abatement or setoff (except as otherwise expressly provided for herein), the Base Rental in the manner specified in Section x.X. hereof, in lawful money of the United States, 1/12 . If the Term of the Annual Base Rental, payable monthly in advance, without notice or demand, this Lease does not commence on the first day of each calendar month. In the event rent is not received by Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then Tenant shall pay to Landlord in advance a pro rata part of such sum as rental for such first partial month. Tenant shall not pay any installment of rental more than one (1) month in advance. All past due installments of rental or other payment specified herein shall bear interest at the monthly Rental for highest lawful rate per annum from the first date due until paid. In addition, Tenant hereby acknowledges that late payment of rent and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder will cause Landlord to incur costs and other financial hardships 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 mortgage or trust deed covering the Building. Accordingly, if any installment of rent or any other sum due from Tenant to shall not be received by Landlord or Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6’s designee within ten (10) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser days after such amount shall constitute Rental owed be due, Tenant shall pay to the Landlord. A service Landlord a late charge of equal to ten percent (10%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the amount 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 payment, nor be construed as liquated damages, nor prevent Landlord from exercising any checks returned stamped “NSF” will of the other rights an remedies granted hereunder. The failure of Tenant to pay such charge as herein stated shall, at Landlord’s option, be due and payablean Event of Default hereunder. If Tenant fails to timely pay two (2) consecutive installments of Base Rental, or other payment specified herein, or any combination thereof, Landlord may require Tenant to pay (in addition to any interest) Base Rental and other payments specified herein (as estimated by Landlord, if necessary) quarterly in advance, and, in such event, all future payments shall be made on or before the overdue installments to cover Landlorddue date in cash or by cashier’s extra cost check or money order, and expense in handling and processingthe delivery of Tenant’s personal or corporate check shall no longer constitute payment thereof. No payment by Tenant Any acceptance of Tenant’s personal or receipt corporate check thereafter by Landlord of a lesser amount than the monthly installment due under this Lease shall not be deemed to be other than on account of the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment construed as Rental be deemed a waiver of a breach of the Lease Agreement requirement that such payments be made in cash or an accord and satisfaction, and Landlord may accept such by cashier’s check or payment without prejudice money order. Any amount so estimated by Landlord and paid by Tenant shall be adjusted promptly after actual figures become available and paid or credited to Landlord’s right to recover possession of Landlord or Tenant, as the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereofcase may be.

Appears in 1 contract

Samples: Lease Agreement (Rave Restaurant Group, Inc.)

Rental. Section 5.01 Tenant covenants and agrees to shall pay to Landlord as Rental for the PremisesTotal Rent set forth in General Terms above by making the Periodic Installment Payments set out in the General Terms above. The Periodic Installment Payments shall be payable by Tenant to Landlord in advance without demand, abatement, or set-off,payable to and by mail to Xxxxxx Farm, LLC, X.X. Xxx 0000, Xxxxxxxxx XX 00000. All other sums due from Tenant to Landlord under this Lease Agreement or under any other written agreement between Landlord and Tenant related to Xxxxxx's occupancy at the Community will be considered additional rent hereunder, and any payments made by Tenant to Landlord pursuant to this Lease Agreement, in lawful money of the United StatesLandlord's discretion, 1/12 of the Annual Base Rental, payable monthly in advance, without notice may be applied to any outstanding or demand, on the first day of each calendar month. In the event delinquent additional rent is not received by Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder by or under any other written agreement between Landlord and Tenant before being applied to delinquent Periodic Installment Payments hereunder. Payment of any sums due from Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease Agreement, including without limitation, Periodic Installment Payments and additional rent, shall be deemed made by check, cashier's check, money order or other traceable or negotiable instrument. Landlord, from time to time, in Xxxxxxxx's sole discretion, may accept or require individual or recurring automated payments by credit card, debit card or ACH transfer. Payments by credit or debit will incur an additional 3% service charge per payment. Xxxxxx agrees to furnish to Landlord such information and authorization as requested by Landlord to facilitate such payments and to maintain such available credit or funds as necessary to timely fund such payments. Landlord shall not be other than on account obligated to accept cash payments. Tenant acknowledges that the Total Rent is due even though the Term does not encompass a full 365 days, unless the Term is extended as set forth in Section 3 above. Tenant further acknowledges that the Periodic Installment Payments are intended as installment payments of the earliest Rental Total Rent and are apportioned into installments for the benefit of the Tenant, and, further, that payment of any Periodic Installment Payments does not entitle Tenant to possession of the Premises for any period of time not included in the Term. If Tenant holds over and fails to move out on or before the date and time required under this Lease Agreement, then, without limiting Landlord's remedies under Applicable Law and this Lease Agreement, Landlord may elect to consider Tenant a "Holdover Tenant" and Tenant agrees, in such instance, that the rent due hereunder, nor during the holdover period shall any endorsement be thirty-five ($35.00) dollars per day until occupancy is re-delivered to Landlord. Xxxxxxxx's acceptance of rent or statement on any check or payment as Rental be deemed other amounts owed by Tenant during such holdover period shall not constitute a waiver of a breach of the Landlord's right to terminate Tenant's possession under this Lease Agreement without advance notice. In addition to any rents due during the holdover tenancy, Tenant shall and does hereby indemnify and defend Landlord for any damages or an accord and satisfactionliabilities incurred due to such holdover (including consequential damages for Landlord's inability to lease or deliver the Premises to another tenant), and and, at Landlord's option, Landlord may accept such check or payment without prejudice extend the Term for an additional one month by delivering written notice to Tenant while Tenant is still holding over. Holdover rents shall be immediately due on a daily basis in advance to Landlord’s right . Nothing contained herein shall be construed as Landlord's consent to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereofa holdover tenancy.

Appears in 1 contract

Samples: Lease Agreement

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Rental. Section 5.01 Tenant covenants The monthly rental payable hereunder is as set forth in the Equipment Schedule(s). Rental shall begin to accrue on the Installation Date for each item of Equipment and agrees to pay to Landlord as Rental for the Premises, shall be due and payable by Lessee in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly in advance, without notice or demand, advance on the first day of each calendar month. In If the event rent is Installation Date does not received by Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid fall on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the rental for that period of time from the Installation Date until the Commencement Date shall be an amount equal to the Daily Rental multiplied by the number of days from (and including) the Installation Date to (but not including) the Commencement Date and shall be due and payable on the Installation Date. In addition to the monthly Rental rental set forth in the Equipment Schedule(s), Lessee shall pay to Lessor an amount equal to all taxes paid, payable or required to be collected by Lessor, however designated, which are levied or based on the rental, on the Lease or on the Equipment or on its purchase for the first lease hereunder, or on its use, lease, operation, control or value (including, without limitation, state and last fractional months local privilege or excise taxes based on gross revenue), any penalties or interest in connection therewith which are attributable to Lessee's negligence or taxes or amounts in lieu thereof paid or payable by Lessor in respect of the Term foregoing, but excluding taxes based on Lessor's net income. Personal property taxes assessed on the Equipment during the term hereof shall be appropriately proratedpaid by Lessee. The term “Rental” as used herein means Lessee agrees that Lessor, or Lessor's agent shall file all required property tax returns and reports and pay all taxes thereon pertaining to the sum Equipment. In such event, Lessee shall reimburse Lessor or Lessor's agent for all costs and expenses incurred in connection therewith, provided that such costs and expenses (including property taxes) shall not exceed the property taxes pursuant to statutory tax rates and regulations. If requested by Lessor, Lessee agrees to file, on behalf of Annual Base RentalLessor, all required property tax returns and reports concerning the Equipment with all appropriate governmental agencies, and, within not more than thirty (30) days after the due date of such filing to send Lessor confirmation of such filing. Interest on any past due payments, including but not limited to administrative charges and any other sums due hereunder charges or fees arising out of or related to this Lease, shall accrue at the rate of 1 1/2% per month, or if such rate shall exceed the maximum rate allowed by Tenant to Landlordlaw, whether or not expressly denominated as rentthen at such maximum rate, and shall constitute Rental be payable on demand. Charges for taxes, penalties and interest shall be promptly paid by Lessee when invoiced by Lessor. As security for the purposes full performance of Section 502(b)(6) all of Lessee's obligations under each Equipment Schedule, Lessee shall, simultaneously with the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlordexecution and delivery of each Equipment Schedule, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of deposit with Lessor the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processingset forth on such Equipment Schedule. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease The security deposit shall be deemed promptly returned to be other than on account of Lessee by Lessor upon the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment as Rental be deemed a waiver of a breach of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover possession of the Premise and/or the balance expiration of such Rental Equipment Schedule and return or pursue any other remedy purchase of all Equipment, as the case may be, provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereofthat all Lessee obligations under such Equipment Schedule have been fulfilled.

Appears in 1 contract

Samples: Master Lease Agreement (Webstakes Inc)

Rental. Section 5.01 A. Tenant covenants and agrees to pay fixed rent ("Fixed Rent") to Landlord without notice, by check sent to Landlord at such address as Rental for shall be provided by Landlord to Tenant, provided that such check shall be received by Landlord in sufficient time that the Premisesfunds will be received by the Fixed Rent due date, or to such other persons or place as may be provided by written notice from the person then entitled to receive the Fixed Rent, in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly equal installments in advance, without notice advance on or demand, on before the first day of each calendar month. In the event rent is not received by Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord month as specified in the Basic Lease Information or such other place as Landlord may designate in writingInformation. The first monthly installment of Rental If Fixed Rent is not paid when due, interest shall be paid on accrue thereon at the Commencement Date, except Overdue Rate until payment is made. Tenant hereby acknowledges that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder late payment by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment Fixed Rent, Additional Rent and other sums due under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges, which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Fixed Rent or any other sum due to Landlord from Tenant shall not have been received by Landlord or Landlord's designee within fifteen (15) days after such amount shall be deemed due, then, without any requirement for notice to be other than Tenant, Tenant shall pay to Landlord a late charge equal to two percent (2%) of such overdue amount, together with interest on account such overdue amount at the Overdue Rate. The parties agree that such late charge represents a fair and reasonable estimate of the earliest Rental due hereunder, nor costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall any endorsement or statement on any check or payment as Rental be deemed in no event constitute a waiver of a breach Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the Lease Agreement or an accord other rights and satisfaction, and remedies granted hereunder; provided that nothing contained herein shall relieve Landlord may accept such check or payment without prejudice of a duty to Landlord’s right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by mitigate damages under applicable law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereof.

Appears in 1 contract

Samples: Lease Agreement (Caterair International Inc /Ii/)

Rental. Section 5.01 In the event of the cancellation or termination of this Lease Agreement, and in the event that the Parties agree to reinstate and / or conclude an addendum to this Lease Agreement, the Tenant covenants hereby agrees to the Landlord conducting a further credit check and agrees to be liable for all credit check fees. DEPOSIT [ Ask TPN: 157 ] The Deposit is the amount set out in item 1.9. The Tenant will pay the Deposit on the Signature Date. When this Lease Agreement terminates, the Landlord may use the Deposit, together with any interest accumulated thereon, to pay all amounts which the Tenant is liable for in terms of this Lease Agreement, including the reasonable costs of repairing any damage caused to the Premises as contemplated in clause 14.4, the cost of replacing lost keys, any arrear Rental that was not paid by the Tenant and any other outstanding amounts for which the Tenant is liable under this Lease Agreement. The Deposit will be placed in an interest-bearing account with a financial institution. When this Lease Agreement terminates, after deducting any amounts owed by the Tenant in terms of any provision of this Lease Agreement the Landlord shall pay any remainder of the Deposit to the Tenant, together with any interest accrued thereon at the applicable rate, within 14 (Fourteen) days of restoration of the Premises. If the Deposit is paid to the Agent and not to the Landlord, the Agent will invest the Deposit in accordance with the provisions of the EAAA. Any interest earned on the Deposit will be paid out in the manner set out in item 1.9, as read with the provisions of the EAAA. For the subsistence of this Lease Agreement, the Deposit at all times belongs to the Tenant and may only be utilised by the Landlord or Agent, as the case may be, upon termination of the Lease Agreement, in accordance with the provisions of any and all relevant legislation. If, during the subsistence of the Lease Agreement (including the Initial Period, any fixed-term renewal period, or where the Lease Agreement continues on a Month-to-Month basis) there is any increase in the Rental, the Tenant shall be required to supplement the Deposit to ensure that the Deposit is proportionate to the increased Rental. The Tenant is not permitted to request the Landlord to use the Deposit to cover any Rental for which the Tenant owes at any time during the subsistence of the Lease Agreement. Should this Lease Agreement be subject to the suspensive condition set out in item 1.9, the Lease Agreement shall commence upon payment of the Deposit. Should the Tenant fail to pay the Deposit by the due date, this Lease Agreement shall be of no force and effect and neither Party shall have any claim whatsoever against the other Party. The Tenant hereby acknowledges and agrees that the Deposit set out in item 1.9, may be ceded to another duly registered estate agent who has been mandated to collect Rental or any other amounts due and owing to the Landlord in terms of this Lease Agreement. Deposit administration fee of 1% will be charged on total deposit amount before refunding the deposit. INSPECTION OF THE PREMISES [ Ask TPN: 158 ] The Tenant and the Landlord or the Agent (as the case may be) will inspect the Premises together, before the Tenant takes occupation of the Premises, to determine whether there is any existing damage or defects to the Premises. Any damage and / or defect will be recorded in lawful money Writing, signed by the Landlord or the Agent (as the case may be) and the Tenant, and attached as an Annexure to this Lease Agreement. The Tenant, by way of this inspection, acknowledges that the Premises is fit for beneficial occupation. The recordal of any defect or damage in Writing does not constitute an acknowledgment by the Landlord to have the defect or damage remedied. The recordal is simply an acknowledgment that that defect or damage exists, and that the defect or damage was not caused by the Tenant. If the Tenant discovers any damage or defect to the Premises after the inspection referred to in clause 14.1, the Tenant shall notify the Landlord, in Writing, of such damage or defect within 7 (Seven) days of the United States, 1/12 date of the Annual Base Rentaldiscovery thereof. The Landlord shall supply the Tenant with a Written acknowledgment confirming that such damage or defects exist and shall be entitled to inspect such damage or defect with reasonable notice to the Tenant. Within 3 (Three) days prior to the Termination Date, payable monthly either the Landlord or the Agent (as the case may be) and the Tenant will inspect the Premises together to determine if any damage was caused to the Premises or the furniture (in advancethe event that the Premises contains the Landlord’s furniture) during the subsistence of this Lease Agreement (including any renewal periods). If the Tenant fails to attend the inspection, the Landlord shall be entitled to inspect the Premises at any time within 7 (Seven) days of the Termination Date, without the Tenant, in order to determine whether any damage was caused to the Premises during the subsistence of the Lease Agreement. The Landlord shall be entitled to: deduct any amount from the Deposit required to repair any damage caused to the Premises; and charge the Tenant for any amount over and above the value of the Deposit, if the cost of repairing the damage amounts to more than the total amount of the Deposit. MAINTENANCE AND REPAIR WORK [ Ask TPN: 159 ] The Tenant must timeously complete any repair work for which he is responsible under this Lease Agreement. If the Tenant fails to do so, the Landlord shall be entitled to have such work completed by a third party and may claim any costs incurred in respect of the completion of such work from the Tenant. If the Tenant discovers that maintenance or repair work needs to be done which the Tenant is not responsible for in terms of this Lease Agreement, the Tenant shall inform the Landlord, in Writing, as soon as is reasonably possible after he learns that such work needs to be done. If the Tenant fails to do so, the Landlord shall be entitled to have such work completed by a third party and may claim any costs incurred in respect of the completion of any such work from the Tenant. Should the Agent be contacted to attend to, or arrange for a contractor or service provider to attend to, any maintenance and / or repair work at the Premises, the Landlord or Tenant (depending on whose responsibility it is) shall pay the Agent the surcharge amount set out in item 1.15 for attending to this. REASONABLE ACCESS TO THE PREMISES BY THE LANDLORD [ Ask TPN: 160 ] The Landlord, the Agent and their agents and / or contractors may require access to the Premises from time to time in order to inspect the Premises, or to make repairs, alterations, additions, modifications or improvements to the Premises. The Tenant agrees to give the Landlord, the Agent and their agents and / or contractors access to the Premises for the purposes referred to in clause 16.1, provided that the Landlord or Agent (as the case may be) gives the Tenant reasonable notice or demand, on of the first day of each calendar monthneed for such access. In the event rent is not received by Landlord from Tenant by that emergency work needs to be done at the first day of each calendar monthPremises, the Tenant shall pay a late charge for special handling equal be required to five percent give the Landlord, the Agent, its agents and / or contractors immediate access to the Premises. GENERAL OBLIGATIONS OF THE TENANT [ Ask TPN: 162 ] The Tenant must: at his own cost look after the Premises (5%) including any garden, pool, equipment and / or gates), and ensure that the Premises is kept clean and in good order and condition; at his own cost maintain and keep the roof and gutters clean and free from blockages; regularly clean the inside of the Rental duePremises, including the carpets, floor coverings and tiles; use, in a reasonable manner, all electrical, plumbing, sanitary, heating, ventilating and air-conditioning facilities and appliances; at his own costs replace all Short Term Consumables and also at his own costs to maintain, replace and / or repair all water-bearing taps, stoves, locks, handles, windows, heating and air-conditioning facilities and appliances; at his own cost have the carpets and the furniture (where applicable) cleaned by a professional carpet cleaning company prior to the Termination Date, to the satisfaction of the Landlord. Rental shall be paid to LandlordIf the Landlord is unhappy with the state of the carpets and / or the furniture (if applicable), without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment appoint its own professional cleaning company to clean the carpets and / or the furniture (where applicable) and may claim the costs of Rental shall be paid on such cleaning from the Commencement DateTenant; repair or replace any broken, except that if Commencement Date is a date other than damaged or missing items within the first day of a calendar month, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed Premises belonging to the Landlord. A service charge of ten percent (10%) of , unless these items were recorded as being broken, damaged or missing at the amount inspection referred to in clause 14; take all reasonable steps to prevent any blockage and / or obstruction of any checks returned stamped “NSF” will drains, sewage pipes and / or water pipes in or used in connection with the Premises; respect the rights of use and enjoyment of neighbours; comply with all laws and regulations relating to the Premises, it is specifically recorded that if the Landlord is fined or penalised because the Tenant has breached any law or regulation, the Landlord shall be entitled to recover any costs associated with such breach from the Tenant; ensure that the Premises are occupied by no more than the number of people set out in item 1.28; make payment of all amounts to which the Landlord is legally entitled as and when such amounts are due and payable; return the Premises at the termination of this Lease Agreement in the same order and condition in which it was received, in addition Fair Wear and Tear excepted; return the keys to the overdue installments Landlord by latest on the date and at the time set out in item 1.26; ensure that should Smoking be permitted on the Premises as set out in item 1.6, such Smoking will not cause any damage to cover the Premises, regardless of whether the person Smoking is the Tenant, any further occupant of the Premises or any visitor of the Tenant; ensure that should Smoking not be permitted on the Premises, as set out in item 1.6, no person, including the Tenant, any further occupant of the Premises or any visitors of the Tenant will Smoke on the Premises; ensure that, should the Tenant be permitted to keep pets on the Premises as set out in item 1.7 that such pets do not cause any damage to any movable or immovable property located on the Premises, including the garden, if applicable; ensure that, should no pets be permitted to enter the Premises in accordance with item 1.7 of the Schedule, then no pets, including pets belonging to visitors of the Tenant will enter the Premises at any time and for any reason whatsoever; ensure that, should the Tenant or any other person Smoke or have Smoked on the Premises, the Tenant shall at its own cost, and using professional cleaners or fumigators, restore the Premises to the pre-smoking condition; ensure that, should pets be kept or have been kept on the Premises, the Tenant shall at its own cost, using professional cleaners or fumigators, restore the Premises to the pre-pet condition; ensure that visitors to the Premises park only in the designated visitors parking spaces that may be applicable to the Premises; and at all times maintain adequate insurance in respect of all movable property brought onto the Premises, which shall include all parking bay(s) set out in item 1.5, by an insurance company of the Tenant’s choice and make prompt and regular payment of all insurance premiums in respect of such insurance. The Tenant hereby specifically acknowledges and agrees that the Landlord shall in no way be liable for any damage caused, for whatever reason, to any movable property brought onto the Premises, including all parking bay(s), by the Tenant; ensure that the Premises remains free from pests and will effect pest control on a regular basis, including fumigation and pest maintenance. The Landlord however warrants that the Premises is pest free at the inception of the Lease Agreement. notify the Landlord of any changes to any locks to the Premises and provide the Landlord with keys to the changed locks within 24 (Twenty-Four) hours of such locks being changed; The Tenant must not: sublet the Premises or allow any third party to reside in or occupy the Premises without the prior Written consent of the Landlord; allow any refuse to accumulate inside or outside the Premises, save as in rubbish bins; make any structural changes or additions to the Premises; stick adhesive picture holders onto or into, or otherwise deface the walls of the Premises; drive nails or other objects into any portion of the Premises; paint the interior or exterior of the Premises without first obtaining the prior Written consent of the Landlord; interfere with the electrical, plumbing or gas system in the Premises, unless the Tenant is doing maintenance which is permitted in terms of this Lease Agreement; use any gadgets or tools or keep any liquids which may explode and cause the insurance policy of the Landlord to be questioned by the Landlord’s extra cost and expense in handling and processing. No payment by Tenant insurers; hang or receipt by Landlord place any signs, notices or advertisements anywhere inside or outside the Premises without the prior Written consent of a lesser amount than the monthly installment due under Landlord; remove any of the Tenant’s furniture or other movable property during the subsistence of this Lease Agreement, as legally such property can be sold by the sheriff of the court in the event that the Tenant does not pay the Rental in accordance with the provisions of this Lease Agreement; or make any improvements or installations to the Premises without the prior, Written consent of the Landlord (which consent shall not be unreasonably withheld); provided that the Tenant specifically acknowledges and agrees that upon termination of the Initial Period (or any subsequent renewal period) any improvements made by the Tenant with the consent of the Landlord shall be deemed to be other than on account the property of the earliest Rental due hereunderLandlord, nor shall unless otherwise agreed to in writing between the Parties. VISITORS OF THE TENANT The Tenant must use his best endeavours to ensure that visitors to the Premises at all times comply with the provisions of this Lease Agreement and the Rules, including, but not limited to: bringing to the attention of such visitors the relevant provisions of this Lease Agreement and / or the Rules; requesting any endorsement or statement on any check or payment as Rental be deemed a waiver of a person who is in breach of the provisions of this Lease Agreement and / or an accord the Rules to immediately remedy such breach; and satisfaction, and Landlord may accept such check or payment without prejudice refusing to Landlord’s right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in allow persons who have previously breached this Lease Agreement and / or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from Rules access to the date on which the same became due until the date of payment thereofPremises if they are likely to commit another breach.

Appears in 1 contract

Samples: Residential Lease Agreement

Rental. Section 5.01 Tenant covenants and agrees to pay to Landlord as Rental for the Premises, in lawful money of the United States, 1/12 of the Annual Base RentalRental specified in the Basic Lease Information, payable monthly in advance, without notice or demand, on the first day of each calendar month. In the event rent is not received by Landlord from Tenant by the first day of each calendar monthany late payments, Tenant shall agrees to pay a late charge for special handling equal to five percent (5%) % of the Rental due. due Rental Exhibit 10.1 shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term "Rental" as used herein means the sum of Annual Base Rental, Parking Rental (as defined in EXHIBIT C hereof) and all other sums due hereunder by Tenant to Landlordsums, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6502(b)(7) of the Bankruptcy Code (11 U.S.C. § 502(b)(6502(b)(7)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) % of the amount of any checks returned stamped "NSF" will be due and payable, in addition to the overdue installments to cover Landlord’s 's extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease shall be deemed to be other than on account of the earliest Rental due hereunder, nor shall any endorsement or statement on any check or payment as Rental be deemed a waiver of a breach of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s 's right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereof.

Appears in 1 contract

Samples: Office Lease Agreement (Select Medical Corp)

Rental. Section 5.01 Tenant covenants and agrees to shall pay to Landlord as Rental for the PremisesTotal Rent set forth in General Terms above by making the Periodic Installment Payments set out in the General Terms above. The Periodic Installment Payments shall be payable by Tenant to Landlord in advance without demand, abatement, or set-off,payable to and by mail to Xxxxxx Farm, LLC, X.X. Xxx 0000, Xxxxxxxxx XX 00000. All other sums due from Tenant to Landlord under this Lease Agreement or under any other written agreement between Landlord and Tenant related to Tenant's occupancy at the Community will be considered additional rent hereunder, and any payments made by Tenant to Landlord pursuant to this Lease Agreement, in lawful money of the United StatesLandlord's discretion, 1/12 of the Annual Base Rental, payable monthly in advance, without notice may be applied to any outstanding or demand, on the first day of each calendar month. In the event delinquent additional rent is not received by Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental for the first and last fractional months of the Term shall be appropriately prorated. The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder by or under any other written agreement between Landlord and Tenant before being applied to delinquent Periodic Installment Payments hereunder. Payment of any sums due from Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment due under this Lease Agreement, including without limitation, Periodic Installment Payments and additional rent, shall be deemed made by check, cashier's check, money order or other traceable or negotiable instrument. Landlord, from time to time, in Landlord's sole discretion, may accept or require individual or recurring automated payments by credit card, debit card or ACH transfer. Payments by credit or debit will incur an additional 3% service charge per payment. Tenant agrees to furnish to Landlord such information and authorization as requested by Landlord to facilitate such payments and to maintain such available credit or funds as necessary to timely fund such payments. Landlord shall not be other than on account obligated to accept cash payments. Tenant acknowledges that the Total Rent is due even though the Term does not encompass a full 365 days, unless the Term is extended as set forth in Section 3 above. Tenant further acknowledges that the Periodic Installment Payments are intended as installment payments of the earliest Rental Total Rent and are apportioned into installments for the benefit of the Tenant, and, further, that payment of any Periodic Installment Payments does not entitle Tenant to possession of the Premises for any period of time not included in the Term. If Tenant holds over and fails to move out on or before the date and time required under this Lease Agreement, then, without limiting Landlord's remedies under Applicable Law and this Lease Agreement, Landlord may elect to consider Tenant a "Holdover Tenant" and Tenant agrees, in such instance, that the rent due hereunder, nor during the holdover period shall any endorsement be thirty-five ($35.00) dollars per day until occupancy is re-delivered to Landlord. Landlord's acceptance of rent or statement on any check or payment as Rental be deemed other amounts owed by Tenant during such holdover period shall not constitute a waiver of a breach of the Landlord's right to terminate Tenant's possession under this Lease Agreement without advance notice. In addition to any rents due during the holdover tenancy, Tenant shall and does hereby indemnify and defend Landlord for any damages or an accord and satisfactionliabilities incurred due to such holdover (including consequential damages for Landlord's inability to lease or deliver the Premises to another tenant), and and, at Landlord's option, Landlord may accept such check or payment without prejudice extend the Term for an additional one month by delivering written notice to Tenant while Tenant is still holding over. Holdover rents shall be immediately due on a daily basis in advance to Landlord’s right . Nothing contained herein shall be construed as Landlord's consent to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in this Lease or by law, unless otherwise waived in writing by Landlord. All rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereofa holdover tenancy.

Appears in 1 contract

Samples: Lease Agreement

Rental. Section 5.01 (a) Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as Rental for otherwise expressly provided herein, the Premises, in lawful money of the United States, 1/12 of the Annual Base Rental, and all such other sums of money as shall become due hereunder as additional rent, all of which are sometimes herein collectively called “rent.” In the event of nonpayment of any rent, Landlord shall be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base Rental. Except as otherwise provided herein, the annual Base Rental for each calendar year or portion thereof during the Lease Term, together with Tenant’s Pro Rata Share of any Excess Basic Costs payable monthly pursuant to Exhibit “C” hereof, shall be due and payable in advance, without notice or demand, advance in twelve (12) equal installments on the first day of each calendar month. In month during the event rent is not received by initial Term of this Lease and any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rental and any adjustments thereto to Landlord from Tenant by the first day of each calendar month, Tenant shall pay a late charge for special handling equal to five percent at Landlord’s address provided herein (5%) of the Rental due. Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease Information or such other place address as may be designated by Landlord may designate in writingwriting from time-to-time) monthly, in advance, and without notice or demand. The first monthly installment If the Term of Rental shall be paid this Lease commences on the Commencement Date, except that if Commencement Date is a date day other than the first day of a calendar month or terminates on a day other than the last day of a month, then the monthly installments of Base Rental and any adjustment thereto for such month or months shall be prorated, based on the number of days in such month. The Base Rental for the first and last fractional months of the Term partial month, if any, shall be appropriately proratedpayable at the beginning of said period. The term “Rental” as used herein means the sum of Annual Base Rental, All such payments shall be by a good and all other sums due hereunder by Tenant sufficient check (subject to collection) drawn on a bank reasonably acceptable to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord. A service charge of ten percent (10%) of the amount of any checks returned stamped “NSF” will be due and payable, in addition to the overdue installments to cover Landlord’s extra cost and expense in handling and processing. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the monthly correct installment of rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rental rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as Rental be deemed a waiver of a breach of the Lease Agreement or an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover possession of the Premise and/or the balance of such Rental or pursue any other remedy provided in by this Lease or applicable law. The acceptance by lawLandlord of an installment of rent on a date after the due date of such payment shall not be construed to be a waiver of Landlord’s right to declare a default for any other late payment. If Tenant fails to timely pay any three (3) installments of rent, unless otherwise waived in writing Landlord at its sole option may (i) require Tenant to pay rent (as estimated by Landlord, if necessary) quarterly in advance, and, in such event, all future payments shall be made on or before the due date in cash or by cashier’s check or money order, and the delivery of Tenant’s collectible personal or corporate check shall no longer constitute payment thereof, or (ii) Landlord. may require that Tenant deposit an additional Security Deposit equal to three (3) months rent, from which Landlord, at his or her sole discretion, may satisfy any future late payments made by Tenant, and Tenant shall be required to maintain such additional Security Deposit levels throughout the remaining Term as described in subsection (ii) above, then Tenant shall have five (5) days to deposit such additional Security Deposit as required above. Nothing in this section shall relieve Tenant from its duties to pay Late Charges (as defined below). Any acceptance of Tenant’s collectible personal or corporate check thereafter by Landlord shall not be construed as a waiver of the requirement that such payments be made in cash or by cashier’s check or money order. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid rent in arrears shall bear interest at the Stipulated Rate of Interest of one and one half percent (1.5%) per month from the date on which the same became due until the date of payment thereofthen outstanding.

Appears in 1 contract

Samples: Work Letter Agreement (Borland Software Corp)

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