Annual Minimum Rent. Annual minimum rent for the Property (“Minimum Rent”) shall be Two Hundred Thousand and 00/100 ($200,000.00) Dollars per annum, payable in consecutive monthly installments of Fifty Thousand and 00/100 ($50,000.00) Dollars beginning on the first day of January, 2006, and continuing on the first day of February March and April without deduction or set-off, at the office of the Landlord. In subsequent years, the entire Minimum Rent shall be paid in four (4) consecutive monthly payments beginning on the first day of January of each year. The amount due each month will be twenty-five (25%) percent of the total annual Minimum Rent due, adjusted as described in paragraph 3(d).
Annual Minimum Rent. XXXXXX agrees to pay to CITY a minimum guaranteed annual rental for the use and occupancy of the Premises, in an initial amount of $ per year (the "Minimum Rent"), payable in advance and at the option of TENANT either in equal semiannual installments or equal monthly instalments. If paid in equal semiannual installments, then such installments must be on January 1 and July 1 each year during the term of the Lease. If the Commencement Date is other than January 1 or July 1, then TENANT must pay, on the Commencement Date, the proportionate amount of the Minimum Rent payable for the period from the Commencement Date until the next payment date of January 1 or July 1, as the case may be. If the term of the Lease expires on a date other than December 31 or June 30, then TENANT'S final installment of Minimum Rent must be proportionate to the time remaining in the term. If paid in equal monthly installments, then each\ monthly installment must be paid no later than the tenth day of each applicable month. All Rent, including the Minimum Rent and the Percentage Rent, must be paid in lawful money of the United States of America, without offset or deduction and must be paid to CITY at City Hall located at 000 Xxxxxx Xxxxxx, Xxxxx Xxx, Xxxxxxxxxx, or at such other place or places CITY may from time to time designate by written notice delivered to TENANT.
Annual Minimum Rent. The Annual Base Rent for the 3 TEK Expansion Space to be paid by Tenant shall be calculated in accordance with the following:
Annual Minimum Rent. (a) For each year during the initial ten (10) years of the term of the Lease (i.e., through June 30, 2006), annual minimum rent shall be $140,652 per year, payable $11,721 per month.
Annual Minimum Rent. The Tenant shall pay, without prior notice or demand, the Annual Minimum Rent specified in Section 1.1 hereof, in equal monthly installments in advance on the first day of each calendar month included in the Lease Term. Annual Minimum Rent for the first full month of the Lease Term which occurs after the expiration of any rent-abatement, free or reduced rent period shall be paid at the time of Tenant’s execution of this Lease if not previously delivered. Annual Minimum Rent for any initial partial calendar month shall be payable on delivery of the Premises. Tenant acknowledges that late payment by Tenant to Landlord of Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which would be extremely difficult and impractical to ascertain. Such costs include, but are not limited to, processing and account charges, and late charges, which may be imposed on Landlord by the terms of any Mortgage encumbering the Premises. Therefore, in the event any installment of Rent or any sum due hereunder is not paid within five (5) business days after such amount is due, Tenant shall pay to Landlord as Additional Rent, a late charge equal to five percent (5%) of each such installment or other sum or Twenty Five ($25.00) Dollars per month, whichever is greater. A sum of Fifteen ($15.00) Dollars shall also be due from and paid by Tenant to Landlord for each returned check, and Tenant shall pay a charge of One Hundred Fifty Dollars ($150.00) for preparation of a demand for delinquent rent in addition to all other sums due by Tenant under this Lease. Notwithstanding the above, Tenant shall be allowed one (1) late payment due to accounting error for every 24-month period of the Lease Term, without penalty.
Annual Minimum Rent. (A) Lessee agrees to pay to Lessor an annual minimum rent (hereinafter “Annual Minimum Rent” or “AMR”) as hereinafter set forth, said Annual Rent to be paid in monthly installments, in advance, at the payment address of Lessor, without deduction, setoff, demand or notice, in lawful money of the United States of America, on the first (1st) day of each month of the Term hereof and any renewals or extensions thereof, in sums as set forth below. Lessee shall pay the first (1st) monthly installment upon execution of this Lease. If the Commencement Date of this Lease occurs on a day other than the first (1st) day of a calendar month, then the first (1st) monthly installment paid upon execution of this Lease shall be applied to the second (2nd) full calendar month following the Commencement Date. Lessee shall either remit to Lessor the per diem prorated amount of any partial first month following the Commencement Date immediately upon the establishment of the Commencement Date or shall include such prorated amount in the payment of the second monthly installment of Annual Minimum Rent. 725 Square Feet Lease Year Annual Amount Monthly Amount Amount PSF 1 $ 10,150.00 $ 845.83 $ 14.00 2 $ 10,454.50 $ 871.21 $ 14.42
Annual Minimum Rent. 2 Additional Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annual Minimum Rent. Commencing on the Commencement Date, Tenant shall pay to Landlord Annual Minimum Rent in the manner and at the times set forth in Section 4 of the Lease and in the amounts set forth below, without demand, deduction or setoff, except as expressly provided in the Lease. Period Annual Minimum Rent per Rentable Square Foot Annual Minimum Rent Monthly Installments of Minimum Rent 12/1/07 to 11/30/08 $ 15.50 $ 334,133.50 $ 27,844.46 12/1/08 to 11/30/09 $ 15.97 $ 344,265.29 $ 28,688.77 12/1/09 to 11/30/10 $ 16.45 $ 354,612.65 $ 29,551.05 12/1/10 to 11/30/11 $ 16.94 $ 365,175.58 $ 30,431.30 12/1/11 to 11/30/12 $ 17.45 $ 376,169.65 $ 31,347.47 12/1/12 to 11/30/13 $ 17.97 $ 387,379.29 $ 32,281.61 12/1/13 to 11/30/14 $ 18.51 $ 399,020.07 $ 33,251.67 12/1/14 to 12/31/14 $ 19.07 $ 411,091.99 $ 34,257.67 Notwithstanding anything to the contrary (including the foregoing rent table), provided that Tenant is not in default (after delivery of any applicable notice and expiration of any applicable cure period) under the terms of the Lease, Tenant shall be entitled to an abatement of Annual Minimum Rent and Additional Rent (including Operating Expenses) for the Premises commencing on December 1, 2007 and running through December 31, 2007 (the “Minimum Rent Abatement Period”).
Annual Minimum Rent. Effective on the First Renegotiation Date, the Annual Minimum Rent shall be adjusted to equal the Annual Minimum Rent component of Fair Market Rental Value determined in accordance with the terms and provisions of this Section 4.4; provided, however, that in no event shall the Annual Minimum Rent that becomes effective on the First Renegotiation Date be less than the greater of (a) seventy- five percent (75%) of the average total Annual Rent that was payable for each of the three
Annual Minimum Rent. From and after the Effective Date, Tenant shall pay to Landlord Annual Minimum Rent in the manner and at the times set forth in Section 4 of the Lease and in an amount hereinafter provided, without demand, deduction or setoff, except as expressly provided in the Lease. From and after the Effective Date, Annual Minimum Rent shall be as follows for each of the Original Premises and the Expansion Premises (notwithstanding anything to the contrary, there shall be no rent payable for the Expansion Premises until the EPCD): Original Premises (21,757 SF) Period RSF Annual Minimum Rent Monthly Minimum Rent RCD-Month 24 of the Extension Term* $ 12.75 $ 277,401.75 $ 23,116.81 Months 25-36 $ 13.07 $ 284,363.99 $ 23,697.00 Months 37-48 $ 13.40 $ 291,543.80 $ 24,295.32 Months 49-60 $ 13.74 $ 298,941.18 $ 24,911.77 Months 61-72 $ 14.08 $ 306,338.56 $ 25,528.21 Months 73-84 $ 14.43 $ 313,953.51 $ 26,162.80 Expansion Premises (4,320 SF) Period RSF Annual Minimum Rent Monthly Minimum Rent EPCD-Month 24 of the Extension Term** $ 12.75 $ 55,080.00 $ 4,590.00 Months 25-36 $ 13.07 $ 56,462.40 $ 4,705.20 Months 37-48 $ 13.40 $ 57,888.00 $ 4,824.00 Months 49-60 $ 13.74 $ 59,356.80 $ 4,946.40 Months 61-72 $ 14.08 $ 60,825.60 $ 5,068.80 Months 73-84 $ 14.43 $ 62,337.60 $ 5,194.80 *Further, notwithstanding anything to the contrary contained herein, so long as Tenant is not in default under the Lease, that is not cured during any applicable grace or curative period, Tenant’s obligation to pay fifty percent (50%) of the Monthly Minimum Rent otherwise due for the Original Premises for the months of May, June, July, August, September, October, November and December of 2015 of the Extension Term (the “Original Premises Monthly Minimum Rent Abatement Period”) shall be abated, Accordingly, the total amount of Monthly Minimum Rent abated during the Original Premises Monthly Minimum Rent Abatement Period shall equal $92,467.25 (the “Original Premises Monthly Abated Minimum Rent”). **Notwithstanding anything to the contrary contained herein, so long as Tenant is not in default under the Lease, that is not cured during any applicable grace or curative period, Tenant’s obligation to pay fifty percent (50%) of the Monthly Minimum Rent otherwise due for the Expansion Premises for the first fourteen (14) months following the EPCD (the “Expansion Premises Monthly Minimum Rent Abatement Period”) shall be abated. Accordingly, the total amount of Monthly Minimum Rent abated during the Expansion Premi...
