Common use of Rent Payable Clause in Contracts

Rent Payable. Throughout the Term of this Lease, Tenant agrees to pay the following (collectively referred to as "Rent"): (a) Fixed Minimum Rent and (b) all additional sums, charges, or amounts of whatever nature ("Additional Rent") to be paid by Tenant to Landlord in accordance with applicable law, court order or this Lease. Commencing on the dates set forth in this Lease, Tenant shall pay Rent, payable on or before the first day of each month in advance, via Electronic Funds Transfer (EFT) through Bxxx Trust (hxxxx://xxx.xxxxxxxxx.xxx/), or provided Landlord provides notice to Tenant, via such other payment method and/or at such other location as may be acceptable to Landlord in its sole discretion, without deduction or set-off. Landlord and Tenant agree that Fixed Minimum Rent, Percentage Rent, Additional Rent, and all other charges paid to Landlord under this Lease shall qualify as “rents from real property” as defined in Section 856(d) of the Internal Revenue code of 1986, as amended from time to time (the “Code”) and as further defined in Treasury Regulation (“Regulation”) Section 1.856-4. Should the requirements of the Code and/or Regulation be amended so that any amount payable to Landlord under this Lease no longer qualifies as “rents from real property” for the purposes of the Code and associated Regulations, such amount payable to Landlord under this Lease shall, at Landlord's option, be adjusted so that it will qualify as “rents from real property” for the purposes of the Code and Regulation, as amended; provided, however, that any adjustments required pursuant to this provision shall be made so as to produce the equivalent (in economic terms) consideration as was payable prior to such adjustment. Tenant and Landlord shall enter into such amendment or amendments as may be necessary to effect the foregoing and negotiate in good faith with respect thereto. Except for casualty or condemnation, if Tenant is paying any form of Rent abatement, or is entitled to pay a future Rent abatement, and Tenant extends the Term of this Lease via the exercise of an option, renewal, holdover, or otherwise, then upon the commencement of such extended Term, Tenant shall resume the full payment of Rent as provided under this Lease. For purposes of clarity, Tenant shall have no right to revive the direct cause of such Rent abatement during the remaining Term of this Lease. All payments received by Landlord under the terms of this Lease shall be applied to the oldest payment obligation then owed by Tenant.

Rent Payable. Throughout The Rent payable by Tenant during the Second Extended Term (“Option Rent”) shall be equal to the lesser of this Lease, Tenant agrees to pay Fair Market Value of the following (collectively referred to Premises as "Rent"): (a) Fixed Minimum Rent and (b) all additional sums, chargesof the commencement date of the Second Extended Term, or amounts one hundred and twenty-five percent (125%) of whatever nature the Fixed Monthly Rent payable by Tenant the last calendar month preceding the expiration of the First Extended Term. The term “Fair Market Value” shall be defined as the annual rent per rentable square foot that Landlord has accepted in current transactions in the Building, or if there are not a sufficient number of comparable current transactions in the Building, then what a willing, comparable new, non-renewal, non-equity tenant would pay, and what a willing comparable landlord in the West Los Angeles area would accept at arms length, in either case giving appropriate consideration to all economic benefits obtainable by Landlord, such as Fixed Monthly Rent ("including periodic adjustments), Additional Rent") Rent in the form of Operating Expense reimbursements, and any and all other monetary or non-monetary consideration that may be given in the market place to a non-renewal tenant, as is chargeable for a similar use of comparable space in the Brentwood area. Said computation shall specifically be based on the Premises in its “as-is” condition, without payment of any tenant improvement allowance or brokerage commission to any broker. If Tenant elects to have a broker represent it during negotiations for extension of the First Extended Term, and/or Tenant requests the installation of any further improvements into the Premises, the cost of such improvements to be made and/or commissions to be paid by Tenant to Landlord in accordance shall be amortized over the Second Extended Term on a straight-line basis, with applicable law, court order or this Lease. Commencing on the dates set forth in this Lease, Tenant shall pay Rent, payable on or before the first day of each month in advance, via Electronic Funds Transfer interest thereon at ten percent (EFT) through Bxxx Trust (hxxxx://xxx.xxxxxxxxx.xxx/10%), or provided Landlord provides notice to Tenant, via such other payment method and/or at such other location as may be acceptable to Landlord in its sole discretion, without deduction or set-offby appropriately increasing the Fair Market Value previously determined. Landlord and Tenant agree that Fixed Minimum Rent, Percentage Rent, Additional Rent, and all other charges paid to Landlord under this Lease shall qualify as “rents from real property” as defined in Section 856(dhave thirty (30) of the Internal Revenue code of 1986, as amended from time to time days (the “CodeNegotiation Period”) and as further defined after Landlord receives the Option Notice in Treasury Regulation (“Regulation”) Section 1.856-4which to agree on the Fair Market Value. Should the requirements of the Code and/or Regulation be amended so that any amount payable to If Landlord under this Lease no longer qualifies as “rents from real property” for the purposes of the Code and associated Regulations, such amount payable to Landlord under this Lease shall, at Landlord's option, be adjusted so that it will qualify as “rents from real property” for the purposes of the Code and Regulation, as amended; provided, however, that any adjustments required pursuant to this provision shall be made so as to produce the equivalent (in economic terms) consideration as was payable prior to such adjustment. Tenant and Landlord shall enter into such amendment or amendments as may be necessary to effect the foregoing and negotiate in good faith with respect thereto. Except for casualty or condemnation, if Tenant is paying any form of Rent abatement, or is entitled to pay a future Rent abatement, and Tenant extends agree on the Fair Market Value during the Negotiation Period, they shall immediately execute an amendment to the Lease extending the Term of this Lease via and stating the exercise of an option, renewal, holdover, or otherwise, then upon the commencement of such extended Term, Tenant shall resume the full payment of Rent as provided under this Lease. For purposes of clarity, Tenant shall have no right to revive the direct cause of such Rent abatement during the remaining Term of this Lease. All payments received by Landlord under the terms of this Lease shall be applied to the oldest payment obligation then owed by TenantFair Market Value.

Rent Payable. Throughout the Term of this Lease, Tenant agrees to pay the following (collectively referred to as "Rent"): (a) Fixed Tenant shall pay the Rent payable under this Lease to Landlord, without prior demand therefor or any setoff or deduction whatsoever, at the times set forth in this Lease in lawful money of the United States, at the place designated from time to time by Landlord by notice given to Tenant. Tenant shall pay to Landlord the Minimum Rent and (b) all additional sumsprovided in Section 1.1 in equal monthly installments, chargesin advance, or amounts of whatever nature ("Additional Rent") to be paid by Tenant to Landlord in accordance with applicable law, court order or this Lease. Commencing commencing on the dates Commencement Date and on the first day of each and every calendar month thereafter throughout the Term. If the Commencement Date is on other than the first day of a calendar month, Tenant shall, on the Commencement Date, pay a prorated portion of the Minimum Rent calculated based upon the actual number of days in such month. Unless another time shall be expressly provided for payment, all components of Rent other than Minimum Rent shall be due and payable on demand or together with the next succeeding installment of Minimum Rent, whichever shall first occur. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. Tenant shall also pay to Landlord all applicable sales or other taxes which may be imposed on any item of Rent at the same time as such item of Rent is due and payable to Landlord. In addition to constituting a default under this Lease, if Tenant shall fail to make any payment of Rent when due, Tenant shall pay Rent, payable on or before the first day (i) a late charge of each month in advance, via Electronic Funds Transfer Five Hundred Dollars (EFT) through Bxxx Trust (hxxxx://xxx.xxxxxxxxx.xxx/$500.00), or provided plus (ii) commencing on the fifth (5th) day after such default occurs and continuing for each additional day such default continues, Ten Dollars ($10.00) per day to reimburse Landlord provides notice to Tenantfor its additional administrative costs in processing such payment. Unless Landlord notifies Tenant otherwise, via such other payment method and/or at such other location as may be acceptable to Landlord in its sole discretion, without deduction or set-off. Landlord and Tenant agree that Fixed Minimum Rent, Percentage Rent, Additional Rent, and all other charges paid to Landlord under this Lease shall qualify as “rents from real property” as defined in Section 856(d) of the Internal Revenue code of 1986, as amended from time to time (the “Code”) and as further defined in Treasury Regulation (“Regulation”) Section 1.856-4. Should the requirements of the Code and/or Regulation be amended so that any amount payable to Landlord under this Lease no longer qualifies as “rents from real property” for the purposes of the Code and associated Regulations, such amount payable to Landlord under this Lease shall, at Landlord's option, be adjusted so that it will qualify as “rents from real property” for the purposes of the Code and Regulation, as amended; provided, however, that any adjustments required pursuant to this provision Rent payments shall be made so as payable and sent to produce Landlord at the equivalent (rent payment address set forth in economic termsSection l.1(v) consideration as was payable prior to such adjustment. Tenant and Landlord shall enter into such amendment or amendments as may be necessary to effect the foregoing and negotiate in good faith with respect thereto. Except for casualty or condemnation, if Tenant is paying any form of Rent abatement, or is entitled to pay a future Rent abatement, and Tenant extends the Term of this Lease via the exercise of an option, renewal, holdover, or otherwise, then upon the commencement of such extended Term, Tenant shall resume the full payment of Rent as provided under this Lease. For purposes of clarity, Tenant shall have no right to revive the direct cause of such Rent abatement during the remaining Term of this Lease. All payments received by Landlord under the terms of this Lease shall be applied to the oldest payment obligation then owed by Tenantabove.