Common use of Rent Clause in Contracts

Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 2 contracts

Sources: Office Lease (Proquest Co), Sublease Agreement (Voyager Learning CO)

Rent. A. Tenant covenants to shall pay to Landlord as the base rent for the Premises (the “Base Rent”) the amount set forth in Section 1, subject to adjustment as hereinafter provided. Nothing contained herein shall be construed at any time so as to reduce the Base Rent payable hereunder below the amount set forth above. Base Rent shall be adjusted in accordance with the following provisions (any such adjustment is “Additional Rent”). Prior to January 1 of each year in the Term or as soon thereafter as reasonably possible, Landlord shall provide Tenant with Landlord’s good faith estimate (which Landlord may re-estimate at any time) of Operating Expenses and Taxes for the next calendar year in the Term (each, an “Operating Period”), and commencing on January 1 of each Operating Period, one-twelfth (1/12) of Tenant’s Pro-rata Share of the estimated Operating Expenses and Taxes will be due each month from Tenant as Tenant’s Additional Rent during such Operating Period. If Landlord’s statement is furnished after the Lease Termstart of an Operating Period, without any setoff or deduction except as otherwise expressly provided herein, then Tenant shall continue to pay the full monthly amount of all Base Rent and its Additional Rent due hereunder for the prior Operating Period and on the full amount next monthly Additional Rent payment date after Tenant receives Landlord’s statement, Tenant shall also pay any excess amounts allocable to the prior months in that Operating Period. As of all such other sums the Effective Date of money as shall become due under this Lease, all Landlord’s estimate is that the amount that will be due as Additional Rent hereunder for the year in which the Commencement Date occurs will be $18.80 per RSF of which hereinafter may be collectively called “Rent.” In additionthe Rentable Area of Premises per year. Until further written notice is forwarded from Landlord to Tenant in accordance with the provisions of this Lease, Tenant shall pay, remit 1/12th of this amount to Landlord monthly as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with at the same time and in the same manner as Tenant’s monthly payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this LeaseRent. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 2 contracts

Sources: Lease Agreement (Upland Software, Inc.), Lease Agreement (Upland Software, Inc.)

Rent. A. a. For the first Lease Year of 2012-2013 in the Initial Lease Term Tenant covenants to shall pay to Landlord base rent in the annual sum of $134,991.96 as adjusted for 2012 by the CPI formula set forth above, payable in twelve equal monthly amounts. Base Rent shall adjust annually for all Lease Years during the Initial Lease TermTerm pursuant to the CPI formula set forth above. Rent shall commence February 1, without 2012, (the “Rent Commencement Date”) and shall be payable in advance on the first day of each and every month over the Initial Lease Term and any setoff or deduction Renewal Term as applicable. b. Tenant shall pay said monthly rent in said amounts in advance commencing on the Rent Commencement Date, and on the first day of each and every month thereafter during the term of this Lease. c. This is a Triple Net Lease. In addition to its monthly base rent payment, and except as otherwise expressly provided herein, Tenant shall pay its proportionate share of all real property taxes and assessments, insurance, common area maintenance and repair expenses associated with its tenancy and the full property generally. Common area maintenance expenses include by way of example, but are not limited to: Parking lot and exterior building lighting, parking lot snow plowing/shoveling, lawn mowing/fertilization/aeration, tree and shrub trimming/fertilization/replacement, sprinkler system including well start-up, shut- down and repair, building exterior maintenance including painting, siding repair or replacement, parking lot seal coating, striping, parking sign repair or replacement, sidewalk and parking lot curb repair or replacement, roof and gutter repairs, and sewer line clean-out. Triple Net Expenses shall additionally include water, garbage, and recycling services common to the building. Tenant acknowledges that Landlord shall manage the building and property generally with respect to common area maintenance and repair issues, insurance and common utility issues, etc. and shall have sole authority in this regard, with such authority to be exercised in Landlord’s reasonable discretion. As used here, Tenant’s “proportionate share” shall be calculated with Tenant’s stipulated square footage of the footprint of the leased premises (15,505 rentable square feet) as the numerator and the total square footage of the building as the denominator. It is acknowledged that the amount assessed for common area maintenance and repair may change from time to time. Such variations of actual cost in relation to the actual amount of Triple Net fees paid by Tenant will be reviewed and accounted for by Landlord and reported to Tenant by April 30 of the following year. Based on Landlord’s annual review and accounting, any surplus or deficit of Tenant Triple Net payments paid in the prior year shall be credited or debited, respectively, to the Tenant by the Landlord. The Landlord shall set the new estimated Triple Net Expenses amount for the coming year based on anticipated costs, and Tenant shall agree to pay one-twelfth of such annual prorata charges concurrently with the base rent. All of such additional charges shall be termed the “Triple Net Expenses.” Tenant shall remain liable to pay to Landlord upon demand any deficiency in the Triple Net Expenses as may be determined to exist by the Landlord’s end-of-year review and reconciliation of actual expenses, notwithstanding the termination or expiration of the Lease prior to the date of such end-of-year review; and conversely, Landlord shall remain obligated to reimburse Tenant any sum as Tenant may have overpaid in Triple Net Expenses as may be determined by such end-of-year review, notwithstanding the termination or expiration of the Lease prior to such determination. Triple Net Expense Records: Landlord will maintain appropriate and complete accounts, records, documents and other evidence showing and supporting all Base Rent calculation of Triple Net Expenses. Landlord will allow access to Tenant, the Montana Legislative Auditor and/or the Montana Legislative Fiscal Analyst, or other designated persons to all records as may be necessary for audit purposes and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under to determine compliance with this Lease, all on reasonable prior written notice. All records pertaining to Triple Net Expenses must be retained by the Landlord for a period of which hereinafter may three years from the completion date. If any litigation, claim, or audit pertaining to this Lease is started before the expiration of the three year period, the records must be collectively called “Rentretained until the litigation, claim, or audit findings have been resolved.” In addition d. Triple Net Expenses are estimated for the 2012 portion of the first Lease Year of the Initial Lease Term to be $1.95 per square foot per year ($30,234.75/yr for the leased premises), payable monthly with the base rent in an amount of $2,519.56. Triple Net Expenses shall be in effect and payable upon occupancy February 1, 2012, and continuing through the Initial Lease Term and Renewal Terms if applicable. e. Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments pay a late fee of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will any base rent or Triple Net Expense payment that is not paid (regardless of delivery method) on or before the end of the business day (5:00 pm MST) on the tenth (10th) of each month. f. The base rents shall increase or decrease pursuant to Paragraph 3 above for the one-year Renewal Terms (possible Lease Years 6, 7, and 8). For clarification, the base rental amounts do not include the monthly triple net expense charges also to be due and payable with the next installment of Base Rent by Tenant to Landlordpaid monthly described in Paragraph 4c-d above.

Appears in 2 contracts

Sources: Commercial Lease Agreement, Commercial Lease Agreement

Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of which hereinafter may be collectively called “this Lease. Tenant agrees to pay Landlord the Base Rent.” , without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In additionaddition to the Base Rent, Tenant shall paypay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, sales and use taxes the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or other similar taxes, if any, levied expiration or imposed by termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments prorated Rent shall be paid concurrently with on the payments of the Rent on which the tax is based. Base Rent Commencement Date, and Additional any prorated Rent for each the final calendar year or portion thereof during the Lease Term, month hereof shall be due and payable in advance in monthly installments paid on the first day of each the calendar month during in which the Lease Term, without demand. If the Lease Term commences on a day other than the first day date of a month expiration or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasetermination occurs. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 2 contracts

Sources: Lease Agreement (Abaxis Inc), Lease Agreement (Abaxis Inc)

Rent. A. Tenant covenants to pay to Landlord Commencing upon the Ground Lease Commencement Date, the initial rent for the Project Site (“Rent”) shall be [***] per annum, payable in equal installments of [***] per month, adjusted upward every five (5) years thereafter during the Initial Term and during any Extended Term by a percentage equal to the greater of [***] or the CPI Percentage Increase (as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. The period of time from the Ground Lease TermCommencement Date through March 11, without 2024, and each five (5) year period thereafter shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due payment under this Lease, all of which Ground Lease shall hereinafter may be collectively called referred to as a RentCPI Adjustment.” In addition, Tenant shall pay, as Additional Rent, all rent, sales Such Rent will be due each month on the 1st day of the month and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with payable by the payments 15th day of that month; provided, however, that (a) the first payment of Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during Ground Lease Commencement Date and, if the Ground Lease Term, without demand. If the Lease Term commences on Commencement Date is a day date other than the first day of a month or terminates on a day other than the last day of a month, then the installments first payment of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent in a prorated amount for the period of every other covenant time between the Ground Lease Commencement Date and the next following first day of the month; and (b) the first payment of Rent due upon the commencement of any new Adjustment Period will be owed and paid one month after the commencement of that Adjustment Period, in order to permit the Tenant to calculate the CPI Percentage Increase, as set forth in this Leasebelow. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 2 contracts

Sources: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)

Rent. A. (a) Tenant, in consideration of the leasing of the Premises to Tenant by Landlord, hereby covenants and agrees to pay to Landlord during the Lease Termfollowing base rent (hereinafter called the “Base Rent”) as, without any setoff or deduction except as otherwise expressly when and in the manner herein provided hereinand subject to the terms, provisions and conditions herein set forth: Commencing on the full amount execution of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all and during the Term of which hereinafter may be collectively called “Rent.” In additionthe Lease, including the Renewal Terms (if Tenant shall elect to extend the Initial Term), Tenant shall paypay Base Rent as follows: Annual Base Rent from the Rent Commencement Date and for the first five years of the Initial Term shall be an amount equal to 8 1/2 % of appraised fair market value of the Land determined by taking the average of the values established by an MAI appraiser selected by Landlord, as Additional Rentan MAI appraiser selected by Tenant, all rentand an MAI appraiser selected by the other two MAI appraisers, sales each appraiser licensed in the State of Alabama and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authoritywith local knowledge, such payments to be in addition to all other payments required Base Rent to be paid in quarterly installments annually with one quarter of the annual payment due each quarter. Beginning with the sixth year from the Rent Commencement Date, and every five years thereafter until termination of this Lease, the annual Base Rent will be adjusted to Landlord an amount equal to the product of (a) the annual Base Rent paid during the immediately preceding five-year period and (b) the Consumer Price Index (CPI) for the last month of the immediately preceding five-year period divided by Tenant under the CPI for July 2006. However, the amount by which the annual Base Rent will be adjusted at the beginning of every sixth year will be limited to the annual Base Rent for the immediately preceding five-year period multiplied by a minimum of 5.0% and a maximum of 7.5%. The CPI will be calculated using information from the U.S. city average CPI for all items, base period 1982-1984 = 100, series id CUUR0000SA0 (or equivalent series if the series id changes). Rent to be paid in quarterly installments with one quarter of the total annual payment due each quarter. For example, assume the annual Base Rent at the end of the fifth year was $82,000 per year, the CPI for July 2006 was 200, and the CPI for the last month of the fifth year was 212. The annual Base Rent for the next five years would be $86,920 ($82,000 multiplied by 212 divided by 200). If the CPI for the last month of the fifth year was 216, then the maximum increase of 7.5% would apply, such that the annual Base Rent for the next five years would be $88,150 ($82,000 multiplied by 107.5%). Base Rent for the first five years of the First Renewal Term (if such option is exercised by Tenant) shall be an amount equal to 8 1/2% of appraised fair market value of the Land determined by taking the average of the values established by an MAI appraiser selected by Landlord, an MAI appraiser selected by Tenant, and an MAI appraiser selected by the other two MAI appraisers, each appraiser licensed in the State of Alabama and with local knowledge. Beginning with the sixth year of such Renewal Term, and every five years thereafter until termination of this Lease, the annual Base Rent will be adjusted to an amount equal to the product of (a) the annual Base Rent paid during the immediately preceding five-year period and (b) the CPI for the last month of the immediately preceding five-year period divided by the CPI for the last month of the Initial Term of this Lease. Such payments However, the amount by which the annual Base Rent will be adjusted at the beginning of every sixth year will be limited to the annual Base Rent for the immediately preceding five-year period multiplied by a minimum of 5.0% and a maximum of 7.5%. The CPI will be calculated using information from the U.S. city average CPI for all items, base period 1982-1984 = 100, series id CUUR0000SA0 (or equivalent series if the series id changes). Rent to be paid in quarterly installments with one quarter of the total annual payment due each quarter. (b) All Base Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in equal quarterly installments in advance in monthly installments on the first day of each calendar month during quarter, with the Lease Term, without demand. If date of execution of this lease serving as day 1 of quarter 1 and each subsequent quarter beginning exactly three (3) months from the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments prior date. (c) All payments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after sums due hereunder shall be made to Landlord at the same becomes due and payable hereunder, a “Late Charge” equal address provided herein for notices to five percent (5%) of Landlord or to such unpaid amount will be due and payable with the next installment of Base Rent other address as Landlord may direct by Tenant written notice to LandlordTenant.

Appears in 2 contracts

Sources: Ground Lease (Campus Crest Communities, Inc.), Ground Lease (Campus Crest Communities, Inc.)

Rent. A. Tenant covenants to pay to Landlord Commencing upon the Ground Lease Commencement Date, the initial rent for the Project Site (“Rent”) shall be [***] per annum, payable in equal installments of [***] per month, adjusted upward every five (5) years thereafter during the Initial Term and during any Extended Term by a percentage equal to the greater of [***] or the CPI Percentage Increase (as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. The period of time from the Ground Lease TermCommencement Date through March 14, without 2024, and each five (5) year period thereafter shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due payment under this Lease, all of which Ground Lease shall hereinafter may be collectively called referred to as a RentCPI Adjustment.” In addition, Tenant shall pay, as Additional Rent, all rent, sales Such Rent will be due each month on the 1st day of the month and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with payable by the payments 15th day of that month; provided, however, that (i) the first payment of Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during Ground Lease Commencement Date and, if the Ground Lease Term, without demand. If the Lease Term commences on Commencement Date is a day date other than the first day of a month or terminates on a day other than the last day of a month, then the installments first payment of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent in a prorated amount for the period of every other covenant time between the Ground Lease Commencement Date and the next following first day of the month; and (ii) the first payment of Rent due upon the commencement of any new Adjustment Period will be owed and paid one month after the commencement of that Adjustment Period, in order to permit Tenant to calculate the CPI Percentage Increase, as set forth in this Leasebelow. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 2 contracts

Sources: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)

Rent. A. (a) Each Lease Year (as hereinafter defined), Tenant covenants to shall pay to Landlord during the Lease TermBase Rent, without any setoff or deduction deductions of any kind (except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under set forth in this Lease), all of which hereinafter may be collectively called “Rent.” In additionin equal monthly installments, Tenant shall payin advance, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during of the Lease TermTerm at the address of Landlord stated above or such other place as Landlord may designate in writing from time to time, without demand. If the Lease Term commences on with payment in advance of appropriate fractions of a day other than the first day monthly payment for any portion of a month or terminates on a day other than at the last day commencement and termination of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such monthTerm. All amounts received Every amount payable by Tenant to Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant (except as otherwise set forth in this Lease. B. If Tenant fails to pay ) be paid without setoff or deductions of any installment of kind on demand. Base Rent and Additional Rent or any other item of are herein collectively called “Rent”. Any Rent not paid by Tenant within ten (10) days after the same becomes its due and date shall thereafter be payable hereunder, with a “Late Charge” late charge equal to five percent (5%) percent of the unpaid rent installment, as Additional Rent. (b) Tenant’s obligation to pay Base Rent under this Lease shall commence on the Rent Commencement Date. (c) The obligation of Tenant to pay all sums of Additional Rent shall commence on the Commencement Date of the Lease and there shall be no abatement whatsoever of the obligation of Tenant to pay such unpaid amount will be due sums during any period or part of any lease year during the term of the Lease. (d) The term “Lease Year” shall mean a period of twelve (12) consecutive calendar months. The first “Lease Year” shall commence on the Commencement Date, and payable shall end with the expiration of the next installment succeeding twelve (12) months, plus the number of Base Rent by Tenant days, if any, required to Landlordhave the period end at the expiration of the calendar month, and each Lease Year shall run consecutively thereafter.

Appears in 2 contracts

Sources: Lease (Surgiquest Inc), Lease (Surgiquest Inc)

Rent. A. Tenant covenants to pay to Landlord Commencing upon the Ground Lease Commencement Date, the initial rent for the Site (“Rent”) shall be [***] per annum, payable in equal installments of [***] per month, adjusted upward every five (5) years thereafter during the Term by a percentage equal to the greater of [***] or the CPI Percentage Increase (as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. The period of time from the Ground Lease TermCommencement Date through the date five years thereafter, without and each five (5) year period thereafter shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due payment under this Lease, all of which Ground Lease shall hereinafter may be collectively called referred to as a RentCPI Adjustment.” In additionSuch Rent will be due each month on the 1st day of the month and shall be payable by the 15th day of that month; provided, Tenant however, that: (x) the first payment of Rent shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxesbe on the Ground Lease Commencement Date and, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax Ground Lease Commencement Date is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day date other than the first day of the month, the first payment of Rent shall be in a prorated amount for the period of time between the Ground Lease Commencement Date and the next following first day of the month; (y) the first payment of Rent due upon the commencement of any new Adjustment Period will be owed and paid one month or terminates on after the commencement of that Adjustment Period in order to permit the Tenant to calculate the CPI Percentage Increase, as set forth below; and (z) the last payment of Rent shall be in a prorated amount for the period of time between the immediately preceding first day other than of the month and the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this LeaseTerm. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 2 contracts

Sources: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)

Rent. A. Tenant covenants to shall timely pay to Landlord during Rent (as defined in the Basic Lease TermInformation), including Base Rent and the amounts set forth in Exhibit B hereto, without any setoff notice, demand, deduction or deduction set-off (except as otherwise expressly provided herein), the full amount by good and sufficient check drawn on a national banking association at Landlord’s address provided for in this Lease or as otherwise specified by Landlord and shall be accompanied by all applicable state and local rental, transaction privilege, sales or use taxes. The obligations of all Tenant to pay Base Rent (as defined in the Basic Lease Information) and Additional Rent due hereunder other sums to Landlord and the full amount obligations of all such other sums of money as shall become due Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Lease are independent obligations. Base Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Termadjusted as herein provided, shall be due and payable monthly in advance in advance. The monthly installments installment of Base Rent payable under this Lease for the sixth (6th) full calendar month of the Term shall be payable contemporaneously with the execution of this Lease; thereafter, Base Rent shall be payable on or before the first (1st) day of each calendar month during the Lease Term, without demand. If The monthly Base Rent payable for the Lease Term commences on a day other than remainder of any calendar month in which the first day Rent Abatement expires shall equal the product of 1/365 (or in the event of a month or terminates on a day other than leap year, 1/366) of the last day of a month, then the installments of annual Base Rent (if any) and Additional Rent (if any) for in effect during such month or months shall be prorated, based on and the number of days remaining in such month. All amounts received by Landlord from Tenant hereunder month after the expiration of the Rent Abatement, and shall be applied first to due on the earliest accrued and unpaid date that the Rent then outstandingAbatement expires. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment Payments of Base Rent for any fractional calendar month at the end of the Term shall be similarly prorated. Tenant shall pay Operating Costs, Taxes and Additional Rent or any other item of Rent within ten Insurance (10each as defined in Exhibit B) days after at the same becomes due time and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with in the next installment of same manner as Base Rent by Tenant to LandlordRent.

Appears in 2 contracts

Sources: Office Lease Agreement (Dermavant Sciences LTD), Office Lease Agreement (Dermavant Sciences LTD)

Rent. A. Tenant covenants to pay to Landlord during 3.1 Rental and other charges due and payable hereunder shall accrue hereunder from the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, Rental Commencement Date until the full amount termination of all Base Rent this lease and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with payable to Clearwater Retail Partners, LLC at the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Termfollowing mailing address unless otherwise directed by Landlord in writing: c/o ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇. 3.2 The first monthly installment shall be due and payable in advance in monthly installments on or before the first day of each calendar month during Rental Commencement Date (except that if the Lease Term, without demand. If the Lease Term commences Rental Commencement Date falls on a day other than the first day of a month or terminates on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months first payment shall be prorated, based on an amount equal to that percentage of monthly installment which the number of days from the Rental Commencement Date to the end of such calendar month bears to the total number of days in such month. All amounts received by Landlord from Tenant hereunder ) and a like installment, unless adjusted upward as provided below, shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable without notice on or before the first day of each succeeding calendar month during the Term. Unless otherwise specifically provided for in this lease, the covenant of Tenant to pay all rents hereunder is and shall be deemed a separate and independent covenant and Tenant shall have no right of deduction or set-off whatsoever. It is agreed that after the First Lease Year and during the Lease Term and Option Periods, Minimum Guaranteed Rental shall be computed as follows: Multiply the Minimum Guaranteed Rental provided for in Article 1.1 (g) by a fraction, the numerator of which is the Consumer Price Index established for the last preceding December, and the denominator of which is the Consumer Price Index established for the month preceding the Rental Commencement Date of this lease. If the product thus ascertained is greater than the Minimum Guaranteed Rental, said product shall be the new Minimum Guaranteed Rental payable to Landlord by Tenant during each month of the ensuing Lease Year; and if the product thus ascertained is equal to or less than the Minimum Guaranteed Rental, the total monthly rental payable to Landlord by Tenant during each month of the ensuing Lease Year shall be the Minimum Guaranteed Rental payable under Article 1.1 (g). The total Minimum Guaranteed Rental for each Lease Year after the First Lease Year during the Lease Term shall be recomputed in accordance with the next installment above stated formula as soon as practicable after the end of Base Rent by Tenant to Landlordeach Lease Year of this lease. Notwithstanding the foregoing, the adjustment annually will always be based upon a minimum increase of 1% and maximum increase of 2% annually. The foregoing annual increases shall be cumulative.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (First State Financial Corp/Fl)

Rent. A. Tenant covenants to pay to Landlord Commencing upon the Ground Lease Commencement Date, the initial rent for the Site (“Rent”) shall be [***] per annum, payable in equal installments of [***] per month, adjusted upward every five (5) years thereafter during the Initial Term and during any Extended Term by a percentage equal to the greater of [***] or the CPI Percentage Increase (as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. Each five (5) year period following the Ground Lease Term, without Commencement Date shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due payment under this Lease, all of which Ground Lease shall hereinafter may be collectively called referred to as a RentCPI Adjustment.” In addition, Tenant shall pay, as Additional Rent, all rent, sales Such Rent will be due each month on the 1st day of the month and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with payable by the payments 15th day of that month, provided however, that: (a) the first payment of Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during Ground Lease Commencement Date and, if the Ground Lease Term, without demand. If the Lease Term commences on Commencement Date is a day date other than the first day of a month or terminates on a day other than the last day of a month, then the installments first payment of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent in a prorated amount for the period of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment time between the Ground Lease Commencement Date and the next following first day of Base Rent the month; and Additional Rent or any other item (b) the first payment of Rent within ten (10) days due upon the commencement of any new Adjustment Period will be owed and paid one month after the same becomes due commencement of that Adjustment Period and payable hereundershall reflect the Estimated CPI Percentage Increase, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordif any.

Appears in 2 contracts

Sources: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)

Rent. A. Tenant covenants to pay to Landlord Commencing upon the Ground Lease Commencement Date, the initial rent for the Site (“Rent”) shall be [***] per annum, payable in equal installments of [***] per month, adjusted upward every five (5) years thereafter during the Initial Term and during any Extended Term by a percentage equal to the greater of [***] or the CPI Percentage Increase (as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. The period of time from the Ground Lease TermCommencement Date through the date five years thereafter, without and each five (5) year period thereafter shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due payment under this Lease, all of which Ground Lease shall hereinafter may be collectively called referred to as a RentCPI Adjustment.” In addition, Tenant shall pay, as Additional Rent, all rent, sales Such Rent will be due each month on the 1st day of the month and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with payable by the payments 15th day of that month, provided however, that: (a) the first payment of Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during Ground Lease Commencement Date and, if the Ground Lease Term, without demand. If the Lease Term commences on Commencement Date is a day date other than the first day of a month or terminates on a day other than the last day of a month, then the installments first payment of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent in a prorated amount for the period of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment time between the Ground Lease Commencement Date and the next following first day of Base Rent the month; and Additional Rent or any other item (b) the first payment of Rent within ten (10) days due upon the commencement of any new Adjustment Period will be owed and paid one month after the same becomes due commencement of that Adjustment Period and payable hereundershall reflect the Estimated CPI Percentage Increase, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordif any.

Appears in 2 contracts

Sources: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)

Rent. A. Tenant covenants to shall pay Rent to Landlord (or to such Person as Landlord may direct (in writing)) during the Lease Term, in lawful money of the United States of America which shall be legal tender for the payment of public and private debts, without any setoff offset, abatement, demand or deduction deduction, except as otherwise hereinafter expressly provided herein, the full amount provided. All payments of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments made by wire transfer of the Rent on which the tax is basedimmediately available federal funds or by other means acceptable to Landlord in its sole discretion. Base Rent and Additional Rent Debt Service Costs for each calendar year or portion thereof during the Lease Term, any partial month shall be prorated on a per diem basis based on a 360 day year and twelve (12) thirty (30) day months. In addition, if directed to do so by Landlord in writing, Tenant shall pay a portion of the Base Rent directly to any Facility Mortgagee in an amount specified in such Notice to Tenant. Notwithstanding the foregoing, if in connection with any Facility Mortgage Landlord is unable to obtain from the Facility Mortgagee a Subordination Agreement not to disturb Tenant's right to possession in the event of a foreclosure of such Facility Mortgage, then Tenant shall have the right, at Tenant's sole election, to pay directly to the Facility Mortgagee all monthly payments due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demandor otherwise required thereunder. If Tenant elects to make such payments directly to the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a monthFacility Mortgagee, then the installments (i) upon each monthly payment Tenant shall simultaneously therewith deliver to Landlord evidence reasonably acceptable to Landlord that such payment was made, and (ii) Tenant hereby agrees to indemnify, defend and hold harmless Landlord from any claims, losses or damages that Landlord suffers as a result of any failure, default or defect in Tenant's making such payment on Landlord's behalf. Any payments made directly by Tenant under this Paragraph may be off-set against Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordduring such calendar month.

Appears in 2 contracts

Sources: Property Lease Agreement (Provident Senior Living Trust), Property Lease Agreement (Brookdale Senior Living Inc.)

Rent. A. ‌ 4.1. Beginning on the Effective Date and continuing through the Initial Term, Tenant covenants to shall pay to Landlord the following amounts as rent (the “Initial Rent”): (a) a sum per month to pay (1) amounts, including those already incurred by Landlord prior to the Effective Date evidenced by written invoices and approved by Landlord, incurred in the planning or design of the Project including without limitation, architects’, engineers’, planners’, attorneys’ and other professionals’ fees, (2) costs related to developing the Final Construction Drawings; (3) 20% of such invoiced amounts paid to Landlord to reimburse Landlord’s staff time (including staffing the Design Committee and coordinating work of the architects, engineers and other professionals), administrative costs and overhead, not to exceed 4.2. a. Beginning on the Commencement Date and continuing during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall paypay to Landlord rent in the amount per month that will match the amortization schedule for the Bonds (corresponding to the Bond Term as defined above) as provided by the USDA, or as Additional provided by bond counsel on the Bonds based on the Bond Term and the interest rate and other information provided by the USDA in its approval of the financing, or as otherwise provided by bond counsel if the Bonds are not issued pursuant to the USDA rural development program (“Base Rent”). In no event shall the amount of the Base Rent payable on any date be less than, all rentor exceed, sales the aggregate amount of principal, interest, reserve replenishment, indemnity, fees, costs and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments expenses required to be paid or prepaid on such date with respect to Landlord by the Bonds, according to their tenor or as otherwise specified in the Bond Resolution. The obligation of Tenant under this Leaseto pay Base Rent shall commence on the Commencement Date. Such payments To secure the performance of its obligation to pay Base Rent, Tenant shall be paid concurrently deposit with the payments of Landlord, the Base Rent on which the tax is basedat least two (2) days before each Base Rent payment date. The Base Rent and Additional Initial Rent for each calendar year or portion thereof during are also referred to collectively hereinafter as the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease“Rent”. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Building Lease Agreement

Rent. A. 4.1 The Tenant covenants to shall pay to the Landlord during the Lease Termat die address set forth in Paragraph 50.1, in lawful money of Canada and without any setoff deduction, set off or deduction except as otherwise expressly provided hereinabatement, throughout the full amount of all Base Rent and Additional Rent due hereunder and Term an annual minimum rent (the full amount of all such other sums of money as shall become due under this Lease"RENT"), all of which hereinafter may be collectively called “Rent.” In additionin advance, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during throughout the Lease TermTerm as follows: $103,575.00 per annum, without demand. If the Lease Term commences payable in equal consecutive monthly instalments of $8,631.25 in advance, on a day other than the first day of a each month or terminates during each year of the 5 years of the Term. The aforesaid Rent is calculated on a day other than the last day basis of a month, then net rent of: $12.50 per square fool of Gross Leasable Area of the installments Leased Premises per annum for each of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number 5 years of days in such monththe Term. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent may be adjusted from time to time by the Landlord, if necessary, to conform with changes in the Gross Leasable Area of the Leased Premises. Subject to Section 2.2, a certificate of the Landlord's Architect to that effect shall be conclusive, SAVE FOR MANIFEST ERROR, SHALL BE ADDRESSED TO BOTH LANDLORD AND TENANT. 4.2 The Tenant covenants with the Landlord to pay Rent and Additional Rent and such oilier amounts for which the Landlord may be entitled to demand payment from the Tenant pursuant to the provisions of this Lease without any deduction, setoff or abatement. Rent and Additional Rent arc reserved by the Landlord and payable by the Tenant in consideration for the demise and lease of the Leased Premises hereunder. The Landlord shall, in addition to any other item of Rent within ten (10) days after right or remedy available to the Landlord, have the same becomes due rights and remedies in the event of default by the Tenant in the payment of Additional Rent as the Landlord would have in the event of default by the Tenant in the payment of Rent. All Additional Rent payable hereunderby the Tenant to the Landlord pursuant to this Lease shall, a “Late Charge” equal to five percent (5%) of such unpaid amount will be unless otherwise provided herein, become due and payable with the next installment monthly instalment of Base Rent. Where the calculation of any Additional Rent by is not made until after the expiration or earlier termination of this Lease, the obligation of the Tenant to pay such Additional Rent shall survive such expiration or earlier termination and such amount shall be payable by the Tenant after final determination and upon demand by the Landlord. 4.3 Landlord acknowledges that the TENANT has provided to Royal LePage Commercial Inc. (the "LEASING AGENT"), in trust for the Landlord a deposit equal to the sum of thirty-eight thousand two hundred and seventy one dollars and sixty-five cents ($38,271.65) (the "DEPOSIT") to be applied to the first and last months' Rent and Additional Rent payable by the Tenant hereunder. Provided that if, at any time during the term, Rent is overdue and unpaid, or if the Tenant fails to keep or perform any of the terms, covenants and conditions of this Lease to be kept, observed and performed by the Tenant, then, the Landlord, at its option, may, in addition to any and all other rights and remedies provided for in this Lease or by law, appropriate and apply the balance of the Deposit (the "BALANCE") or so much thereof as if necessary to compensate the Landlord for loss or damage sustained or suffered by the Landlord due to such breach on the part of the Tenant. If the Balance or any portion thereof is appropriated and applied by the Landlord for the payment of overdue Rent or Additional Rent, then the Tenant shall, forthwith after demand by the Landlord, remit to the Landlord a sufficient amount in cash to restore the Balance to the original sum deposited and the Tenant's failure to do so forthwith after receipt of such demand constitutes a breach of this Lease. 4.4 The Landlord shall deliver the Balance to any purchaser of the Landlord's interest in the Leased Premises and the Development if such interest is sold and thereafter the Landlord shall be discharged from any further liability with respect to the Deposit so long as the purchaser has assumed the Landlord's obligations hereunder.

Appears in 1 contract

Sources: Net Office Lease (Viventia Biotech Inc.)

Rent. A. Tenant covenants to Subtenant shall pay to Landlord Sublandlord the Monthly Base Rent (pro rated in the case of any partial calendar month at the beginning or end of the Term, based upon the actual number of days in the month), without deduction, offset, notice, or demand, at Sublandlord's Address, or at such other place as Sublandlord shall designate from time to time by notice to Subtenant. Monthly Base Rent shall be paid for each calendar month occurring during the Lease Termterm in advance two (2) business days prior to the first day of the calendar month to which such Monthly Base Rent is attributable, without any setoff or deduction except as otherwise expressly provided hereinthat the installment of Monthly Base Rent for the second full calendar month of the Sublease Term shall be payable upon the execution of this Sublease by Subtenant. Notwithstanding the foregoing, the full amount Monthly Base Rent for April, 2002, February, 2003, March, 2003 and March, 2004 shall be abated. In addition, should more than 20 days elapse between Subtenant's application for a building permit for Subtenant's initial alterations and improvements and the date of all issuance of the permit, and should such delay result in the Subleased Premises not being ready for occupancy by April 1, 2002 because of such delay in issuing the building permit, then Subtenant shall be entitled to one day without Monthly Base Rent starting on April 1, 2002 for every two days of such delay up to a maximum of seven days of free rent. All charges, costs, expenses and sums required to be paid or borne by Subtenant under this Sublease in addition to Base Rent shall be deemed "Additional Rent," and Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money shall hereinafter collectively be referred to as shall become due under this Lease, all of which hereinafter may be collectively called “"Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s " Subtenant's covenant to pay Rent shall be independent of every other covenant in this Sublease. The Monthly Base Rent for the fourth year of the term commencing on April 1, 2005 shall be adjusted to the then Fair Market Base Rental as defined in Section 38(a) of the Master Lease; provided, however, if Fair Market Base Rental is $2.25 per RSF or less, the Monthly Base Rent shall remain at $2.25 per RSF for the fourth year of the Term (i.e., the twelve month period commencing on April 1, 2005). Approximately 30 days prior to the commencement of such lease year, Landlord and Tenant shall endeavor to agree upon the Fair Market Base Rental. If they are unable to do so within such 30 days period, the Fair Market Base Rental shall be determined by three commercial real estate brokers - one selected by Sublandlord, one by Subtenant and one by the two brokers so selected. The Fair Market Base Rental shall be the average of the two closest amounts determined by the brokers. The brokers shall make their determination within 30 days of the selection of the third broker and any rent adjustment shall be retroactive to April 1, 2005. Each party shall pay the fee of the broker which it selected and one half of the fee of the third. On April 1, 2006 and April 1, 2007, the Monthly Base Rent for the succeeding year shall be increased (but not decreased) in accordance with the change in the cost of living according to the provision of Section 35 of the Master Lease with appropriate adjustment to the terms of that section to correspond to the dates and time periods set forth in this paragraph. At no time shall the Monthly Base Rent exceed that charged to Sublandlord under the Master Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Sublease Agreement (Rsa Security Inc/De/)

Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord as Additional Base Rental hereunder Tenant's Pro Rata Share of Basic Costs (as defined below) for the applicable calendar year. Prior to the Commencement Date and prior to January 1 of each calendar year during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinsoon thereafter as practical, Landlord shall make a good faith estimate of Basic Costs for the full amount applicable calendar year and Tenant's Pro Rata Share thereof. On or before the first day of all Base Rent and Additional Rent due hereunder and the full amount of all each month during such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additioncalendar year, Tenant shall paypay to Landlord, as Additional RentBase Rental, all renta monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of Basic Costs. Landlord shall have the right from time to time during any such calendar year to revise the estimate of Basic Costs for such year and provide Tenant with a revised statement therefor, sales and use taxes or other similar taxesthereafter the amount Tenant shall pay each month shall be based upon such revised estimate. Landlord agrees not to revise such estimate more then two (2) times per year. If Landlord does not provide Tenant with an estimate of the Basic Costs by January 1 of any calendar year, if anyTenant shall continue to pay a monthly installment based on the previous year's estimate until such time as Landlord provides Tenant with an estimate of Basic Costs for the current year. Upon receipt of such current year's estimate, levied or imposed by an adjustment shall be made for any city, state, county or other governmental body having authority, such payments month during the current year with respect to be in addition to all other payments required to be which Tenant paid monthly installments of Additional Base Rental based on the previous year's estimate. Tenant shall pay to Landlord for any underpayment within thirty (30) days after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant or credited against the installment of Additional Base Rental due for the months immediately following the furnishing of such estimate. Any amounts paid by Tenant under this Lease. Such payments based on any estimate shall be paid concurrently with subject to adjustment pursuant to the payments immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, Landlord shall be due and payable in advance in monthly installments on furnish to Tenant a statement of Landlord's actual Basic Costs for the first day of each previous calendar month during the Lease Term, without demandyear. If the amount of estimated Basic Costs actually paid by Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of Basic Costs for such prior year, then Landlord shall apply such overpayment against Additional Base Rental due or to become due hereunder, provided if the Lease Term commences on a day other than expires prior to the determination of such overpayment, Landlord shall refund such overpayment to Tenant after first day deducting the amount of any Rent due hereunder. Likewise, Tenant shall pay to Landlord, within thirty (30) days after demand, any underpayment with respect to the prior year, whether or not the Lease has terminated prior to receipt by Tenant of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) statement for such month or months underpayment, it being understood that this clause shall be prorated, based on survive the number expiration of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails Basic Costs shall mean all costs and expenses paid or incurred in each calendar year in connection with operating, maintaining, repairing, managing and owning the Building and the Property, including, but not limited to, the following: 1. All labor costs for all persons performing services required or utilized in connection with the operation, repair, replacement and maintenance of and control of access to pay any installment of Base Rent the Building and Additional Rent the Property, including but not limited to amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and other similar taxes, workers' compensation insurance, uniforms, training, disability benefits, pensions, hospitalization, retirement plans, group insurance or any other item similar or like expenses or benefits. 2. All management fees, the cost of Rent within ten (10) days after equipping and maintaining a management office at the same becomes Building, accounting services, legal fees not attributable to leasing and collection activity, and all other administrative costs relating to the Building and the Property. If management services are not provided by a third party, Landlord shall be entitled to a management fee comparable to that due and payable hereunderto third parties provided Landlord or management companies owned by, or management divisions of, Landlord perform actual management services of a “Late Charge” equal comparable nature and type as normally would be performed by third parties. 3. All rental and/or purchase costs of materials, supplies, tools and equipment used in the operation, repair, replacement and maintenance and the control of access to the Building and the Property. 4. All amounts charged to Landlord by contractors and/or suppliers for services, replacement parts, components, materials, equipment and supplies furnished in connection with the operation, repair, maintenance, replacement of and control of access to any part of the Building, or the Property generally, including the heating, air conditioning, ventilating, plumbing, electrical, elevator and other systems and equipment. At Landlord's option, major repair items may be amortized over a period of up to five percent (5%) years. Notwithstanding the foregoing, except to the extent set forth in Subsection IV.B.11. below, it is hereby agreed that any costs in connection with replacements that would properly be considered to be capital improvements under generally accepted accounting principles shall be excluded from Basic Costs. 5. All premiums and deductibles paid by Landlord for fire and extended coverage insurance, earthquake and extended coverage insurance, liability and extended coverage insurance, rental loss insurance, elevator insurance, boiler insurance and other insurance customarily carried from time to time by landlords of comparable office buildings or required to be carried by Landlord's Mortgagee. 6. Charges for water, gas, steam and sewer, but excluding those charges for which Landlord is otherwise reimbursed by tenants, and charges for Electrical Costs. For purposes hereof, the term "Electrical Costs" shall mean: (i) all charges paid by Landlord for electricity supplied to the Building, Property and Premises, regardless of whether such unpaid amount will be due and payable charges are characterized as distribution charges, transmission charges, generation charges, public good charges, disconnection charges, competitive transaction charges, stranded cost recoveries or otherwise; (ii) except to the extent otherwise included in Basic Costs, any costs incurred in connection with the next installment of Base Rent by Tenant to Landlord.energy management program for the Building, Property and

Appears in 1 contract

Sources: Office Lease (Information Management Associates Inc)

Rent. A. During the Initial Term of this Lease, Tenant covenants to shall pay to Landlord during at the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinaddress herein provided, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leaseset out in Section 1.01 (E) above, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in equal monthly installments in advance, commencing on the Commencement Date. The Rent provided for hereunder shall adjust on the first day of each calendar month Renewal Term (each a "Change Date") to reflect any change in the cost of living during the Lease previous five (5) year Initial Term or Renewal Term just ended, as applicable, based upon the Consumer Price Index, All Urban Consumers, U.S. City Average, all Items, base period 1982-84 (hereinafter referred to as the "Index"), published by the Bureau of Labor Statistics of the United States Department of Labor. As to the first Renewal Term, without demandthe index number for the month of the Commencement Date shall be the "Base Index Number" and as to each subsequent Renewal Term(s) the index number for the first month of the Renewal Term just completed shall be the "Base Index Number", as the case may be. If The index number on each Change Date shall be the "Current Index Number" for the Renewal Term which is commencing. The Base Index Number shall be subtracted from the Current Index Number, and the result obtained shall be converted to a percentage of the Base Index Number. The Rent payable during any Renewal Term of this Lease Term commences on a day other than shall then be increased or decreased by such percentage (the "Adjusted Rent"), as applicable, effective as of the first day of the applicable Renewal Period, and the Adjusted Rent for any Renewal Term shall be payable in equal monthly installments, in the manner provided for under the terms of this Lease. Tenant shall continue payment of the rental rate in effect for the expiring period until notified in writing by Landlord of any change. Landlord shall provide to Tenant written notice of any rental adjustment, including a memorandum showing the calculations used by Landlord in determining the new monthly rental. On the first day of the calendar month immediately succeeding receipt of such notice, Tenant shall commence payment of the new monthly rental specified in the notice, and shall also pay to Landlord, with respect to the month(s) already expired, the difference, if any of the required monthly rentals specified in the notice over the monthly amounts actually paid by Tenant. If publication of the Index shall be discontinued, the most comparable index published by any branch or terminates department of the United States Government shall be substituted, and such adjustments in the method of computation shall be made as may be necessary to carry out the intent of this cost-of-living provision. It is the intention of Landlord and Tenant that the monthly rental shall be adjusted either upward or downward on a day other each Change Date in the event of an increase or decrease in the Index or an equivalent increase or decrease in the event of reevaluation or revision of the Index. In the event that the Adjusted Rent for any Renewal Term is less than the last day of a monthRent payable for the preceding Renewal Term, then the installments of Base any credit for excess Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received paid by Landlord from Tenant hereunder shall be applied first as an offset against subsequent installments of Rent to come due under the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent terms of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Petro Stopping Centers L P)

Rent. A. 3.1. Subject to the provisions of this Paragraph 3.1, Tenant covenants agrees to pay to Landlord during the Lease Term, without any setoff or deduction except Term as otherwise expressly provided herein, the full amount of all Base Rent for the Premises the sums specified in the Basic Lease Information ("Base Rent"). Landlord and Additional Tenant acknowledge and agree that the calculation of Base Rent due hereunder is not tied to the rentable square feet and is not subject to adjustment should the actual size be determined to be different. Tenant is not relying on any representation as to the size of the Premises made by Landlord, and the full amount rentable square feet of all such other the Premises is not material to Tenant’s decision to lease the Premises. 3.2. On the third anniversary of the Lease Commencement Date, and every year thereafter, Base Rent shall be increased in accordance with the sums of money as and rates specified in the Basic Lease Information. Tenant shall become pay this amount, together with the monthly rent next becoming due under this Lease, all and shall thereafter pay the monthly rent due under this Lease at this increased rate, which shall constitute Base Rent. Landlord’s failure to demand the adjusted Base Rent shall not be considered a waiver of which hereinafter may be collectively called “Landlord’s rights to adjust the monthly Base Rent due, nor shall it affect Tenant’s obligations to pay the increased Base Rent.” In addition 3.3. Except as expressly provided to the contrary herein, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments Base Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance equal consecutive monthly installments, in monthly installments advance, without demand, deduction or offset, commencing on the Term Commencement Date and continuing on the first day of each calendar month during thereafter. However, the Lease Term, without demandfirst full monthly installment of Base Rent shall be payable upon Tenant's execution of this Lease. If the Lease Term commences on Commencement Date is a day other than the first day of a month or terminates on a day other than the last day of a calendar month, then the installments of Base Rent for the Partial Lease Month (if anythe "Partial Lease Month Rent") and Additional Rent (if any) for such month or months shall be prorated, prorated based on the number a month of days in such month30 days. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay The Partial Lease Month Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant on the first day of the calendar month next succeeding the Term Commencement Date. Base Rent, all forms of additional rent payable hereunder by Tenant and all other amounts, fees, payments or charges payable hereunder by Tenant (collectively, "Additional Rent") shall (i) each constitute rent payable hereunder (and shall sometimes collectively be referred to Landlord.herein as "Rent"), (ii) be payable to Landlord in lawful money of the United States when due without any prior demand therefor, except as may be expressly provided to the contrary herein, and

Appears in 1 contract

Sources: Lease Agreement

Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid deliver to Landlord by Tenant under this the original executed Lease. Such payments shall be paid concurrently with , the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder which shall be applied against the Rent payable for the first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant month Tenant is required to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent Rent), the Security Deposit, and Additional Rent or any other item of Rent within ten (10) days after thereafter, all insurance certificates evidencing the same becomes due and payable hereunderinsurance required to be obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay Landlord, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with without prior notice or demand, or abatement, offset, deduction or claim, the next installment of Base Rent by specified in the Basic Lease Information, payable in advance at Landlord's address specified in the Basic Lease Information on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In addition to the Base Rent set forth in the Basic Lease Information, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to Landlordoccupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be paid on the Commencement Date and the first day of the calendar month in which the date of termination occurs, as the case may be.

Appears in 1 contract

Sources: Lease Agreement (Ditech Corp)

Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord as Additional Base Rental hereunder the sum of (1) Tenant's Pro Rata Share of the amount, if any, by which Taxes (hereinafter defined) for the applicable calendar year exceed Taxes for the Base Year plus (2) Tenant's Pro Rata Share of the amount, if any, by which Expenses (hereinafter defined) for the applicable calendar year exceed Expenses for the Base Year. For purposes hereof, "Expenses" shall mean all Basic Costs with the exception of Taxes. Tenant's Pro Rata Share of increases in Taxes and Tenant's Pro Rata Share of increases in Expenses shall be computed separate and independent of each other prior to being added together to determine the "Excess." In the event that Taxes and/or Expenses, as the case may be, in any calendar year decrease below the amount of Taxes or Expenses for the Base Year, Tenant's Pro Rata Share of Taxes and/or Expenses, as the case may be, for such calendar year shall be deemed to be $0, it being understood that Tenant shall not be entitled to any credit or offset if Taxes and/or Expenses decrease below the corresponding amount for the Base Year. Prior to the Commencement Date and prior to January 1 of each calendar year during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinsoon thereafter as practical, Landlord shall make a good faith estimate of the full amount Excess for the applicable calendar year and Tenant's Pro Rata Share thereof. On or before the first day of all Base Rent and Additional Rent due hereunder and the full amount of all each month during such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additioncalendar year, Tenant shall paypay to Landlord, as Additional RentBase Rental, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments a monthly installment equal to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with one-twelfth of Tenant's Pro Rata Share of Landlord's As soon as is practical following the payments end of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, Landlord shall be due furnish to Tenant a statement of Landlord's actual Basic Costs and payable in advance in monthly installments on the first day of each actual Excess for the previous calendar month during the Lease Term, without demandyear. If the estimated Excess actually paid by Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of the Excess for such prior year, then Landlord shall apply such overpayment against Additional Base Rental due or to become due hereunder, provided if the Lease Term commences expires prior to the determination of such overpayment, Landlord shall refund such overpayment to Tenant after first deducting the amount of any Rent due hereunder. Likewise, Tenant shall pay to Landlord, on a day other than demand, any underpayment with respect to the first day prior year, whether or not the Lease has terminated prior to receipt by Tenant of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) statement for such month or months underpayment, it being understood that this clause shall be prorated, based on survive the number expiration of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Office Lease (Bsquare Corp /Wa)

Rent. A. a. Tenant covenants to shall timely pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of Basic Rental and all Base Rent and Additional Rent due hereunder and the full amount of all such other additional sums of money as shall become due to be paid by Tenant to Landlord under this Lease, including the amounts set forth in subparagraph b. below and Exhibit D, without deduction or set off, at the address specified for Landlord in the Basic Lease Information (or such other address as Landlord may from time to time designate in writing to Tenant). Basic Rental, adjusted as herein provided, shall be payable monthly in advance. The first monthly installment of Basic Rental shall be payable on February 1, 2010, and a like monthly installment of Basic Rental shall be due on the first day of the second full calendar month of the Term and continuing thereafter on the first day of each succeeding calendar month during the Term. Rent (i.e., Basic Rental and all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required additional sums to be paid by Tenant to Landlord by Tenant under this Lease. Such payments , including the amounts set forth in subparagraph b. below and Exhibit D) for any fractional month at the beginning of the Term shall be paid concurrently with the payments prorated based on 1/365 of the Rent on which the tax is based. Base Rent and Additional current annual Rent for each calendar year or portion thereof during day of the partial month this Lease Termis in effect, and shall be due on the Commencement Date. b. Tenant shall pay to Landlord an amount equal to the product of (i) the cost of all electricity used by the Building ("Electrical Costs"), multiplied by (ii) Tenant's Proportionate Share, effective upon the Commencement Date of the Lease, even if no Basic Rental is due. Such amount shall be payable monthly based on Landlord's estimate of the amount due for each month, and payable in advance in monthly installments shall be due on the Commencement Date and on the first day of each calendar month during thereafter. Tenant shall pay to Landlord an estimated amount of Electrical Costs equal to the Lease Termproduct of (i) $2.25 multiplied by (ii) the rentable square feet in the Premises ($2,216.63 per month). No less than annually, without demandLandlord shall furnish to Tenant a statement of Landlord's actual Electrical Costs (the "Annual Cost Statement") for the previous year adjusted as provided herein. If the Lease Term commences on a day other Annual Cost Statement reveals that Tenant paid more for Electrical Costs than Tenant's Proportionate Share of Electrical Costs in the first day of a month or terminates on a day other than the last day of a monthyear for which such statement was prepared, then Landlord shall promptly reimburse Tenant such excess; likewise, if Tenant paid less than Tenant's Proportionate Share of Electrical Costs, then Tenant shall promptly pay Landlord such deficiency. With respect to any calendar year or partial calendar year in which the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first Building is not occupied to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent extent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to ninety-five percent (595%) of the rentable area thereof, the Electrical Costs for such unpaid period shall, for the purposes hereof, be increased to the amount will be due and payable with which would have been incurred had the next installment Building been occupied to the extent of Base Rent by Tenant to Landlordninety-five percent (95%) of the rentable area thereof.

Appears in 1 contract

Sources: Office Lease Agreement (ReoStar Energy CORP)

Rent. A. 4.1 Tenant covenants to pay to Landlord shall pay, as rent for the Leased Premises, the following: (a) During the first year of the Term, an annual base rent for the Leased Premises, excluding the basement, of $13.00 per square foot, for an aggregate annual base rent of $1,072,760.00 (“Above-Ground Base Rent”), payable monthly in the sum of $89,396.66. In addition, during the Lease first through the fifth year of the Term, without any setoff or deduction except as otherwise expressly provided hereinTenant shall pay an annual base rent of $6.00 per square foot for basement space for annual base rent of $127,200.00 (“Base Basement Rent”, and together with the Above-Ground Base Rent, the full amount “Base Rent”) based upon an occupancy of all 21,200 square feet, payable monthly in the sum of $10,600. (b) Commencing on the first anniversary of the Lease Commencement date, and on every anniversary date of the Commencement Date thereafter, the Above-Ground Base Rent shall be increased by 3%. Commencing on the sixth anniversary of the Lease Commencement Date, and on every anniversary date of the Commencement Date thereafter, Tenant shall pay Base Basement Rent, based upon an escalation from the Commencement Date at the rate of 3% per year. For avoidance of doubt, annual Base Basement Rent during the sixth Lease year shall be $6.96 per square foot. Thereafter the Base Basement Rent shall continue to escalate by 3% on each anniversary of the Commencement Date. 4.2 Tenant shall also pay the following which shall be referred to herein as “Additional Rent”: (a) Common Area Expenses as hereafter defined in paragraph 8.1. (b) Any other charges as provided in this Lease. The Base Rent and Additional Rent due hereunder and shall be referred to hereafter as “Rent”. 4.3 Tenant covenants to pay the full amount Rent in lawful money of the United States which shall be legal tender for the payment of all such other sums debts, public and private, at the time of money as payment. Such Rent shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord via wire transfer or other electronic transfer to an account provided by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year Landlord, or portion thereof during the Lease Termat such other place or means as Landlord may, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Termfrom time to time, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received designate by Landlord from Tenant hereunder shall be applied first notice to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay . 4.4 The Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordwithout any set-off or deduction of any kind or nature whatsoever and without notice or demand.

Appears in 1 contract

Sources: Lease Agreement (Rocket Pharmaceuticals, Inc.)

Rent. A. Tenant Annual rent shall be as follows: (i) Lease Year 1: $528,679.50 per year ($23.50 per rentable square foot), payable in monthly installments of $44,056.63. (ii) Lease Year 2: $539,928.00 per year ($24.00 per rentable square foot), payable in monthly installments of $44,994.00. Subtenant covenants and agrees to pay to Landlord during Sublandlord the Lease Termrent at YSM Facilities, Yale University, P.▇. ▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇, or at such other place as Sublandlord may designate in writing. Except as otherwise set forth herein, rent shall be payable without notice or demand, without abatement, deduction or setoff. Rent for any setoff or deduction except as otherwise expressly provided herein, the full amount portion of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments a month shall be paid concurrently with the payments of the Rent on which the tax is basedpro-rated. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, Annual rent shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such monthadvance. All amounts received (other than annual rent) payable to Sublandlord by Landlord from Tenant hereunder Subtenant under this Sublease shall be applied first to deemed additional rent and Sublandlord shall have the earliest accrued same rights and unpaid Rent then outstanding. Tenant’s covenant remedies by reason of non-payment of such additional rent as if Subtenant had failed to pay Rent an installment of annual rent. Sublandlord shall be independent and shall remain responsible under the Prime Lease (as defined below) for any and all payments owed to Landlord (as defined below), and Subtenant shall have no responsibility whatsoever for making any payment directly to Landlord under the Prime Lease or otherwise related to Subtenant’s sublease of every other covenant the Premises, Subtenant’s sole and exclusive financial responsibility related to Subtenant’s sublease of the Premises being to Sublandlord as expressly set forth in this LeaseSublease. In addition to the annual rental payable under this Sublease as set forth above, Subtenant shall pay to Sublandlord, the following: (a) A pro rata percentage of all Operating Expenses (as hereinafter defined) during the term of this Sublease. The pro rata percentage applicable to this Sublease is four and thirty-four one hundredths percent (4.34%) of the Building. B. If Tenant fails (b) A pro rata percentage of all Real Estate Taxes levied upon the Building, applicable to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal during the term of this Sublease. The pro rata percentage applicable to five this Sublease is four and thirty-four one hundredths percent (54.34%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordBuilding.

Appears in 1 contract

Sources: Sublease (Achillion Pharmaceuticals Inc)

Rent. A. 4.1 Tenant covenants to shall pay to Landlord during the Lease TermAnnual Base Rent, without any setoff or deduction except as otherwise expressly provided hereinit may be adjusted pursuant to Section 3.2, commencing on the full amount Commencement Date. The Annual Base Rent shall be paid in Monthly Installments of all Base Rent. In addition to the Annual Base Rent, Tenant shall pay as Additional Rent (the “Additional Rent”) certain charges designated in this Lease. The Annual and Monthly Base Rent are sometimes generically referred herein as the “Base Rent,” and the Base Rent and Additional Rent due hereunder and collectively the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, ” 4.2 Tenant shall pay, as Additional Rent, all rent, sales pay Landlord the first Monthly Installment of Base Rent simultaneously with the execution and use taxes or delivery of this Lease by Tenant. All other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to Rent will be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments order of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year Landlord, in advance, except as expressly set forth in Section 11.3, without any abatement, setoffs or portion thereof during the Lease Termdeductions, shall be due and payable in advance in monthly installments on the first day of each and every calendar month during (the Lease Term“Rent Day”) at Landlord’s Office, without demandor at such other place as Landlord may designate in writing. If In the Lease Term commences on a day event the Commencement Date is other than the first day of a calendar month, the Rent for the partial first calendar month or terminates of the Term will be prorated on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, daily basis based on the number of days in such the month. All amounts received by Landlord from Tenant hereunder Rent for such partial calendar month shall be applied first to paid on the earliest accrued and unpaid Rent then outstandingCommencement Date. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Any Rent or any other item of Rent sums, if any, payable by Tenant to Landlord under this Lease which are not paid within ten five (105) days after the same becomes due they are due, and payable hereunderany Rent or other sums received and accepted by Landlord more than five (5) days after they are due, will be subject to a “Late Charge” equal to late charge of five percent (5%) percent of such unpaid the amount due. Such late charges will be due and payable with as Additional Rent on or before the next installment of Rent Day. 4.3 Landlord and Tenant acknowledge and agree that the Base Rent due hereunder together with any adjustments thereto made during the Term of this Lease shall be absolutely net of all costs, expenses, taxes (real and personal), assessments and charges of every kind and nature whatsoever relating to the ownership, occupancy or use of the Premises so that the rental together with any such adjustments constitute the minimum income realized by Landlord from the Premises. Tenant to Landlordwill indemnify and hold harmless Landlord from and against such costs, expenses and charges.

Appears in 1 contract

Sources: Lease Agreement (Mercantile Bank Corp)

Rent. A. Tenant covenants Subtenant agrees to pay all rents and other charges owed to Landlord during Sublandlord pursuant to this Sublease to Sublandlord at its notice address as set forth in Paragraph 3(b) hereof, Attention: Accounting Department. Subtenant agrees to pay all sales, rental and/or transaction privilege taxes on the Lease Term, without any setoff rents and charges (except for Sublandlord's income or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes similar tax) now or other similar taxes, if any, levied or hereafter imposed by any city, state, county or other governmental body having authority, such payments taxing authority upon Sublandlord's receipt of Base Rent from Subtenant pursuant to be in addition to all other payments required to be paid to Landlord by Tenant this Sublease. Any charges due and payable under this Lease. Such Section 7 or as elsewhere provided in this Sublease which are not Base Rent payments shall be paid concurrently considered additional rent. Notwithstanding anything to the contrary contained herein or in the Master Lease, Sublandlord shall pay all Operating Expenses (as defined in the Master Lease) with respect to the payments Premises for, through and including calendar year 2001. Commencing January 1, 2002, Subtenant shall pay its Percentage Share, as defined in Section 3 (1), of Building Operating Expenses in excess of the Rent on which the tax is based. Base Rent and Additional Rent actual Building Operating Expenses for each calendar year or portion thereof during 2001. If Sublandlord provides Subtenant with written notice of an estimate, calculated using commercially reasonable judgment, of such amount for the Lease Termupcoming calendar year, Subtenant shall be due and payable in advance in monthly installments on pay 1/12th of such amount each month at the first day same time Subtenant pays its Base Rent. Within ninety (90) days following the expiration of each such calendar month during the Lease Termyear, without demand. If the Lease Term commences on Sublandlord shall provide Subtenant with a day other than the first day reconciliation of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first actual Building Operating Expenses as compared to the earliest accrued estimated Building Operating Expenses and unpaid Rent then outstandingthe 2001 base year Building Operating Expenses. Tenant’s covenant to In the event Subtenant made an overpayment, Sublandlord shall promptly refund Subtenant such amount. In the event of an underpayment, Subtenant shall pay Rent shall be independent such discrepancy by the later of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10i) thirty (30) days after the same becomes due and payable hereunderreconciliation thereof, a “Late Charge” equal to five percent or (5%ii) of such unpaid amount will be due and payable with the next installment of due date for Base Rent by Tenant Rent. Sublandlord agrees to Landlorddeliver any and all estimates and statements regarding Operating Expenses received from Master Landlord within two (2) days after Sublandlord's receipt thereof.

Appears in 1 contract

Sources: Sublease (Integrated Information Systems Inc)

Rent. A. Upon execution of this Lease, Tenant covenants to shall pay to Landlord during the Lease Termsum of $33,243.24 constituting Base Rent and the estimated Tenant’s Pro Rata Share of Taxes and Expenses due and payable by Tenant for the first full calendar month of the Term for which Rent is payable hereunder. Except as otherwise set forth in this Lease, Tenant shall pay Landlord, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount Term (collectively referred to as "Rent") when due. "Additional Rent" means all sums (exclusive of all such other sums of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all including, without limitation, payments for insurance, repairs and parking and Tenant's Pro Rata Share of which hereinafter may be collectively called “Rent.” In addition, Taxes and Expenses. Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. Base Rent and recurring monthly charges of Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without notice or demand. If the Lease Term commences on a day All other than the first day items of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based due and payable by Tenant on the number of or before 30 calendar days in such monthafter billing by Landlord. All amounts received Rent payable by Landlord from Tenant hereunder shall be applied first paid to Landlord in lawful money of the United States of America, by check made payable to the earliest accrued entity constituting Landlord hereunder and unpaid sent to the address designated in Section 1.10 of the Basic Lease Information, or to such other location or address as Landlord may designate from time to time. Tenant shall pay Landlord a one time administration fee equal to 5% of any Rent then outstandingthat is past due Rent. In addition, Rent that is five (5) calendar days past due shall accrue interest until paid at 12% per annum (or the maximum rate legally permissible, whichever is less). Notwithstanding the foregoing, Tenant shall be entitled to notice and the expiration of a five (5) day cure period prior to imposition of any late charge or interest charge under this Section 3 one (1) time per calendar year; after such written notice has been provided to Tenant in a calendar year, Tenant shall not be entitled to any further notice prior to imposition of a late charge or interest under this Section 3 in such calendar year. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s 's covenant to pay Rent shall be is independent of every other covenant set forth in this Lease. B. If Tenant fails to pay . Further, in the event any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent check submitted by Tenant is returned by reason of "non sufficient funds", Tenant shall pay to Landlord an "NSF Fee" at Landlord's standard rate then in effect.

Appears in 1 contract

Sources: Office Lease Agreement (ChromaDex Corp.)

Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, (a) Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to pay Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Minimum Annual Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demandin advance. If the Lease Term commences on a day other than Commencement Date is not the first day of a calendar month, rent from the Commencement Date to the first day of the following month or terminates shall be apportioned at the Minimum Annual Rent rate for the initial year (based on a 365-day year) and shall be paid on or before the Commencement Date. All rent shall be payable, in advance, and without prior notice or demand, at the address of Landlord set forth in the heading of this Lease or such other than place, or to such other person as Landlord may from time to time direct. (b) In addition, Tenant shall pay to Landlord as Additional Rent in equal monthly installments one twelfth (1/12) of Tenant’s Proportionate Share of annual Real Estate Taxes and Operating Expenses for the last day Building, at the time of payment of each monthly installment of Minimum Annual Rent, based upon the most recent costs of Operating Expenses and Real Estate Taxes available. For the period from the Commencement Date until the issuance of a monthstatement pursuant to Section 4(c) below, such monthly installment shall be equal to the Initial Pass Through Rate multiplied by the agreed square footage of the Leased Space, divided by 12. If there is any concession granted to Tenant in the nature of free Minimum Annual Rent, whether by abatement or deferral of payments, monthly installments of Operating Expenses and Real Estate Taxes shall be paid on the date Minimum Annual Rent would be otherwise payable but for such abatement or deferral. (c) Within ninety (90) days following the expiration of each calendar year Landlord shall furnish Tenant with a written statement of the actual Operating Expenses and Real Estate Taxes incurred for such year. Within thirty (30) days of the rendition of such statement, Tenant shall pay any amounts in excess of those collected pursuant to the payments on account of Real Estate Taxes and Operating Expenses pursuant to Section 4(b) exclusive of electricity and natural gas billed separately pursuant to Section 5(c) below hereof. In the event the first and/or last years of the term of this Lease shall not be full calendar years, then the installments of Base Rent (if any) Tenant’s obligation for Operating Expenses and Additional Rent (if any) for Real Estate Taxes attributable to such month or months years shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease (Idera Pharmaceuticals, Inc.)

Rent. A. a) Tenant covenants shall pay Basic Rent in the amount set out in Subarticle 1.1(g), which shall be payable without demand in advance in equal consecutive monthly instalments on the first of each month commencing on the Commencement Date. Rent is subject to pay to Landlord during adjustment upon certification of the Lease Term, without Rentable Area of the Premises. b) If the Rentable Area or any setoff or deduction except as otherwise expressly provided hereinportion of it is revised in accordance with Article 2.8, the full Basic Rent for each Lease Year will be recalculated automatically by multiplying the revised Rentable Area or portion of it by the applicable amounts per square foot designated in Subarticle 1.1(e) for the respective Lease Year, and the amount of all Base the equal monthly instalments for such Lease Year will be deemed to have been amended accordingly. Upon any such revision of Rentable Area, Landlord will promptly calculate the amount of the difference between the original Basic Rent and the revised Basic Rent for the period prior to the date of such revision. If such amount represents an increase in Basic Rent, Tenant will immediately within twenty-one (21) days after being notified in writing by Landlord pay the amount to Landlord, or if such amount represents a decrease in Basic Rent, Landlord will within twenty-one (21) days after the calculation by Landlord repay the amount to Tenant failing which Tenant will have the right to offset such amount as against Rent and Additional Rent due hereunder and hereunder. A comparable adjustment in respect of any earlier payment of Tenant’s Proportionate Share of Additional Rent will also be made. c) If for any reason it will become necessary to calculate Rent for irregular periods of less than one year or one month, an appropriate pro rata adjustment will be made on a daily basis in order to compute the full amount of rent for such irregular period. d) Except as otherwise provided herein, all such other sums of money as shall become due payments by Tenant to Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be lease will be: (i) paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments in lawful currency of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be Canada; (ii) made when due and payable in advance in monthly installments on the first day of each calendar month during the Lease Termhereunder, without demand. If prior demand therefor, at the Lease Term commences address of Landlord set out on a day page one or such other than the first day of a month or terminates on a day other than the last day of a monthplace as Landlord may designate from time to time to Tenant; (iii) applied towards amounts then outstanding hereunder, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by manner as Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasedirects. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease (Meta Materials Inc.)

Rent. A. 4.01 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount of all such other sums of money Term (collectively referred to as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as ”). “Additional Rent, ” means all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments sums (exclusive of Base Rent) that Tenant is required to be paid to pay Landlord by Tenant under this Lease. Such payments shall be paid concurrently with Commencing on the payments of the respective Rent on which the tax is based. Commencement Date, Base Rent and recurring monthly charges of Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month without notice or demand. All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum if not paid within five (5) days of the due date, and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based . No endorsement or statement on the number of days in such month. All amounts received by Landlord from Tenant hereunder a check or letter accompanying payment shall be applied first to the earliest accrued considered an accord and unpaid Rent then outstandingsatisfaction. Tenant’s covenant to pay Rent shall be is independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Office Lease Agreement (Zulily, Inc.)

Rent. A. Tenant covenants shall pay or cause Manager to pay to Landlord during by wire transfer of immediately available federal funds or by other means acceptable to Landlord in its sole discretion, in lawful money of the Lease TermUnited States of America which shall be legal tender for the payment of public and private debts, without any setoff notice, offset, abatement, demand or deduction except as (unless otherwise expressly provided hereinin this Agreement), Rent during the Term as follows: (a) Commencing with the Commencement Date, the full Rent payable in each calendar month shall be in an amount equal to the sum of the following: (i) the amount of all Base Minimum Rent set forth on Exhibit A which shall be payable monthly in arrears on or before the first (1st) day of the subsequent calendar month; provided, however, that Minimum Rent shall be prorated as to any Lease Year which is less than twelve (12) calendar months and Additional Rent due hereunder and the full as to any partial calendar months; and (ii) an amount of all percentage rent (“Percentage Rent”), calculated for each calendar month, equal to the aggregate of the Period Revenues Computation, through the end of such other sums calendar month, which amount shall be payable monthly in arrears, on or before the first (1st) day of money as shall become due the subsequent calendar month. Landlord and Tenant agree that a percentage of the Rent payable under this LeaseAgreement per quarter shall be paid for, and allocable to, the rental of tangible personal property included in the Leased Property. Such percentage shall be calculated using a numerator of the average of the aggregate fair market values of all Leased Personal Property at the beginning and end of the taxable year with respect to which such quarter relates and a denominator of the average of the aggregate fair market values of all Leased Property at the beginning and end of the taxable year with respect to which such quarter relates, which such fair market values shall be determined by reference to the amount of Landlord’s original investment in such property, adjusted from time to time to take account of economic appreciation and depreciation as well as Capital Expenditures made with respect to the Leased Property and additional amounts invested in Leased Personal Property. If (A) any amount of Rent otherwise accruing or payable to the Landlord under this Agreement with respect to a calendar year and which is properly allocable to either of CHT GP, LLC or CNL Healthcare Trust, Inc. pursuant to the provisions of the Limited Partnership Agreement (as amended) of CHT Partners, LP would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code if received or accrued by CNL Healthcare Trust, Inc., with respect to such calendar year (such amount of “non-qualifying” gross income otherwise accruing or payable under this Agreement hereinafter referred to as “Excess Rent”), and (B) such Excess Rent, when aggregated with all other “non-qualifying” gross income of CNL Healthcare Trust, Inc., with respect to such calendar year within the meaning of Sections 856(c)(2) or 856(c)(3) of the Code (the “Gross Income Tests”) would cause CNL Healthcare Trust, Inc., to fail to satisfy either of the Gross Income Tests (determined without regard to the provisions of this Real Estate Investment Trust (“REIT”) gross income compliance threshold provision or a similar REIT gross income compliance threshold provision contained in any other rental or contractual agreement (collectively, the “Compliance Threshold Provisions”)), then the portion of such Excess Rent equal to the product of (1) the Excess Rent, multiplied by (2) the “Limitation Ratio,” as defined below, shall be deemed not to accrue or otherwise be payable as Rent for all purposes of this Agreement. For purposes of the foregoing paragraph, the “Limitation Ratio” shall be a fraction (x) the numerator of which hereinafter may is the excess of (I) the aggregate amount of “non-qualifying” gross income CNL Healthcare Trust, Inc., would receive or accrue for such calendar year, determined without the limitation provisions of any Compliance Threshold Provisions, over (II) the aggregate amount of “non-qualifying” gross income CNL Healthcare Trust, Inc., would be collectively called permitted to receive for such calendar year without failing to satisfy either of the Gross Income Tests, and (y) the denominator of which is the aggregate of all amounts described as Excess Rent.In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes (or other similar taxes, if any, levied or imposed by term) pursuant to any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each Compliance Threshold Provisions with respect to such calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leaseyear. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (CNL Healthcare Trust, Inc.)

Rent. A. Tenant covenants to Subtenant shall pay to Landlord during the Lease TermSublandlord, in advance, in monthly installments, without any setoff withholding, offset or deduction reduction (except as otherwise expressly provided herein), Basic Rent in the full amount of all Base Rent following amounts: (i) for the period starting on the Commencement Date and Additional Rent due hereunder and ending on the full amount of all such other sums of money as shall become due under this Leaseday preceding the first anniversary thereof, all of which hereinafter may be collectively called “Rent.” In addition$543,354.00 per annum, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments of $45,279.50; and (ii) for the period starting on the first anniversary of the Commencement Date and ending on the Expiration Date, $559,335.00 per annum, payable in monthly installments of $46,611.25. Subtenant shall be entitled to its pro rata share of any reduction or abatement of Basic Rent to the extent of any actual reduction or abatement of Base Rent allocable to the Subleased Premises received by Sublandlord under the terms of the Prime Lease. Basic Rent for any partial calendar months at the beginning or end of the Sublease Term shall be prorated on a daily basis. Subtenant acknowledges that Sublandlord’s payments of Fixed Rent for the Premises are paid to Prime Landlord on the first, day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day and Subtenant therefore covenants and agrees that its payments of a month or terminates on a day other than the last day of a month, then the installments of Base Basic Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first paid to Sublandlord at least five (5) business days prior to the earliest accrued first of each calendar month. B. Subtenant hereby acknowledges that the Subleased Premises are separately metered for electricity. During the Sublease Term, Subtenant shall pay, directly to the appropriate utility provider, any and unpaid Rent then outstanding. Tenantall costs of electricity utilized in the Subleased Premises and in support of any of Subtenant’s covenant equipment, wherever located. C. During the Sublease Term, in the event that Subtenant shall request any additional services or utilities to the Subleased Premises (including, without limitation, for HVAC) for which an additional charge is imposed by Prime Landlord, Subtenant shall promptly pay such amount to Prime Landlord; provided, however, that if Prime Landlord requires Sublandlord to pay for any such services for the benefit of Subtenant, then Subtenant shall reimburse Sublandlord for such costs within fifteen (15) days after Subtenant’s receipt of an invoice therefor from Sublandlord. D. All amounts payable by Subtenant to Sublandlord pursuant to this Sublease in addition to Basic Rent shall be independent deemed to be “Additional Rent” and, in the event of every other covenant any non-payment thereof, Sublandlord shall have all of the rights and remedies provided herein (including, without limitation, those rights and remedies set forth in this Lease. B. If Tenant fails Article 8 of the Prime Lease and incorporated herein by reference), at law or in equity for non-payment of rent. The obligation of Subtenant to pay any installment to Sublandlord all amounts of Base Basic Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal and under the Prime Lease as and to five percent (5%) the extent incorporated herein and as modified hereby, shall survive the expiration of such unpaid amount will be due and payable with the next installment Sublease Term or earlier termination of Base Rent by Tenant to Landlordthis Sublease.

Appears in 1 contract

Sources: Sublease (Tokai Pharmaceuticals Inc)

Rent. A. 4.01 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinsetforth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount Term (collectively referred to as "Rent"). "Additional Rent" means all sums (exclusive of all such other sums of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. Base Rent and recurring monthly charges of Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during without notice or demand, provided that the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent for the first full calendar month of the Term, and the first monthly installment of Additional Rent or any for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other item items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Any payment made by Tenant to a lockbox maintained by Landlord for receipt of payment of Rent shall not be deemed to have been accepted by Landlord provided such payment is returned to Tenant within ten (10) days after Landlord receives notice that the same becomes due and payable hereunder, a “Late Charge” payment has been received into the lockbox. Tenant shall pay Landlord an administration fee equal to five percent (5%) % of such unpaid amount will be due and payable with the next each installment of Base past due Rent, provided that Tenant shall be entitled to a grace period of 5 Business Days for the first 2 late payments of Rent by Tenant in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum. Landlord's acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant's covenant to Landlordpay Rent is independent of every other covenant in this Lease.

Appears in 1 contract

Sources: Office Lease Agreement (Geovic Mining Corp.)

Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord as Additional Base Rental hereunder the sum of: (1) Tenant's Pro Rata Share of the amount, if any, by which Taxes (hereinafter defined) for the applicable calendar year exceed Taxes for the Base Year plus (2) Tenant's Pro Rata Share of the amount, if any, by which Expenses (hereinafter defined) for the applicable calendar year exceed Expenses for the Base Year. For purposes hereof, "Expenses" shall mean all Basic Costs with the exception of Taxes. Tenant's Pro Rata Share of increases in Taxes and Tenant's Pro Rata Share of increases in Expenses shall be computed separate and independent of each other prior to being added together to determine the "Excess". In the event that Taxes and/or Expenses, as the case may be, in any calendar year decrease below the amount of Taxes or Expenses for the Base Year, Tenant's Pro Rata Share of Taxes and/or Expenses, as the case may be, for such calendar year shall be deemed to be $0, it being understood that Tenant shall not be entitled to any credit or offset if Taxes and/or Expenses decrease below the corresponding amount for the Base Year. Prior to the Commencement Date and prior to January 1 of each calendar year during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinsoon thereafter as practical, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as Landlord shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments make a good faith estimate of the Rent on which Excess for the tax is based. Base Rent and Additional Rent for each applicable calendar year and Tenant's Pro Rata Share thereof. On or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Additional Base Rental, a monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of the Excess. Landlord shall have the right from time to time during any such calendar year to revise the estimate of Basic Costs and the Excess for such year and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be based upon such revised estimate. If Landlord does not provide Tenant with an estimate of the Basic Costs and the Excess by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the previous year's estimate until such time as Landlord provides Tenant with an estimate of Basic Costs and the Excess for the current year. Upon receipt of such current year's estimate, an adjustment shall be made for any month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the current year with respect to which Tenant paid monthly installments of Additional Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, Rental based on the number of days in such monthprevious year's estimate. All amounts received by Tenant shall pay Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay for any installment of Base Rent and Additional Rent or any other item of Rent underpayment within ten (10) days after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant or credited against the same becomes installment of Additional Base Rental due for the months immediately following the furnishing of such estimate. Any amounts paid by Tenant based on any estimate shall be subject to adjustment pursuant to the immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Costs and payable the actual Excess for the previous calendar year. If the estimated Excess actually paid by Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of the Excess for such prior year, then Landlord shall apply such overpayment against Additional Base Rental due or to become due hereunder, a “Late Charge” equal provided if the Lease Term expires prior to five percent (5%) the determination of such unpaid overpayment, Landlord shall refund such overpayment to Tenant after first deducting the amount will be of any Rent due and payable hereunder. Likewise, Tenant shall pay to Landlord, within ten (10) days after demand, any underpayment with respect to the next installment of Base Rent prior year, whether or not the Lease has terminated prior to receipt by Tenant to Landlordof a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease.

Appears in 1 contract

Sources: Office Lease Agreement (RDC International Inc)

Rent. A. 4.01 Tenant covenants agrees to pay to Landlord during the Term of this Lease Termthe Basic Minimum Annual Rent, without it being understood that the Basic Minimum Annual Rent is $0 until December 1, 1990. 4.02 Tenant agrees to pay Landlord during the Term of this Lease Additional Rent, consisting of: (i) Tenant's Pro Rata Share of the Basic Operating Cost; (ii) all utility charges which are not included as items of Basic Operating Cost but are the cost responsibility of Tenant under other provisions of this Lease (which have not been paid by Tenant directly to the utility providing the service under other provisions of this Lease); (iii) and any setoff other item specifically set forth elsewhere in this Lease as an item of Additional Rent or deduction except as otherwise expressly an item which is in any other manner the cost responsibility of Tenant. Landlord shall give Tenant within a reasonable time after the commencement of Landlord's fiscal operating year for the Project a statement of Tenant's Pro Rata Share of estimated Basic Operating Cost for the ensuing year. Tenant agrees to pay Tenant's Pro Rata Share of the Basic Operating Cost for each fiscal year in monthly installments in accordance with Landlord's statement. Landlord shall, within ninety days after the end of each fiscal year for which Basic Operating Cost has been charged in accordance with the estimated charges, give to Tenant a statement of the actual Basic Operating Cost incurred for the previous year. Adjustment shall be made for any overpayment or underpayment of the actual charges resulting from any variance between the actual Basic Operating Cost for the previous year and the estimated Basic Operating Cost paid by Tenant, which adjustment may be made by increasing or decreasing the Additional Rent charges for the next year, a refund or a lump sum charge, provided, however, that Landlord shall not be required to make such adjustment more than once per year. If during any fiscal operating year, Landlord shall not have delivered to Tenant the statement mentioned for such year, Tenant shall continue to pay Landlord the sums payable for the immediately preceding year, until the statement for the current year shall have been delivered, at which time the monthly payments by Tenant shall be adjusted retroactively. Upon the request of Tenant, Landlord shall supply reasonable itemization and documentary back-up for the statement of the actual Basic Operating Cost. If during all or part of any fiscal year any particular item or items of service or work (which would constitute an element of Additional Rent hereunder) are not furnished to any portion of the Project due to the fact that such portion is not completed, occupied or leased, then for the purposes of computing Additional Rent payable hereunder, the amount of such expenses for such items shall be increased by an amount equal to the expenses which would have reasonably been incurred during such period if Landlord had at his own expense furnished such items of service or work to such portion of the Project, provided hereinin no event shall Landlord recoup more than 100% of the expenses actually incurred by Landlord. Utility charges set forth as a portion of Additional Rent, above, may be included with the statement of estimated Basic Operating Cost and billed and adjusted in the same manner as Tenant's Pro Rata Share of the Basic Operating Cost. If any part of the first or last Lease Years of the Term of this Lease shall include part of a tax or operating expense year, Tenant's liability under this paragraph shall be apportioned so that Tenant shall pay only for such parts of such tax year and operating expense years that shall be included in the Term of this Lease. Landlord may elect to ▇▇▇▇ the full amount of all Base any item of Additional Rent which is not an item of Basic Operating Cost as such item of expense is incurred by Landlord (repair of damage caused by Tenant, for example). All items of Additional Rent which are capital items not specifically the immediate cost responsibility of Tenant pursuant to other terms of the Lease shall be amortized in accordance with generally accepted accounting principles, provided that no item shall have a useful life of more than fifteen years. Notwithstanding the foregoing, items (i) and (ii) of additional rent shall be payable for the period beginning with the Leased Premises Completion Date (defined in Article XIX) and shall not begin to accrue until such date. 4.03 The Basic Minimum Annual Rent and the monthly installment portion of the Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due in installments, commencing with the Commencement Date and payable in advance in monthly installments continuing on the first day of each calendar month during the Lease Termthereafter, without demandin advance. If the Lease Term commences on a day other than Commencement Date is not the first day of a month or terminates on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months installment due on the Commencement Date shall be prorated, based on pro rated for the number fractional period remaining in the month of days in such monththe Commencement Date. All amounts received by It is the intention of the Landlord from and Tenant hereunder that the rents herein specified shall be applied first net to the earliest accrued Landlord in each year during the Term of this Lease, payable without any reduction, abatement or setoff, and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent that all costs, expenses and obligations of every other covenant kind relating to the Leased Premises, whether or not specifically set forth in this Lease. B. If , which may arise or become due under any contingency whatsoever during the Term of this Lease shall be paid by the Tenant fails to pay any installment and the Tenant shall indemnify the Landlord and save the Landlord harmless from and against all such costs, expenses and obligations. All installments of Base rent past due beyond thirty days shall bear interest at the lesser of two percentage points per annum over the prime rate of interest as announced by The Connecticut Bank and Trust Company, N.A., or its successor, or the maximum rate permitted by applicable law, from date due until payment is received. Any liability for unpaid Basic Minimum Annual Rent and Additional Rent or any other item shall survive the termination of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordLease.

Appears in 1 contract

Sources: Lease (Tsi International Software LTD)

Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord as Additional Base Rental hereunder Tenant's Pro Rata Share of the amount, if any, by which Basic Costs for the applicable calendar year exceed the Basic Costs for the Base Year (the "Excess"). In the event that Basic Costs in any calendar year decrease below the amount of Basic Costs for the Base Year, Tenant's Pro Rata Share of Basic Costs for such calendar year shall be deemed to be $0, it being understood that Tenant shall not be entitled to any credit or offset if Basic Costs decrease below the Basic Costs for the Base Year. Prior to the Commencement Date and prior to January 1 of each calendar year during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinsoon thereafter as practical, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as Landlord shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments make a good faith estimate of the Rent on which Excess for the tax is basedapplicable calendar year. Base Rent and Additional Rent for each calendar year On or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Additional Base Rental, a monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of the Excess. Landlord shall have the right from time to time during any such calendar year to revise the estimate of the Excess for such year and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be based upon such revised estimate. If Landlord does not provide Tenant with an estimate of the Excess by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the previous year's estimate until such time as Landlord provides Tenant with an estimate of the Excess for the current year. Upon receipt of such current year's estimate, an adjustment shall be made for any month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the current year with respect to which Tenant paid monthly installments of Additional Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, Rental based on the number previous year's estimate of days in such monththe Excess. All amounts received by Tenant shall pay Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay for any installment of Base Rent and Additional Rent or any other item of Rent underpayment within ten (10) days after demand. Any overpayment shall be credited against the same becomes installment of Additional Base Rental due for the months immediately following the furnishing of such estimate. Any amounts paid by Tenant based on Landlord's estimate of the Excess shall be subject to adjustment pursuant to the immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Costs and the actual Excess for the previous calendar year. If the estimated Excess actually paid by Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of the Excess for such prior year, then Landlord shall apply such overpayment against Additional Base Rental due or to become due hereunder, provided if the Lease Term expires prior to the determination of such overpayment, Landlord shall refund such overpayment to Tenant after first deducting the amount of any Rent due hereunder. Likewise, Tenant shall pay to Landlord, within ten (10) days after demand, any underpayment with respect to the prior year, whether or not the Lease has terminated prior to receipt by Tenant of a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease. B. Basic Costs shall mean all costs and expenses paid or incurred in each calendar year in connection with operating, maintaining, repairing, managing and owning the Building and the Property, including, but not limited to, the following: 1. All labor costs for all persons performing services required or utilized in connection with the operation, repair, replacement and maintenance of and control of access to the Building and the Property, including but not limited to amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and other similar taxes, workers' compensation insurance, uniforms, training, disability benefits, pensions, hospitalization, retirement plans, group insurance or any other similar or like expenses or benefits. 2. All management fees, the cost of equipping and maintaining a management office at the Building, accounting services, legal fees not attributable to leasing and collection activity, and all other administrative costs relating to the Building and the Property. If management services are not provided by a third party, Landlord shall be entitled to a management fee comparable to that due and payable hereunderto third parties provided Landlord or management companies owned by, or management divisions of, Landlord perform actual management services of a “Late Charge” equal comparable nature and type as normally would be performed by third parties. 3. All rental and/or purchase costs of materials, supplies, tools and equipment used in the operation, repair, replacement and maintenance and the control of access to the Building and the Property. 4. Property or Building; or (b) required to comply with any laws, rules or regulations of any governmental authority or a requirement of Landlord's insurance carrier. The cost of such capital improvements shall be amortized over a period of five percent (5%) years and shall, at Landlord's option, include interest at a rate that is reasonably equivalent to the interest rate that Landlord would be required to pay to finance the cost of the capital improvement in question as of the date such capital improvement is performed, provided if the payback period for any capital improvement is less than five (5) years, Landlord may amortize the cost of such unpaid amount will be due and payable with capital improvement over the next installment of Base Rent by Tenant to Landlordpayback period.

Appears in 1 contract

Sources: Office Lease (Symbion Inc/Tn)

Rent. A. Section 3.01. Commencing on the Commencement Date and continuing through the Expiration Date, Tenant covenants agrees to pay to Landlord during annual rent ("Base Rent") for the Lease Termuse of the Premises, without any setoff or deduction except as otherwise expressly provided herein, in lawful money of the full United States in the amount of all $16.00 per square foot, payable in equal monthly installments of $3,040.00. All installments of Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each month in advance. Section 3.02. In addition to Base Rent, Tenant shall pay as additional rent (hereinafter called "Addition Rent") Tenant's Pro Rata Share (as hereinafter defined) (a) of all real estate taxes and assessments of any kind relating to the Property excluding condominium fees which have been included in the Base Rent and (b) of all Operating Costs (as hereinafter defined) incurred by the Landlord. Landlord shall deliver to Tenant from time to time written estimates with respect to Additional Rent payable hereunder and shall deliver to Tenant monthly statements for an amount equal to 1/12 of such estimated Additional Rent. Tenant shall pay such amounts upon receipt of such statements. As soon as reasonably practicable after the end of each calendar month during year, Landlord shall deliver to Tenant a reasonably detailed statement setting forth the Lease Term, without demanditems included in Additional Rent for such prior calendar year. If the Lease Term commences on a day other Tenant shall have paid less than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant amount set forth in this Lease. B. If such statement, Tenant fails shall pay the balance shown on such statement to pay any installment of Base Rent and Additional Rent or any other item of Rent Landlord within ten thirty (1030) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) date of such unpaid statement. If Tenant shall have paid more than the amount will be due set forth in such statement, Landlord shall credit such amount against future payments of Additional Rent. Additional Rent and payable with the next installment of Base Rent by Tenant are herein collectively referred to Landlordas "Rent".

Appears in 1 contract

Sources: Lease Agreement (Janus Hotels & Resorts Inc)

Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of which hereinafter may be collectively called “this Lease. Tenant agrees to pay Landlord the Base Rent.” , without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord’s Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In additionaddition to the Base Rent, Tenant shall paypay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant’s Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term “Rent” whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, sales and use taxes the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or other similar taxes, if any, levied expiration or imposed by any city, state, county or other governmental body having authority, such payments to termination of the Lease Term shall be in addition to all other payments required to be paid to Landlord by Tenant under this Leasea prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. Such payments Any prorated Rent shall be paid concurrently with on the payments of the Rent on which the tax is based. Base Rent Commencement Date, and Additional any prorated Rent for each the final calendar year or portion thereof during the Lease Term, month hereof shall be due and payable in advance in monthly installments paid on the first day of each the calendar month during in which the Lease Term, without demand. If the Lease Term commences on a day other than the first day date of a month expiration or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasetermination occurs. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Nuance Communications)

Rent. A. Tenant covenants to shall pay to Landlord during as the Lease base rent for the Premises (the “Base Rent”) the amount set forth in Section 1, subject to adjustment as hereinafter provided. Nothing contained herein shall be construed at any time so as to reduce the Base Rent payable hereunder below the amount set forth above. Base Rent shall be adjusted in accordance with the following provisions (any such adjustment hereinafter the “Base Rent Adjustment”). Base Rent includes a component attributable to Operating Expenses (defined below) per square foot of Rentable Area in the Premises for the Base Year as specified in Section 1(“Base Operating Expenses”). Prior to January 1 of each year in the Term, without Landlord shall provide Tenant with an estimate of Operating Expenses for the next calendar year in the Term (each, an “Operating Period”). If Operating Expenses per square foot of Rentable Area during any setoff or deduction except Operating Period, as otherwise expressly provided hereinestimated by Landlord, the full amount of all exceed Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additionOperating Expenses, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. pay Base Rent and Additional Rent for each calendar year or portion thereof during such Operating Period equal to the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent set forth above adjusted upward by an amount equal to the product of (if anyi) and Additional Rent (if any) the difference between Operating Expenses for such month or months shall be proratedOperating Period and the Base Operating Expenses, based on multiplied by (ii) the number of days in such monthPro-rata Share. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent shall, within ten one hundred twenty (10120) days after the same becomes due end of each Operating Period, furnish Tenant with a statement of the Operating Expenses during such year and payable hereunder, a “Late Charge” equal to five percent (5%) computation of such unpaid amount will be due and payable with the next installment of Base Rent Adjustment (“Expense Statement”). Failure of Landlord to provide such statement within said time period shall not be a waiver of Landlord's right to collect any Base Rent Adjustment. If such statement shows that the actual amount Tenant owes is more than the estimated Base Rent Adjustment paid by Tenant, Tenant shall pay the difference within thirty (30) days after delivery of the Expense Statement. If the Expense Statement shows that Tenant paid more than the actual amount owed, Tenant shall receive a credit therefor. The credit shall be applied to Landlordfuture monthly payments attributable to Base Rent Adjustment, or if this Lease has expired, such amount shall be refunded to Tenant.

Appears in 1 contract

Sources: Lease Agreement (Hyperdynamics Corp)

Rent. A. Tenant covenants to shall pay to Landlord during Landlord, as rent for the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder Initial Term and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxesRenewal Term(s), if any, levied without offset, demand, setoff or imposed counterclaim, at the address from time to time provided by any cityLandlord, state, county the Annual Rent for the applicable Lease Year in Monthly Installments plus sales tax as follows: (a) The first Monthly Installment (or other governmental body having authority, such payments to be in addition to all other payments required to a pro-rated portion thereof if the Commencement Date is not the first day of the month) plus applicable sales tax shall be paid to Landlord by Tenant under simultaneously with Tenant's execution of this Lease. Such payments Thereafter, each Monthly Installment plus applicable sales tax shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on or before the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder may or may not be invoiced for rent and the failure to receive an invoice shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasenot excuse timely rent payment. B. (b) If Tenant fails to pay defaults in the payment of any installment of Base Rent and Additional Rent or any other item rent hereunder, such installment shall bear interest at the rate of Rent within eighteen percent (18%) per annum from ten (10) days after the same becomes day it is due until actually paid. In like manner, all other obligations, benefits, and payable monies which may become due to Landlord from Tenant under the terms hereof, or which are paid by Landlord because of Tenant's default hereunder, shall bear interest at the rate of eighteen percent (18%) per annum, from ten (10) days after the due date until paid, or, in the case of sums paid by Landlord, because of Tenant's default hereunder, from the date such payments are made by Landlord until the date Landlord is reimbursed by Tenant therefor. In addition, Tenant shall pay Landlord a “Late Charge” equal ten percent (10%) late charge on all rent payments not made and received in advance of the fifth (5th) day of each month. Should Tenant remit a partial payment for any rent or other charges due hereunder, Landlord may apply said partial payment to any rent or other charges owed by Tenant to Landlord as Landlord deems necessary or appropriate in its sole discretion. (c) Tenant shall pay any increases in the applicable sales tax during this Lease period or any renewal thereof. (d) The acceptance of partial payments of rent shall not, under any circumstances, constitute a waiver by Landlord of the right to collect the balance of rent due nor affect any notice or legal proceedings which may have been commenced pursuant to this Lease or Florida Statutes. (e) Tenant agrees to pay a service charge of $25.00 or five percent (5%) of such the amount of the check, whichever is greater, for all dishonored or returned checks. In the event Landlord _______ Page 2 Tenant _________ Tenant tenders a check which is returned or dishonored, all future rental payments shall be made in the form of a cashier's check or money order. All rents lost in the mail shall be treated as if unpaid amount will until received by Landlord. (f) All costs, expenses and obligations, together with all taxes, interest and penalties thereon, required to be due paid by Tenant under this Lease, and payable all expenses Landlord incurs because of Tenant's default under any of the terms or conditions of this Lease, including but not limited to, (i) attorney's fees and costs through appellate proceedings; (ii) all charges for labor, services and materials used in connection with any improvements or repairs to the Premises undertaken by Tenant; and/or (iii) taxes and assessments now or hereafter taxed, assessed, imposed or levied by law upon all fixtures and personal property of Tenant placed on, attached to or used in connection with the Premises, shall be deemed Additional Rent and Landlord shall have all rights and remedies with respect to such Additional Rent as are provided herein for nonpayment of the base rental. Any Additional Rent that relates to any delayed performance, nonperformance, or any default by Tenant, shall be deemed payable on the first day of the month next installment of Base Rent by Tenant to Landlordfollowing such occurrence or nonoccurrence, unless otherwise stated in this Lease.

Appears in 1 contract

Sources: Lease Agreement (Dental Care Alliance Inc)

Rent. A. 4.01 Tenant covenants agrees to pay to Landlord during the Term of this Lease Termthe Basic Minimum Annual Rent. 4.02 Tenant agrees to pay Landlord during the Term of this Lease Additional Rent, without consisting of: [i] Tenant's Pro Rata Share of the Basic Operating Cost; [ii] all utility charges which are not included as items of Basic Operating Cost but are the cost responsibility of Tenant under other provisions of this Lease (which have not been paid by Tenant directly to the utility providing the service under other provisions of this Lease); [iii] and any setoff other item specifically set forth elsewhere in this Lease as an item of Additional Rent or deduction except as otherwise expressly provided hereinan item which is in any other manner the cost responsibility of Tenant. Landlord shall give Tenant within thirty days after the commencement of Landlord's fiscal operating year for the Project a reasonably detailed statement of Tenant's Pro Rata Share of estimated Basic Operating Cost for the ensuing year, specifying all items of Basic Operating Cost. Tenant agrees to pay Tenant's Pro Rata Share of the Basic Operating Cost for each fiscal year in monthly installments in accordance with Landlord's statement. Landlord shall, within a reasonable period of time after the end of each fiscal year for which Basic Operating Cost has been charged in accordance with the estimated charges, give to Tenant a statement, prepared in accordance with Generally Accepted Accounting Principles, consistently applied, of the actual Basic Operating Cost incurred for the previous year. Adjustment shall be made for any overpayment or underpayment of the actual charges resulting from any variance between the actual Basic Operating Cost for the previous year and the estimated Basic Operating Cost paid by Tenant, which adjustment may be made by increasing or decreasing the Additional Rent charges for the next year, or a refund, provided, however, that Landlord shall not be required to make such adjustment more than once per year. If during any fiscal operating year, Landlord shall not have delivered to Tenant the statement mentioned for such year, Tenant shall continue to pay Landlord the sums payable for the immediately preceding year, until the statement for the current year shall have been delivered, at which time the monthly payments by Tenant shall be adjusted retroactively. If during all or part of any fiscal year any particular item or items of service or work (which would constitute an element of Additional Rent hereunder) are not furnished to any portion of the Project due to the fact that such portion is not completed, occupied or leased, then for the purposes of computing Additional Rent payable hereunder, the amount of such expenses for such items shall be increased by an amount equal to the expenses which would have reasonably been incurred during such period if Landlord had at his own expense furnished such items of service or work to such portion of the Project. Utility charges set forth as a portion of Additional Rent, above, may be included with the statement of estimated Basic Operating Cost and billed and adjusted in the same manner as Tenant's Pro Rata Share of the Basic Operating Cost. If any part of the first or last Lease Years of the Term of this Lease shall include part of a tax or operating expense year, Tenant's liability under this paragraph shall be apportioned so that Tenant shall pay only for such parts of such tax year and operating expense years that shall be included in the Term of this Lease. Landlord may elect to ▇▇▇▇ the full amount of all Base Rent and any item of Additional Rent due hereunder and which is not an item of Basic Operating Cost as such item of expense is incurred by Landlord (repair of damage caused by Tenant, for example). All items of Additional Rent which are capital items not specifically the full amount immediate cost responsibility of all such Tenant pursuant to other sums terms of money as the Lease shall become due under this Leasebe amortized in accordance with generally accepted accounting principles, all provided that no item shall have a useful life of which hereinafter may be collectively called “Rent.” In addition, more than fifteen years. Tenant shall payhave the right to examine, as Additional Rentand Landlord shall keep for a period of at least three years, all rentLandlord's books and records relating to the calculation of Tenant's Pro Rata Share of the Basic Operating Cost and Operating Expenses, sales which examination shall be at Tenant's sole cost and use taxes or other similar taxesexpense, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid upon reasonable advance notice to Landlord by Tenant under this Lease. Such payments and during normal business hours. 4.03 Notwithstanding the provisions of paragraph 4.02, Tenant's Pro Rata Share of the Basic Operating Cost shall be paid concurrently with limited in the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant manner set forth in this Lease. B. If Tenant fails to pay any installment Paragraph. For the calendar year 1993, Tenant's Pro Rata Share of Base Rent and Additional Rent or any other item the entire Basic Operating Cost, excluding Tenant's separately metered paragraph 8.01 electricity, shall not exceed $7.54 per square foot of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.Tenant'

Appears in 1 contract

Sources: Lease Agreement (Information Management Associates Inc)

Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, all Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), and the Security Deposit. On or prior to the Commencement Date or any early occupancy pursuant to the terms of which hereinafter may be collectively called “Rent.” In additionthe Lease, Tenant shall paydeliver to Landlord all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset; deduction or claim, in advance at Landlord’s Address on the Commencement Date (except to the extent covered by the Advance Rent) and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In addition to the Base Rent, Tenant shall pay Landlord, as Additional Rent, Tenant’s Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term “Rent” whenever used herein refers to the aggregate of all rent, sales and use taxes these amounts. The Rent for any fractional part of a calendar month at the commencement or other similar taxes, if any, levied expiration or imposed by any city, state, county or other governmental body having authority, such payments to termination of the Lease Term shall be in addition to all other payments required to be paid to Landlord by Tenant under this Leasea prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. Such payments The prorated Rent shall be paid concurrently with on the payments of Commencement Date (except to the Rent on which extent covered by the tax is based. Base Rent Advance Rent) and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each the calendar month during in which the Lease Term, without demand. If the Lease Term commences on a day other than the first day date of a month expiration or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasetermination occurs. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Ruckus Wireless Inc)

Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, all of Tenant shall deliver to Landlord the original executed Lease, the Base Rent (which hereinafter may shall be collectively called “applied against the Rent payable for the first month Tenant is required to pay Base Rent.” In addition) and the Security Deposit. At least ten (10) days prior to the Commencement Date, Tenant shall paydeliver to Landlord all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay Landlord, without prior notice or demand, or abatement, offset, deduction or claim, the Base Rent specified in the Basic Lease Information, payable in advance at Landlord’s address specified in the Basic Lease Information on the Rent Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In addition to the Base Rent set forth in the Basic Lease Information, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant’s Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term “Rent” whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, sales the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to Tenant shall otherwise perform all other payments obligations of Tenant required to hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be paid to Landlord by Tenant under this Leasea prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. Such payments The prorated Rent shall be paid concurrently with on the payments of the Rent on which the tax is based. Base Rent Commencement Date and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each the calendar month during in which the Lease Termdate of termination occurs, without demand. If as the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasecase may be. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Synplicity Inc)

Rent. A. Section 4.01 Tenant covenants to shall pay to Landlord during in lawful United States currency the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Annual Base Rent. All Annual Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of payable, in equal monthly installments, in advance, beginning on the Rent on which the tax is based. Base Rent Commencement Date, and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments continuing on the first day of each and every calendar month thereafter during the Lease Term, without demand. If Should the Lease Term commences Rent Commencement Date fall on a day other than the first day of a the month, then Tenant shall pay Rent for the fractional month or terminates commencing on a day other than the Rent Commencement Date and ending on the last day of the month in which the Rent Commencement Date occurs on a per diem basis (calculated on the basis of a thirty-day month), then payable upon occupancy of the installments of Base Premises by Tenant. The Rent (if any) and Additional Rent (if any) payment due under this Lease for such any fractional month or months shall be prorated, based calculated and paid on the number of days in such montha per diem basis. All amounts received by Rent, including, without limitation, Additional Rent, and other payments to Landlord from Tenant hereunder under this Lease shall be applied first paid to Landlord, without demand, setoff, or deduction whatsoever, except as specifically provided in this Lease, at Landlord’s Notice Address or at such other place as Landlord shall designate in writing to Tenant. Except to the earliest accrued and unpaid Rent then outstanding. extent otherwise provided herein, Tenant’s covenant obligations to pay Rent and other amounts due under this Lease are covenants independent of the Landlord’s obligations under this Lease. Section 4.02 All monetary obligations of Tenant to Landlord under this Lease, of any type or nature, other than Annual Base Rent, shall be independent denominated as “Additional Rent”. Landlord shall have the same rights and remedies with respect to defaults in the payment of every other covenant Additional Rent as set forth in this Lease. B. If Tenant fails Lease with respect to pay any installment payment of Annual Base Rent. The term “Rent” when used in this Lease shall be deemed to include Annual Base Rent and ail forms of Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordRent.

Appears in 1 contract

Sources: Lease (Cara Therapeutics, Inc.)

Rent. A. Tenant covenants to shall pay to Landlord during an annual rent ("Rent") in the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base $ per year. Rent for the First Lease Year shall be due on the Effective Date of this Lease and Additional for every year thereafter on January 1st of each Lease Year. B. All Rent due hereunder shall be paid by check made payable to "Treasurer, State of New Jersey" and the full amount delivered to: Department of all such other sums Environmental Protection Natural & Historic Resources Office of money as shall become due under this LeaseLeases & Concessions Mail Code 501-04C ▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ If any check for payment is returned to Landlord, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such future payments shall be paid concurrently with made by certified check or money order. D. Any payment of Rent not made on or before the payments dates provided in Subparagraph A of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, this Paragraph shall be considered past due. All past due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months amounts shall be prorated, based on the number assessed a monthly penalty of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the total amount due calculated on the tenth (10th) day of each month after the due date and every thirty (30) days thereafter. E. The cost of Tenant's compliance with this Lease shall be “Additional Rent.” If Landlord incurs any expense, including reasonable attorney's fees, due to the breach of this Lease by Tenant or Tenant's failure to perform any obligation of Tenant hereunder, Tenant shall be liable for payment of such unpaid amount will be due expense as Additional Rent added to and payable with as part of the next installment payment of Base Rent due to be paid by Tenant. Nonpayment of Additional Rent gives Landlord the same rights against Tenant as if Tenant fails to Landlordpay the Rent. F. If this Lease is renewed pursuant to Paragraph 1 herein or is extended pursuant to Paragraph 6F herein, the Rent shall be increased at the beginning of the each Renewal Term by the same percentage that the Farm Service Agency (FSA) of the United States Department of Agriculture (USDA) has increased the soil rental rates for the soil classifications applicable to the Premises. If the soil rental rates have decreased or remained stable, the Rent shall remain the same.

Appears in 1 contract

Sources: Farm Lease

Rent. A. Section 4.1 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff notice, demand, offset or deduction except deduction, in lawful money of the United States of America, at Landlord’s Address for Payment, or at such other place as otherwise expressly provided herein, Landlord shall designate in writing from time to time (a) the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leasein equal monthly installments, all of which hereinafter may be collectively called “Rent.” In additionin advance, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demandand (b) the Additional Rent, at the respective times required hereunder. If The first monthly installment of Base Rent and the Additional Rent payable under Article 5 hereof shall be paid in advance on the date of Tenant’s execution of this Lease Term commences and applied to the first installments of Base Rent and such Additional Rent coming due under this Lease. Payment of Rent shall begin on the Commencement Date; provided, however, that, if either the Commencement Date or the Expiration Date falls on a day date other than the first day of a calendar month, the Rent due for such fractional month or terminates shall be prorated on a day other than per diem basis between Landlord and Tenant so as to charge Tenant only for the last day portion of a month, then such fractional month falling within the Term. Section 4.2 All past due installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent subject to a late charge of every other covenant set forth $100.00 and shall additionally bear interest until paid at a rate per annum (the “Interest Rate”) equal to the greater of fifteen percent (15%) or four percent (4%) above the prime rate of interest from time to time publicly announced by The First National Bank of Chicago, a national banking association, or any successor thereof; provided, however, that, if at the time such interest is sought to be imposed the rate of interest exceeds the maximum rate permitted under federal law or under the laws of the State of Georgia, the rate of interest on such past due installments of Rent shall be the maximum rate of interest then permitted by applicable law. A. On the first anniversary of the Commencement Date and on each anniversary date thereafter (the “Adjustment Date(s)”), Tenant shall pay as adjusted Base Rent an amount equal to 103% of the annual Base Rent for the preceding Lease Year, with appropriate adjustments based upon any changes in the Net Rentable Area of the Premises. For purposes of illustration only, if the Base Rent for the first Lease Year is $100,000, the Base Rent for the second Lease Year will be $103,000, and the Base Rent for the third Lease Year will be $106,090, provided that the Net Rentable Area of the Premises remains constant during said period. One-twelfth of said amount shall be payable by Tenant in each month of the Lease Year, as hereinafter defined, as the new, adjusted monthly Base Rent. B. As used in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent , the term “Lease Year” shall mean a 12-month period commencing on the Commencement Date or any other item anniversary thereof, except that the final Lease Year shall be the period commencing on the last anniversary of Rent within ten the Commencement Date during the Term, and ending on the Termination Date. If the final Lease Year is less than twelve (1012) days after the same becomes due and payable hereundermonths, all amounts shall be approximately prorated based upon a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord365-day Year.

Appears in 1 contract

Sources: Lease Agreement (Ebank Financial Services Inc)

Rent. A. (a) Tenant covenants to shall pay to Landlord during an annual rental in the Lease Termamount Dollars ($ ), without any setoff or deduction except as otherwise expressly provided herein(Rent), at the full amount of all Base Rent and Additional Rent due hereunder and address set forth below. The first rental payment is prorated to the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments end of the Rent on which the tax is based. Base Rent and Additional Rent for each current calendar year or portion thereof during the Lease Termyear, shall be in the amount of ($ ) Dollars payble within within fifteen (15) days of the execution of this Agreement. Annual payments are due and payable in advance in monthly installments on or before the first (1st) day of January in each calendar month during the Lease Term, without demandsubsequent year. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent payable to Landlord at City of every other covenant set forth in this LeaseLongmont, ; Attention: . B. If Tenant fails to pay any installment of Base (b) The Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to shall increase five percent (5%) on the first anniverary after the Term Commencement Date and continuing annually on the anniversary date of such unpaid amount will be due and payable with each year thereafter. (c) In the next installment event Tenant sublets or licenses space on or in the Tower Facilities to a third party collocator (“Collocator”), Tenant shall remit twenty-five percent (25%) of Base Rent the rent or license fees collected by Tenant from such Collocator (the “Collocator Rent”) to Landlord (the “Landlord’s Revenue Share”). The Collocator Rent shall be negotiated by and between Tenant and Collocator, on terms acceptable to Tenant, in Tenant’s sole discretion. In calculating the amount of Landlord’s Revenue Share, Collocator Rent shall not include (i) any payment received by Tenant under the applicable sublease or license for reimbursement of operating expenses or construction costs relating to the Tower Facilities paid by Tenant or (ii) any other payment other than regular recurring rent or license fees. In the event Tenant sublets to more than one Collocator, Tenant shall be obligated to pay the Landlord’s Revenue Share for each Collocator. Tenant’s obligation to pay ▇▇▇▇▇▇▇▇’s Revenue Share to Landlord shall expire or ▇▇▇▇▇, as applicable, at such time as the Collocator does not pay Collocator Rent to Tenant, and shall resume, as applicable, if and when the Collocator resumes paying such recurring Collocator Rent and the Landlord’s Revenue Share shall be prorated for partial periods.

Appears in 1 contract

Sources: Tower Lease Agreement

Rent. A. Tenant covenants to pay to Landlord during 4.1 The rent payable by Subtenant for the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinSublease Premises shall consist of the Base Rent under Section 4.2, the full amount of all Base Rent and Additional Rent due hereunder Pass Through Costs under Section 4.3 and the full amount of all such Other Charges under Section 4.4. Base Rent, Pass Through Costs, Other Charges and any other sums of money as shall become due payable by Subtenant under this Lease, all of which hereinafter may be Sublease are collectively called referred to as “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. TenantSubtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. Subtenant shall make all payments due to Sublandlord pursuant to this Sublease at Sublandlord’s address set forth in Section 1.12 above, unless otherwise modified in writing by Sublandlord from time to time. Sublandlord shall apply $75,000 of the Prepaid Rent to Subtenant’s obligation to pay Rent in accordance with Section 1.15 of this Sublease. 4.2 Beginning on the Rent Commencement Date and continuing thereafter on the first day of each calendar month during the Sublease Term, Subtenant shall pay to Sublandlord in advance, and without notice, demand, deduction or offset (except as otherwise expressly provided herein), the monthly Base Rent. If the Rent Commencement Date is a day other than the first day of a calendar month, the Base Rent for the month in which the Rent Commencement Date occurs will be prorated, based on the actual number of days in the month after the Rent Commencement Date. Similarly, Base Rent for the month in which the Expiration Date occurs shall be prorated, base on the actual number of days in the month prior to the Expiration Date. 4.3 Commencing on the Commencement Date, and continuing throughout the Sublease Term, Subtenant also shall pay an amount equal to Subtenant’s Share of all amounts payable by Sublandlord under Section 4 (“Taxes”), Section 5 (“Operating Expenses”), and Section 6 (“Utilities”) under the Master Lease (collectively, “Pass Through Costs”). To the extent Pass Through Costs are payable on a monthly estimated basis, the Additional Rent with respect thereto shall be paid as and when Base Rent is due in an amount based on Master Landlord’s or Sublandlord’s estimates; and upon any reconciliation of estimated and actual Pass Through Costs, the corresponding Pass Through Costs shall be adjusted between Sublandlord and Subtenant (with appropriate reimbursements or additional payments) within thirty (30) days after delivery to Subtenant of any reconciliation statement. For purposes of calculating Pass Through Costs, Sublandlord shall be entitled to rely conclusively on Master Landlord’s determination of estimated and actual Pass Through Costs and shall be under no obligation to audit or verify the same except as provided in Section 4.3.1 and Section 4.3.2 of this Sublease. 4.3.1 Notwithstanding anything to the contrary contained in this Sublease, Sublandlord, at Subtenant’s reasonable request, shall exercise its rights under the Master Lease, to audit and verify the determination of the Pass Through Costs, provided (i) Subtenant shall not issue more than one such request per calendar year of the Sublease term; (ii) Subtenant’s request shall be made not more than sixty (60) calendar days following delivery to Subtenant of any reconciliation statement; (iii) Subtenant shall not be in default at the time it issues such request to Sublandlord or at the time Sublandlord commences such audit; and (iv) Subtenant shall pay all out of pocket costs to third parties actually incurred by Sublandlord, plus a ten percent (10%) administrative fee. Notwithstanding anything to the contrary contained in this Sublease, to the extent that taxes and/or assessments are increased as a result of Subtenant’s Alterations (as defined in Section 10 below) or Sublandlord’s alterations to the Retained Space, Subtenant or Sublandlord, respectively, shall bear and pay 100% of such increase. 4.3.2 In the event Master Landlord’s annual statement of Pass Through Costs due by Sublandlord to Master Landlord under the Master Lease (including any later adjustment as the result of an audit of such costs) for any period after the Commencement Date discloses that Sublandlord has overpaid or underpaid Pass Through Costs for such period (and hence, Subtenant has materially overpaid or underpaid Pass Through Costs under this Sublease), then upon Subtenant’s written request Sublandlord shall contest, at Subtenant’s expense, the determination of any Pass Through Costs, in accordance with Sublandlord’s rights under the Master Lease, and such overpayment or underpayment shall be reconciled between Sublandlord and Subtenant hereunder in the same manner as between Master Landlord and Sublandlord under the Master Lease. Sublandlord shall deliver to Subtenant, as received, copies of all statements and estimates with respect to Pass Through Costs received from Master Landlord. 4.4 Throughout the Sublease Term, Subtenant also shall pay, within five (5) business days after written notice, any other fees, charges or other sums payable with respect to the Sublease Premises (collectively, “Other Charges”) for: (a) excess or after-hours utility consumption within the Sublease Premises; (b) excess, after-hours or supplemental heating, ventilating or air conditioning service supplied to the Sublease Premises; (c) services or benefits supplied to the Sublease Premises at Subtenant’s request (or with Subtenant’s acquiescence) for which Master Landlord reserves any right to impose a fee or charge separate from the Pass Through Costs; (d) to reimburse Master Landlord or Sublandlord for taxes on Subtenant’s Furniture and Equipment personal property, equipment and fixtures located in or about the Sublease Premises during the Sublease Term; (e) to pay for any damage to the Building resulting from the act or omission of Subtenant or Subtenant’s agents, employees or invitees, subject to the subrogation provisions of Section 8.2 herein; (f) damages recoverable due to a default under the Master Lease which are the result of any default or failure of performance by Subtenant under this Sublease; and (g) any other costs or expenses due from Subtenant to Sublandlord under this Sublease. 4.4.1 To the extent Subtenant exclusively uses a service or system such as after- hours HVAC, Subtenant shall pay the entire cost as a part of Other Charges. To the extent Sublandlord exclusively uses a service or system in the Retained Space such as after-hours HVAC, Sublandlord shall be responsible for the entire cost of such service or system without contribution by Subtenant. If both Sublandlord and Subtenant jointly utilize any service or system of the Building which results in Other Charges under Section 4.4(a) or (b), Subtenant and Sublandlord agree to equitably apportion such Other Charges between Sublandlord and Subtenant based upon Sublandlord’s good faith estimate of a fair allocation, which estimate shall be subject to review by Subtenant in the manner provided in Section 5.4 (b) of the Master Lease. 4.5 All Rent shall be paid to Sublandlord or to such other person or such other place as Sublandlord may from time to time designate in writing. If Subtenant fails to pay any Rent on or before the fifth (5th) day after such Rent is due, the unpaid amounts shall bear interest for the benefit of Sublandlord at the lesser of 12% per annum or the maximum rate permitted by law ( “Default Rate”), from the date such Rent is due to the date of payment. In addition to such interest, Tenant shall pay to Landlord a late charge in an amount equal to ten percent (10%) of any installment of Rent due Sublandlord if Rent is not paid by the fifth (5th) day after such Rent is due and more than one default in the payment of Rent has occurred in the preceding twelve (12) months. Subtenant acknowledges that late payment by Subtenant to Sublandlord of Rent will cause Sublandlord to incur costs not contemplated by this Sublease. Sublandlord further acknowledges that it is extremely difficult and impractical to fix the exact amount of such costs sand that the late charge set forth in this LeaseSection 4.5 represents a fair and reasonable estimate thereof. Sublandlord’s acceptance of any late charge shall not constitute a waiver of Subtenant’s default with respect to overdue Rent, nor shall such acceptance prevent Sublandlord from exercising any of its other available rights and remedies. Sublandlord’s acceptance of Rent shall not constitute a waiver of late charges or interest accrued with respect to such Rent or other payments or any prior installments thereof, nor of any other defaults by Subtenant, whether monetary or non-monetary in nature, remaining uncured at the time of such acceptance of Rent or other payments. B. If Tenant fails 4.6 In the event of any casualty or condemnation affecting the Sublease Premises, Rent payable by Subtenant shall be proportionately abated, but only as to pay any installment the portion of Base the Sublease Premises damaged or taken and only to the extent that Rent and Additional Rent payable by Sublandlord is abated or any other item reduced with respect to such portion of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordSublease Premises.

Appears in 1 contract

Sources: Sublease (Aradigm Corp)

Rent. A. (a) Tenant covenants and agrees to pay to Landlord during Landlord, as basic rental for the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinPremises, the full amount of all Base Annual Basic Rent and Additional set forth in Section 1.G. The Annual Basic Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, Term without demandnotice and without any set-off or deduction whatsoever. The Annual Basic Rent shall increase at the rate of 3% annually over the previous year’s rent. If the Lease Term commences shall commence on a day date other than the first day of a month or terminates on a day other than month, the last Annual Basic Rent for the period from the date of commencement of the term to the first day of a monththe first full calendar month of the term shall be prorated and shall be payable on the first day of the Term. Landlord hereby acknowledges receipt from Tenant of the Prepaid Rent representing payment of the Annual Basis Rent for the first month of the Term. If Tenant shall default in any of its obligations to be performed prior to the Commencement Date, then Landlord may retain the installments Prepaid Rent and apply it to any damages incurred by Landlord. (b) The first “rental year” of Base this Lease shall commence on the Commencement Date and shall end at the close of the twelfth full calendar month of the Term; thereafter, each rental year shall consists of periods of twelve full calendar months commencing with each anniversary of the first full calendar month of the Term or, at the end of the Term, the portion of such twelve full calendar months included in the Term. (c) Any and all other sums that may become payable by Tenant under this Lease including Tenant’s Share of Operating Costs, Tenant’s Share of Insurance and Tenant’s Share of Taxes shall be considered additional rent due hereunder (the “Additional Rent”) (the Annual Basic Rent (if any) and the Additional Rent are herein collectively referred to as the “Rent”). (if anyd) for such month or months Landlord shall be proratedentitled to receive, based on the number of days in such month. All amounts received by Landlord from and Tenant hereunder shall be applied first obligated to pay, as additional rent hereunder upon demand, interest at the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent rate of eighteen percent (18%) per annum or the highest legal rate, whichever shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay less, upon any installment of Base Rent and Additional Annual Basic Rent or any other item Additional Rent which is not paid within five (5) business days of the date such Rent within ten (10) days after is due, such interest to begin to accrue on the same becomes date such Rent is due and payable hereunder, a “Late Charge” equal to five percent (5%) continue until the full amount of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordis paid.

Appears in 1 contract

Sources: Lease Agreement (Bay National Corp)

Rent. A. Tenant covenants to pay to Landlord during For the initial three (3) calendar years of the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additionterm, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be pay Landlord rent in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments amount of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and Two Hundred Fifty-Five Thousand Dollars ($255,000) per annum payable monthly in advance in monthly installments the amount of $21,250 on the first day of each calendar and every month during the Lease Term, without demandterm hereof. If During the last two calendar years of the Lease Term commences term, Tenant shall pay Landlord rent (the “Percentage Rent”) in the amount of three (3%) of the annual gross revenues derived from or arising out of the business conducted by Tenant within or from the Premises (the “Premises Revenues”) (regardless of whether for cash or for credit or where the actual revenues are recorded) for each such calendar year. During the last two calendar years of the Lease term, Tenant shall remit monthly estimates on a day other than account of the Percentage Rent, which estimates shall be paid in advance of the first day of each month. During the fourth calendar year of the term, the monthly estimates shall be in the amount of one-twelfth of the actual Percentage Rent payable for the fourth calendar year of the term, except that Tenant shall continue to pay monthly estimates of $21,250 until the final Percentage Rent due for the fourth calendar year has been finalized. During the last two calendar years of the Lease term, the Tenant shall, within 30 days after the completion of each fiscal quarter, deliver to Landlord a month or terminates certificate that sets forth the Premises Revenues on a day other year-to-date basis and the Percentage Rent due for such quarter. If the actual Percentage Rent due for such quarter is greater than the last day amount of a monththe estimates paid by Tenant for such quarter, then the installments of Base certificate shall be accompanied by a payment equal to the shortfall. If the actual Percentage Rent (if any) and Additional Rent (if any) due for such month or months quarter is less than the amount of the estimates paid by Tenant for such quarter, then Tenant shall be proratedentitled to a credit for such overpayment, based on which credit may be taken by Tenant against the number next monthly estimate(s) due hereunder. Each quarterly certificate delivered by Tenant shall be signed by the Tenant’s Vice President-Finance and shall contain undertaking therein that the information contained therein is true, accurate and complete, has been derived from the books and records of days in such monthTenant and that Tenant has complied with its obligations under this Paragraph 1. All amounts received by Landlord from Tenant hereunder rent shall be applied first paid at the address specified herein above for the Landlord or at such other place as Landlord may designate in writing, from time to time. All rent shall be paid without demand and without counterclaim, deduction or setoff. For the purposes of this Section 1, the term “gross revenues” means the total gross dollar amount of all sales, charges for the rendering of services, or other revenues. The parties intend for the foregoing definition to be interpreted as broadly as possible. Tenant agrees to maintain financial records, which specifically account for gross revenues for the Premises. Tenant further agrees to refrain from taking any actions that would tend to manipulate or decrease the gross revenues for the Premises, including, without limitation, the diversion of gross revenues with the intent to decrease the amount of rent due hereunder. Landlord shall have the right to review the financial records of Tenant with respect to the earliest accrued Premises, upon the completion of the third year of the Lease term and unpaid Rent then outstandingupon the completion of each year of the Lease term thereafter. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If In the event Tenant fails to pay any installment of Base Rent and Additional Rent maintain such financial records or any other item of Rent within ten (10) days after the same becomes due and payable hereunderfails to comply with Landlord’s request to review such financial records, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Landlord may, in its sole discretion, consider Tenant to Landlordbe in breach of this Lease and may take action in accordance with Section 17 hereof.

Appears in 1 contract

Sources: Lease Agreement (Brown & Brown Inc)

Rent. A. The Tenant hereby covenants and agrees with the Landlord as follows: 3.1 That the Tenant shall pay to the Landlord during the Term (and any applicable renewal or extension thereof), without prior demand or any deduction or set off whatsoever, the aggregate of the Basic Rent and the Additional Rent. The Tenant acknowledges and agrees that the Landlord shall have the right to require the Tenant to pay to the Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base the Sales Taxes on any payments of Rent and Additional Rent due hereunder under this Lease and the full Tenant covenants and agrees to pay to the Landlord the amount of all such other sums the Sales Taxes on any payments of money Rent under this Lease at the same time as shall become due the amounts, to which the Sales Taxes apply, are payable to the Landlord under this Lease, all or upon demand at such other time or times as the Landlord may from time to time determine. (a) That payment of which hereinafter may Rent shall be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments made to be in addition to all other payments required to be paid to the Landlord by the Tenant under this Leaseat the Landlord’s designated office or at such other place and to such other party as the Landlord may from time to time designate in writing. Such All payments of Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable made in advance in monthly installments equal instalments on the first day of each calendar month in advance. (b) The Tenant shall pay the Leased Area Expenses, the Tenant’s Proportionate Share of Common Area Expenses and the Tenant’s Proportionate Share of the Municipal Taxes, monthly in accordance with the reasonable forward estimates thereof made by the Landlord and shall be adjusted at the end of each Lease Year on the basis of the actual Leased Area Expenses and Common Area Expenses experienced during the Lease TermYear to which the adjustments relate, without demand. If together with the Lease Term commences on a day other than final allocation of Municipal Taxes and the first day final calculation of a month or terminates on a day other than the last day of a monthmanagement and administration fee, then determined by the installments of Base Rent (if any) and Additional Rent (if any) Landlord for such month or months shall be prorated, based on the number of days in such monthLease Year. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay other Additional Rent shall be independent paid by the Tenant monthly or as otherwise demanded by the Landlord. (c) The failure of every other covenant set forth the Tenant to comply in any way with any of the provisions of this Article 3.2 shall be deemed to be an Event of Default under this Lease and, following expiry of the applicable cure period in Article 9.4, shall entitle the Landlord to exercise any and all remedies available to the Landlord under this Lease. B. If Tenant fails to pay 3.3 That if, at any installment of Base Rent and Additional Rent time before or any other item of Rent within ten (10) days after the same becomes expiration or earlier termination of the Term, the Landlord shall suffer or incur any damage, loss or expense for which the Tenant is liable hereunder by reason of any failure of the Tenant to observe or comply with any of the covenants or agreements of the Tenant herein contained, or if the Landlord shall make any payment for which the Tenant is liable hereunder, then in every such case the amount of such damage, loss, expense or payment shall be payable by the Tenant to the Landlord on demand and the Landlord shall have the right at its option to add the cost or amount of any such damage, loss, expense or payment to the Rent hereby reserved and any such amount shall thereupon immediately be due and payable hereunderas Rent and recoverable in the manner provided by Applicable Laws for the recovery of rent in arrears. (a) The Tenant covenants and agrees that the failure by the Tenant to pay to the Landlord the amount of any Sales Taxes owing by the Tenant to the Landlord when due hereunder shall constitute an Event of Default by the Tenant under this Lease and will entitle the Landlord to exercise any and all rights and remedies available to the Landlord for the recovery of Rent in arrears. The Tenant further covenants and agrees that if any of the Sales Taxes are amended in such a manner that it imposes any additional financial obligations on the Landlord, a “Late Charge” equal the Tenant shall forthwith pay to five and reimburse the Landlord for all such additional financial obligations and the Tenant agrees to execute such agreements and documents as the Landlord may reasonably require in order to ensure that such additional financial obligations will be paid by the Tenant. (b) Tenant may from time to time be provided with or request Additional Services from Landlord and Tenant shall pay to Landlord the Landlord’s charge for such Additional Services plus ten percent (510%) of such unpaid amount will be due charge to cover Landlord’s cost of administration, payable forthwith upon delivery of Landlord’s invoice therefor. (c) If Landlord shall from time to time reasonably determine that the use of any utility or service in the Premises is disproportionate to the use of other tenants operating during Standard Business Hours, then Landlord may separately charge Tenant as an Additional Service for the excess costs attributable to such disproportionate use calculated on a reasonable basis. (d) Landlord may install and payable with maintain, at Tenant’s expense, metering devices for measuring the next installment use of Base Rent by any utility or service in the Premises. Tenant to shall pay Landlord within thirty (30) days of receipt of any invoice for the cost of installation and maintenance of such device plus ten percent (10%) of such cost on account of Landlord’s overhead.

Appears in 1 contract

Sources: Lease (Zymeworks Inc.)

Rent. A. 4.01 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of all such other sums of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any cityRent. Notwithstanding anything herein to the contrary, state, county or other governmental body having authority, such payments to the taxes described in the immediately preceding sentence shall not be included in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based“Taxes” defined in Exhibit B attached hereto. Base Rent and recurring monthly charges of Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during without notice or demand, provided that the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments installment of Base Rent (if any) for the first full calendar month of the Term, and the first monthly installment of Additional Rent (if any) for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 10% per annum, and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month or months during the Term shall be prorated, based . No endorsement or statement on the number of days in such month. All amounts received by Landlord from Tenant hereunder a check or letter accompanying payment shall be applied first to the earliest accrued considered an accord and unpaid Rent then outstandingsatisfaction. Tenant’s covenant to pay Rent shall be is independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Office Lease Agreement (Mobile Storage Group Inc)

Rent. A. Tenant covenants to shall pay to Landlord during as rental for the Lease Termuse and occupancy of the premises, without any setoff or deduction except as otherwise expressly provided hereinat the times and in the manner hereinafter provided, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other following sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, money: (a) Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid pay to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with [applicable sales taxes and]* minimum rent in the payments amount specified in the Basic Lease Information per year, payable in equal monthly installments in advance on the commencement of the Rent term hereof and on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on before the first day of each and every successive calendar month during the Lease Term, without demandterm hereof. If the Lease Term term commences on a day other than the first day of a month or terminates calendar month, the first payment of rent shall be appropriately prorated on the basis of a 30-day other than month. (b) Effective as of the last first day of a montheach Lease Year following the first Lease year, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant minimum rent set forth in the Basic Lease Information shall be adjusted upward in direct proportion to any increase in the Consumer Price Index measured from the month in which this Lease. B. If Lease is dated to the month immediately preceding the Lease Year for which the adjustment is to be made. As used herein, the term "Consumer Price Index" shall mean the Consumer Price Index for All Urban Consumers, all items, U.S. City Average (1967 equals 100), published by the Bureau of Labor Statistics of the United States Department of Labor. In the event that the Bureau of Labor Statistics should cease to publish said Consumer Price Index, Landlord shall have the exclusive right to choose and apply any similar authoritative Consumer Price Index published by any other branch or department of the U.S. Government. In any event, the base used by the new Consumer Price Index shall be approximately reconciled to the 1967 equals 100 base Consumer Price Index. In the event the Consumer Price Index for the month preceding any Lease Year is not available on the commencement date of such Lease Year, Tenant fails shall continue to pay the minimum rent than in effect until such time as such Consumer Price Index is available; Tenant shall pay to Landlord the full amount of any installment difference between the minimum rental paid during such interim period and the actual adjusted minimum rental at the time of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment monthly rental payment following notice from Landlord of Base Rent by Tenant to Landlordthe adjustment of minimum rental. */For use in Florida and Arizona only.

Appears in 1 contract

Sources: Office/Warehouse/Showroom Lease (Musicmaker Com Inc)

Rent. A. 3.01 Upon execution of this Lease, Tenant covenants to shall pay to Landlord during the Lease Termsum of $47,500.00 constituting Rent due and payable by Tenant for the first full calendar month of the Term for which Rent is payable hereunder. Tenant shall pay Landlord, without any setoff or deduction except as otherwise expressly provided hereindeduction, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount Term (collectively referred to as “Rent”) when due. “Additional Rent” means all sums (exclusive of all such other sums of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all including, without limitation, payments for insurance, repairs and parking lot maintenance/repair and Tenant’s Common Area Share and Tenant’s Building Share of which hereinafter may be collectively called “Rent.” In addition, Taxes and Operating Expenses. Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. Base Rent and recurring monthly charges of estimated Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without notice or demand. If the Lease Term commences on a day All other than the first day items of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based due and payable by Tenant on the number of or before thirty (30) days in such monthafter billing by Landlord. All amounts received Rent payable by Landlord from Tenant hereunder shall be applied first paid to Landlord in lawful money of the United States of America, by check or wire transfer made payable to the earliest accrued entity constituting Landlord hereunder and unpaid Rent then outstandingsent to the lock box designated in Section 1.09 of the Basic Lease Information, or to such other location or address as Landlord may designate from time to time. Tenant’s covenant to Tenant shall pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” Landlord an administration fee equal to five percent (5%) of such unpaid amount will all Rent past due beyond any applicable grace period. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum (or the maximum rate legally permissible, whichever is less). Rent for any partial month during the Term shall be due prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and payable with the next installment satisfaction. Tenant’s covenant to pay Rent is independent of Base Rent by Tenant to Landlordevery other covenant in this Lease.

Appears in 1 contract

Sources: Office Lease Agreement (SI-BONE, Inc.)

Rent. A. (a) Tenant covenants to shall pay to Landlord during each Lease Year the Lease TermBase Rent, without any setoff or deduction except as otherwise expressly provided herein, in equal monthly installments in the full amount of all one-twelfth of the Base Rent on the Commencement Date and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each succeeding calendar month during the Lease TermTerm of this Lease. All payments of Base Rent shall be paid in advance, without demandnotice, set-off or deduction, in lawful money of the United States, at the address of Landlord set forth in Section 40 of this Lease, or at such other place as Landlord may from time to time designate in writing. If The amount of the Base Rent for each Lease Year after the current Lease Year shall be increased to an amount determined by multiplying the amount of the Base Rent in effect for the preceding Lease Year by an adjustment factor which factor shall be calculated in the following manner. Such adjustment shall be calculated by first determining the All Items Consumer Price Index for All Urban Consumers, CPI-U, Denver (1967 equals 100), as determined by the United States Department of Labor, Bureau of Labor Statistics as of both the latest date preceding the date of commencement of the preceding Lease Year and as of the latest date possible in the Lease Term commences Year just preceding the commencement of the next following Lease Year. Upon receipt of the second of such index figures, the percentage of the increase, if any, of the second of such figures over the first, shall be calculated therefrom (such percentage increases are herein referred to as the “Index Percentage Change”). An annual rental increase (herein referred to as Escalation Rent) shall then be computed by multiplying the Index Percentage Change times the last preceding Base Rent Annual rate as adjusted and set forth in Section 4. Tenant shall pay one-twelfth (1/12) of the resulting Escalation Rent each month during the ensuing Lease Year at the same time Tenant pays the Base Rent. Such payments shall commence on a day other than the first day of a the month or terminates on a day other following Tenant’s receipt of notice setting forth such increase, which notice shall be sent within sixty (60) days of the beginning of each new Lease Year. The first monthly rental payment which includes new Escalation Rent shall also include the Escalation Rent, if any, for each month in the then current Lease Year which elapsed prior to Tenant’s receipt of Landlord’s notice. If there is no increase in Index Percentage Change, there shall be no adjustment, but in no event shall the Base Rent and Escalation Rent payable be less than the last day of a month, then the installments of Base Rent (if any) and Additional Escalation Rent (if any) for such month or months shall be prorated, based on paid during the number of days in such monthpreceding Lease Year. All amounts received by Landlord from Tenant The Base Rent due hereunder shall be applied first apportioned for any fractional calendar months at the beginning and end of the Term of this Lease and any renewals and extensions thereof. (b) If the index specified in Section 4(a) above is discontinued in its current form, or if the basis on which it was calculated should be revised, an appropriate conversion of the revised index to a common base will be made upon conversion factors published by the Bureau of Labor Statistics or upon conversion factors otherwise made available. (c) In addition to the earliest accrued Base Rent and unpaid Rent then outstanding. Tenant’s covenant to the Escalation Rent, Tenant shall pay Rent shall be independent Landlord in monthly installments simultaneously with payments of every other covenant the Base Rent, one-twelfth (1/12th) the Base Operating Cost times the Premises Rentable Area and 100% of the Operating Cost adjustment determined as set forth in Section 6, and such other charges as are required by the terms of this Lease. B. If Tenant fails Lease to pay any installment be made by Tenant. Any such adjustment or change shall be deemed to be additional rent and shall be payable in the manner provided for the payment of Base Rent and Additional Rent or any other item shall be recoverable as Base Rent, and Landlord shall have all rights against Tenant for default in payment thereof as in the case of Rent within ten arrears of Base Rent. (10d) days after Landlord acknowledges that Tenant has paid all amounts under the same becomes original lease, as amended, that were due and payable hereunder, a “Late Charge” equal prior to five percent (5%) the effective date of such unpaid amount will be due this Amended and payable with the next installment of Base Rent by Tenant to LandlordRestated Lease.

Appears in 1 contract

Sources: Office Lease (Horizon Organic Holding Corp)

Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Basic Rent for each calendar year or portion thereof during the Lease Term, shall Extension Term will be due and payable in advance in monthly installments set on the first day of each calendar month during the applicable Extension Term to an amount equal to the Extension Rate. “Extension Rate” means the rental amount, expressed as dollars per square foot of the Premises per year that is the prevailing rental rate per square foot payable by renewal tenants having a credit standing substantially similar to that of Tenant, for properties of equivalent quality, size, utility, and location as the Premises, and located in the same submarket as the Project and leased for a term approximately equal to the applicable Extension Term, taking into consideration base year costs, any tenant inducements (such as allowances and rental abatement periods), and brokerage commissions, all as determined by Landlord. The Extension Rate may include periodic adjustments. Within 60 days after receipt of an Extension Notice, Landlord will notify Tenant of Landlord’s determination of the Extension Rate for the Extension Term. As part of an extension, Landlord will offer concessions that are market for a renewing tenant, such as an updated Base Year, improvement Allowance, market rental abatements, and Tenant brokerage commissions, and such concessions will be taken into account by Landlord as part of the determination of the Extension Rate. Within 30 days after receipt of such notice (the “Tenant Response Period”), Tenant will notify Landlord whether it accepts or rejects Landlord’s determination the Extension Rate for the Extension Term. If Tenant notifies Landlord before the end of the Tenant Response Period of its acceptance of the Extension Rate for the Extension Term, the Lease Termwill be extended as provided herein. Otherwise, without demand. If the Lease will terminate on the then-current Expiration Date. During the Tenant Response Period, upon Tenant’s request, Landlord will (or will cause its broker to) meet with Tenant (which may be by telephone or other electronic means of communication) to discuss Landlord’s determination of the Extension Rate and to consider any counter-proposals by Tenant. Landlord will not be obligated to accept any such counter-proposal, and Tenant’s sole remedy if Tenant is unwilling to extend for an Extension Term commences on a day other than at the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) Extension Rate is to elect not to extend for such month or months shall be proratedExtension Term. Exhibit H to Office Lease Agreement dated July 9, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder2010 between Briargrove Place, L.L.C., a “Late Charge” equal to five percent (5%) of such unpaid amount will be due Texas limited liability company, as Landlord, and payable with the next installment of Base Rent by Tenant to Landlord.Cambium Learning, Inc., a Texas corporation, as Tenant

Appears in 1 contract

Sources: Office Lease Agreement (Cambium Learning Group, Inc.)

Rent. A. Tenant covenants to (a) From and after the Commencement Date, Subtenant shall pay to Landlord during annual fixed rent (the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, “Fixed Rent”) in the full amount of all Base amounts set forth on Schedule 4 attached hereto. Fixed Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in the monthly installments forth on Schedule 4, pro-rated on a per diem basis in the case of any partial months during the Term. Except as otherwise set forth herein, each monthly installment of Fixed Rent shall be payable on or before the first day of each month, without notice or demand and without abatement, set-off or deduction. Throughout the term of this Sublease, so long as Subtenant is not then in monetary default under this Sublease (beyond any applicable notice and cure period), Subtenant shall be entitled to a credit in the amount of $13,414.57 per month to be applied against Fixed Rent otherwise due hereunder as set forth above. Landlord acknowledges that Subtenant will, when entitle to the aforementioned credit, pay the Fixed Rent less the amount of the credit. (b) Commencing on the first anniversary of the Commencement Date, Subtenant agrees to pay to Landlord, as additional rent hereunder, an amount equal to “Subtenant’s Proportionate Share” of (i) the amount payable by Landlord pursuant to Section 4.05 of the ▇▇▇▇▇▇▇▇▇ (“Landlord’s Operating Expenses Payment”), but only to the extent that Landlord’s Operating Expense Payment for any calendar month year during the Lease TermTerm exceeds Landlord’s Operating Expense Payment for calendar year 2007, and (ii) the amount payable by Landlord on account of real property tax (as defined in Section 9.01 of the ▇▇▇▇▇▇▇▇▇) pursuant to Section 9.01 of the ▇▇▇▇▇▇▇▇▇ (“Landlord’s Real Property Tax Payment”), but only to the extent that Landlord’s Real Property Tax Payment for any fiscal year during the Term exceeds Landlord’s Real Property Tax Payment for fiscal year 2007, and (iii) all costs and expenses of every kind and nature paid or incurred by Landlord in the operation, maintenance, repair and replacement of the Building and the Building Common Area, including, without demandlimitation, the utility costs described in Section 21 below (“Landlord’s Building Expenses”), but only to the extent Landlord’s Building Expenses for any calendar year during the Term exceed Landlord’s Building Expenses for calendar year 2007 (all such additional rent payable by Subtenant collectively referred to herein as “Direct Expenses”). If In the Lease Term commences on a day other than event the first day of a month or terminates on a day other than the last day of a monthBuilding is not at least 95% occupied during calendar year 2007, then the installments that portion of Base Rent (if any) and Additional Rent (if any) for such month or months Landlord’s Building Expenses that vary based on occupancy shall be proratedgrossed up as if the Building were 95% occupied. For purposes of this Sublease, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder “Subtenant’s Proportionate Share” shall be applied first calculated by dividing the rentable square footage of the Subleased Premises subject to this Sublease (at the earliest accrued and unpaid Rent then outstandingtime in question) divided by the total rentable square footage of the Building. TenantInitially, the Subtenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five Proportionate Share is twenty-seven percent (527%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord).

Appears in 1 contract

Sources: Sublease (Supportsoft Inc)

Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord the Base Rental. The Base Rental shall be payable in equal monthly installments during the Lease Term, without any setoff or deduction except commencing as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent Preliminary Commencement Date. In the event the Preliminary Commencement Date shall occur on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a calendar month, the Base Rental and the Parking Garage Rental, and if applicable, the Storage Space Rental shall be pro-rated for such month based upon a thirty (30) day month. D. Tenant shall also pay during the Lease Term as Excess Basic Costs hereunder the sum of (1) the Excess Taxes for the applicable tax year plus (2) the Excess Expenses for the applicable calendar year. The Excess Taxes and the Excess Expenses shall be computed separate and independent of each other. Prior to the first anniversary of the Commencement Date and prior to January 1 of each subsequent calendar year during the Lease Term, or terminates on a day other than as soon thereafter as practical, Landlord shall provide to Tenant the last estimated amount of the Excess Expenses and the Excess Taxes for the applicable calendar year. On or before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Excess Basic Costs, a monthmonthly installment equal to one-twelfth of Landlord's estimate. Landlord shall have the right from time to time, then but no more than twice, during any such calendar year to revise the reasonable estimate of Excess Basic Costs to be paid by Tenant for such year and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be based upon such revised estimate. If Landlord does not provide Tenant with an estimate of the Excess Basic Costs by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the previous year's estimate until such time as Landlord provides Tenant with an estimate of such Excess Basic Costs for the current year. Upon receipt of such current year's estimate, an adjustment shall be made for any month during the current year with respect to which Tenant paid monthly installments of Base Rent Excess Basic Costs based on the previous year's estimate. Tenant shall pay Landlord any underpayment within thirty (30) days after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant within thirty (30) days from the date determined by Landlord or credited against the installment of Excess Basic Costs (if any) due for the months immediately following the furnishing of such estimate provided that in the event Tenant shall then be in default hereunder in the payment of any monetary sums (excluding any sums in good faith disputed by Tenant), after notice and Additional Rent (if any) expiration of the applicable cure period, Landlord shall be entitled to apply any such overpayment on account of those sums then due to Landlord. Any amounts paid by Tenant based on any estimate shall be subject to adjustment pursuant to the immediately following paragraph when actual Basic Costs are determined for such month calendar year. Tenant shall not be entitled to any credit or months offset if Taxes decrease below the Taxes for the Tax Base Year or Expenses decrease below the Expenses for the Expense Base Year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall be proratedfurnish to Tenant a detailed statement, based on the number of days in such month. All amounts received certified by Landlord to be correct and including copies of any bills from taxing authorities, of Landlord's actual Basic Costs and the actual Excess for the previous calendar year. If the estimated Excess actually paid by Tenant hereunder for the prior year is in excess of the actual Excess for such prior year, then Landlord shall be applied first apply such overpayment against Excess Basic Costs due or to become due hereunder, provided if the Lease Term expires prior to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant determination of such overpayment, Landlord shall refund such overpayment to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten thirty (1030) days after the same becomes due date of Landlord's statement of the actual Basic Costs for such year. Likewise, Tenant shall pay to Landlord, within thirty (30) days after demand, any underpayment with respect to the prior year, whether or not the Lease has terminated prior to receipt by Tenant of a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease. E. Basic Costs shall mean all costs and payable hereunderexpenses paid or incurred in each calendar year in connection with operating, maintaining, repairing and managing the Building and the Property (exclusive of the Parking Garage), including, but not limited to, the following: (1) Labor costs for all persons, not exceeding the rank of Building manager, performing services required or utilized in connection with the operation, repair, replacement and maintenance of and control of access to the Building and the Property, including but not limited to amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and other similar taxes, workers' compensation insurance, uniforms, training, disability benefits, pensions, hospitalization, retirement plans, group insurance or any other similar or like expenses or benefits. (2) Management fees which shall not exceed either (i) in the event Landlord or an affiliate of Landlord (i.e a “Late Charge” equal to five management company owned by, or under substantially common ownership with, Landlord) performs same, three percent (53%) of the Base Rental and Additional Base Rental (exclusive of Parking Garage Rental) or (ii) in the event an unaffiliated third party performs same, amounts in excess of arms-length competitive prices paid in the Washington, D.C. metropolitan area for such unpaid amount will services. In the event management fees are paid to an unaffiliated third party, Landlord shall also be due entitled to include in the determination of Basic Costs administrative charges for services such as accounting, secretarial, and payable bookkeeping incurred with respect to the Building. Basic Costs shall also include accounting services and legal fees not attributable to leasing or collection activity or negotiations or disputes with Tenant. (3) Rental and/or purchase costs of materials, supplies, tools and equipment used in the operation, repair, replacement and maintenance and the control of access to the Building and the Property. (4) Amounts charged to Landlord by contractors and/or suppliers for services, replacement parts, components, materials, equipment and supplies furnished in connection with the next installment operation, repair, maintenance, replacement of Base Rent and control of access to any part of the Building, or the Property generally, including the heating, air conditioning, ventilating, plumbing, electrical, elevator and other systems and equipment. (5) Premiums and deductibles paid by Landlord for all risks of physical loss insurance, earthquake and extended coverage insurance, liability and extended coverage insurance, rental loss insurance, elevator insurance, boiler insurance and other insurance customarily carried from time to time by landlords of comparable office buildings or required to be carried by Landlord's Mortgagee. (6) Charges for utilities, including but not limited to water, gas and sewer, but excluding those electricity charges which Tenant pays directly to the utility company or Landlord.

Appears in 1 contract

Sources: Sublease (Informax Inc)

Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent prorated for the month in which the Closing Date occurs, with Seller entitled to receive rent for the period prior to the Closing Date, and with Purchaser entitled to receive rent for the period from and after the Closing Date. No rent proration shall be made for rents other than rents which have been received by either Seller or Purchaser; no credit proration shall be made at any time for rents which have accrued but which have not been paid in cash. Seller's remedies for rent unpaid at the time of every Closing are stated in Section 6.4.3. below. Rents which have been received by Seller for the month in which the Closing occurs will be considered prepaid rent for the portion of that month occurring from and after the Closing, and Purchaser shall receive credit for prepaid rents hereunder. 6.4.2.1. Seller shall be entitled to fixed, minimum and base rents for the period prior to the Closing Date. Seller shall be entitled to retain payments it has received from Tenant, or for which it has billed Tenant, for heat, electricity and real estate taxes, for the month in which Closing occurs. Purchaser and Seller will prorate these items as provided in Sections 6.4.1. and 6.4.6. 6.4.2.2. Overage rents ("OVERAGE RENTS") to be prorated hereunder shall include consumer price index, escalation payments and other covenant similar rental payments in excess of fixed, minimum and base rents under the Leases, whether finally determined before or after the expiration of the fiscal years under the Leases. Charges ("CHARGES") to be prorated hereunder shall include maintenance charges, taxes, operating expenses and similar expenses to the extent Tenant under Lease pays monthly estimates with an adjustment at the end of each fiscal year applicable to Charges. Overage Rents and Charges shall be separately prorated under each Lease on the basis of the fiscal year set forth in this Lease. B. If Tenant fails to pay any installment each Lease for the payment of Base Overage Rents and Charges. All interim Overage Rent and Additional Rent or any other item of Rent within ten (10) days after Charges payments made before the same becomes due Closing Date shall be retained by Seller until year-end adjustment and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.determination

Appears in 1 contract

Sources: Purchase and Sale Agreement (Usa Detergents Inc)

Rent. A. Tenant covenants Rent under the Leases shall be prorated to Transferee for the period on and after the Closing Date ("Transferee's Ownership Period"), regardless of whether or not such rent has been paid to the Transferors. With respect to any rent arrearages arising under the Leases, after Closing Transferee shall pay to Landlord during the Lease TermTransferors any rent actually collected by Transferee which is applicable to the period preceding the Closing Date ("Transferor's Ownership Period"); provided, without any setoff or deduction except as otherwise expressly provided hereinhowever, the full amount of that all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed rent collected by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder Transferee shall be applied first to all unpaid rent accruing during Transferee's Ownership Period, and then to unpaid rent accruing during Transferors' Ownership Period. After Closing, Transferee shall take reasonable steps to recover any rent arrearages for the earliest accrued benefit of the Transferors, provided that in no event shall Transferee be required to institute any lawsuit or unlawful detainer action, and unpaid Rent then outstandingprovided further that the Transferors shall pay to Transferee all amounts reasonably incurred by Transferee in collecting such amounts. Tenant’s covenant If the Transferors do not pay such reasonable collection costs, Transferee may offset such reasonable costs against any rent arrearages collected. The Transferors shall not be permitted to pay Rent take any steps to recover any rent arrearages, provided that the Transferors shall be independent have the right to file an action prior to the Closing Date (and prosecute such action after the Closing Date) to recover from a Tenant any rent arrearages or other damages, so long as such action does not seek a termination of every other covenant set forth in this the Lease. B. If , and the Transferors shall have the right after the Closing Date to sue ▇ ▇enant at such time as such Tenant fails to pay any installment is no longer a tenant of Base Rent and Additional Rent the Property or any other item of Rent within ten (10) days portion thereof. To the extent that any Transferor receives prior to the Closing Date any percentage rent payments that are attributable to the period on or after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.the

Appears in 1 contract

Sources: Contribution Agreement (Spieker Properties Inc)

Rent. A. Tenant covenants to shall pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, Department rent in the full amount of all Base $xxx.xx per year (“Rent”). Rent for the First Lease Year shall be due on the Effective Date of this Lease and Additional for every year thereafter on January 1st of each Lease Year. B. All Rent due hereunder shall be paid by check made payable to "Treasurer, State of New Jersey" and delivered to: Department of Environmental Protection Natural & Historic Resources Office of Leases & Concessions Mail Code 501-04C ▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ If any check for payment is returned to the full amount of all such other sums of money as shall become due under this LeaseDepartment, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such future payments shall be paid concurrently with made by certified check or money order. C. Any payment of Rent not made on or before the payments dates provided in Subparagraph A of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, this Paragraph shall be considered past due. All past due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months amounts shall be prorated, based on the number assessed a monthly penalty of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the total amount due calculated on the tenth (10th) day of each month after the due date and shall increase every thirty (30) days thereafter. D. The cost of enforcing Tenant's compliance with this Lease shall be “Additional Rent.” If the Department incurs any expense, including reasonable attorney's fees, due to the material breach of this Lease by Tenant or Tenant's failure to perform any obligation of Tenant hereunder, Tenant shall be liable for payment of such unpaid amount will be due expense as Additional Rent added to and payable with made a part of the next installment payment of Base Rent due after the Department notifies Tenant of such Additional Rent. Nonpayment of Additional Rent provides the Department the same rights against Tenant as if Tenant fails to pay Rent. E. If this Lease is renewed pursuant to Subparagraph 2B herein, the Rent shall be increased to reflect the current fair market value of the Premises as determined by Tenant to Landlordchanges in the USDA Soil Rental Rates or value of similar real estate rentals. However, if the USDA Soil Rental Rates and value of similar real estate rentals decreased or remained stable, the Rent shall not decrease.

Appears in 1 contract

Sources: Lease Agreement

Rent. A. (a) Tenant, in consideration of the leasing of the Premises to Tenant by Landlord, hereby covenants and agrees to pay to Landlord during the Lease Termfollowing base rent (hereinafter called the “Base Rent”) as, without any setoff or deduction except as otherwise expressly when and in the manner herein provided hereinand subject to the terms, provisions and conditions herein set forth: Commencing on the full amount execution of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all and during the Term of which hereinafter may be collectively called “Rent.” In additionthe Lease, including the Renewal Terms (if Tenant shall elect to extend the Initial Term), Tenant shall paypay Base Rent as follows: Annual Base Rent from the Rent Commencement Date and for the first five years of the Initial Term shall be an amount equal to 8½ % of appraised fair market value of the Land determined by taking the average of the values established by an MAI appraiser selected by Landlord, as Additional Rentan MAI appraiser selected by Tenant, all rentand an MAI appraiser selected by the other two MAI appraisers, sales each appraiser licensed in the State of Alabama and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authoritywith local knowledge, such payments to be in addition to all other payments required Base Rent to be paid in quarterly installments annually with one quarter of the annual payment due each quarter. Beginning with the sixth year from the Rent Commencement Date, and every five years thereafter until termination of this Lease, the annual Base Rent will be adjusted to Landlord an amount equal to the product of (a) the annual Base Rent paid during the immediately preceding five-year period and (b) the Consumer Price Index (CPI) for the last month of the immediately preceding five-year period divided by Tenant under the CPI for July 2006. However, the amount by which the annual Base Rent will be adjusted at the beginning of every sixth year will be limited to the annual Base Rent for the immediately preceding five-year period multiplied by a minimum of 5.0% and a maximum of 7.5%. The CPI will be calculated using information from the U.S. city average CPI for all items, base period 1982-1984 = 100, series id CUUR0000SA0 (or equivalent series if the series id changes). Rent to be paid in quarterly installments with one quarter of the total annual payment due each quarter. For example, assume the annual Base Rent at the end of the fifth year was $82,000 per year, the CPI for July 2006 was 200, and the CPI for the last month of the fifth year was 212. The annual Base Rent for the next five years would be $86,920 ($82,000 multiplied by 212 divided by 200). If the CPI for the last month of the fifth year was 216, then the maximum increase of 7.5% would apply, such that the annual Base Rent for the next five years would be $88,150 ($82,000 multiplied by 107.5%). Base Rent for the first five years of the First Renewal Term (if such option is exercised by Tenant) shall be an amount equal to 8½ % of appraised fair market value of the Land determined by taking the average of the values established by an MAI appraiser selected by Landlord, an MAI appraiser selected by Tenant, and an MAI appraiser selected by the other two MAI appraisers, each appraiser licensed in the State of Alabama and with local knowledge. Beginning with the sixth year of such Renewal Term, and every five years thereafter until termination of this Lease, the annual Base Rent will be adjusted to an amount equal to the product of (a) the annual Base Rent paid during the immediately preceding five-year period and (b) the CPI for the last month of the immediately preceding five-year period divided by the CPI for the last month of the Initial Term of this Lease. Such payments However, the amount by which the annual Base Rent will be adjusted at the beginning of every sixth year will be limited to the annual Base Rent for the immediately preceding five-year period multiplied by a minimum of 5.0% and a maximum of 7.5%. The CPI will be calculated using information from the U.S. city average CPI for all items, base period 1982-1984 = 100, series id CUUR0000SA0 (or equivalent series if the series id changes). Rent to be paid in quarterly installments with one quarter of the total annual payment due each quarter. (b) All Base Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in equal quarterly installments in advance in monthly installments on the first day of each calendar month during quarter, with the Lease Term, without demand. If date of execution of this lease serving as day 1 of quarter 1 and each subsequent quarter beginning exactly three (3) months from the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments prior date. (c) All payments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after sums due hereunder shall be made to Landlord at the same becomes due and payable hereunder, a “Late Charge” equal address provided herein for notices to five percent (5%) of Landlord or to such unpaid amount will be due and payable with the next installment of Base Rent other address as Landlord may direct by Tenant written notice to LandlordTenant.

Appears in 1 contract

Sources: Ground Lease

Rent. A. Tenant covenants to pay to Landlord during The Rent due for the entire Lease Term, without Term is $ . Rent shall also include any setoff other charges identified in this Lease as “Rent” or deduction except as otherwise expressly provided herein, the full amount of all Base “Additional Rent”. Rent and Additional Rent is payable in one of the following payment options: If Rent is not paid in accordance with the terms set forth above, Landlord will commence with the removal of the Tenant. Rent is due hereunder on the specified dates in the amounts shown above. Any Rent received more than five (5) days after the due date shown above (the 1st of every month for the monthly option) is subject to a Fifty Dollar ($50.00) late fee which shall be due as Additional Rent. In addition, beginning with the sixth day after the due date of a rent payment, you will be charged an additional charge of $5.00 per day until payment is received in full. Tenant’s right of possession and all of Landlord’s obligations are expressly contingent on prompt payment of Rent and use of the full amount of all such other sums of money as shall become Premises by Tenant is granted only on the condition that Rent is paid on time. If Tenant fails to pay Rent or Additional Rent due under this Lease, all Landlord will give Tenant a three (3) day notice to pay or vacate Premises (excluding weekends and holidays). Should Tenant fail to pay in full, Landlord will refer the matter to an attorney to proceed with eviction. Landlord will not accept partial payment of which hereinafter may be collectively called “Rent or Additional Rent.” In addition. Should Tenant elect to vacate the Apartment, Tenant shall paycontinues to remain liable for all Rent and charges due through the balance of the Lease Term. Tenant is responsible to pay all court costs and attorney’s fees in an eviction suit, as Additional Rent, all rent, sales or for any other legal action commenced by Landlord for the enforcement of the terms and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under conditions of this Lease. Such payments shall Owed rent will be paid concurrently with the payments of the Rent on which the tax is basedsent to Collections and a 30% Collections Fee will be assessed. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder Payments shall be applied first to any unsatisfied charges, late fees, repairs, or other fees owed by Tenant, and then to Additional Rent that is owed, then to Rent. Rent payments will be applied to the earliest accrued date owing. This Lease does not automatically renew upon expiration of the Lease Term designated. In order for Current Tenants to remain in their current room, they must contact the Management office and unpaid Rent then outstandingsubmit a Lease renewal form. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this LeaseApartments are filled on a first come basis. Current Tenants must reserve early or risk losing their current room assignment. Landlord may accept or deny any such renewal request at its sole discretion. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement

Rent. A. Tenant covenants to pay to Landlord during During the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinTenant must pay Landlord in advance, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month, the monthly Base Rent and monthly Estimated Expenses, without notice, demand, abatement, offset or deduction. Base Rent and Estimated Expenses shall be appropriately prorated by Landlord on a per diem basis for any partial month during the Lease Term, without demand. If the Lease Term commences on a day other than including, if applicable, the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. TenantUpon ▇▇▇▇▇▇’s covenant to pay Rent shall be independent execution of every other covenant set forth in this Lease. B. If , Tenant fails shall pay to pay any installment of Landlord the Base Rent and Estimated Expenses for the first (1st) full calendar month of the initial Term which is not abated and any partial month in the Term that precedes it. Any other Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will shall be due and payable with the next installment of Base Rent by Tenant on or before 10 days after billing by Landlord. Attached hereto as Exhibit D are instructions for all payments by Tenant to Landlord, which may be updated from time to time by written notice delivered by Landlord to Tenant. Tenant’s payment obligations under this Lease are absolute and unconditional and independent covenants from Landlord’s covenants under this Lease. If Tenant is delinquent in the payment of any Rent for more than 5 days, Tenant shall pay to Landlord a late charge equal to 5% of such delinquent sum and interest on the late fee and unpaid Rent from the date such amount was due until paid in full at the Applicable Interest Rate; provided Tenant shall not be obligated to pay such late charge or interest for the first late payment in any 12 month period so long as Tenant makes such payment within 5 business days after notice from Landlord that such amount was not paid when due. Said late charge shall be in addition to any other rights and remedies available to Landlord under this Lease, at law, or in equity, and shall not be construed as a penalty. Tenant shall also pay Landlord any cost incurred by Landlord in connection with a check presented by Tenant that is declined due to insufficient funds.

Appears in 1 contract

Sources: Lease (Unusual Machines, Inc.)

Rent. A. During each calendar year subsequent to the Base Year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord as Additional Base Rental hereunder the sum of (1) Tenant's Pro Rata Share of the amount, if any, by which Taxes (hereinafter defined) for the applicable calendar year exceed Taxes for the Base Year plus (2) Tenant's Pro Rata Share of the amount, if any, by which Expenses (hereinafter defined) for the applicable calendar year exceed Expenses for the Base Year. For purposes hereof, "Expenses" shall mean all Basic Costs with the exception of Taxes. Tenant's Pro Rata Share of increases in Taxes and Tenant's Pro Rata Share of increases in Expenses shall be computed separate and independent of each other prior to being added together to determine the "Excess." In the event that Taxes and/or Expenses, as the case may be, in any calendar year decrease below the amount of Taxes or Expenses for the Base Year, Tenant's Pro Rata Share of Taxes and/or Expenses, as the case may be, for such calendar year shall be deemed to be $0, it being understood that Tenant shall not be entitled to any credit or offset if Taxes and/or Expenses decrease below the corresponding amount for the Base Year. Prior to January 1 of each calendar year after the Base Year during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinsoon thereafter as practical, Landlord shall make a good faith estimate of the full amount Excess for the applicable calendar year and Tenant's Pro Rata Share thereof. Landlord agrees to use good faith efforts to provide Tenant with such estimate by no later than April 30th of all Base Rent and Additional Rent due hereunder and the full amount applicable calendar year. On or before the first day of all each month during such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additioncalendar year, Tenant shall paypay to Landlord, as Additional RentBase Rental, all renta monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of the Excess. Landlord shall have the one time right during each calendar year during the Lease Term to revise the estimate of Basic Costs and the Excess for such year and provide Tenant with a revised statement therefor, sales and use taxes or other similar taxesthereafter the amount Tenant shall pay each month shall be based upon such revised estimate. Each revised estimate shall be accompanied by an explanation of the differences between the initial estimate and revised estimate, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be including the particular line items of expense that are in addition to all other payments required or of a materially different amount than those assumed in the preparation of the initial estimate. If Landlord does not provide Tenant with an estimate of the Basic Costs and the Excess by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the previous years estimate until such time as Landlord provides Tenant with an estimate of Basic Costs and the Excess for the current year. Upon receipt of such current year's estimate, an adjustment shall be made for any month during the current year with respect to which Tenant paid monthly installments of Additional Base Rental based on the previous year's estimate. Tenant shall pay Landlord for any underpayment within thirty (30) days after demand. Any overpayment shall be credited against the installment of Base Rental and Additional Base Rental due for the month immediately following the furnishing of such estimate. If the amount of such overpayment cannot be fully credited against the immediately following installment of Base Rental and Additional Base Rental, any uncredited amount shall be promptly refunded to Landlord Tenant. Any amounts paid by Tenant under this Lease. Such payments based on any estimate shall be paid concurrently with subject to adjustment pursuant to the payments immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, Landlord shall be due furnish to Tenant a statement of Landlord's actual Basic Costs and payable in advance in monthly installments on the first day actual Excess for the previous calendar year. Landlord agrees to use good faith efforts to provide Tenant with such estimate by no later than April 30th of each the applicable calendar month during the Lease Term, without demandyear. If the estimated Excess actually paid by Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of the Excess for such prior year, then Landlord shall apply such overpayment against Base Rental and Additional Base Rental due for the month immediately following the furnishing of such statement, provided if the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first expires prior to the earliest accrued and unpaid determination of such overpayment, Landlord shall refund such overpayment to Tenant after first deducting the amount of any Rent then outstandingdue hereunder. Tenant’s covenant to pay Rent shall In addition, If the amount of such overpayment cannot be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any fully credited against the immediately following installment of Base Rent Rental and Additional Rent or Base Rental, any other item of Rent uncredited amount shall be promptly refunded to Tenant. Likewise, Tenant shall pay to Landlord, within ten thirty (1030) days after demand, any underpayment with respect to the same becomes due and payable hereunderprior year, a “Late Charge” equal whether or not the Lease has terminated prior to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent receipt by Tenant to Landlordof a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease.

Appears in 1 contract

Sources: Office Lease (Trenwick Group Inc)

Rent. A. Commencing with the Rent Commencement Date as defined below, and thereafter during the term of this Agreement, Tenant covenants to shall pay to Landlord during annual rent described below, payable in equal monthly installments (the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease”). Such payments All of the Rent amounts shall be paid concurrently with by the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year Tenanton or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on before the first day of each calendar month in advance. The Rent during the Lease Termfirst year of any Renewal Term shall increase by 3% from year five (5) of the prior term; and thereafter, without demandthe rate shall increase by 3% each year. If Year 1 Monthly Rent: Year 2 Monthly Rent: Year 3 Monthly Rent: Year 4 Monthly Rent: Year 5 Monthly Rent: Payment of Rent by Tenant to Landlord shall commence on the Lease Term commences on a day other than day(i) the first day Tenant’s cafe at the Leased Premises opens for business, or (ii) the Specified Opening Date, as mutually agreed to by the Parties if such date differs from subsection (i), whichever is sooner (the “Rent Commencement Date”) . In the event of a month or terminates on a day other than Delay Period as described in Section 2, the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant obligation to pay Rent pursuant to the Rent Commencement Date shall be independent tolled until such time as Tenant opens for business, defined as the date that Tenant operates and conducts its business pursuant to the Permitted Purpose, as described in Section 5. Such a date will be formalized with an inspection by the Property Management Department to ensure the leased premises are in acceptable condition for operation, and by the passing of every other covenant set forth in this Lease. B. If Tenant fails to pay any required Health Inspections and issuance of Health Permits. Any installment of Base Rent accruing hereunder and/or other moneys payable hereunder by Tenant to Landlord which are hereby deemed Additional Rent if not paid within seven days of when due shall bear interest from the date when the same shall have become due and payable until the same shall be paid at an annual rate of five (5%) percent in excess of the prime rate from time to time of the Bank of America (the "Default Rate"). All payments of Rent and Additional Rent and other sums to be made to Landlord under this Lease shall be made at such place and in such a manner as Landlord shall designate in writing from time to time. The Landlord reserves the right to request that Tent pay the Rent with a certified bank check or wire transfer.. Landlord’s acceptance of less than the correct amount of Rent, Additional Rent, or other amount due hereunder shall not relieve Tenant of its obligation to pay any other item of Rent within ten (10) days after the same becomes monies due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord. No endorsement or statement on a check or a statement in a letter accompanying a check or payment shall be considered an accord and satisfaction, and the Landlord may accept the check or payment without prejudice to the Landlord’s right to recover the balance or to pursue other remedies available to the Landlord.

Appears in 1 contract

Sources: Lease Agreement

Rent. A. Beginning on the Rent Commencement Date and continuing thereafter throughout the Term, Tenant covenants will pay the Rent in monthly installments in advance, without demand, deduction or offset, in lawful money of the United States commencing on the Rent Commencement Date, and continuing on the first day of each and every month thereafter until the Termination Date. Rent payments for any fractional calendar month at the end, or the beginning of the term of the Lease, will be prorated. In the event Tenant fails to pay any installment of Rent hereunder within ten days of the due date of such installment, Tenant will pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full on demand a late charge in an amount equal to four percent (4%) of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, installment. The provision for such payments to late charge will be in addition to all of Landlord’s other payments required to rights and remedies hereunder or at law and will not be paid to Landlord by Tenant under this Leaseconstrued as liquidated damages or as limiting Landlord’s remedies in any manner. Such payments shall be paid concurrently Commencing with the payments second Lease Year hereunder, Base Annual Rent will increase on each anniversary of the Rent on which Commencement Date by the tax is basedBase Annual Rent Escalation over the Base Annual Rent paid the previous Lease Year. Base Rent Commencing January 1 of the year following the Commencement Date and Additional Rent continuing thereafter for each calendar year or portion thereof during the Lease Term, shall be due Landlord will present to Tenant Tenant's Forecast Operating Expenses. Tenant will pay without deduction, offset, or counter claim, and payable otherwise in advance in monthly installments the same manner as Base Annual Rent on the first day of each calendar month during the Lease Term, without demandan amount equal to one twelfth (1/12) of Tenant’s Forecast Operating Expenses as Additional Rent. If From time to time during any calendar year, Landlord may revise Tenant’s Forecast Operating Expense and adjust Tenant’s monthly payments to reflect Landlord’s such revisions. Promptly after the full execution of this Lease Term commences on (and delivery to Tenant of a day other than copy thereof), Tenant shall pay Landlord the first day month's Rent due hereunder. Notwithstanding the foregoing, and provided there is no default or event of a month or terminates on a day other than the last day of a monthdefault hereunder by Tenant, then the installments of Base Annual Rent (if anybut not Operating Expenses) and Additional Rent (if any) for such month or months shall be prorated, based on abated hereunder for the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten five (105) days months after the same becomes due and payable hereunder, a “Late Charge” equal to five percent Commencement Date (5%) of such unpaid amount the "Rent Abatement"). Tenant will be due responsible for its Proportionate Share of the Operating Expenses for the Building as well as its utilities and payable with the next installment of Base Rent by Tenant to Landlordjanitorial services.

Appears in 1 contract

Sources: Lease Agreement (Precision Biosciences Inc)

Rent. A. 3.1 Tenant covenants to shall pay to Landlord the following amounts as rent for the Premises: (a) During the Lease Term, Tenant shall pay to Landlord, as monthly rent, the base rent specified in the Basic Lease Information (the "Base Rent"). (b) During each calendar year or part thereof during the Lease Term, without any setoff Tenant shall pay to Landlord, as additional rent, Tenant's Percentage Share (as hereinafter defined) of all Insurance Costs (as hereinafter defined) paid or deduction except incurred by Landlord in such calendar year. (c) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as otherwise expressly provided hereinadditional rent, Tenant's Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year. (d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the full amount of all Base Rent and Additional Rent due hereunder and Allowance Rent, if any, as provided in Exhibit B attached hereto. (e) During each calendar year or part thereof during the full amount of all such other sums of money Lease Term, Tenant shall pay to Landlord, as shall become due under this Leaseadditional rent, all of which the Management Fee (as hereinafter may be collectively called “Rentdefined).” In addition (f) Throughout the Lease Term, Tenant shall pay, as Additional Rentadditional rent, all rent, sales other amounts of money and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments charges required to be paid to Landlord by Tenant under this Lease, whether or not such amounts of money and charges are otherwise designated "additional rent." As used in this Lease, "rent" shall mean and include all Base Rent, Allowance Rent, all additional rent and all other amounts payable by Tenant in accordance with this Lease. Such payments If the Lease Term ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b) and 3.1(c) hereof applicable to the calendar year in which the end of the term occurs shall be paid concurrently with prorated on the payments basis which the number of days from the Rent commencement of such calendar year to and including the date on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during end of the Lease Term, term occurs bears to three hundred sixty five (365). 3.2 Tenant shall be due and payable in advance in pay all monthly installments of (a) Base Rent, (b) monthly installments of the Management Fee, (c) monthly installments of Landlord's estimates of amounts payable under sections 3.1(b) and 3.1(c) hereof, (d) monthly installments of the Allowance Rent (if applicable), and (e) monthly installments of amounts payable, if any, by Tenant pursuant to section 10.1 below on account of Capital Repairs or section 14.2 below on account of Capital Expenditures (collectively, "Monthly Rent") to Landlord, in advance, on or before the first day of each and every calendar month during the Lease Term, without notice, demand, deduction or offset, in lawful money of the United States of America. Landlord instructs Tenant to pay all such Monthly Rent to the address specified therefor in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant's designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect. If the Lease Term ▇▇▇▇▇▇'s obligation to pay Base Rent hereunder commences on a day other than the first day of a month calendar month, or if the Lease Term terminates on a day other than the last day of a calendar month, then the Base Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Upon signing this Lease, Tenant shall pay to Landlord an amount equal to the Base Rent for the first full calendar month of the Term in which monthly Base Rent is payable, which amount Landlord shall apply to the Base Rent for such first full calendar month. 3.3 The additional rent payable pursuant to sections 3.1(b) and 3.1(c) hereof shall be calculated and paid in accordance with the following methods: On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall deliver to Tenant Landlord's reasonable estimate of Insurance Costs and Property Taxes, which it anticipates will be paid or incurred for the ensuing calendar year, and Tenant shall pay to Landlord an amount equal to the estimated amount of such expenses for such year in equal monthly installments during such year with the installments of Base Rent Rent. Landlord reserves the right to revise such estimate from time to time (if any) but not more than once per calendar year). In addition, on or before the first day of each calendar year during the Lease Term, Landlord shall deliver to Tenant an invoice for the monthly amount of the Management Fee required to be paid by Tenant pursuant to this Lease for the ensuing calendar year, and Additional Rent (if any) Tenant shall pay to Landlord the Management Fee for such month year in equal monthly installments during such year with the installments of Base Rent. 3.4 Landlord shall furnish to Tenant within four months following the end of the applicable calendar or months fiscal year, as the case may be, a statement setting forth (i) the amount of such expenses paid or incurred during the just ended calendar year, and (ii) the amount that ▇▇▇▇▇▇ has paid to Landlord for credit against such expenses for such period. If Tenant shall have paid more than its obligation for such expenses for the stated period, Landlord shall, at its election, either (i) credit the amount of such overpayment toward the next ensuing payment or payments of Monthly Rent that would otherwise be prorateddue or (ii) refund in cash to Tenant the amount of such overpayment. If such year-end statement shall show that Tenant did not pay its obligation for such expenses in full, based on then Tenant shall pay to Landlord the number amount of such underpayment within thirty (30) days in such monthfrom Landlord's billing of same to Tenant. All amounts received by Landlord from Tenant hereunder shall be applied first may, at Tenant's sole cost and expense, cause an audit of Landlord's books and records to determine the earliest accrued accuracy of Landlord's ▇▇▇▇▇▇▇▇ for Insurance Costs and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in Property Taxes under this Lease. B. If , provided Tenant fails completes (and delivers to pay any installment of Base Rent and Additional Rent or any other item of Rent Landlord the written results of) such audit within ten one hundred twenty (10120) days after ▇▇▇▇▇▇'s receipt of the same becomes due year-end statement described above setting forth the annual reconciliation of Insurance Costs and payable hereunderProperty Taxes, and provided further that the person or entity performing such audit is not compensated on any type of contingent basis. If such audit reveals that the actual Insurance Costs and Property Taxes for any given year were less than the amount that Tenant paid for Insurance Costs and Property Taxes for any such year, then unless Landlord contests such audit results as provided below, Landlord shall credit the excess to Tenant's next payment of Monthly Rent and Landlord shall pay the cost of Tenant's audit. If such audit reveals that the actual Insurance Costs and Property Taxes for any given year were more than the amount that Tenant paid for Insurance Costs and Property Taxes for any such year, Tenant shall pay such amount to Landlord within thirty (30) days after completion of the audit. Landlord shall have the right to contest the results of ▇▇▇▇▇▇'s audit and thereafter promptly have an audit performed ("Landlord's Audit") by a “Late Charge” equal certified public accounting firm selected by Landlord and acceptable to five percent (5%) Tenant in Tenant's reasonable discretion. In such case, the results of such unpaid amount will ▇▇▇▇▇▇▇▇'s audit shall be due binding and payable with conclusive on Landlord and Tenant, and any resulting overpayment or underpayment shall be handled as provided above. Tenant shall pay the next installment cost of Base Rent ▇▇▇▇▇▇▇▇'s Audit unless Landlord's Audit confirms the accuracy of the audit performed by Tenant to ▇▇▇▇▇▇, in which case Landlord shall pay the cost of Landlord.'s Audit. The provisions of this section shall survive the expiration or sooner termination of this Lease. ARTICLE 4

Appears in 1 contract

Sources: Lease (Gigamon Inc.)

Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for Month 6 of the Lease Term that Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 of which hereinafter may be collectively called “this Lease. ▇▇▇▇▇▇ agrees to pay Landlord the Base Rent.” , without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In additionaddition to the Base Rent, Tenant shall paypay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, sales and use taxes the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or other similar taxes, if any, levied expiration or imposed by termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments prorated Rent shall be paid concurrently with on the payments of the Rent on which the tax is based. Base Rent Commencement Date, and Additional any prorated Rent for each the final calendar year or portion thereof during the Lease Term, month hereof shall be due and payable in advance in monthly installments paid on the first day of each the calendar month during in which the Lease Term, without demand. If the Lease Term commences on a day other than the first day date of a month expiration or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasetermination occurs. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (SolarJuice Co., Ltd.)

Rent. A. Tenant covenants to shall pay to Landlord, or with Landlord’s consent directly to Primary Landlord, as the base rent for the Premises (the “Base Rent”) the amount set in Section 1(i), subject to adjustment as hereinafter provided. Nothing contained herein shall be construed at any time so as to reduce the Base Rent payable hereunder below the amount set forth above. Base Rent shall be adjusted in accordance with the following provisions (any such adjustment hereinafter the “Base Rent Adjustment”). Base Rent includes a 2008 base year attributable to Base Operating Expenses as specified in Section 1(h) (“Base Operating Expenses”). In the event actual Operating Expenses are below Base Operating Expenses, Tenant shall not be entitled to any credit or offset in any manner. Upon receipt of Primary Landlord’s estimate, Landlord shall provide Tenant with an estimate of Operating Expenses for the 2009 calendar year and each subsequent calendar year in the Term (each, an “Operating Period”). If Operating Expenses (exclusive of Taxes) per square foot of Rentable Area of the Premises during the Lease Term2009 Operating Period or each subsequent Operating Period, as estimated by Primary Landlord, exceed Base Operating Expenses (exclusive of Taxes), Tenant shall pay Base Rent for such Operating Period equal to the Base Rent set forth above adjusted upward by an amount equal to the product of (i) the difference between Operating Expenses per square foot of Rentable Area of the Premises for such Operating Period and the Base Operating Expenses, multiplied by (ii) the Rentable Area of the Premises. The Base Rent Adjustment for 2009 shall not exceed 105% of the Base Operating Expenses. Thereafter, the Base Rent Adjustment shall not exceed 105% of the prior year’s Operating Expenses. This annual 5% limitation shall not apply to insurance or utilities. Landlord shall pay any Base Rent Adjustment attributable to Taxes and any special assessments paid in lieu of taxes that are in excess of the 2008 base year attributable to Taxes. Landlord shall, within thirty (30) days after receipt by Primary Landlord, furnish Tenant with a statement of the Base Operating Expenses and Operating Expenses during each subsequent Operating Period as well as a computation of the Base Rent Adjustment each as received by Landlord without adjustment of any setoff or deduction except type (“Expense Statement”). Except as otherwise expressly provided herein, the full amount failure of all Landlord to provide such statement within said time period shall not be a waiver of Landlord’s right to collect any Base Rent and Additional Adjustment. If such statement shows that the actual amount Tenant owes is more than the estimated Base Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additionAdjustment paid by Tenant, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with pay the payments difference within thirty (30) days after delivery of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demandExpense Statement. If the Lease Term commences on a day other Expense Statement shows that Tenant paid more than the first day of actual amount owed, Tenant shall receive a month or terminates on a day other than the last day of a month, then the installments of Base Rent credit therefor within thirty (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (1030) days after delivery of the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordExpense Statement.

Appears in 1 contract

Sources: Sublease Agreement (GTX Inc /De/)

Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be Obtained by Tenant under Section 12 and Exhibit of which hereinafter may be collectively called “this Lease. Tenant agrees to pay Landlord the Base Rent.” , without prior notice or demand, abatement, offset, deduction or claim except as expressly otherwise set forth herein, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In additionaddition to the Base Rent, Tenant shall paypay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenants Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, sales and use taxes the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or other similar taxes, if any, levied expiration or imposed by termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments prorated Rent shall be paid concurrently with on the payments of the Rent on which the tax is based. Base Rent Commencement Date, and Additional any prorated Rent for each the final calendar year or portion thereof during the Lease Term, month hereof shall be due and payable in advance in monthly installments paid on the first day of each the calendar month during in which the Lease Term, without demand. If the Lease Term commences on a day other than the first day date of a month expiration or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasetermination occurs. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (New Focus Inc)

Rent. A. Section 4.01 Tenant covenants to pay to Landlord during in lawful United States currency the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Annual Base Rent. All Annual Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with payable, in equal monthly installments, in advance, beginning on the payments of the Rent on which the tax is based. Base Rent Commencement Date, and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments continuing on the first day of each and every calendar month thereafter during the Lease Term, without demandprovided that no Annual Base Rent shall be payable during the Free Rent Period. If Should the Lease Term commences Commencement Date fall on a day other than the first day of a the month, then Tenant shall pay Rent for the fractional month or terminates commencing on a day other than the Commencement Date and ending on the last day of the month in which the Commencement Date occurs on a per diem basis (calculated on the basis of a thirty-day month), then payable upon occupancy of the installments of Base Rent (if any) Premises by Tenant. All Rent, including, without limitation, Additional Rent, and Additional Rent (if any) for such month or months other payments to Landlord under this Lease shall be proratedpaid to Landlord, based on the number of days without demand, setoff, or deduction whatsoever, except as specifically provided in this Lease, at Landlord’s Notice Address or at such monthother place as Landlord shall designate in writing to Tenant. All amounts received by Landlord from Tenant hereunder shall be applied first Except to the earliest accrued and unpaid Rent then outstanding. extent otherwise provided herein, Tenant’s covenant obligations to pay Rent and other amounts due under this Lease are covenants independent of the Landlord’s obligations under this Lease. Section 4.02 All monetary obligations of Tenant to Landlord under this Lease, of any type or nature, other than Annual Base Rent, shall be independent denominated as “Additional Rent”. Landlord shall have the same rights and remedies with respect to defaults in the payment of every other covenant Additional Rent as set forth in this Lease. B. If Tenant fails Lease with respect to pay any installment payment of Annual Base Rent. The term “Rent” when used in this Lease shall be deemed to include Annual Base Rent and all forms of Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordRent.

Appears in 1 contract

Sources: Lease Agreement (Microphase Corp)

Rent. A. Section 3.01. Commencing on the Commencement Date and continuing through April 30, 1998 Tenant covenants agrees to pay to Landlord during annual rent ("Base Rent") for the Lease Termuse of the Premises, without any setoff or deduction except as otherwise expressly provided hereinin lawful money of the United States in the following amounts: Year 1: From May 1, the full amount of all 1997 through and including April 30, 1998 annual Base Rent and Additional of $30,948.00 payable in equal monthly installments of $2,579.00. All installments of Base Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each month in advance without setoffs or deductions. Rent for any period less than a full calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated. Section 3.02. In addition to Base Rent, based on Tenant shall pay as additional rent (hereinafter called "Additional Rent") (a) Tenant's Pro Rata Share (as hereinafter defined) of all real estate taxes and assessments of any kind relating to the number Property in excess of days those which were assessed for the 1997 tax fiscal year ("Base Tax Year") and (b) a fixed fee as specified below for all Operating Costs (as hereinafter defined) incurred by the Landlord and attributable to Tenant's use of the Premises (collectively "Landlord's Expenses"). Tenant's yearly Pro Rata Share shall be 14.27%. Such Additional Rent shall be in the nature of Rent for purpose of determining Landlord's rights in respect thereto. As soon as reasonably practicable after Landlord's receipt of real estate tax and assessment bills for the Property each Lease year throughout the Term, Landlord shal-I deliver to Tenant each year a reasonably detailed statement setting forth the real estate taxes and assessments due for the Base Tax Year, the real estate taxes and assessments due for the current year, and Tenant's Pro-Rata Share thereof. Tenant shall pay such monthamount upon receipt of such statement. Tenant shall also pay Landlord a yearly fee of $1.00 per square foot for the Operating Costs associated with the Property. Such amount shall be payable by Tenant in twelve (12) equal monthly installments and shall be paid at the same time the Base Rent is paid. For the purpose of this Lease, the term "Operating Costs" shall mean the following costs and expenses incurred by Landlord for the operation, management and maintenance of the Property: insurance premiums and the reasonable expenses incurred in maintaining and repairing all plumbing, heating, air conditioning and electrical equipment, and managing, equipping, lighting, repairing, cleaning and maintaining, and the Common Areas, specifically including but not limited to landscaping, gardening, parking lot maintenance, line painting, traffic control, sanitary control, removal of snow, ice, trash, rubbish, and other refuse, and the cost of all personnel necessary to implement such services plus 15% of all costs to cover administrative costs relative to the operation of the Common Areas, but not financing costs nor the costs of any major repairs to or replacement of the Building, fixtures (excluding Tenant's fixtures but including all plumbing, heating, air conditioning and electrical equipment) Common Areas and Structural Components thereof. Such financing costs and the costs of any major repairs or replacement shall be paid solely by Landlord. Section 3.03. All amounts received by Landlord from Tenant payments of Rent required to be made hereunder shall be applied first made payable to and sent to Landlord at the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant address set forth in this LeaseArticle 25 hereof. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Mim Corp)

Rent. A. Tenant covenants Lease section 4(B) is modified to provide that: For the period of time commencing on Expansion Area Commencement Date and ending on the Lease termination date, Lessee shall pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be Lessor (in addition to any and all other payments required Rent due under the Lease) an additional minimum guaranteed base rent for the Expansion Area in the sum of twenty-two thousand four hundred and 00/100 dollars ($22,400.00), such additional base rent payable in minimum monthly installments of one thousand six hundred and 00/100 dollars ($1,600. 00). Lease section 4(D) is modified to be paid to Landlord by Tenant under this Lease. Such payments provide that: The additional monthly base rent for the Expansion Area shall be paid concurrently with adjusted, if the payments date for possession of the Rent on which the tax is basedExpansion Area given pursuant to Lease section 1.(A)3. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences above occurs on a day other than the first day of a month or terminates on a day other than the last day of a monthJuly 1, then the installments of Base 2002. Said Monthly Rent (if any) and Additional Rent (if any) for such partial month or months shall be prorated, based on (regardless of the actual number of days in such month. All amounts received by Landlord from Tenant hereunder month actually has) shall be applied due and payable/credited at the rate of fifty-two and 45/100 dollars ($52.45) per day, for each day, after/until possession of Expansion Area is given to Lessee. The Rent due/credited for such partial month shall be calculated from the date of possession of Expansion Area until the first (1/st/) day of the month immediately following such date of possession, payable in advance, as specified above. Notwithstanding the foregoing, Lessor shall grant to Lessee a "rent holiday" from the earliest accrued payment of one thousand six hundred and unpaid 00/100 dollars ($1,600.00) of the installment of Monthly Rent then outstandingdue only for the first (1st) full month of possession of Expansion Area (such period being hereinafter referred to as the "Expansion Area Free Rent Period"). Tenant’s covenant to pay During such Expansion Area Free Rent Period, all installments of Monthly Rent shall be independent abated as stated above (such rental abatement being hereinafter referred to as the "Expansion Area Free Rent Allowance"); provided, however, that: i) the Expansion Area Free Rent Period and the granting of every other covenant set forth in this Lease. B. If Tenant fails the Expansion Area Free Rent Allowance as provided hereunder shall not affect the Expansion Area Commencement Date as determined herein; ii) Lessee shall remain obligated during the Expansion Area Free Rent Period to pay any installment of Base Rent and all Additional Rent or payable pursuant to this Lease and to perform all of Lessee's obligations under this Lease except as expressly aforesaid; and iii) in the event of any other item termination of this Lease by Lessor based upon a default hereunder by Lessee, the entire amount of Monthly Rent within ten (10) days after the same becomes which would have otherwise been due and payable hereunder, a “Late Charge” equal to five percent (5%) hereunder during the Expansion Area Free Rent Period in the absence of such unpaid amount will be the Expansion Area Free Rent Allowance shall immediately become due and payable with the next installment of Base Rent by Tenant to Landlordpayable.

Appears in 1 contract

Sources: Lease Agreement (Inphonic Inc)

Rent. A. Tenant During the initial term of this Lease, Lessee hereby covenants and agrees to pay to Landlord during Lessor as Base Rent for the Premises the sum of $138,600.00 per Lease Termyear payable in equal monthly installments of $11,550.00, plus applicable sales or use tax, which Base Rent shall be due in advance on the first of each month, without any setoff demand, at the offices of Lessor in the city of Lake Mary, Florida, or deduction except at such other place and to such other person as otherwise expressly provided hereinLessor may from time to time designate in writing. Base Rent is adjustable as set forth hereafter and in Paragraph 6 of this Lease. In the event of a renewal of this Lease pursuant to Paragraph 3 above, the full amount base yearly rent shall be adjusted by any change in the index known as the "United States Bureau of Labor Statistics, Consumer Price Index for all Urban Consumers (all items), United States City Average (1982 equals 100)" (hereinafter referred to as the "Index"). The Base Rent and Additional adjustment for changes in the Index shall be accomplished by multiply the Base Rent due hereunder and last prevailing under this Lease by a fraction, the full numerator of which shall be the Index for the second month preceding the last month of the then current Lease Year. The denominator of the fraction shall be the Index for the last month prior to the last rental adjustment. There shall be no adjustment in rent if the foregoing calculation results in a lower rental payment, it being the intent that rent will adjust upward, but not downward. After making the foregoing calculation, if Base Rent is to be adjusted, the adjusted rental amount of all such other sums of money as shall become due under this Leasewith the first payment of Base Rent due on the first month of the new term, all and shall apply for the remainder of which hereinafter may be collectively called “Rent.” In addition, Tenant shall paythat term. If the Consumer Price Index, as Additional Rentnow constituted, compiled and published, shall cease to be compiled and published during the term hereof, and all extensions thereof, then the parties shall utilize a comparable index. All rent, sales additional rent and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required sums due to be paid to Landlord by Tenant under this LeaseLease are in United States Dollars. Such payments shall All sums due to be paid concurrently with by the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year Lessee to Lessor under this Lease are deemed to be "rent", whether or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for not such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth sums are called "rent" in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Business Lease (Faro Technologies Inc)

Rent. A. a. During each year of the Term, the Tenant covenants agrees to pay to Landlord during the Lease TermLandlord, without any setoff demand or deduction except as otherwise expressly provided hereinset off, in lawful money of the full amount of all Base Rent and Additional Rent due hereunder and United States, at the full amount of all such other sums of money as shall become due under address specified in this Lease, all or at such other location as the Landlord may hereafter designate in writing, Base Rent for the Premises in the amount of which hereinafter may be collectively called “RentOne Dollar ($1.00) per annum.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments b. The annual Base Rent shall be paid concurrently with the payments in full in advance. The first payment of the Rent on which the tax is based. Base Rent shall be due and Additional payable on or before the Commencement Date. Each subsequent annual payment of Base Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on each anniversary date of the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Commencement Date. c. The Base Rent (if any) and ), the Additional Rent (if any) for such month or months as defined below), and all other sums payable under the Lease shall be proratedpaid without notice, based on demand, counterclaim, set off, deduction, or defense and without abatement, suspension, diminution, or reduction, and the number obligations and liabilities of days the Tenant under the Lease shall in such month. All amounts received no way be released, discharged, or otherwise affected by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent reason of every other covenant set forth any occurrence whatsoever, except as otherwise expressly provided in this Lease. B. If d. During the Term of this Lease, the Tenant fails shall also pay as additional rent ("Additional Rent") all sums, Impositions (as defined in the Section below), costs, expenses, and other payments that the Tenant is required to pay pay, either to the Landlord or to others, under the terms of this Lease. In the event of any installment non-payment of Additional Rent, the Landlord shall have all rights and remedies provided for in this Lease for the non-payment of Base Rent. The Base Rent and the Additional Rent or any other item of Rent within ten (10) days after shall sometimes be referred to together in this Lease as the same becomes due and payable hereunder, a Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordRent”.

Appears in 1 contract

Sources: Ground Lease

Rent. A. Tenant covenants to shall pay to Landlord during the Lease Termrent consisting of (i) Base Rent, without any setoff or deduction except as otherwise expressly provided herein, the full amount of and (ii) all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall that become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord payable by Tenant under this Lease. Such payments shall be paid concurrently with , whether to Landlord directly, or to a third party for the payments benefit of Landlord and the Rent on which the tax is basedPremises (“Additional Rent”). Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, are referred to herein as “Rent.” All Rent shall be due and payable paid in advance in monthly installments on the first day of each calendar month during unless otherwise provided herein. Notwithstanding any other provision hereof, Tenant shall pay to Landlord, with all Rent, any rent, transaction, privilege or other tax now or hereafter imposed on any Rent due or paid under this Lease. All Rent shall be paid in lawful money of the United States to Landlord, c/o the Property Manager at the address set forth in the Basic Lease TermTerms preceding this Lease, or at such other place as Landlord shall designate by written notice to Tenant. Tenant shall pay all Rent promptly when due without demandnotice or demand therefor and without any abatement, deduction or off set, for any reason whatsoever, except as may be expressly provided in this Lease. If the Lease Term commences Tenant’s obligation to pay Base Rent does not commence on a day other than the first day of a month calendar month, or terminates does not expire on a day other than the last day of a the calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month payable by Tenant on the first fractional month, or months the last fractional month, as the case may be, shall be proratedprorated for said month. Base Rent for the first full calendar month of the Term for which Base Rent is payable shall be paid upon execution of this Lease, based and Base Rent for any partial month at the beginning of the Term shall be due on the number Commencement Date. Tenant acknowledges that Tenant’s late payment of days in Rent due Landlord will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such monthcost being extremely difficult and impractical to ascertain. All amounts received by Therefore, if Landlord does not receive any Rent due from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunderof when due, a “Late Charge” Tenant shall pay to Landlord an additional sum equal to five percent (5%) of such unpaid amount will the overdue amount, which late charge shall be due and payable with on demand. The payment of late charges and the next installment payment of Base interest are distinct and separate from one another in that the payment of interest is to compensate Landlord for the use of Landlord’s money by Tenant, while the payment of late charges is to compensate Landlord for the additional administrative expenses incurred by Landlord in handling and processing delinquent payments. By their execution of this Lease, Landlord and Tenant confirm that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment, that the late charge is in addition to any and all remedies available to Landlord and that the assessment and/or collection of the late charge shall not be deemed a waiver by Landlord of such failure or of any other default under this Lease. Additionally, all such delinquent Rent, plus any late charge, shall bear interest at the rate of six percent (6%) per annum, or, if lower, the maximum interest rate permitted by law (as applicable, the “Default Rate”), from the date due until paid. If any payment of Rent by is returned for insufficient funds, Landlord may require Tenant to Landlordpay all future payments by cashier’s check.

Appears in 1 contract

Sources: Lease Agreement (Ampio Pharmaceuticals, Inc.)

Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease TermLandlord, promptly when due, without notice or demand or deduction, abatement or set off of any setoff or deduction except amount for any reason whatsoever, as otherwise expressly provided hereinrent hereunder ("Rent"), the full amount of all Base Basic Rent and Additional all Percentage Rent due hereunder and the full amount of all such other sums of money (as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments defined below). All Rent to be paid by Tenant to Landlord shall be in addition to all other payments required to lawful currency of the United States of America and shall be paid to Landlord at the address or into the account as may be designated from time to time by Tenant under this Lease. Such payments Landlord ("Landlord's Address"). A. Basic rent for the Premises ("Basic Rent") shall be paid concurrently with the payments in monthly installments, each of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance on the first business day of the calendar month in the amount specified in Exhibit A hereto. Basic Rent for the partial month following the Effective Date shall be paid on or before the first business day of January 2016. B. In addition to the Basic Rent, Tenant shall also pay during the Term, without notice, demand, abatement, reduction or set off, additional percentage rent ("Percentage Rent") in accordance with the formulae for Percentage Rent set forth in Exhibit B hereto. Percentage Rent for each calendar month during the Term shall be payable in monthly installments on the first 20th day of the following calendar month. Within 20 days after the end of each calendar month during in the Lease Term, without demand. If Tenant shall deliver to Landlord a statement executed by Tenant accurately setting forth the Lease Term commences on a day other than the first day amount of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) Gross Receipts for such month or months shall be prorated, based on and Tenant's calculation of the number of days in Percentage Rent payable for such month, itemized in reasonable detail. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) Within 90 days after the same becomes end of each calendar year of the Term, Tenant shall furnish to Landlord a statement accurately showing Gross Receipts and Percentage Rents for such year itemized in reasonable detail, and shall contemporaneously therewith pay any Percentage Rent due and payable hereunderunpaid for such year, a “Late Charge” equal provided, however, that if Tenant has overpaid Percentage Rents during such year, Landlord shall, at its option, either refund such excess to five percent (5%) of such unpaid Tenant or credit the amount will be due and payable with thereof to the next installment succeeding monthly, installments of Base Percentage Rent payable by Tenant Tenant. With respect to Landlordthe last Lease Year of the Term, such annual reconciliation and adjustment, if any, shall be made within 30 days. The provisions of this Section 3.B shall survive the end of the Term. C. The term "Gross Receipts" with respect to any period shall:

Appears in 1 contract

Sources: Lease (KBS Strategic Opportunity REIT II, Inc.)

Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Base Rent (which shall be applied against the Rent payable for the first month Tenant is required to pay Base Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 of which hereinafter may be collectively called “Rent.” this Lease. Tenant agrees to pay Landlord, without prior notice or demand, or abatement, offset, deduction or claim, the Base Rent specified in the Basic Lease Information, payable in advance at Landlord's address specified in the Basic Lease Information on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease and Tenant agrees and acknowledges that Tenant shall commence paying Rent on the Commencement Date, regardless of whether or not the Tenant Improvements are completed as of the Commencement Date. In additionaddition to the Base Rent set forth in the Basic Lease Information, Tenant shall paypay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, sales the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to Tenant shall otherwise perform all other payments obligations of Tenant required to hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be paid to Landlord by Tenant under this Leasea prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. Such payments The prorated Rent shall be paid concurrently with on the payments of the Rent on which the tax is based. Base Rent Commencement Date and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each the calendar month during in which the Lease Termdate of termination occurs, without demand. If as the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasecase may be. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Phase Metrics Inc)

Rent. A. Beginning on the Rent Commencement Date and continuing thereafter throughout the Term, Tenant covenants will pay the Rent in monthly installments in advance, without demand, deduction or offset, in lawful money of the United States commencing on the Rent Commencement Date, and continuing on the first day of each and every month thereafter until the Termination Date. Rent payments for any fractional calendar month at the end, or the beginning of the term of the Lease, will be prorated. In the event Tenant fails to pay any installment of Rent hereunder within ten days of the due date of such installment, Tenant will pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full on demand a late charge in an amount equal to four percent (4%) of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, installment. The provision for such payments to late charge will be in addition to all of Landlord’s other payments required to rights and remedies hereunder or at law and will not be paid to Landlord by Tenant under this Leaseconstrued as liquidated damages or as limiting Landlord’s remedies in any manner. Such payments shall be paid concurrently Commencing with the payments second Lease Year hereunder, Base Annual Rent will increase on each anniversary of the Rent on which Commencement Date by the tax is basedBase Annual Rent Escalation over the Base Annual Rent paid the previous Lease Year. Base Rent Commencing January 1 of the year following the Commencement Date and Additional Rent continuing thereafter for each calendar year or portion thereof during the Lease Term, shall be due Landlord will present to Tenant Tenant’s Forecast Operating Expenses. Tenant will pay without deduction, offset, or counter claim, and payable otherwise in advance in monthly installments the same manner as Base Annual Rent on the first day of each calendar month during the Lease Term, without demandan amount equal to one twelfth (1/12) of Tenant’s Forecast Operating Expenses as Additional Rent. If From time to time during any calendar year, Landlord may revise Tenant’s Forecast Operating Expense and adjust Tenant’s monthly payments to reflect Landlord’s such revisions. Promptly after the full execution of this Lease Term commences on (and delivery to Tenant of a day other than copy thereof), Tenant shall pay Landlord the first day month’s Rent due hereunder. Notwithstanding the foregoing, and provided there is no default or event of a month or terminates on a day other than the last day of a monthdefault hereunder by Tenant, then the installments of Base Annual Rent (if anybut not Operating Expenses) and Additional Rent (if any) for such month or months shall be prorated, based on abated hereunder for the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten five (105) days months after the same becomes due and payable hereunder, a Commencement Date (the Late Charge” equal to five percent (5%) of such unpaid amount Rent Abatement”). Tenant will be due responsible for its Proportionate Share of the Operating Expenses for the Building as well as its utilities and payable with the next installment of Base Rent by Tenant to Landlordjanitorial services.

Appears in 1 contract

Sources: Lease Agreement (Precision Biosciences Inc)

Rent. A. Tenant covenants to shall pay to Landlord during Landlord, throughout the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinthe Base Rental, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in equal monthly installments on the first day of each calendar month month, without demand, notice or offset. In addition, during each calendar year, or portion thereof, falling within the Lease Term, Tenant shall pay to Landlord as Additional Base Rental hereunder Tenant's Pro Rata Share of Basic Costs (as defined below) for the applicable calendar year. Prior to the Commencement Date and prior to January 1 of each calendar year during the Lease Term, without demandor as soon thereafter as practical, Landlord shall make a good faith estimate of Basic Costs for the applicable calendar year and Tenant's Pro Rata Share thereof. If the Lease Term commences on a day other than On or before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Additional Base Rental, a month or terminates on a day other monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of Basic Costs. Landlord shall have the right from time to time during any such calendar year, if it reasonably believes the costs will vary by more than five percent (5%), to revise the last day estimate of a month, then the installments of Base Rent (if any) and Additional Rent (if any) Basic Costs for such year and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month or months shall be proratedbased upon such revised estimate. If Landlord does not provide Tenant with an estimate of the Basic Costs by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the number previous year's estimate until such time as Landlord provides Tenant with an estimate of days in Basic Costs for the current year. Upon receipt of such month. All amounts received by Landlord from Tenant hereunder current year's estimate, an adjustment shall be applied first made for any month during the current year with respect to which Tenant paid monthly installments of Additional Base Rental based on the earliest accrued and unpaid Rent then outstandingprevious year's estimate. Tenant’s covenant Tenant shall pay to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay Landlord for any installment of Base Rent and Additional Rent or any other item of Rent underpayment within ten (10) days after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant or credited against the same becomes next due and payable installment or installments of Base Rental due for the months immediately following the furnishing of such estimate. Any amounts paid by Tenant based on any estimate shall be subject to adjustment pursuant to tile immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Costs for the previous calendar year. If the amount of estimated Basic Costs actually paid by Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of Basic Costs for such prior year, then Landlord shall apply such overpayment against Base Rental next due or to become due hereunder, a “Late Charge” equal provided if the Lease Term expires prior to five percent (5%) the determination of such unpaid overpayment, Landlord shall within ten (10) days following such termination, refund such overpayment to Tenant after first deducting the amount will be of any Rent due and payable with the next installment of Base Rent by hereunder. Likewise, Tenant shall pay to Landlord., within ten (10) days after demand, any underpayment with respect to the prior year,

Appears in 1 contract

Sources: Lease Agreement (Bsquare Corp /Wa)

Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of which hereinafter may be collectively called “this Lease. Tenant agrees to pay Landlord the Base Rent.” , without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord’s Address commencing June 1, 2003 and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In additionaddition to the Base Rent, Tenant shall pay. Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant’s Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term “Rent” whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, sales and use taxes the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or other similar taxes, if any, levied expiration or imposed by termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments prorated Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent June 1, 2003, and Additional any prorated Rent for each the final calendar year or portion thereof during the Lease Term, month hereof shall be due and payable in advance in monthly installments paid on the first day of each the calendar month during in which the Lease Term, without demand. If the Lease Term commences on a day other than the first day date of a month expiration or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasetermination occurs. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Alphasmart Inc)

Rent. A. 4.01 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder for the Term (collectively referred to as “Rent”). “Additional Rent” means Tax and the full amount Expenses and payments by Tenant of all such other sums of money as shall become due any non-separately metered utilities that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. Base Rent and recurring monthly charges of Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during without notice or demand, provided that the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent for Lease Month 7 of the Term, and the first monthly installment of Additional Rent or any for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other item items of Rent within ten shall be due and payable by Tenant on or before thirty (1030) days after billing by Landlord. Rent shall be made payable to the same becomes due entity, and payable hereundersent to the address, a “Late Charge” Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to five percent (5%) of such unpaid all past due Rent, provided that Tenant shall be entitled to a grace period of ten (10) days for the first (1st) late payment of Rent in a calendar year. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum from the due date until actually paid. Landlord’s acceptance of less than the correct amount will of Rent shall be due considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and payable satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease. Tenant shall pay Tenant’s Pro Rata Share of Taxes and Tenant's Pro Rata Share of Expenses in accordance with the next installment Exhibit B of Base Rent by Tenant to Landlordthis Lease.

Appears in 1 contract

Sources: Lease Agreement (Cogentix Medical Inc /De/)

Rent. A. On the date that Tenant covenants executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates required to be delivered under Sections 10 and 12 of this Lease. Tenant agrees to pay Landlord during without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord’s Address for Rent, on the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, Commencement Date and thereafter on the full amount first (1st) day of all each month throughout the Term (i) Base Rent and (ii) as Additional Rent due hereunder (as defined below), Tenant’s Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called Utility Expenses. The term “Rent.In additionmeans, Tenant shall paycollectively, as Additional Base Rent, all rent, sales Additional Rent and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid amounts due to Landlord by Tenant under pursuant to this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during If any rental payment date (including the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences Commencement Date) falls on a day of the month other than the first day of a such month or terminates on if any rental payment is for a day other period which is shorter than the last day of a one (1) month, then the installments of Base Rent (if any) and Additional Rent (if any) rental for any such fractional month or months shall be prorated, a proportionate amount of a full calendar month’s rental based on the proportion that the number of days in such monthfractional month bears to the number of days in the calendar month during which the fractional month occurs. All amounts received by Landlord from Tenant hereunder other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be applied prorated in the same manner. Any prorated Rent for the first to (1st) calendar month of the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent Term shall be independent paid on the Lease Commencement Date, and any prorated Rent for the final calendar month of every other covenant set forth the Term shall be paid on the first day of the calendar month in this Leasewhich the date of expiration or termination occurs. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Ambarella Inc)

Rent. A. (a) Tenant covenants shall pay to pay Landlord in lawful money of the United States of America which shall be legal tender for the payment of public and private debts, without offset or deduction, the amounts set forth hereinafter as Minimum Rent (or Allocated Minimum Rent) and any additional rent payable to Landlord during the Lease TermTerm at Landlord’s offices located at its address for notices set forth in Section 38 below, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all at such other sums place as Landlord may advise in writing. Payments of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments Minimum Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable made in advance in equal monthly installments on the first (1st) day of each calendar month during from and after the Lease TermEffective Date. (b) Tenant shall pay to Landlord as monthly “Allocated Minimum Rent” for each Facility the amounts allocated to and set forth opposite such Facility on Exhibit A attached hereto and incorporated herein by this reference, without demand. If the Lease Term commences in advance on a day other than or before the first (1st) day of a month or terminates on a day other than the last day of a each calendar month, then as the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall same may be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant increased as set forth in Exhibit E attached hereto and incorporated herein by this Leasereference. The first monthly payment of Allocated Minimum Rent with respect to each Facility shall be payable on the Effective Date of this Lease with respect to such Facility (prorated as to any partial calendar month at the beginning of the Term for such Facility). B. (c) If Landlord does not receive from Tenant fails to pay any installment payment of Base Rent and Additional Rent or any other item of Minimum Rent within ten (10) days after the same becomes due such payment is due, Landlord, at its option may charge Tenant a late charge and payable hereunder, a “Late Charge” handling fee equal to five percent Five Percent (5%) of such unpaid amount will Minimum Rent. Such fee shall be considered additional rent and shall be due and payable with the next installment of Base Rent by Tenant to Landlord immediately upon delivery of written notice to Tenant. In addition, if any check of Tenant is returned to Landlord unpaid, Tenant shall reimburse Landlord for all charges associated with such returned check and Landlord, at its option, may thereafter require that Tenant pay the Minimum Rent and any other charges payable hereunder by a certified or cashier’s check. (d) All additional sums payable by Tenant to Landlord under the provisions of this Lease shall constitute additional rent. (1) Except as otherwise expressly provided in this Lease, this Lease is a “net lease” pursuant to which the parties intend to yield “net” to Landlord the rental provided for in Section 6(b) above. (2) To further ensure that the Minimum Rent to Landlord is absolutely “net” to Landlord, Tenant further agrees to timely pay during the Term of this Lease, all costs and expenses, including but not limited to the following: (A) All occupational licenses and other permits necessary in the operation of the business to be conducted on the Demised Premises; (B) All utility charges for water, sewer, electricity, gas, telephone or any other services provided to or consumed on the Demised Premises; provided, however, it is expressly understood that utility impact fees and tap or connection fees shall be the expense of Landlord. (C) All sales and use taxes due as a result of the business conducted on the Demised Premises and any real and personal property taxes assessed against any property located on or used in connection with the Demised Premises; (D) All real property taxes and assessments levied on the Demised Premises as provided in Section 11; and (E) All premiums for all insurance required by this Lease as provided in Section 13, and Tenant agrees to hold Landlord harmless from any such cost or expense related thereto.

Appears in 1 contract

Sources: Master Lease (Tandem Health Care, Inc.)

Rent. A. 4.01 Commencing on the Office Space Commencement Date with respect to the Office Space and the Lab Space Commencement Date with respect to the Lab Space, Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Office Base Rent and Additional Rent due hereunder with respect to the Office Space and all Lab Base Rent and Additional Rent due with respect to the full amount Lab Space for the Term (collectively referred to as "RENT"). "ADDITIONAL RENT" means all sums (exclusive of all such other sums of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. Base Rent and recurring monthly charges of Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month without notice or demand, provided that (i) the installment of Office Base Rent for the first full calendar month of the Term with respect to the Office Space (i.e., September, 2006) and the first monthly installment of Additional Rent for Office Expenses and Office Taxes with respect to the Office Space shall be payable on or before the Office Space Commencement Date, and (ii) the installment of Lab Base Rent for the first full calendar month of the Term with respect to the Lab Space (i.e., December, 2006) and the first monthly installment of Additional Rent for Lab Expenses (as defined in EXHIBIT B) and Lab Taxes (as defined in EXHIBIT B) with respect to the Lab Space shall be payable on or before the Lab Space Commencement Date. All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 Business Days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum. Landlord's acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based . No endorsement or statement on the number of days in such month. All amounts received by Landlord from Tenant hereunder a check or letter accompanying payment shall be applied first to the earliest accrued considered an accord and unpaid Rent then outstandingsatisfaction. Tenant’s 's covenant to pay Rent shall be is independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Office and Laboratory Lease Agreement (Combinatorx, Inc)

Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due (a) The rent reserved under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments Lease for the Term hereof shall be paid concurrently with and consist of: (i) the payments of the Fixed Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in equal monthly installments in advance on the first day of each and every calendar month during the Lease TermTerm (except that Tenant shall pay to Landlord one (1) monthly installment of Fixed Rent on the execution of this Lease, which installment shall be applied to the Monthly Fixed Rent due and payable under this Lease); plus (ii) such additional rent (“Additional Rent”) in an amount equal to Tenant’s Proportionate Share of increases in Operating Expenses and Real Estate Taxes (as such terms are defined in Paragraph 3 of this Lease) over the Initial Year Operating Expenses and Initial Year Real Estate Taxes (as such terms are defined in Paragraph 3 of this Lease), as the case may be, as described in Paragraph 3 of this Lease, all charges for services and utilities pursuant to Paragraph 15 hereof, and any other charges or amounts that shall become due and payable hereunder, including, without demandlimitation, the reasonable expenses incurred by Landlord in the enforcement against Tenant or any party taking by or through Tenant of any of the agreements, covenants, and obligations under this Lease and including reasonable legal fees and/or post-judgment collection fees that may accrue in the event suit against Tenant or any party taking by or through Tenant for rent or dispossess proceedings are necessary to obtain the possession of the Demised Premises or to collect the rent, all of which Additional Rent shall be payable as hereinafter provided. All rent shall be paid to Landlord at its office stated above or such other place Landlord may designate in writing. If the Lease Term commences Commencement Date shall occur on a day date other than the first day of a month calendar month, or terminates the Expiration Date or other termination date of this Lease shall occur on a day other than the last day of a calendar month, then the installments rent for the partial month commencing on the Commencement Date or ending on the Expiration Date shall be appropriately pro-rated on the basis of Base the pro rata portion of the calendar month during which such payment is to be made. (b) Tenant does hereby covenant and agree to pay promptly the Fixed Rent (if any) and Additional Rent (if any) for such month herein reserved as and when the same shall become due and payable, without demand therefor and without any set-off, recoupment, or months shall deduction whatsoever, except as may be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant otherwise expressly set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and . All Additional Rent or any other item of Rent within ten (10) days after the same becomes payable hereunder that is not due and payable hereunderon a monthly basis during the Term, a “Late Charge” equal to five percent (5%) of such unpaid amount will unless otherwise specified herein, shall be due and payable within twenty (20) days of delivery by Landlord to Tenant of notice to pay the same together with reasonable supporting backup documentation therefor. (c) In the next installment event any payment of Base Fixed Rent or Additional Rent shall be paid after the due date for the same as provided herein, Tenant shall pay, together with such payment, the Late Charge. (d) Provided that Tenant is not then, or at any other time, in default of this Lease beyond the expiration of any grace or cure period expressly provided for in this Lease and this Lease be and remains in full force and effect, Tenant shall be entitled to a one-time credit against the Monthly Fixed Rent payments (but not any Additional Rent, electricity charges or any other charges or payments due hereunder, which such Additional Rent, electricity charges and other charges and payments shall be due and payable commencing on the Commencement Date) payable by Tenant under this Lease during the following Lease Months only and in the following amounts only: 1 $ 11,285.17 2 $ 11,285.17 3 $ 11,285.17 4 $ 11,285.17 (collectively, the “Rent Abatement”). In the event that on the date any such Rent Abatement is to be applied Tenant is in default of this Lease beyond the expiration of any grace or cure period expressly provided for in this Lease such that this Lease has been terminated or Tenant’s right to possession of the Demised Premises has been terminated, then the Rent Abatement theretofore applied against Fixed Rent or thereafter to be applied against Fixed Rent shall be entirely forfeited, and the equivalent amount of any such Rent Abatement theretofore applied to the Fixed Rent shall be immediately remitted by Tenant to LandlordLandlord as Additional Rent. The “Rent Commencement Date” is the Commencement Date. Except as may be expressly described hereinabove or anywhere else in this Lease, there shall be no abatements of Fixed Rent during the Term. If the Commencement Date is not the first day of a month, the Fixed Rent for the fractional portion of the month preceding the first (1st) full calendar month of the Term shall be calculated on a pro-rata basis, based on the Fixed Rent payable during the first (1st) month of the Term, beginning with and including the Commencement Date through the last day of that month, using the actual number of days in that month and Fixed Rent for said fractional period shall be payable on or before the first day of the first (1st) full calendar month of the Term (and anything stated herein to the contrary notwithstanding, Fixed Rent for said fractional period shall not be abated hereunder).

Appears in 1 contract

Sources: Lease Agreement (Cellectar Biosciences, Inc.)

Rent. A. Tenant covenants to shall pay to Landlord during in lawful United States currency the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, Period shall be due and payable in advance in equal monthly installments installments, due on the first day of each calendar month, in advance, in legal tender of the United States of America, without abatement, demand, deduction or offset whatsoever. One full monthly installment of Base Rent shall be due and payable on the Effective Date and shall be applied to the first month's Base Rent, and a like monthly installment of Base Rent shall be due and payable on or before the first day of each calendar month following the first calendar month after the Commencement Date during the Lease TermTerm hereof (provided, without demand. If that if the Lease Term commences on Commencement Date should be a day date other than the first day of a month or terminates on a day other than the last day of a calendar month, then the installments of monthly Base Rent (if any) and Additional Rent (if any) for such month or months installment paid on the date of execution of this Lease by Tenant shall be proratedprorated to the first calendar month, based on and the number of days in such month. All amounts received by Landlord from Tenant hereunder excess shall be applied first as a credit against the next monthly Base Rent installment). Unless otherwise expressly provided, all monetary obligations of Tenant to the earliest accrued and unpaid Rent then outstandingLandlord under this Lease, of any type or nature, other than Base Rent, shall be denominated as Additional Rent. Tenant’s covenant to pay Except as otherwise provided, all Additional Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent due and Additional Rent or any other item of Rent payable within ten (10) days after from Tenant’s receipt of an invoice from Landlord setting forth such costs. Tenant shall pay monthly to Landlord any sales, use, or other tax (excluding state and federal income tax) now or hereafter imposed on any Rent due under this Lease so long as such taxes are itemized in invoices presented by Landlord to Tenant. All Rent shall be paid to Landlord without demand, setoff, or deduction whatsoever, except as specifically provided in this Lease, at Landlord’ address as set forth in Section 28.1 of this Lease, or at such other place as Landlord shall designate in writing to Tenant. Tenant’s obligations to pay Rent are covenants independent of the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord’s obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Net Element International, Inc.)

Rent. A. Tenant covenants to pay to Landlord during The Rent due for the entire Lease Term, without Term is $ . Rent shall also include any setoff other charges identified in this Lease as “Rent” or deduction except as otherwise expressly provided herein, the full amount of all Base “Additional Rent”. Rent and Additional Rent is payable in one of the following payment options: If Rent is not paid in accordance with the terms set forth above, Landlord will commence with the removal of the Tenant. Rent is due hereunder on the specified dates in the amounts shown above. Any Rent received more than five (5) days after the due date shown above (the 1st of every month for the monthly option) is subject to a Fifty Dollar ($50.00) late fee which shall be due as Additional Rent. Tenant’s right of possession and all of Landlord’s obligations are expressly contingent on prompt payment of Rent and use of the full amount of all such other sums of money as shall become Premises by Tenant is granted only on the condition that Rent is paid on time. If Tenant fails to pay Rent or Additional Rent due under this Lease, all Landlord will give Tenant a fourteen (14) day notice to pay or vacate Premises (excluding weekends and holidays). Should Tenant fail to pay in full, Landlord will refer the matter to an attorney to proceed with eviction. Landlord will not accept partial payment of which hereinafter may be collectively called “Rent or Additional Rent.” In addition. Should Tenant elect to vacate the Apartment, Tenant shall paycontinues to remain liable for all Rent and charges due through the balance of the Lease Term. Tenant is responsible to pay all court costs and attorney’s fees in an eviction suit, as Additional Rent, all rent, sales or for any other legal action commenced by Landlord for the enforcement of the terms and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under conditions of this Lease. Such payments shall Owed rent will be paid concurrently with the payments of the Rent on which the tax is basedsent to Collections and a 30% Collections Fee will be assessed. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder Payments shall be applied first to any unsatisfied charges, late fees, repairs, or other fees owed by Tenant, and then to Additional Rent that is owed, then to Rent. Rent payments will be applied to the earliest accrued date owing. This Lease does not automatically renew upon expiration of the Lease Term designated. In order for Current Tenants to remain in their current room, they must contact the Management office and unpaid Rent then outstandingsubmit a Lease renewal form. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this LeaseApartments are filled on a first come basis. Current Tenants must reserve early or risk losing their current room assignment. Landlord may accept or deny any such renewal request at its sole discretion. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement

Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord as Additional Base Rental hereunder the sum of (1) Tenant's Pro Rata Share of the amount, if any, by which Taxes (hereinafter defined) for the applicable calendar year exceed the Tax Base Amount plus (2) Tenant's Pro Rata Share of the amount, if any, by which Expenses for the applicable calendar year exceed the Expense Base Amount. Tenant's Pro Rata Share of increases in Taxes and Tenant's Pro Rata Share of increases in Expenses shall be computed separate and independent of each other prior to being added together to determine the "Excess". In the event that Taxes and/or Expenses, as the case may be, in any calendar year decrease below the amount of the Tax Base Amount or the Expense Base Amount, as applicable, Tenant's Pro Rata Share of Taxes and/or Tenant's Pro Rata Share of Expenses, as the case may be, for such calendar year shall be deemed to be $0, it being understood that Tenant shall not be entitled to any credit or offset if Taxes decrease below the Tax Base Amount or if Expenses decrease below the Expense Base Amount. Prior to January 1 of the calendar year immediately following the Base Year, and prior to January 1 of each subsequent calendar year during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinsoon thereafter as practical, Landlord shall make a good faith estimate of the full amount Excess for the applicable calendar year and Tenant's Pro Rata Share thereof. On or before the first day of all Base Rent and Additional Rent due hereunder and the full amount of all each month during such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additioncalendar year, Tenant shall paypay to Landlord, as Additional RentBase Rental, all renta monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of the Excess. Landlord shall have the right from time to time during any such calendar year to revise the estimate of Basic Costs and the Excess for such year and provide Tenant with a revised statement therefor, sales and use taxes thereafter the amount Tenant shall pay each month shall be based upon such revised estimate. If Landlord does not provide Tenant with an estimate of the Basic Costs and the Excess by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the previous year's estimate until such time as Landlord provides Tenant with an estimate of Basic Costs and the Excess for the current year. Upon receipt of such current year's estimate, an adjustment shall be made for any month during the current year with respect to which Tenant paid monthly installments of Additional Base Rental based on the previous year's estimate. Tenant shall pay Landlord for any underpayment within thirty (30) days after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant within thirty (30) days or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, credited against the next installments of Base Rental and Additional Base Rental due for the months immediately following the furnishing of such payments to be in addition to all other payments required to be estimate. Any amounts paid to Landlord by Tenant under this Lease. Such payments based on any estimate shall be paid concurrently with subject to adjustment pursuant to the payments immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Costs and the actual Excess for the previous calendar year. If, however, Landlord fails to furnish Tenant a statement of actual Basic Costs for a given calendar year within twelve (12) months after the end of said calendar year and such failure continues for an additional sixty (60) days after Landlord's receipt of a written request from Tenant that such statement of actual Basic Costs should be furnished (the "Request for Statement of Basic Costs"), and provided the Request for Statement of Basic Costs contains a statement that Landlord's failure to furnish such statement may prejudice Landlord's right to collect any underpayment of Basic Costs from Tenant as described in Section IV.A. of the Lease, then Landlord shall be due and payable deemed to have waived any rights to recover any underpayment of Basic Costs from Tenant applicable to said calendar year (except to the extent such underpayment is attributable to a default by Tenant in advance its obligation to make estimated payments of Basic Costs). Further, in monthly installments on no event shall the first day foregoing provision describing the time period during which Landlord is to deliver the statement of each calendar month during the Lease Termactual Basic Costs in any manner limit or otherwise prejudice Landlord's right to modify such statement of actual costs after such time period if new, without demandadditional or different information relating to such statement of actual costs is discovered or otherwise determined. If the estimated Excess actually paid by Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of the Excess for such prior year, then Landlord shall apply such overpayment against Base Rental and Additional Base Rental due or to become due hereunder, provided if the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first expires prior to the earliest accrued and unpaid determination of such overpayment, Landlord shall refund such overpayment to Tenant within thirty (30) days after first deducting the amount of any Rent then outstandingdue hereunder. Tenant’s covenant Likewise, Tenant shall pay to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent Landlord, within ten (10) days after demand, any underpayment with respect to the same becomes prior year, whether or not the Lease has terminated prior to receipt by Tenant of a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease. B. Basic Costs shall mean Taxes and all costs and expenses paid or incurred in each calendar year in connection with operating, maintaining, repairing, managing the Building and the Property, including, but not limited to, the following: 1. All labor costs for all persons performing services required or utilized in connection with the operation, repair, replacement and maintenance of and control of access to the Building and the Property, including but not limited to amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and other similar taxes, workers' compensation insurance, uniforms, training, disability benefits, pensions, hospitalization, retirement plans, group insurance or any other similar or like expenses or benefits. 2. All management fees (not to exceed, an a per annum basis, 5% of the gross receipts for the Building), the cost of equipping and maintaining a management office at the Building, accounting services, legal fees not attributable to leasing and collection activity, and all other administrative costs relating to the Building and the Property. If management services are not provided by a third party, Landlord shall be entitled to a management fee comparable to that due and payable hereunderto third parties provided Landlord or management companies owned by, or management divisions of, Landlord perform actual management services of a comparable nature and type as normally would be performed by third parties. 3. All rental and/or purchase costs of materials, supplies, tools and equipment used in the operation, repair, replacement (other than replacements deemed to be a capital improvement under generally accepted accounting principles, in which event Section IV.B.11 below shall control with respect to such item) and maintenance and the control of access to the Building and the Property. 4. All amounts charged to Landlord by contractors and/or suppliers for services, replacement parts, components, materials, equipment and supplies furnished in connection with the operation, repair, maintenance, replacement of and control of access to any part of the Building, or the Property generally, including the heating, air conditioning, ventilating, plumbing, electrical, elevator and other systems and equipment. 5. All premiums and deductibles paid by Landlord for fire and extended coverage insurance, earthquake and extended coverage insurance, liability and extended coverage insurance, rental loss insurance, elevator insurance, boiler insurance and other insurance customarily carried from time to time by landlords of comparable office buildings in the Buckhead area of Atlanta, Georgia or required to be carried by Landlord's Mortgagee. 6. Charges for water, gas, steam and sewer, but excluding those charges for which Landlord is otherwise reimbursed by tenants, and charges for Electrical Costs. For purposes hereof, the term "Electrical Costs" shall mean: (i) all charges paid by Landlord for electricity supplied to the Building, Property and Premises, regardless of whether such charges are characterized as distribution charges, transmission charges, generation charges, public good charges, disconnection charges, competitive transaction charges, stranded cost recoveries or otherwise; (ii) except to the extent otherwise included in Basic Costs, any costs incurred in connection with the energy management program for the Building, Property and Premises, including any costs incurred for the replacement of lights and ballasts and the purchase and installation of sensors and other equipment that saves energy; and (iii) if and to the extent permitted by law, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable reasonable fee for the services provided by Landlord in connection with the next installment selection of utility companies and the negotiation and administration of contracts for the generation of electricity. Notwithstanding the foregoing, Electrical Costs shall be adjusted as follows: (a) any amounts received by Landlord as reimbursement for above standard electrical consumption shall be deducted from Electrical Costs, (b) the cost of electricity incurred in providing overtime HVAC to specific tenants shall be deducted from Electrical Costs, it being agreed that the electrical component of overtime HVAC Costs shall be calculated as a reasonable percentage of the total HVAC costs charged to such tenants, and (c) if Tenant is billed directly for the cost of electricity to the Premises as a separate charge in addition to Base Rent by Tenant Rental and Basic Costs, the cost of electricity to Landlordindividual tenant spaces in the Building shall be deducted from Electrical Costs.

Appears in 1 contract

Sources: Office Lease (Viewlocity Inc)

Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord as Additional Base Rental hereunder the sum of (1) Tenant's Pro Rata Share of the amount, if any, by which Taxes (hereinafter defined) for the applicable calendar year exceed Taxes for the Base Year plus (2) Tenant's Pro Rata Share of the amount, if any, by which Expenses (hereinafter defined) for the applicable calendar year exceed Expenses for the Base Year. For purposes hereof, "Expenses" shall mean all Basic Costs with the exception of Taxes. Tenant's Pro Rata Share of increases in Taxes and Tenant's Pro Rata Share of increases in Expenses shall be computed separate and independent of each other prior to being added together to determine the "Excess". In the event that Taxes and/or Expenses, as the case may be, in any calendar year decrease below the amount of Taxes or Expenses for the Base Year, Tenant's Pro Rata Share of Taxes and/or Expenses, as the case may be, for such calendar year shall be deemed to be $0, it being understood that Tenant shall not be entitled to any credit or offset if Taxes and/or Expenses decrease below the corresponding amount for the Base Year. Prior to the Commencement Date and prior to January 1 of each calendar year during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinsoon thereafter as practical, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as Landlord shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments make a good faith estimate of the Rent on which Excess for the tax is based. Base Rent and Additional Rent for each applicable calendar year and Tenant's Pro Rata Share thereof. On or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Additional Base Rental, a monthly installment equal to one-twelfth of Tenant's Pro Rata Share of Landlord's estimate of the Excess. Landlord shall have the right from time to time during any such calendar year to revise the estimate of Basic Costs and the Excess for such year and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be based upon such revised estimate. If Landlord does not provide Tenant with an estimate of the Basic Costs and the Excess by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the previous year's estimate until such time as Landlord provides Tenant with an estimate of Basic Costs and the Excess for the current year. Upon receipt of such current year's estimate, an adjustment shall be made for any month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the current year with respect to which Tenant paid monthly installments of Additional Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, Rental based on the number of days in such monthprevious year's estimate. All amounts received by Tenant shall pay Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay for any installment of Base Rent and Additional Rent or any other item of Rent underpayment within ten (10) days after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant or credited against the same becomes installment of Additional Base Rental due for the months immediately following the furnishing of such estimate. Any amounts paid by Tenant based on any estimate shall be subject to adjustment pursuant to the immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Costs and payable the actual Excess for the previous calendar year. If the estimated Excess actually paid by Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of the Excess for such prior year, then Landlord shall apply such overpayment against Additional Base Rental due or to become due hereunder, a “Late Charge” equal provided if the Lease Term expires prior to five percent (5%) the determination of such unpaid overpayment, Landlord shall refund such overpayment to Tenant after first deducting the amount will be of any Rent due and payable hereunder. Likewise, Tenant shall pay to Landlord, within ten (10) days after demand, any underpayment with respect to the next installment of Base Rent prior year, whether or not the Lease has terminated prior to receipt by Tenant to Landlordof a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease.

Appears in 1 contract

Sources: Office Lease (United States Exploration Inc)

Rent. A. 4.1 Tenant covenants hereby agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinBase Rent in accordance with the terms of this Lease. For purposes of Rent adjustment under the Lease, the full amount number of months is measured from the first day of the calendar month in which the Commencement Date falls. Each monthly installment (the “Monthly Rent”) shall be payable by check or by money order on or before the first day of each calendar month. In addition to the Base Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under and payable by Tenant as set forth in this Lease, all of which shall constitute additional rent under this Lease (the “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or any other items of Rent that are not paid by Tenant. The Base Rent, the Monthly Rent and the Additional Rent are sometimes hereinafter may be collectively called “Rent” and shall be paid when due in lawful money of the United States without demand, deduction, abatement (except as otherwise expressly provided in this Lease), or offset to the addresses for the rental payment set forth in the Basic Lease Information, or as Landlord may designate from time to time. Notwithstanding anything to the contrary contained in this Lease, Tenant may pay Base Rent or any other Rent payments to Landlord required hereunder by Federal Reserve Automated Clearing House (ACH) deposit to an account as directed by Landlord by written notice to Tenant from time to time; provided that Landlord agrees to accept payment by Federal Reserve Automated Clearing House (ACH) deposit only so long as such system is available for Landlord’s use. 4.2 In additionthe event any Monthly or Additional Rent or other amount payable by Tenant hereunder is not paid within five (5) days after its due date, Tenant shall paypay to Landlord a late charge (the “Late Charge”), as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments an amount of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the amount of such unpaid amount will late payment. Notwithstanding the foregoing, before a late charge is charged to Tenant the first time in any twelve (12) month period, Landlord shall provide Tenant written notice of the delinquency, and shall waive such late charge if Tenant pays such delinquency within five (5) business days of Landlord’s delivery of such written notice. Failure to pay any Late Charge shall be due deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and payable remedies available to Landlord hereunder, at law or in equity, and shall not be construed as liquidated damages or limiting Landlord’s remedies in any manner. Failure to charge or collect such Late Charge in connection with any one (1) or more such late payments shall not constitute a waiver of Landlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments. 4.3 Simultaneously with the next execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of the first installment of Base Monthly Rent and Tenant’s Share of Operating Expenses and Taxes due hereunder and (ii) an amount equal to the Security Deposit Amount to be held by Landlord as security for Tenant’s faithful performance of all of the terms, covenants, conditions, and obligations required to be performed by Tenant hereunder (the “Security Deposit”). The Security Deposit shall be held by Landlord as security for the performance by Tenant of all of the covenants of this Lease to be performed by Tenant and Tenant shall not be entitled to interest thereon. The Security Deposit is not an advance rent deposit, an advance payment of any other kind, or a measure of Landlord.’s damages in any case of Tenant’s default. If Tenant fails to perform any of the covenants of this Lease to

Appears in 1 contract

Sources: Lease Agreement (Talis Biomedical Corp)

Rent. A. On the date that Tenant covenants executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the sum of $121,854.57, which amount equals the Base Rent, the estimated Operating Expenses and Early Occupancy Rent for the first month of the Term of the Lease (the "Advanced Rent") (which Advanced Rent shall be applied against the Rent payable for the first month Tenant is required to pay Base Rent), the Letter of Credit (defined below) and all insurance certificates evidencing the insurance required to Landlord during be obtained by Tenant under Section 13 of this Lease and under the Lease Termprovisions of Exhibit B hereto. Tenant agrees to pay Landlord, without any setoff prior notice or demand, or abatement, offset, deduction or claim (except as otherwise expressly provided hereinset forth in Section 28 hereof), the full amount of all Base Rent and Additional Rent due hereunder specified in the Basic Lease Information (including any Amortized Excess TI Costs) and the full amount Early Occupancy Rent (defined below), payable in advance at Landlord's address specified in the Basic Lease Information on the actual Commencement Date and thereafter on the first (1st) day of all such other sums each month throughout the balance of money as shall become due under the Term of this Lease, all of which hereinafter may be collectively called “Lease after first giving Tenant credit for the Advanced Rent.” . In additionaddition to the Base Rent set forth in the Basic Lease Information (including any Amortized Excess TI Costs) and the Early Occupancy Rent (defined below), Tenant shall paypay Landlord in advance on the actual Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, the Administrative Expenses, Operating Expenses and Tax Expenses, after first giving Tenant credit for the Advanced Rent. The term "Rent" whenever used herein refers to the aggregate of all rent, sales and use taxes these amounts. The Rent for any fractional part of a calendar month at the commencement or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to termination of the Lease term shall be in addition to all other payments required to be paid to Landlord by Tenant under a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent for the last calendar month of the Term of this Lease. Such payments Lease shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each the calendar month during in which the Lease Term, without demand. If the Lease Term commences on a day other than the first day date of a month termination or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leaseexpiration occurs. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Webvan Group Inc)

Rent. A. (a) Tenant covenants to shall pay to Landlord during each Lease Year the Lease TermBase Rent, without any setoff or deduction except as otherwise expressly provided herein, in equal monthly installments in the full amount of all one-twelfth of the Base Rent on the Commencement Date and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each succeeding calendar month during the Lease TermTerm of this Lease; provided that the rent payable on the Commencement Date ------------- shall be prorated for the remaining days left in the calendar month in which the Commencement Date occurs. All payments of Base Rent shall be paid in advance, without demandnotice, set-off or deduction, in lawful money of the United States, at the address of Landlord set forth in Section 40 of this Lease, or at such other place as Landlord may from time to time designate in writing. If The amount of the Base Rent for each Lease Term commences Year after the first Lease Year shall be increased to an amount determined by multiplying the amount of the Base Rent in effect for the preceding Lease Year by an adjustment factor which factor shall be calculated in the following manner. Such adjustment shall be calculated by first determining the All Items Consumer Price Index for All Urban Consumers, CPI-U, Denver (1967 equals 100), as determined by the United States Department of Labor, Bureau of Labor Statistics as of both the latest date preceding the date of commencement of the preceding lease year and as of the latest date possible in the lease year just preceding the commencement of the next following lease year. Upon receipt of the second of such index figures, the percentage of the increase, if any, of the second of such figures over the first, shall be calculated therefrom (such percentage increases are herein referred to as the "Index Percentage Change"). An annual rental increase (herein referred to as Escalation Rent) shall then be computed by multiplying the Index Percentage Change times the last preceding Base Rent Annual rate as adjusted and set forth in Section 4. Tenant shall pay one-twelfth (1/12) of the resulting Escalation Rent each month during the ensuing lease year at the same time Tenant pays the Base Rent. Such payments shall commence on a day other than the first day of a the month or terminates on a day other following Tenant's receipt of notice setting forth such increase, which notice shall be sent within sixty (60) days of the beginning of each new Lease Year. The first monthly rental payment which includes new Escalation Rent shall also include the Escalation Rent, if any, for each month in the then current lease year which elapsed prior to Tenant's receipt of Landlord's notice. If there is no increase in Index Percentage Change, there shall be no adjustment, but in no event shall the Base Rent and Escalation Rent payable be less than the last day of a month, then the installments of Base Rent (if any) and Additional Escalation Rent (if any) for such month or months shall be prorated, based on paid during the number of days in such monthpreceding lease year. All amounts received by Landlord from Tenant The Base Rent due hereunder shall be applied first apportioned for any fractional calendar months at the beginning and end of the Term of this Lease and any renewals and extensions thereof. (b) If the index specified in Section 4(a) above is discontinued in its current form, or if the basis on which it was calculated should be revised, an appropriate conversion of the revised index to a common base will be made upon conversion factors published by the Bureau of Labor Statistics or upon conversion factors otherwise made available. (c) In addition to the earliest accrued Base Rent and unpaid Rent then outstanding. Tenant’s covenant to the Escalation Rent, Tenant shall pay Rent shall be independent Landlord in monthly installments simultaneously with payments of every other covenant the Base Rent, one-twelfth (1/12th) the Base Operating Cost times the Premises Rentable Area and 100% of the Operating Cost adjustment determined as set forth in Section 6, and such other charges as are required by the terms of this Lease. B. If Tenant fails Lease to pay any installment be made by Tenant. Any such adjustment or change shall be deemed to be additional rent and shall be payable in the manner provided for the payment of Base Rent and Additional Rent or any other item shall be recoverable as Base Rent, and Landlord shall have all rights against Tenant for default in payment thereof as in the case of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment arrears of Base Rent by Tenant to LandlordRent.

Appears in 1 contract

Sources: Office Lease (Horizon Organic Holding Corp)

Rent. A. Prior to the commencement of each Renewal Term, Landlord shall have the option to obtain an independent valuation of the Site to determine the fair market value (the “Appraisal Option”). Landlord shall provide Tenant covenants written notice of its intent to exercise the Appraisal Option at least six months’ prior to the commencement of the following Renewal Term. In the event Landlord exercises the Appraisal Option, an appraisal of the Site shall be made by a professional independent real estate appraiser selected by Landlord. Landlord and Tenant will share equally in the cost of the appraisal. Landlord may, in its discretion, elect to make use of the appraised value as a monthly Rent amount, in lieu of the existing Fees-based Rent structure, effective upon the commencement of the following renewal term (“Rent Conversion Date”). Tenant shall have no further obligation to pay to Landlord during any portion of Fees under the Lease Term, without any setoff or deduction except the Agreement in the event Landlord elects to make use of the appraised value as otherwise expressly provided herein, a monthly Rent amount. In no event shall the full rent amount be more than fifteen percent (15%) of all Base the Fees-based Rent and Additional Rent due hereunder and amount paid for the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Leaseprevious year. Such payments shall be paid concurrently with Commencing on the payments first anniversary of the Rent on which the tax is based. Base Rent Conversion Date, and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day anniversary of that date each calendar month during year thereafter (the Lease Term“Adjustment Date”), without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months monthly rent shall be prorated, increase based on the number Consumer Price Index published by the Bureau of days in such month. All amounts received by Landlord from Tenant hereunder Labor and Statistics of the United States Department of Labor for all Urban Consumers, US City Average (“CPI-U”) indicator and shall be applied first determined by dividing the CPI-U indicator, published three (3) months prior to the earliest accrued Adjustment Date, by the CPI-U indicator published one (1) year and unpaid three (3) months prior to the Adjustment Date, and multiplying the resultant number by the amount of the most recent rent. In no event shall the increase in Rent then outstanding. Tenant’s covenant to pay Rent shall be independent calculated for any one (1) year period exceed 5% of every other covenant set forth in this Leasethe most recent Rent. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Ground Lease Agreement

Rent. A. Tenant covenants Notwithstanding anything to the contrary in the Lease (including any Prior Amendments), effective as of the Effective Date, the following shall apply: (a) For the period from the Effective Date through the expiration of the Lease Year expiring July 31, 2007, Lessee shall pay as monthly “Minimum Rent” for each Facility the amounts allocated to Landlord and set forth opposite such Facility on Exhibit B attached hereto and incorporated herein by this reference. Lessor and Lessee acknowledge that with respect to all Facilities (other than the Atlanta Facility, the Dallas Facility and the Greenfield Facility), the amounts allocated for monthly Minimum Rent and set forth on such Exhibit B represent an agreed upon restatement and reallocation of the Allocated Minimum Rent with respect to such Facilities which would have otherwise been applicable for the balance of the current Lease Year for such Facilities, but for this Amendment. To the extent that Lessee has paid monthly Minimum Rent for such Facilities (i.e., other than the Atlanta Facility, the Dallas Facility and the Greenfield Facility) in advance for the current month in which the Effective Date occurs, Lessor shall credit such advance monthly Minimum Rent payment against such restated and reallocated amounts for such Facilities for the month in which the Effective Date occurs. With respect to each of the Atlanta Facility, the Dallas Facility and the Greenfield Facility, the first installment of monthly Minimum Rent for such Facilities shall be paid on the Commencement Date therefor (prorated for any partial month in which the Effective Date occurs). (b) Commencing August 1, 2007, and upon the expiration of each Lease Year therafter during the applicable Fixed Term and upon the expiration of the first (1st) Lease Year of each Extended Term and continuing upon the expiration of each Lease Year thereafter of each such Extended Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount then current monthly Allocated Minimum Rent for each Facility for such Lease Year shall be adjusted in accordance with the provisions of all Base Rent and Additional Rent due hereunder and Section 3.1(c) of the full amount Original Lease. (c) The monthly “Minimum Rent” payable during the first (1st) Lease Year of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxeseach Extended Term, if any, levied or imposed by any cityfor each Facility shall be determined and payable in accordance with the provisions of Section 3.1(b) of the Original Lease. (d) Except as provided herein, state, county or other governmental body having authority, such payments to be in addition to all other payments required Minimum Rent shall continue to be paid to Landlord by Tenant under this as and when due and in the manner provided in Section 3.1 of the Original Lease. Such payments In addition to Minimum Rent, Lessee shall be paid concurrently pay and discharge all Additional Charges and other Rent payable with respect to the payments Facilities in the manner and in the amounts set forth in or determined by the Lease, as hereby amended. (e) The provisions of Section 3.1(d) of the Rent on which Original Lease shall have no further force and effect, and Lessor and Lessee acknowledge and agree that there is currently no unpaid Deferred Rent. (f) In addition to the tax is based. Base Minimum Rent and Additional Rent Charges, Lessee shall pay to Lessor upon the Commencement Date for each calendar year or portion thereof during the Lease TermAtlanta Facility, shall be due the Dallas Facility and payable in advance in monthly installments on the first day Greenfield Facility, a one-time payment of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first “Supplemental Rent” with respect to the earliest accrued Atlanta Facility, the Dallas Facility and unpaid Rent then outstandingthe Greenfield Facility in the total amount of Thirteen Million One Hundred Ten Thousand Dollars ($13,110,000.00) (the “Supplemental Rent”). Tenant’s covenant to pay Such Supplemental Rent shall be independent deemed fully earned by Lessor as of every other covenant set forth in this the Commencement Date with respect to the Atlanta Facility, the Dallas Facility and the Greenfield Facility, and shall not be subject to any proration, adjustment or credit, notwithstanding the expiration or early termination of the Lease. B. If Tenant fails , as hereby amended, with respect to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordFacilities.

Appears in 1 contract

Sources: Master Lease (Kindred Healthcare, Inc)

Rent. A. Tenant covenants to shall pay to Landlord as the Base Rent for the Premises the amount set forth in Section 1(i), subject to adjustment as hereinafter provided. Nothing contained herein shall be construed at any time so as to reduce the Base Rent payable hereunder below the amount set forth above. Base Rent shall be adjusted in accordance with the following provisions (any such adjustment is “Additional Rent”). Prior to January 1 of each year in the Term or as soon thereafter as reasonably possible, Landlord shall provide Tenant with an estimate (which Landlord may re-estimate at any time) of Operating Expenses and Taxes for the next calendar year in the Term (each, an “Operating Period”), and commencing on January 1 of each Operating Period, one-twelfth (1/12) of Tenant’s Pro-rata Share of the estimated Operating Expenses and Taxes will be due each month from Tenant as Tenant’s Additional Rent during such Operating Period. If Landlord’s statement is furnished after the Lease Termstart of an Operating Period, without any setoff or deduction except as otherwise expressly provided herein, then Tenant shall continue to pay the full monthly amount of all Base Rent and its Additional Rent due hereunder for the prior Operating Period and on the full amount next monthly Additional Rent payment date after Tenant receives Landlord’s statement, Tenant shall also pay any excess amounts allocable to the prior months in that Operating Period. As of all such other sums the Effective Date of money as shall become due under this Lease, all Landlord's estimate is that the amount that will be due as Additional Rent hereunder for the year in which the Commencement Date occurs will be $12.41 per RSF of which hereinafter may be collectively called “Rent.” In additionthe Rentable Area of Premises per year. Until further written notice is forwarded from Landlord to Tenant in accordance with the provisions of this Lease, Tenant shall pay, remit 1/12th of this amount to Landlord monthly as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with at the same time and in the same manner as Tenant’s monthly payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this LeaseRent. B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.

Appears in 1 contract

Sources: Commercial Lease Agreement (Moleculin Biotech, Inc.)

Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord as Additional Base Rental hereunder Tenant's Pro Rata Share of the amount, if any, by which Basic Costs for the applicable calendar year exceed the Basic Costs for the Base Year (the "Excess"). In the event that Taxes and/or Expenses, as the case may be, in any calendar year decrease below the amount of Taxes or Expenses for the Base Year, Tenant's Pro Rata Share of Taxes and/or Expenses, as the case may be, for such calendar year shall be deemed to be $0, it being understood that Tenant shall not be entitled to any credit or offset if Taxes and/or Expenses decrease below the corresponding amount for the Base Year. Prior to the Commencement Date and prior to January 1 of each calendar year during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinsoon thereafter as practical, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as Landlord shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments make a good faith estimate of the Rent on which Excess for the tax is basedapplicable calendar year. Base Rent and Additional Rent for each calendar year On or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Additional Base Rental, a monthly installment equal to one- twelfth of Tenant's Pro Rata Share of Landlord's estimate of the Excess. Landlord shall have the right from time to time during any such calendar year to revise the estimate of the Excess for such year and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be based upon such revised estimate. If Landlord does not provide Tenant with an estimate of the Excess by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the previous year's estimate until such time as Landlord provides Tenant with an estimate of the Excess for the current year. Upon receipt of such current year's estimate, an adjustment shall be made for any month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the current year with respect to which Tenant paid monthly installments of Additional Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, Rental based on the number previous year's estimate of days in such monththe Excess. All amounts received by Tenant shall pay Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay for any installment of Base Rent and Additional Rent or any other item of Rent underpayment within ten (10) days after demand. Any overpayment shall be credited against the same becomes installment of Additional Base Rental due for the months immediately following the furnishing of such estimate. Any amounts paid by Tenant based on Landlord's estimate of the Excess shall be subject to adjustment pursuant to the immediately following paragraph when actual Basic Costs are determined for such calendar year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Costs and the actual Excess for such previous calendar year. Landlord shall use reasonable efforts to provide such statement to Tenant within six (6) months following the end of each calendar year. If the estimated Excess actually paid by Tenant for the prior year is in excess of Tenant's actual Pro Rata Share of the Excess for such prior year, then Landlord shall apply such overpayment against Additional Base Rental due or to become due hereunder, provided if the Lease Term expires prior to the determination of such overpayment, Landlord shall refund such overpayment to Tenant after first deducting the amount of any Rent due hereunder. Likewise, Tenant shall pay to Landlord, within ten (10) days after demand, any underpayment with respect to the prior year, whether or not the Lease has terminated prior to receipt by Tenant of a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease. B. Basic Costs shall mean all costs and expenses paid or incurred in each calendar year in connection with operating, maintaining, repairing, managing and owning the Building and the Property, including, but not limited to, the following: 1. All labor costs for all persons performing services required or utilized in connection with the operation, repair, replacement and maintenance of and control of access to the Building and the Property, including but not limited to amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and other similar taxes, workers' compensation insurance, uniforms, training, disability benefits, pensions, hospitalization, retirement plans, group insurance or any other similar or like expenses or benefits. 2. All reasonable management fees (not to exceed 10% of Landlord's gross revenues from the operation of the Building), the cost of equipping and maintaining a management office at the Building, accounting services, legal fees not attributable to leasing and collection activity, and all other administrative costs relating to the Building and the Property. If management services are not provided by a third party, Landlord shall be entitled to a management fee comparable to that due and payable hereunderto third parties provided Landlord or management companies owned by, or management divisions of, Landlord perform actual management services of a “Late Charge” equal comparable nature and type as normally would be performed by third parties. 3. All rental and/or purchase costs of materials, supplies, tools and equipment used in the operation, repair, replacement and maintenance and the control of access to the Building and the Property. 4. All amounts charged to Landlord by contractors and/or suppliers for services, replacement parts, components, materials, equipment and supplies furnished in connection with the operation, repair, maintenance, replacement of and control of access to any part of the Building, or the Property generally, including the heating, air conditioning, ventilating, plumbing, electrical, elevator and other systems and equipment. At Landlord's option, major repair items may be amortized over a period of up to five percent (5%) years. 5. All premiums and deductibles paid by Landlord for fire and extended coverage insurance, earthquake and extended coverage insurance, liability and extended coverage insurance, rental loss insurance, elevator insurance, boiler insurance and other insurance customarily carried from time to time by landlords of such unpaid amount will comparable office buildings or required to be due carried by Landlord's Mortgagee. 6. Charges for all utilities, including but not limited to water, electricity, gas and payable with the next installment of Base Rent sewer, but excluding those charges for which Landlord is otherwise reimbursed by Tenant to Landlordtenants.

Appears in 1 contract

Sources: Office Lease (First Capital Insured Real Estate Limited Partnership)

Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord the Base Rental. The Base Rental shall be payable in equal monthly installments during the Lease Term, without any setoff or deduction except commencing as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent Commencement Date. In the event the Commencement Date shall occur on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a calendar month, then the installments of Base Rent (Rental, and if any) and applicable, the Additional Rent (if any) Base Rental, shall be pro-rated for such month based upon a thirty (30) day month. Tenant covenants and agrees to also pay during the Lease Term as Additional Base Rental hereunder Tenant's Pro-Rata Share of Additional Base Rental. Prior to the first anniversary of the Commencement Date, and prior to January 1 of each subsequent calendar year during the Lease Term, or months as soon thereafter as practical, Landlord shall provide to Tenant the reasonably estimated amount of Tenant's Pro-Rata Share of Additional Base Rental (the "Estimate") for the applicable calendar year. On or before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Additional Base Rental, a monthly installment equal to one-twelfth of the Estimate. Landlord shall have the right from time to time during any such calendar year to revise the reasonable Estimate to be paid by Tenant for such year to reflect a new reasonable Estimate, and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be proratedbased upon such revised Estimate. If Landlord does not provide Tenant with an Estimate by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the number previous year's Estimate until such time as Landlord provides Tenant with an Estimate for the current year. Upon receipt of days in such month. All amounts received by Landlord from Tenant hereunder current year's Estimate, an adjustment shall be applied first made for any month during the current year with respect to which Tenant paid monthly installments of Additional Base Rental based on the earliest accrued and unpaid Rent then outstandingprevious year's Estimate. Tenant’s covenant to Tenant shall pay Rent shall be independent of every other covenant set forth in this Lease. B. If Tenant fails to pay Landlord any installment of Base Rent and Additional Rent or any other item of Rent underpayment within ten (10) days after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant within ten (10) days from the same becomes date determined by Landlord or credited against the installment of Additional Base Rental due for the months immediately following the furnishing of such estimate; provided that in the event Tenant shall then be in default hereunder, Landlord shall be entitled to apply any such overpayment on account of other sums then due to Landlord. Any amounts paid by Tenant based on any Estimate shall be subject to adjustment pursuant to the immediately following paragraph when actual Expenses are determined for such calendar year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Costs and the actual amount of Tenant's Pro-Rata Share of Additional Base Rental for the previous calendar year. If the amount of the Estimate actually paid by Tenant for the prior year is in excess of the amount of Tenant's Pro-Rata Share of Additional Base Rental for such prior year, then Landlord shall apply such overpayment against Additional Base Rental due or to become due hereunder, provided if the Lease Term expires prior to the determination of such overpayment, Landlord shall refund such overpayment to Tenant after first deducting the amount of any Rent due hereunder. Likewise, Tenant shall pay to Landlord, within ten (10) days after demand, any underpayment with respect to the prior year, whether or not the Lease has terminated prior to receipt by Tenant of a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease. Tenant's Pro Rata Share of Additional Base Rental for any partial calendar year shall be determined by multiplying the amount of Tenant's Pro Rata Share of Additional Base Rental for the full calendar year by a fraction, the numerator of which is the number of days during such calendar year falling within the Lease Term and the denominator of which is 365. B. Basic Costs shall mean all costs and expenses paid or incurred in each calendar year in connection with operating, maintaining, repairing, managing and owning the Building and the Property, [except to the extent expressly limited below in the case of the items described in subsections (6) and (9) below] including, but not limited to, the following: 1. All labor costs for all persons performing services required or utilized in connection with the operation, repair, replacement and maintenance of and control of access to the Building and the Property, including but not limited to amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and other similar taxes, workers' compensation insurance, uniforms, training, disability benefits, pensions, hospitalization, retirement plans, group insurance or any other similar or like expenses or benefits. 2. All management fees, the cost of equipping and maintaining a management office at the Building, accounting services, legal fees not attributable to leasing and collection activity, and all other administrative costs relating to the Building and the Property. If management services are not provided by a third party, Landlord shall be entitled to a management fee comparable to that due and payable hereunderto third parties provided Landlord or management companies owned by, or management divisions of, Landlord perform actual management services of a “Late Charge” equal comparable nature and type as normally would be performed by third parties with the understanding; however, that in the event Landlord or an entity owned or controlled by Landlord or parties owning no less than 51% of the ownership interests in Landlord shall receive such management fee, Landlord shall waive any general overhead of Landlord as to general management of the Building for which Landlord receives such management fee, including, overhead charges for services such as accounting, secretarial, bookkeeping, office rent for the management office, office furniture, supplies and equipment. 3. All rental and/or purchase costs of materials, supplies, tools and equipment used in the operation, repair, replacement and maintenance and the control of access to the Building and the Property. 4. All amounts charged to Landlord by contractors and/or suppliers for services, replacement parts, components, materials, equipment and supplies furnished in connection with the operation, repair, maintenance, replacement of and control of access to any part of the Building, or the Property generally, including the heating, air conditioning, ventilating, plumbing, electrical, elevator and other systems and equipment. At Landlord's option, major repair items may be amortized over a period of up to five percent (5%) years. 5. All premiums and deductibles paid by Landlord for fire and extended coverage insurance, earthquake and extended coverage insurance, liability and extended coverage insurance, rental loss insurance, elevator insurance, boiler insurance and other insurance customarily carried from time to time by landlords of such unpaid amount will comparable office buildings or required to be due carried by Landlord's Mortgagee. 6. Charges for all utilities, including but not limited to water, electricity, gas and payable with sewer, to the next installment extent provided to the common areas of Base Rent by Tenant to Landlordthe Building located on the first floor.

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Sources: Office Lease Agreement (Universal Access Inc)