Common use of Base Rent Clause in Contracts

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 4 contracts

Samples: Lease (Precision Biosciences Inc), Lease (Precision Biosciences Inc), Keystone Technology Park Lease (Heat Biologics, Inc.)

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Base Rent. 3.1 Beginning on Purchaser will receive a credit at Closing for the Rent Commencement Date, Tenant shall pay, without prior notice prorated amount of all base or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer fixed rent payable pursuant to the account of Landlord as provided to TenantLeases and all Additional Rents (collectively, base rent (Base Rent”) as set forth in Section 4 of previously paid to, or collected by, Seller and attributable to any period following the SummaryClosing Date. Rents are “Delinquent” when they were due prior to the Closing Date, payable in equal monthly installments as set forth in Section 4 of the Summary in advance and payment thereof has not been made on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoeverClosing Date. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Delinquent Rent shall not be discharged prorated at Closing. All Rent collected by Purchaser or otherwise affected Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any law tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or regulation now pursue any legal proceedings; and (ii) shall not be permitted to commence or hereafter applicable to pursue any legal proceedings against any tenant seeking eviction of such tenant or the Premisestermination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, or common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other restriction on Tenant’s use, or (except as expressly provided herein) tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceconveyance documentation.

Appears in 4 contracts

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (Cornerstone Core Properties REIT, Inc.), Agreement of Purchase and Sale (Simpson Manufacturing Co Inc /Ca/), Agreement of Purchase and Sale (Matrix Bancorp Inc)

Base Rent. 3.1 Beginning (a) Tenant shall pay Base Rent in the manner set forth below. Base Rent shall be payable monthly, in arrears, without notice on the Rent Commencement Date, and continuing thereafter on the first LIBOR Business Day of each successive month, except that the last installment of Base Rent shall be payable on the last day of the Term (each such date shall be a "Rent Payment Date") and shall be an amount sufficient to pay all Base Rent accrued through the end of the Term. Tenant shall paypay Base Rent as follows: The Senior Rent Component shall be paid to UBS, without prior notice or demandand the Equity Rent Component shall be paid to Landlord, to Landlord or Landlord’s agent at the management office of Address for Rent set forth in the Project, Basic Lease Provisions (or, at Landlord’s optionif the UBS Loan has been replaced by a New Loan or Replacement Loan, then the Senior Rent Component shall be paid directly to the holder of such New Loan or Replacement Loan) or at such other place as Landlord and Tenant may from time to time designate mutually agree upon, in advance their respective sole and absolute discretion. Tenant shall pay Base Rent by wire transfer or by check. Landlord or UBS or such other holder of a New Loan, as the case may be, shall supply Tenant with such bank account information as Tenant shall require to enable payment by wire transfer. The parties agree that Tenant is paying the Senior Rent Component of Base Rent directly to UBS for the convenience of the parties in writing, (i) by a check order to satisfy Landlord's obligations to pay interest under the UBS Loan for currency which, at the period of time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer corresponding to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any ; all Base Rent payment date (including payments shall be deemed payments to Landlord to the Rent Commencement Date) falls on a day extent of the month other than Equity Rent Component and payments of the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is interest due to UBS under the end of such calendar month or UBS Loan to the end extent of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Senior Rent and Additional Rent, as defined below, shall together be denominated “RentComponent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 3 contracts

Samples: Ground Lease (Cisco Systems Inc), Lease (Cisco Systems Inc), Ground Lease (Cisco Systems Inc)

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall paypay Landlord rent (herein called "Base Rent") in arrears, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, that at the time of payment, payment is legal tender for public and private or public debts in the United States of America, in installments on each Base Rent Date through the end of the Term. Each payment of Base Rent must be received by Landlord no later than 12:00 noon (San Francisco time) on the date it becomes due; if received after 12:00 noon it will be considered for purposes of this Lease as received on the next following Business Day. Each installment of Base Rent shall represent rent allocable to the Base Rent Period (or portion thereof) ending on the date on which the installment is due. Landlord shall notify Tenant in writing of the Base Rent due for each Base Rent Period at least fifteen (ii15) days prior to the Base Rent Date on which such period ends. Any failure by Landlord to so notify Tenant shall not constitute a waiver of Landlord's right to payment, but absent such notice Tenant shall not be in default for any underpayment resulting therefrom if so elected by Tenant, in good faith, reasonably estimates the payment required, makes a timely payment of the amount so estimated and corrects any underpayment within three (3) Business Days after being notified by electronic funds transfer Landlord of the underpayment. For all Base Rent Periods subject to a LIBOR Period Election of one month, two months or three months, Base Rent shall be due in one installment on the Base Rent Date upon which the Base Rent Period ends. For Base Rent Periods subject to a LIBOR Period Election of six months, Base Rent shall be payable in two installments, with the first installment becoming due on the Base Rent Date that occurs on the first Business Day of the third calendar month following the commencement of such Base Rent Period, and with the second installment becoming due on the Base Rent Date upon which the Base Rent Period ends. Notwithstanding the foregoing, if Tenant or any Applicable Purchaser purchases Landlord's interest in the Property pursuant to the account Purchase Agreement, any accrued unpaid Base Rent and all outstanding Additional Rent shall be due on the date of purchase in addition to the purchase price and other sums due Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of under the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoeverPurchase Agreement. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. each Base Rent and Additional Rent, as defined below, Period shall together be denominated “Rent.” Without limiting equal the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.sum of:

Appears in 3 contracts

Samples: Lease Agreement (3com Corp), Lease Agreement (3com Corp), Lease Agreement (3com Corp)

Base Rent. 3.1 Beginning on the Rent Commencement Date, A. Tenant shall pay, without prior notice or demand, covenants and agrees to pay to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoeverexcept 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 (including, without limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request), all of which hereinafter may be collectively called “Rent.” In addition Tenant shall pay and be liable for, 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 the terms and conditions of this Lease. Any 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, shall be due and payable in advance in monthly installments of the first full day of each calendar month of during the Lease Term shall be paid at the time of Tenant’s execution of this Leaseand any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If any Rent payment date (including the Rent Commencement Date) falls Lease Term commences on a day of the month other than the first day of such a month or if any payment terminates on a day other than the last day of Rent is for a period which is shorter than one month, then the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end installments of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional RentRent for such month or months shall be prorated, as defined belowbased on the number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall together any endorsement or statement on any check or any letter accompanying any check or payment be denominated “Rent.” Without limiting deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the foregoing, balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be construed to be a waiver of Landlord’s right to declare a default for any other late payment. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s obligation covenant to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any independent of every other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceset forth in this Lease.

Appears in 2 contracts

Samples: Office Lease Agreement (Wageworks, Inc.), Office Lease Agreement (Quest Resource Corp)

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, agrees to pay to Landlord or Landlord’s agent without notice an annual “Base Rent”. The Base Rent will be payable at the management office annual rate shown in the Basic Leasing Information of the Projectthis Lease without any offset, ordefense or deduction whatsoever, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, lawful (i) by a check for currency which, at the time of payment, is legal tender for public or private or public debts in debts) money of the United States of America, at Landlord’s address or (ii) if so elected elsewhere as designated from time to time by Tenant, by electronic funds transfer to the account of Landlord as provided Landlord’s written notice to Tenant, base rent (“. The Base Rent”) Rent will be adjusted for increases as set forth in Section 4 within the Basic Leasing Information of this Lease. Landlord, upon execution of this Lease by Landlord and Tenant, hereby acknowledges payment by Tenant of the Summary“Initial Payment” as shown in the Basic Leasing Information of this Lease, representing payment of the monthly installment(s) of annual Base Rent and Additional Rent (as hereafter defined), together with the sales tax thereon. The total Base Rent is payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Leasemonth. If the Term commences on any Rent payment date (including the Rent Commencement Date) falls on a day of the a month other than the first day, Tenant shall pay Landlord the full monthly Base Rent as provided for herein for such commencement month, and thereafter the sum which should have actually been paid for said first month shall be calculated on a pro rata basis (such proration to be based on the actual number of days in the commencement month), and the difference shall be credited as a reduction in the next month’s installment of annual Base Rent to be paid by Tenant hereunder on the first day of such month or if any payment of Rent is for a period which is shorter than one the next succeeding month, the . Base Rent for any fractional partial month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to occupancy at the end of the Term of this Lease Term at will be prorated, such proration to be based on the actual number of days in the partial month. In addition to Base Rent, Tenant shall and hereby agrees to pay to Landlord on the first day of each calendar month a rate per day which is sum equal to 1/365 any sales tax, tax on rentals, and any other governmental charges, taxes and/or impositions now in existence or hereafter imposed based upon the privilege of renting the Leased Premises or upon the amount of Rent (as defined below) collected therefor, without any offset defense or deduction whatsoever, in lawful (legal tender for public or private debts) money of the applicable annual RentUnited States of America, at Landlord’s address or elsewhere as designated from time to time by Landlord’s written notice to Tenant. All other payments or adjustments In addition, Tenant agrees to be fully responsible for the payment of documentary stamps, if any, due pursuant to this Lease. Nothing herein shall, however, be taken to require Tenant to pay any part of any Federal and State Taxes on income imposed upon Landlord. Tenant shall be required to be made under pay Landlord interest on any Rent (as defined below) due that remains unpaid for five (5) days after its due date. Further, in the event (i) Tenant fails to pay Rent by the fifth (5th) day of the month in which such installment is due, or (ii) any other sums owed to Landlord pursuant to the terms of this Lease that require proration on within five (5) days after accrual thereof or billing therefor, there will be added to such unpaid sum a time basis late charge equal to ten percent (10%) of the installment or sum due, in order to defray the costs to Landlord for additional administrative expenses incurred as a result of such late payments. For all purposes of this Lease, the term “Rent” shall be prorated on the same basis. include all Base Rent and Additional Rent, charges or impositions thereon, Additional Rent (as defined below), adjustments to Rent and any and all other payments due or which may become due from Tenant to Land-lord hereunder. Interest will be computed at the maximum legal rate and will be deemed to accrue from the fifth (5th) day after Rent is due and shall together be denominated “Rent.” Without limiting continue to accrue for as long as the foregoingsum remains unpaid. Provided, Tenant’s obligation to pay Rent however, this provision shall not be discharged construed as requiring Landlord to accept any late payment of Rent or otherwise affected as a waiver of any of Landlord’s rights or remedies by any law or regulation now or hereafter applicable to the Premises, or any other restriction on virtue of Tenant’s usenot making timely payment of Rent hereunder, or (except and Land-lord’s acceptance of late Rent and such interest shall not be construed as expressly provided herein) any casualty or taking, or any failure constituting a waiver by Landlord of any rights or remedies available to perform it in the event that Rent is not timely paid by Tenant on any covenant contained hereinone or more future occasions, or any other occurrenceincluding declaring Tenant in default under this Lease and pursuing all remedies available to it arising from such default. The Base Rent as specified in the Basic Leasing Information of this Lease will increase annually on each yearly anniversary of the Lease Term as stated therein. Tenant by acceptance and execution of this Lease shall be deemed to have agreed to and received notice of the Annual Base Rent for each year of the Lease Term. Landlord shall not be required to provide notice of the new Base Rent; and Tenant must pay Landlord the current monthly payment of Base Rent, in accordance with the schedule set forth in the Basic Leasing Information.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement (Omnicomm Systems Inc)

Base Rent. 3.1 Beginning on Throughout the Rent Commencement DateLease Term, Tenant shall paypay Base Rent in the amount set forth above. Tenant promises to pay to Landlord in advance, without prior notice or demand, to Landlord deduction or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place set-off (except as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as expressly set forth in Section 4 of the Summaryherein), payable in equal monthly installments as set forth in Section 4 of the Summary in advance Base Rent and Additional Rent on or before the first day of each calendar month commencing on the Commencement Date. If the Lease Term commences or expires on a date other than the first day or the last day of a calendar month, respectively, then the Rent payable for such partial calendar month shall be an amount equal to the monthly installment of Rent otherwise then in effect, divided by the number of days in the full calendar month during which the Lease Term commences or expires, respectively, and every multiplied by the number of days in the partial calendar month after and including the Commencement Date or before and including the date of expiration, respectively, and provided, further that the Rent for any partial calendar month at the commencement of the initial Lease Term shall be payable on the first day of the first full calendar month during the Lease Term. All sums, liabilities, obligations and other amounts which Tenant is required to pay or discharge pursuant to this Lease in addition to Base Rent, including without any setoff or deduction whatsoever. The Base Rent for the first full month limitation Tenant’s Proportionate Share of the Lease Term Site Operating Costs (as hereinafter defined), together with any interest, penalty, or other sum which may be added for late payment thereof, shall be paid at constitute additional rent hereunder (herein called “Additional Rent”). In the time event of Tenant’s execution any failure on the part of this Lease. If Tenant to pay or discharge any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than foregoing, after the first day expiration of such month all applicable notice and cure periods (if any), Landlord shall have all rights, powers and remedies provided for herein (or if any payment by law or equity or otherwise) in the case of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end nonpayment of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Base Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis by Tenant to Landlord hereunder shall be prorated on the same basispayable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and Additional Rent, Rent (sometimes hereinafter collectively referred to as defined below, shall together be denominated “Rent.” Without limiting ”) and the foregoingobligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to axxxx, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premisesreduce, or set-off any other restriction on Tenant’s useRent due hereunder, or (except as expressly specifically provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 2 contracts

Samples: Lease (Ulta Salon, Cosmetics & Fragrance, Inc.), Lease (Ulta Salon, Cosmetics & Fragrance, Inc.)

Base Rent. 3.1 Beginning on the Rent Commencement Date, A. Tenant shall pay, without prior notice or demand, covenants and agrees to pay to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoeverexcept 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 (including, without limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant's request), all of which hereinafter may be collectively called "RENT." In addition Tenant shall pay and be liable for, 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 the terms and conditions of this Lease. Any 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, shall be due and payable in advance in monthly installments of the first full day of each calendar month of during the Lease Term shall be paid at the time of Tenant’s execution of this Leaseand any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If any Rent payment date (including the Rent Commencement Date) falls Lease Term commences on a day of the month other than the first day of such a month or if any payment terminates on a day other than the last day of Rent is for a period which is shorter than one month, then the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end installments of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional RentRent for such month or months shall be prorated, as defined belowbased on the number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall together any endorsement or statement on any check or any letter accompanying any check or payment be denominated “Rent.” Without limiting deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the foregoing, balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be construed to be a waiver of Landlord's right to declare a default for any other late payment. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s obligation 's covenant to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any independent of every other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceset forth in this Lease.

Appears in 2 contracts

Samples: Office Lease Agreement (Integrated Information Systems Inc), Industrial Building Lease Agreement (Intelliready Inc /Co/)

Base Rent. 3.1 Beginning on Rent and other charges under the Leases (to the extent such monies have actually been collected by Seller) shall be for the account of Seller for the period through the day before the Closing, except that Additional Rents (as defined below) shall be prorated in accordance with Section 11.5 (b) below. Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at and other charges under the management office Leases that are delinquent as of the ProjectClosing shall not be prorated, or, at Landlord’s option, at and rents and other amounts received by Buyer within twelve (12) months following the Closing from any tenant owing such delinquent rent or other place as Landlord may from time to time designate in advance and in writing, charges shall be applied (i) by a check for currency whichfirst, at the time to Buyer’s actual out-of-pocket costs of payment, is legal tender for private or public debts in the United States of America, or collection incurred with respect to such tenant; (ii) if so elected second, to rents due from such tenant for the month in which such payment is received by TenantBuyer; (iii) third, by electronic funds transfer to rents attributable to any period after the account Closing which are past due on the date of Landlord receipt; (iv) fourth, to rents and other charges delinquent as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the SummaryClosing (and Buyer promptly shall remit such amounts to Seller); and (v) finally, payable the remainder, if any, shall be retained by Buyer. Buyer agrees that it shall use commercially reasonable efforts to collect any such delinquent rents (provided, however, that Buyer shall have no obligation to institute legal proceedings, including an action for unlawful detainer, against a tenant owing delinquent rents). After such twelve (12) month period mentioned above, all rents received by Buyer shall be retained by Buyer and Seller shall have no interest in equal monthly installments the same. Seller may pursue collection of any rents that were past due as set forth in Section 4 of the Summary Closing, provided Seller shall have no right to terminate any Lease or any tenant’s occupancy under such applicable Lease in advance on or before the first day of each and every calendar month during the Lease Term, without connection therewith. Seller agrees to deliver to Buyer any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis rents received by Seller for the period from and after the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “RentClosing Date.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 2 contracts

Samples: Purchase and Sale Agreement and Escrow Instructions, Purchase and Sale Agreement and Escrow Instructions (Zynga Inc)

Base Rent. 3.1 Beginning on In consideration of the Rent Commencement Datelease of the Premises pursuant to this Lease, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts pay Base Rent in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as applicable amount set forth in Section 4 of the Summary, Article I payable in equal monthly installments as set forth in Section 4 of one-twelfth of the Summary annual Base Rent, which shall be paid without offset or deduction for any reason (except as otherwise expressly provided in advance this Lease), in advance, on or before the first day of each and every calendar month during the Lease TermTerm hereof, without subject to the following, and also on the Term Commencement Date, should it be on any setoff or deduction whatsoever. The day other than a first day of the month, a proportionate part of the monthly Base Rent shall be paid for such month. Notwithstanding the foregoing, Tenant shall (i) have no obligation to pay Base Rent that would otherwise be payable during the first full month five (5) months of the Lease Term (the “Initial Free Rent Period”), and (ii) receive an abatement of fifty percent (50%) of the next successive thirteen (13) months of Base Rent that would otherwise be payable during the next successive thirteen (13) months of the Lease Term (the “Partial Rent Abatement Period”). During the Initial Free Rent Period, the free rent set forth above is for Base Rent and Additional Rent for Taxes and/or Operating Costs; provided that in all events Tenant shall pay the cost of utilities supplied to the Premises during the Initial Free Rent Period and for any services directly contracted for by the Tenant. During the Partial Rent Abatement Period, the rent abatement set forth above is for Base Rent only and Tenant shall pay all Additional Rent, including but not limited to Additional Rent for Taxes and/or Operating Costs, and for the cost of utilities supplied to the Premises during the Partial Rent Abatement Period and for any services directly contracted for by the Tenant. Base Rent and Additional Rent shall be paid when due hereunder either (a) by wire transfer and/or an “electronic funds transfer” system (“EFT”) arranged by and among Tenant, Tenant’s bank and Landlord with Tenant submitting to Landlord at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms and delivery of this Lease that require proration on to Landlord a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable completed ACH electronic fund transfer form similar to the Premises, or any other restriction on Tenant’s useone attached hereto as Exhibit D and sufficient to allow Landlord to make such transfers, or (except b) by check sent to Landlord’s office at Landlord’s Address or at such other place as expressly provided hereinLandlord shall from time to time designate in writing. If Tenant is using checks, rent checks shall be made payable to or as Landlord may designate from time to time in writing. The parties hereto acknowledge and agree that the obligations owing by Tenant under this Section are rent reserved under this Lease, for all purposes hereunder, and are rent reserved within the meaning of Section 502(b)(6) any casualty or taking, of the Bankruptcy Code or any failure by Landlord to perform any covenant contained herein, or any other occurrencesuccessor provision thereto.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement (Quanterix Corp)

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of AmericaAmerica or, or (ii) if so elected directed by Tenant, Landlord by electronic funds transfer or similar wire transaction pursuant to the account of Landlord as instructions provided to Tenantby Landlord, base rent (“Base Rent”) as set forth in Section 4 4A of the Summary, Summary payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, Rent shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary.

Appears in 2 contracts

Samples: Sublease (Jounce Therapeutics, Inc.), Sublease (Jounce Therapeutics, Inc.)

Base Rent. 3.1 Beginning on Throughout the Rent Commencement DateLease Term, Tenant shall paypay Base Rent in the amount set forth above. Tenant promises to pay to Landlord in advance, without prior notice or demand, to Landlord deduction or Landlord’s agent at the management office of the Projectset-off, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance Base Rent and Additional Rent on or before the first day of each calendar month commencing on the Commencement Date. If the Lease Term commences or expires on a date other than the first day or the last day of a calendar month, respectively, then the Rent payable for such partial calendar month shall be an amount equal to the monthly installment of Rent otherwise then in effect, divided by the number of days in the full calendar month during which the Lease Term commences or expires, respectively, and every multiplied by the number of days in the partial calendar month after and including the Commencement Date or before and including the date of expiration, respectively, and provided further that the Rent for any partial calendar month at the commencement of the Initial Lease Term shall be payable on the first day of the first full calendar month during the Lease Term. All sums, liabilities, obligations and other amounts which Tenant is required to pay or discharge pursuant to this Lease in addition to Base Rent, including without limitation assessments or common area maintenance charges due and payable to any setoff applicable ownership associations, together with any interest, penalty, or deduction whatsoeverother sum which may be added for late payment thereof, shall constitute additional rent hereunder (herein called "Additional Rent"). The Base Rent for In the first full month event of any failure on the part of Tenant to pay or discharge any of the Lease Term foregoing, Landlord shall be paid at have all rights, powers and remedies provided for herein (or by law or equity or otherwise) in the time case of Tenant’s execution nonpayment of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Base Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis by Tenant to Landlord hereunder shall be prorated on the same basispayable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and Additional Rent (sometimes hereinafter collectively referred to as "Rent") and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premisesreduce, or set-off any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceRent due hereunder.

Appears in 2 contracts

Samples: Lease (Blue Rhino Corp), Lease (Blue Rhino Corp)

Base Rent. 3.1 Beginning Subject to any Tenant Delay (which would result in Tenant paying Rent attributable to the number of days of Tenant Delay, as set forth below, offset day for day by the number of days of delay caused by Landlord), Tenant Allowance (as defined in the Work Letter) credits or other provisions set forth in this Lease, commencing on the Phase One Rent Commencement Date, and Phase Two Rent Commencement Dates, respectively, and throughout the Term of this Lease, Tenant shall pay, without prior notice or demand, pay base rental for the Premises to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts defined in the United States of AmericaSchedule above in equal monthly installments, or (ii) if so elected by Tenant, by electronic funds transfer to ( the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated are hereinafter collectively referred to as “Rent.” Without limiting ”). Notwithstanding the foregoing, if Landlord is unable to deliver possession of the Phase One Premises to Tenant on or before January 1, 2004 due to a Tenant Delay, then in addition to the Phase One Rent Commencement Date obligations, Tenant shall pay Landlord on the Phase One Rent Commencement Date, Base Rent only in the amount attributable to the number of days in the Tenant Delay as Landlord’s sole remedy therefor. Landlord shall deliver possession of the Phase One Premises to Tenant upon substantial completion of the improvements thereto. If Landlord substantially completes the Phase One Premises prior to January 1, 2004, and/or the Phase Two Premises prior to December 1, 2004, and Tenant or its approved subtenant occupies either of such Premises, Tenant’s obligation or its approved subtenant’s early occupancy of the Phase One Premises and Phase Two Premises shall be upon all of the terms and conditions of this Lease except, as to the applicable space, Tenant shall pay no Base Rent or Additional Rent with respect to such early occupancy period, but Tenant shall be liable for the cost of utilities consumed by Tenant in the Phase One Premises and/or Phase Two Premises prior to January 1, 2004 and December 1, 2004, respectively. Should the Phase Two Rent Commencement Date be delayed beyond December 1, 2004 as the result of a Tenant Delay, then in addition to the Phase Two Rent Commencement Date obligations, Tenant shall pay Landlord on the Phase Two Rent Commencement Date, Base Rent only in the amount attributable to the number of days in the Tenant Delay for the Phase Two Premises as Landlord’s sole remedy therefor. Unless otherwise set forth in this Lease, each monthly installment of Rent shall be due and payable promptly on the first day of each month, in advance, during the Term of this Lease. Tenant shall pay to Landlord all Base Rent, Additional Rent, and all other charges due and owing by Tenant under this Lease without, counterclaim, deduction, prior demand, or set off, in legal tender; provided, that the foregoing is not be discharged or otherwise affected by any intended to waive Tenant’s rights against Landlord at law or regulation now in equity in the event of a breach by Landlord hereunder beyond applicable notice and cure periods. In the event that the Phase One Rent Commencement Date or hereafter applicable Phase Two Commencement Date shall commence on a date other than the first day of the month, Rent for such month shall be prorated and such prorated amount (which shall be equal to the Premisesmonthly Base Rent stated above and Additional Rent multiplied by a fraction, the numerator of which shall be the number of days from the Phase One Rent Commencement Date or the Phase Two Rent Commencement Date, as applicable, through the end of such month, inclusive of both days, and the denominator of which shall be the number of days in such month) shall be due and payable on the Phase One Rent Commencement Date and (unless otherwise provided in this Lease) Phase Two Rent Commencement Date, respectively. All payments of Rent or any other restriction sum due under this Lease shall be made payable to “Xxxxxx New Manchester Building One, L.L.C.” and shall be delivered by Tenant to Landlord, on or before the due date, as follows: c/o Carter & Associates 0000 Xxxxxxxxx Xxxxxx, X.X. Xxxxxxx, Xxxxxxx 00000 or at such other place as Landlord may designate from time to time in writing to Tenant. Tenant shall be entitled to rely on any instructions from Landlord’s lenders to make payment of Rent to such lenders, in lieu of Landlord, without Tenant incurring any liability to Landlord therefor and in such event, shall satisfy Tenant’s usecorresponding Rent obligations to Landlord in such paid amounts. In the event Tenant shall fail to pay a monthly installment of Rent within five (5) days of the due date, a late charge of one percent (1%) of the amount due shall be paid to Landlord for each such late payment and the same shall be treated as Additional Rent. In addition, in the event that any check from Tenant for payment due under this Lease is returned by a bank for any reason, Tenant shall pay to Landlord a returned check charge of One Hundred Dollars ($100.00) together with such other fee charged by the bank returning the check. Should Tenant present a check to Landlord that is returned from Tenant’s bank for any reason, Landlord reserves the right to demand that all future rental payments be made in the form of cashiers’ checks. Tenant also agrees to pay Landlord interest at a rate of ten percent (10%) per annum (or, in any event hereunder, the maximum rate permitted by Applicable Law, whichever is less) on all Rent or other sums due hereunder that are not paid when such amounts are due and payable. All late charges, any returned check charges and any interest shall become Additional Rent and shall be due and payable immediately along with such other Rent or other sums due hereunder then in arrears. Nothing contained herein shall require Landlord to accept any tender of payment from Tenant for less than the full amount then due under this Lease, including any and all interest and attorneys’ fees that may then be due from Tenant in accordance with the express terms of this Lease. Landlord may elect to accept less than the full amount then due from Tenant hereunder; however, no payment by Tenant or receipt by Landlord of such lesser amount shall be deemed to be other than payment on account, and no restrictive endorsement or statement on any check or payment shall be deemed to alter the express provisions of this Lease, nor constitute an accord and satisfaction. Landlord may accept less than the full amount then due from Tenant without prejudice to Landlord’s right to recover the balance of the full amount then due, or (except as expressly provided herein) to pursue any casualty other remedies then available to Landlord under this Lease or takingApplicable Law. In all events, or including but not limited to Landlord’s acceptance of a partial payment from Tenant, any failure payment accepted by Landlord from Tenant may be applied first to perform retire the oldest receivables due from Tenant hereunder, then to any covenant contained hereincurrent rental or other payment then due hereunder, and the balance, if any, will be returned promptly to Tenant. Any payments or any other occurrencecharges due from Tenant to Landlord under this Lease shall be considered Rent for all purposes of this Lease.

Appears in 2 contracts

Samples: Industrial Lease Agreement, Industrial Lease (Wells Real Estate Investment Trust Ii Inc)

Base Rent. 3.1 Beginning Tenant shall pay Base Rent in the amount set forth on the first page of this Lease The Base Rent Commencement Datefor calendar month November 2000 and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and, subject to Exhibit H. Tenant shall paypromises to pay to Landlord in advance, without prior notice or demand, to Landlord deduction or Landlord’s agent at the management office of the Projectset-off, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance Base Rent on or before the first day of each and every calendar month during succeeding the Lease Term, without any setoff or deduction whatsoever. The Commencement Date Payments of Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional calendar month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rentbe prorated. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis by Tenant to Landlord hereunder shall be prorated on the same basispayable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and Additional other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except where expressly provided in this Lease. Tenant acknowledges that late payment by Tenant to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any monthly installment of Base Rent, as defined belowestimated Operating Expenses or other sums due and payable hereunder for more than five (5) days, Tenant shall together be denominated “Rent.” Without limiting pay to Landlord on demand a late charge equal to five percent (5%) of such delinquent sum. The parties agree that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of such late payment by Tenant Notwithstanding the foregoing, Tenant’s obligation to pay Rent the late fee referenced above shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable charged with respect to the Premisesfirst two (2) occurrences (but not any subsequent occurrence) during any 12-month period that tenant fails to make payment when due, until five (5) days after Landlord delivers written notice of such delinquency to Tenant. The provision for such late charge shall be in addition to all of Landlord’s other rights and remedies hereunder or any other restriction on Tenant’s use, or (except at law and shall not be construed as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrencea penalty.

Appears in 2 contracts

Samples: Lease Agreement, Part of Lease Agreement (Rackspace Inc)

Base Rent. 3.1 Beginning on In addition to Tenant’s obligation to pay Base Rent for the Rent Commencement DateOriginal Premises, during the Temporary Space Term, Tenant shall paypay Landlord the sum of $11,603.00 per month as Base Rent for the Temporary Space, without prior notice or demandplus applicable state sales and use taxes, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at with each such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, installment payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease period beginning on the Temporary Space Effective Date and ending on the Temporary Space Termination Date, prorated for any partial month within the Temporary Space Term. All such Base Rent, without any setoff plus applicable state sales and use taxes, shall be payable by Tenant in accordance with the terms of the Lease. Notwithstanding anything to the contrary in this Section 2, Tenant shall be entitled to an abatement of Base Rent with respect to the Premises in the monthly amount of $11,603.00 per month for the Temporary Space Term (collectively, the “Abated Base Rent”). However, if Landlord desires to lease the Expansion Space to Tenant and Landlord and Tenant have not entered into a lease amendment for the Expansion Space on or deduction whatsoeverbefore August 31, 2012, then all Abated Base Rent shall immediately become due and payable, and notwithstanding anything in Section 1 above to the contrary, the Temporary Space Termination Date shall be September 30, 2012. The If Landlord elects not to lease the Expansion Space to Tenant, Tenant may continue to lease the Temporary Space on a month to month basis, but shall no longer be entitled to the Abated Base Rent, and Tenant shall pay Base Rent for the first full month Temporary Space, effective immediately upon Landlord’s notice to Tenant. Only Base Rent shall be abated pursuant to this Section, as more particularly described herein, and Tenant’s Share of Expenses and Taxes and all other rent and other costs and charges specified in the Lease, as amended hereby, shall remain as due and payable pursuant to the provisions of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rentamended hereby.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 2 contracts

Samples: Office Lease Agreement (GoPro, Inc.), Office Lease Agreement (GoPro, Inc.)

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall paypay to Landlord, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during of the Lease Term, without any setoff further notice or demand and without abatement, offset (except as expressly set forth herein), rebate, credit or deduction for any reason whatsoever, the monthly installments of rent specified in the Basic Lease Information (the “Base Rent”). The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s Upon execution of this Lease. If any Rent payment date (including , Tenant shall pay the Rent Commencement Date) falls on a day Prepaid Base Rent, specified in the Basic Lease Information to be applied toward Base for the month of the month Term specified in the Basic Lease Information. Notwithstanding anything herein to the contrary, Tenant shall be excused from the obligation of paying the Base Rent (but not any other than amounts) due hereunder for the Phase I Premises for the first day six (6) full calendar months following the Commencement Date (expected to be April through September 2019), in the aggregate amount of such month or if any payment of Rent is for $2,130,026.52 (the “Excused Base Rent”). However, should a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due Default occur prior to the end of such calendar month or to the end full application of the Lease Term at a rate per day which is equal to 1/365 Excused Base Rent, then such application of the applicable annual Rent. All other payments or adjustments required Excused Base Rent shall be tolled until such time as the Default is cured, and in the event that Landlord properly exercises Landlord’s remedy to terminate this Lease pursuant to Paragraph 25 below as a result of a Default by Tenant, then the Pro-Rated Excused Base Rent shall no longer be made under excused and shall become an obligation of Tenant hereunder, and Landlord shall be entitled to seek recovery of the Pro-Rated Excused Base Rent as part of the damages to which Landlord is otherwise entitled pursuant to the terms of this Lease that require proration on a time basis Lease. As used herein, the term “Pro-Rated Excused Base Rent” shall be prorated on mean an amount computed by dividing the same basis. Excused Base Rent by one hundred twenty (120) and Additional Rent, then multiplying the resulting quotient by the number of months which would have remained in the Term as defined below, shall together be denominated “Rentof the month of such Default by Tenant hereunder.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 2 contracts

Samples: Lease Agreement (10x Genomics, Inc.), Lease Agreement (10X Genomics, Inc.)

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall paypay to Landlord, without prior notice or demandas rent for the Premises, to Landlord or Landlord’s agent at the management office of the Projectin advance, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each calendar month, commencing on the Commencement Date (but subject to the Base Rent conditional abatement referred to in Paragraph 1.10 above) and every calendar continuing throughout the Lease Term, the Base Rent set forth in Paragraph 1.10 above (and Paragraph 3.3 above, if applicable). Base Rent shall be prorated, based on thirty (30) days per month, for any partial month during the Lease Term. Base Rent shall be payable, except as otherwise expressly set forth in this Lease, without any setoff deduction, offset, prior notice or deduction whatsoever. The Base Rent for the first full month demand in lawful money of the Lease Term shall be paid United States to Landlord at the time address herein specified for purposes of notice or to such other persons or such other places as Landlord may designate in writing. Notwithstanding the foregoing, at Tenant’s execution of this Lease. If any Rent payment date request Landlord shall provide Landlord’s banking information (including the Rent Commencement Date“Landlord’s ACH Account Information”) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease so that require proration on a time basis shall be prorated on the same basis. Tenant can pay Base Rent and Additional Rent, Rent (as defined below) by Electronic Funds Transfer (EFT) as an Automated Clearing House (“ACH”) transaction. Any such ACH transfers shall be paid by Tenant, from Tenant’s account in a bank or financial institution designated by Tenant and credited to Landlord’s bank account as Landlord shall together have designated in Landlord’s ACH Account Information. Tenant shall not be denominated “Rent.” Without limiting the foregoing, in default of Tenant’s obligation to pay Base Rent and/or Additional Rent if and for so long as Tenant shall timely comply with ACH transfer requirements and accurately state Landlord’s ACH Account Information. However, if Tenant shall have timely complied with ACH transfer requirements, but the applicable funds shall thereafter have been misdirected or not accounted for properly by the recipient bank designated by Landlord, then Tenant shall reasonably cooperate with Landlord in an effort to recover the misdirected funds and the same shall not relieve Tenant’s obligation to make the payment so transferred (but Tenant shall not be discharged required to be out-of-pocket the applicable payment amount in a duplicate amount due to such misdirected payment or otherwise affected payment not accounted for properly by the recipient bank), but shall toll the due date for such payment until the applicable funds shall have been located and deposited in Landlord’s bank account. In the event that Landlord elects to designate a different bank or financial institution into which any law or regulation now or hereafter applicable ACH transfer is to be deposited, written notification of such change and the required documents, instruments, authorizations, and any modified Landlord’s ACH Account Information, must be delivered to Tenant no later than 30 days prior to the Premises, date such change is to become effective. Tenant shall make a verbal confirmation with the Landlord party identified in Paragraph 1.14 of this Lease (who is Xxxx Xxxxxx as of the date of execution of this Lease) upon receiving the initial ACH or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord new ACH account information to perform any covenant contained herein, or any other occurrenceverify the accuracy of the same.

Appears in 1 contract

Samples: Lease Agreement (Rambus Inc)

Base Rent. 3.1 Beginning on Purchaser will receive a credit at Closing for the Rent Commencement Date, Tenant shall pay, without prior notice prorated amount of all base or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer fixed rent payable pursuant to the account of Landlord as provided to TenantLeases and all Additional Rents (collectively, base rent (Base Rent”) as set forth in Section 4 of previously paid to, or collected by, Seller and attributable to any period from and after the SummaryClosing Date. Rents are “Delinquent” when they were due prior to the Closing Date, payable in equal monthly installments as set forth in Section 4 of the Summary in advance and payment thereof has not been made on or before the first day of Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and every calendar month during the Lease Termafter Closing will be applied as follows: (i) first, without any setoff or deduction whatsoever. The Base to Delinquent Rent owed for the first full month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; by billing the tenants provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Lease Term Property following the expiration of the six (6) month period immediately following the Closing; and provided further, however, Seller (i) shall be paid required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. Purchaser and Seller acknowledge and agree that no reconciliation of tenant tax or expense reimbursements will be performed at the time of Tenant’s execution of this LeaseClosing; however, such a reconciliation will be completed prior to April 30, 2008 and Seller agrees to cooperate with Purchaser in connection with such post-Closing reconciliation. If any Rent payment date (including the Rent Commencement Date) falls on a day such reconciliation reveals that Seller has received Additional Rents in excess of the month other amount that tenants were required to pay, based on the actual expenses as of the Closing, then within thirty (30) days after the reconciliation is completed, Seller shall remit such excess amount(s) (the “Excess Amount”) to Purchaser and Purchaser shall promptly remit the applicable portion of such Excess Amount to the applicable tenant. In such event, Purchaser shall indemnify, protect and defend Seller and the Seller Indemnified Parties harmless from and against any Losses that Seller or any Seller Indemnified Party suffers or incurs as result of the failure of Purchaser to deliver the Excess Amount, received by Purchaser from Seller, to the applicable tenant(s); provided, however, that Purchaser’s liability with respect to this indemnity shall be capped at the sum of (1) amount of the Excess Amount received by Purchaser from Seller and not remitted to the applicable tenant(s) plus (2) reasonable attorneys’ fees. If, however, the reconciliation reveals that Seller has received Additional Rents that are less than the first day amount that tenants were required to pay based on the actual expenses as of the Closing (a “Tenant Deficiency”), then Purchaser shall deliver to Seller the amount of such month or if deficiency within thirty (30) days of the reconciliation pursuant to which the tenants’ payments of such deficient amounts are received by Purchaser. Without limitation of the foregoing, in the event there are any payment of Rent is Tenant Deficiencies, Purchaser covenants, for a period which not to exceed sixty (60) days after such Tenant Deficiency is shorter than one monthrealized, to xxxx the Rent applicable tenant(s) for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to deficient amounts. If, at the end of the Lease Term at a rate per applicable sixty (60) day which is equal period, such deficiency has not been paid by the tenant, then Seller shall have the right to 1/365 commence or pursue legal proceedings against the applicable tenant provided that (y) Seller shall commence such action within ninety (90) days after the expiration of the applicable annual Rentsixty (60) day period and (z) in no event shall Seller seek an eviction of such tenant or the termination of the underlying lease. All other payments or adjustments required to be made under the terms The provisions of this Lease that require proration on a time basis Section 14.5 shall be prorated on survive the same basis. Base Rent Closing and Additional Rent, as defined below, shall together be denominated “Rentthe delivery of any conveyance documentation.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (KBS Real Estate Investment Trust, Inc.)

Base Rent. 3.1 Beginning on The “minimum” or “base” rent payable by tenants under the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at Leases for the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during in which the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis Closing occurs shall be prorated on the same basisbasis of the number of days of such month prior to the Closing Date (which shall be allocated to Seller) and from and after the Closing Date (which shall be allocated to Purchaser). Base Rent and Additional RentHowever, there shall be no proration of any such rent which is delinquent as of the Closing Date. Rather, Purchaser shall cause any such delinquent rent for the period prior to Closing to be remitted to Seller if, as defined belowand when collected, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable subject to the Premises, or any other restriction on Tenant’s use, or priorities hereinafter set forth. All rents received by Seller (except as expressly rents received by Seller from a delinquent tenant against which Seller has commenced an action, which shall be applied against delinquent rents owed to Seller from such tenant) or Purchaser following the Closing Date shall be applied first to rents for the period following the Closing, second to rents for the month in which the Closing occurs, and third to delinquent rents for the period prior to the Closing. At Closing, Seller shall deliver to Purchaser a schedule of all such delinquent rent. Purchaser shall include the amount of delinquent rent in the bills submitted to the tenants in question after the Closing and shall use reasonable efforts to collect the same, provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.that Purchaser shall in no

Appears in 1 contract

Samples: Escrow Agreement (Retail Opportunity Investments Corp)

Base Rent. 3.1 Beginning Commencing on the Rent Lease Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office address set forth in Section 4.2 of the ProjectSummary, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writingby delivering written notice to Tenant at Tenant’s notice address as set forth herein, (i) by a check or wire transfer for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. It is intended that this Lease be a “triple net lease,” and that the Rent to be paid hereunder by Tenant will be received by Landlord without any deduction or offset whatsoever by Tenant, foreseeable or unforeseeable, except as otherwise expressly provided in this Lease. Except as expressly provided to the contrary in this Lease, Landlord shall not be required to make any expenditure, incur any obligation, or incur any liability of any kind whatsoever in connection with this Lease or the ownership, construction, maintenance, operation or repair of the Premises or the Project. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting Notwithstanding the foregoing, provided Tenant is not in Default under this Lease, Landlord hereby agrees to xxxxx Tenant’s obligation to pay Base Rent during the Base Rent Abatement Period (such total amount of abated Base Rent in the total amount of $1,111,347.90 (i.e., $74,089.86 per month for 15 months) being hereinafter referred to as the “Abated Base Rent”) (the Abated Base Rent, Abated Parking Charges [as defined in Section 8 of the Summary], Abated Fitness Center Charges [as defined in Section 29.39 below], Abated Conference Room Charges [as defined in Section 29.40 below], and Applied Allowance [as defined in the Tenant Work Letter] are collectively referred to herein as the “Abated Amount”). During the Base Rent Abatement Period, Tenant will still be responsible for the payment of all other monetary obligations under this Lease. Tenant acknowledges that any Default under this Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertain, therefore, should Tenant at any time during the Lease Term be in Default under this Lease, then the total unamortized sum of such Abated Amount (amortized on a straight line basis over of the last 120 months of the initial Lease Term) so conditionally excused shall not become immediately due and payable by Tenant to Landlord and any remaining Abated Amount shall no longer be discharged or otherwise affected by available to Tenant as a rent credit from the date of such Default. Tenant acknowledges and agrees that nothing in this Article 3 is intended to limit any other remedies available to Landlord at law or regulation now in equity under applicable Laws (including, without limitation, the remedies Under California Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or hereafter applicable similar laws) in the event of a Default under this Lease. Notwithstanding the foregoing, Landlord shall have the option to make a cash payment (the “Buyout Payment”) to Tenant in the amount of the then remaining Abated Base Rent due under the immediately preceding paragraph, and/or any unused Allowance which may be applied pursuant to Section 5(f) of the Tenant Work Letter (i.e., the Applied Allowance, subject to the PremisesOutside Allowance Date). Upon Landlord’s tender of such Buyout Payment, Tenant shall no longer be entitled to the Abated Base Rent and/or any available Applied Allowance. Landlord shall exercise its option to buy out the Abated Base Rent and/or Applied Allowance by delivering at least ten (10) days’ prior written notice thereof to Tenant, and shall make the Buyout Payment to Tenant on or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceabout the date set forth in such notice.

Appears in 1 contract

Samples: Office Lease (Xponential Fitness, Inc.)

Base Rent. 3.1 Beginning on the Rent Commencement Date, A. Tenant shall pay, without prior notice or demand, covenants and agrees to pay to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The deduction, except as otherwise expressly provided herein (including, without limitation, the Improvement Cost offset described below in Section 5.D.), 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 (including, without limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request), all of which hereinafter may be collectively called “Rent.” The Rent for each calendar year or portion thereof during the Lease Term, except as specifically offset herein, shall be due and payable in advance in monthly installments of the first full day of each calendar month of during the Lease Term shall be paid at the time of Tenant’s execution of this Leaseand any extensions or renewals hereof, and Tenant hereby agrees to pay such Rent to Landlord without demand. If any Rent payment date (including the Rent Commencement Date) falls Lease Term commences on a day of the month other than the first day of such a month or if any payment terminates on a day other than the last day of Rent is for a period which is shorter than one month, then the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end installments of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional RentRent for such month or months shall be prorated, as defined belowbased on the number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall together any endorsement or statement on any check or any letter accompanying any check or payment be denominated “Rent.” Without limiting deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the foregoing, balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be construed to be a waiver of Landlord’s right to declare a default for any other late payment. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s obligation covenant to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any independent of every other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceset forth in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Graymark Healthcare, Inc.)

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall paypay to Landlord, without prior notice or demandas rent for the Premises, to Landlord or Landlord’s agent at the management office of the Projectin advance, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each calendar month, commencing on the Commencement Date (but subject to the conditional Base Rent abatement referred to in Paragraph 1.10 above) and every calendar continuing throughout the Lease Term, the Base Rent set forth in Paragraph 1.10 above (and Paragraph 3.4 above, if applicable). Base Rent shall be prorated, based on thirty (30) days per month, for any partial month during the Lease Term. Base Rent shall be payable, except as otherwise expressly set forth in this Lease, without any setoff deduction, offset, prior notice or deduction whatsoever. The Base Rent for the first full month demand in lawful money of the Lease Term shall be paid United States to Landlord at the time address herein specified for purposes of notice or to such other persons or such other places as Landlord may designate in writing. Notwithstanding the foregoing, at Tenant’s execution of this Lease. If any Rent payment date request Landlord shall provide Landlord’s banking information (including the Rent Commencement Date“Landlord’s ACH Account Information”) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease so that require proration on a time basis shall be prorated on the same basis. Tenant can pay Base Rent and Additional Rent, Rent (as defined below) by Electronic Funds Transfer (EFT) as an Automated Clearing House (“ACH”) transaction. Any such ACH transfers shall be paid by Tenant, from Tenant’s account in a bank or financial institution designated by Tenant and credited to Landlord’s bank account as Landlord shall together have designated in Landlord’s ACH Account Information. Tenant shall not be denominated “Rent.” Without limiting the foregoing, in default of Tenant’s obligation to pay Base Rent and/or Additional Rent if and for so long as Tenant shall timely comply with ACH transfer requirements and accurately state Landlord’s ACH Account Information. However, if Tenant shall have timely complied with ACH transfer requirements, but the applicable funds shall thereafter have been misdirected or not accounted for properly by the recipient bank designated by Landlord, then Tenant shall reasonably cooperate with Landlord in an effort to recover the misdirected funds and the same shall not relieve Tenant’s obligation to make the payment so transferred (but Tenant shall not be discharged required to be out-of-pocket the applicable payment amount in a duplicate amount due to such misdirected payment or otherwise affected payment not accounted for properly by the recipient bank), but shall toll the due date for such payment until the applicable funds shall have been located and deposited in Landlord’s bank account. In the event that Landlord elects to designate a different bank or financial institution into which any law or regulation now or hereafter applicable ACH transfer is to be deposited, notification of such change and the required documents, instruments, authorizations, and any modified Landlord’s ACH Account Information, must be delivered to Tenant no later than 30 days prior to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord date such change is to perform any covenant contained herein, or any other occurrencebecome effective.

Appears in 1 contract

Samples: Improvement Agreement (Bloom Energy Corp)

Base Rent. 3.1 Beginning on Sublessee shall pay to Sublessor, each month during the Rent Commencement Date, Tenant shall payTerm, without prior notice or demand, to Landlord and without any set-off, counterclaim, abatement or Landlord’s agent at the management office of the Projectdeduction whatsoever, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable Rent in equal monthly installments as set forth in Section 4 of the Summary in advance installments, on or before the first day of each and every calendar month during the Lease Term, in lawful money of the United States of America, by check made payable to Sublessor, except the first full monthly installment of Base Rent shall be paid upon execution of this Sublease. All Base Rent, Additional Rent and other sums and charges due to Sublessor under this Sublease shall be paid by Sublessee at the office of Sublessor set forth above, or at such other place as Sublessor may designate, without any notice, setoff or deduction whatsoever. The Base Rent for If the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls commences on a day of the month other than the first day of such a calendar month or if any terminates on a day other than the last day of a calendar month, monthly Base Rent and Additional Rent for the applicable month shall be prorated based on the number of days in such calendar month. Sublessee’s obligation to make such payments accruing during the Term hereof shall survive the Expiration Date or sooner termination of this Sublease. In addition to Base Rent and Additional Rent required to be paid hereunder, Sublessee agrees to pay all invoices rendered by Underlying Landlord or Sublessor for charges incurred by Sublessor for services and materials or utilities supplied to the Sublet Premises that are requested by Sublessee or that are attributable to Sublessee’s particular manner of use (for example, Sublessee shall pay the prevailing rate for after-hours HVAC requested by or used by Sublessee) (the “Special Costs”). In the event of non-payment of Additional Rent is and/or Special Costs, Sublessor shall have all the rights and remedies provided for herein or the Underlying Lease in case of non-payment of Base Rent (or its equivalent term) in the Underlying Lease. If Sublessee shall fail to duly and timely pay any installment of Base Rent or Additional Rent and/or Special Costs, Sublessee shall also pay to Sublessor a period which is shorter than one monthlate charge(s) and interest charges due and payable from Sublessor to Underlying Landlord pursuant to the Underlying Lease, or, if no such charges are specified in the Rent for any fractional month Underlying Lease, Sublessee shall pay to Sublessor a late charge of five percent (5%) of such overdue amount and interest shall accrue on a daily basis for said overdue amount at the period rate of twelve percent (12%) per annum (or such maximum rate allowable by law) from the date such payment was due until same is due paid, such interest and/or late charge to the end be payable as Additional Rent hereunder. The payment of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis late charge and interest shall be prorated on in addition to all other rights and remedies available to Sublessor in the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rentcase of non-payment of all such amounts hereunder.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Sublease Agreement (Oncocyte Corp)

Base Rent. 3.1 Beginning Tenant shall pay monthly Base Rent in the amounts set forth on the first page of this Lease. The Prepaid Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 the Basic Lease Provisions above) shall be due and payable upon Tenant's execution and delivery of the Summarythis Lease (and shall be applied against Base Rent and Operating Expenses first coming due under this Lease). Tenant promises to pay to Landlord in advance, payable in equal monthly installments without demand, deduction or set-off (except as otherwise expressly set forth in Section 4 this Lease), monthly installments of the Summary in advance Base Rent on or before the first day of each and every calendar month during succeeding the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day . Payments of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Base Rent for any fractional calendar month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rentbe prorated. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis by Tenant to Landlord hereunder shall be prorated on the same basispayable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and Additional Rentother sums to Landlord and the obligations of Landlord under this Lease are independent obligations and shall constitute rent. Tenant shall have no right at any time to xxxxx, as defined belowreduce, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent or set- off any rent due hereunder except where expressly provided in this Lease and shall not be discharged or otherwise affected by excused from paying any law or regulation now or hereafter applicable to the Premisesrent due hereunder for any reason whatsoever, or any other restriction on Tenant’s use, or (except as expressly provided herein) set forth to the contrary in this Lease. Tenant acknowledges that late payment by Tenant to Landlord of any casualty or taking, or any failure by rent due hereunder will cause Landlord to perform incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any covenant contained hereinmonthly installment of Base Rent, estimated Operating Expenses or other sums due and payable hereunder for more than five (5) days, Tenant shall pay to Landlord within thirty (30) days after receipt of written demand a late charge equal to five percent (5%) of such delinquent sum; provided, however, that no late charge shall be imposed with respect to the first (1st) late payment of rent in any twelve (12)- month period unless such failure shall continue for more than five (5) business days after notice from Landlord. The parties agree that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of such late payment by Tenant. The late charge shall be deemed to be rent, and the right to require it shall be in addition to all of Landlord's other occurrencerights and remedies for a payment failure of Tenant, including the right to charge interest on the past due amount.

Appears in 1 contract

Samples: Lease Agreement (Bloom Energy Corp)

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s 's agent at the management office address set forth in Section 4.2 of the ProjectSummary, or, at Landlord’s 's option, at such other place as Landlord may from time to time designate in advance and in writingby delivering written notice to Tenant at Tenant's notice address as set forth herein, (i) by a check or wire transfer for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent ("Base Rent") as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s 's execution of this Lease. If any Rent payment date (including the Rent Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 1/360 of the applicable annual Rent. It is intended that this Lease be a "triple net lease," and that the Rent to be paid hereunder by Tenant will be received by Landlord without any deduction or offset whatsoever by Tenant, foreseeable or unforeseeable. Except as expressly provided to the contrary in this Lease, Landlord shall not be required to make any expenditure, incur any obligation, or incur any liability of any kind whatsoever in connection with this Lease or the ownership, construction, maintenance, operation or repair of the Premises, Building or Project. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Office Lease (Collectors Universe Inc)

Base Rent. 3.1 Beginning on Purchaser will receive a credit at Closing for the Rent Commencement Date, Tenant shall pay, without prior notice prorated amount of all base or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer fixed rent payable pursuant to the account of Landlord as provided to TenantLeases and all Additional Rents (collectively, base rent (Base Rent”) as set forth in Section 4 of previously paid to, or collected by, Seller and attributable to any period following the SummaryClosing Date. Rents are “Delinquent” when they were due prior to the Closing Date, payable in equal monthly installments as set forth in Section 4 of the Summary in advance and payment thereof has not been made on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoeverClosing Date. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Delinquent Rent shall not be discharged prorated at Closing. All Rent collected by Purchaser or otherwise affected Seller from each tenant from and after Closing will be applied as follows: (i) first, to any accrued Rents owing to Purchaser, (ii) second, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any law tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or regulation now pursue any legal proceedings; and (ii) shall not be permitted to commence or hereafter applicable to pursue any legal proceedings against any tenant seeking eviction of such tenant or the Premisestermination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from or paid by tenants including, or without limitation, operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other restriction on Tenant’s usetenant charges that are paid by the tenant(s) to Seller, or as landlord, as opposed to charges (except as expressly provided hereine.g. utility) that the tenant(s) pays directly to third parties. The provisions of this Section 15.5 shall survive the Closing and the delivery of any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceconveyance documentation.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Plymouth Industrial REIT Inc.)

Base Rent. 3.1 Beginning on Pre-Conversion Base Rent and/or Post-Conversion Base Rent, as the Rent Commencement Date, Tenant shall pay, without prior notice context xxxxxxx.XXXXXXXX DAY: Any day which is not a Saturday or demand, to Landlord Sunday or Landlord’s agent at a public holiday under the management office laws of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, the Commonwealth of Massachusetts, the State or the state in which Lessor's depository bank is located. CAPITAL ADDITIONS: Collectively, all new buildings and additional structures annexed to any portion of any of the Leased Improvements and material expansions of any of the Leased Improvements which are constructed on any portion of the Land during the Term, including, without limitation, the construction of a new wing or new story, the renovation of any of the Leased Improvements on the Leased Property and any expansion, construction, renovation or conversion in connection therewith (a) in order to provide a functionally new facility that is needed or used to provide services not previously offered or (b) in order to (i) increase the bed capacity of a Facility, (ii) if so elected change the purpose for which such beds are utilized and/or (iii) change the utilization of any material portion of any of the Leased Improvements, provided that for the purposes of Article 9 hereof, the Project shall not be treated as a Capital Addition. CAPITAL ADDITION COST: The cost of any Capital Addition made by TenantLessee whether paid for by Lessee or Lessor. Such cost shall include all costs and expenses of every nature whatsoever incurred directly or indirectly in connection with the development, by electronic funds transfer permitting, construction and financing of a Capital Addition as reasonably determined by, or to the account of Landlord as provided to Tenantreasonable satisfaction of, base rent Lessor. CASH COLLATERAL: As defined in the Deposit Pledge Agreement. CASH FLOW: The Consolidated Net Income (“Base Rent”or Consolidated Net Loss) as set forth in Section 4 before federal and state income taxes for any period plus (i) the amount of the Summary, payable in equal monthly installments as set forth in Section 4 provision for depreciation and amortization actually deducted on the books of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent applicable Person for the first full month purposes of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date computing such Consolidated Net Income (including the Rent Commencement Dateor Consolidated Net Loss) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment involved, plus (ii) Rent and interest on all other Indebtedness which is due fully subordinated to the end of such calendar month or Lease Obligations, plus (iii) any indebtedness which is fully subordinated to the end Lease Obligations pursuant to the Affiliated Party Subordination Agreement or the Management Subordination Agreement. CASUALTY: As defined in Section I 3.1. CHATTEL PAPER: As defined in the UCC. CLOSING: As defined in Section 18.3.6. CODE: The Internal Revenue Code of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent1986, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.amended. 5

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

Base Rent. 3.1 Beginning on Buyer will receive a credit at Closing for the Rent Commencement prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller or Selling Subsidiary and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, Tenant and payment thereof has not been made on or before the Closing Date. Delinquent Rents shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office be identified as of the Project, or, at Landlord’s option, at such other place Closing Date. All Rent collected by Buyer or Seller from each Tenant from and after Closing will be applied as Landlord may from time to time designate in advance and in writing, follows: (i) by a check first, to Delinquent Rent owed for currency whichthe month in which the Closing Date occurs (the “Closing Month”), at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected second, to any accrued Rents owing to Buyer, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Buyer and due Seller or Selling Subsidiary will be remitted to Seller monthly. Any Rent collected by Seller or Selling Subsidiary and due Buyer shall be promptly remitted to Buyer. Buyer shall use reasonable efforts to collect Delinquent Rents more than thirty (30) days past billing owed to Seller or Selling Subsidiary in the ordinary course of its business (which shall not include any obligation to pursue eviction or other legal remedies against Tenant) for a period of ninety (90) days. Notwithstanding anything to the contrary contained herein, Seller reserves all claims and causes of action against Tenants who owe Delinquent Rents more than thirty (30) days past billing and Seller may commence and prosecute a contract action against Tenants after Closing to collect such Delinquent Rents more than thirty (30) days past billing, provided no such action shall seek termination of the Lease, eviction of a Tenant, by electronic funds transfer or any levy against a Tenant’s interest in its Lease and no such action shall be commenced sooner than ninety (90) days after the Closing Date. “Additional Rents” shall mean any and all amounts due from Tenants for operating expenses, common area maintenance charges, Real Estate Taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other Tenant charges. Buyer shall receive a credit for the prorated portion of the Buyer’s Commissions attributable to the account period of Landlord time between the Effective Date and the Closing Date as provided to Tenant, base rent (“Base Rent”) as more particularly set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent7.2.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Real Estate Sales Contract (Silver Bay Realty Trust Corp.)

Base Rent. 3.1 Beginning on Purchaser will receive a credit at Closing for the Rent Commencement Date, Tenant shall pay, without prior notice prorated amount of all base or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer fixed rent payable pursuant to the account of Landlord as provided to TenantLeases and all Additional Rents (collectively, base rent (Base Rent”) as set forth in Section 4 of previously paid to, or collected by, Seller and attributable to any period following the SummaryClosing Date. Rents are “Delinquent” when they were due prior to the Closing Date, payable in equal monthly installments as set forth in Section 4 of the Summary in advance and payment thereof has not been made on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoeverClosing Date. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Delinquent Rent shall not be discharged prorated at Closing. All Rent collected by Purchaser or otherwise affected Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any law tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or regulation now pursue any legal proceedings; and (ii) shall not be permitted to commence or hereafter applicable to pursue any legal proceedings against any tenant seeking eviction of such tenant or the Premisestermination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for Agreement of Purchase and Sale — 1000 Xxxxxxxx Xxxxxx Xxxxx Xx. Prospect IL(7) operating expenses, or common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other restriction on Tenant’s use, or (except as expressly provided herein) tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceconveyance documentation.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Northfield Laboratories Inc /De/)

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Base Rent. 3.1 Prior to May 1, 2006, Tenant shall pay the rent to Landlord as was due under its sublease, pursuant to Article III, Paragraph 4 of this Lease. Beginning on May 1, 2006 (the “Rent Commencement Date”) and continuing thereafter through the term of the Lease, Tenant shall pay Base Rent for the Demised Premises in equal monthly installments payable in advance. The first monthly payment of Base Rent shall be made upon the Rent Commencement Date, Tenant and the second and subsequent monthly payments shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance be made on or before the first day of each and every calendar month thereafter during the Lease TermTerm hereof. Such payment shall be made at the office of FCS Building Association, 0000 Xxxx Xxxxxx Xxxxx, XxXxxx, Xxxxxxxx 00000, or to such other party or to such other address as Landlord may designate from time to time by written notice to Tenant. Such payment shall be made without any setoff demand, notice, or deduction whatsoeverinvoice and without deduction, set-off, or counterclaim. The All costs and expenses in addition to the Base Rent for that Tenant assumes or agrees to pay Landlord pursuant to this Lease shall be deemed to be additional rent. Base Rent and additional rent are sometimes referred to collectively herein as “rent”. If Landlord shall at any time or times accept said rent after it shall become due and payable, such acceptance shall not excuse delay upon any subsequent occasion, or constitute, or be construed as, a waiver of any or all of Landlord’s rights hereunder. Rent shall be made payable to FCS Building Association or to such other persons, firm, or corporation as Landlord may designate in writing. If the Term of this Lease begins on a date other than on the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment a month, then rent from such date (including the Rent Commencement Date) falls on a day of the month other than until the first day of such the following month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on at the same basis. rate of one-thirtieth (1/30th) of the monthly Base Rent and Additional Rent, as defined below, shall together be denominated “Rentfor each day payable in advance.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Lease (Global Defense Technology & Systems, Inc.)

Base Rent. 3.1 Beginning on Purchaser will receive a credit at Closing for the Rent Commencement Date, Tenant shall pay, without prior notice prorated amount of all base or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer fixed rent payable pursuant to the account of Landlord as provided to TenantLeases and all Additional Rents (collectively, base rent (Base Rent”) as set forth in Section 4 of previously paid to, or collected by, Seller and attributable to any period following the SummaryClosing Date. Rents are “Delinquent” when they were due prior to the Closing Date, payable in equal monthly installments as set forth in Section 4 of the Summary in advance and payment thereof has not been made on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoeverClosing Date. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Delinquent Rent shall not be discharged prorated at Closing. All Rent collected by Purchaser or otherwise affected Seller from each tenant from and after Closing will be applied as follows: (i) first, to any accrued Rents owing to Purchaser, (ii) second, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any law tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or regulation now pursue any legal proceedings; and (ii) shall not be permitted to commence or hereafter applicable to pursue any legal proceedings against any tenant seeking eviction of such tenant or the Premisestermination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from or paid by tenants including, or without limitation, operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other restriction on Tenant’s usetenant charges that are paid by the tenant(s) to Seller, or as landlord, as opposed to charges (except as expressly provided hereine.g. utility) that the tenant(s) pays directly to third parties. The provisions of this Section 15.5 shall survive the Closing and the delivery of any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceconveyance documentation.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Plymouth Industrial REIT Inc.)

Base Rent. 3.1 Beginning During the Lease Term, Tenant will pay to Landlord in lawful United States Currency as the base rent for the Premises ("Base Rent") the amounts set forth in the BLI Rider, beginning on the Rent Commencement Date, Tenant shall pay, Date with same being payable without prior notice or demand, to Landlord setoff or Landlord’s agent at the management office of the Projectdeduction, orin advance, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each month, in equal monthly installments of the amounts set forth in the BLI Rider plus applicable sales and every calendar month other such taxes as are now or later enacted. All payments of Base Rent, Overhead Rent, (and Security Deposits if subsequently applicable during the Lease Term), and any other sums due from Tenant under this Lease shall be made by automated clearing house transfer to such account as may be designated (or re-designated from time to time) by Landlord's written notice. Tenant shall deliver to Landlord any documents, instrument, authorizations or certificates required by Landlord to give effect to an automated debiting system whereby any and all payments by Tenant of Rent shall be debited monthly from Tenant's account in a bank or financial institution designated by Tenant and credited to Landlord's bank account as Landlord shall designate from time to time by written notice. Tenant shall promptly pay all service fees and other charges connected therewith, including, without limitation, any setoff charges resulting from insufficient funds in Tenant's bank account or deduction whatsoeverany charges imposed upon Landlord. The Base In the event that Tenant elects to designate a different bank or financial institution from which any Rent for the first full month of under the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day is automatically debited, notification of such month or if any payment of Rent is for a period which is shorter change and required documents, instruments, authorizations and certificates must be received by Landlord not later than one month, the Rent for any fractional month shall accrue on a daily basis for the period from thirty (30) days prior to the date such payment change is due to become effective. Tenant agrees that it shall remain responsible to Landlord for all payments of Rent and any other charges pursuant to this Lease, even if Tenant's bank account is incorrectly debited in any given month. Such Rent shall be immediately payable to Landlord upon written demand and any failure to so pay subject to the end grace provisions set forth in Section 3 shall constitute an Event of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “RentDefault.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Occupancy Agreement (DBT Online Inc)

Base Rent. 3.1 Prior to May 1, 2006, Tenant shall pay the rent to Landlord as was due under its sublease, pursuant to Article III, Paragraph 4 of this Lease. Beginning on May 1, 2006 (the “Rent Commencement Date”) and continuing thereafter through the term of the Lease, Tenant shall pay Base Rent for the Demised Premises in equal monthly installments payable in advance. The first monthly payment of Base Rent shall be made upon the Rent Commencement Date, Tenant and the second and subsequent monthly payments shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance be made on or before the first day of each and every calendar month thereafter during the Lease TermTerm hereof. Such payment shall be made at the office of FCS Building Association, 0000 Xxxx Xxxxxx Xxxxx, XxXxxx, Virginia 22101, or to such other party or to such other address as Landlord may designate from time to time by written notice to Tenant. Such payment shall be made without any setoff demand, notice, or deduction whatsoeverinvoice and without deduction, set-off, or counterclaim. The All costs and expenses in addition to the Base Rent for that Tenant assumes or agrees to pay Landlord pursuant to this Lease shall be deemed to be additional rent. Base Rent and additional rent are sometimes referred to collectively herein as “rent”. If Landlord shall at any time or times accept said rent after it shall become due and payable, such acceptance shall not excuse delay upon any subsequent occasion, or constitute, or be construed as, a waiver of any or all of Landlord’s rights hereunder. Rent shall be made payable to FCS Building Association or to such other persons, firm, or corporation as Landlord may designate in writing. If the Term of this Lease begins on a date other than on the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment a month, then rent from such date (including the Rent Commencement Date) falls on a day of the month other than until the first day of such the following month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on at the same basis. rate of one-thirtieth (1/30th) of the monthly Base Rent and Additional Rent, as defined below, shall together be denominated “Rentfor each day payable in advance.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Lease (Global Defense Technology & Systems, Inc.)

Base Rent. 3.1 Beginning on Buyer will receive a credit at Closing for the Rent Commencement Date, Tenant shall pay, without prior notice prorated amount of all base or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer fixed rent payable pursuant to the account of Landlord as provided to TenantLeases and all Additional Rents (collectively, base rent (Base Rent”) as set forth in Section 4 of previously paid to, or collected by, Seller and attributable to any period following the SummaryClosing Date. Rents are “Delinquent” when they were due prior to the Closing Date, payable in equal monthly installments as set forth in Section 4 of the Summary in advance and payment thereof has not been made on or before the first day of Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Buyer or Seller from each Tenant from and every calendar month during the Lease Termafter Closing will be applied as follows: (i) first, without any setoff or deduction whatsoever. The Base to Delinquent Rent owed for the first full month in which the Closing Date occurs (the “Closing Month”) attributable to Buyer’s period of ownership, (ii) second, to any accrued Rents owing to Buyer, and (iii) third, to Delinquent Rents owing to Seller for the Lease Term period prior to Closing. Any Rent collected by Buyer and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Buyer shall be paid at the time of Tenant’s execution of this Leasepromptly remitted to Buyer. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is Buyer shall use reasonable efforts for a period which is shorter than one monthof three (3) months to collect Delinquent Rents owed to Seller in the ordinary course of its business, provided that Buyer shall in no event be obligated to initiate eviction or litigation proceedings. “Additional Rents” shall mean any and all amounts due from Tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other Tenant charges. At least five (5) days prior to the Closing Date, Seller shall provide Buyer with a reasonably detailed reconciliation for each Tenant showing all common area maintenance charges, property taxes, insurance and other operating cost pass-throughs payable by Tenants (collectively, the Rent for any fractional month shall accrue on a daily basis for the period “Operating Expenses”) incurred by Seller from the date beginning of the then-current calendar year (and if the prior calendar year has not been prorated, also for said prior year) (or, if different, such payment is due Tenants’ then-current annual billing period for Operating Expenses, and if the prior period has not been prorated, also for said prior period) through the Closing Date, and any Operating Expense estimates or charges collected by Seller during the same period of time and relating to such Tenant, all in the form customarily submitted to each Tenant (the “CAM Reconciliation”). To the extent that Seller has received as of the Closing any monthly or periodic payments of Operating Expenses allocable to periods subsequent to Closing, the same shall be prorated and Buyer shall receive a credit therefor at the Closing. With respect to any monthly or periodic payments of Operating Expenses received by Buyer after the Closing allocable to Seller prior to Closing, Buyer shall promptly pay the same to Seller (subject to the end of provisions above relating to Delinquent Rent). Notwithstanding the foregoing, to the extent that the CAM Reconciliation reveals that Seller has over-collected Operating Expenses from any Tenant such calendar month or to that, if the end of the Lease Term operating expense year under -15- the Leases was the Closing Date, Seller would be obligated to refund money to such Tenant (an “Over Collection”), rather than collect additional money from such Tenant (an “Under Collection”), said Over Collection shall be paid by Seller to Buyer at the Closing as a rate per day which is equal to 1/365 settlement statement credit; provided, in the event of an Under Collection, the amount of the Under Collection shall be paid by Buyer to Seller outside of escrow within 5 Business Days after receipt from the applicable annual RentTenant in connection with the year-end Operating Expense reconciliation process. All other payments or adjustments required to be made under the terms The provisions of this Lease that require proration on a time basis Section 10.3 shall be prorated on survive the same basis. Base Rent Closing and Additional Rent, as defined below, shall together be denominated “Rentthe delivery of any conveyance documentation.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Real Estate Sales Contract and Escrow Instructions

Base Rent. 3.1 Beginning on Tenant hereby covenants and agrees to pay Base Rent of $37,152.00 per month for each and every month during the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate Term payable in advance commencing on February 1, 1995 and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance continuing on or before the first day of each and every calendar month during the Lease TermTerm in lawful United States currency, without together with any setoff and all sales or deduction whatsoeveruse taxes levied upon the use or occupancy of the Leased Premises and any rent or other charges payable hereunder. The Base Rent for the first full month of the Lease Term shall be paid without set off or deduction to Landlord at its address above or such other address as Landlord directs in writing. To defray the time additional expenses involved in collecting and handling delinquent payments, if any, Base Rent or other payment due under this Lease is not received by Landlord within ten (10) days of the due date of such payment, Tenant shall pay in addition to such payment a late charge equal to 10% of the payment which is past due. Tenant acknowledges that this charge is made to compensate Landlord for additional costs incurred by Landlord as a result of Tenant’s execution of this Lease. If any Rent 's failure to pay when due, and is not a payment date (including for the Rent Commencement Date) falls on a day extension of the month other than rent due date. Landlord's failure to insist upon the first day of such month or if any payment of Rent is for the late charge shall not be deemed a period which is shorter than one month, the Rent waiver of Landlord's right to collect such late charge for any fractional month shall accrue on a daily basis for the period from the date such payment is due future delinquencies. Notwithstanding anything in this Lease to the end contrary, provided that no Default shall have occurred with respect to Tenant's obligations hereunder, Tenant shall be entitled to an abatement of all Base Rent (but not Additional Rent [as herein defined]) during the Term. In the event of any Default hereunder at any time during the Term, Tenant shall automatically be and become liable for payment of all Base Rent and, without limiting Landlord's right to exercise any remedy or remedies to which Landlord is entitled hereunder in the event of a Default, Tenant shall pay all such calendar month or to Base Rent theretofore and thereafter accruing during the end Term upon Landlord's demand. Except for such abatement of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Base Rent. All , all other payments or adjustments required to be made under the terms and conditions of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent in full force and Additional Renteffect, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, including without limitation Tenant’s obligation 's obligations to pay all Additional Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrencehereunder.

Appears in 1 contract

Samples: Space Lease Agreement (Excal Enterprises Inc)

Base Rent. 3.1 Beginning (a) Commencing on the Rent Commencement Date, but subject to the Base Rent Credit (as defined in Paragraph 4(b) below), and any credit under Paragraph 1(b) above, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts pay Base Rent in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as amounts set forth in Section 4 of the SummaryBasic Lease Provisions, payable in equal monthly installments advance, without demand, deduction or set-off, except as otherwise expressly set forth in Section 4 of the Summary in advance this Lease, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoevermonth. The Prepaid Rent (as set forth in the Basic Lease Provisions above) shall be due and payable on the date hereof (and shall be applied against Base Rent for the and Operating Expenses first full month of the Lease Term shall be paid at the time of Tenant’s execution of due under this Lease). If any Payments of Base Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent and Operating Expenses for any fractional calendar month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rentbe prorated. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis by Tenant to Landlord hereunder shall be prorated on the same basispayable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and Additional Rentother sums to Landlord shall constitute rent and shall be independent obligations from the obligations of Landlord under this Lease. Tenant shall have no right at any time to xxxxx, as defined belowreduce, or set-off any rent due hereunder except where expressly provided to the contrary in this Lease. Tenant acknowledges that late payment by Tenant to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any monthly installment of Base Rent or any monthly estimated Operating Expenses or any other sums due and payable hereunder for more than five (5) business days after the date such amount is due, Tenant shall together be denominated “Rent.” Without limiting pay to Landlord on demand a late charge equal to five percent (5%) of such delinquent sum; provided, that for the foregoingfirst such instance of delinquency in any calendar year, Tenant’s obligation to pay Rent such late charge shall not be discharged or otherwise affected due unless the same shall be delinquent for at least five (5) business days after receipt by any law or regulation now or hereafter applicable Tenant of written notice of delinquency from Landlord. The parties agree that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of such late payment by Tenant. The late charge shall be deemed to be rent, and the Premisesright to require it shall be in addition to all of Landlord's other rights and remedies for a payment failure of Tenant, or any other restriction including without limitation the right to charge interest on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrencethe past due amount.

Appears in 1 contract

Samples: Lease Agreement (Allogene Therapeutics, Inc.)

Base Rent. 3.1 Beginning on Buyer will receive a credit at Closing for the Rent Commencement Date, Tenant shall pay, without prior notice prorated amount of all base or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer fixed rent payable pursuant to the account of Landlord as provided to TenantLeases and all Additional Rents (collectively, base rent (Base Rent”) as set forth in Section 4 of previously paid to, or collected by, Seller and attributable to any period following the SummaryClosing Date. Rents are “Delinquent” when they were due prior to the Closing Date, payable in equal monthly installments as set forth in Section 4 of the Summary in advance and payment thereof has not been made on or before the first day of Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Buyer or Seller from each Tenant from and every calendar month during the Lease Termafter Closing will be applied as follows: (i) first, without any setoff or deduction whatsoever. The Base to Delinquent Rent owed for the first full month in which the Closing Date occurs (the “Closing Month”) attributable to Buyer’s period of ownership, (ii) second, to any accrued Rents owing to Buyer, and (iii) third, to Delinquent Rents owing to Seller for the Lease Term period prior to Closing. Any Rent collected by Buyer and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Buyer shall be paid at the time of Tenant’s execution of this Leasepromptly remitted to Buyer. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is Buyer shall use reasonable efforts for a period which is shorter than one monthof three (3) months to collect Delinquent Rents owed to Seller in the ordinary course of its business, provided that Buyer shall in no event be obligated to initiate eviction or litigation proceedings. “Additional Rents” shall mean any and all amounts due from Tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other Tenant charges. At least five (5) days prior to the Closing Date, Seller shall provide Buyer with a reasonably detailed reconciliation for each Tenant showing all common area maintenance charges, property taxes, insurance and other operating cost pass-throughs payable by Tenants (collectively, the Rent for any fractional month shall accrue on a daily basis for the period “Operating Expenses”) incurred by Seller from the date beginning of the then-current calendar year (and if the prior calendar year has not been prorated, also for said prior year) (or, if different, such payment is due Tenants’ then-current annual billing period for Operating Expenses, and if the prior period has not been prorated, also for said prior period) through the Closing Date, and any Operating Expense estimates or charges collected by Seller during the same period of time and relating to such Tenant, all in the form customarily submitted to each Tenant (the “CAM Reconciliation”). To the extent that Seller has received as of the Closing any monthly or periodic payments of Operating Expenses allocable to periods subsequent to Closing, the same shall be prorated and Buyer shall receive a credit therefor at the Closing. With respect to any monthly or periodic payments of Operating Expenses received by Buyer after the Closing allocable to Seller prior to Closing, Buyer shall promptly pay the same to Seller (subject to the end of provisions above relating to Delinquent Rent). Notwithstanding the foregoing, to the extent that the CAM Reconciliation reveals that Seller has over-collected Operating Expenses from any Tenant such calendar month or to that, if the end of the Lease Term operating expense year under the Leases was the Closing Date, Seller would be obligated to refund money to such Tenant (an “Over Collection”), rather than collect additional money from such Tenant (an “Under Collection”), said Over Collection shall be paid by Seller to Buyer at the Closing as a rate per day which is equal to 1/365 settlement statement credit; provided, in the event of an Under Collection, the amount of the Under Collection shall be paid by Buyer to Seller outside of escrow within 5 Business Days after receipt from the applicable annual RentTenant in connection with the year-end Operating Expense reconciliation process. All other payments or adjustments required to be made under the terms The provisions of this Lease that require proration on a time basis Section 10.3 shall be prorated on survive the same basis. Base Rent Closing and Additional Rent, as defined below, shall together be denominated “Rentthe delivery of any conveyance documentation.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Real Estate Sales Contract and Escrow Instructions (Industrial Income Trust Inc.)

Base Rent. 3.1 Beginning on (a) From and after the Rent Commencement mutual execution of this Amendment until the Existing Termination Date, and in addition to all other charges payable under the Lease, Tenant shall pay, without prior notice or demand, continue to Landlord or Landlord’s agent at pay the management office Monthly Rent with respect to the Premises in accordance with the terms and provisions of the ProjectExisting Lease, orexcept that provided there is no Event of Default by Tenant existing under the Lease at any time before or during the “Waiver Period” (as hereinafter defined), at Landlord’s option, at such other place as the monthly installments of Monthly Rent due under the Lease is hereby waived by Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Waived Rent”) as set forth in Section 4 of for the Summaryfirst three (3) full calendar months commencing on the Effective Date or, payable in equal monthly installments as set forth in Section 4 of if the Summary in advance on or before Effective Date is not the first day of each and every a calendar month during the Lease Termmonth, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day the month immediately following the Effective Date (“Waiver Period”). This waiver shall not affect Tenant’s obligation to pay Tenant’s Electrical Charge, Tenant’s Share of such month increases in Operating Expenses and Tax Expense, or if any payment other amounts payable by Tenant under the Lease. Commencing on the first day following the expiration of the Waiver Period. Tenant shall re-commence paying the Monthly Rent due under the Existing Lease. Notwithstanding the foregoing, in the event the Lease is for a period which is shorter than one monthterminated prior to the expiration of the Extended Term due to an Event of Default by Tenant, Tenant shall, in addition to any and all other amounts payable by Tenant pursuant to the Lease, repay the entire amount of Waived Rent for any fractional month shall accrue on a daily basis for the period to Landlord, together with interest at ten percent (10%) per annum, accruing from the date such payment is would have been due to through the end date of repayment of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rentamount by Tenant.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Office Lease (Lionbridge Technologies Inc /De/)

Base Rent. 3.1 Beginning Tenant shall pay Base Rent in the amount set forth on Page 1 of this Lease. The first month’s Base Rent, the Security Deposit, and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and such Base Rent Commencement Date, and Operating Expenses payments shall be applied to the first full month’s rental due after the expiration of the free rent period set forth in Addendum One. Tenant shall paypromises to pay to Landlord in advance, without prior notice or demand, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month succeeding the Commencement Date in accordance with the rent scheduled set forth in Addendum One. Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder (or Landlord’s agent at the management office to such other party as Landlord may from time to time specify in writing) shall be made by check or by Electronic Fund Transfer (“EFT”) of the Projectimmediately available federal funds before 11:00 a.m., or, at Landlord’s option, Pacific Time at such other place place, within the continental United States, as Landlord may from time to time designate in advance and to Tenant in writing. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Except as expressly provided in this Lease, Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum, provided the first late charge in any 12 month period shall be waived by Landlord. The provision for such late charge shall be in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not be construed as a penalty. Notwithstanding the foregoing, the parties anticipate that Landlord will be able to Substantially Complete certain portions of the Warehouse Initial Improvements in phases (ithe “Phased Space”) by for delivery to Tenant in such a check for currency which, at condition that Tenant can commence business operations within such Phased Space and prior to the time completion of payment, is legal tender for private or public debts the Office Initial Improvements. Plans depicting each Phased Space of the Warehouse Space are attached hereto as Exhibits A-1 and A-2. Tenant shall be permitted to attend all weekly project meetings and Landlord shall use commercially reasonable efforts to advise Tenant of a change in the United States regular schedule of Americathe same. At least five (5) business days prior to delivery of any such Phased Space Landlord shall notify Tenant in writing of Landlord’s intention to deliver such Phased Space. Upon delivery of the Phased Space Tenant shall pay Base Rent and Operating Expenses on a proportionate basis for such Phased Space, or (ii) if so elected by Tenant, by electronic funds transfer using the Base Rent amount of $[***] per square foot per month and prorated Operating Expenses applicable to such Phased Space. During any such phased occupancy of Phased Space prior to the account Commencement Date Tenant shall be bound by its obligations under the Lease, including the obligation to provide evidence of Landlord as provided insurance. The delivery of any Phased Space, and Tenant’s acceptance of any Phased Space, shall not affect the Commencement Date, which shall not be deemed to Tenant, base rent (“Base Rent”) as set forth in Section 4 occur until Substantial Completion of the SummaryWarehouse Initial Improvements (as defined in Addendum 5), payable in equal monthly installments as set forth in Section 4 excluding the Building Upgrades. Upon Substantial Completion of the Summary in advance on or before Warehouse Initial Improvements, the first day Commencement Date shall be deemed to occur and Tenant shall commence payment of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month Warehouse Space in accordance with the Base Rent schedule set forth in Addendum 1. Tenant’s obligation to commence payment of Base Rent with respect to the Office Space shall commence upon Substantial Completion of the Lease Term Office Initial Improvements (and the free rent period applicable to the Office Space shall also commence on such Substantial Completion such that Tenant will receive the full value of the Base Rent abatement (which variable amount depending on Tenant’s closing on Series E funding is shown on Addendum 1), subject to Tenant’s funding pursuant to Addendum 1, where it shall be paid at the time of offset against Tenant’s execution Base Rent obligation as it becomes due upon delivery of this Lease. If any the Premises), Notwithstanding anything to the contrary herein, Substantial Completion of the Creative Space Improvements and the Building Upgrades (as each term is defined in Addendum 5) is not a condition for the obligation to commence payment of Base Rent payment date (including and Operating Expenses, and Tenant acknowledges that the Rent Creative Space Improvements and the Building Upgrades will not be Substantially Completed prior to the Commencement Date) falls on a day , and shall not affect the Term of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basisLease. Base Rent and Additional RentOperating Expense obligations for the portion of the Warehouse Space that includes the Creative Space Improvements shall commence as soon as the Office Initial Improvements have been Substantially Completed, as defined below, shall together be denominated “Rentregardless of whether the Creative Space Improvements and Building Upgrades are Substantially Complete.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Lease Agreement (TheRealReal, Inc.)

Base Rent. 3.1 Beginning (a) Tenant shall pay monthly Base Rent in the amounts set forth on the first page of this Lease. The Prepaid Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 the Basic Lease Provisions above) shall be due and payable upon Tenant's execution and delivery of the Summarythis Lease (and shall be applied against Base Rent and Operating Expenses first coming due under this Lease). Tenant promises to pay to Landlord in advance, payable in equal without demand, deduction or set-off, monthly installments as set forth in Section 4 of the Summary in advance Base Rent on or before the first day of each and every calendar month during succeeding the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day . Payments of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Base Rent for any fractional calendar month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rentbe prorated. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis by Tenant to Landlord hereunder shall be prorated on payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith; provided, however, Tenant shall have the same basisright to pay rent electronically pursuant to Landlord’s ACH procedures. The obligation of Tenant to pay Base Rent and Additional Rentother sums to Landlord and the obligations of Landlord under this Lease are independent obligations and shall constitute rent. Tenant shall have no right at any time to xxxxx, as defined belowreduce, shall together be denominated “Rent.” Without limiting the foregoingor set-off any rent due hereunder except where expressly provided in this Lease, Tenant’s obligation to pay Rent and shall not be discharged or otherwise affected by excused from paying any law or regulation now or hereafter applicable to the Premisesrent due hereunder for any reason whatsoever, or any other restriction on Tenant’s use, or (except as expressly provided herein) set forth to the contrary in this Lease. Tenant acknowledges that late payment by Tenant to Landlord of any casualty or taking, or any failure by rent due hereunder will cause Landlord to perform incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any covenant contained hereinmonthly installment of Base Rent, estimated Operating Expenses or any other occurrencesums due and payable hereunder for more than [***] ([***]) days, Tenant shall pay to Landlord on demand a late charge equal to [***] percent ([***]%) of such delinquent sum. The parties agree that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of such late payment by Tenant. The late charge shall be deemed to be rent, and the right to require it shall be in addition to all of Landlord's other rights and remedies for a payment failure of Tenant, including the right to charge interest on the past due amount.

Appears in 1 contract

Samples: Lease Agreement (Sana Biotechnology, Inc.)

Base Rent. 3.1 Beginning Tenant shall pay Base Rent in the amount set forth in the schedule of Base Rent attached hereto as Addendum 1. Tenant promises to pay to Landlord in advance, without demand, deduction or set-off except as otherwise specifically provided under this Lease, monthly installments of Base Rent on or before the first Business Day (as defined below) of each calendar month beginning with the month in which Tenant’s obligation to pay Base Rent commences as provided in Addendum 1. Notwithstanding the foregoing, the first (1st) payment of Base Rent is due within thirty (30) days after the later of (a) receipt of an invoice from Landlord, together with a current Project Report (defined in the Development Agreement); or (b) the Commencement Date. Landlord and Tenant agree that, as of the Effective Date, the initial schedule of Base Rent reflected in Addendum 1 of this Lease is an estimate based on the Developer Capital Contribution (defined in the Development Agreement). Upon determination of the Actual Cost (defined in the Development Agreement), and if a cost savings in, or deduction against, the cost of construction is realized, and Tenant is entitled to a reduction in Base Rent Commencement Datepursuant to the Development Agreement, then, Landlord and Tenant will enter into a lease amendment to set forth a revised Base Rent schedule. [LANDLORD RESERVCES RIGHT TO COMMENT IN CONNECTION WITH DA] Payments of Base Rent for any fractional calendar month shall pay, without prior notice or demand, be prorated. All payments required to be made by Tenant to Landlord hereunder (or Landlord’s agent at the management office to such other party as Landlord may from time to time specify in writing) shall be made by Electronic Funds Transfer of the Project, or, at Landlord’s option, immediately available federal funds at such other place within the continental United States as Landlord may from time to time designate in advance and to Tenant in writing. Tenant shall have no right at any time to axxxx, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of Americareduce, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord set-off any rent due hereunder except as may be expressly provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. ” means Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s useamounts payable by Tenant under this Lease, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrencewithin the meaning of California Civil Code Section 1951(a).

Appears in 1 contract

Samples: Lease Agreement (ROX Financial LP)

Base Rent. 3.1 Beginning on Tenant agrees to pay monthly as Base Rent during the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at term of this Lease the management office sum of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as money set forth in Section 4 1.5 of this Lease, which amount will be payable to Landlord at the Summaryaddress shown above. Monthly installments of Base Rent shall be due and payable, payable in equal monthly installments as set forth in Section 4 of the Summary in advance advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution term of this Lease. If any Rent payment ; provided that if the Commencement Date should be a date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one calendar month, the monthly Base Rent for any fractional month shall accrue be prorated on a daily basis for the period from the date such payment is due to the end of such that calendar month month, and shall be payable on or before the Commencement Date of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Landlord will promptly commence construction of the Building and Premises and shall diligently pursue construction thereof in order to have the Building and the Premises substantially complete on the Commencement Date. For the purposes of this provision, "substantially complete" shall mean that the Building and Premises are substantially completed in accordance with the approved construction documents and the requirements of the City of Arden Hills, subject only to punchlist and minor completion items that will not prevent Tenant from occupying and commencing operations within the Premises, which punchlist and minor completion items Landlord agrees to promptly complete. If, prior to June 15, 1999, Landlord determines that it will not be able to deliver the Building and Premises to Tenant in the condition required by the anticipated Commencement Date, Landlord shall notify Tenant, in writing, on or before July 1, 1999, and the Commencement Date shall be extended to the end actual substantial completion date. In such event, Landlord shall provide Tenant with not less than forty-five (45) days prior written notice of the Lease Term at anticipated substantial completion date. If, subject to force majeure or Tenant caused delays, the Building and Premises are not substantially complete and ready for Tenant's occupancy by August 1, 1999, Landlord shall pay to Tenant, as a rate per day which is equal to 1/365 credit against the first installment of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rentadditional rent payable hereunder, as defined belowan amount equal to $500.00 for each day thereafter until the Building and the Premises are substantially complete and ready for Tenant's occupancy. If, subject to force majeure or Tenant caused delays, the Building and Premises are not substantially complete and ready for Tenant's occupancy by September 1, 1999, Tenant shall together be denominated “Renthave the option to terminate this Lease by written notice to Landlord after September 1, 1999 and prior to substantial completion of the Building and Premises.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Lease Terms (Fair Isaac & Company Inc)

Base Rent. 3.1 Beginning on Throughout the Rent Commencement DateLease Term, Tenant shall paypay Base Rent in the amount set forth above. Tenant promises to pay to Landlord in advance, without prior notice or demand, to Landlord deduction or Landlord’s agent at the management office of the Projectset-off, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance Base Rent and Additional Rent on or before the first day of each calendar month commencing on the Rent Commencement Date. If the Lease Term commences or expires on a date other than the first day or the last day of a calendar month, respectively, then the Rent payable for such partial calendar month shall be an amount equal to the monthly installment of Rent otherwise then in effect, divided by the number of days in the full calendar month during which the Lease Term commences or expires, respectively, and every multiplied by the number of days in the partial calendar month after and including the Commencement Date or before and including the date of expiration, respectively, and provided further that the Rent for any partial calendar month at the commencement of the Initial Lease Term shall be payable on the first day of the first full calendar month during the Lease Term. All sums, liabilities, obligations and other amounts which Tenant is required to pay or discharge pursuant to this Lease in addition to Base Rent, including without limitation assessments or charges due and payable to any setoff applicable ownership associations, together with any interest, penalty, or deduction whatsoeverother sum which may be added for late payment thereof, shall constitute additional rent hereunder (herein called "Additional Rent"). The Base Rent for In the first full month event of any failure on the part of Tenant to pay or discharge any of the Lease Term foregoing, Landlord shall be paid at have all rights, powers and remedies provided for herein (or by law or equity or otherwise) in the time case of Tenant’s execution nonpayment of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Base Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis by Tenant to Landlord hereunder shall be prorated on the same basispayable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and Additional Rent (sometimes hereinafter collectively referred to as "Rent") and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premisesreduce, or set-off any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceRent due hereunder.

Appears in 1 contract

Samples: Lease (Blue Rhino Corp)

Base Rent. 3.1 Beginning Tenant agrees to pay to Landlord, monthly in advance, without offset or deduction, base rent for the Term (“Base Rent”) in the amount of the Monthly Base Rent set forth in the Base Rent Schedule commencing on the Rent Commencement DateDate and continuing on the first day of each month thereafter for the balance of the Term of this Lease. In addition thereto, Tenant shall paypay all such other amounts as are herein described as “Additional Rent” in the manner and at the time specified in this Lease. The term “Rent” when used in this Lease shall include all Base Rent payable under this Section 5.1, without prior notice or demand, as well as the charges herein described as Additional Rent. All Rent payable hereunder shall be payable to Landlord at LOCKBOX 2000 Xxxxxxxxx Xxxxxx, Xxxxxxx, XX 00000, or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may otherwise from time to time designate in advance and in writing. Notwithstanding the foregoing, (i) by but provided there is then no continuing Event of Default under the Lease, a check for currency whichportion of the monthly Base Rent, at the time of payment, is legal tender for private or public debts in the United States amount of America$35,770.50, or shall axxxx for the first four (ii4) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 full calendar months of the Summary, payable in equal monthly installments as set forth in Section 4 of Lease Term (the Summary in advance “Abatement Period”). If the Commencement Date does not fall on or before the first day of each and every a calendar month during month, then Tenant shall pay the Lease Term, without any setoff or deduction whatsoever. The Stub Period Base Rent for during any such partial month and the first full month of the Lease Term Abatement Period shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls begin on a day of the month other than the first day of such the first full calendar month following the Commencement Date. After the expiration (or if any earlier termination) of the Abatement Period, Tenant shall commence to pay full monthly Base Rent throughout the remainder of the Term when due, and without notice or demand therefor, as provided herein. During the Abatement Period, Tenant shall be responsible for the payment of the remainder of the monthly Base Rent, in the amount of $4,502.17, plus all monthly Rent is for a period which is shorter than one monthAdjustment Deposits and all costs, expenses and other amounts payable hereunder and all other amounts incurred or in connection with Tenant’s use and occupancy of the Premises. In the event Tenant breaches or defaults in the performance of any its covenants or obligations under this Lease and such breach or default continues beyond the expiration of any applicable notice and cure period, all abated monthly Base Rent shall thereupon become immediately due and payable (without limiting Landlord’s other rights and remedies hereunder, at law and in equity), and if such breach or default shall occur during the Abatement Period and such breach or default continues beyond the expiration of any applicable notice and cure period, the Rent for any fractional month Abatement Period shall accrue on a daily basis for the period from the date such payment is due to the end automatically be deemed terminated as of such calendar month breach or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rentdefault.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 1 contract

Samples: Akorn Inc

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts pay Base Rent in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as amount set forth in Section 4 the Basic Lease Provisions. The third month's Base Rent, the Security Deposit, and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the Summarydate hereof, payable and Tenant promises to pay to Landlord in equal advance, without demand, deduction or set-off, monthly installments as set forth in Section 4 of the Summary in advance Base Rent on or before the first day of each and every calendar month during succeeding the Lease Term, without any setoff or deduction whatsoeverCommencement Date. The Payments of Base Rent for the first full any fractional calendar month of the Lease Term shall be paid prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligation of Landlord under this Lease are independent obligations. Tenant shall have no right at any time of Tenant’s execution of to abate, reduce, or set-off any rent due hereunder except as may be exxxxxxly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent payment date (including the Rent Commencement Date) falls or of estimated Operating Expenses for more than 5 business days, Tenant shall pay to Landlord on demand a day of the month other than the first day late charge equal to 5 percent of such month or if any payment of Rent is delinquent sum. The provision for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis late charge shall be prorated on the same basis. Base Rent in addition to all of Landlord's other rights and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent remedies hereunder or at law and shall not be discharged construed as a penalty. No payment by Tenant or otherwise affected receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall any law endorsement or regulation now or hereafter applicable to the Premises, statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance or pursue any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure available remedy. The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be construed to perform any covenant contained herein, or be a waiver of Landlord's right to declare a default for any other occurrencelate payment.

Appears in 1 contract

Samples: Lease Agreement (Pods Inc)

Base Rent. 3.1 Beginning on Purchaser will receive a credit at Closing for the Rent Commencement Date, Tenant shall pay, without prior notice prorated amount of all base or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer fixed rent payable pursuant to the account of Landlord as provided to TenantLeases and all Additional Rents (collectively, base rent (Base Rent”) as set forth in Section 4 of previously paid to, or collected by, Seller and attributable to any period following the SummaryClosing Date. Rents are “Delinquent” when they were due prior to the Closing Date, payable in equal monthly installments as set forth in Section 4 of the Summary in advance and payment thereof has not been made on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoeverClosing Date. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Delinquent Rent shall not be discharged prorated at Closing. All Rent collected by Purchaser or otherwise affected by Seller from each tenant from and after Closing will be applied as follows: (i) first, to any law or regulation now or hereafter applicable accrued Rents owing to Purchaser, (ii) second, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), and (iii) third, to Delinquent Rents owing to Seller for the period prior to the PremisesClosing Month. Any Rent collected by Purchaser and due Seller hereunder will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser hereunder shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, or common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other restriction on Tenant’s use, or tenant charges in accordance with the Leases. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation for a period of one (except as expressly provided herein1) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceyear.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Hines Real Estate Investment Trust Inc)

Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, Xxxxxx agrees to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place pay monthly as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as during the term of this Lease the sum of money set forth in Section 4 1.4 of this Lease, which amount shall be payable to Landlord at the Summary, address shown above. One monthly installment of base rent shall be due and payable in equal on the date of execution of this Lease by Tenant for the first month's rent and a like monthly installments as set forth in Section 4 of the Summary in advance installment shall be due and payable on or before the first day of each and every calendar month succeeding the Rent Commencement Date defined below during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution term of this Lease. If any Rent payment date (including ; provided, if the Rent Commencement Date) falls on Date should be a day of the month date other than the first day of such month or if any payment of Rent is for a period which is shorter than one calendar month, the Rent for any fractional month monthly rental set forth above shall accrue on a daily basis for the period from the date such payment is due be prorated to the end of such that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month or during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the end contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Lease Term at a rate per day which is equal Premises to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under Tenant on the terms of Commencement Date, this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged void or otherwise affected voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent shall be abated until Landlord delivers possession.Such date of delivery of possession shall be the Rent Commencement Date. All base rent, additional rent and other sums payable by Tenant pursuant to this Lease are payable without demand and without any law reduction, abatement, counterclaims or regulation now or hereafter applicable setoff. Notwithstanding anything to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained contrary herein, or any other occurrencethis Lease shall be null and void at Tenant's option, if Landlord has not delivered possession by July 1, 1997, and in such event, the Security Deposit and first month's rent shall be refunded to Tenant, in full, within ten (10) days.

Appears in 1 contract

Samples: Lease Agreement (Xata Corp /Mn/)

Base Rent. 3.1 Beginning Tenant shall pay to Landlord base rent for the Premises ("Base Rent") as specified on the Basic Lease Term Sheet during the Primary Lease Term. All installments of Base Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, be payable in equal monthly installments as set forth in Section 4 of the Summary in advance advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The except that the first monthly installment of Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s due and payable upon execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rentby Tenant. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent (as hereinafter defined), (collectively, "Rent") shall be paid without notice, demand, deduction, offset, or abatement (except as defined belowotherwise expressly provided in this Lease), shall together at Landlord's address or at such other place as Landlord from time-to-time designates in writing. In no event will the total Rent to be denominated “Rent.” Without limiting paid by Tenant during any Lease Year ever be less than the foregoingBase Rent plus Tenant's Pro Rata Share of Operating Expenses under Paragraph 5. Notwithstanding anything to the contrary, Tenant may occupy the Premises and defer payment of Base Rent and Tenant’s 's Pro Rata Share of Operating Expenses for a period commencing on the Commencement Date and terminating May 31, 1999 (the "Deferred Rent Period"). Rents payable hereunder are allocable to, and will be accrued by the parties during, their fiscal periods in which the same is actually paid. No portion of the Base Rent paid by Tenant during periods after the expiration of the Deferred Rent Period will be allocated to such Deferred Rent Period, nor is such Rent intended to be allocable to the Deferred Rent Period. If at any time during the Term, an Event of Default occurs, Tenant owes Landlord, in addition to all other amounts, Base Rent and Tenant's Pro Rata Share of Operating Expenses deferred pursuant to this Paragraph during the Deferred Rent Period. Tenant, however, has no obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable the deferred amounts if no Event of Default occurs prior to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrenceexpiration of the Term.

Appears in 1 contract

Samples: Office Lease (Esoft Inc)

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