Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 32 contracts
Samples: Hotel Lease Agreement (Moody National REIT II, Inc.), Hotel Lease Agreement, Hotel Lease Agreement (Moody National REIT II, Inc.)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”Charge(s)"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on within ten days of demand, as Additional Charges, a late charge (an amount equal to the extent permitted by law) interest computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay the same from monies received from Lessee.
Appears in 8 contracts
Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust)
Additional Charges. In addition to the Base Minimum Rent and or Percentage RentRent payable under Section 3.1 of this Lease, (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations obligations, and Impositions that Lessee Tenant assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3, Lessee Tenant also will promptly pay and discharge every fine, penalty, interest interest, and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable equitable, and contractual rights, powers powers, and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Minimum Rent or Percentage Rent. If any installment of Base Rent and Minimum Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to LessorLandlord) shall not be paid on its due date, Lessee then Tenant will pay Lessor on Landlord within 10 days after demand, as Additional Charges, a late charge (an amount equal to the extent permitted by law) interest computed at the Overdue Interest Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement the requirements of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor Landlord shall pay the same from monies received from LesseeTenant.
Appears in 7 contracts
Samples: Lease Agreement (ESH Hospitality, Inc.), Lease Agreement (ESH Hospitality, Inc.), Lease Agreement (ESH Hospitality, Inc.)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 6 contracts
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, including, without limitation, all licensure violations, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent or Percentage Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 6 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.33.2, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 3.2 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Percentage Rent. The Lessee’s obligations regarding the payment of Impositions are set out in Section 4.1. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 5 contracts
Samples: Master Lease Agreement, Master Lease Agreement (Supertel Hospitality Inc), Master Lease Agreement (Supertel Hospitality Inc)
Additional Charges. In addition to the Base Rent and the Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions (as defined hereinbelow) that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.34.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 4.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”), ") and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as are available in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereofPercentage Rent. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 4 contracts
Samples: Lease Agreement (Crescent Real Estate Equities Inc), Lease Agreement (Crescent Real Estate Equities Inc), Lease Agreement (Crescent Real Estate Equities Inc)
Additional Charges. In addition to the Base Rent and Percentage Minimum Rent, (a1) Lessee Lessee, subject to its rights under ARTICLE XII, will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, including but not limited to those set forth in ARTICLES IX and XIII, below, and (b2) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”"ADDITIONAL CHARGES"), and Lessor shall have all legal, legal equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment nonpayment of the Additional Charges as in the case of non-payment of the Base RentCharges. If any installment elements of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within seven (7) Business Days after due date(after taking into account applicable time periods during which Lessee may contest the Additional Charges under ARTICLE XII) and Lessor pays any such amount (which Lessor shall have the right, but not the obligation to do), then, in addition to Lessor's other rights and remedies, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) interest on such unpaid Additional Charges computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of Lessee's payment thereof. To the extent that Lessee pays any Additional Charges directly to Lessor (as opposed to the applicable third party payee) pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due due, and within than three (3) Business Days after its receipt, Lessor shall pay same from monies received from Lesseeremit such payment(s) to the entity to which such payment(s) is due .
Appears in 4 contracts
Samples: Lease Agreement (Brookdale Senior Living Inc.), Lease Agreement (Brookdale Senior Living Inc.), Master Lease Agreement (Brookdale Senior Living Inc.)
Additional Charges. In addition to the Base Rent and Percentage Minimum Rent, (a1) Lessee Lessee, subject to its rights under Article XII, will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, including but not limited to those set forth in Articles IX and XIII, below, and (b2) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, legal equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment nonpayment of the Additional Charges as in the case of non-payment of the Base RentCharges. If any installment elements of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within seven (7) Business Days after due date(after taking into account applicable time periods during which Lessee may contest the Additional Charges under Article XII) and Lessor pays any such amount (which Lessor shall have the right, but not the obligation to do), then, in addition to Lessor's other rights and remedies, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) interest on such unpaid Additional Charges computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of Lessee's payment thereof. To the extent that Lessee pays any Additional Charges directly to Lessor (as opposed to the applicable third party payee) pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due due, and within than three (3) Business Days after its receipt, Lessor shall pay same from monies received from Lesseeremit such payment(s) to the entity to which such payment(s) is due .
Appears in 4 contracts
Samples: Master Lease Agreement (Alterra Healthcare Corp), Master Lease Agreement (Alterra Healthcare Corp), Lease (Alterra Healthcare Corp)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, (other than Impositions which are Lessor's obligations hereunder) and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base RentRent including, but not limited to, the right to pay such Additional Charges on behalf of Lessee and to require reimbursement thereof by Lessee, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 3 contracts
Samples: Consolidated Lease Amendment (Equity Inns Inc), Lease Agreement (Equity Inns Inc), Consolidated Lease Agreement (Equity Inns Inc)
Additional Charges. In addition to the Base Minimum Rent and or Percentage RentRent payable under Section 3.1 of this Lease, (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations obligations, and Impositions that Lessee Tenant assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.33.4, Lessee Tenant also will promptly pay and discharge every fine, penalty, interest interest, and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 3.4 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable equitable, and contractual rights, powers powers, and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Minimum Rent or Percentage Rent. If any installment of Base Rent and Minimum Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to LessorLandlord) shall not be paid on its due date, Lessee then Tenant will pay Lessor on Landlord within 10 days after demand, as Additional Charges, a late charge (an amount equal to the extent permitted by law) interest computed at the Overdue Interest Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement the requirements of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor Landlord shall pay the same from monies received from LesseeTenant.
Appears in 3 contracts
Samples: Lease Agreement (ESH Hospitality, Inc.), Lease Agreement (ESH Hospitality, Inc.), Lease Agreement (ESH Hospitality LLC)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 3 contracts
Samples: Lease Agreement (Highland Hospitality Corp), Master Lease Agreement (Jameson Inns Inc), Master Hotel Lease Agreement (Apple Suites Inc)
Additional Charges. In addition to the Base Rent, Percentage Rent and Percentage Sundry Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent, Percentage Rent and Percentage Sundry Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 3 contracts
Samples: Hotel Lease Agreement (Apple Hospitality Five Inc), Hotel Lease Agreement (Apple Reit Six Inc), Hotel Lease Agreement (Apple Hospitality Two Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.33.5, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 3.5 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent and Percentage Rent. If Subject to the other terms and conditions of this Lease, if any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 3 contracts
Samples: Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc)
Additional Charges. In addition to the Base Minimum Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, Impositions and obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in arising hereunder. In the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3amounts, liabilities, obligations, and Impositions, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (all of the items foregoing amounts, liabilities, obligations and Impositions referred to in clauses (a) and (b) of this Section 3.3 being shall be deemed to be additional rent payable by Lessee hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable legal and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on within fifteen (15) days of demand, as Additional Charges, a late charge (an amount equal to the extent permitted by law) interest computed at the Overdue Interest Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. If Lessee fails to timely pay any Additional Charges due to any third party, Lessor may pay such third party and will be reimbursed by Lessee on demand the amount paid by Lessor, plus interest at the Interest Rate from the date of such payment by Lessor until reimbursement by Lessee. To the extent that Lessee timely pays any Additional Charges to Lessor or any Secured Party pursuant to any requirement the requirements of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity third party to which they would otherwise be due and Lessor shall pay the same from monies received from LesseeLessee and any interest or penalties resulting from late payment thereof that is the responsibility of the Lessor shall be borne by the Lessor.
Appears in 3 contracts
Samples: Personal Property Lease Agreement, Personal Property Lease Agreement (CNL Lifestyle Properties Inc), Personal Property Lease Agreement (CNL Income Properties Inc)
Additional Charges. In addition to the Base Rent, Percentage Rent and Percentage Sundry Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent, Percentage Rent and Percentage Sundry Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 3 contracts
Samples: Master Hotel Lease Agreement (Apple Hospitality Five Inc), Hotel Lease Agreement (Apple Suites Inc), Master Hotel Lease Agreement (Apple Hospitality Two Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent, including, but not limited to, the right, but not the obligation to pay such Additional Charges on behalf of the Lessee and to require reimbursement thereof by Lessee, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 3 contracts
Samples: Lease Agreement (MHI Hospitality CORP), Lease Agreement (Summit Hotel OP, LP), Lease Agreement (MHI Hospitality CORP)
Additional Charges. In addition to the Base Minimum Rent and Percentage Rent, (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees Impositions, including without limitation all fees and charges due from time to pay time under this Lease, and (b) in the Cypress Permit. In the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3amounts, Lessee liabilities, obligations and Impositions, Tenant also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (all of the items foregoing amounts, liabilities, obligations and Impositions referred to in clauses (a) and (b) of this Section 3.3 being shall be deemed to be additional rent payable by Tenant hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable legal and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Minimum Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to LessorLandlord) shall not be paid on its due date, Lessee Tenant will pay Lessor on Landlord within fifteen (15) days of demand, as Additional Charges, a late charge (an amount equal to the extent permitted by law) interest computed at the Overdue Interest Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. If Tenant fails to timely pay any Additional Charges due to any third party Entity (e.g. payment for fees required to be paid to the Province on account of the Cypress Permit), Landlord may pay such third party Entity and will be reimbursed by Tenant on demand the amount paid by Landlord, plus interest at the Interest Rate from the date of such payment by Landlord until reimbursement by Tenant. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement the requirements of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity Entity to which they would otherwise be due and Lessor Landlord shall pay the same from monies received from LesseeTenant and any interest or penalties resulting from late payment thereof that is the responsibility of the Landlord shall be borne by the Landlord.
Appears in 3 contracts
Samples: Sub Permit and Lease Agreement, Sub Permit and Lease Agreement (CNL Lifestyle Properties Inc), Sub Permit and Lease Agreement (CNL Income Properties Inc)
Additional Charges. In addition to the Base Rent, Percentage Rent and Percentage ------------------ Sundry Rent, ,
(a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent, Percentage Rent and Percentage Sundry Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 3 contracts
Samples: Master Hotel Lease Agreement (Apple Hospitality Two Inc), Master Hotel Lease Agreement (Apple Hospitality Two Inc), Hotel Lease Agreement (Apple Suites Inc)
Additional Charges. In Subject to the rights to contest as set forth in Article 15, in addition to the Base Rent and Percentage the Additional Rent, (aA) the Lessee will also will pay and discharge as and when due and payable all Impositions, all amounts, liabilities and obligations under the Appurtenant Agreements due from or payable by the owner of the Leased Property, all amounts, liabilities and obligations under the Permitted Encumbrances due from or payable by the owner of the Leased Property and all other amounts, liabilities, liabilities and obligations and Impositions that which the Lessee assumes or agrees to pay under this Lease, and (bB) in the event of any failure on the part of the Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, the Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and the Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or the Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereofRent. To the extent that the Lessee pays any Additional Charges to the Lessor pursuant to any requirement of this Lease, the Lessee shall be relieved of its obligation to pay such Additional Charges to the entity any other Person to which they such Additional Charges would otherwise be due due, and the Lessor shall be obligated to pay same from monies received from Lesseesuch Additional Charges to any Person to whom such Additional Charges are due promptly and prior to any additional costs or expenses being incurred.
Appears in 3 contracts
Samples: Facility Lease Agreement (Alternative Living Services Inc), Facility Lease Agreement (Alternative Living Services Inc), Facility Lease Agreement (Alternative Living Services Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations, costs and expenses necessary to perform its obligations hereunder and Impositions that Lessee assumes or agrees to pay under this Leasethe Franchise Agreement, and (b) in the event of any failure on the part of Lessee to timely pay any of those items referred to in clause (a) of this Section 3.33.4, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 3.4 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this LeaseLease (which charges are not payable to Lessor), Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 2 contracts
Samples: Percentage Lease Agreement (Realty Refund Trust), Percentage Lease Agreement (Boykin Lodging Trust Inc)
Additional Charges. In addition to the Base Rent and Percentage Rentpayable under Section 3.1 of this Agreement, (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee Tenant assumes or agrees to pay under this LeaseAgreement, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3, Lessee Tenant also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease Agreement or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to LessorLandlord) shall not be paid on its due date, Lessee Tenant will pay Lessor on Landlord within 10 days of demand, as Additional Charges, a late charge (an amount equal to the extent permitted by law) interest computed at the Overdue Interest Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement the requirements of this LeaseAgreement, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor Landlord shall pay the same from monies received from LesseeTenant.
Appears in 2 contracts
Samples: Lease and Operating Agreement, Lease and Operating Agreement (Nevada Property 1 LLC)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section SECTION 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section SECTION 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional ChargesADDITIONAL CHARGES”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent, including, but not limited to, the right, but not the obligation to pay such Additional Charges on behalf of the Lessee and to require reimbursement thereof by Lessee, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 2 contracts
Samples: Lease Agreement (Gadsden Growth Properties, Inc.), Lease Agreement (Capital Lodging)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.33.2, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 3.2 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Percentage Rent. The Lessee's obligations regarding the payment of Impositions are set out in Section 4.1. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 2 contracts
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc), Master Lease Agreement (Humphrey Hospitality Trust Inc)
Additional Charges. In addition to the Base Rent and Percentage ------------------ Rent, (a) Lessee also will pay and discharge as and when due and payable the following: (a) all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, ----------- penalty, interest and cost that may be added for non-payment or late payment of such items (the items. The items referred to in clauses (a) and (b) of this Section 3.3 being ----------- shall be additional rent hereunder and being shall be referred to herein collectively as the “"Additional Charges”), and ". Lessor shall have all legal, equitable and ------------------ contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on within ten (10) days of demand, as Additional Charges, a late charge (to the extent permitted by law) equal to the greater of (i) interest computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof, or (b) five percent (5%) of such amount. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay the same from monies received from Lessee.
Appears in 2 contracts
Samples: Lease Agreement (Boston Properties Inc), Lease Agreement (Boston Properties Inc)
Additional Charges. In addition to the Construction Period Rent, Base Rent and the Percentage Rent, and except as expressly otherwise provided herein (a) Lessee will also will pay and discharge as and when due and payable all other amountscosts of owning and operating the Facility, liabilitiesall Impositions, obligations all Real Estate Taxes, Insurance Premiums, maintenance and Impositions that Lessee assumes or agrees to pay capital improvements, all violations and defaults under this Leaseany of the Permitted Exceptions, all licensure violations, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor and/or its Affiliates for all such amounts paid by Lessor and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Construction Period Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on within seven (7) days after its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due due. At any time during the Term, Lessor may require Lessee to pay into escrow or make deposits to Lessor (or to a Facility Lender if requested by Lessor) relating to any part of the Impositions, Real Estate Taxes and/or Insurance Premiums and Lessor Lessee shall pay same to Lessor (or directly to a Facility Lender if requested by Lessor), upon written request from monies received from LesseeLessor, such amounts as and when required by Lessor (or the Facility Lender). All sums paid into escrow or deposits shall not bear interest, may be commingled with Lessor's (or Facility Lender's) books and accounts, and may be applied by the Lessor (or the Facility Lender) to all sums owed by Lessee to Lessor (or to sums owed to Facility Lender).
Appears in 2 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that Impositions, which Lessee assumes or agrees to pay under this LeaseLease including, to the extent applicable, any condominium association dues, assessments or other charges and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten (10) days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment when due to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay any installment of Minimum Rent or any Additional Charges pursuant to Section 15.1(b) more than three times within any twelve-month period, Lessee shall pay an administrative fee to Lessor in the amount of $500.00 per year for such twelve-month period. To the extent that Lessee pays any Additional Charges to Lessor or the Facility Mortgagee pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor due. Additional charges shall pay same from monies received from Lesseebe deemed Rent hereunder.
Appears in 2 contracts
Samples: Lease Agreement (Balanced Care Corp), Lease Agreement (Balanced Care Corp)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that Impositions, which Lessee assumes or agrees to pay under this LeaseLease including, to the extent applicable, any condominium association dues, assessments or other charges, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the date when due date of such installment to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay any installment of Minimum Rent or any Additional Charges pursuant to Section 15.1(b) more than three times within any twelve-month period, Lessee shall pay an administrative fee to Lessor in the amount of $500.00 for each additional written notice Lessor gives pursuant to Section 15.1(b) during the next twelve months. To the extent that Lessee pays any Additional Charges to Lessor or the Facility Mortgagee pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor due. Additional Charges shall pay same from monies received from Lesseebe deemed Rent hereunder.
Appears in 2 contracts
Samples: Lease Agreement (Integrated Living Communities Inc), Lease Agreement (Integrated Living Communities Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating the Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all licensure violations, violations of and defaults under any of the Permitted Exceptions, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor for all such amounts paid by Lessor and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due due. At any time during the Term, Lessor may require Lessee to pay to Lessor or its Facility Lender estimates of Real Estate Taxes and Lessor Insurance Premiums and Lessee shall pay same to Lessor (or directly to a Facility Lender, if requested by Lessor), upon written request from monies received from LesseeLessor, such amounts as and when required by Lessor (or the Facility Lender). All sums paid into escrow or deposits shall not bear interest and may be commingled with Lessor's books, accounts and funds; however, upon an Event of Default under this Lease, the escrowed funds or deposits may be applied by Lessor (or the Facility Lender) to all sums owed by Lessee to Lessor (or to sums owed to Facility Lender).
Appears in 2 contracts
Samples: Lease Agreement (Medical Properties Trust Inc), Lease Agreement (Medical Properties Trust Inc)
Additional Charges. In addition to the Base Rent and Percentage Minimum Rent, (a1) Lessee Lessee, subject to its rights under Article XII, will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, including but not limited to those set forth in Articles IX and XIII, below, and (b2) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges)”), and Lessor shall have all legal, legal equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment nonpayment of the Additional Charges as in the case of non-payment of the Base RentCharges. If any installment elements of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within five (5) Business Days after due date(after taking into account applicable time periods during which Lessee may contest the Additional Charges under Article XII), Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on in the amount of such installment, from five percent (5%) of the due date amount of such installment to the date of payment thereofunpaid Additional Charges. To the extent that Lessee pays any Additional Charges directly to Lessor (as opposed to the applicable third party payee) pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 2 contracts
Samples: Master Lease Agreement (Assisted Living Concepts Inc), Master Lease Agreement (Assisted Living Concepts Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this LeaseLease including, to the extent applicable, any amounts due by Lessor under the Ground Lease and any condominium association dues, assessments or other charges, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment when due to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay any installment of Minimum Rent or any Additional Charges pursuant to Section 15.1(b) more than three times within any twelve-month period, Lessee shall pay an administrative fee to Lessor in the amount of $500.00 for each additional written notice Lessor gives pursuant to Section 15.1(b) during the next twelve months. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 2 contracts
Samples: Assignment and Assumption of Lease (Global Medical REIT Inc.), Assignment and Assumption of Lease (Global Medical REIT Inc.)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”"ADDITIONAL CHARGES"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 2 contracts
Samples: Contract for Purchase and Sale of Hotels (Felcor Suite Hotels Inc), Omnibus Lease Amendment Agreement (Felcor Lodging Trust Inc)
Additional Charges. In addition to the Base Rent and Percentage ------------------ Rent, ,
(a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees Tenant is required to pay under this Lease, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3, Lessee Tenant also will promptly pay and discharge every fine, penalty, interest interest, expense and cost that may be added for or related to non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent, including, but not limited to, the right, but not the obligation to pay such Additional Changes on behalf of the Tenant and to require reimbursement thereof by Tenant, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to LessorLandlord) shall not be paid on its due date, Lessee Tenant will pay Lessor Landlord on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor Landlord shall pay same from monies received from LesseeTenant. The payment of any Additional Charges by Landlord shall not relieve Tenant of any of its obligations under this Lease or of its responsibility to pay other such Additional Charges, and such payment shall not be deemed to be a waiver of any of Landlord's rights under this Lease or otherwise.
Appears in 2 contracts
Samples: Lease Agreement (Hudson Hotels Trust), Lease Agreement (Hudson Hotels Trust)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this LeaseLease and all fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penaltypenalties, interest and cost that costs which may be added for non-payment or late payment of any such items (collectively, the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin five Business Days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge (a) with respect to any overdue installment of Minimum Rent, an amount equal to 10% of such installment, and (b) with respect to any Additional Charges, interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment when due to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay any Additional Charges pursuant to Section 15.1(b) more than one time within any twelve-month period, Lessee shall pay an administrative fee to Lessor in the amount of $1,000.00 for each additional written notice Lessor gives pursuant to Section 15.1(b) during the next twelve months. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor due. Additional Charges shall pay same from monies received from Lesseeconstitute Rent payable hereunder.
Appears in 2 contracts
Samples: Lease Agreement (Ramsay Health Care Inc), Lease Agreement (Ramsay Health Care Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations obligations, costs and Impositions that expenses which are provided to be paid by Lessee assumes or agrees to pay under this LeaseLease or which are necessary to perform its obligations hereunder and any Management Agreement with respect to the Leased Property, and (b) in the event of any failure on the part of Lessee to timely pay any of those items referred to in clause (a) of this Section 3.33.4, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 3.4 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this LeaseLease (which charges are not payable to Lessor), Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 2 contracts
Samples: Percentage Lease Agreement (Boykin Lodging Co), Percentage Lease Agreement (Red Lion Inns Limited Partnership)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”"ADDITIONAL CHARGES"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent, including, but not limited to, the right, but not the obligation to pay such Additional Charges on behalf of Lessee and to require reimbursement thereof by Lessee, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 2 contracts
Samples: Lease Agreement (Felcor Lodging Trust Inc), Lease Agreement (Bristol Hotels & Resorts Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee Tenant will also will pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that Lessee which Tenant assumes or agrees to pay under this Lease including, to the extent applicable, any amounts due by Landlord under any assessments, tax, fees, or other charges related to the ownership and leasing of the Leased Property that accrue during the Term of this Lease, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) above of this Section 3.3which it received all notice required hereunder, Lessee Tenant will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Rent or Additional Charges payment due to Landlord is not delivered to Landlord within ten (but only as to those Additional Charges that are payable directly to Lessor10) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Chargesdays after written notice from Landlord, a late charge of five percent (to the extent permitted by law5%) computed at the Overdue Rate on of the amount of such installmentpayable shall be due and payable by Tenant as additional Rent. In addition, amounts owing to Landlord which are not received by Landlord within ten (10) days after written notice from Landlord shall bear interest from the eleventh (11th) day after the due date until paid at the rate of such installment the Overdue Rate. The Minimum Rent, Additional Charges, late fees and Impositions are collectively referred to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseeherein as “Rent” or “Rental.”
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Global Medical REIT Inc.)
Additional Charges. In addition to the Base Rent and Percentage Participating Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-non- payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent, Participating Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on within ten (10) days of demand, as Additional Charges, a late charge (to the extent not in violation of any usury statutes and otherwise permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 2 contracts
Samples: Merger Agreement (Capstar Hotel Co), Merger Agreement (American General Hospitality Corp)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease(other than Impositions which are Lessor's obligations hereunder), and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base RentRent including, but not limited to, the right to pay such Additional Charges on behalf of Lessee and to require reimbursement thereof by Lessee, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 2 contracts
Samples: Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc)
Additional Charges. In addition to the Base Rent and Percentage Minimum Rent, (a1) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes assumes, is obligated or agrees to pay under this Lease, and (b2) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base RentCharges. If any installment elements of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due datedate and Lessor pays any such amount (which Lessor shall have the right, but not the obligation, to do), then, in addition to Lessor's other rights and remedies, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) interest on such unpaid Additional Charges computed at the Overdue Rate on the amount of such installment, from the due date of that Lessor pays such installment amount to the date of payment thereofthat Lessor receives reimbursement from Lessee. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 2 contracts
Samples: Lease (LTC Healthcare Inc), Lease Agreement (LTC Healthcare Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating the Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations of and defaults under any of the Permitted Exceptions, all licensure violations, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor and/or its Affiliates for all such amounts paid by Lessor and/or its Affiliates and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin five (5) Business Days, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and due. If at any time during the Term Lessor requires Lessee to pay into escrow or make deposits to Lessor (or to a Facility Lender, if requested by Lessor) relating to any part of the Additional Charges (including, without limitation, the Impositions, Real Estate Taxes and/or Insurance Premiums), Lessee shall pay same to Lessor (or directly to a Facility Lender, if requested by Lessor), upon written request from monies received from Lessor, amounts adequate to fund Lessee's Additional Charge obligations hereunder when due. All sums paid into escrow or deposits made shall not bear interest and shall not be commingled with Lessor's books, accounts and funds; however, upon a default or an Event of Default under this Lease, the escrowed funds or deposit may be applied by Lessor (or the Facility Lender) to all sums owed by Lessee to Lessor (or to sums owed to Facility Lender).
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (ab) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (bc) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. The Lessee's obligations regarding the payment of Impositions are set out in Section 4.2. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay pay, and discharge as and when due and payable all other amounts, liabilitiesliabilities and obligations under the Ground Lease, obligations and in addition to the Impositions that Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating each Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations of and defaults under any of the Permitted Exceptions, and all licensure violations, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor and/or its Affiliates for all such amounts paid by Lessor and/or its Affiliates and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease Lease, by statute, or by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within five (5) Business Days after the applicable due date, Lessee Lessee, in addition to all other obligations hereunder, will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate and a late payment penalty computed at the Late Payment Penalty Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to clause (a) above or pursuant to any other requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due due. If any provision of any Facility Instrument requires payment into escrow or making of deposits to be made with such Facility Lender relating to any part of the Additional Charges (including, without limitation, the Impositions, Real Estate Taxes and/or some or all Insurance Premiums), then Lessee shall either pay to Lessor such required Additional Charges and Lessor shall transfer such amounts to such Facility Lender or, pursuant to written direction by Lessor, Lessee shall pay same from monies received from such Additional Charges directly to such Facility Lender. Additionally, at Lessor’s option during the Term, Lessor may require Lessee to pay into escrow or make deposits to Lessor relating to any part of the Additional Charges (including, without limitation, the Impositions, Real Estate Taxes and/or some or all Insurance Premiums), which deposits or installments shall be payable after delivery of at least thirty (30) days’ prior written notice to Lessee (unless an Event of Default shall occur or be continuing, in which event, such deposits shall be payable to Lessor upon demand). Upon such request, Lessee shall pay to Lessor (or directly to a Facility Lender, if requested by Lessor), such amounts as and when required by Lessor (or the Facility Lender). Any such part of the Additional Charges paid into escrow or deposits in accordance herewith shall not bear interest, may be commingled with Lessor’s (or Facility Lender’s) books and accounts and, upon an Event of Default by Lessee hereunder, may be applied by Lessor (or Facility Lender) to all sums owed by Lessee to Lessor and any of its Affiliates (or to sums owed to Facility Lender or otherwise owed by Lessee); provided, however, that, if Lessor collects any deposits for Additional Charges in accordance with this Section 3.2, (i) Lessor shall use such deposited amounts to pay, or cause such deposited amounts to be used to pay, such Additional Charges prior to delinquency, and (ii) Lessor shall refund to Lessee, on an annual basis, any such remaining amounts collected in excess of the amounts ultimately required to pay the applicable Additional Charges.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating each Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations of and defaults under any of the Permitted Exceptions (but excluding any items Lessee is not required to pay under the definition of Impositions) and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor and/or its Affiliates for all such amounts paid by Lessor and/or its Affiliates and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment non‑payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease Lease, by statute, or by statute or otherwise otherwise, in the case of non-payment non‑payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within five (5) Business Days after the applicable due date, Lessee Lessee, in addition to all other obligations hereunder, will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate and a late payment penalty computed at the Late Payment Penalty Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to clause (b) above or pursuant to any other requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and due. Nothing in the foregoing limits the provisions of Article XII. At Lessor's option, during the Term, upon its written request to Lessee, Lessee shall make monthly payments to Lessor (or to a Facility Lender, if requested by Lessor) in such amounts as Lessor shall estimate to be necessary to pay same from monies received from Lessee.any Real Estate Taxes and/or some or all Insurance Premiums. If Lessor exercises this option, it shall include in its written request an invoice in reasonable detail (the "Escrow Invoice") specifying the amount to be paid on account of Real Estate Taxes and/or Insurance Premiums (the "Monthly Escrow Amount"). Lessee shall pay to Lessor the Monthly Escrow Amount on the first (1st) day of each month after receipt of the initial Escrow Invoice. At any time, with at least five (5) Business Days' notice prior to the end of any month during the Term, Lessor may deliver to Lessee a substituted, adjusted or amended Escrow Invoice providing for a new Monthly Escrow Amount, and thereafter Lessee shall pay the revised Monthly Escrow Amount on the first (1st) day of the each succeeding month (subject to further adjustment as provided for in this sentence). Any sums paid to Lessor pursuant to this Section 3.2 shall not bear interest, may be commingled with Lessor's (or Facility Lender's) books and accounts, and upon an Event of Default hereunder, may be applied by Lessor (or Facility Lender) to all sums owed by Lessee or any Affiliate of Lessee to Lessor or any Affiliate of Lessor (or to sums owed to Facility Lender) relating to the acquisition and leasing of the Leased Property (provided, that prior to an Event of Default Lessor shall use any amounts so paid to pay the relevant Real Estate Taxes and Insurance Premiums, as applicable, in each case prior to 25
Appears in 1 contract
Samples: Master Funding and Development Agreement (Adeptus Health Inc.)
Additional Charges. In addition Subject to the Base Rent and Percentage RentArticle 11 relating to permitted ------------------ contests, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilitiesliabilities and obligations, obligations and Impositions that which Lessee assumes or agrees to pay under this LeaseLease including, to the extent applicable, any condominium association dues, assessments or other charges, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment nonpayment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the date when due date of such installment to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay any installment of Minimum Rent or any Additional Charges pursuant to Section 15.1(b) more than three times within any twelve month period, Lessee shall pay an administrative fee to Lessor in the amount of $500.00 for each additional written notice Lessor gives pursuant to Section 15.1(b) during the next twelve months. To the extent that Lessee pays any Additional Charges to Lessor or the Facility Mortgagee pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor due. Additional Charges shall pay same from monies received from Lesseebe deemed Rent hereunder.
Appears in 1 contract
Samples: Lease Agreement (Emeritus Corp\wa\)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-non- payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Samples: Contract for Purchase and Sale of Hotels (Itt Corp /Nv/)
Additional Charges. In addition to the Base Minimum Rent and Percentage Rent, (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee Tenant assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3, Lessee Tenant also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”Charge(s)"), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Minimum Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to LessorLandlord) shall not be paid on its due date, Lessee Tenant will pay Lessor on Landlord within ten (10) days of demand, as Additional Charges, a late charge (an amount equal to the extent permitted by law) interest computed at the Overdue Interest Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement the requirements of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor Landlord shall pay the same from monies received from LesseeTenant.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay (other than Impositions which are Lessor's obligations hereunder) due under this Lease, Lease and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3Section, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be within applicable grace periods, if any, added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base RentRent including, but not limited to, the right to pay such Additional Charges on behalf of Lessee and to require reimbursement thereof by Lessee, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, within applicable grace periods, if any, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Samples: Lease Agreement (Equity Inns Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee ------------------ also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.33.2, Lessee ----------- also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 3.2 being additional rent hereunder ----------- and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Percentage Rent. The Lessee's obligations regarding the payment of Impositions are set out in Section 4.1. If any installment of Base Rent and Percentage Rent or Additional ----------- Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc)
Additional Charges. In Subject to the rights to contest as set forth in Article 15, in addition to the Base Rent and Percentage Additional Rent, (a) the Lessee will also will pay and discharge as and when due and payable all Impositions, all amounts, liabilities and obligations under the Appurtenant Agreements due from or payable by the owner of the Leased Property, (including, without limitation, the Service, Maintenance and Easement Payments), all amounts, liabilities and, except as provided in Section 3.3, obligations under the Permitted Encumbrances due from or payable by the owner of the Leased Property and all other amounts, liabilities, liabilities and obligations and Impositions that which the Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of the Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, the Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and the Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or the Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereofRent. To the extent that the Lessee pays any Additional Charges to the Lessor pursuant to any requirement of this Lease, the Lessee shall be relieved of its obligation to pay such Additional Charges to the entity any other Person to which they such Additional Charges would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Additional Charges. In addition Subject to the Base Rent and Percentage RentArticle 11 relating to permitted ------------------ contests, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilitiesliabilities and obligations, obligations and Impositions that which Lessee assumes or agrees to pay under this LeaseLease including, to the extent applicable, any condominium association dues, assessments or other charges, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every finefme, penalty, interest and cost that which may be added for non-payment nonpayment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the date when due date of such installment to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay any installment of Minimum Rent or any Additional Charges pursuant to Section 15.1(b) more than three times within any twelve month period, Lessee shall pay an administrative fee to Lessor in the amount of $500.00 for each additional written notice Lessor gives pursuant to Section 15.1(b) during the next twelve months. To the extent that Lessee pays any Additional Charges to Lessor or the Facility Mortgagee pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor due. Additional Charges shall pay same from monies received from Lesseebe deemed Rent hereunder.
Appears in 1 contract
Samples: Lease Agreement (Emeritus Corp\wa\)
Additional Charges. In addition to the Base Rent, Percentage Rent ------------------- and Percentage Sundry Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent, Percentage Rent and Percentage Sundry Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rentpayments owed under the Note, (a) Lessee also will Borrower shall pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that Lessee which such Facility Borrower assumes or agrees to pay under this Leasethe Loan Documents, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Real Property, including, without limitation, all costs of owning and operating each Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations of and defaults under any of the Permitted Exceptions, and all licensure violations, civil monetary penalties and fines (except to the extent such violations, defaults, penalties or fines are caused by the gross negligence or willful misconduct of Lender), and (b) in the event of any failure on the part of Lessee Borrower to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee Borrower will also will promptly pay and reimburse Lender and/or its Affiliates for all such amounts paid by Lender and/or its Affiliates and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor Lender shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or the Loan Documents, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base RentScheduled Monthly Payments. If any installment of Base Rent and Percentage Rent Scheduled Monthly Payment or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within ten (10) days after the applicable due date, Lessee will Borrower, in addition to all other obligations hereunder, shall pay Lessor to Lender on demand, demand as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, installment from the due date of such installment to the date of payment thereof, and a Late Payment Penalty with respect to such installment. To the extent that Lessee Borrower pays any Additional Charges to Lessor Lender pursuant to clause (b) above or pursuant to any other requirement of this Leasethe Loan Documents, Lessee Borrower shall be relieved of its obligation to pay such Additional Charges to the entity Person to which they would otherwise be due due. If required by Lender following the occurrence and Lessor continuance of an Event of Default, then, upon written request to Borrower, Borrower shall make monthly payments to Lender in such amounts as Lender shall estimate to be necessary to pay any Real Estate Taxes and/or some or all Insurance Premiums. If Lender exercises this option, it shall include in its written request an invoice in reasonable detail (the “Escrow Invoice”) specifying the amount to be paid on account of Real Estate Taxes and/or Insurance Premiums (the “Monthly Escrow Amount”). Borrower shall pay same from monies received from Lesseeto Lender the Monthly Escrow Amount on the first (1st) day of each month after receipt of the initial Escrow Invoice. At any time, with at least five (5) Business Days’ notice prior to the end of any month during the Term, Lender may deliver to Borrower a substituted, adjusted or amended Escrow Invoice providing for a new Monthly Escrow Amount, and thereafter Borrower shall pay the revised Monthly Escrow Amount on the first (1st) day of the each succeeding month (subject to further adjustment as provided for in this sentence). Any sums paid to Lender pursuant to this Section 3.1 shall bear interest and may not be commingled with Lender’s books and accounts, and upon the occurrence and continuance of an Event of Default hereunder, may be applied by Lender to all sums owed by Borrower or any Affiliate of Borrower to Lender or any Affiliate of Lender relating to the Loan Obligations (provided, that prior to an Event of Default, Lender shall use any amounts so paid to pay the relevant Real Estate Taxes and Insurance Premiums, as applicable, in each case prior to delinquency). Lender shall refund to Borrower at the end of the Loan Term, provided that no Event of Default then exists, any such remaining amounts collected in excess of the amounts ultimately required to pay the relevant Real Estate Taxes or Insurance Premiums. Nothing in this Section 3.1 limits the provisions of Article XIX.
Appears in 1 contract
Samples: Real Estate Loan Agreement (MPT Operating Partnership, L.P.)
Additional Charges. In addition All costs expenses and charges of every kind and nature relating to the Base Rent demised premises (except the taxes of Lessor referred to herein and Percentage Rentany payments on account of interest of principal under any mortgage or deed of trust which shall be a lien on the fee of the demised premises), (a) which may arise or become due during the initial term or any renewal term of this Lease shall be paid by Lessee, and that Lessor shall be indemnified and saved harmless by Lessee also will from and against the same, except Lessor shall pay all real estate taxes with respect to the demised premises, all condominium fees, electric, water, and discharge other utilities, cleaning and janitorial services and insurance with respect to the demised premises as set forth hereinafter. The rent shall be paid to Lessor without notice or demand and when due without abatement, deduction or set-off, except as otherwise expressly herein provided. All taxes, charges, costs and payable all other amounts, liabilities, obligations and Impositions that Lessee expenses which Xxxxxx assumes or agrees to pay under any provisions of this Lease, Lease together with all interest and (b) penalties that may accrue thereon in the event of any Xxxxxx's failure on the part of Lessee to pay same as herein provided, all other damages, costs and expenses, including without limitation witness fees, attorneys fees, deposition and other legal and court costs which Lessor may suffer or incur, and any of those items referred to in clause (a) and all other sums which may become due, by reason with the agreements, terms, covenants and conditions of this Section 3.3Lease on Xxxxxx's part to be performed, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may shall be added for non-payment or late payment of such items (the items referred deemed to in clauses (a) and (b) of this Section 3.3 being be additional rent hereunder and being referred to herein collectively as in the “Additional Charges”)event of nonpayment, and Lessor shall have all legal, equitable and contractual rights, powers the rights and remedies herein provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as rent. All rental payments delinquent for a period in the case excess of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges ten (but only as 10) days shall be subject to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed charges being assessed at the Overdue Rate on the amount rate of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseetwenty percent (20) per annum.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable the following: (a) all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section SECTION 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items. The items referred to in clauses (a) and (b) of this Section SECTION 3.3 being shall be additional rent hereunder and being shall be referred to herein collectively as the “Additional Charges”), and "ADDITIONAL CHARGES". Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on within ten (10) days of demand, as Additional Charges, a late charge (to the extent permitted by law) equal to the greater of (i) interest computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.such
Appears in 1 contract
Additional Charges. In addition to the Base Rent and the Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions (as defined hereinbelow) that Lessee expressly assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.34.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 4.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), ) and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as are available in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereofPercentage Rent. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Samples: Lease Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee Tenant assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3, Lessee Tenant also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent, including, but not limited to, the right, but not the obligation to pay such Additional Charges on behalf of the Tenant and to require reimbursement thereof by Tenant, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to LessorLandlord) shall not be paid on its due date, Lessee Tenant will pay Lessor Landlord on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor Landlord shall pay same from monies received from LesseeTenant.
Appears in 1 contract
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Additional Charges. In This Lease shall be an absolute triple net lease. Accordingly, in addition to the Base Rent and Percentage Minimum Rent, (a1) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this LeaseMaster Lease Document, including without limitation, all amounts under Article IV hereof and (b2) in - 13 - the event of any failure on the part of Lessee to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 above being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Master Lease Document or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this LeaseMaster Lease Document, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Samples: Master Lease Agreement (Universal Health Realty Income Trust)
Additional Charges. Increase in Taxes / Revisions in Product Price
a) The parties hereto confirm that the Installments have been arrived at after taking into account all relevant taxes, duties, charges and levies applicable as on the date of this agreement. The BORROWER agrees that the Installments will be increased by any fresh imposition or increase of Installments, taxes, duties, levies and charges during the subsistence of this agreement. In the event of such taxes, duties, levies and charges increasing during the period of the placing of the order for the Product and its acceptance and eventual delivery to the BORROWER, such increases shall also be borne and paid by the BORROWER.
b) If the price of the Product (in case of acquiring a new Product) is revised upwards after the date hereof and prior to delivery of Product then in that event the BORROWER shall pay all of the additional amount (in addition to the Base Rent amount already paid or to be paid by him / it along with the Installment's as the price of the Product) that may be required for acquiring the Product at such revised price and Percentage Rentthe LENDER shall not be liable to pay any amount by way of loan or otherwise for such revision in price of the Product.
c) The LENDER shall not be responsible for any downward revisions in the Product price by the Manufacturer / Dealer / Supplier after the delivery of the Product and the BORROWER will not withhold payment of any installments on this ground.
d) The BORROWER shall during the period of this agreement and till all amounts payable under this agreement are paid by the BORROWER in full to the LENDER's satisfaction herein bear all imposts, charges and other duties, taxes and penalties as may be levied from time to time by any government or any other authority pertaining to or in respect of the Product and/or this agreement and pay the same on demand by the LENDER.
e) The BORROWER agrees to reimburse to the LENDER immediately upon demand Goods & Services Tax (GST) as per applicable rate orany nature imposed now or hereafter whether during or after the termination of this agreement provided it is pertaining to the period of this agreement and till the duration that the BORROWER has paid all amounts to the LENDER under this agreement to the LENDER's satisfaction the BORROWER shall also be liable to reimburse to the LENDER interest, penalty, fee, fine for any other losses that the LENDER may have to bear for reasons of having paid tax, duty, penalty or any other sum.
f) If the BORROWER fails to pay the money referred to in sub-clause (a), (ab), (d) Lessee also will & (e) above, the LENDER may pay the same and discharge the BORROWER shall reimburse all sums so paid together with compensation charges as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and provided in clause 2 (b) in the event of any hereof.
g) Any failure on the part of Lessee the BORROWER to pay any of those items referred to in clause (a) of this Section 3.3such taxes, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment duties or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively other outgoings as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise set out in the case of non-payment sub clauses above, shall constitute a default of the Additional Charges agreement entitling the LENDER to take all or any remedial action as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseecontained herein.
Appears in 1 contract
Samples: Car and Two Wheeler Loan Agreement
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay pay, and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating each Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations of and defaults under any of the Permitted Exceptions, and all licensure violations, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor and/or its Affiliates for all such amounts paid by Lessor and/or its Affiliates and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease Lease, by statute, or by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on within five (5) Business Days after the date required to be paid hereunder, and such amount has been paid by Lessor in accordance with its due daterights under this Section 3.2, Lessee will pay to Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installmentAdditional Charge, from the due date of paid by Lessor until such installment to the date of payment thereofamount has been reimbursed. To the extent that Lessee pays any Additional Charges to Lessor pursuant to clause (b) above or pursuant to any other requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and due. Nothing in the foregoing limits the provisions of Article XII. At Lessor’s option, during the Term, upon its written request to Lessee, Lessee shall make monthly payments to Lessor (or to a Facility Lender, if requested by Lessor) in such amounts as Lessor shall estimate to be necessary to pay same from monies received from Lesseeany Real Estate Taxes and/or some or all Insurance Premiums. If Lessor exercises this option, it shall include in its written request an invoice in reasonable detail (the “Escrow Invoice”) specifying the amount to be paid on account of Real Estate Taxes and/or Insurance Premiums (the “Monthly Escrow Amount”). Lessee shall pay to Lessor the Monthly Escrow Amount on the first (1st) day of each month after receipt of the initial Escrow Invoice. At any time, with at least five (5) Business Days’ notice prior to the end of any month during the Term, Lessor may deliver to Lessee a substituted, adjusted or amended Escrow Invoice providing for a new Monthly Escrow Amount, and thereafter Lessee shall pay the revised Monthly Escrow Amount on the first (1st) day of the each succeeding month (subject to further adjustment as provided for in this sentence). Any sums paid to Lessor pursuant to this Section 3.2 shall not bear interest, may be commingled with Lessor’s (or Facility Lender’s) books and accounts, and upon an Event of Default hereunder, may be applied by Lessor (or Facility Lender) to all sums owed by Lessee or any Affiliate of Lessee to Lessor or any Affiliate of Lessor (or to sums owed to Facility Lender) relating to the acquisition and leasing of the Leased Property (provided, that prior to an Event of Default, Lessor shall use any amounts so paid to pay the relevant Real Estate Taxes and Insurance Premiums, as applicable, in each case prior to delinquency). Lessor shall refund to Lessee at the end of the Term, provided that no Event of Default then exists, any such remaining amounts collected in excess of the amounts ultimately required to pay the relevant Real Estate Taxes or Insurance Premiums.
Appears in 1 contract
Samples: Master Lease Agreement (MPT Operating Partnership, L.P.)
Additional Charges. In addition to the Base Rent and Percentage Rent,
(a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating the Facility, all taxes, insurance, maintenance and capital improvements, all licensure violations, violations of and defaults under any of the Permitted Exceptions, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor for all such amounts paid by Lessor and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due due. Notwithstanding anything contained herein to the contrary, if any Facility Mortgagee requires Lessor to pay into escrows or make deposits relating to any part of the Additional Charges (including, without limitation, the Impositions), Lessee shall pay to Lessor the amounts required by the Facility Mortgagee, as and when required, and Lessor shall pay same from monies received from Lesseetransfer such amounts to such Facility Mortgagee or, pursuant to written direction by Lessor, Lessee shall make such deposits directly with such Facility Mortgagee.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that Impositions, which Lessee assumes or agrees to pay under this LeaseLease including, to the extent applicable, any condominium association dues, assessments or other charges, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment when due to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay any installment of Minimum Rent or any Additional Charges pursuant to Section 15.1(b) more than three times within any twelve-month period, Lessee shall pay an administrative fee to Lessor in the amount of $500.00 for each additional written notice Lessor gives pursuant to Section 15.1(b) during the next twelve months. To the extent that Lessee pays any Additional Charges to Lessor or the Facility Mortgagee pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor due. Additional Charges shall pay same from monies received from Lesseebe deemed Rent hereunder.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Minimum Rent, (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees Impositions, including without limitation all Ground Lease rent and all fees and charges due from time to pay time under this the Ground Lease, and (b) in . In the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3amounts, Lessee liabilities, obligations and Impositions, Tenant also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (all of the items foregoing amounts, liabilities, obligations and Impositions referred to in clauses (a) and (b) of this Section 3.3 being shall be deemed to be additional rent payable by Tenant hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable legal and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or on Additional Charges (but only as to those Additional Charges that are payable directly to LessorLandlord) shall not be paid on its due date, Lessee Tenant will pay Lessor on Landlord within fifteen (15) days of demand, as Additional Charges, a late charge (an amount equal to the extent permitted by law) interest computed at the Overdue Interest Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. If Tenant fails to timely pay any Additional Charges due to any third party Entity (e.g. payment of rent to the lessor under the Ground Lease), Landlord may pay such third party Entity and will be reimbursed by Tenant on demand the amount paid by Landlord, plus interest at the Interest Rate from the date of such payment by Landlord until reimbursement by Tenant. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement the requirements of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity Entity to which they would otherwise be due and Lessor Landlord shall promptly pay the same from monies received from LesseeTenant and any interest or penalties resulting from late payment thereof that is the responsibility of the Landlord shall be borne by the Landlord.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, (other than Impositions which are Lessor's obligations hereunder) and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-non- payment of the Additional Charges as in the case of non-payment of the Base RentRent including, but not limited to, the right to pay such Additional Charges on behalf of Lessee and to require reimbursement thereof by Lessee, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent,
(a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, the Parking Lot Rent, all costs of owning and operating the Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all licensure violations, violations of and defaults under any of the Permitted Exceptions, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor for all such amounts paid by Lessor and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due due. At any time during the Term, Lessor may require Lessee to pay to Lessor or its Facility Lender estimates of Real Estate Taxes and Lessor Insurance Premiums and Lessee shall pay same to Lessor (or directly to a Facility Lender, if requested by Lessor), upon written request from monies received from LesseeLessor, such amounts as and when required by Lessor (or the Facility Lender). All sums paid into escrow or deposits shall not bear interest and may be commingled with Lessor's books, accounts and funds; however, upon an Event of Default under this Lease, the escrowed funds or deposits may be applied by Lessor (or the Facility Lender) to all sums owed by Lessee to Lessor (or to sums owed to Facility Lender).
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent,
(a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating the Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations and defaults under any of the Permitted Exceptions, all licensure violations, all violations of and defaults under any of the Permitted Exceptions, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor and/or its Affiliates for all such amounts paid by Lessor and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin five (5) Business Days, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and due. If at any time during the Term Lessor requires Lessee to pay into escrow or make deposits to Lessor (or to a Facility Lender, if requested by Lessor) relating to any part of the Additional Charges (including, the Impositions, Real Estate Taxes and/or Insurance Premiums), Lessee shall pay same to Lessor (or directly to a Facility Lender, if requested by Lessor), upon written request from monies received from LesseeLessor, the amounts as and when required by Lessor (or the Facility Lender). All sums paid into escrow or deposits made shall not bear interest and shall not be commingled with Lessor's books, accounts and funds; however, upon a default or an Event of Default under this Lease, the escrowed funds or deposits may be applied by Lessor (or the Facility Lender) to all sums owed by Lessee to Lessor (or to sums owed to Facility Lender).
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that Impositions, which Lessee assumes or agrees to pay under this LeaseLease including, to the extent applicable, any condominium association dues, assessments or other charges, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment nonpayment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment when due to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay 3ny installment of Minimum Rent or any Additional Charges pursuant to Section 15.1(b) more than three times within any twelve- month period, Lessee shall pay an administrative fee to Lessor in the amount of $500.00 for each additional written notice Lessor gives pursuant to Section 15.1(b) during the next twelve months. To the extent that Lessee pays any Additional Charges to Lessor or the Facility Mortgagee pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor due. Additional Charges shall pay same from monies received from Lesseebe deemed Rent hereunder.
Appears in 1 contract
Samples: Lease Agreement (Emeritus Corp\wa\)
Additional Charges. In addition to the Base Rent and Percentage Rent, Tenant shall reimburse Landlord within five (5) business days following receipt of Landlord’s invoice for Tenant’s Proportionate Share (as defined hereafter in Article 34) of (a) Lessee also will pay any amounts due by Landlord under any assessments, taxes (described in Section 3.1 below), fees, insurance, rental and discharge as parking fees payable under the Ground Lease, property management fees (not to exceed 3.5% of the sum of Minimum Rent and when due Additional Charges payable under all leases within the Building), accounting fees, or other charges related to the ownership and payable leasing of the Premises that accrue during the Term of this Lease and all other amounts, liabilities, obligations expenditures of Landlord under Sections 7.1(a) and Impositions that Lessee assumes or agrees to pay under this Lease7.2, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) above of this Section 3.3which it received all notice required hereunder, Lessee Tenant will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to LessorLandlord) shall not be paid on its due datewithin five (5) business days after the date when due, Lessee Tenant will pay Lessor Landlord on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the date when due date of such installment to Landlord to the date of payment in full thereof. To the extent that Lessee pays any The Minimum Rent, Additional Charges and Impositions are collectively referred to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseeherein as “Rent.”
Appears in 1 contract
Samples: Lease Agreement (Cornerstone Healthcare Plus Reit, Inc.)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten (10) days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge equal to five (5%) percent of the overdue installment to cover the expenses associated with such late payment plus interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment when due to the date of payment in fall thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, the Construction Period Rent (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees relating to pay under this Leasethe Leased Property and the Facility, including, without limitation, all licensure violations, civil monetary penalties and fines, all common area expenses and other charges assessed against the Leased Property and/or the Facility pursuant to the REA, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee Tenant also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent, Construction Period Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due date, Lessee Tenant will pay Lessor Landlord on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Additional Charges. In Subject to the rights to contest as set forth in Article 15, in addition to the Base Rent and Percentage Additional Rent, (a) the Lessee will also will pay and discharge as and when due and payable all Impositions, all amounts, liabilities and obligations under the Appurtenant Agreements due from or payable by the owner of the Leased Property, all amounts, liabilities and, except as provided in Section 3.3, obligations under the Permitted Encumbrances due from or payable by the owner of the Leased Property and all other amounts, liabilities, liabilities and obligations and Impositions that which the Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of the Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, the Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and the Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or the Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereofRent. To the extent that the Lessee pays any Additional Charges to the Lessor pursuant to any requirement of this Lease, the Lessee shall be relieved of its obligation to pay such Additional Charges to the entity any other Person to which they such Additional Charges would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, Tenant shall reimburse Landlord within ten (10) business days following receipt of Landlord’s invoice for Tenant’s Proportionate Share (as defined hereafter in Article 34) of (a) Lessee also will pay any amounts due by Landlord under any assessments, taxes (described in Section 3.1 below), fees, insurance, rental and discharge as parking fees payable under the Ground Lease, property management fees (not to exceed 3.5% of the sum of Minimum Rent and when due Additional Charges payable under all leases within the Building), accounting fees, or other charges related to the ownership and payable leasing of the Premises that accrue during the Term of this Lease and all other amounts, liabilities, obligations expenditures of Landlord under Sections 7.1(a) and Impositions that Lessee assumes or agrees to pay under this Lease7.2, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) above of this Section 3.3which it received all notice required hereunder, Lessee Tenant will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to LessorLandlord) shall not be paid on its due datewithin five (5) business days after the date when due, Lessee Tenant will pay Lessor Landlord on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the date when due date of such installment to Landlord to the date of payment in full thereof. To Notwithstanding the extent foregoing, at any time that Lessee pays any Tenant is managing the Building, the property management fees described above shall be distributed among Landlord and Tenant, with 2.75% of the sum of Minimum Rent and Additional Charges payable under all leases within the Building to Lessor pursuant be paid to any requirement Tenant and 0.75% of this Lease, Lessee shall be relieved the sum of its obligation to pay such Minimum Rent and Additional Charges payable under all leases within the Building to the entity be paid to which they would otherwise be due Landlord. The Minimum Rent, Additional Charges and Lessor shall pay same from monies received from LesseeImpositions are collectively referred to herein as “Rent.”
Appears in 1 contract
Samples: Lease Agreement (Cornerstone Healthcare Plus Reit, Inc.)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Master Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Master Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Master Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Minimum Rent, (a1) Lessee Lessee, subject to its rights under ARTICLE XII, will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, including but not limited to those set forth in ARTICLES IX and XIII, below, and (b2) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”"ADDITIONAL CHARGES)", and Lessor shall have all legal, legal equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment nonpayment of the Additional Charges as in the case of non-payment of the Base RentCharges. If any installment elements of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within five (5) Business Days after due date(after taking into account applicable time periods during which Lessee may contest the Additional Charges under ARTICLE XII), Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on in the amount of such installment, from five percent (5%) of the due date amount of such installment to the date of payment thereofunpaid Additional Charges. To the extent that Lessee pays any Additional Charges directly to Lessor (as opposed to the applicable third party payee) pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Samples: Master Lease Agreement (Assisted Living Concepts Inc)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees relating to pay under this Leasethe Leased Property and the Facility, including, without limitation, all licensure violations, civil monetary penalties and fines, all common area expenses and other charges assessed against the Leased Property and/or the Facility pursuant to the REA, and (b) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee Tenant also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due date, Lessee Tenant will pay Lessor Landlord on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
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Additional Charges. In addition to the Base Rent and Percentage Rent, the Construction Period Rent (a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating the Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations and defaults under any of the Permitted Exceptions, all licensure violations, all violations of and defaults under any of the Permitted Exceptions, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor and/or its Affiliates for all such amounts paid by Lessor and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent, Construction Period Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due due. At any time during the Term, Lessor may require Lessee to pay into escrow or make deposits to Lessor (or to a Facility Lender if requested by Lessor) relating to Real Estate Taxes and/or Insurance Premiums, and Lessor Lessee shall pay same to Lessor (or directly to a Facility Lender if requested by Lessor), upon written request from monies received from LesseeLessor, such amounts as and when required by Lessor (or the Facility Lender). All sums paid into escrow or deposits shall not bear interest, may be commingled with Lessor's (or Facility Lender's) books and accounts, and may be applied by the Lessor (or the Facility Lender) to all sums owed by Lessee to Lessor (or to sums owed to Facility Lender).
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Additional Charges. In addition Subject to the Base Rent and Percentage RentArticle 11 relating to permitted ------------------- contests, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilitiesliabilities and obligations, obligations and Impositions that which Lessee assumes or agrees to pay under this LeaseLease including, to the extent applicable, any condominium association dues, assessments or other charges, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the date when due date of such installment to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay any installment of Minimum Rent or any Additional Charges pursuant to Section 15.1(b) more than three times within any twelve month period, Lessee shall pay an administrative fee to Lessor in the amount of $500.00 for each additional written notice Lessor gives pursuant to Section 15.1(b) during the next twelve months. To the extent that Lessee pays any Additional Charges to Lessor or the Facility Mortgagee pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor due. Additional Charges shall pay same from monies received from Lesseebe deemed Rent hereunder.
Appears in 1 contract
Samples: Lease Agreement (Emeritus Corp\wa\)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that Impositions, which Lessee assumes or agrees to pay under this LeaseLease including, to the extent applicable, any condominium association dues, assessments or other charges and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges as in well as the case of non-payment of the Base Minimum Rent. If any installment of Base Rent and Percentage Minimum Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on its due datewithin ten (10) days after the date when due, Lessee will pay Lessor on demand, as Additional Charges, a late charge interest (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment when due to the date of payment in full thereof. In the event Lessor provides Lessee with written notice of failure to timely pay any installment of Minimum Rent or any Additional Charges pursuant to Section 15.1(b) more than three times within any twelve-month period, Lessee shall pay an administrative fee to Lessor in the amount of $500.00 per year for such twelve-month period. To the extent that Lessee pays any Additional Charges to Lessor or the Facility Mortgagee pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they such Additional Charges would otherwise be due and Lessor due. Additional Charges shall pay same from monies received from Lesseebe deemed Rent hereunder.
Appears in 1 contract
Samples: Lease (Balanced Care Corp)
Additional Charges. In addition to the Base Rent and Percentage Minimum Rent, (a1) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations (including but not limited to all rents, charges, payments, impositions and amounts payable under the Ground Leases) and Impositions that which Lessee assumes assumes, is obligated or agrees to pay under this Lease, and (b2) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base RentCharges. If any installment elements of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due datedate and Lessor pays any such amount (which Lessor shall have the right, but not the obligation, to do), then, in addition to Lessor's other rights and remedies, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) interest on such unpaid Additional Charges computed at the Overdue Rate on the amount of such installment, from the due date of that Lessor pays such installment amount to the date of payment thereofthat Lessor receives reimbursement from Lessee. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Samples: Lease Agreement (LTC Healthcare Inc)
Additional Charges. In addition to the Base Rent and Percentage Additional Rent, (a) Lessee will also will pay and discharge as and when due and payable all other amountsamount, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of well as the Base Rent or Additional Rent. If any installment of Base Rent and Percentage Rent, Additional Rent or Additional Charges (but only as to those Additional Charges that which are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent, including, but not limited to, the right, but not the obligation to pay such Additional Changes on behalf of Lessee and to require reimbursement thereof by Lessee, together with interest thereon at the Overdue Rate. If any installment of Base Rent and Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
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Additional Charges. In addition to Each of the Base Rent and Percentage Rent, (a) Lessee Borrwer Parties shall also will pay and discharge as and when due and payable (a) all other amounts, liabilities, obligations and Impositions that Lessee which such Borrower Party assumes or agrees to pay under this Leasethe Loan Documents, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Collateral or the Business, including, without limitation, all costs of owning and operating the Hospital, all Real Estate Taxes, insurance premiums, maintenance and capital improvements, all licensure violations, violations of and defaults under any of the Permitted Encumbrances, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee the Borrower Parties to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee the Borrower Parties, jointly and severally, will also will promptly pay and reimburse the MPT Parties for all such amounts paid by the MPT Parties and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor the MPT Parties shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or the Loan Documents, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rentother Loan Obligations. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due date, Lessee the Borrower Parties, jointly and severally, will pay Lessor to the MPT Parties on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Default Rate (or at the maximum rate permitted by law, whichever is less) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays the Borrower Parties pay any Additional Charges to Lessor the MPT Parties pursuant to any requirement of this Leasethe Loan Documents, Lessee the Borrower Parties shall be relieved of its their obligation to pay such Additional Charges to the entity to which they would otherwise be due due. At any time during the Loan Term, the MPT Parties may require the Borrower Parties to pay to the MPT Parties the MPT Parties' estimates of Real Estate Taxes and Lessor insurance premiums and the Borrower Parties, jointly and severally, shall pay same to the MPT Parties, upon written request from monies received from Lesseeany of the MPT Parties, such amounts as and when required by the MPT Parties. All sums paid into escrow or deposits shall not bear interest and may be commingled with the MPT Parties' books, accounts and funds; however, upon an Event of Default, the escrowed funds or deposits may be applied by the MPT Parties to all sums owed by the Borrower Parties or the Guarantors to the MPT Parties.
Appears in 1 contract
Additional Charges. In addition to the Base Minimum Rent and Percentage Rent, (a) Lessee Tenant also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in Impositions. In the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a) of this Section 3.3amounts, Lessee liabilities, obligations and Impositions, Tenant also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (all of the items foregoing amounts, liabilities, obligations and Impositions referred to in clauses (a) and (b) of this Section 3.3 being shall be deemed to be additional rent payable by Tenant hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor Landlord shall have all legal, equitable legal and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Minimum Rent. If any installment instalment of Base Rent and Minimum Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to LessorLandlord) shall not be paid on its due date, Lessee Tenant will pay Lessor on Landlord within ten (10) days of demand, as Additional Charges, a late charge (an amount equal to the extent permitted by law) interest computed at the Overdue Interest Rate on the amount of such installmentinstalment, from the due date of such installment instalment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement the requirements of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity Entity to which they would otherwise be due and Lessor Landlord shall pay the same from monies received from LesseeTenant.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will shall pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will shall promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items items, and (c) if any installment of Base Rent, Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand a late charge (to the maximum extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof (the items referred to in clauses (a), (b) and (bc)) of this Section 3.3 being are additional rent hereunder and being are referred to herein collectively as the “Additional Charges”), and . Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its Lessee’s obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
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Additional Charges. (a) In addition to the Base Rent and Percentage Rentpayments owed on the Note, (a) Lessee each of the Borrower Parties shall also will pay and discharge as and when due and payable (or, in the case of Impositions, prior to delinquency) (i) all other amounts, liabilities, obligations and Impositions that Lessee which such Borrower Party assumes or agrees to pay under this Leasethe Loan Documents, and all other amounts, liabilities, obligations and Impositions for which the Borrower Parties are responsible related to the ownership, use, possession and operation of the Collateral or the Business, including, without limitation, all costs of owning and operating the Facilities, all Real Estate Taxes, insurance premiums, maintenance and capital improvements, all licensure violations, violations of and defaults under any of the Permitted Exceptions, and civil monetary penalties and fines, and (bii) in the event of any failure on the part of Lessee the Borrower Parties to pay any of those items referred to in clause (ai) of this Section 3.3above, Lessee the Borrower Parties, jointly and severally, will also will promptly pay and reimburse MPT for all such amounts paid by MPT and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (ai) and (bii) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor MPT shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or the Loan Documents, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rentother Loan Obligations. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due datewithin five (5) Business Days after the date required to be paid hereunder (subject to any applicable notice and cure period pursuant to Section 13.1(a)), Lessee the Borrower Parties, jointly and severally, will pay Lessor to MPT on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Default Rate and a late payment penalty computed at the Late Payment Penalty Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays the Borrower Parties pay any Additional Charges to Lessor MPT pursuant to any requirement of this Leasethe Loan Documents, Lessee the Borrower Parties shall be relieved of its their obligation to pay such Additional Charges to the entity Person to which they would otherwise be due due.
(b) If any provision of any Facility Instrument requires payment into escrow or making of deposits to be made with such Facility Lender relating to any part of the Additional Charges (including, without limitation, the Impositions, Real Estate Taxes and/or some or all Insurance Premiums), then the Borrower Parties shall either pay to MPT such required Additional Charges and Lessor MPT shall transfer such amounts to such Facility Lender or, pursuant to written direction by MPT, the Borrower Parties shall pay same from monies received from Lesseesuch Additional Charges directly to such Facility Lender. Additionally, at MPT’s option during the Loan Term, MPT may require the Borrower Parties to pay into escrow or make deposits to MPT relating to any part of the Additional Charges (including, without limitation, the Impositions, Real Estate Taxes and/or some or all Insurance Premiums), which deposits or installments shall be payable after delivery of at least thirty (30) days’ prior written notice to the Borrower Parties (unless an Event of Default shall occur or be continuing, in which event, such deposits shall be payable to MPT upon demand). Upon such request, the Borrower Parties shall pay to MPT (or directly to a Facility Lender, if requested by MPT), such amounts as and when required by MPT (or the Facility Lender). Any such part of the Additional Charges paid into escrow or deposits in accordance herewith shall not bear interest, may be commingled with MPT’s (or Facility Lender’s) books and accounts and, upon an Event of Default hereunder, may be applied by MPT (or Facility Lender) to all sums owed by the Borrower Parties to MPT and any of its respective Affiliates (or to sums owed to Facility Lender or otherwise owed by the Borrower Parties); provided, however, that, if MPT collects any deposits for Additional Charges in accordance with this Section 3.1, (i) MPT shall use such deposited amounts to pay, or cause such deposited amounts to be used to pay, such Additional Charges prior to delinquency, and (ii) MPT shall refund to the Borrower Parties, on an annual basis, any such remaining amounts collected in excess of the amounts ultimately required to pay the applicable Additional Charges.
Appears in 1 contract
Samples: Real Estate Loan Agreement (Medical Properties Trust Inc)
Additional Charges. In addition to the Base Rent and Percentage Rentthe Oklahoma Ground Lease Rent that Lessee assumes or agrees to pay under this Lease, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees related to pay the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating each Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations of and defaults under this Leaseany of the Permitted Exceptions, and all licensure violations, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor, and/or its Affiliates for all such amounts paid by Lessor, and/or its Affiliates and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease Lease, by statute, or by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within five (5) Business Days after the applicable due date, Lessee Lessee, in addition to all other obligations hereunder, will pay to Lessor on demand, demand as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, installment from the due date of such installment to the date of payment thereof, and a Late Payment Penalty with respect to such installment. To the extent that Lessee pays any Additional Charges to Lessor pursuant to clause (b) above or pursuant to any other requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue. Nothing in this Section 3.2 limits the provisions of Article XXII.
Appears in 1 contract
Samples: Master Lease Agreement (MPT Operating Partnership, L.P.)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and all other amounts, liabilities, obligations and Impositions related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating each Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations of and defaults under any of the Permitted Exceptions (but excluding any items Lessee is not required to pay under the definition of Impositions) and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor and/or its Affiliates for all such amounts paid by Lessor and/or its Affiliates and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment non‑payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease Lease, by statute, or by statute or otherwise otherwise, in the case of non-payment non‑payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within five (5) Business Days after the applicable due date, Lessee Lessee, in addition to all other obligations hereunder, will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate and a late payment penalty computed at the Late Payment Penalty Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to clause (b) above or pursuant to any other requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and due. Nothing in the foregoing limits the provisions of Article XII. At Lessor's option, during the Term, upon its written request to Lessee, Lessee shall make monthly payments to Lessor (or to a Facility Lender, if requested by Lessor) in such amounts as Lessor shall estimate to be necessary to pay same from monies received from Lessee.any Real Estate Taxes and/or some or all Insurance Premiums. If Lessor exercises this option, it shall include in its written request an invoice in reasonable detail (the "Escrow Invoice") specifying the amount to be paid on account of Real Estate Taxes and/or Insurance Premiums (the "Monthly Escrow Amount"). Lessee shall pay to Lessor the Monthly Escrow Amount on the first (1st) day of each month after receipt of the initial Escrow Invoice. At any time, with at least five (5) Business Days' notice prior to the end of any month during the Term, Lessor may deliver to Lessee a substituted, adjusted or amended Escrow Invoice providing for a new Monthly Escrow Amount, and thereafter Lessee shall pay the revised Monthly Escrow Amount on the first (1st) day of the each succeeding month (subject to further adjustment as provided for in this sentence). Any sums paid to Lessor pursuant to this Section 3.2 shall not bear interest, may be commingled with Lessor's (or Facility Lender's) books and accounts, and upon an Event of Default hereunder, may be applied by Lessor (or Facility Lender) to all sums owed by Lessee or any Affiliate of Lessee to Lessor or any Affiliate of Lessor (or to sums owed to Facility Lender) relating to the acquisition and leasing of the Leased Property (provided, that prior to an Event of Default Lessor shall use any amounts so paid to pay the relevant Real Estate Taxes and Insurance Premiums, as applicable, in each case prior to delinquency). Lessor shall refund to Lessee at the end of the Term, provided that 24
Appears in 1 contract
Samples: Master Funding and Development Agreement (Adeptus Health Inc.)
Additional Charges. In Subject to the rights to contest as set forth in Article 15, in addition to the Base Rent and Percentage the Additional Rent, (a) the Lessee will also will pay and discharge as and when due and payable all Impositions, all amounts, liabilities and obligations under the Appurtenant Agreements due from or payable by the owner of the Leased Property, all amounts, liabilities and obligations under the Permitted Encumbrances due from or payable by the owner of the Leased Property and all other amounts, liabilities, liabilities and obligations and Impositions that which the Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of the Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, the Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and the Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or the Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereofRent. To the extent that the Lessee pays any Additional Charges to the Lessor pursuant to any requirement of this Lease, the Lessee shall be relieved of its obligation to pay such Additional Charges to the entity any other Person to which they such Additional Charges would otherwise be due due, and the Lessor shall be obligated to pay same from monies received from Lesseesuch Additional Charges to any Person to whom such Additional Charges are due promptly and prior to any additional costs or expenses being incurred.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rentthe Oklahoma Ground Lease Rent that Lessee assumes or agrees to pay under this Lease, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees related to pay the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating each Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations of and defaults under this Leaseany of the Permitted Exceptions, and all licensure violations, civil monetary penalties and fines, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor, MPT Real Estate Owner and/or their respective Affiliates for all such amounts paid by Lessor, MPT Real Estate Owner and/or their Affiliates and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease Lease, by statute, or by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within five (5) Business Days after the applicable due date, Lessee Lessee, in addition to all other obligations hereunder, will pay to Lessor on demand, demand as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, installment from the due date of such installment to the date of payment thereof, and a Late Payment Penalty with respect to such installment. To the extent that Lessee pays any Additional Charges to Lessor pursuant to clause (b) above or pursuant to any other requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue. Nothing in this Section 3.2 limits the provisions of Article XXII.
Appears in 1 contract
Samples: Master Lease Agreement (MPT Operating Partnership, L.P.)
Additional Charges. In addition to the Base Rent and Percentage Rent, (a1) Lessee Tenant will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee which Tenant assumes or agrees to pay under this LeaseLease including without limitation all Impositions and charges, costs and expenses described in Section 2.22, plus sales tax, and (b2) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee Tenant will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent Rent, or Additional Charges (but only as to those Additional Charges that which are payable directly to LessorLandlord) shall not be paid on within three (3) Business Days after its due date, Lessee Tenant will pay Lessor Landlord on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is the lesser) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement of this Lease, Lessee Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Samples: Operations Transfer Agreement (Extendicare Health Services Inc)
Additional Charges. In addition Tenant and Landlord agree that the rent accruing under this Lease shall be net to Landlord and that all taxes, costs, promotional fees, common area maintenance fees, expenses and charges of every kind and nature, including attorneys' fees incurred by Landlord in enforcing the provisions of this lease, whether or not any legal proceedings are commenced ("Additional Charges") arising in connection with or relating to the Base Rent and Percentage RentDemised Premises (excluding, however, (a1) Lessee also will pay taxes other than Real Estate Taxes for which Landlord is responsible under Section 3.05(a) and discharge as (2) any payments for interest or principal under any fee mortgage relating to the Demised Premises) which may arise or become due at any time during the Lease Term, shall be paid by Tenant. Tenant hereby indemnifies, defends, protects, and when due saves Landlord wholly harmless from and payable against any and all other amountsAdditional Charges. As used herein, liabilitiesthe term "Additional Rent" shall include, obligations without limitation, all of the following: (1) any and Impositions that Lessee all Additional Charges for which Tenant is responsible hereunder, or which Tenant otherwise assumes or agrees to pay; (2) all interest and penalties that may accrue on such Additional Charges if Tenant fails to pay them timely within any applicable cure periods; (3) all other damages, costs and expenses (including, without limitation, reasonable attorneys' fees and other legal and court costs) which Landlord may suffer or incur in enforcing this Lease; and (4) any and all other sums which may become due by reason of Tenant's default or failure to comply with its obligations under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Samples: Land and Building Lease (Shells Seafood Restaurants Inc)
Additional Charges. In addition to the Base Rent, Percentage Rent and Percentage Sundry Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Rent, Percentage Rent, Sundry Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Participating Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent or Participating Rent. If any installment of Base Rent and Percentage Rent, Participating Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on within ten (10) days of demand, as Additional Charges, a late charge (to the extent not in violation of any usury statutes and otherwise permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Additional Charges. In addition Lessor agrees to furnish to Lessee, at Lessor's sole cost and expense, within thirty (30) days after the date hereof, a current boundary survey of the premises. Other, in all respects, Lessee and Lessor agree that the rent accruing under this Lease shall be net to Lessor and that all costs of platting the premises (as provided in Section 6.1), all costs of development of the premises (as provided in Article XIII), including without limitation obtaining site plan approval, specific use permit, if any, and taxes, costs, common area maintenance fees for the premises, expenses and charges of every kind and nature except as may herein be expressly provided ("additional charges") relating to the Base Rent premises (except the taxes of Lessor referred to in Section 6.3 and Percentage Rentany payments for interest or principal under any mortgage relating to Lessor's interest in the premises) which may arise or become due during the term or any extension of this Lease, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that shall be paid by Lessee. All additional charges which Lessee assumes or agrees to pay under any provisions of this Lease, together with all interest and penalties that may accrue on these additional charges in the event Lessee fails to pay them, as well as all other damages, costs and expenses, including, without limitation, reasonable attorneys' fees and other legal and court costs which Lessor may incur in enforcing this Lease, and (b) in any and all other sums which may become due by reason of Lessee's default or failure to comply with its obligations under this Lease, shall be deemed to be additional charges. In the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”)payment, and Lessor shall have all legal, equitable and contractual rights, powers the rights and remedies as provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseerent.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and the Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions (hereinafter defined) that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.34.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 4.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”), " and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as are available in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereofPercentage Rent. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage ------------------ Participating Rent, ,
(a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, including, without limitation any fees, charges and assessments required to be paid pursuant to any [CONDOMINIUM]/(2)/ association or other like agreement pursuant to which charges or fees may be assessed against the Leased Property, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent, Participating Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on within ten (10) days of demand, as Additional Charges, a late charge (to the extent not in violation of any usury statutes and otherwise permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.
Appears in 1 contract
Samples: Lease Agreement (American General Hospitality Corp)
Additional Charges. In addition to the Base Rent and Percentage Additional Rent,
(a1) Lessee Tenant shall also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee which Tenant assumes or agrees to pay under this Lease, and (b2) in the event of any failure on the part of Lessee Tenant to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee Tenant shall also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies . Except as otherwise provided either in this Lease or as otherwise required by statute or otherwise in the case any third party entitled to receipt of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge all Additional Charges shall be due and payable thirty (30) days after either Landlord or the applicable third party who may be billing Tenant therefor shall deliver an invoice to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereofTenant therefor. To the extent that Lessee Tenant pays any Additional Charges to Lessor Landlord pursuant to any requirement requirements of this Lease, Lessee which charges are due and payable to a third party, Landlord shall pay such charges to such third party and, in any event, Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due due. Alternatively, with respect to Additional Charges payable to a third party, Tenant may pay such charges directly to such third party and Lessor shall thereby be relieved of any obligation to pay same from monies received from Lesseesuch charges to Landlord.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Minimum Rent, (a1) Lessee will also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and (b2) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a1) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a1) and (b2) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base RentCharges. If any installment elements of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on within five (5) Business Days after its due datedate and Lessor pays any such amount (which Lessor shall have the right, but not the obligation, to do), then, in addition to Lessor's other rights and remedies, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) interest on such unpaid Additional Charges computed at the Overdue Rate on the amount of such installment, from the due date of that Lessor pays such installment amount to the date of payment thereofthat Lessor receives reimbursement from Lessee. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Additional Charges. In addition to the Base Rent and Percentage Rent, (a) Lessee also will shall pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes related to the ownership, use, possession and operation of the Leased Property, including, without limitation, all costs of owning and operating each Facility, all Real Estate Taxes, Insurance Premiums, maintenance and capital improvements, all violations of and defaults under any of the Permitted Exceptions, and all licensure violations, civil monetary penalties and fines (except to the extent such violations, defaults, penalties or agrees to pay under this Leasefines are caused by the gross negligence or willful misconduct of Lessor), and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and reimburse Lessor, and/or its Affiliates for all such amounts paid by Lessor, and/or its Affiliates and promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease Lease, by statute, or by statute or otherwise otherwise, in the case of non-payment of the Additional Charges Charges, as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its within ten (10) days after the applicable due date, Lessee Lessee, in addition to all other obligations hereunder, will pay to Lessor on demand, demand as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, installment from the due date of such installment to the date of payment thereof, and a Late Payment Penalty with respect to such installment. To the extent that Lessee pays any Additional Charges to Lessor pursuant to clause (b) above or pursuant to any other requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and due. If required by Lessor following the occurrence of an Event of Default, then, upon written request to Lessee, Lessee shall make monthly payments to Lessor in such amounts as Lessor shall estimate to be necessary to pay same from monies received from Lesseeany Real Estate Taxes and/or some or all Insurance Premiums. If Lessor exercises this option, it shall include in its written request an invoice in reasonable detail (the “Escrow Invoice”) specifying the amount to be paid on account of Real Estate Taxes and/or Insurance Premiums (the “Monthly Escrow Amount”). Lessee shall pay to Lessor the Monthly Escrow Amount on the first (1st) day of each month after receipt of the initial Escrow Invoice. At any time, with at least five (5) Business Days’ notice prior to the end of any month during the Term, Lessor may deliver to Lessee a substituted, adjusted or amended Escrow Invoice providing for a new Monthly Escrow Amount, and thereafter Lessee shall pay the revised Monthly Escrow Amount on the first (1st) day of the each succeeding month (subject to further adjustment as provided for in this sentence). Any sums paid to Lessor pursuant to this Section 3.2 shall bear interest, may not be commingled with Lessor’s books and accounts, and upon an Event of Default hereunder, may be applied by Lessor to all sums owed by Lessee or any Affiliate of Lessee to Lessor or any Affiliate of Lessor relating to the acquisition and leasing of the Leased Property (provided, that prior to an Event of Default, Lessor shall use any amounts so paid to pay the relevant Real Estate Taxes and Insurance Premiums, as applicable, in each case prior to delinquency). Lessor shall refund to Lessee at the end of the Term, provided that no Event of Default then exists, any such remaining amounts collected in excess of the amounts ultimately required to pay the relevant Real Estate Taxes or Insurance Premiums. Nothing in this Section 3.2 limits the provisions of Article XXII.
Appears in 1 contract
Samples: Master Lease Agreement (MPT Operating Partnership, L.P.)
Additional Charges. In Subject to the rights to contest as set forth in Article 15, in addition to the Base Rent and Percentage Additional Rent, (a) Lessee will also will pay and discharge as and when due and payable all Impositions, all amounts, liabilities and obligations under the Appurtenant Agreements and all other amounts, liabilities, liabilities and obligations and Impositions that which Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3above, Lessee will also will promptly pay and discharge every fine, penalty, interest and cost that which may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and above being referred to herein collectively as the “"Additional Charges”"), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or Lease, by statute or otherwise otherwise, in the case of non-non- payment of the Additional Charges Charges, as in well as the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereofRent. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity any other Person to which they such Additional Charges would otherwise be due and Lessor shall pay same from monies received from Lesseedue.
Appears in 1 contract
Samples: Lease Agreement (Emeritus Corp\wa\)