Common use of Additional Payment Obligations Clause in Contracts

Additional Payment Obligations. It is the express intention of both Landlord and Tenant that Tenant’s payments of Base Rent and other sums in consideration of the occupancy and Option rights granted herein shall relieve Landlord of all debt service and operational cost obligations associated with the Premises, except to the extent specifically excepted or stipulated hereinafter. Accordingly, any sums payable by Tenant under this Section 6 shall be additional rent and collectible as such (collectively, such payment obligations arising under this Section 6 being referred to herein as “Additional Rent”). Tenant expressly acknowledges, covenants and agrees that Tenant’s obligation to pay Base Rent under Section 5 above and to pay Additional Rent as set forth in this Section 6 are independent of any obligation of Landlord under this Lease and that all Rent and Additional Rent (collectively and where no distinction is desired or required, “Rent”) are payable to Landlord or its Lender and their successors and assigns, ELECTRONICALLY FILED - 2020 Jun 29 9:24 AM - GREENVILLE - COMMON PLEAS - CASE#2020CP2300012 notwithstanding any claim of default by Landlord as may exist hereunder and without any self-effecting right or privilege of set-off, off-set deduction, abatement, or reduction whatsoever. In other words, Rent is a separate covenant. Additional Rent shall be remitted and prorated in the same fashion as Base Rent.

Appears in 1 contract

Samples: Asset Transfer Agreement

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Additional Payment Obligations. It is the express intention of both Landlord and Tenant that Tenant’s payments of Base Rent and other sums in consideration of the occupancy and Option rights granted herein shall relieve Landlord of all debt service and operational cost obligations associated with the Premises, except to the extent specifically excepted or stipulated hereinafter. Accordingly, any sums payable by Tenant under this Section 6 shall be additional rent and collectible as such (collectively, such payment obligations arising under this Section 6 being referred to herein as “Additional Rent”). Tenant expressly acknowledges, covenants and agrees that Tenant’s obligation to pay Base Rent under Section 5 above and to pay Additional Rent as set forth in this Section 6 are independent of any obligation of Landlord under this Lease and that all Rent and Additional Rent (collectively and where no distinction is desired or required, “Rent”) are payable to Landlord or its Lender and their successors and assigns, ELECTRONICALLY FILED - 2020 Jun 29 9:24 AM Feb 14 2:23 PM - GREENVILLE - COMMON PLEAS - CASE#2020CP2300012 notwithstanding any claim of default by Landlord as may exist hereunder and without any self-effecting right or privilege of set-off, off-set deduction, abatement, or reduction whatsoever. In other words, Rent is a separate covenant. Additional Rent shall be remitted and prorated in the same fashion as Base Rent.

Appears in 1 contract

Samples: Asset Transfer Agreement

Additional Payment Obligations. It is the express intention of both Landlord and Tenant that Tenant’s payments of Base Rent and other sums in consideration of the occupancy and Option rights granted herein shall relieve Landlord of all debt service and operational cost obligations associated with the Premises, except to the extent specifically excepted or stipulated hereinafter. Accordingly, any sums payable by Tenant under this Section 6 shall be additional rent and collectible as such (collectively, such payment obligations arising under this Section 6 being referred to herein as “Additional Rent”). Tenant expressly acknowledges, covenants and agrees that Tenant’s obligation to pay Base Rent under Section 5 above and to pay Additional Rent as set forth in this Section 6 are independent of any obligation of Landlord under this Lease and that all Rent and Additional Rent (collectively and where no distinction is desired or required, “Rent”) are payable to Landlord or its Lender and their successors and assigns, ELECTRONICALLY FILED - 2020 Jun 29 9:24 AM - GREENVILLE - COMMON PLEAS - CASE#2020CP2300012 notwithstanding any claim of default by Landlord as may exist hereunder and without any self-effecting right or privilege of set-off, off-set deduction, abatement, or reduction whatsoever. In other words, Rent is a separate covenant. Additional Rent shall be remitted and prorated in the same fashion as Base Rent.. ELECTRONICALLY FILED - 2020 Jun 29 9:24 AM - GREENVILLE - COMMON PLEAS - CASE#2020CP2300012

Appears in 1 contract

Samples: Asset Transfer Agreement

Additional Payment Obligations. It is the express intention of both Landlord and Tenant that Tenant’s payments of Base Rent and other sums in consideration of the occupancy and Option rights granted herein shall relieve Landlord of all debt service and operational cost obligations associated with the Premises, except to the extent specifically excepted or stipulated hereinafter. Accordingly, any sums payable by Tenant under this Section 6 shall be additional rent and collectible as such (collectively, such payment obligations arising under this Section 6 being referred to herein as “Additional Rent”). Tenant expressly acknowledges, covenants and agrees that Tenant’s obligation to pay Base Rent under Section 5 above and to pay Additional Rent as set forth in this Section 6 are independent of any obligation of Landlord under this Lease and that all Rent and Additional Rent (collectively and where no distinction is desired or required, “Rent”) are payable to Landlord or its Lender and their successors and assigns, ELECTRONICALLY FILED - 2020 Jun 29 9:24 AM - GREENVILLE - COMMON PLEAS - CASE#2020CP2300012 notwithstanding any claim of default by Landlord as may exist hereunder and without any self-effecting right or privilege of set-off, off-set deduction, abatement, or reduction whatsoever. In other words, Rent is a separate covenant. Additional Rent shall be remitted and prorated in the same fashion as Base Rent.. ELECTRONICALLY FILED - 2020 Feb 14 2:23 PM - GREENVILLE - COMMON PLEAS - CASE#2020CP2300012

Appears in 1 contract

Samples: Asset Transfer Agreement

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Additional Payment Obligations. It is the express intention of both Landlord and Tenant that Tenant’s payments of Base Rent and other sums in consideration of the occupancy and Option rights granted herein shall relieve Landlord of all debt service and operational cost obligations associated with the Premises, except to the extent specifically excepted or stipulated hereinafter. Accordingly, any sums payable by Tenant under this Section 6 shall be additional rent and collectible as such (collectively, such payment obligations arising under this Section 6 being referred to herein as “Additional Rent”). Tenant expressly acknowledges, covenants and agrees that Tenant’s obligation to pay Base Rent under Section 5 above and to pay Additional Rent as set forth in this Section 6 are independent of any obligation of Landlord under this Lease and that all Rent and Additional Rent (collectively and where no distinction is desired or required, “Rent”) are payable to Landlord or its Lender and their successors and assigns, ELECTRONICALLY FILED - 2020 Jun 29 9:24 AM Feb 07 2:40 PM - GREENVILLE - COMMON PLEAS - CASE#2020CP2300012 notwithstanding any claim of default by Landlord as may exist hereunder and without any self-effecting right or privilege of set-off, off-set deduction, abatement, or reduction whatsoever. In other words, Rent is a separate covenant. Additional Rent shall be remitted and prorated in the same fashion as Base Rent.

Appears in 1 contract

Samples: Lease Agreement

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