Common use of ADVANCE RENTAL Clause in Contracts

ADVANCE RENTAL. Until this Agreement is sooner terminated, Lessee shall pay to Lessor Advance Rentals according to the following schedule: Seven Thousand Five Hundred ($7,500.00) dollars upon the execution of this Agreement for the first year commencing the date of this Agreement and ending on the first anniversary thereof. Commencing with the first anniversary of this Agreement and ending on the fifth anniversary of this Agreement, the then Advance Rental shall increase Twenty-Five Hundred ($2,500) dollars until the annual Advance Rental is Twenty Thousand ($20,000.00) dollars. Commencing with the fifth anniversary of this Agreement through the ninth anniversary of this Agreement, the annual Advance Rental shall be Twenty Thousand ($20,000.00) dollars. The Advance Rental after the initial amount shall be due on the anniversary date of this Agreement commencing with the first anniversary and ending with the ninth anniversary thereof. Payments of the Advance Rental received within fifteen calendar days of the anniversary due date will be deemed timely made. The Advance Rental payments payable to Lessor pursuant to this paragraph shall be credited to and recoverable from Production Rental payments payable by Lessee to Lessor, as provided below. Said right of recovery shall apply to the first such Production Rental payment accruing and shall continue thereafter until Lessee has recovered the full amount of previously paid Advance Rental payments.

ADVANCE RENTAL. Until this Agreement is sooner terminated, Lessee shall pay to Lessor Advance Rentals according to the following schedule: Seven Thousand Five Hundred ($7,500.00) dollars upon the execution of this Agreement for the first year commencing the date of this Agreement and ending on the first anniversary thereof. Commencing with the first anniversary of this Agreement and ending on the fifth anniversary of this Agreement, the then Advance Rental shall increase Twenty-Five Hundred ($2,500) dollars until the annual Advance Rental is Twenty Thousand ($20,000.002.0,000.00) dollars. Commencing with the fifth anniversary of this Agreement through the ninth anniversary of this Agreement, the annual Advance Rental shall be Twenty Thousand ($20,000.00) dollars. The Advance Rental after the initial amount shall be due on the anniversary date of this Agreement commencing with the first anniversary and ending with the ninth anniversary thereof. thereof Payments of the Advance Rental received within fifteen calendar days of the anniversary due date date; will be deemed timely made. The Advance Rental payments payable to Lessor pursuant to this paragraph shall be credited to and recoverable from Production Rental payments payable by Lessee to Lessor, as provided below. Said right of recovery shall apply to the first such Production Rental payment accruing and shall continue thereafter until Lessee has recovered the full amount of previously paid Advance Rental payments.

ADVANCE RENTAL. Until this Agreement is sooner terminated, Lessee shall pay to Lessor Lessors Advance Rentals according to the following schedule: Seven Twenty Thousand Five Hundred ($7,500.0020,000.00) dollars upon payable on the execution of this Agreement date on which Lessee accepts the title to the Leased Premises in accordance with Section 2 for the first year commencing the date of this Agreement and ending on the first anniversary thereof. If Lessee terminates this Agreement in accordance with Section 2, Lessee shall have no obligation to pay the payment described in the foregoing sentence. Commencing with the first anniversary of this Agreement and ending on the fifth anniversary of this Agreement, the then Advance Rental shall increase Twenty-Five Hundred ($2,500) dollars until the annual Advance Rental is be Twenty Thousand ($20,000.00) dollars. Commencing with the fifth anniversary of this Agreement through the ninth anniversary of this Agreement, the annual Advance Rental shall be Twenty Forty Thousand ($20,000.0040,000.00) dollars. The Advance Rental after the initial amount shall be due on the anniversary date of this Agreement commencing with the first anniversary and ending with the ninth anniversary thereof. Payments of the Advance Rental received within fifteen thirty calendar days of the anniversary due date will be deemed timely made. The Advance Rental payments payable to Lessor pursuant to this paragraph shall be credited to and recoverable from Production Rental payments payable by Lessee to Lessor, as provided belowbelow in Section 8. Said right of recovery shall apply to the first such Production Rental payment accruing and shall continue thereafter until Lessee has recovered the full amount of previously paid Advance Rental payments. Lessee shall pay the payments to the individual Lessors in the proportions of their respective interests described in Section 3. By executing this Agreement, Xxxxxx X. Xxxxxxxxxxx is not waiving his Judgment and collection rights relative to Xxx X. Xxxx’x payments.