Amount and Manner of Payment of Rent Sample Clauses

Amount and Manner of Payment of Rent. Lessee shall pay to Lessor in lawful money of the United States, as partial payment of rent, Two Million Dollars ($2,000,000) (the "Initial Rent"), One Million Two Hundred Twenty One Thousand Dollars ($1,221,000) of which shall be paid by wire transfer to an account designated by Lessor and Seven Hundred Seventy Nine Thousand Dollars ($779,000) of which shall be paid by wire transfer to First Union National Bank (the "Escrow Agent") to be held and disbursed by the Escrow Agent pursuant to an escrow agreement mutually satisfactory to Lessor, Lessee and the Escrow Agent (the "Escrow Agreement"), for mechanical upgrades to the Premises, including without limitation those items set forth in Exhibit A and other items required to bring the Premises into compliance with Legal Requirements (as that term is defined in Section 4.4) to the extent it is not in compliance with Legal Requirements as of the Commencement Date ("the Required Improvements"). In addition, the funds held in the Escrow Account may be used to pay the approximately $190,000 cost of a generator previously ordered by Lessor and to reimburse Lessor for any down payment made in connection therewith. At the Closing (as that term is defined in Annex A), Lessor shall repay Brim Hospitals, Inc. ("Brim"), an affiliate of Lessee, out of the Initial Rent, the outstanding principal amount due under a $221,000 loan previously made by Brim to Lessee, without interest thereon. In the event that the amount held by the Escrow Agent is insufficient the pay for the costs of the Required Improvements (including the generator referred to in the preceding paragraph), Lessee shall pay any such deficiency, and Lessor shall have no further obligation to pay for the remainder of the costs associated therewith. In addition, Lessor shall not be required to spend on any item set forth in Exhibit A more that the amount set forth opposite such item therein. In the event that, at anytime during the term of this Lease, Lessee wrongfully terminates this Lease or defaults under this Lease and Lessor is permitted and does terminate this Lease as a result of such default, Lessee shall forfeit any claim it may have to the Initial Rent. In the event that, at anytime during the first year of the term of this Lease, Lessor wrongfully terminates this Lease or defaults under this Lease and Lessee is permitted and does terminate this Lease as a result of such default, Lessor shall forfeit and immediately repay the full amount of the Initi...
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Amount and Manner of Payment of Rent. On the date hereof, Lessee shall pay to Lessor, as partial prepayment of rent for the Initial Term, Thirty Thousand Dollars ($30,000) (the "Initial Rent"). On the sixth anniversary of the date of this Lease, Lessee shall pay to Lessor an additional prepayment of rent in the amount of One Hundred Thousand Dollars ($100,000) (the "Additional Rent"). In the event Lessee elects to extend the term of this Lease for the Extended Term, Lessee shall pay to Lessor an additional prepayment of rent in the amount of One Hundred Fifty Thousand Dollars ($150,000) (the "Extended Term Rent"). In the event that, at anytime during the term of this Lease, Lessee wrongfully terminates this Lease or defaults under this Lease and Lessor is permitted and does terminate this Lease as a result of such default, Lessee shall forfeit any claim it may have to the Initial Rent, Additional
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Amount and Manner of Payment of Rent. Lessee shall pay to Lessors in lawful money of the United States, as prepayment of all rent payable hereunder for the Term, the aggregate amount of One Hundred Fifty Million Dollars ($150,000,000) (the "Rent"). One Hundred Thirty-Eight Million Dollars ($138,000,000) of the Rent shall be paid by wire transfer to one or more accounts designated by Lessors prior to Closing as defined in the Asset Purchase Agreement attached hereto (the "Asset Purchase Agreement"). The remaining Twelve Million Dollars ($12,000,000) of the Rent (the "Escrowed Funds") shall by paid by wire transfer at Closing to an escrow account established by the parties as described in Section 10 of the Asset Purchase Agreement.
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Amount and Manner of Payment of Rent. As of the date hereof, Lessee had paid to Lessor in lawful money of the United States, as partial prepayment of rent for the Primary Term, the amount of Two Million Dollars ($2,000,000.00), by wire transfer to an account designated by Lessor. As additional rent for the Primary Term, Lessee shall pay to Lessor (a) the annual amount of Ten Thousand Dollars ($10,000.00) within ten (10) business days after the end of each Lease Year, and (b) a single payment of Seven Hundred Thousand Dollars ($700,000.00) within ten (10) business days after the expiration of the Primary Term; provided, however, such final payment shall be equitably prorated in the event this lease expires prior to February 14, 2030. The rent payable during any Extended Term hereof shall be One Million Dollars ($1,000,000.00) per each such additional term.
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Amount and Manner of Payment of Rent 
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Related to Amount and Manner of Payment of Rent

  • Collection of Rent In any case where State has a cause of action for damages, State shall have the privilege of splitting the cause to permit the institution of a separate suit for rent due hereunder, and neither institution of any suit, nor the subsequent entry of judgment shall bar State from bringing another suit for rent; it being the purpose of this provision to provide that the forbearance on the part of State in any suit or entry of judgment for any part of the rent reserved under this Contract, to sue for, or to include in, any suit and judgment the rent then due, shall not serve as defense against, nor prejudice a subsequent action for, rent or other obligations due under the Contract. The claims for rent may be regarded by State, if it so elects, as separate claims capable of being assigned separately.

  • Collection of Rents Upon the occurrence of an Event of Default, the license granted to Mortgagor to collect the Rents shall be automatically and immediately revoked, without further notice to or demand upon Mortgagor. Mortgagee may, but shall not be obligated to, exercise any or all of the rights and remedies provided in Section 697.07 of the Florida Statutes and perform any or all obligations of the landlord under any or all of the Leases, and Mortgagee may, but shall not be obligated to, exercise and enforce any or all of Mortgagor’s rights under the Leases. Without limiting the generality of the foregoing, Mortgagee may notify the tenants under the Leases that all Rents are to be paid to Mortgagee, and following such notice all Rents shall be paid directly to Mortgagee and not to Mortgagor or any other Person other than as directed by Mortgagee, xx xxxxg understood that a demand by Mortgagee on any tenant under the Leases for the payment of Rent shall be sufficient to warrant payment by such tenant of Rent to Mortgagee without the necessity of further consent by Mortgagor. Mortgagor hereby irrevocably authorizes and directs the tenants under the Leases to pay all Rents to Mortgagee instead of to Mortgagor, upon receipt of written notice from Mortgagee, without the necessity of any inquiry of Mortgagor xxx xxxxout the necessity of determining the existence or non-existence of an Event of Default. Mortgagor hereby appoints Mortgagee as Mortgagor’x xxxxxxey-in-fact with full power of substitution, which appointment shall take effect upon the occurrence of an Event of Default and is coupled with an interest and is irrevocable prior to the full and final payment and performance of the Obligations, in Mortgagor’x xxxx xr in Mortgagee’s name: (a) to endorse all checks and other instruments received in payment of Rents and to deposit the same in any account selected by Mortgagee; (b) to give receipts and releases in relation thereto; (c) to institute, prosecute and/or settle actions for the recovery of Rents; (d) to modify the terms of any Leases including terms relating to the Rents payable thereunder; (e) to cancel any Leases; (f) to enter into new Leases; and (g) to do all other acts and things with respect to the Leases and Rents which Mortgagee may deem necessary or desirable to protect the security for the Obligations. Any Rents received shall be applied first to pay all Expenses and next in reduction of the other Obligations. Mortgagor shall pay, on demand, to Mortgagee, the amount of any deficiency between (i) the Rents received by Mortgagee, and (ii) all Expenses incurred together with interest thereon as provided in the Loan Agreement and the other Loan Documents.

  • Payment of Rent If the tenant is required to pre-pay rent in advance it should be selected. This is common with tenants with no or bad credit history. Section XIII.

  • PAYMENT OF RENTS Unless deferred by UCF DHRL, all housing rents relating to a specific period are due no later than the dates shown on the Housing Agreement: Cancellation Fees and Important Dates Schedule for the semester the Student will be in residence. Students who are assigned a room after the rent due date are granted an automatic extension of the due date to 14 days from the date the room assignment is made. UCF DHRL will NOT send an invoice or billing statement to the Student. Payments are due on a semester-by-semester basis. The amount of each payment is shown in the Room Rates: Applicable Rates Schedule. Payments are due on or before the due dates shown in the Housing Agreement: Cancellation Fees and Important Dates Schedule applicable to the length of the agreement the Student and UCF DHRL agree to. Students with an agreement for a summer residence will make only one payment, depending on which session(s) the Student is residing in Housing. Residents staying for both summer session A and summer session B owe the amounts shown for summer session C, and due dates are those shown for summer session C. Please refer to the Housing Agreement: Cancellation Fees and Important Dates Schedule for payment due dates.

  • Payment of Additional Rent In addition to the Minimum Annual Rent specified in this Lease, Tenant shall pay to Landlord as "Additional Rent" for the Leased Premises, in each calendar year or partial calendar year, during the Lease Term, an amount equal to the Annual Rental Adjustment excluding Real Estate Taxes for such calendar year or partial calendar year. In the case of the calendar year of the Commencement Date, Landlord shall provide such notice prior to the Commencement Date. The Annual Rental Adjustment excluding Real Estate Taxes shall be estimated annually by Landlord, and written notice thereof shall be given to Tenant prior to the beginning of each calendar year. Tenant shall pay to Landlord each month, at the same time the Monthly Rental Installment is due, an amount equal to one-twelfth (1/12) of the estimated Annual Rental Adjustment excluding Real Estate Taxes. If the cost of utility, janitorial or other services increase during a calendar year, Landlord may increase the estimated Annual Rental Adjustment excluding Real Estate Taxes during such year by giving Tenant written notice to that effect, and thereafter Tenant shall pay to Landlord, in each of the remaining months of such year, an amount equal to the amount of such increase in the estimated Annual Rental Adjustment excluding Real Estate Taxes for the remainder of the year divided by the number of months remaining in such year. Within a reasonable time after the end of each calendar year, Landlord shall prepare and deliver to Tenant a statement showing the actual Annual Rental Adjustment excluding Real Estate Taxes. Within thirty (30) days after receipt of the aforementioned statement, Tenant shall pay to Landlord, or Landlord shall credit against the next rent payment or payments due from Tenant, as the case may be, the difference between the actual Annual Rental Adjustment excluding Real Estate Taxes for the preceding calendar year and the estimated amount paid by Tenant to Landlord during such year. In addition, Tenant shall pay, before delinquency, any and all Real Estate Taxes as defined in Section 3.02.D, above, directly to the appropriate taxing authority. If Tenant fails for any reason to pay the Real Estate Taxes when same is due and payable, Landlord shall have the right, but not the obligation, to pay the Real Estate Taxes directly to the taxing authority and Tenant shall immediately reimburse Landlord for the cost thereof. Such amount shall accrue interest from the date Landlord pays such amount, pursuant to Section 3.04, below, shall include any penalties, late fees and any interest assessed due to such delinquency. Tenant or its accountants shall have the right to inspect, at reasonable time and in a reasonable manner, during the one hundred twenty (120) day period following the delivery of Landlord's statement of the actual amount of the Annual Rental Adjustment excluding Real Estate Taxes, such of Landlord's books of account and records as pertain to and contain information concerning such costs and expenses for the Building for the prior calendar year in order to verify the amounts thereof. In the event the first audit discloses (i) errors made during the prior calendar year which, when totaled, indicate that the sum overcharged to and paid by Tenant, exceeds five percent (5%) of the Annual Rental Adjustment excluding Real Estate Taxes plus Landlord's Share of Operating Expenses (the "Total Expenses"), the audit shall be at the expense of Landlord, not to exceed Two Thousand Five Hundred Dollars ($2,500.00), or (ii) no errors or an error which equals or is less than five percent (5%) of the Total Expenses, the audit shall be at the expense of Tenant. For each subsequent audit, where the audit discloses errors exceeding five percent (5%) of the Total Expenses, Landlord shall pay for such audit and, if the audit discloses errors equal to or less than five percent (5%) of the Total Expenses, Tenant shall pay the costs of the audit. If Landlord spends more than eight (8) hours to accommodate Tenant's right to audit hereunder, Tenant shall also pay to Landlord as additional rent Seventy-five Dollars ($75.00) per hour for each additional hour that Tenant's audit takes of Landlord's property manager's or asset manager's time, provided such audit discloses no error or an error greater than five percent (5%) of the Total Expenses. The results of the audit (regardless of the degree of the error, if any) shall be binding upon Landlord and Tenant, and Landlord shall thereafter, if appropriate, change its method of calculating the Operating Expenses consistent with the results of the audit. Tenant agrees to hold the information obtained from such audit confidential and shall not disclose the same without Landlord's express written permission except as necessary to enforce the Lease or protect Tenant's rights hereunder. If Tenant shall not elect to cause an audit within the time period permitted hereby, then Landlord's statement shall be conclusively deemed to have been approved and accepted by Tenant. Pending resolution of any dispute with respect to statements of Tenant's Annual Rental Adjustment, Tenant shall pay its Annual Rental Adjustment as shown on such statement, and upon final determination of the amount of Tenant's Annual Rental Adjustment, Landlord shall promptly refund any overpayment to Tenant or Tenant shall promptly pay any amount due to Landlord, as applicable.

  • Late Payment of Rent If any installment of Base Rent or Additional Charges (but only as to those Additional Charges which are payable directly to Lessor or Lessor’s agent or assignee) shall not be paid within five (5) Business Days after its due date, Tenant will pay to Lessor on demand 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 Tenant pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due. If any Facility Mortgagee shall so require, or if any Additional Charges shall not be paid to a third party payee within five (5) Business Days after its due date, Lessor may at any time thereafter, at Lessor’s option, require Tenant to deposit into an escrow account under the sole dominion and control of Lessor (or the applicable Facility Mortgagee), on the first day of each and every month, an amount sufficient to insure that such escrow account shall contain an amount sufficient to make such payment on its next due date, in which event Lessor shall make all future payments for such expense from the escrow account. In the event of any failure by Tenant to pay any Additional Charges when due, Tenant shall promptly pay and discharge, as Additional Charges, every fine, penalty, interest and cost that may be added for non-payment or late payment of such items. 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 Rent.

  • Loan and Terms of Payment 2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions and accrued and unpaid interest thereon as and when due in accordance with this Agreement.

  • Loans and Terms of Payment 2.1 [Reserved].

  • Payment of Additional Costs If termination of this contract is due to the failure of the Engineer to fulfill its contract obligations, the State may take over the project and prosecute the work to completion, and the Engineer shall be liable to the State for any additional cost to the State.

  • Calculation of Rent All calculation of Rent payable hereunder shall be computed based on the actual number of days elapsed over a year of three hundred sixty (360) days or, to the extent such Rent is based on the Prime Lending Rate, three hundred sixty-five (365) (or three hundred sixty-six (366), as applicable) days.

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