Common use of Annual Basic Rent Clause in Contracts

Annual Basic Rent. (a) Tenant agrees to pay Landlord the Annual Basic Rent for the Premises shown in Item 6 of the Basic Lease Provisions, payable in advance on the first day of each calendar month during the Term. If the term of this Lease commences or ends on a day other than the first day of a calendar month, then the Rental for such period shall be prorated in the proportion that the number of days this Lease is in effect during such period bears to thirty (30). In addition to the Annual Basic Rent, Tenant agrees to pay as additional Rental the amount of Rental adjustments and other charges required by this Lease. All Rental shall be paid to Landlord, without prior demand and without any deduction or offset, in lawful money of the United States of America, at the address of Landlord designated in the Basic Lease Provisions or to such other person or at such other place as Landlord may from time to time designate in writing. No demand, notice or invoice shall be required. (b) The Rental payable by Tenant shall be increased for each year of the term of this Lease by adjusting the Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of living, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined (the "Comparison Index"). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved under Section 3(a) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date). (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month period, Landlord shall have the option (i) to require that beginning with the first payment of Rental next due, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, then, and in either of such events, such increase or payment shall be made to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rental, or any portion thereof, or the sums payable hereunder, or portions thereof, the payment of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law.

Appears in 2 contracts

Samples: Industrial Space Lease (Alpha Technologies Group Inc), Industrial Space Lease (Alpha Technologies Group Inc)

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Annual Basic Rent. (a) Tenant agrees to pay Landlord the as Annual Basic Rent for the Premises shown the Annual Basic Rent ___________ (subject to adjustment as hereinafter provided) in Item 6 of the Basic Lease Provisionstwelve (12) equal monthly installments, payable each in advance on the first day of each calendar month during the Term, except that one (1) full installment of Monthly Basic Rent at the rate of ________ per Rentable Square Foot of the Premises shall be paid upon the execution of this Lease, with such Monthly Basic Rent to be applied as provided in Subparagraph 5(c) below. If the term Term of this Lease commences or ends on a day other than the first day of a calendar month, then the Rental rent for such period shall be prorated in the proportion that the number of days this Lease is in effect during such period bears to thirty (30)the actual number of days in such calendar month. In addition to the Annual Basic Rent, Tenant agrees to pay as additional Rental rent the amount of Rental rent adjustments and other charges required by this Lease. All Rental rent shall be paid to Landlord, without prior demand and without any deduction or offsetoffset (except as otherwise provided in Paragraph 64 and Exhibit "G"), in lawful money of the United States of America, at the address of Landlord designated in the Basic Lease Provisions ________________________ or to such other person or at such other place as Landlord may from time to time designate in writing. No demandFurther, notice or invoice all charges to be paid by Tenant hereunder, including, without limitation, payments for Operating Expenses, insurance, repairs and parking, shall be required. (b) The Rental payable by Tenant shall be increased considered additional rent for each year of the term purposes of this Lease, and the word rent" in this Lease by adjusting shall include such additional rent unless the context specifically or clearly implies that only Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of living, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined (the "Comparison Index"). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved under Section 3(a) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date)referenced. (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month period, Landlord shall have the option (i) to require that beginning with the first payment of Rental next due, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, then, and in either of such events, such increase or payment shall be made to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rental, or any portion thereof, or the sums payable hereunder, or portions thereof, the payment of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law.

Appears in 2 contracts

Samples: Sublease (Litronic Inc), Sublease (Litronic Inc)

Annual Basic Rent. (a) Tenant agrees to pay Landlord the as Annual Basic Rent for the Premises shown the Annual Basic Rent designated in Item 6 of the Subparagraph 1(q) (subject to adjustment as hereinafter provided) in twelve (12) equal monthly installments ("Monthly Basic Lease ProvisionsRent"), payable each in advance on of the first day of each and every calendar month during said term, except that the Termfirst month's rent shall be paid upon the execution hereof. If In the event the term of this Lease commences or ends on a day other than the first day of a calendar month, then the Rental rental for such period periods shall be prorated in the proportion that the number of days this Lease is in effect during such period periods bears to thirty (30), and such rental shall be paid at the commencement of such periods. In addition to the said Annual Basic Rent, Tenant agrees to pay as additional Rental the amount of Rental the rental adjustments as and other charges required by when hereinafter provided in this Lease. All Rental Said Annual Basic Rent, additional rent, and rental adjustments shall be paid to Landlord, without any prior demand therefor and without any deduction or offset, offset whatsoever in lawful money of the United States of America, which shall be legal tender at the time of payment, at the address of Landlord designated in the Basic Lease Provisions Subparagraph 1(B) or to such other person or at such other place as Landlord may from time to time designate in writing. No demandFurther, notice or invoice all charges to be paid by Tenant hereunder, including, without limitation, payments for real property taxes, insurance, repairs, and parking shall be required. (b) The Rental payable by Tenant shall be increased considered additional rent for each year of the term purposes of this Lease, and the word "rent" in the Lease by adjusting shall include such additional rent unless the context specifically or clearly implies that only the Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of living, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined (the "Comparison Index"). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved under Section 3(a) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date)referenced. (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month period, Landlord shall have the option (i) to require that beginning with the first payment of Rental next due, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, then, and in either of such events, such increase or payment shall be made to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rental, or any portion thereof, or the sums payable hereunder, or portions thereof, the payment of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law.

Appears in 1 contract

Samples: Lease Agreement (Synon Corp)

Annual Basic Rent. (a) Tenant agrees to pay Landlord the as Annual Basic Rent for the Premises as shown in Item 6 of the Basic Lease Provisions, Provisions payable in advance on the first day of each calendar month during the Termterm, except that the first month's rent shall be paid upon the execution hereof. If the term of this Lease commences or ends on a day other than the first day of a calendar month, then the Rental rental for such period shall be prorated in the proportion that the number of days this Lease is in effect during such period bears to thirty (30). In addition to the Annual Basic Rent, Tenant agrees to pay as additional Rental rental its pro rata share of the amount of Rental rental adjustments and other charges required by this Lease. All Rental rental shall be paid to Landlord, without prior demand and without any deduction or offset, in lawful money of the United States of America, at the address of Landlord designated in the Basic Lease Provisions provisions of this Lease, or to such other person or at such other place as Landlord may from time to time designate in writing. No demand, notice or invoice shall be required. (b) The Rental rental payable by Tenant shall be increased for as of the commencement of each year of during the term of this Lease by adjusting the Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of living, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined Year 1 $0.00 psf/mo (the "Comparison Index"). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved under Section 3(amonths 1 to 3) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior Year l $2.15 psf/mo (months 4 to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%12) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date).Year 2 $2.23 psf/mo Year 3 $2.30 psf/mo Year 4 $2.38 psf/mo Year 5 $2.47 psf/mo (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the BuildingPremises. Accordingly, if any installment of Rental rent or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then Tenant shall pay to Landlord, in addition to any interest required to be paid by this Lease, a late charge in the unpaid amounts shall bear interest at the rate amount of one and one-half ten percent (1-1/210%) per month from of the date due to the date delinquent installment of payment (the "Late Charge")rent. The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month period, Landlord shall have the option (i) to require that beginning with the first payment of Rental next due, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease Lease, any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental rent or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, then, and in either of such events, such increase or payment shall be made to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rentalrent, or any portion thereof, or the other sums payable hereunder, or portions thereof, the payment of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law.

Appears in 1 contract

Samples: Office Space Lease (Stentor Inc)

Annual Basic Rent. (a) Tenant agrees to pay Landlord the as Annual Basic Rent for the Premises shown the Annual Basic Rent designated in Item 6 of the Basic Lease ProvisionsParagraph 1 (subject to adjustment as hereinafter provided) in twelve (12) equal monthly installments, payable each in advance on the first day of each and every calendar month during daring the Term, except that the first month's rental shall be paid upon the execution hereof. If In the term event the Term of this Lease commences or ends on a day other than the first day of a calendar month, then the Rental rental for such period periods shall be prorated in the proportion that the number of days this Lease is in effect during such period bears periods hears to thirty (30), and such rental shall be paid at the commencement of such periods. In addition to the said Annual Basic Rent, Tenant agrees to pay as additional Rental the amount of Rental the rental adjustments as and other charges required by when hereinafter provided in this Lease. All Rental Said Annual Basic Rent, rental adjustments and amount designated as additional rent hereunder shall be paid to Landlord, Landlord without any prior demand therefor and without any deduction or offset, offset whatsoever in lawful money of the United States of America, which shall be legal tender at the time of payment, at the address of Landlord designated in the Basic Lease Provisions Paragraph 1 or to such other person or at such other place as Landlord may from time to time designate in writing. No demandAll charges to be paid by Tenant hereunder, notice or invoice including without limitation, the payments for real property taxes, insurance, repairs and parking (if any) shall be required. (b) The Rental payable by Tenant shall be increased considered additional rent for each year of the term purposes of this Lease, and the word "rent" in this Lease by adjusting shall include such additional rent unless the context specifically or clearly implies that only the Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of living, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined (the "Comparison Index"). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved under Section 3(a) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date)referenced. (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month period, Landlord shall have the option (i) to require that beginning with the first payment of Rental next due, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, then, and in either of such events, such increase or payment shall be made to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rental, or any portion thereof, or the sums payable hereunder, or portions thereof, the payment of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law.

Appears in 1 contract

Samples: Office Lease (Lucys Cafe Inc)

Annual Basic Rent. (a) Tenant agrees to pay Landlord the as Annual Basic Rent for the Premises shown the Annual Basic Rent designated in Item 6 of the Subparagraph 1(q) (subject to adjustment as hereinafter provided) in twelve (12) equal monthly installments ("Monthly Basic Lease ProvisionsRent"), payable each in advance on the first day of each and every calendar month during said Term, except that the Termfirst month's rent shall be paid upon the execution hereof. If In the event the term of this Lease commences or ends on a day other than the first day of a calendar month, . then the Rental rental for such period periods shall be prorated in the proportion that the number of days this Lease is in effect during such period periods bears to thirty (30), and such rental shall be paid at the commencement of such periods. In addition to the said Annual Basic Rent, Tenant agrees to pay as additional Rental the amount of Rental the rental adjustments as and other charges required by when hereinafter provided in this Lease. All Rental Said Annual Basic Rent. additional rent, and rental adjustments shall be paid to Landlord, without any prior demand therefor and without any deduction or offset, offset whatsoever in lawful money of the United States of America, which shall be legal tender at the time of payment, at the address of Landlord designated in the Basic Lease Provisions Subparagraph 1(b) or to such other person or at such other place as Landlord may from time to time designate in writing. No demandFurther, notice or invoice all charges to be paid by Tenant hereunder, including, without limitation, payments for real property taxes, insurance, repairs, and parking shall be required. (b) The Rental payable by Tenant shall be increased considered additional rent for each year of the term purposes of this Lease, and the word "rent" in this Lease by adjusting shall include such additional rent unless the context specifically or clearly implies that only the Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of livingis referenced. See Page 19, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined (the "Comparison IndexADJUSTED BASIC RENT"). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved under Section 3(a) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date). (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month period, Landlord shall have the option (i) to require that beginning with the first payment of Rental next due, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, then, and in either of such events, such increase or payment shall be made to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rental, or any portion thereof, or the sums payable hereunder, or portions thereof, the payment of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law.

Appears in 1 contract

Samples: Lease Agreement (Synon Corp)

Annual Basic Rent. (a) Tenant Xxxxxx agrees to pay Landlord the as Annual Basic Rent for the Premises shown the Annual Basic Rent designated in Item 6 of the Basic Lease ProvisionsParagraph I (subject to adjustment as hereinafter provided) in twelve (12) equal monthly installments, payable each in advance on the first day of each and every calendar month during the Term, except that the first month’s rent shall be paid upon the execution hereof. If In the term event the Term of this Lease commences or ends on a day other than the first day of a calendar month, then the Rental rental for such period periods shall be prorated in the proportion that the number of days this Lease is in effect during such period periods bears to thirty (30), and such rental shall be paid at the commencement of such periods. In addition to said Annual Basic Rent. Xxxxxx agrees to pay the amount of the rental adjustments as and when hereinafter provided in this Lease. Said Annual Basic Rent, Tenant agrees to pay rental adjustments and amounts designated as additional Rental the amount of Rental adjustments and other charges required by this Lease. All Rental rent hereunder shall be paid to Landlord, without any prior demand therefore and without any deduction or offset, offset whatsoever in lawful money of the United States of America, which shall be legal tender at the time of payment, at the address of Landlord designated in the Basic Lease Provisions Paragraph I or to such other person or at such other place as Landlord may from time to time designate in writing. No demandAll charges to be paid by Tenant hereunder, notice or invoice including, without limitation, payments for real property taxes, insurance, repairs and parking (if any) shall be requiredconsidered additional rent for the purposes of this Lease, and the word “rent” in this Lease shall include such additional rent unless the context specifically or clearly implies that only the Annual Basic Rent is referenced. (b) The Rental payable by Tenant Annual Basic Rent shall be increased for each year effective the first day of the term thirty-first (31) month of the Term of this Lease and every thirty (30) months thereafter (Adjustment Date) in accordance with percentage increases, if any, in the Consumer Price Index S.F. – OAKLAND - SAN XXXX Base Dec. 1977-100 Index”), as published by adjusting the United States Department of Labor. Bureau of Labor Statistics. The Index for each Adjustment Date during the term at the Lease shall be compared with the Index for the preceding Adjustment Date and the Annual Basic Rent reserved then in Section 3(a) to reflect any increase in the cost of living, which adjustment effect shall be determined as follows: On each increased in accordance with the percentage increase, if any, between such Adjustment Date Indexes. In no event shall the most recently published Index figure shall Annual Basic Rent, as adjusted, be determined (the "Comparison Index"). The monthly Rental payable for the succeeding year of the Lease Term shall be less than the Annual Basic Rent reserved under Section 3(a) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published in effect immediately prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date). (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month periodadjustment, Landlord shall have the option (i) to require that beginning with the first payment calculate and give Tenant written notice of Rental next due, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, then, and in either of such events, such increase or payment shall be made to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rentalthe Annual Basic Rent and Tenant shall pay the increased Annual Basic Rent. Should the Bureau discontinue the publication of the index, or any portion thereofpublish the same less frequently, or alter the sums payable hereunder, or portions thereofsame in some other manner, the payment of parties shall adopt a substitute index or procedure which has been so prohibited or postponed, shall thereafter become due reasonably reflects and payable to the maximum extent and at the earliest time or times permitted by lawmonitors consumer prices.

Appears in 1 contract

Samples: Office Lease (Placer Sierra Bancshares)

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Annual Basic Rent. (a) Tenant agrees to pay Landlord the as Annual Basic Rent for the Premises shown the sum of (SEE ADDENDUM, ITEM #50 AND #51) ------------------------------- Dollars ($ ____________________________) (subject to adjustment as hereinafter provided) in Item 6 twelve equal monthly installments of the Basic Lease Provisions(SEE ADDENDUM, payable ITEM #50 AND #51) ---------------------------- Dollars ($ ___________________) each, in advance on the first day of each calendar month during the Termterm, except that the first month's rent shall be paid upon the execution hereof. If the term of this Lease commences or ends on a day other than the first day of a calendar month, then the Rental rental for such period shall be prorated in the proportion that the number of days this Lease is in effect during such period bears to thirty (30)thirty. In addition to the Annual Basic Rent, Tenant agrees to pay as additional Rental rental the amount of Rental rental adjustments and other charges required by this Lease. All Rental rental shall be paid to Landlord, without prior demand and without any deduction or offset, in lawful money of the United States of America, at the address of Landlord designated in at the Basic end of this Lease Provisions or to such other person or at such other place as Landlord may from time to time designate in writing. No demand, notice or invoice shall be required. (b) The Rental payable by Tenant shall be increased for each year of the term of this Lease by adjusting the Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of living, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined (the "Comparison Index"). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved under Section 3(a) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date). (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month period, Landlord shall have the option (i) to require that beginning with the first payment of Rental next due, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, then, and in either of such events, such increase or payment shall be made to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rental, or any portion thereof, or the sums payable hereunder, or portions thereof, the payment of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law.[INITIAL APPEARS HERE]

Appears in 1 contract

Samples: Office Building Lease (Virtual Mortgage Network Inc)

Annual Basic Rent. (As used in Paragraph 5, “Annual” and “Year” refer to twelve (12)-month periods based on the Lease term Commencement Date and each anniversary thereof, and not to calendar year.) (a) Tenant agrees to pay Landlord the as Annual Basic Rent for the Premises shown the Annual Basic Rent designated in Item 6 of the Basic Lease ProvisionsParagraph 1 (subject to adjustment as provided in Paragraph 1) in twelve (12) equal monthly installments, payable each in advance on the first day of each and every calendar month during said term, except that the Termfirst month’s rent shall be paid upon the execution hereof. If In the term event the Term of this Lease commences or ends on a day other than the first day of a calendar month, then (i) the Rental rental for such period periods shall be prorated in the proportion that the number of days this Lease is in effect during such period periods bears to thirty (30), and such rental shall be paid at the commencement of such periods and (ii) the Term shall begin on such date and shall include such partial month as well as the number of months specified for the Term in Paragraph 1. In addition Tenant hereby acknowledges that Landlord shall not send monthly statements and invoices as a condition to the Annual Basic Rent, Tenant agrees to pay as additional Rental the amount of Rental adjustments and other charges required by paying any rent due under this Lease. All Rental shall be paid to Landlord, without prior demand and without any deduction or offset, in lawful money of the United States of America, at the address of Landlord designated in the Basic Lease Provisions or to such other person or at such other place as Landlord may from time to time designate in writing. No demand, notice or invoice shall be required. (b) The Rental amounts payable by Tenant shall be increased for each year to or on behalf of the term of this Lease by adjusting the Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of living, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined (the "Comparison Index"). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved Landlord under Section 3(a) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date). (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are whether or not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month period, Landlord shall have the option (i) to require that beginning with the first payment of Rental next due, Rental shall no longer be paid in monthly installments but expressly denominated as “rent” shall be payable quarterly three considered rent (3x) months in advance, and also to require that Tenant increase the amount, if any, for purposes of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, thenexcept as expressly stated herein, and in either (y) for purposes of such events, such increase or payment shall be made to Section 502(b)(6) of the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rental, or any portion thereof, or the sums payable hereunder, or portions thereof, the payment of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law.Bankruptcy Code (Title 11 U.S.

Appears in 1 contract

Samples: Office Lease (Solar Power, Inc.)

Annual Basic Rent. (a) Tenant agrees to shall pay Landlord as consideration for the use and enjoyment of the Premises the Annual Basic Rent designated in Section 1(k) (subject to adjustment as hereinafter provided and except for the Premises shown months when Annual Basic Rent is abated) in Item 6 of twelve (12) equal monthly installments, except as may be specified to the Basic Lease Provisionscontrary in Subsection 1(k), payable each in advance on the first day of each calendar month during the TermTerm commencing on the Commencement Date. If the term Term of this Lease commences or ends on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, then the Rental Rent for such period shall be prorated in on the proportion that the number basis of days this Lease is in effect during such period bears to a thirty (30)) day month. In addition to the Annual Basic Rent, Tenant agrees to pay as additional Rental Additional Rent the amount of Rental Rent adjustments and other charges required by this Lease. Other charges to be paid by Tenant hereunder, including, without limitation, payments for Operating Expenses, Real Property Taxes, insurance, and repairs, shall be considered "Additional Rent" for purposes of this Lease. The term "Rent" as used in this Lease shall mean Annual Basic Rent and Additional Rent and all other amounts payable by Tenant pursuant to this Lease. When no other time is stated herein for payment, payment of any amount due from Tenant to Landlord hereunder shall be made within thirty (30) days after Tenant's receipt of Landlord's invoice or statement therefor and all other payments are to be made prior to delinquency. All Rental Rent shall be paid to Landlord, without prior demand and without any deduction or offset, offset (except as otherwise provided in Section 24(g) of this Lease and Section 6.2 of the Work Letter) in lawful money of the United States of America, at the address of Landlord designated in the Basic Lease Provisions Section 1(b) hereof or to such other person or at such other place as Landlord may from time to time designate in writing. No demand, notice or invoice shall be required. (b) The Rental payable If Tenant fails to pay any installment of Rent or any other payment for which Tenant is obligated under this Lease when due, Tenant shall pay to Landlord any interest assessed on account of such late payment and if such late payment was to be paid to Landlord, such late amount shall accrue interest as Additional Rent on such delinquent amount at the lesser of the then prevailing prime rate of Bank of America, or if not available, a similar financial institution ("Prime Rate") plus three (3) percentage points or the maximum rate permitted by law (the “Interest Rate”) from the date such amount became due until such amount is paid (if such payment was due to a third party other than Landlord, Tenant shall be increased liable to pay for each year of the term of this Lease by adjusting the Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of living, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined (the "Comparison Index"late charge or interest assessed). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved under Section 3(a) increased by the same percentageTHE PARTIES AGREE THAT A LATE PAYMENT MAY CAUSE LANDLORD TO INCUR COSTS AND OTHER DAMAGE, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date). (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by TenantTHE EXACT AMOUNT OF WHICH WOULD BE IMPRACTICABLE OR EXTREMELY DIFFICULT TO ASCERTAIN AND THAT SUCH INTEREST REPRESENTS A FAIR AND REASONABLE ESTIMATE OF THE DETRIMENT THAT LANDLORD WILL SUFFER BY REASON OF LATE PAYMENT BY TENANT. Acceptance of any such late charge by Landlord interest shall in no event not constitute a waiver of the Tenant's default Default with respect to such the overdue amount, nor or prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord hereunder or at law. (dc) In the event If any payment of any two consecutive late payments of Rental within any twelve (12) month periodrent made by check, draft or money order is returned to Landlord due to insufficient funds, or otherwise, Landlord shall have the option (i) to require that beginning with the first payment of Rental next dueright, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term thereafter, to require Tenant to make all subsequent payments of this Lease any governmental law, rule Rent by cashier's or regulation prohibits or postpones in whole or in part any increase in the Rental or in the certified check. Any payment of other sums payable by Tenant hereunder returned to be made pursuant to this Lease, then, and in either of such events, such increase or payment Landlord shall be made subject to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rental, or any portion thereof, or the sums payable hereunder, or portions thereof, the payment a handling charge of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law$50.00.

Appears in 1 contract

Samples: Office Building Lease (GLAUKOS Corp)

Annual Basic Rent. (a) Tenant agrees to pay Landlord the as Annual Basic Rent for the Premises shown the Annual Basic Rent designated in Item 6 of the Subparagraph 1(q) (subject to adjustment as hereinafter provided) in twelve (12) equal monthly installments ("Monthly Basic Lease ProvisionsRent"), payable each in advance on the first day of each and every calendar month during said term, except that the Termfirst month's rent shall be paid upon the execution hereof. If In the event the term of this Lease commences or ends on a day other than the first day of a calendar month, then the Rental rental for such period periods shall be prorated in the proportion that the number of days this Lease is in effect during such period periods bears to thirty (30), and such rental shall be paid at the commencement of such periods. In addition to the said Annual Basic Rent, Tenant agrees to pay as additional Rental the amount of Rental the rental adjustments as and other charges required by when hereinafter provided in this Lease. All Rental Said Annual Basic Rent, additional rent, and rental adjustments shall be paid to Landlord, without any prior demand therefor and without any deduction or offset, offset whatsoever in lawful money of the United States of America, which shall be legal tender at the time of payment, at the address of Landlord designated in the Basic Lease Provisions Subparagraph 1(b) or to such other person or at such other place as Landlord may from time to time designate in writing. No demandFurther, notice or invoice all charges to be paid by Tenant under, including, without limitation, payments for real property taxes, insurance. repairs, and parking shall be requiredconsidered additional rent for the purposes of this Lease, and the word 'rent' in this Lease shall include such additional rent unless the context specifically or clearly implies that only the Annual Basic Rent is referenced. (b) The Rental payable by Tenant shall be increased for each year of the term of this Lease by adjusting the Annual Basic Rent reserved in Section 3(a) to reflect any increase in the cost of livingRENT ESCALATION. See Page 18, which adjustment shall be determined as follows: On each Adjustment Date the most recently published Index figure shall be determined (the "Comparison IndexADJUSTED BASIC RENT"). The monthly Rental payable for the succeeding year of the Lease Term shall be the Annual Basic Rent reserved under Section 3(a) increased by the same percentage, if any, by which the Comparison Index figure shall have increased over the Consumer Price Index figure for the month which is the most recently published prior to the Commencement Date; provided, however, that the increase in Annual Basic Rent shall in no event be less than two percent (2%) per annum nor more than six percent (6%) per annum (pro-rated as required to account for any partial year between the Commencement Date and the Adjustment Date). (c) Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rental and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs may include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Building. Accordingly, if any installment of Rental or any other sum due from Tenant shall not be received by Landlord or Landlord's designee within five (5) days after the due date, then the unpaid amounts shall bear interest at the rate of one and one-half percent (1-1/2%) per month from the date due to the date of payment (the "Late Charge"). The parties agree that such late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (d) In the event of any two consecutive late payments of Rental within any twelve (12) month period, Landlord shall have the option (i) to require that beginning with the first payment of Rental next due, Rental shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance, and also to require that Tenant increase the amount, if any, of the security deposit required under this Lease by: (i) one hundred percent (100%), or (ii) one full month's Rental, whichever is greater, which additional security deposit shall be retained by Landlord and may be applied by Landlord in the manner provided in this Lease. (e) In the event that at any time during the term of this Lease any governmental law, rule or regulation prohibits or postpones in whole or in part any increase in the Rental or in the payment of other sums payable by Tenant hereunder to be made pursuant to this Lease, then, and in either of such events, such increase or payment shall be made to the maximum extent permissible by law at the time provided in this Lease, and/or at any time or times thereafter such increase or payment, or any portion thereof, may lawfully be made and any such increase in Rental, or any portion thereof, or the sums payable hereunder, or portions thereof, the payment of which has been so prohibited or postponed, shall thereafter become due and payable to the maximum extent and at the earliest time or times permitted by law.

Appears in 1 contract

Samples: Lease Agreement (Synon Corp)

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