Base Rent and Additional Rent. Tenant shall pay to Landlord the following amounts as rent for the Premises: (a) During the term of this Lease, Tenant shall pay to Landlord, as base rent, the amount of Base Rent specified in the Basic Lease Information. (b) During each calendar year (or part thereof) during the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements. (c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first day of each calendar month during the term of this Lease, at the address for the payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time require.
Appears in 2 contracts
Samples: Industrial Lease (Amrep Corp.), Industrial Lease (Amrep Corp.)
Base Rent and Additional Rent. During the Term (but subject to the following subparagraph of this Section 4.01 below), Tenant hereby covenants and agrees to pay to Landlord, without any setoff or deduction (except to the extent expressly set forth in this Lease), (a) all Base Rent (as provided in Section 1), (b) Tenant’s Proportionate Share of the Expense Excess and the Tax Excess (as provided in Exhibit B attached hereto), and (c) all other Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay to Landlord from time to time under this Lease. Notwithstanding the foregoing, provided that Tenant is not then in Default beyond any applicable notice and cure period under the Lease, Landlord agrees to waive payment of the monthly amounts of Base Rent for the applicable Phase Premises during the following periods (each, a “Rent Waiver Period”): (a) for the Initial Premises, for the period commencing on the Initial Premises Commencement Date and ending on the date immediately preceding the Initial Premises Rent Commencement Date set forth in Section 1, (b) for the Second Phase Premises, for the period commencing on the Second Phase Premises Commencement Date and ending on the date immediately preceding the Second Phase Premises Rent Commencement Date set forth in Section 1, (c) for the Third Phase Premises, for the period commencing on the Third Phase Premises Commencement Date and ending on the date immediately preceding the Third Phase Premises Rent Commencement Date set forth in Section 1, and (d) for the Fourth Phase Premises, for the period commencing on the Fourth Phase Premises Commencement Date and ending on the date immediately preceding the Fourth Phase Premises Rent Commencement Date set forth in Section 1. In the event that a Rent Waiver Period does not end on the last day of a calendar month, then on the first day of the calendar month in which such Rent Waiver Period expires, Tenant shall pay to Landlord the following amounts as rent for the Premises:
(a) During the term of this Lease, Tenant shall pay to Landlord, as base rent, the amount of Base Rent specified in the Basic Lease Information.
(b) During each calendar year (or part thereof) during the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before Additional Rent for the first portion of the calendar month that follows the last day of each calendar month during the term of this Leasesuch Rent Waiver Period, at the address for the payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and pro-rated on a per such commercially reasonable requirements to accomplish same as Landlord may from time to time requirediem basis.
Appears in 2 contracts
Samples: Office Lease Agreement (Klaviyo, Inc.), Office Lease Agreement (Klaviyo, Inc.)
Base Rent and Additional Rent. Tenant shall pay to Landlord Base Rent for (i) the following amounts as Clean Room Expansion Space in the amount of $22.50 per square foot per annum, (ii) the Storage Expansion Space IV in the amount of $7.83 per square foot per annum, (iii) the Storage Expansion Space V in the amount of $7.83 per square foot per annum , and (iv) the Office Expansion Space II in the amount of $15.14 per square foot per annum, payable in equal monthly installments in accordance with the Lease. Tenant shall commence paying rent for on the Premises:
Clean Room Expansion Space on the earlier of (ai) During the term date that is one hundred eighty (180) days after Landlord substantially completes the Landlord Expansion Space Work related to the Clean Room Expansion Space (the "Clean Room Expansion Space Rent Commencement Date") and (ii) the date that Tenant occupies the Clean Room Expansion Space. Depending upon the date to be utilized, the appropriate party shall provide written notice to the other party and the Clean Room Expansion Space Rent Commencement Date shall be established. Tenant shall commence paying rent on the Storage Expansion Space IV, the Storage Expansion Space V and the Office Expansion Space II on the earlier of this Lease(i) the date that Landlord substantially completes the Landlord Expansion Space Work related to the Storage Expansion Space IV and the Storage Expansion Space V (other than the installation of the acoustical drop ceiling described in Section 3(b)(iv) of Exhibit B attached hereto, which shall be performed by Landlord contemporaneously with the Initial Tenant Expansion Space Work) and (ii) the date that Tenant occupies the remaining Expansion Space (the "Remaining Expansion Space Rent Commencement Date"). Depending upon the date to be utilized, the appropriate party shall provide written notice to the other party and the Remaining Expansion Space Rent Commencement Date shall be established. Tenant shall pay to LandlordLandlord as additional rent for the Expansion Space the cost of utilities consumed therein, as base rent, the amount of Base Rent specified set forth in the Basic Lease Information.
(b) During each calendar year (Lease. Any delay caused by or part thereof) during the term on behalf of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for not impact the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” Clean Room Expansion Space Rent Commencement Date or the “Triple Net Charges”Remaining Expansion Space Rent Commencement Date. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first day of each calendar month during the term of this Lease, at the address for the payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time require.
Appears in 2 contracts
Samples: Lease Amendment (Emagin Corp), Lease Amendment (Emagin Corp)
Base Rent and Additional Rent. Tenant (a) Subtenant shall pay to Landlord the following amounts Sublandlord at such place or method as rent for the Premises:
Sublandlord may designate, (ai) During the term of this Lease, Tenant shall pay to LandlordBase Rent (and any Additional Rent, as base rent, the amount of Base Rent specified in the Basic Lease Information.
(b) During each calendar year (or part thereof) during the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (xapplicable), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first (1st) day of each calendar month during the Term, without demand by Sublandlord, and (ii) any other Additional Rent and other sums and charges by the fifteenth (15th) day after Subtenant receives a written statement therefor. Notwithstanding anything to the contrary contained herein, Subtenant shall pay to Sublandlord, on the execution of this Sublease, the Initial Amount, which sum shall be credited against the first monthly installment(s) of Base Rent becoming due and payable under this Sublease. Any delay or failure of Sublandlord in billing for any Additional Rent hereunder shall not constitute a waiver of, or in any way impair, the continuing obligation of Subtenant to pay Additional Rent.
(b) The utilities for the Subleased Premises are currently separately metered. Beginning on the Commencement Date, Subtenant shall place all separately metered utilities in Subtenant’s name and pay all charges for all separately billed gas, electricity, telephone and other utility services used, rendered or supplied upon or in connection with the Subleased Premises and shall indemnify Sublandlord and Landlord against liability or damage on such account. The costs of any utilities related to the Subleased Premises which are not separately metered shall be the responsibility of the Subtenant and will be billed to Subtenant by Sublandlord.
(c) In addition to Base Rent, it is understood and agreed that Subtenant shall also pay to Sublandlord as Additional Rent Subtenant’s Proportionate Share of all Operating Expenses and Taxes which Sublandlord is obligated to pay to Landlord pursuant to the Lease.
(d) The mechanics for the billing by Sublandlord to Subtenant, and the payment by Subtenant to Sublandlord of the Additional Rent, shall be the same as the billing by Landlord to Sublandlord, appropriately adapted. Upon request by Subtenant, Sublandlord shall make available to Subtenant any documentation provided by Landlord to the extent the same relates to the calculation and billing of Additional Rent hereunder.
(e) Subtenant does hereby covenant and agree to pay the Base Rent, Additional Rent and other sums or charges which may become due and payable hereunder, as and when the same shall become due and payable, without any set-off or deduction whatsoever, and to keep and perform, and to permit no violation of, each and every of the covenants, agreements, terms, provisions and conditions herein contained on the part and on behalf of Subtenant to be kept and performed.
(f) If, by reason of any of the provisions of this Sublease, the term of this LeaseSublease shall commence (or any due date for payment of Base Rent, Additional Rent and other sums and charges shall occur) on any day other than the first day of a calendar month or end on any day other than the last day of a calendar month, Base Rent and Additional Rent (if applicable) for such calendar month shall be prorated.
(g) If Subtenant shall fail to pay any installment of Base Rent or any Additional Rent or other charges when first due hereunder, interest shall accrue thereon at the address for greater of (i) the payment annual rate of rent specified in four (4) percentage points over the Basic Lease Information, or to such other person or at such other place as Landlord may then prime interest rate being charged from time to time designate by Citibank, N.A. to its corporate customers from and after the date on which any such sum was first due and payable hereunder, beyond the expiration of any applicable grace periods (ii) the interest rate paid by the Sublandlord in writing. Time accordance with Section 12.3 of the Lease, but in no event shall such rate exceed the maximum rate permitted by law, and such interest shall be strictly of the essence deemed to accrue as Additional Rent hereunder and shall be paid to Sublandlord upon demand made from time to time.
(h) Subtenant shall pay all rent or occupancy taxes due in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time requireSublease during the term hereof (if applicable).
Appears in 1 contract
Base Rent and Additional Rent. Tenant shall A. Sublessee agrees to pay to Landlord Sublessor during the following amounts as rent for the Premises:
(a) During the term of this LeaseTerm, Tenant shall pay to Landlord, as base rent, the amount of Base Rent specified at the rate or rates set forth on the Addendum attached hereto as EXHIBIT B, payable in the Basic Lease Information.
(b) During each calendar year (or part thereof) during the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional equal monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlordinstallments, in advance, on or before the first day of each calendar and every month during the term Term. In the event the Term commences on a day other than the first day of this a calendar month, Sublessee shall pay Base Rent for said fractional month prorated on the basis of a thirty (30) day period.
B. Sublessee agrees to pay Sublessor during the Term, Additional Rent, as defined in the Main Lease, at the same rates and on the same basis as Sublessor has agreed to pay to Owner under the Main Lease. If the Premises are comprised of less than the entire Main Lease Premises, then the Additional Rent payable by Sublessee hereunder shall be calculated by multiplying the Additional Rent payable by Sublessor under the Main Lease by a fraction, the numerator of which is the rentable area of the Premises, and the denominator of which is the rentable area of the Main Lease Premises.
C. Sublessee shall also be responsible for paying a pro-rata share of the utility charges for which Sublessor is responsible under the Main Lease. This share shall be a fraction, the numerator of which is the rentable area of the Premises, and the denominator of which is the rentable area of the Main Lease Premises.
D. The parties acknowledge and agree that Sublessee shall timely pay all Base Rent, Additional Rent, and any other charges which are Sublessee's obligation hereunder.
E. All Base Rent and Additional Rent payable by Sublessee under this Sublease shall be paid, without notice or prior demand therefor and without any deduction or set-off whatsoever, to Sublessor, at the address for the payment of rent specified set out in the Basic Lease Information, or to such other person Article 14 hereof or at such other place as Landlord Sublessor may designate from time to time designate by written notice to Sublessee given in writingthe manner set out in Article 14 hereof.
F. The parties acknowledge that the Additional Rent currently payable by Sublessor under the Main Lease equals $9.56 per square foot annually. Time shall be strictly of The parties also acknowledge that the essence Additional Rent is subject to the adjustments and increases set forth in respect of all payments due Landlord. All payments to Landlord made under this the Main Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time require.
Appears in 1 contract
Base Rent and Additional Rent. Tenant 3.1 Subtenant shall pay to Landlord Sublandlord, commencing the Commencement Date, the following amounts as rent for (the Premises:
(a) During the term of this Lease, Tenant shall pay to Landlord, as base rent, the amount of "Base Rent specified in the Basic Lease Information.
(b) During each calendar year (or part thereofRent") during the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there Term: Annual Base Rent Monthly Installment ---------------- ------------------- $60,450 $5,037.50
3.2 Base Rent shall be no charges passed through to Tenant under parts (x), (y) due and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including payable without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent commencing on the Commencement Date and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first day of each calendar month in advance during the term Term. The installment of Base Rent for the first full calendar month of the Term following the Commencement Date shall be due and payable upon the execution of this Sublease. If the Commencement Date shall occur on a date other than the first day of any calendar month, the Base Rent payable hereunder for such month shall be prorated on a per-diem basis and shall be paid prior to the first day of the first full month following the Commencement Date. Each installment of Base Rent shall be accompanied by an additional amount equal to all applicable state and local sales or use tax payable thereon.
3.3 In addition to the Base Rent herein reserved, Subtenant agrees to pay to Sublandlord, as additional rent, within five (5) days following written notice from Sublandlord to Subtenant that same are due and owing, all other payments for which Sublandlord shall become responsible to Landlord under the Lease with respect to Subtenant's use or occupancy of the Premises or by reason of any act or omission of Subtenant, including, without limitation, any payments accruing as a result of (i) any increases in insurance premiums as provided in the Lease, resulting from any act or omission of Subtenant, (ii) any additional rent payable on account of Subtenant's use of extra heating, ventilation or air conditioning and/or (iii) any additional rent payable on account of any services provided to Subtenant; provided, however, and notwithstanding any provision contained in this Sublease to the contrary, Subtenant shall not be obligated to pay or reimburse to Sublandlord any portion of "Tenant's Share of Operating Costs" (as defined in the Lease) it being understood and agreed that the Base Rent payable hereunder by Subtenant to Sublandlord is inclusive of any contribution of Subtenant for such amounts.
3.4 If Subtenant shall fail to pay when due any installment of Base Rent, additional rent or other costs, charges and sums payable by Subtenant hereunder (such additional rent or other costs, charges and sums, together with Base Rent, hereinafter collectively referred to as the "Rental"), Subtenant shall pay to Sublandlord, in addition to such installment of Base Rent or Rental, as the case may be, a late charge equal to five percent (5%) of the amount of such payment.
3.5 All Base Rent and other Rental shall constitute rent under this Sublease, and shall be payable to Sublandlord at its address as set forth in Paragraph 12 hereof, unless Sublandlord shall otherwise so direct in writing.
3.6 Subtenant shall promptly pay the address Rental as and when the same shall become due and payable without set-off, offset or deduction of any kind whatsoever, except as expressly set forth herein, and, in the event of Subtenant's failure to pay the same when due (subject to grace periods provided herein), Sublandlord shall have all of the rights and remedies provided for herein or at law or in equity, in the case of non-payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time require.
Appears in 1 contract
Base Rent and Additional Rent. Tenant 3.1 Commencing on the Commencement Date Subtenant shall pay to Landlord the following amounts as rent for the Premises:
(a) During the term of this Lease, Tenant shall pay to LandlordSublandlord, as base rentrent (“Base Rent”) during the Term (subject to adjustment on January 1 as set forth below) the sum of Eight Hundred Nine Thousand Five Hundred Ninety Nine and 50/100 ($809,599.50) Dollars per annum, payable in equal monthly installments of Sixty Seven Thousand Four Hundred Sixty Six and 63/100 ($67,466.63) Dollars in advance no later than three (3) business days prior to the amount first (1st) day of each month during the Term. The installment of Base Rent specified in for the Basic Lease Information.
first full calendar month of the Term following the Commencement Date shall be due and payable upon the execution of this Sublease. If the Commencement Date shall occur on a date other than the first day of any calendar month, the Base Rent payable hereunder for such month shall be prorated on a per-diem basis and shall be paid three (b3) During days prior to the first day of the first full month following the Commencement Date. Notwithstanding the foregoing to the contrary, upon written notice from Sublandlord to Subtenant, the Base Rent will be adjusted by Sublandlord on January 1 of each calendar year of the Term or any extensions thereof based upon the Subtenant’s pro-rata share (which the parties agree is 2.27% calculated by taking the 31,749 rentable square feet of the 44th floor divided by the 1,401,609 rentable square feet of the building and then multiplying by 100) of increases or part decreases in Sublandlord’s operating costs (sum of all building operating costs, including but not limited to maintenance and repair, water and sewer charges, building management, taxes, cleaning, utilities, electric, HVAC, and janitorial supplies) for the Building. Such adjustment of Base Rent shall be determined by Sublandlord in its sole and absolute discretion.
3.2 In addition to the Base Rent reserved herein, Subtenant agrees to pay to Sublandlord as additional rental all other payments for which Sublandlord shall become responsible to Landlord under the Lease in respect of the Premises, Subtenant’s use or occupancy thereof or by reason of any act or omission of Subtenant (collectively, the “Additional Rent”), including, without limitation, any payments accruing as a result of (i) any increases in insurance premiums as provided in Article 9 of the Master Lease resulting from any act or omission of Subtenant, (ii) any additional rent payable on account of Subtenant’s use of extra heating, ventilation or air conditioning (before 8am and after 6pm on weekdays and anytime on weekends – overtime HVAC will be paid by Subtenant as Additional Rent at the rate of $75.00 per hour or portion thereof) during the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (ziii) Insurance Costs paid or incurred by Landlord in such yearany additional rent payable on account of any services provided to Subtenant other than basic maintenance, repair and cleaning of the Premises. The charges for Notwithstanding the foregoing CAM Expensesprovisions of Section 3.1 and 3.2, Property Taxes Subtenant shall not be obligated to pay Sublandlord additional rent for real estate taxes, operating expenses, electric and Insurance Costs are also herein water charges, except to the extent that the same may be increased as a result of Subtenant’s particular manner of use or occupancy of the Premises.
3.3 If Subtenant shall fail to pay when due any installment of Base Rent, Additional Rent or other costs, charges and sums payable by Subtenant hereunder (such Additional Rent or other costs, charges and sums, together with Base Rent, hereinafter collectively sometimes referred to as the “NNN Charges” or the “Triple Net ChargesRental”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) Subtenant shall pay to Sublandlord, in addition to such installment of Base Rent or Rental, as the case may be, as a late charge and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts a sum equal to interest at the Applicable Rate (hereinafter defined) per annum on the amount unpaid, commencing from the date such payment was due to and including the date of money and charges required to be paid by Tenant under this Leasepayment. As used in this Lease, The “rentApplicable Rate” shall mean and include all Base Rent, additional monthly rent and additional rent payable be the rate equal to the lesser of (as applicablea) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and two (if applicable2) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before percentage points above the first day rate of each calendar month during the term of this Lease, at the address for the payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may interest announced from time to time designate in writing. Time shall be strictly of by Citibank, N.A. as its prime, reference or corporate base rate, changing as and when said prime, reference or corporate base rate changes or (b) the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made maximum rate permitted by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time requireapplicable law.
Appears in 1 contract
Samples: Sublease Agreement (Primerica, Inc.)
Base Rent and Additional Rent. Tenant shall A. Sublessee agrees to pay to Landlord Sublessor during the following amounts as rent for the Premises:
(a) During the term of this LeaseTerm, Tenant shall pay to Landlord, as base rent, the amount of Base Rent specified at the rate or rates set forth on the Addendum attached hereto as Exhibit B, payable in the Basic Lease Information.
(b) During each calendar year (or part thereof) during the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional equal monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlordinstallments, in advance, on or before the first day of each calendar and every month during the term Term. In the event the Term commences on a day other than the first day of this a calendar month, Sublessee shall pay Base Rent for said fractional month prorated on the basis of a thirty (30) day period.
B. Sublessee agrees to pay Sublessor during the Term, Additional Rent, as defined in the Main Lease, at the same rates and on the same basis as Sublessor has agreed to pay to Owner under the Main Lease. If the Premises are comprised of less than the entire Main Lease Premises, then the Additional Rent payable by Sublessee hereunder shall be calculated by multiplying the Additional Rent payable by Sublessor under the Main Lease by a fraction, the numerator of which is the rentable area of the Premises, and the denominator of which is the rentable area of the Main Lease Premises.
C. Sublessee shall also be responsible for paying a pro-rata share of the utility charges for which Sublessor is responsible under the Main Lease. This share shall be a fraction, the numerator of which is the rentable area of the Premises, and the denominator of which is the rentable area of the Main Lease Premises.
D. The parties acknowledge and agree that Sublessee shall timely pay all Base Rent, Additional Rent, and any other charges which are Sublessee's obligation hereunder.
E. All Base Rent and Additional Rent payable by Sublessee under this Sublease shall be paid, without notice or prior demand therefor and without any deduction or set-off whatsoever, to Sublessor, at the address for the payment of rent specified set out in the Basic Lease Information, or to such other person Article 14 hereof or at such other place as Landlord Sublessor may designate from time to time designate by written notice to Sublessee given in writingthe manner set out in Article 14 hereof.
F. The parties acknowledge that the Additional Rent currently payable by Sublessor under the Main Lease equals $9.56 per square foot annually. Time shall be strictly of The panties also acknowledge that the essence Additional Rent is subject to the adjustments and increases set forth in respect of all payments due Landlord. All payments to Landlord made under this the Main Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time require.
Appears in 1 contract
Base Rent and Additional Rent. (a) Subject to adjustment as provided in Exhibit F, Tenant shall pay to Landlord the following amounts as base annual rent (“Base Rent”) for the Premises:
Premises in monthly installments in advance beginning 3 months following the Commencement Date (athe “Rent Commencement Date”), as follows: Months 1-3 No Base Rent Months 4-60 $ 58,887.27 Months 61-120 $ 62,421.84 Months 121-180 $ 66,156.48 The foregoing Base Rent amounts have been calculated based upon the Total Project Cost set forth in the Development Budget, before deducting anticipated Incentives (other than the Drainage Easement Payment described on Exhibit D) During and Base Rent Adjustments as required by Exhibit F. Notwithstanding the term foregoing, if for any reason other than an Excused Delay or Event of this LeaseDefault by Tenant, (i) the Premises are not Substantially Completed by the 20th day following the Target Commencement Date, or (ii) Tenant is not allowed entry into the Building at least 30 days prior to the Commencement Date for purposes of installing Tenant’s machinery and equipment, then Tenant shall pay be entitled to Landlord, as base rent, the amount of a credit against Base Rent specified amounts first becoming due hereunder in an amount equal to 2 days’ Monthly Base Rent for (x) each calendar day beyond the Basic Lease InformationTarget Commencement Date that Substantial Completion is delayed, and (y) each day less than 30 days prior to the Commencement Date that Tenant is given access to the Premises for the purpose of installing its machinery and equipment.
(b) During each If the Rent Commencement Date occurs on a day other than the first day of a calendar year (or part thereof) during month, then the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges Base Rent for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building month in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems)Rent Commencement Date occurs will be equal to the monthly installment amount specified above multiplied by a fraction, the structure numerator of which is the number of days in the period starting on the Rent Commencement Date and foundation and slabs and exterior walls thereof, exterior surfaces, windowsending on the last day of that month, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term denominator of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts which is the total number of money and charges required to be paid by Tenant under this Leasedays in that month. As used in this Lease, “rent” shall mean and include all Subsequent installments of Base Rent, additional monthly rent and additional rent Rent following the Rent Commencement Date are payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, advance on or before the first day of each calendar month during the term Term.
(c) If a termination of this Lease occurs prior to the Expiration Date for reasons other than Tenant’s default (including but not limited to a termination by Tenant pursuant to Section 19 hereof) and if the effective date of termination is other than the last day of a calendar month, the parties will prorate the Base Rent payable with respect to the calendar month in which the effective date of termination occurs based on the number of days in that month, and Landlord shall promptly refund to Tenant, without demand, setoff or deduction, any previously paid Base Rent attributable to any period of time following the termination date.
(d) From and after the Commencement Date, Tenant shall promptly pay when due to the applicable taxing authority any fee-in-lieu of taxes and all taxes, assessments (including any added or special assessments), water and sewer rents, rates and charges, transit taxes, charges for public utilities, excises, levies, vault and all other licenses and permit fees and other governmental charges, general and special, ordinary and extraordinary, unforeseen and foreseen, of any kind and nature whatsoever (including without limitation all penalties and interest thereon by reason of Tenant’s failure to pay Impositions as herein provided unless Landlord has not directed the taxing authority to deliver tax statements directly to Tenant such that the failure to timely pay any such Imposition results solely from the failure by Landlord to deliver the statement regarding any such Imposition(s) to Tenant at least 15 business days prior to same becoming due and payable, in which event Landlord shall be responsible for any such penalties and interest) which at any time prior to or during the Term may be assessed, levied, confirmed, imposed upon or grow or become due and payable out of or in respect of or become a lien on (i) the Premises or any part thereof or any appurtenance thereto, (ii) any Rent reserved or payable hereunder or any other sums payable by Tenant hereunder, (iii) this Lease or the leasehold estate hereby created or the operation, possession, occupancy or use of the Premises, (iv) any document to which Tenant is a party creating or transferring an interest or estate in the Premises (all of which are hereinafter called “Impositions”).
(e) Landlord shall file a request with all taxing authorities that issue tax bills or tax statements for Impositions on the Premises to deliver the tax bills or tax statements directly to Tenant. Promptly following request from the Landlord, Tenant shall promptly deliver to Landlord copies of all tax bills and tax statements Tenant receives directly from the taxing authorities. Tenant shall pay all such tax bills or tax statements prior to delinquency. At least 15 business days prior to the date each such tax xxxx or tax statement would become delinquent, Tenant, upon request by Landlord, shall deliver to Landlord a copy of a paid receipt that the taxing authority issues or a Certificate of No Tax Due issued by a reputable title insurance company, at Tenant’s expense, demonstrating the payment of that Imposition. If Tenant does not timely provide proof of the payment of any Imposition as required in the prior sentence within 5 business days following request therefor by Landlord, Landlord may pay the Imposition and xxxx Tenant therefor. Except as otherwise set forth in Section 5(d) above, Tenant will be responsible for any interest or penalties that accrue with respect to all Impositions not timely paid by Tenant under this Section 5(e).
(f) The foregoing will not require Tenant to pay any municipal, state or federal income, net profit, excess profits or similar taxes assessed against Landlord or any of its partners, members or holders of its equity securities, or any municipal, state or federal capital levy, estate, succession, inheritance, transfer or similar taxes of Landlord or any of its partners, members or holders of its equity securities, or corporation or other franchise taxes imposed upon the owner of the fee of the Premises. Moreover, with respect to Impositions that may lawfully be paid in installments over a period of years, with or without interest, the foregoing will not require Tenant to pay any portion of those installments or interest that become due to the taxing authority after the Expiration Date, as extended. With respect to the Impositions levied in respect of any period of time within which either the Commencement Date or the Expiration Date occurs, Tenant shall only be obligated to pay a proportionate part of those Impositions, which part will bear the same ratio to the total amount of those Impositions as the number of days in the period between the Commencement Date and the end of that period of time or in the period between the beginning of that period of time and the Expiration Date, whichever is applicable, bears to the total number of days in that period of time.
(g) Notwithstanding anything in this Section 5 to the contrary, Tenant may contest in good faith and at its expense the amount or validity of any Imposition that it is obligated to pay in accordance with the foregoing and is entitled to any refund paid as a result of that contest. Landlord shall join in any contest undertaken by Tenant in accordance with the foregoing at Tenant’s expense if the provisions of any law, rule or regulation at the time in effect require that the proceedings be brought by or in the name of Landlord. Notwithstanding anything in this Lease to the contrary, during any tax contest, Tenant agrees to comply with any jurisdictional requirements relating to payment before contest necessary to prevent a tax foreclosure.
(h) For purposes of this Lease, (i) Base Rent and (ii) any other amounts due from Tenant to Landlord (herein sometimes referred to as “Additional Rent”) are herein collectively referred to as the “Rent.” All Rent is payable without notice, demand, abatement, deduction, or setoff at the address for the payment of rent specified in the Basic Lease Information, or to such other person Section 36(j) or at such other place address as Landlord may from time to time designate in writingdesignate. Time Subject to any contrary instructions to which Tenant shall be strictly subject pursuant to this Lease or any Exhibit hereto, at Landlord’s request Tenant shall pay Rent to an account designated by Landlord. Following Commencement Date, Tenant’s obligation to pay Base Rent and other amounts under this Lease is independent of the essence in respect performance by Landlord of all payments due Landlord. All payments to Landlord made its obligations under this Lease; provided, including without limitation for all rent, shall be made by wire transfer nothing in such commercially reasonable manner and per such commercially reasonable requirements this sentence affects Tenant’s rights to accomplish same as Landlord may from time to time requireset off under Section 26.
Appears in 1 contract
Samples: Lease Agreement (3d Systems Corp)
Base Rent and Additional Rent. Tenant shall pay to Landlord the following amounts as rent for the Premises:
(a) During the term of this Lease, Tenant shall pay to Landlord, as base rent, the amount of Base Rent specified in the Basic Lease Information.
(b) During each calendar year (or part thereof) Effective during the term of this LeaseThird Expansion Space Lease Term and the First Extension Term, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional Additional Rent for the Third Expansion Space and the original Premises, including the First Expansion Space and Second Expansion Space, shall be adjusted as follows:
A. The Base Rent due for the Third Expansion Space, shall be payable in equal monthly rent under Section 3.1 hereof to Landlord, in advance, installments on or before the first day of each calendar month as follows:
B. The Base Rent due during the term First Extension Term for the remaining Premises, containing 58,871 rentable square feet, shall be payable in equal monthly installments on the first day of this Leaseeach month as follows:
C. Tenant shall continue to pay as Additional Rent its pro-rata share (as modified below, effective as of the Third Expansion Space Commencement Date) of Tax and Insurance Escalation Expenses as described in Section 4.2 of the Lease as amended, to the extent such share exceeds such expenses for the calendar year ending December 31, 2004.
D. Common Area Maintenance Expense for the Third Expansion Space shall be payable by Tenant at the address rate of $0.86 per square foot of Premises per year and shall be payable in equal monthly payments along with Tenant’s Base Rent during the Third Expansion Space Lease Term, which amount shall be increased by 3% on a compounded basis annually. The Common Area Maintenance Expense for the payment remainder of rent specified the Premises during the First Extension Term shall be payable at the rate of $0.97 per square foot of Premises per year and shall payable equal payments and shall increase by 3% on a compounded basis annually. Tenant also shall continue to pay for all of its own utilities and services pursuant to Paragraph 7 of the Lease.
E. The "Tenant's Share" shall be increased to 65.00% (.6500).
F. Landlord shall conditionally excuse Base Rent for the Second Expansion Space for the period commencing on April 1, 2004 through July 31, 2004 and for the Third Expansion Space for the period commencing on May 1, 2004 through August 31, 2004 ("Excused Rent"), provided, however, that Excused Rent shall immediately become due and payable to Landlord in the Basic Lease Information, event of any monetary or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made Tenant default under this Lease, including without limitation for all rent, . Landlord shall waive any rights to payment of Excused Rent if Tenant has not defaulted in any of Tenant's obligations as of the Expiration Date of the Lease. This Section shall not be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements deemed to accomplish same as Landlord may from time to time requireexcuse payment of any rents or charges due other than Excused Rent.
Appears in 1 contract
Samples: Lease (Matria Healthcare Inc)
Base Rent and Additional Rent. Tenant shall pay to Landlord the following amounts as Base rent for each Master Lease (“Base Rent”) will be calculated in accordance with the Premises:
Shopping Center pro forma attached hereto as Schedule I (the “Pro Forma”). For example, Base Rent for the Inline Master Lease will be at an annual rate of $30 per foot for the premises under the Inline Master Lease. Master Lease Rent will commence on the Closing Date. As premises are removed from a Master Lease in accordance with Section 3 above, Base Rent will be adjusted accordingly. In addition to Base Rent, Seller will pay all base rent due with respect to any Tenant Lease which has not yet started paying base rent as of the Closing Date – such base rent to be paid under the applicable Master Lease (the “Additional Base Rent”). Additional Base Rent attributable to each such Tenant Lease will commence as of the Closing Date regardless of whether the tenant thereunder is entitled to free rent and shall be calculated in accordance with the annual base rent specified in such Tenant Lease. For example, if (a) During there is a Tenant Lease in the term inline space that is not an Earn Out Lease as of this Lease, Tenant shall pay to Landlord, as the Closing Date and has not started paying base rent, then under the amount of Inline Master Lease, Seller will Exhibit “H”- 2 pay Purchaser Additional Base Rent specified for such Tenant Lease until the rent commencement date (i.e., the date all free rent periods have expired) under such Tenant Lease has occurred (with Seller being obligated to resume payment of such Additional Base Rent under the conditions set forth in the Basic Lease Information.
Section 2 above); and (b) During each calendar year Seller elects to construct the Pad Site N Multi-Tenant Building, Seller will pay Purchaser Additional Base Rent with respect to that portion of the Pad Site N Multi-Tenant Building which was leased prior to commencement of construction until the rent commencement date (or part thereofi.e., the date all free rent periods have expired) during under such Tenant Lease has occurred (with Seller being obligated to resume payment of such Additional Base Rent under the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlordconditions set forth in Section 2 above) and, as additional monthly rentto the remaining portion of the Pad Site N Multi-Tenant Building, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in until the Earn Out Conditions with respect to such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such yearspace have been satisfied. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively term “base rent” is sometimes referred to as the “NNN Chargesminimum guaranteed rental” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that under a Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacementsLease.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first day of each calendar month during the term of this Lease, at the address for the payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time require.
Appears in 1 contract
Samples: Agreement of Sale and Purchase
Base Rent and Additional Rent. Tenant (a) From and after the Commencement Date and throughout the Term, Subtenant shall pay to Landlord Sublandlord base rent (the “Base Rent”) equal to the following amounts as rent for the Premisesyearly (and monthly) rates:
(ai) During From the term Commencement Date – June 30, 2009: $0.00; and
(ii) From July 1, 2009 – the Expiration Date: $784,800.00 per annum ($65,400.00 per month), representing $40.00 per square foot per annum. The Base Rent shall be due and payable to Sublandlord, in advance, on the first day of each and every calendar month during the Term of this LeaseSublease. If any payment of Rent (defined below) applies to a period that is both within and outside the Term, Tenant such payment shall pay be apportioned on the basis of the ratio of the number of days in such period within the Term to Landlord, as base rent, the amount total number of Base Rent specified days in the Basic Lease Informationsuch period.
(b) During Commencing on and after the Commencement Date, Subtenant shall, promptly after invoice from Sublandlord, pay to Sublandlord any and all Additional Rent (together with the Base Rent, the “Rent”) payable by Subtenant hereunder. “Additional Rent” shall mean (x) for each calendar year beginning with January 1, 2010, any and all amounts that Escalation Rent (or part thereofas defined under the Master Lease) during the term paid by Sublandlord in excess of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay amounts paid by Sublandlord with respect to Landlord, as additional monthly rent, Tenant’s Percentage Share of all Escalation Rent for calendar year 2009 (x) CAM Expenses paid or incurred by Landlord in such year“Sublease Basic Operating Costs”); (y) Property Taxes paid all other additional rent payable by Sublandlord to Master Landlord under the Master Lease if incurred at the request of, or incurred by Landlord due to the acts or omissions of, Subtenant in such yeareach case, relating to or in connection with the Subleased Premises; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and payable by Subtenant hereunder including, without limitation, any costs or charges imposed upon Sublandlord pursuant to the Master Lease in connection with Subtenant’s move into to Subleased Premises (provided that Sublandlord shall not impose any additional costs upon Subtenant in connection with Subtenant’s move into the Subleased Premises above those required to be paid by Tenant under this the Master Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first day of each calendar month during the term of this Lease, at the address for the payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time require).
Appears in 1 contract
Base Rent and Additional Rent. A. Tenant shall pay to Landlord during the following amounts Term the Base Rent, without notice or demand, in the monthly installments specified in Section 1, in advance on the first day of each calendar month of the Term, at Landlord’s principal office as rent for indicated in Section 1 above. The first month’s installment of Base Rent shall be payable upon the Premises:
(a) During the term execution of this Lease. If the Term commences other than on the first day of a calendar month, then the installment of Base Rent for the first calendar month of the Term shall be adjusted proportionately, and the aforesaid first installment paid by Tenant upon the execution of this Lease shall be initially applied to the first partial month of the Term, and the balance to the next month.
B. Within ninety (90) days of the end of each calendar year, Landlord shall determine its costs for the services provided in accordance with Section 8 hereof for the preceding calendar year (“Annual Operating Expenses”) and shall provide Tenant with a copy of such statement. The Annual Operating Expenses so determined for the 2005 calendar year shall constitute the “Base Year Operating Expenses”. Should Landlord’s Annual Operating Expenses for any successive calendar year during the Term of this Lease exceed its Base Year Operating Expenses, Tenant shall pay to Landlord, as base rentAdditional Rent, the amount upon receipt of Base Rent specified in the Basic Lease InformationLandlord’s statement, its proportionate share of such excess.
(b) During each calendar year (or part thereof) during the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all C. Base Rent, additional monthly rent Additional Rent and additional rent all other sums payable (as applicable) by Tenant in accordance with this Lease. Tenant to Landlord hereunder shall pay be paid, without notice, demand, deduction set-off or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlorddeduction, in advance, on or before lawful currency of the first day United States of each calendar month during the term of this Lease, America to Landlord at the address for the payment of rent specified set forth in the Basic Lease InformationSection 1 hereof, or to such other person or at such other place address as Landlord may from time to time designate in writingwriting to Tenant. Time In order to partially compensate Landlord for the extra expense incurred in the handling of delinquent payments, Tenant agrees to pay Landlord a late charge equal to the product obtained by multiplying each installment of Base Rent or Additional Rent not paid by its due date by five percent (5%) (the “Default Rate”).
D. Notwithstanding the foregoing, “Operating Expenses” shall not include expenditures for any of the following:
(i) The costs for alterations or additions which are considered capital improvements or replacements under generally accepted accounting principles, Repairs or other work occasioned by fire, windstorm or other insured casualty or hazard, to the extent that Landlord shall receive proceeds of such insurance, Repairs for which Landlord is responsible pursuant to Section 11 below, and work for which Landlord is responsible under Section 3 above, Repairs or rebuilding necessitated by condemnation, Depreciation and amortization of the Building, The salaries and benefits of executive officers of Landlord, if any, Net income, franchise or capital stock taxes payable by Landlord, Interest on debt or amortization or principal on any mortgage or other obligations of Landlord. Items of Operating Expense which are not exclusively incurred with respect to the Building by reason of the nature of the items or otherwise shall be strictly of equitably allocated by Landlord among the essence in respect of all payments due Landlord. All payments buildings to Landlord made under this Leasewhich the same relate or for whose benefit the same have been incurred, including without limitation for all rent, and only the portion allocated to the building shall be made by wire transfer included in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time requirecalculating the Operating Expense for the Building.
Appears in 1 contract
Base Rent and Additional Rent. Tenant (a) Commencing as of the 23rd Floor Sublease Commencement Date, Sublessee shall pay to Landlord Sublessor an annual base rent of Seven Hundred Twenty-Six Thousand Four Hundred Forty-Nine Dollars ($726,449.00) (“Base Rent”). The Base Rent shall be paid without any prior demand therefor, in equal monthly installments of Sixty Thousand Five Hundred Thirty-Seven Dollars and Forty-Two Cents ($60,537.42) in advance, on the following amounts first day of each month during the 23rd Floor Sublease Term, without any abatement, deduction, counterclaim, setoff or defense whatsoever (except as rent may be expressly provided herein). If the 23rd Floor Sublease Commencement Date is not the first day of a calendar month, then the Base Rent shall be pro-rated for such partial calendar month and the Premises:
(a) During balance of the term of this Lease, Tenant shall pay to Landlord, as base rent, the amount first monthly installment of Base Rent specified theretofore paid shall be credited against the next monthly installment of Base Rent. The monthly installment of Base Rent payable on account of any partial calendar month during the 23rd Floor Sublease Term, if any, shall be prorated. Notwithstanding the foregoing, provided Sublessee is not in default in the Basic Lease Informationperformance of any of the terms, covenants and conditions of this Sublease beyond applicable notice and cure periods, Sublessee shall receive an abatement of Base Rent for the first ninety (90) days of the 23rd Floor Sublease Term (the “Abatement Period”) but during the Abatement Period Sublessee shall otherwise be required to comply with all the other terms, covenants and conditions of this Sublease. The first month of Base Rent to be paid to the Sublessor upon Sublessee’s execution of this Sublease shall be applied to the period following the Abatement Period. If Sublessor has received any Base Rent, additional rent, Operating Expenses, Air Condition Costs or A/C Payment payable for the 25th Floor Premises applicable to any period of time after the 23rd Floor Sublease Commencement Date, Sublessor shall credit such payment to Sublessee’s next payment of Base Rent due under this Sublease for the 23rd Floor Premises.
(b) During each calendar year (or part thereof) during the term of this LeaseIn addition to Sublessee’s obligation to pay Base Rent, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant Sublessee shall also pay to LandlordSublessor, as additional rent hereunder no later than (10) days after receipt of demand therefor (except for items of additional rent which are recurring monthly rentitems in which case shall be paid as and when Sublessee pays its Base Rent), all other amounts that become due and payable from time to time by Sublessor under the provisions of the Prime Lease solely with respect to the 23rd Floor Premises (as set forth in invoices or bills received by Sublessor from Prime Landlord for such amounts attributable to the 23rd Floor Premises only, or in the alternative, pursuant to a percentage allocation agreed upon by Sublessor and Sublessee if such invoices or bills combine amounts applicable to both the 23rd Floor Premises and the 25th Floor Premises), including, without limitation:
(i) the additional rent payable under Sections 3.03 and 3.04 of the Prime Lease pertaining to the escalation in Operating Expenses (as such term is defined in the Prime Lease); and
(ii) the additional rent payable under Sections 3.01 and 3.02 of the Prime Lease pertaining to the escalation in Taxes (as such term is defined in the Prime Lease); and
(iii) the additional rent payable under Sections 3.05 and 3.06 of the Prime Lease pertaining to the payments of Air Conditioning Costs and Tenant’s Percentage Share A/C Payment (as such terms are defined in the Prime Lease); provided, however, that:
(1) for purposes of all calculating the escalation in Operating Expenses payable as additional rent under this Sublease, as set forth in the Prime Lease, the term “Base Operating Factor”, as used therein, shall be deemed to be the Operating Expenses for the 2011 calendar year; and
(2) for purposes of calculating the escalation in Taxes payable as additional rent under this Sublease, as set forth in the Prime Lease, the term “Base Tax”, as used therein, shall be deemed to mean the product determined by multiplying (x) CAM Expenses the amounts for which the Land (as defined in the Prime Lease) and Building are assessed by the City of New York for the purpose of establishing Taxes (as defined in the Prime Lease) to be paid or incurred by Prime Landlord for the Tax Year (as defined in such year; the Prime Lease) July 1, 2010 to June 30, 2011 as finally determined, by (y) the real property tax rate applicable to the Real Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlorddefined in the Prime Lease) deliver with respect to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacementssuch Tax Years.
(c) Throughout Sublessee’s Tax Share and Proportionate Share of Operating Expenses shall be the term same as those provided in Article 3 of the Original Prime Lease. In addition, Sublessor shall provide Sublessee with statements based on Landlord’s Statements (as defined in the Prime Lease) for Sublessee’s Tax Payment and Operating Payment (as defined in the Prime Lease) in the manner provided in the Prime Lease and Sublessee shall make such Tax Payments and Operating Payments to Sublessor in the manner required under the Prime Lease, but subject to the modifications set forth in this Sublease. Sublessee’s obligations to pay additional rent shall survive the termination or expiration of this Sublease in the same manner as provided under the Prime Lease.
(d) Sublessor shall supply Sublessee with a copy of any backup documentation it receives from the Prime Landlord in connection with invoices for increases in Taxes, Operating Expenses, Air Conditioning Costs or Tenant’s A/C Payment with respect to the 23rd Floor Premises.
(e) All sums of money (except for Base Rent) as shall become due from and payable by Sublessee to Sublessor hereunder shall be deemed additional rent. If Sublessee fails to make any payment of additional rent when due, Sublessor shall have the same rights and remedies with respect thereto as for a default in payment of Base Rent when due. All Base Rent and additional rent shall be paid to Sublessor at its office at the Building, or such other place, or to such agent and at such place, as Sublessor may designate by ten (10) days’ prior written notice to Sublessee, without any abatement, deduction, counterclaim, setoff or defense whatsoever, in lawful money of the United States of America.
(f) Sublessee is responsible for paying for all charges for all services, materials, and other items provided to the Sublessee (or on its behalf) by or on behalf of the Prime Landlord or its contractors or agents to the extent such services, materials, and other items are not required, pursuant to the Prime Lease, if ever applicable, Tenant to be provided without charge.
(g) Sublessee shall payalso pay to Sublessor, as additional rent, any and all amounts other than annual fixed rent, which, by the terms of the Prime Lease become due and payable by Sublessor to Prime Landlord and which would not have become due and payable but for the acts, requests for services, and/or failures to act of Sublessee, its agents, officers, representatives, employees, servants, contractors, invitees, licensees or visitors (“Sublessee Surcharges”) but Sublessee shall not be required to pay for any costs imposed by Prime Landlord to the extent the same arise from Sublessor’s negligence or willful misconduct. Within a reasonable time after receipt by Sublessor of any statement or written demand from Prime Landlord including any Sublessee Surcharges, Sublessor will furnish Sublessee with a copy of such statement or demand together with Sublessor’s statement of the amount of any such Sublessee Surcharges, and Sublessee shall pay to Sublessor the amount of such Sublessee Surcharges within ten (10) days after Sublessee’s receipt of such statement or demand; provided, however, that in any instance in which Sublessee shall receive any such statement or demand directly from Prime Landlord, Sublessee may pay the amount of the same directly to Prime Landlord and provide a copy of same to Sublessor. Sublessee shall have the right to make requests for additional or specific services directly to the Prime Landlord to the extent permitted by the Prime Landlord but shall provide Sublessor with notice or a copy of any such request.
(h) If payment of any Base Rent or additional rent shall not have been paid to Sublessor by the fifth (5th) day after the date on which such amount was due and payable, the interest and late charges set forth in the Prime Lease for any late payments shall be due and payable by Sublessee on demand, which interest and charges are agreed on by Sublessor and Sublessee as representative of the fair and reasonable estimate of costs Sublessor will incur by reason of Sublessee’s failure to make prompt payment. In the event of a default in payment of any interest or late charges, Sublessor shall have (in addition to all other amounts of money and charges required to be paid by Tenant under this Lease. As used remedies) the same rights as provided in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable Sublease (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first day of each calendar month during the term of this Lease, at the address for the payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation the provisions of the Prime Lease incorporated by reference) for all rent, nonpayment of Base Rent. Nothing contained in this Article and no acceptance of interest or late charges by Sublessor shall be made deemed to extend or change the time for payment of Base Rent or additional rent.
(i) Sublessee shall make arrangements to obtain electrical service for the 23rd Floor Premises directly from the applicable utility company and shall pay when due all charges for the electricity consumed in the 23rd Floor Premises and all electric current used in the operation of the heating, ventilation and air-conditioning servicing the 23rd Floor Premises (including the Floor Unit (as defined in the Original Prime Lease)) and any supplemental air conditioning, fans and motors. Sublessee shall continue, at its cost and expense, the maintenance service agreement currently in place for the supplemental unit (or an equivalent maintenance agreement) throughout the Sublease Term.
(j) Sublessee acknowledges that the 23rd Floor Premises are subject to additional air-conditioning and cleaning/garbage removal costs. Sublessor shall submit copies of any bills or invoices provided by wire transfer in Prime Landlord for such commercially reasonable manner additional services and per such commercially reasonable requirements to accomplish Sublessee shall pay these additional costs as and when the same as Landlord may from time to time requirebecome due.
Appears in 1 contract
Samples: Sublease (Primus Guaranty LTD)
Base Rent and Additional Rent. Tenant shall pay to Landlord the following amounts as Base rent for each Master Lease (“Base Rent”) will be calculated in accordance with the Premises:
Shopping Center pro forma attached hereto as Schedule I (the “Pro Forma”). For example, Base Rent for the Inline Master Lease will be at an annual rate of $30 per foot for the premises under the Inline Master Lease. Master Lease Rent will commence on the Closing Date. As premises are removed from a Master Lease in accordance with Section 3 above, Base Rent will be adjusted accordingly. In addition to Base Rent, Seller will pay all base rent due with respect to any Tenant Lease which has not yet started paying base rent as of the Closing Date – such base rent to be paid under the applicable Master Lease (the “Additional Base Rent”). Additional Base Rent attributable to each such Tenant Lease will commence as of the Closing Date regardless of whether the tenant thereunder is entitled to free rent and shall be calculated in accordance with the annual base rent specified in such Tenant Lease. For example, if (a) During there is a Tenant Lease in the term inline space that is not an Earn Out Lease as of this Lease, Tenant shall pay to Landlord, as the Closing Date and has not started paying base rent, then under the amount of Inline Master Lease, Seller will pay Purchaser Additional Base Rent specified for such Tenant Lease until the rent commencement date (i.e., the date all free rent periods have expired) under such Tenant Lease has occurred (with Seller being obligated to resume payment of such Additional Base Rent under the conditions set forth in the Basic Lease Information.
Section 2 above); and (b) During each calendar year Seller elects to construct the Pad Site N Multi-Tenant Building, Seller will pay Purchaser Additional Base Rent with respect to that portion of the Pad Site N Multi-Tenant Building which was leased prior to commencement of construction until the rent commencement date (or part thereofi.e., the date all free rent periods have expired) during under such Tenant Lease has occurred (with Seller being obligated to resume payment of such Additional Base Rent under the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlordconditions set forth in Section 2 above) and, as additional monthly rentto the remaining portion of the Pad Site N Multi-Tenant Building, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in until the Earn Out Conditions with respect to such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such yearspace have been satisfied. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively term “base rent” is sometimes referred to as the “NNN Chargesminimum guaranteed rental” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that under a Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacementsLease.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first day of each calendar month during the term of this Lease, at the address for the payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time require.
Appears in 1 contract
Samples: Agreement of Sale and Purchase (Stratus Properties Inc)
Base Rent and Additional Rent. As Base Rent and additional rent for the entire Term, including any subsequent Renewal Terms or Renewal Option Terms, the Tenant shall pay to the Landlord the following amounts as rent for the Premises:
(a) During the term of this Lease, Tenant shall pay to Landlord, as base rent, the amount of Base Rent specified in the Basic Lease Information.
(b) During each calendar year (or part thereof) during the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such year. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively sometimes referred to as the “NNN Charges” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacements.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first day of each calendar month during the term of this Lease, at the address for the payment of rent specified set forth in the Basic Lease InformationSection 1(a) above, or to such other person or at such other place as the Landlord may from time to time designate designate, without notice or previous demand therefore, and without set-off, deduction, counterclaim, abatement, reduction or defense, in writing. Time currency or immediately-available funds which at the time of payment is legal tender for public and private debts in the United States of America, the entire applicable sum, payable monthly, as set forth in Section 1 above in advance on the first day of each month during the Term of this Lease, except the third month’s rent which shall be strictly payable upon the execution of this Lease (it being acknowledged that the first sixty (60) days of Base Rent for the Initial Premises is fully abated following the Commencement Date and the first one hundred twenty (120) days Base Rent for the Subsequent Space is fully abated for the Subsequent Space following the Commencement Date for the final portion of the essence in respect Subsequent Premises to be delivered by Landlord to Tenant so that Landlord has delivered the Entire Premises to Tenant. For the purpose of this Lease “Additional Rent” shall mean all payments due Landlord. All payments sums, charges, or amounts of whatever nature (other than Annual Base Rent to be paid by Tenant to Landlord made in accordance with the provisions of this Lease), including, without limitation, Tenant’s Share of Tax Rent, Expense Rent, fees and expenses incurred by Landlord as a result of instituting, prosecuting, or defending any action or proceeding that are payable under this Lease, including without limitation whether or not such sums, charges, or amounts are referred to as “Additional Rent” and, except as otherwise set forth herein, are due ten (10) business days after invoicing. Landlord shall have the same remedies for all rentdefault in the payment for Additional Rent as for default in the payment of Base Rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements subject to accomplish same as Landlord may from time to time requireSection 31.
Appears in 1 contract
Base Rent and Additional Rent. Tenant shall pay to Landlord the following amounts as Base rent for each Master Lease (“Base Rent”) will be calculated in accordance with the Premises:
Shopping Center pro forma attached hereto as Schedule I (the “Pro Forma”). For example, Base Rent for the Inline Master Lease will be at an annual rate of $30 per foot for the premises under the Inline Master Lease. Master Lease Rent will commence on the Closing Date. As premises are removed from a Master Lease in accordance with Section 3 above, Base Rent will be adjusted accordingly. In addition to Base Rent, Seller will pay all base rent due with respect to any Tenant Lease which has not yet started paying base rent as of the Closing Date – such base rent to be paid under the applicable Exhibit “H” - 2 Master Lease (the “Additional Base Rent”). Additional Base Rent attributable to each such Tenant Lease will commence as of the Closing Date regardless of whether the tenant thereunder is entitled to free rent and shall be calculated in accordance with the annual base rent specified in such Tenant Lease. For example, if (a) During there is a Tenant Lease in the term inline space that is not an Earn Out Lease as of this Lease, Tenant shall pay to Landlord, as the Closing Date and has not started paying base rent, then under the amount of Inline Master Lease, Seller will pay Purchaser Additional Base Rent specified for such Tenant Lease until the rent commencement date (i.e., the date all free rent periods have expired) under such Tenant Lease has occurred (with Seller being obligated to resume payment of such Additional Base Rent under the conditions set forth in the Basic Lease Information.
Section 2 above); and (b) During each calendar year Seller elects to construct the Pad Site N Multi-Tenant Building, Seller will pay Purchaser Additional Base Rent with respect to that portion of the Pad Site N Multi-Tenant Building which was leased prior to commencement of construction until the rent commencement date (or part thereofi.e., the date all free rent periods have expired) during under such Tenant Lease has occurred (with Seller being obligated to resume payment of such Additional Base Rent under the term of this Lease, if ever applicable as provided above concerning Tenant’s Total Asset Obligations, Tenant shall pay to Landlordconditions set forth in Section 2 above) and, as additional monthly rentto the remaining portion of the Pad Site N Multi-Tenant Building, Tenant’s Percentage Share of all (x) CAM Expenses paid or incurred by Landlord in until the Earn Out Conditions with respect to such year; (y) Property Taxes paid or incurred by Landlord in such year; and (z) Insurance Costs paid or incurred by Landlord in such yearspace have been satisfied. The charges for the foregoing CAM Expenses, Property Taxes and Insurance Costs are also herein collectively term “base rent” is sometimes referred to as the “NNN Chargesminimum guaranteed rental” or the “Triple Net Charges”. Notwithstanding the foregoing, so long as this Lease remains as initially structured so that under a Tenant retains its Total Asset Obligations, then there shall be no charges passed through to Tenant under parts (x), (y) and (z) immediately above for such NNN Charges (subject to any Landlord’s insurance premium and cost charges separately invoiced to Tenant as provided below); and Tenant shall directly, timely and properly undertake and effectuate all obligations of payment and performance for all aspects of the Total Asset Obligations. Tenant will periodically (as reasonably determined by Landlord) deliver to Landlord copies of reasonable evidence of its timely and proper direct payment of the foregoing costs and charges to the appropriate party in each case; thus including without limitation the direct payment to the taxing authority of all Property Taxes, direct payment to all insurance companies of all premiums and costs for all Insurance Costs, and direct contracting and payment for all services and maintenance and repairs and replacements in and to the Premises and common areas, including without limitation to and for the building in which the Premises are situated (and its roof and all of its electrical, mechanical and plumbing systems), the structure and foundation and slabs and exterior walls thereof, exterior surfaces, windows, and window cleaning, maintenance, repair and painting; and common areas parking lot and grounds-keeping including without limitation landscaping maintenance, upkeep and replacementsLease.
(c) Throughout the term of this Lease, if ever applicable, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease. As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable (as applicable) by Tenant in accordance with this Lease. Tenant shall pay without notice, demand, deduction or offset all Base Rent and (if applicable) additional monthly rent under Section 3.1 hereof to Landlord, in advance, on or before the first day of each calendar month during the term of this Lease, at the address for the payment of rent specified in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Time shall be strictly of the essence in respect of all payments due Landlord. All payments to Landlord made under this Lease, including without limitation for all rent, shall be made by wire transfer in such commercially reasonable manner and per such commercially reasonable requirements to accomplish same as Landlord may from time to time require.
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Samples: Sale and Purchase Agreement (Stratus Properties Inc)