Common use of BASE RENT AND SECURITY DEPOSIT Clause in Contracts

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance Base Rent Installment shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 2 contracts

Samples: Office Lease (SecureWorks Corp), Office Lease (SecureWorks Holding Corp)

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BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions, except as otherwise expressly provided herein. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance first full monthly installment of Base Rent Installment and Tenant’s Proportionate Share of Operating Expenses shall be payable within thirty (30) days following the Date upon Tenant’s execution of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentbased on actual days in such months and paid in advance. In the event When Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, Additional Rent and parking charges, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until Within ten (10) business days after following the mutual execution and delivery of this Lease, Tenant shall deliver to Landlord a letter of credit from a United States based bank, reasonably acceptable to Landlord, in the amount of One Hundred Nine Thousand Two Hundred and Thirty One and 20/100 Dollars ($109,231.20) (the “Tenant Letter of Credit”), provided that the Tenant Letter of Credit is in the same form as the form of letter of credit attached as Exhibit F hereto, or in such other form satisfactory to Landlord, in its sole but reasonable discretion. Landlord hereby approves Comerica as the issuing bank if selected by Tenant to issue the Tenant Letter of Credit. At a minimum such Tenant Letter of Credit shall provide for the following: (a) it shall terminate no sooner than Termination Date of this Lease, or, if it shall terminate earlier, the Tenant Letter of Credit shall provide that it will automatically renew during each year of the Lease Term or replaced annually until the Termination Date, unless Landlord (the beneficiary thereof) is notified in writing by the issuer at least thirty (30) days prior to the expiration date that the Tenant Letter of Credit will not be renewed or replaced; and if Landlord is so notified of such non-renewal/non-replacement and Tenant does not replace the Tenant Letter of Credit on or prior to the date on which is thirty (30) days prior to the expiration of the current Tenant Letter of Credit, Landlord (the beneficiary thereof) shall have the right to draw the full amount of such Tenant Letter of Credit prior to such earlier expiration date, and the amounts so drawn shall be held, applied and disbursed in accordance with the terms of this Paragraph 2 (c) of the Lease (provided, however, Landlord shall have actually received deliver such funds, and (ii) Landlord shall be deemed proceeds to have accepted such payment if (and only if) Tenant within said ten (10) day periodbusiness days following Tenant’s posting of a new Tenant Letter of Credit which complies with the terms of this Paragraph 2(c)), (b) it shall be irrevocable, and (c) it shall be transferable to any successor to Landlord’s interest under the Lease and the Project. If at any time during the Lease Term, the bank or financial institution that issues the letter of credit is declared insolvent, or is placed into receivership by the Federal Deposit Insurance Corporation or any other governmental or quasi-governmental institution, or if there is a material adverse change in the financial or business condition of the bank or financial institution from the date of the Lease which could threaten the viability of the Tenant Letter of Credit as reasonably determined by Landlord, then following written notice from Landlord, Tenant shall have thirty (30) days to replace the Tenant Letter of Credit with a new letter of credit from a bank or financial institution reasonably acceptable to Landlord in Landlord’s reasonable discretion (which approval shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence be unreasonably withheld and shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.granted or denied within

Appears in 2 contracts

Samples: Office Lease (Sienna Biopharmaceuticals, Inc.), Office Lease (Sienna Biopharmaceuticals, Inc.)

BASE RENT AND SECURITY DEPOSIT. (a) 2.1. Tenant agrees to pay during each month of the Lease Term as to Landlord Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, without notice, demand, deduction or offset, commencing set off at the monthly rate as set forth below: MONTHS OF MONTHLY TERM RENT --------- ----------- 1-12 $252,159.92 13-24 $259,918.68 25-36 $267,677.45 The first monthly installment of Base Rent shall be due and payable on the Phase I Commencement Date and continuing thereafter a monthly installment of Base Rent shall be due and payable on or before the first day of each calendar month thereafter until following the expiration Commencement Date during the Lease Term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease TermTerm shall be prorated. 2.2. The Advance All rent (including Base Rent Installment and Additional Rent as provided in Section 3) and other payments required to be made by Tenant to Landlord shall be payable within thirty to Landlord at the address set forth in Section 21 or at such other address as Landlord may specify from time to time by written notice. Tenant's obligation to pay rent and any other amounts to Landlord under the terms of this Lease shall not be deemed satisfied until such rent and other amounts have been actually received as good funds by Landlord. 2.3. Tenant shall give to Landlord a security deposit (30in the form of cash or a letter of credit in a form reasonably satisfactory to Landlord) days following in the Date amount of $NONE, which shall be held by Landlord as a security deposit for Tenant's performance of all of the terms, covenants and conditions of this Lease (the "SECURITY DEPOSIT"). If Tenant defaults under any provision of this Lease. The obligation , Landlord may (but shall not be required to) use, apply or retain all or any part of Tenant this Security Deposit for the payment of any amount Landlord may spend by reason of Tenant's default or to pay Rent and other sums to compensate Landlord and the obligations for any loss or damage Landlord may suffer because of Landlord under this Lease are independent obligationsTenant's default. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement DateSecurity Deposit is so used or applied, Tenant agrees it shall be bound by and subject shall, within ten (10) days after written demand, deposit cash with Landlord in an amount sufficient to all terms, covenants, conditions and obligations of this Lease during restore the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent Security Deposit to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) its original amount. Landlord shall not be deemed required to have accepted such payment until keep the Security Deposit separate from its general funds, and Tenant shall not be entitled to interest on the Security Deposit. If Tenant performs each of its obligations under this Lease, the Security Deposit, or any balance thereof, shall be returned to Tenant within ten (10) days after the later of the expiration of the Lease term or the date on which Landlord shall have actually received such fundsTenant vacates the Premises. 2.4. If any Base Rent, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) Additional Rent, or any other sums payable hereunder by Tenant are not paid within said ten (10) day perioddays after any such Base Rent, Landlord shall Additional Rent, or other sum becomes due, a late charge of five percent (5%) of the amount due and not have refunded paid or One Hundred Dollars (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence $100.00), whichever is greater, shall be construed payable by the Tenant as a special handling charge. Notwithstanding the foregoing, no late charge shall be payable by Tenant with respect to place the first time in each calendar year that Tenant in default of Tenant’s obligation fails to pay any Base Rent, Additional Rent, or any other sums payable hereunder by Tenant within ten (10) days after any such Base Rent, Additional Rent, or other sum becomes due. If any Base Rent, Additional Rent if and for so long as or any other sums payable hereunder by Tenant are not paid within thirty (30) days after any such Base Rent, Additional Rent, or other sum becomes due, then in addition to the above stated late charge, Tenant shall timely pay Landlord interest on all sums due and not paid at an annual rate of interest (the Rent required pursuant "Default Rate") equal to this Lease in the manner reasonably designated lesser of (a) nine percent (9%), or (b) the highest rate permitted by Landlordlaw. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Eddie Bauer Holdings, Inc.), Lease Agreement (Eddie Bauer Holdings, Inc.)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month to Landlord as rent the sum of One hundred eight thousand seven hundred twenty and no/100 Dollars ($108,720.00) subject to adjustment for early or delayed occupancy under the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent terms hereof. Such rent shall be payable in consecutive monthly installmentsamounts of One Thousand eight hundred twelve and no/100 Dollars ($1,812.00) each, in advance, without notice, demand, deduction or offset, commencing offset (sometimes referred to in this Lease as the "Base Rent" or "Base Rental"). Such rental amounts shall be due and payable to Landlord in lawful money of the United States of America at the address shown below. An amount equal to one monthly Base Rental payment shall be due and payable on the Phase I date Tenant executes this lease and such amount shall be applied to the rent due for the first complete calendar month occurring after the Commencement Date, provided that if the Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance Base Rent Installment shall should be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day date other than the first day of a calendar monthunder this Lease. Upon the occurrence of any event of default by Tenant or breach by Tenant of its covenants under this Lease. Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use, apply, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 retain all or part of the applicable annual Rentsecurity deposit for the payment of any rent or other sum in default, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or for payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant default or breach, or to compensate Landlord for any damage, injury, expense or liability caused to Landlord by such default or breach. In the event Landlord delivers possession of all or If any portion of the Premises security deposit is so used or applied, Tenant shall, within five (5) days alter written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to the amount required by this Paragraph. Tenant's failure to do so shall be a default under this Lease. The balance of the security deposit shall be returned by Landlord to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations at such time after termination of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment that all of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement DateTenant's obligations have been fulfilled. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment Other remedies for nonpayment of Rent are initially cashed notwithstanding, if the monthly Base Rental payment is not received by Landlord on or deposited before the tenth (10th) day of the month for which such rent is due, or if any other payment due Landlord by Tenant hereunder (such sums being deemed to be additional Rent) is not received by Landlord on or before the tenth (10th) day of the month next following the month in which Tenant was invoiced, a Person service charge of five percent (5%) of such past due amount shall be additionally due and payable by Tenant. Such service charge shall be cumulative of any other than remedies Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account may have for nonpayment of Landlord, then, for any Rent and all purposes other sums payable under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] If three (e3) consecutive monthly Rental payments or any five (5) monthly Rental payments during the Lease term (or any renewal or extension thereof) are not received by Landlord on or before the tenth (10th) day of the month for which such Rent was due, the Base Rent hereunder shall automatically become due and payable by Tenant in advance in quarterly installments equal to three (3) months' Base Rent each. The parties agree that for all purposes hereunder the Premises first of such quarterly Base Rent payments shall be stipulated to contain due and payable on the number of square feet of Rentable Area described in Item 3 first day of the Basic Lease Provisions next succeeding calendar month and Paragraph 2 on the first day of Exhibit F to this Leaseevery third (3rd) calendar month thereafter. This remedy shall be cumulative of any other remedies of Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to under this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as nonpayment of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”)Rent. (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 2 contracts

Samples: Commercial Lease Agreement (Avanex Corp), Commercial Lease Agreement (Avanex Corp)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant X. Xxxxxx agrees to pay during each month of the Lease Term as to Landlord Monthly Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, without notice, demand, deduction deduction, or offsetset off, commencing for the entire Lease Term at the rate specified in the Basic Lease Information, and Addendum A payable in monthly installments. The first monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing thereafter monthly installments of Monthly Base Rent shall be due and payable on the first day of each calendar month thereafter until succeeding the expiration of Commencement Date during the Lease Term. The Advance , except that the payment of Monthly Base Rent Installment for any fractional calendar month at the commencement or end of this Lease shall be payable prorated on the basis of a 30-day month. B. In addition, Xxxxxx agrees to deposit with Landlord on the date hereof a security deposit in the amount specified in the Basic Lease Information, which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit, not the last month's rent and not a measure of Landlord's damages in the event of Tenant's default. Upon the occurrence of any default by Tenant under this Lease, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such deposit to the extent necessary to make good any arrears of rent or other payment due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default; or to perform any obligation required of Tenant under this Lease; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant within thirty (30) days of the date following the Date termination of this Lease. The obligation Lease that all of Tenant to pay Rent and other sums to Landlord and the Tenant's obligations of Landlord under this Lease are independent obligationshave been fulfilled. If Tenant may not mortgage, assign, transfer or encumber the Phase I Commencement Date or Security Deposit and any such act on the Phase II Commencement Date is a day other than the first day part of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month Tenant shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentwithout force or effect. In the event Landlord delivers possession of all any bankruptcy, insolvency, reorganization or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it other creditor-debtor proceedings shall be bound instituted by and subject to all termsor against Tenant, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord Security Deposit shall be deemed to have accepted such be applied first to the payment if (of Monthly Base Rent, Additional Rent and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to all other sums payable under this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that to Landlord for all purposes hereunder periods prior to the Premises shall be stipulated to contain the number institution of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses such proceedings and the year-end adjustment of such payments are intended to pass on to Tenant balance, if any, may be retained by Landlord and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Leaseapplied against Landlord's damages.

Appears in 1 contract

Samples: Lease Agreement (Advanced Materials Group Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees A. Xxxxxx xxxees to pay during each month of the Lease Term as to Landlord Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, without notice, demand, deduction or offsetset off, commencing for the entire Lease Term hereof at the rate specified in the Basic Lease Information, payable in monthly installments. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the Lease Term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment period shall be payable within thirty (prorated on the basis of a 30) days following -day month. B. In addition, Tenaxx xxxees to deposit with Landlord on the Date date hereof a security deposit in the amount specified in the Basic Lease Information, which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit, not the last month's rent nor a measure of Landlord's damages in the event of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such deposit to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default; or to perform any obligation required of Tenant under the Lease; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this Lease. The obligation Lease that all of Tenant to pay Rent and other sums to Landlord and the Tenant's obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other have been fulfilled, but in any case no later than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. forty-five (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (1045) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to obligations under this Lease in the manner reasonably designated by Landlordhave been fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Amazon Com Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of Twenty-two thousand six hundred ninety-six and No/100 Dollars ($22,696.00) per month. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease period shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. prorated. B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of Twenty-two thousand six hundred ninety-six and no/100 Dollars ($22,696.00), which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease that all purposes of Tenant's obligations under this Lease: (i) Landlord shall not be deemed to lease have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordbeen fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Warehouse Lease Agreement (Radiant Systems Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance first full monthly installment of Base Rent Installment shall be payable within thirty (30) days following the Date upon full execution of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentbasis. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment Simultaneously with the full execution of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: , Tenant has paid or will pay Landlord the security deposit (ithe “Security Deposit”) in Item 7 of the Basic Lease Provisions as security for the performance of the provisions hereof by Tenant, if applicable. Landlord shall not be deemed required to have accepted such keep the Security Deposit separate from its general funds and Tenant shall not be entitled to interest thereon. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment until of Rent or the cleaning of the Premises upon the termination of this Lease, or amounts which Landlord may be entitled to recover pursuant to the provisions of Section 1951.2 of the California Civil Code, Landlord may, but shall not be required to, use, apply or retain all or any part of the Security Deposit (i) for the payment of any Rent or any other sum in default, (ii) for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default hereunder, or (iii) to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default hereunder, including, without limitation, costs and reasonable attorneys’ fees incurred by Landlord to recover possession of the Premises following a default by Tenant hereunder. The use or application of the Security Deposit or any portion thereof shall not prevent Landlord from exercising any other right or remedy provided hereunder or under any Law and shall not be construed as liquidated damages. If any portion of the Security Deposit is so used or applied, Tenant shall, upon demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit within ten (10) business days after to the date on which Landlord appropriate amount, as determined hereunder. If Tenant shall have actually received such fundsfully perform every provision of this Lease to be performed by it, and (ii) Landlord the Security Deposit or any balance thereof shall be deemed returned to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded Tenant (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default last assignee of Tenant’s obligation interest hereunder) within thirty (30) days following the expiration of the Lease Term; provided, however, that Landlord may retain the Security Deposit until such time as any amount due from Tenant in accordance with Paragraph 3 below has been determined and paid to pay Rent if and for so long as Landlord in full. Tenant shall timely pay hereby waives the Rent required pursuant provisions of Section 1950.7 of the California Civil Code. Tenant also waives all provisions of law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to this Lease remedy defaults in the manner payment of rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably designated necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by Landlordthe act or omission of Tenant or any Tenant Affiliates (as defined in Paragraph 6(g)(i) below). (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions Provisions. Upon the request of either Tenant or Landlord during any extension or renewal of the Initial Term, Landlord’s space planner shall verify the exact number of square feet of Rentable Area in the Premises. If during any extension or renewal of the Initial Term there is a variation of three percent (3%) or more from the number of square feet specified in Item 3 of the Basic Lease Provisions, Landlord and Paragraph 2 of Exhibit F Tenant shall execute an amendment to this LeaseLease for the purpose of making appropriate adjustments to the Base Rent, the Security Deposit, Tenant’s Proportionate Share and such other provisions hereof as shall be appropriate under the circumstances. Landlord calculated the usable square footage of the Premises Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the BOMA 2017 “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard.). (fe) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses Notwithstanding anything to the contrary contained in this Lease, and the year-end adjustment of such payments are intended to pass on to provided that Tenant and reimburse Landlord for Tenant’s Proportionate Share of faithfully performs all costs and expenses of the nature described in Paragraph 3 terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant’s obligation to pay Base Rent for months two (2) through seven (7) of the Initial Term. During such abatement period, Tenant shall still be responsible for the payment of all of its other monetary obligations otherwise payable under this Lease during such period.

Appears in 1 contract

Samples: Office Lease (Tandem Diabetes Care Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during to Landlord the Base Rent for the Premises, each month in advance, without demand, deduction or setoff, for the entire Lease Term hereof at the monthly installments specified in the Basic Lease Information. The monthly installment of Base Rent for the first month of the Lease Term as Base Rent (“Base Rent”) for shall be due and payable on the Premises date hereof and a like monthly installment shall be due and payable on or before the sums shown for such periods in Item 5 first day of the Basic second (2nd) month of the Lease Provisions. (b) Except as expressly provided to the contrary hereinTerm, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing then on the first day of each calendar month thereafter until the expiration of during the Lease Term. The Advance rent payment for any fractional calendar month at the commencement or end of the Lease Term shall be prorated on the basis of a 30-day month. Base Rent Installment and Additional Rent shall be payable within thirty referred to herein as “Rent.” Tenant has the right to remit payment by check or ACH. Landlord shall provide Bank Routing and Accounting information upon request. Landlord’s preferred method for receipt of Rent is by ACH. (30b) days following In addition, Tenant agrees to deposit with Landlord on the Date date hereof the Security Deposit, which shall be held by Landlord during the Lease Term, including any renewals and any holdover tenancy or tenancy at will thereafter, without obligation for interest, as security for the performance of Tenant’s covenants and obligations under this Lease, it being expressly understood and agreed that the Security Deposit is not an advance rental deposit, not the last month’s rent nor a measure of Landlord’s damages in the event of Tenant’s default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy or a limitation on any of Landlord’s damages provided herein or provided by law, use the Security Deposit to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default; or to perform any obligation required of Tenant under this Lease; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Although the Security Deposit shall be deemed the property of Landlord, any remaining balance of the Security Deposit shall be returned by Landlord to Tenant at such time after termination of this LeaseLease that all of Tenant’s obligations under this Lease have been fulfilled. The obligation Landlord may deposit the Security Deposit in any account(s) it determines in its sole discretion is appropriate. All or any part of Tenant the Security Deposit may be assigned by Landlord to pay Rent and other sums to Landlord and the obligations any successor of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar monthLease, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for and upon such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which assignment Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on no liability to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this LeaseSecurity Deposit.

Appears in 1 contract

Samples: Lease Agreement (Leatt Corp)

BASE RENT AND SECURITY DEPOSIT. Tenant shall pay to Landlord at Landlord’s address set out above, or at such other place as Landlord may designate in writing, the sum of Ten Thousand Eight Hundred Thirty-Three Dollars and Thirty-Three Cents (a$10,833.33) Tenant agrees to pay during each per month of the Lease Term as Base Rent (“the Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein), Base Rent shall be due and payable in consecutive monthly installments, in advance, without notice, demand, deduction advance on or offset, commencing on the Phase I Commencement Date and continuing on before the first day of each calendar and every month thereafter until during the expiration of the Lease Term. The Advance Base Rent Installment shall be payable within thirty (30) days following the Date Primary Term of this Lease. The obligation ; provided, however, the first six (6) months of Tenant to pay Base Rent and other sums to Landlord and any partial Base Rent if the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than not on the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated paid at closing on the Commencement Date. If Tenant shall fail to pay, when the same is due and payable, any rent or other amounts or charges set out in this Lease, Tenant shall pay Landlord a per diem basis service charge equal to 1/365 five percent (5%) of the applicable annual Rentpast due sum. In addition, interest shall accrue on all past due sums at a rate equal to one and one-half percent (1 1/2%) per month. Notwithstanding the event Landlord delivers possession service charge and interest charge, Tenant shall be in default of all any payment required to be made by Tenant if not made at or any portion of before the Premises to Tenant prior to times herein stipulated. On the Phase I Commencement Date, Tenant agrees it shall deposit with Landlord the sum of Ten Thousand Eight Hundred Thirty-Three Dollars and Thirty-Three Cents ($10,833.33) (“the Security Deposit”), which Security Deposit shall be bound held by Landlord, without obligation for interest, as security for the full timely and subject to all terms, covenants, conditions faithful performance of Tenant’s covenants and obligations under this Lease, it being expressly understood and agreed that the Security Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such funds to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by any event of Tenant’s default; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Although the Security Deposit shall be deemed the property of the Landlord, any remaining balance of the Security Deposit shall be returned by Landlord to Tenant at such time after termination of this Lease during that Landlord shall have determined all of Tenant’s obligations under this Lease have been fulfilled. Subject to the period between other terms and conditions contained in this Lease, if the date possession is delivered and Premises are conveyed by Landlord, the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent Security Deposit may be turned over to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlordgrantee, thenand if so, for Tenant hereby releases Landlord from any and all purposes under this Lease: (i) Landlord shall not be deemed liability with respect to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, Security Deposit and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (its application or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordreturn. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Commercial Lease Agreement (IMAC Holdings, Inc.)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Leased Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of See Addendum One, Item 1 Dollars ($-----) per month. One such monthly installment shall be due and payable on the Phase I Commencement Date and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment period shall be payable within thirty prorated. b) In addition, Tenant agrees to deposit with Landlord on the date hereof the sum of Eleven Thousand One Hundred Ninety One and no/100 Dollars (30) days following $11,191.00), which sum shall be held by Landlord, without obligation for interest, as security for the Date performances of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default; and Tenant shall pay to Landlord demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this Lease. The obligation Lease that all of Tenant to pay Rent and other sums to Landlord and the Tenant's obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Datehave been fulfilled. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Genaissance Pharmaceuticals Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof, according to Exhibit B, Paragraph 24, attached hereto and made a part hereof. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable, without demand, on or before the first day of each calendar month thereafter until succeeding the expiration "commencement date" during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement of the Lease Term. The Advance Base Rent Installment lease shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. prorated. B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of Ten Thousand and No/100 Dollars ($10,000.00), which sum shall be bound hold by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord, on demand, the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease that all purposes of the Tenant's obligations under this Lease: (i) Landlord shall not be deemed to lease have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordbeen fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Mentor Corp /Mn/)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance first full monthly installment of Base Rent Installment shall be payable within thirty (30) days following the Date upon Tenant’s execution of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentbasis. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment Simultaneously with the execution of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: , Tenant has paid or will pay Landlord the security deposit (ithe “Security Deposit”) in Item 7 of the Basic Lease Provisions as security for the performance of the provisions hereof by Tenant, if applicable. Landlord shall not be deemed required to have accepted such keep the Security Deposit separate from its general funds and Tenant shall not be entitled to interest thereon. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment until ten (10) days after of Rent or the date on cleaning of the Premises upon the termination of this Lease, or amounts which Landlord may be entitled to recover pursuant to the provisions of Section 1951.2 of the California Civil Code, Landlord may, but shall have actually received such fundsnot be required to, and use, apply or retain all or any part of the Security Deposit (i) for the payment of any Rent or any other sum in default, (ii) for the payment of any other amount which Landlord shall be deemed may spend or become obligated to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default spend by reason of Tenant’s obligation default hereunder, or (iii) to pay Rent if compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default hereunder, including, without limitation, costs and for reasonable attorneys’ fees incurred by Landlord to recover possession of the Premises following a default by Tenant hereunder. The use or application of the Security Deposit or any portion thereof shall not prevent Landlord from exercising any other right or remedy provided hereunder or under any Law and shall not be construed as liquidated damages. If any portion of the Security Deposit is so long used or applied, Tenant shall, upon demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit within five (5) business days to the appropriate amount, as determined hereunder. If Tenant shall timely pay the Rent required pursuant to fully perform every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within thirty (30) days following the expiration of the Lease Term; provided, however, that Landlord may retain the Security Deposit until such time as any amount due from Tenant in accordance with Paragraph 3 below has been determined and paid to Landlord in full. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code. Tenant also waives all provisions of law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the manner payment of rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably designated necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by Landlordthe act or omission of Tenant or any Tenant Affiliates (as defined in Paragraph 6(g)(i) below). Notwithstanding anything herein to the contrary, provided that Tenant is not then in default under the terms of this Lease after applicable notice and cure periods, as of the first day of the fourth month of the Lease Term, the Security Deposit shall be reduced by an amount equal to $6,053.60 (and such amount shall be applied towards the next installment of Base Rent due hereunder) so that thereafter the Security Deposit under this Lease shall be in an amount equal to $30,834.72. Notwithstanding anything herein to the contrary, provided that Tenant is not then in default under the terms of this Lease after applicable notice and cure periods, as of the first day of the fifth month of the Lease Term, the Security Deposit shall be reduced by an amount equal to $6,053.60 (and such amount shall be applied towards the next installment of Base Rent due hereunder) so that thereafter the Security Deposit under this Lease shall be in an amount equal to $24,781.12. Notwithstanding anything herein to the contrary, provided that Tenant is not then in default under the terms of this Lease after applicable notice and cure periods, as of the first day of the tenth month of the Lease Term, the Security Deposit shall be reduced by an amount equal to $6,053.60 (and such amount shall be applied towards the next installment of Base Rent due hereunder) so that thereafter the Security Deposit under this Lease shall be in an amount equal to $18,727.52. Notwithstanding anything herein to the contrary, provided that Tenant is not then in default under the terms of this Lease after applicable notice and cure periods, as of the first day of the eleventh month of the Lease Term, the Security Deposit shall be reduced by an amount equal to $6,053.60 (and such amount shall be applied towards the next installment of Base Rent due hereunder) so that thereafter the Security Deposit under this Lease shall be in an amount equal to $12,673.92. Notwithstanding anything herein to the contrary, provided that Tenant is not then in default under the terms of this Lease after applicable notice and cure periods, as of the first day of the twelfth month of the Lease Term, the Security Deposit shall be reduced by an amount equal to $6,053.60 (and such amount shall be applied towards the next installment of Base Rent due hereunder) so that thereafter the Security Deposit under this Lease shall be in an amount equal to $6,620.32. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 Provisions. Upon the request of Exhibit F to this Lease. Landlord calculated the usable square footage during any extension or renewal of the Premises described Initial Term, Landlord’s space planner shall verify the exact number of square feet of Rentable Area in the Premises. If during any extension or renewal of the Initial Term there is a variation from the number of square feet specified in Item 3 of the Basic Lease Provisions Provisions, Landlord and Paragraph 2 of Exhibit F Tenant shall execute an amendment to this Lease using for the “Standard Method for Measuring Floor Area in Office Buildings,” approved as purpose of June 7making appropriate adjustments to the Base Rent, 1996 by the American National Standards InstituteSecurity Deposit, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and such other provisions hereof as shall be appropriate under the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Leasecircumstances.

Appears in 1 contract

Samples: Office Lease (Aethlon Medical Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as to Landlord Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentspremises, in advancexxxance, without notice, demand, deduction or offsetset off, commencing for the entire Lease Term hereof at the rate specified in the Basic Lease Information, payable in monthly installments. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly install shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the Lease Term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment period shall be payable within thirty (30) days following prorated on the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day basis of a calendar 30-day month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. . B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof a sxxxxxxy deposit in the amount specified in the Basic Lease Information, which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit, not the last month's rent nor a measure of Landlord's damages in the event of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such deposit to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense, or liability caused by such event of default; or to perform any obligation required of Tenant under the Lease; and Tenant shall pay to Landlord on demand the amount so applxxx xx order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At that all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay 's obligations under the Rent required pursuant to this Lease in the manner reasonably designated by Landlordhave been fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Sparkling Spring Water Holdings LTD)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of to Landlord the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, without notice, demand, deduction or offsetset off, for the entire Term hereof initially at the rate set forth in Paragraph 1 of this Lease. Base Rent shall be automatically increased each twelve (12) months during the Initial Term by two percent (2%) commencing on the Phase I date that is one year after the first day of the month succeeding the Commencement Date and continuing on each annual anniversary date thereof during the Initial Term. One such monthly installment of Base Rent, plus monthly estimated payments of Tenant’s Tax Payment, Tenant’s Expense Payment, Tenant’s Insurance Payment, Tenant’s Shop Electrical Payment, Tenant’s Office Electrical Payment and Management Fee Payment, shall be due and payable on the Commencement Date and a like monthly installment (annually adjusted to the extent provided above) shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the hereby demised Term, except that the rental payment for any fractional calendar month at the commencement or end of the lease period shall be prorated. Failure by Tenant to pay any one monthly installment of Base Rent by the date such payment was due shall be considered an Event of Default (as defined in subparagraph 19.A below) to the extent provided by such subparagraph. Upon such failure by Tenant to pay any amount payable by Tenant to Landlord pursuant to this Lease Term(whether Base Rent or any other amount or charge payable by Tenant to Landlord) within five (5) days of when such installment is due, Tenant shall pay to Landlord upon demand a late charge in the amount of five percent (5%) of the unpaid amount; provided, however, Tenant shall have no obligation to pay such late charge in connection with the first payment of rent due during any twelve (12) calendar month period of time which is not paid by Tenant within ten (10) days of such due date but is paid on or before the fifth (5th) day after Tenant’s receipt of written notice of its failure to make such payment when due. Failure to pay such late charge shall likewise be considered an Event of Default. Landlord and Tenant acknowledge and agree that such late charge (1) represents a fair and reasonable estimate of the costs Landlord will incur in processing any delinquent payment by Tenant, and (2) shall not constitute, or be deemed to constitute, interest payable with respect to the applicable delinquent payment. The Advance Base Rent Installment provision for such late charge shall be payable in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not be construed as liquidated damages or as limiting Landlord’s remedies in any manner. B. Tenant agrees to pay to Landlord, as additional rental, all charges for any services, goods, or materials furnished by Landlord at Tenant’s request which are not required to be furnished by Landlord under this Lease within twenty (20) days after Landlord renders a statement therefor to Tenant. C. In addition, Tenant agrees to deposit on the Commencement Date $30,000.00 with Landlord (the “Landlord Deposit”) and $200,000.00 with the Escrow Agent (the “Escrow Agent Deposit”), which Landlord Deposit shall be held by Landlord, without obligation for interest, and which Escrow Agent Deposit shall be held by the Escrow Agent for the benefit of Landlord and Tenant pursuant to the Escrow Agreement, each as security for the performance of Tenant’s covenants and obligations under this Lease, it being expressly understood and agreed that neither such deposit is an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Upon the occurrence of any Event of Default, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use either the Landlord Deposit or the Escrow Agent Deposit, as Landlord may elect, to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by such Event of Default; and Tenant shall pay to Landlord, on demand, the amount so applied in order to restore the Security Deposit to its original amount. Although the Security Deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant within thirty (30) days following after the Date expiration or any earlier termination of this Lease other than any termination after the occurrence and during the continuance of an Event of Default, provided that all of Tenant’s obligations under this Lease have been fulfilled (with respect to the Escrow Agent Deposit portion of the Security Deposit, Landlord shall, if Tenant is entitled to a return of the same, take all actions necessary pursuant to the Escrow Agreement to cause the Escrow Agent, or its successor, to deliver the required funds to Tenant). If Landlord transfers its interest in the Premises during the term of this Lease. The obligation , Landlord may assign the Landlord Deposit and Landlord’s rights under the Escrow Agreement to the transferee and thereafter shall have no further liability for the return of Tenant to pay Rent and other sums to Landlord and such Security Deposit provided that such transferee has assumed the obligations of Landlord under this Lease are independent obligations. If and the Phase I Commencement Date or Escrow Agreement from and after the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 effective date of the applicable annual Rent. In the event transfer. D. Landlord delivers possession of all or any portion of the Premises to and Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations agree that each provision of this Lease during the period between the date possession for determining charges, amounts and other rentals payable by Tenant is delivered and the Phase I Commencement Datecommercially reasonable and, other than the payment of Base Rentas to each such charge or amount, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to constitutes a “lockboxmethod by which the charge is to be computedor other depository whereby checks issued in payment for purposes of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 Section 93.012 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this LeaseTexas Property Code, which Section was originally enacted by House Xxxx 2186, 77th Legislature. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7ACCORDINGLY, 1996 by the American National Standards InstituteTENANT VOLUNTARILY AND KNOWINGLY WAIVES ALL RIGHTS AND BENEFITS, Inc. (ANSIIF ANY, AVAILABLE TO TENANT UNDER SECTION 93.012 OF THE TEXAS PROPERTY CODE, AS SUCH SECTION NOW EXISTS OR AS IT MAY BE HEREAFTER AMENDED, SUCCEEDED AND/IBOMA Z65.1-1996; the “BOMA Standard”)OR RENUMBERED. (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Aquilex Corp)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions, except as otherwise provided herein. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance first full monthly installment of Base Rent Installment shall be payable within thirty (30) days following the Date upon Tenant’s execution of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentbasis. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, Additional Rent and parking charges, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Simultaneously with the Tenant’s execution and delivery of this Lease, Tenant shall pay Rent deliver to Landlord the Letter of Credit (as defined below) as the Security Deposit hereunder. Landlord shall not be required to keep any proceeds of the Letter of Credit, to the extent drawn, separate from its general funds and Tenant shall not be entitled to interest thereon. With respect to the Letter of Credit, it shall be in the form of a Letter of Credit (the lockbox” or other depository whereby checks issued Letter of Credit”), substantially in payment of Rent are initially cashed or deposited by the form and substance as set forth in Exhibit G attached hereto, from a Person other than bank acceptable to Landlord (albeit on in Landlord’s authorityreasonable determination (which approval shall not be unreasonably withheld and shall be granted or denied within ten (10) or funds are wired or otherwise transferred directly into an account business days) in the initial amount of Landlordthe Security Deposit, thenas set forth in Item 7 of the Basic Lease Provisions, as security for any and all purposes under the performance of the provisions hereof by Tenant. As of the Date of this Lease, Landlord hereby approves City National Bank as the Bank if selected by Tenant. At a minimum the Letter of Credit shall provide for the following: (i) it shall terminate no sooner than thirty days following the actual expiration date of the Lease Term, or, if it shall terminate earlier, the Letter of Credit shall provide that it will automatically renew or be replaced annually unless Landlord (the beneficiary thereof) is notified in writing by the issuer at least thirty (30) days prior to the expiration date that the Letter of Credit will not be renewed or replaced; and if Landlord is so notified of such non-renewal/non-replacement and Tenant does not replace the Letter of Credit on or prior to the date which is thirty (30) days prior to the expiration of the current Letter of Credit, Landlord (the beneficiary thereof) shall have the right to draw the full amount of such Letter of Credit prior to such earlier expiration date and the amounts so drawn shall be held by Landlord as a Security Deposit, and applied and disbursed in accordance with the terms of the next following Paragraph (provided, however, Landlord shall not be deemed deliver such proceeds to have accepted such payment until Tenant within ten (10) business days after following Tenant’s posting of a new Letter of Credit which complies with the date on which Landlord terms of this Paragraph 2(b)); (b) it shall have actually received such fundsbe irrevocable, and (iic) Landlord it shall be deemed transferable to any successor to Landlord’s entire interest under this Lease and the Building. If at any time during the Lease Term the bank or financial institution that issues the letter of credit is declared insolvent, or is placed into receivership by the Federal Deposit Insurance Corporation or any other governmental or quasi-governmental institution, or if the bank or financial institution that issues the letter of credit does not have accepted a “Short Term Issuer Default” Fitch Rating of at least “F 1”, and a “Long Term Issuer Default” Fitch Rating of at least “A” (or in the event such payment if Fitch Ratings are no longer available, a comparable rating from Standard and Poor’s Professional Rating Service or Xxxxx’x Professional Rating Service), then following written notice from Landlord, Tenant shall have thirty (30) days to replace the Letter of Credit with a new letter of credit from a bank or financial institution acceptable to Landlord in Landlord’s reasonable discretion (which approval shall not be unreasonably withheld and only if) shall be granted or denied within said ten (10) business days). If Tenant does not replace the Letter of Credit with a new letter of credit from a bank or financial institution reasonably acceptable to Landlord within such fifteen (15) business day period, then notwithstanding anything in the Lease to the contrary, Landlord shall not have refunded the right to draw upon the Letter of Credit for the full amount of the Letter of Credit and retain and apply such proceeds from the Letter of Credit in accordance with the terms of this Paragraph 2(c) regarding the Security Deposit. Provided no event of default past applicable cure periods by the Tenant exists as of the last day of the forty-eighth (or attempted 48th) month of the Initial Term, then the amount of the Letter of Credit may be reduced on the first day of the forty-ninth (49th) month of the Initial Term by the sum of $949,768.00 (i.e., equal to refund15% of the original Letter of Credit amount) such payment to Tenant. Nothing contained so that the Letter of Credit deposited with Landlord thereafter shall be in the immediately preceding sentence sum of $5,382,018.00. Provided no event of default past applicable cure periods by the Tenant exists as of the last day of the sixtieth (60th) month of the Initial Term, then the amount of the Letter of Credit may be reduced on the first day of the sixty-first (61st) month of the Initial Term by the sum of $949,768.00 (i.e., equal to 15% of the original Letter of Credit amount) so that the Letter of Credit deposited with Landlord thereafter shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated sum of $4,432,250.00. Provided no event of default past applicable cure periods by Landlord. the Tenant exists as of the last day of the seventy-second (d72nd) [Intentionally deleted.] month of the Initial Term, then the amount of the Letter of Credit may be reduced on the first day of the seventy-third (e73rd) The parties agree month of the Initial Term by the sum of $949,768.00 (i.e., equal to 15% of the original Letter of Credit amount) so that for all purposes hereunder the Premises Letter of Credit deposited with Landlord thereafter shall be stipulated to contain in the number sum of square feet $3,482,482.00. Provided no event of Rentable Area described in Item 3 default past applicable cure periods by the Tenant exists as of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage last day of the Premises described in Item 3 eighty-fourth (84th) month of the Basic Lease Provisions and Paragraph 2 Initial Term, then the amount of Exhibit F the Letter of Credit may be reduced on the first day of the eighty-fifth (85th) month of the Initial Term by the sum of $949,768.00 (i.e., equal to this Lease using 15% of the “Standard Method for Measuring Floor Area original Letter of Credit amount) so that the Letter of Credit deposited with Landlord thereafter shall be in Office Buildings,” approved the sum of $2,532,714.00. Provided no event of default past applicable cure periods by the Tenant exists as of June 7the last day of the ninety-sixth (96th) month of the Initial Term, 1996 then the amount of the Letter of Credit may be reduced on the first day of the ninety-seventh (97th) month of the Initial Term by the American National Standards Institutesum of $949,768.00 (i.e., Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended equal to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses 15% of the nature described original Letter of Credit amount) so that the Letter of Credit deposited with Landlord thereafter shall be in Paragraph 3 the sum of this Lease$1,582,946.00. Provided no event of default past applicable cure periods by the Tenant exists as of the last day of the one hundred eighth (108th) month of the Initial Term, then the amount of the Letter of Credit may be reduced on the first day of the one hundred ninth (109th) month of the Initial Term by the sum of $949,768.00 (i.e., equal to 15% of the original Letter of Credit amount) so that the Letter of Credit deposited with Landlord thereafter shall be in the sum of $633,178.00. Provided no event of default past applicable cure periods by the Tenant exists as of the last day of the one hundred twentieth (120th) month of the Initial Term, then the amount of the Letter of Credit may be reduced on the first day of the one hundred twenty-first (121st) month of the Initial Term by the sum of $140,676.73 so that the Letter of Credit deposited with Landlord thereafter shall be in the sum of $492,501.27.

Appears in 1 contract

Samples: Office Lease (Honest Company, Inc.)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Leased Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of See Addendum One (_____) per month. One such monthly installment shall be due ---------------- and payable on the Phase I Commencement Date or before October 1, 1999 and continuing a likely monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment period shall be payable prorated. b) In addition, Tenant agrees to deposit with Landlord on the date hereof the sum of THIRTY TWO THOUSAND FIVE HUNDRED FOUR AND 00/00 Dollars ($32,504.00), which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default, and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord any remaining balance of such deposit shall be returned by Landlord to Tenant within thirty sixty (3060) days following the Date after all of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the Tenant's obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Datehave been fulfilled. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Learningstar Corp)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentspremises, in advance, without notice, demand, deduction or offsetset off, commencing except as expressly set forth in this Lease to the contrary, for the entire term hereof at the rates per month during the time periods indicated as set forth in Additional Provisions Paragraph 30 below, subject to adjustment in accordance with Additional Provisions Paragraph 30 below. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof in the amount of $49,717.33 as an advance payment of Tenant's base rent for the first full calendar month of the Lease term, and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment period shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated prorated on a per diem basis equal to 1/365 of the applicable annual Rentbasis. The Tenant's rental payment schedule shall be as set forth in Additional Provisions Paragraph 30 below. B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of Fifty Five Thousand Nine Hundred Fifty-Three and 07/100 Dollars ($55,953.07), which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any uncured event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease that all purposes of Tenant's obligations under this Lease: (i) Landlord shall not be deemed to lease have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such fundsbeen fulfilled, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in with no uncured event of default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordexisting hereunder. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Warehouse Lease Agreement (First Horizon Pharmaceutical Corp)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentspremises, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of see "Rental Rate" paragraph on attached Addendum Dollars ($________) per month. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing on a like monthly installment shall be due and payable or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease period shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. prorated. B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of Two Thousand Nine Hundred Fifty-Three and No/Dollars ($2,953.00), which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease that all purposes of Tenant's obligations under this Lease: (i) Landlord shall not be deemed to lease have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordbeen fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Luminex Corp)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month to Landlord in lawful money of the Lease Term as United States Base Rent (“Base Rent”) for the Premises entire Term at the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsrates set forth above per month, in advance, without notice, demand, deduction or offset, commencing except that the monthly installment which otherwise shall be due on the Phase I Commencement Date Date, shall be due and continuing payable on the date hereof. Thereafter one such monthly installment shall be due and payable without demand on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date; further provided, that the rental payment for any fractional calendar month at the commencement or termination of the Lease Term. The Advance Base Rent Installment Term shall be payable prorated. B. Tenant agrees to deposit with Landlord, upon execution of this lease, the sum of $64,000.00 in cash or in the form of an unconditional, irrevocable, transferable letter of credit as security for the full and faithful performance of each and every term, provision, covenant and condition of this lease to be performed by Tenant. If Tenant defaults with respect to any of the terms, provisions, covenants and conditions of this lease including, but not limited to, payment of the base rent or other amounts due Landlord hereunder, Landlord may use, apply or retain the whole or any part of the security deposit for the payment of any such base rent or any other sum in default, or for the payment of any other sum which Landlord may spend or be obligated to spend by reason of Tenant’s default or to compensate Landlord for any loss or damage which Landlord may suffer by reason of Tenant’s default, including, without limitation, any damages or deficiency in the reletting of the leased premises, whether such damages or deficiency shall have accrued before or after any re-entry by Landlord. If the security deposit or any part thereof shall be so used, applied or retained by Landlord, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit (or restore the balance of the letter of credit) to its amount immediately prior to Landlord’s use or application of the security, and Tenant’s failure to do so shall be a material breach of this lease. Except to the extent required by law, Landlord shall not be required to keep said cash security deposit separate from their general funds and Tenant shall not be entitled to interest on any security deposit. If Tenant shall fully and faithfully perform every provision of this lease to be performed by it, said security deposit or any balance thereof shall be returned to Tenant (or at Landlord’s option to the last assignee of Tenant’s interest hereunder) within thirty (30) days following after the Date expiration of the term and Tenant’s vacation of the leased premises. Landlord may deliver the security deposited hereunder by Tenant to the purchaser of Landlord’s interest in the Building in the event that such interest is sold, and thereupon Landlord shall be discharged from any further liability with respect to said security deposit. Tenant hereby agrees not to look to any mortgagee as mortgagee, mortgagee in possession or successor in title to the Building for any security deposit required by Landlord hereunder, unless said security deposit has actually been received by said mortgagee or successor in title as security for Tenant’s performance of this Leaselease. C. The letter of credit or cash security deposit may be reduced to the following amounts during the lease term as follows: $51,200 at the end of the 12th lease month $38,400 at the end of the 24th lease month $25,600 at the end of the 36th lease month $12,800 at the end of the 48th lease month, to remain in effect until lease termination. The obligation of reduction as described above shall only occur if Tenant to pay Rent and other sums to Landlord and has not had any late rental payments in the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant twelve months prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Datereduction. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Mountains West Exploration Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, without notice, demand, deduction or offsetset off, commencing for years one through three, Three Thousand Three Hundred Ninety-Three and 00/100 Dollars ($3,393.00) per month; and for years four and five, Three Thousand Nine Hundred Fifteen and 00/100 Dollars ($3,915.00) per month). One such monthly installment, including monthly common area maintenance payments, shall be due and payable on the Phase I Commencement Date date hereof and continuing a monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease period shall be payable within thirty (30) days following the Date of this Leaseprorated. The obligation of Failure by Tenant to pay Rent and other sums to Landlord and any one monthly installment of rent by the obligations of Landlord under this Lease are independent obligations. If tenth (10) day from the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for date such partial month payment was due shall be calculated on a per diem basis equal to 1/365 considered an event of default in accordance with the applicable annual Rent. In the event Landlord delivers possession provisions of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations Paragraph 18(a) of this Lease during the period between the date possession lease agreement. Upon such failure by Tenant to pay any rental installment within five (5) days of when such installment is delivered and the Phase I Commencement Datedue, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, thenon demand, for any and all purposes under this Lease: a late charge in an amount equal to five percent (i5%) Landlord shall not be deemed of such installment. Failure to have accepted pay such payment until late charge within ten (10) days after the date on which Landlord demand shall have actually received likewise be considered an event of default hereunder. The provision for such funds, and (ii) Landlord late charge shall be deemed in addition to have accepted such payment if all of Landlord's other rights and hereunder or at law and shall not be construed as liquidated damages or as limiting Landlord's remedies in any manner. B. Tenant agrees to pay to Landlord, as additional rental, all charges for any services, goods, or materials furnished by Landlord at Tenant's request which are not required to be furnished by Landlord under this Lease (and only ifas well as all other sums payable by Tenant hereunder) within said ten (10) day period, days after Landlord shall not have refunded (or attempted to refund) such payment renders a statement therefor to Tenant. Nothing contained in All past due additional rental amounts shall bear interest from the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay date due until paid at the Rent required pursuant to this Lease in the manner reasonably designated maximum rate allowed by Landlordlaw. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Packaged Ice Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentspremises, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of ELEVEN THOUSAND SIX HUNDRED FORTY FIVE AND NO/100 DOLLARS ($11,645.00) per month. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Termlease period shall be prorated. The Advance Base Rent Installment shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant rental payment is subject to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. adjustment as provided below. B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of ZERO AND NO/100 DOLLARS ($0.00), which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rentdefault, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease that all purposes of Tenant's obligations under this Lease: (i) Landlord shall not be deemed to lease have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordbeen fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Hayes Corp)

BASE RENT AND SECURITY DEPOSIT. (a) 3.1 Tenant agrees to pay during each month to Landlord in lawful money of the Lease Term as United States Base Rent (“Base Rent”) for the Premises entire Term at the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsrates set forth above per month, in advance, without notice, demand, deduction or offset, commencing except that the monthly installment which otherwise shall be due on the Phase I Commencement Date Date, shall be due and continuing payable on the date hereof. Thereafter one such monthly installment shall be due and payable without demand on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date; further provided, that the rental payment for any fractional calendar month at the commencement or termination of the Lease Term. The Advance Base Rent Installment Term shall be payable within thirty (30) days following prorated. 3.2 In addition, Tenant agrees to deposit with Landlord on the Date date hereof the Security Deposit set forth above, which sum shall be held by Landlord, without obligation for interest, as security for the full, timely and faithful performance of Tenant’s covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or by law, use such fund to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by any event of Tenant’s default; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Any remaining balance of such deposit shall be returned to Tenant at such time after termination of this Lease. The obligation of Tenant to pay Rent and other sums to Lease when Landlord and the shall have determined that all Tenant’s obligations of Landlord under this Lease are independent obligationshave been fulfilled. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior Subject to the Phase I Commencement Dateother terms and conditions contained in this Lease, if the Building is conveyed by Landlord, said deposit may be turned over to Landlord’s grantee, and if so, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than hereby releases Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for from any and all purposes under this Lease: (i) Landlord shall not be deemed liability with respect to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, said deposit and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (its application or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordreturn. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (RestorGenex Corp)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant In consideration of said Lease, the Tenant, without prior notice or demand, agrees to pay during each month to the Landlord on a monthly basis a Base Rent for said Leased Premises for the term of the Lease Term as Base follows: In addition, Tenant shall also be responsible for payment of personal property taxes and Rent taxes, if any. For the purpose of this Lease, the term (“Base Rent”) shall include all Base Rent and any Additional Rent owed by Tenant to Landlord as provided for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base . Said Rent shall be due and payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing advance on the first day of each calendar month thereafter until during the expiration Term of this Lease at the office of the Landlord’s Management Agent, or such other place as the Landlord from time to time, in writing, may designate. Rent not received on or before the fifth (5th) day of each month during the Term of this Lease Term. The Advance Base Rent Installment shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by considered delinquent and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner Late Charges as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described enumerated in Paragraph 3 of this Lease. With the execution of this Lease, Tenant has deposited with the Landlord the sum of $18,468.75, of which $10,125.00 shall be applied as February and March Base Rent, $1,593.75 shall be applied as February and March, Property Operating Expenses, $0.00 shall be applied as rental tax, and the balance of $6,750.00 shall be held by Landlord as a Security Deposit. (b) Security Deposit is defined as monies pledged as security for the payment of Rent and other charges herein agreed to be paid, and for the faithful performance of all the terms, conditions, and covenants of this Lease. The Security Deposit shall be held by the Landlord, and no interest shall accrue thereon to the benefit of the Tenant. If at any time during the term of this Lease, Tenant shall be in default in the performance of any provision of this Lease, and shall fail to remedy or cure said default after having received ten (10) days written Notice of same, then the Landlord may, at its option, apply monies held as partial or full satisfaction of said default or declare said Security Deposit to be forfeited. If Landlord applies all or a portion of Tenant’s Security Deposit to cure said default, Tenant agrees to pay to Landlord within ten (10) days of said Notice an equal amount so that the Landlord has at all times a Security Deposit equal to the original amount herein agreed to. Tenant’s failure to do so constitutes a default of this Lease. Within sixty (60) days after the Tenant’s satisfactory completion of this Lease, Landlord shall refund the Tenant’s Security Deposit in full and without interest. (c) No dispute between the Landlord and the Tenant as to Landlord or Tenant obligations under this Lease shall excuse payment of Rent or the faithful performance of any other conditions of this Lease by either Party.

Appears in 1 contract

Samples: Industrial Lease (Cohesant Technologies Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month Lease Month thereafter until the expiration of the Lease Term. The Advance first full monthly installment of Base Rent Installment shall be payable within thirty (30) days following the Date upon Tenant’s execution of this LeaseLease and applied, with regard to the 1100 Premises, to Base Rent for Lease Month 13, and, with regard to the 380 Premises, to Base Rent for Lease Month 49. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentbasis. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord Within five (albeit on 5) business days after Landlord’s authoritydelivery of the fully executed Lease, Tenant has paid or will pay Landlord the security deposit (the “Security Deposit”) or funds are wired or otherwise transferred directly into an account in Item 7 of Landlordthe Basic Lease Provisions as security for the performance of the provisions hereof by Tenant, then, for any and all purposes under this Lease: (i) if applicable. Landlord shall not be deemed required to have accepted keep the Security Deposit separate from its general funds and Tenant shall not be entitled to interest thereon. If an event of default occurs that is not cured within any applicable notice and cure period, including, without limitation, the provisions relating to the payment of Rent or the cleaning and restoration of the Premises upon the termination of this Lease, or amounts which Landlord may be entitled to recover pursuant to the terms hereof, Landlord may, but shall not be required to, use, apply or retain all or any part of the Security Deposit (i) for the payment of any Rent or any other sum in default, (ii) for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s event of default hereunder, or (iii) to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s event of default hereunder, including, without limitation, costs and reasonable attorneys’ fees incurred by Landlord to recover possession of the Premises following an event of default by Tenant hereunder. The use or application of the Security Deposit or any portion thereof shall not prevent Landlord from exercising any other right or remedy provided hereunder or under any Law and shall not be construed as liquidated damages. Notwithstanding anything in this Lease or under Texas law to the contrary, Tenant hereby waives Section 93.004 - 93.011 of the Texas Property Code as such payment until sections of the Texas Property Code relate to the Security Deposit under this Lease. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten (10) business days after demand therefor, deposit cash with Landlord in an amount sufficient to restore the date on which Landlord Security Deposit to the appropriate amount, as determined hereunder. If Tenant shall have actually received such fundsfully perform every provision of this Lease to be performed by it, and (ii) Landlord the Security Deposit or any balance thereof shall be deemed returned to have accepted such payment if Tenant (and only if) within said ten (10) day periodor, Landlord shall not have refunded (or attempted at Landlord’s option, to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default last assignee of Tenant’s obligation interest hereunder) within thirty (30) days following the expiration of the Lease Term; provided, however, that Landlord may retain the Security Deposit until such time as any amount due from Tenant in accordance with Paragraph 3 below has been determined and paid to pay Rent if and for so long as Landlord in full. Tenant shall timely pay the Rent required pursuant also waives all provisions of law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to this Lease remedy defaults in the manner payment of rent, to repair damage caused by Tenant or to clean and restore the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably designated necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by Landlordthe act or omission of Tenant or any Tenant Affiliates (as defined in Paragraph 6(g)(i) below). (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 Provisions. Upon the request of Exhibit F to this Lease. Landlord calculated the usable square footage during any extension or renewal of the Premises described Initial Term, Landlord’s space planner shall verify the exact number of square feet of Rentable Area in the Premises. If during any extension or renewal of the Initial Term there is a variation from the number of square feet specified in Item 3 of the Basic Lease Provisions Provisions, Landlord and Paragraph 2 of Exhibit F Tenant shall execute an amendment to this Lease using for the “Standard Method for Measuring Floor Area in Office Buildings,” approved as purpose of June 7making appropriate adjustments to the Base Rent, 1996 by the American National Standards InstituteSecurity Deposit, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and such other provisions hereof as shall be appropriate under the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Leasecircumstances.

Appears in 1 contract

Samples: Office Lease (Hallmark Financial Services Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant A. Xxxxxx agrees to pay during each month of the Lease Term as Landlord Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, without notice, demand, deduction or offsetset off, commencing for the entire Lease Term hereof at the rate specified in the Base Lease Information, payable to in monthly installments. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the Lease Term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment period shall be payable within thirty (prorated on the basis of a 30) days following -day month. B. In addition, Txxxxx agrees to deposit with Landlord on the Date date hereof a security deposit in the amount specified in the Basic Lease Information, which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit, nor the last months rent nor a measure of Landlord's damages in the event of Tenant default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such deposit to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default; or to perform any obligation required of Tenant under the Lease; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this Lease. The obligation Lease that all of Tenant to pay Rent and other sums to Landlord and the Tenant's obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Datehave been fulfilled. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Tango Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of to Landlord as monthly rental (the Lease Term as Base Rent (“Base Rent”) for the Premises during the sums shown for such periods full term aforesaid the sum of $4,000.00 in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing advance on the first day of the first full calendar month of the term hereof and a like sum on or before the first day of each and every successive calendar month thereafter until during the expiration of term hereof. In the Lease Term. The Advance Base Rent Installment shall be payable within thirty (30) days following event the Date term of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day commences on other than the first day of a calendar the month, or there shall be paid on the Lease Term expires commencement date, a pro rata portion of the Base Rent based on a day other than the last day number of a calendar days remaining in such month, then the Rent for such partial month and subsequent monthly payments shall be calculated on a paid as directed in this Paragraph 3(a). The Base Rent and all other rent provided herein shall be paid to Landlord without deduction or offset in lawful money of the United States of American at: Oxxx X. Xxxxxx Sxxxxx Perforated and Expanded Metals Corp. 700 Xxxxxxx Xxxx Des Plaines, Illinois 60016 or to such other person or at such other place as Landlord may from time to time designate in writing. Any rent (whether Base Rent or additional rent) or other amount due from Tenant to Landlord under this Lease not paid when due shall bear interest from the date due until the date paid at the annual rate (the “Agreed Interest Rate”) of two per diem basis cent (2%) above the rate designated from time to time by LaSalle National Bank of Chicago as its “Prime Rate”, but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. The covenants herein to pay rent (both Base Rent and additional rent) shall be independent of any other covenant set forth in this Lease. (b) Tenant has deposited with Landlord the sum equal to 1/365 Four Thousand and 00/100 Dollars ($4000.00) as security for the full and faithful performance of every provision of this Lease to be performed by Tenant. If Tenant defaults with respect to any provision of this Lease, including but not limited to the applicable annual Rent. In provisions relating to the event payment of rent, Landlord delivers possession of may use, apply or retain all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations part of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than security deposit for the payment of Base Rentany rent and any other sum in default, in or for the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default. If any portion of said deposit is to be used or applied, Tenant shall pay Rent within five (5) days after written demand therefor deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant’s failure to do so shall be a “lockbox” or other depository whereby checks issued in payment material breach of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) . Landlord shall not be deemed required to have accepted keep this security deposit separate from its general funds and Tenant shall not be entitled to interest on such payment until ten (10) days after deposit. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the date on which Landlord shall have actually received such funds, and (ii) Landlord security deposit or any balance thereof shall be deemed returned to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded Tenant (or attempted at Landlord’s option to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default last assignee of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay interest hereunder) at the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 expiration of the Basic Lease Provisions lease term and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage upon Tenant’s vacation of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”)Premises. (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease (Midwest Banc Holdings Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, advance without notice, demand, deduction or offsetset off (except as expressly stated in Paragraph 24 of this Lease Agreement and Additional Provision, commencing on Section 21), from sixty days after the Phase I Commencement Date and continuing for the entire remaining term hereof, at the rate of Forty Thousand Six Hundred Ninety-Two Dollars and 00/100 ($40,692.00) per month. One such monthly installment shall be due and payable on the date hereof and a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease period shall be payable within thirty (30) days prorated. On each and every January 1/st/ following the Commencement Date during the term of this Lease. The obligation of the lease or extension thereof Tenant agrees to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent an additional monthly rental for such partial each month shall be calculated on a per diem basis during that year an amount equal to 1/365 Two and One- Half percent (2.5%) of the applicable annual Rent. previous years December monthly rental. B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the Forty Thousand Six Hundred Ninety-Two Dollars and 00/100 ($40,692.00) Dollars, which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that monetary default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, thenany remaining balance of such deposit shall be returned by Landlord to Tenant within 60 days of the termination of this lease, for any and provided that all purposes of Tenant's obligation under this Lease: (i) Landlord shall not be deemed to lease have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordbeen fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Homegrocer Com Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as otherwise expressly provided in this Lease to the contrary hereincontrary, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date respective commencement dates and continuing on the first day of each calendar month thereafter until the expiration of the respective Lease TermTerms. The Advance Base Rent Installment installment payable upon execution (as set forth in Item 6 of the Basic Lease Provisions) shall be payable within thirty (30) days following the Date execution of this LeaseLease by Tenant and such sum shall be applied towards the first installment of Base rent due hereunder until such time as the installment payable upon execution has been exhausted. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the there are any partial months during any respective Lease Term expires on a day other than the last day of a calendar monthTerm, then the Rent for such partial month shall be calculated on a per diem basis equal basis. (c) Simultaneously with Tenant’s execution and delivery of this Lease, Tenant shall deliver to 1/365 Landlord or Landlord’s attorney a Letter of Credit (the “Letter of Credit”), in form and substance as set forth in Exhibit F attached hereto, or otherwise satisfactory to Landlord in its reasonable discretion, issued from a bank that is listed on Landlord’s approved list of banks, as the same may change from time to time (an “Approved Issuing Bank”), in the initial amount of Six Million Dollars ($6,000,000.00). Landlord’s approved list of banks shall in no event contain less than ten (10) financial institutions with offices in New York, New York or San Francisco, California. The Letter of Credit shall be held by Landlord as security for the performance of the applicable annual Rentprovisions of this Lease by Tenant. At a minimum the Letter of Credit shall provide for the following: (i) It shall terminate no sooner than sixty (60) days following the later to occur of the expiration date of the Phase I Premises Term, Phase II Premises Term, or Phase III Premises Term. If the Letter of Credit is for a shorter period of time, then the Letter of Credit shall automatically renew or be replaced annually unless Landlord (the beneficiary thereof) is notified in writing by the issuer at least sixty (60) days prior to the expiry date that the Letter of Credit will not be renewed or replaced; and if Landlord is so notified of such non-renewal/non-replacement, Landlord (the beneficiary thereof) shall have the right to draw the full amount of such Letter of Credit prior to such earlier expiry date. (ii) It shall be irrevocable. (iii) It shall be transferable to any successor to Landlord’s interest under this Lease. If at any time during the Lease Term the bank or financial institution that issues the Letter of Credit is declared insolvent, or is placed into receivership by the Federal Deposit Insurance Corporation or any other governmental or quasi-governmental institution, or if there is a material adverse change, as reasonably determined by Landlord, in the financial or business condition of the bank or financial institution that issued the Letter of Credit as compared to the issuance of the Letter of Credit, or following its initial one (1) year term the date of its renewal, then following written notice from Landlord, Tenant shall have ten (10) Business Days to replace the Letter of Credit with a new letter of credit from a bank or financial institution on Landlord’s then-current list of approved banks. If Tenant does not replace the Letter of Credit with a new letter of credit, which shall be issued from an Approved Issuing Bank, within such ten (10) Business Day period, then notwithstanding anything in the Lease to the contrary, Landlord shall have the right to draw upon the Letter of Credit for the full amount of the Letter of Credit and apply the proceeds in accordance with the terms of this Paragraph 2(c). Notwithstanding the foregoing, if Landlord approves the form of Letter of Credit, then any discrepancies between the terms of this Paragraph 2(c) and the form of Letter of Credit approved by Landlord shall be governed by the provisions of the Landlord approved Letter of Credit accepted and retained by Landlord. Within ten (10) Business Days following the Phase II-A Delivery Date, the Letter of Credit shall be increased by the sum of Three Million Dollars ($3,000,000) so that the Letter of Credit deposited with Landlord thereafter shall be in the sum of Nine Million Dollars ($9,000,000). Tenant shall deliver to Landlord a new Letter of Credit (or amendment to the existing Letter of Credit) in such increased amount. Within ten (10) Business Days following the Phase III-A Delivery Date, the Letter of Credit shall be increased by the sum of Three Million Dollars ($3,000,000) so that the Letter of Credit deposited with Landlord thereafter shall be in the sum of Twelve Million Dollars ($12,000,000). Tenant shall deliver to Landlord a new Letter of Credit (or amendment to the existing Letter of Credit) in such increased amount. Provided no Material Default (defined in Paragraph 12 of this Lease) by the Tenant has occurred and is continuing, then the amount of the Letter of Credit may be reduced on September 1, 2016 (or such later date as the Material Default has been cured) by the sum of Six Million Dollars ($6,000,000) so that the Letter of Credit deposited with Landlord thereafter shall be in the sum of Six Million Dollars ($6,000,000). Provided no Material Default by the Tenant has occurred and is continuing, then the amount of the Letter of Credit may be reduced on November 1, 2018 (or such later date as the Material Default has been cured) by the sum of Three Million Dollars ($3,000,000) so that the Letter of Credit deposited with Landlord thereafter shall be in the sum of Three Million Dollars ($3,000,000). Provided no Material Default by the Tenant has occurred and is continuing, then the amount of the Letter of Credit may be reduced as of April 30, 2030 (or such later date as the Material Default has been cured) by the sum of Three Million Dollars ($3,000,000) so that the Letter of Credit deposited with Landlord thereafter shall be in the sum of Zero ($0). Landlord agrees to authorize such reduction in writing to the issuer of the Letter of Credit. With respect to the increases and decreases to the Letter of Credit amount as set forth herein, Landlord shall return the original Letter of Credit deposited hereunder to Tenant within five (5) Business Days following Tenant’s delivery of the new Letter of Credit. The Letter of Credit shall be held by Landlord as security for the performance of the provisions of this Lease by Tenant. If Tenant is in Material Default under this Lease, Landlord may draw down the Letter of Credit and use, apply or retain such portion of the proceeds from the Letter of Credit as may be necessary (i) for the payment of any Rent or any other sum in default, (ii) for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s Material Default hereunder to the extent permitted by this Lease, or (iii) to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s Material Default hereunder to the extent permitted by this Lease, including, without limitation, costs and reasonable attorneys’ fees incurred by Landlord to recover possession of any portion of the Premises following a Material Default by Tenant hereunder. The use or application of the proceeds from the Letter of Credit or any portion thereof shall not prevent Landlord from exercising any other right or remedy provided hereunder or under any law and shall not be construed as liquidated damages. In the event Landlord delivers possession draws down the Letter of all Credit pursuant to the terms of this Lease, Landlord shall not be required to keep the proceeds of the Letter of Credit separate from its general funds and Tenant shall not be entitled to interest thereon. If Landlord is notified that the Letter of Credit will not be renewed or replaced as set forth in Paragraph 2(c)(i) above, Landlord shall have the right to draw the full amount of such Letter of Credit commencing thirty (30) days prior to such earlier expiry date and the amounts so drawn shall be held by Landlord as a Security Deposit, and applied and disbursed in accordance with the terms of this Paragraph 2(c). If any portion of the Premises Letter of Credit is used or applied by Landlord in accordance with this Paragraph 2(c), Tenant shall, within ten (10) Business Days after demand therefor, deposit cash or an amended, substituted or replacement Letter of Credit with Landlord in an amount sufficient to restore the Security Deposit to the appropriate amount, as determined hereunder. At any time that Landlord is holding proceeds of the Letter of Credit (and has not applied such proceeds as permitted herein) and provided that Tenant is not in Material Default or has filed for bankruptcy or had an involuntary bankruptcy filed against it, Tenant may deposit a Letter of Credit that complies with all requirements of this Paragraph 2(c), in which event Landlord shall return the cash to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until within ten (10) days after receipt of the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to TenantLetter of Credit. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as If Tenant shall timely pay the Rent required pursuant to fully perform every provision of this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall to be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.performed

Appears in 1 contract

Samples: Office Lease (Salesforce Com Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant X. Xxxxxx agrees to pay during each month of the Lease Term as to Landlord Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, advance without notice, demand, deduction or offsetset off, commencing for the entire Lease Term hereof at the rate specified in the Basic Lease Information, payable in monthly installments. One such monthly installment shall be due and payable on the Phase I Commencement Date and continuing on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the Lease Term except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment period shall be payable within thirty (prorated on the basis of 30) days following -day month. B. In addition, Xxxxxx agrees to deposit with Landlord on the Date date hereof a security deposit in the amount specified in the Basic Lease Information, which sum shall be held by Landlord, without obligation for interest, as security for the performance of tenant's covenants and obligation under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit, not the last month's rent nor a measure of Landlord's damages in the event of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudices to any other remedy provided herein or provided by law, use such deposit to the extent necessary to make good any arrears of rent of other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default; or to perform any obligation required of Tenant under the Lease; and Tenant shall pay Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this Lease. The obligation Lease that all of Tenant to pay Rent and other sums to Landlord and the tenant's obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Datehave been fulfilled. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Gargoyles Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentspremises, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of Two Thousand Two Hundred, Sixty-Eight and No/100 Dollars ($2,268.00) per month. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or and of the Lease Termlease period shall be prorated. The Advance Base Rent Installment shall be payable within thirty (30) days following the Date of this Leaserental payment is subject to adjustment as provided below. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. See Additional Provisions Exhibit "B" B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of Two Thousand, Two Hundred Sixty-Eight and No/100 Dollars ($2,268.00), which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of the lease that all purposes of tenant's obligations under this Lease: (i) Landlord shall not be deemed lease have been fulfilled. If, during the term of this lease, Landlord, in Landlord's sole opinion, judgement and discretion, deems itself insecure as to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed performance or prospect of performance by Tenant as to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default any of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required 's obligations pursuant to this Lease lease, Tenant shall be required to provide Landlord with an additional security deposit, in the manner reasonably designated by an amount and form acceptable to Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Warehouse Lease Agreement (Tekgraf Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) rental for the Premises premises to Landlord or order, without deduction or set off, for the sums shown for entire term hereof, Twelve Thousand Three Hundred Ninety Seven and 00/100 dollars ($12,397.00) per month. One such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent monthly installment shall be due and payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable without demand on or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease term shall be payable within thirty (30) days following prorated. All costs and expenses which are the Date of this Lease. The obligation responsibility of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. also constitute "rent." In the event Tenant fails to pay any installment of rent hereunder (1), to help defray the additional cost to Landlord delivers possession for processing such late payments. Tenant shall pay to Landlord on demand a late charge in an amount equal to (2) of such installment. The provision for such late charge shall be in addition to all of Landlord's other rights and remedies hereunder or at law and shall not be construed as liquidated damages or as limiting Landlord's remedies in any portion of the Premises to Tenant prior to the Phase I Commencement Datemanner. B. In addition, Tenant agrees it to deposit with Landlord on the date hereof the sum of Twenty Four Thousand Seven Hundred Ninety Four and 00/100 dollars ($24,794.00), which sum shall be bound held by and subject to all termsLandlord, covenants(3) for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such funds to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination or expiration of this lease that all purposes of Tenant's obligations under this Lease: lease have been fulfilled (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”4). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Park Electrochemical Corp)

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BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month to Landlord for the premises in lawful money of the Lease Term as Base Rent (“Base Rent”) United States rent for the Premises entire term hereof at the sums shown for such periods in Item 5 rate of the Basic Lease Provisions. Forty Nine Thousand One Hundred Seventy Two and 40/100 Dollars (b$49,172.40) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsper month, in advance, without notice, demand, deduction or offset, commencing except that the monthly installment which otherwise shall be due on the Phase I Commencement Date commencement date recited above, shall be due and continuing payable on the date hereof. Thereafter, one such monthly installment shall be due and payable without demand on or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the demised term; further provided, that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease term shall be payable prorated. B. In addition, Tenant agrees to deposit with Landlord on the date hereof the sum of Forty Nine Thousand One Hundred Seventy Two and 40/100 Dollars ($49,172.40), which sum shall be held by Landlord, without obligation for interest, as security for the full, timely and faithful performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by any event of Tenant's default; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant within thirty (30) days following the Date after termination of this Lease. The obligation of Tenant to pay Rent and other sums to lease when Landlord and the shall have determined that all Tenant's obligations of Landlord under this Lease lease have been fulfilled. Subject to the other terms and conditions contained in this lease, if the premises are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar monthconveyed by Landlord, said deposit may be turned over to Landlord's, or the Lease Term expires on a day other than the last day of a calendar monthits successor's grantee, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateand if so, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of hereby releases Landlord, thenor its successor, as the case may be, as long as Tenant is notified of said conveyance and so long as the successor or grantee has assumed said responsibility for said deposit, from any and all purposes under this Lease: (i) Landlord shall not be deemed liability with respect to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, said deposit and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (its application or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordreturn. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Factory Card Outlet Corp)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant X. Xxxxxx agrees to pay during each month of the Lease Term as to Landlord Monthly Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, without notice, demand, deduction deduction, or offsetset off, commencing for the entire Lease Term at the rate specified in the Basic Lease Information, payable in monthly installments. The first monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing thereafter monthly installments of Monthly Base Rent shall be due and payable on the first day of each calendar month thereafter until succeeding the expiration of Commencement Date during the Lease Term. The Advance , except that the payment of Monthly Base Rent Installment for any fractional calendar month at the commencement or end of this Lease shall be payable prorated on the basis of a 30-day month. B. In addition, Xxxxxx agrees to deposit with Landlord on the date hereof a security deposit in the amount specified in the Basic Lease Information, which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit, not the last month's rent and not a measure of Landlord's damages in the event of Tenant's default. Upon the occurrence of any default by Tenant under this Lease, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such deposit to the extent necessary to make good any arrears of rent or other payment due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default; or to perform any obligation required of Tenant under this Lease; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant within thirty (30) days of the date following the Date termination of this Lease. The obligation Lease that all of Tenant to pay Rent and other sums to Landlord and the Tenant's obligations of Landlord under this Lease are independent obligationshave been fulfilled. If Tenant may not mortgage, assign, transfer or encumber the Phase I Commencement Date or Security Deposit and any such act on the Phase II Commencement Date is a day other than the first day part of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month Tenant shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentwithout force or effect. In the event Landlord delivers possession of all any bankruptcy, insolvency, reorganization or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it other creditor-debtor proceedings shall be bound instituted by and subject to all termsor against Tenant, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord Security Deposit shall be deemed to have accepted such be applied first to the payment if (of Monthly Base Rent, Additional Rent and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to all other sums payable under this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that to Landlord for all purposes hereunder periods prior to the Premises shall be stipulated to contain the number institution of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses such proceedings and the year-end adjustment of such payments are intended to pass on to Tenant balance, if any, may be retained by Landlord and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Leaseapplied against Landlord's damages.

Appears in 1 contract

Samples: Lease Agreement (Homegrocer Com Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during with respect to each calendar month (and proportionately on a per diem basis for any partial calendar month of the Lease Term Term) from and after the Rent Commencement Date as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary hereinin this Lease, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, except as expressly provided herein, commencing on the Phase I Rent Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance first full monthly installment of Base Rent Installment and Tenant’s Proportionate Share of Operating Expenses shall be payable within thirty (30) days following the Date upon Tenant’s execution of this LeaseLease and shall be credited against the Rent next coming due. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment Simultaneously with the execution of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: , Tenant has paid or will pay Landlord the security deposit (ithe “Security Deposit”) in Item 7 of the Basic Lease Provisions as security for the performance of the provisions hereof by Tenant, if applicable. Landlord shall not be deemed required to have accepted such keep the Security Deposit separate from its general funds and Tenant shall not be entitled to interest thereon. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment until ten (10) days after of Rent or the date on restoration of the Premises upon the termination of this Lease, or the payment of amounts which Landlord may be entitled to recover pursuant to the terms hereof, Landlord may, but shall have actually received such fundsnot be required to, and use, apply or retain all or any part of the Security Deposit (i) for the payment of any Rent or any other sum in default, (ii) for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default hereunder, or (iii) to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default hereunder, including, without limitation, costs and reasonable attorneys’ fees incurred by Landlord to recover possession of the Premises following a default by Tenant hereunder. The use or application of the Security Deposit or any portion thereof shall not prevent Landlord from exercising any other right or remedy provided hereunder or under any Law and shall not be construed as liquidated damages. If any portion of the Security Deposit is so used or applied, Tenant shall, upon demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit within five (5) business days to the appropriate amount, as determined hereunder. If Tenant shall fully perform every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be deemed returned to have accepted such payment if Tenant (and only ifor, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within said ten thirty (1030) day perioddays following the expiration of the Lease Term; provided, however, that Landlord may retain the Security Deposit until such time as any amount due from Tenant in accordance with Paragraph 3 below has been determined and paid to Landlord in full and Tenant has surrendered the Premises in accordance with the provisions of law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage caused by the act or omission of Tenant or any Tenant Affiliates (as defined in Paragraph 6(f)(i) below). On the first (1st) anniversary of the Commencement Date, provided that Tenant is not then in default under this Lease and Tenant has not previously been in default, the amount of the Security Deposit shall be reduced to $71,675.00. Provided that the foregoing conditions have been satisfied, Landlord shall not have refunded (or attempted promptly return $35,837.50 to refund) such payment to Tenant. Nothing contained Tenant and the remaining amount of the Security Deposit shall remain in effect at all times during the immediately preceding sentence shall be construed to place Tenant in default remainder of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by LandlordTerm. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises and the Building shall be stipulated to contain the number of square feet of Rentable Area respectively described in Item 3 of the Basic Lease Provisions Provisions. (e) Base Rent shall be paid to Landlord absolutely net of all costs and Paragraph 2 of Exhibit F to expenses, except as otherwise expressly provided in this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-year end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Office Lease (Juniper Pharmaceuticals Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month to Landlord in lawful money of the Lease Term as United States Base Rent (“Base Rent”) for the Premises entire Term at the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsrates set forth above per month, in advance, without notice, demand, deduction or offset, commencing except that the monthly installment which otherwise shall be due on the Phase I Commencement Date Date, shall be due and continuing payable on the date hereof. Thereafter one such monthly installment shall be due and payable without demand on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date; further provided, that the rental payment for any fractional calendar month at the commencement or termination of the Lease Term. The Advance Base Rent Installment Term shall be payable within thirty (30) days following prorated. B. In addition, Tenant agrees to deposit with Landlord on the Date date hereof the Security Deposit set forth above, which sum shall be held by Landlord, without obligation for interest, as security for the full, timely and faithful performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or by law, use such fund to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by any event of Tenant's default; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Landlord may also use such fund to the extent necessary to make good any amounts owing to Landlord as a result of Tenant's failure to leave the Premises in the condition required by this Lease at the termination of this Lease. The obligation Any remaining balance of such deposit shall be returned to Tenant to pay Rent and other sums to at such time after termination of this Lease when Landlord and the shall have determined that all Tenant's obligations of Landlord under this Lease are independent obligationshave been fulfilled. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior Subject to the Phase I Commencement Dateother terms and conditions contained in this Lease, if the Building is conveyed by Landlord, said deposit may be turned over to Landlord's grantee, and if so, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than hereby releases Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for from any and all purposes under this Lease: (i) Landlord liability with respect to said deposit and its application or return. C. Provided no event of default shall not be deemed to then have accepted such payment until ten (10) days after occurred, the date on which Landlord shall have actually received such funds, and (ii) Landlord Security Deposit shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in reduced on the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 third anniversary of the Basic Lease Provisions Commencement Date to Seventy-Three Thousand Seven Hundred Sixteen and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. 16/100 Dollars (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”$73,716.16). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (CURO Group Holdings Corp.)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as to Landlord Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsPremises, in advance, without notice, demand, deduction or offsetset off, commencing for the entire Lease Term hereof at the rate specified in the Basic Lease Information, payable in monthly installments. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the Lease Term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment period shall be payable within thirty (prorated on the basis of a 30) days following -day month. B. In addition, Tenant agrees to deposit with Landlord on the Date date hereof a security deposit in the amount specified in the Basic Lease Information, which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit, not the last month's rent nor a measure of Landlord's damages in the event of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such deposit to the extent necessary to make good any arrears of rent or other payment due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default; or to perform any obligation required of Tenant under the Lease; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this Lease. The obligation Lease that all of Tenant to pay Rent and other sums to Landlord and the Tenant's obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Datehave been fulfilled. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Bioject Medical Technologies Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month Lease Month thereafter until the expiration of the Lease Term. The Advance Base Rent Installment shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentbasis. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent and Additional Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment Simultaneously with the execution of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: , Tenant has paid Landlord the security deposit (ithe “Security Deposit”) in Item 7 of the Basic Lease Provisions as security for the performance of the provisions hereof by Tenant, if applicable. Landlord shall not be deemed required to have accepted such keep the Security Deposit separate from its general funds and Tenant shall not be entitled to interest thereon. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment until ten (10) days after of Rent or the date on cleaning and restoration of the Premises upon the termination of this Lease, or amounts which Landlord may be entitled to recover pursuant to the terms hereof, Landlord may, but shall have actually received such fundsnot be required to, and use, apply or retain all or any part of the Security Deposit (i) for the payment of any Rent or any other sum in default, (ii) for the payment of any other amount which Landlord shall be deemed may reasonably spend or become obligated to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default spend by reason of Tenant’s obligation default hereunder, or (iii) to pay Rent if compensate Landlord for reasonable costs and for so long reasonable attorneys’ fees incurred by Landlord to recover possession of the Premises following a default by Tenant hereunder and Landlord’s exercise of its remedies set forth in Paragraph 12(b)(ii). The use or application of the Security Deposit or any portion thereof shall not prevent Landlord from exercising any other right or remedy provided hereunder or under any Law and shall not be construed as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordliquidated damages. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises and the Building shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 Provisions. Upon the request of Exhibit F to this Lease. Landlord calculated the usable square footage during any extension or renewal of the Initial Term, Landlord’s architect shall verify the exact number of square feet of Rentable Area in the Premises described and/or the Building, pursuant to measurement performed in accordance with BOMA standards. If during any extension or renewal of the Initial Term there is a variation from the number of square feet specified in Item 3 of the Basic Lease Provisions Provisions, Landlord and Paragraph 2 of Exhibit F Tenant shall execute an amendment to this Lease using for the “Standard Method for Measuring Floor Area in Office Buildings,” approved as purpose of June 7making appropriate adjustments to the Base Rent, 1996 by the American National Standards InstituteSecurity Deposit, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and such other provisions hereof as shall be appropriate under the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Leasecircumstances.

Appears in 1 contract

Samples: Office Lease (Markit Ltd.)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance first full monthly installment of Base Rent Installment shall be payable within thirty (30) days following the Date upon Tenant’s execution of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal basis. Notwithstanding the foregoing, provided Tenant is not in monetary or material non-monetary default under this Lease beyond any applicable notice and cure period, Landlord hereby agrees to 1/365 xxxxx Tenant’s obligation to pay the monthly installments of Base Rent for the second (2nd) through twelfth (12th) full months of the applicable annual RentInitial Term (such months being hereinafter referred to as the “Abatement Period”, and such total amount of abated Base Rent being hereinafter referred to as the “Abated Amount”). In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement DateDuring such Abatement Period, Tenant agrees it shall will still be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than responsible for the payment of Base all other monetary obligations under the Lease, including payment of Additional Rent. Tenant acknowledges that any monetary or material non-monetary default by Tenant under this Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertain, therefore, should Tenant at any time during the Term be in monetary or material nonmonetary default after having been given notice and opportunity to cure, then the total unamortized sum of such Abated Amount (amortized on a straight line basis over the Initial Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord and any further rent abatement shall cease immediately notwithstanding that Landlord, in Landlord’s sole discretion, elects to allow the Lease to continue; provided, however, Tenant acknowledges and agrees that nothing in this Section 2(b) is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the same manner as if delivery had occurred on the Phase I Commencement Dateevent Tenant is in monetary or material non-monetary default under this Lease beyond any applicable notice and cure period. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment Simultaneously with the execution of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: , Tenant has paid or will pay Landlord the security deposit (ithe “Security Deposit”) in the amount stated in Item 7 of the Basic Lease Provisions as security for the performance of the provisions of this Lease by Tenant. Landlord shall not be deemed required to have accepted such keep the Security Deposit separate from its general funds and Tenant shall not be entitled to interest thereon. If Tenant defaults with respect to any monetary or material non-monetary provision of this Lease, including, without limitation, the provisions relating to the payment until ten (10) days after of Rent, the date on cleaning of the Premises upon the termination of this Lease, or amounts which Landlord may be entitled to recover pursuant to the provisions of Section 1951.2 of the California Civil Code, Landlord may, but shall have actually received such fundsnot be required to, and use, apply or retain all or any part of the Security Deposit (i) for the payment of any Rent or any other sum in default, (ii) for the payment of any other amount which Landlord shall be deemed may spend or become obligated to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default spend by reason of Tenant’s obligation monetary or material non-monetary default hereunder, or (iii) to pay Rent if compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s monetary or material non-monetary default hereunder, including, without limitation, costs and for reasonable attorneys’ fees incurred by Landlord to recover possession of the Premises following such default by Tenant hereunder. If any portion of the Security Deposit is so long used or applied, Tenant shall, upon demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the appropriate amount, as determined hereunder. If Tenant shall timely pay the Rent required pursuant to fully perform every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within thirty (30) days following the expiration of the Lease Term; provided, however, that Landlord may retain the Security Deposit until such time as any amount due from Tenant in accordance with Paragraph 3 below has been determined and paid to Landlord in full. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code. Tenant also waives all provisions of law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the manner payment of rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably designated necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by Landlordthe act or omission of Tenant or any “Tenant Affiliates” (as that term is defined in Paragraph 6(f)(i) below). The use or application of the Security Deposit or any portion thereof shall not prevent Landlord from exercising any other right or remedy provided hereunder or any Law and shall not be construed as liquidated damages. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”)Provisions. (fe) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-year end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease, below.

Appears in 1 contract

Samples: Office Lease (Encore Capital Group Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant Lessee agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) monthly rent for the Premises leased premises during the sums shown for such periods in Item 5 of the Basic Lease Provisions. term as follows: Year One (b1) Except as expressly provided to the contrary herein, Base $1,165.00 per month Year Two (2) $1,225.00 per month Rent shall be due and payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing to Lessor at the address shown below on the Phase I Commencement Date first day of the month. One monthly installment of rent shall be due and continuing payable on the date of execution of this Lease by Lessee for the first month’s rent and a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration of “commencement date” or “completion date” during the Lease Term. The Advance Base Rent Installment shall be payable within thirty (30) days following demised term; provided, that if the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date “commencement date” or the Phase II Commencement Date is “completion date” should be a day date other than the first day of a the calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month monthly rental set forth above shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior prorated to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations end succeeding calendar month during the demised term. (b) On the date of execution of this Lease during by Lessee, there shall be due and payable by Lessee a security deposit in an amount equal to one monthly rental installment ($1,225.00) to be held for the period between performance by Lessee of Lessee's covenants and obligations under this Lease, it being expressly understood that the date possession is delivered and the Phase I Commencement Date, other than the deposit shall not be considered an advance payment of Base Rentrental or a measure of Lessor's damage in case of default by Lessee. Upon the occurrence of any event of default by Lessee or breach by Lessee of Lessee's covenants under the Lease, in Lessor may, from time to time, without prejudice to any other remedy, use the same manner as if delivery had occurred on security deposit to the Phase I Commencement Dateextent necessary to make good any arrears of rent and/or any damage, injury, expense or liability caused to Lessor by the event of default or breach of covenant, any remaining balance of the security deposit to be returned by Lessor to Lessee upon termination of this Lease. (c) At Other remedies for nonpayment of rent notwithstanding, if the monthly rental payment is not received by Lessor on or before the tenth day of the month for which rent is due, a service charge of ten percent (10%) of all times that Tenant past due amounts owed on such date shall pay Rent become due and payable in addition to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes the regular rent owed under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (AutoWeb, Inc.)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month to Landlord as rent the sum of Five Hundred ------------ Twenty Nine Thousand Three Hundred Eighty and 00/100 dollars ($529,380,00) ---------------------------------------------------- ---------- subject to adjustment for early or delayed occupancy under the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent terms hereof. Such rent shall be payable in consecutive monthly installmentsamounts of Eight Thousand Eight Hundred ---------------------------- Twenty Three and 00/100 Dollars ($8,823,00) each, in advance, without notice, demand, demand ----------------------- -------- deduction or offset, commencing offset (sometimes referred to in this Lease as the "Base Rent" or "Base Rental"). Such rental amounts shall be due and payable to Landlord in lawful money of the United States of America at the address shown below. An amount equal to one monthly Base Rental payment shall be due and payable on the Phase I date Tenant executes this Lease and such amount shall be applied to the rent due for the first complete calendar month occurring after the Commencement Date, provided that if the Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance Base Rent Installment shall should be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day date other than the first day of a calendar month, or month the Lease Term expires on a day other than the last day of a calendar month, then the Rent rent for such partial month shall be calculated prorated. All succeeding installments of rent shall be due and payable on or before the first day of each succeeding calendar month during the Lease term. The amount of the Base Rent shall be adjusted as provided in Paragraph 6 below. (b) On the date Tenant executes this Lease there shall be due and payable by Tenant a per diem basis security deposit in an amount equal to 1/365 one monthly Base Rental installment. Such deposit shall be held by Landlord (without any obligation to pay interest thereon or segregate such monies from Landlord's general funds) as security for the performance of Tenant's obligations under this Lease. Tenant agrees to increase such security deposit from time to time so that it is at all times equal to one monthly Base Rental installment, as adjusted pursuant to Paragraph 6(a) below. Tenant shall deposit cash with Landlord in an amount sufficient so to increase the security deposit within five (5) days after written demand by Landlord. It is expressly understood that the security deposit is not an advance payment of rental or a measure of Landlord's damages in the event of Tenant's default under this Lease. Upon the occurrence of any event of default by Tenant or breach by Tenant of its covenants under this Lease, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use, apply, or retain all or part of the applicable annual Rentsecurity deposit for the payment of any rent or other sum in default, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or for payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant default or breach, or to compensate Landlord for any damage, injury, expense or liability caused to Landlord by such default or breach. In the event Landlord delivers possession of all or If any portion of the Premises security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to the amount required by this Paragraph. Tenant's failure to do so shall be a default under this Lease. The balance of the security deposit shall be returned by Landlord to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations at such time after termination of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment that all of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement DateTenant's obligations have been fulfilled. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment Other remedies for nonpayment of Rent are initially cashed notwithstanding, if the monthly Base Rental payment is not received by Landlord on or deposited before the tenth (10th) day of the month for which such rent is due, or if any other payment due Landlord by Tenant hereunder (such sums being deemed to be additional Rent) is not received by Landlord on or before the tenth (10th) day of the month next following the month in which Tenant was invoiced, a Person service charge of five percent (5%) of such past due amount shall be additionally due and payable by Tenant. Such service charge shall be cumulative of any other than remedies Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account may have for nonpayment of Landlord, then, for any Rent and all purposes other sums payable under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] If three (e3) consecutive monthly Rental payments or any five (5) monthly Rental payments during the Lease term (or any renewal or extension thereof) are not received by Landlord on or before the tenth (10th) day of the month for which such Rent was due, the Base Rent hereunder shall automatically become due and payable by Tenant in advance in quarterly installments equal to three (3) months' Base Rent each. The parties agree that for all purposes hereunder the Premises first of such quarterly Base Rent payments shall be stipulated to contain due and payable on the number of square feet of Rentable Area described in Item 3 first day of the Basic Lease Provisions next succeeding calendar month and Paragraph 2 on the first day of Exhibit F to this Leaseevery third (3rd) calendar month thereafter. This remedy shall be cumulative of any other remedies of Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to under this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as nonpayment of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”)Rent. (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Commercial Lease Agreement (Monitronics International Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, premises in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of Three Thousand Two Hundred Ninety Seven and no/100------------ Dollars ($ 3,297.00) per month. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease period shall be payable within thirty (30prorated. b) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of Two Thousand Eight Hundred Forty Eight and no/100-------- Dollars ($2,848.00), which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease that all purposes of Tenant's obligations under this Lease: (i) Landlord shall not be deemed to lease have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordbeen fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Tekgraf Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Leased Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of; Year 1: $1,551.20 per month, $18,614.40 per year; Year 2: $1,595.52 per month, $19,146.24 per year; Year 3: $1,639.84 per month, $19,678.08 per year. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration Commencement Date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment period shall be payable within thirty prorated. (30b) days following In addition, Tenant agrees to deposit with Landlord on the Date date hereof the sum of $3,191.04, which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury. expense or liability caused by such event of default; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this Lease. The obligation Lease that all of Tenant to pay Rent and other sums to Landlord and the Tenant's obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Datehave been fulfilled. (c) At Tenant agrees to pay the Landlord, as additional rent, concurrent with each monthly base rent installment (or concurrently with any other payment of rent), all times that Tenant shall pay Rent to a “lockbox” privilege, sales, gross receipts, excise, rental or other depository whereby checks issued in payment tax, imposed upon the rentals or monetary obligations herein provided to be paid by Tenant, or upon the rentals or sums received by Landlord, however denominated, whether such imposition of Rent are initially cashed or deposited tax be by a Person other than Landlord (albeit on Landlord’s authority) federal, state or funds are wired local government or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordsubdivision thereof. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Entech Environmental Technologies Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month to Landlord as rent the sum of Three Hundred Ninety-One Thousand Nine Hundred Twenty and 00/100 Dollars ($391,920) subject to adjustment for early or delayed occupancy under the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent terms hereof. Such rent shall be payable in consecutive monthly installmentsamounts of Ten Thousand Six Hundred Fifty and no/100 Dollars ($10,650.00) each, in advance, without notice, demand, demand deduction or offset, commencing offset (sometimes referred to in this Lease as the "Base Rent" or "Base Rental"). Such rental amounts shall be due and payable to Landlord in lawful money of the United States of America at the address shown below. An amount equal to one monthly Base Rental payment shall be due and payable on the Phase I date Tenant executes this Lease and such amount shall be applied to the rent due for the first complete calendar month occurring after the Commencement Date, provided that if the Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance Base Rent Installment shall should be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day date other than the first day of a calendar month, or month the Lease Term expires on a day other than the last day of a calendar month, then the Rent rent for such partial month shall be calculated prorated. All succeeding installments of rent shall be due and payable on or before the first day of each succeeding calendar month during the Lease term. The amount of the Base Rent shall be adjusted as provided in Paragraph 6 below. (b) On the date Tenant executes this Lease there shall be due and payable by Tenant a per diem basis security deposit in an amount equal to 1/365 one Two monthly Base Rental installment. Such deposit shall be held by Landlord (without any obligation to pay interest thereon or segregate such monies from Landlord's general funds) as security for the performance of Tenant's obligations under this Lease. Tenant agrees to increase such security deposit from time to time so that it is at all times equal to one Two monthly Base Rental installment, as adjusted pursuant to Paragraph 6(a) below. Tenant shall deposit cash with Landlord in an amount sufficient so to increase the security deposit within five (5) days after written demand by Landlord. It is expressly understood that the security deposit is not an advance payment of rental or a measure of Landlord's damages in the event of Tenant's default under this Lease. Upon the occurrence of any event of default by Tenant or breach by Tenant of its covenants under this Lease, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use, apply, or retain all or part of the applicable annual Rentsecurity deposit for the payment of any rent or other sum in default, or for the payment of any other amount which Landlord my spend or become obligated to spend by reason of Tenant's default, or for payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant default or breach, or to compensate Landlord for any damage, injury, expense or liability caused to Landlord by such default or breach. In the event Landlord delivers possession of all or If any portion of the Premises security deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to the amount required by this Paragraph. Tenant's failure to do so shall be a default under this Lease. The balance of the security deposit shall be returned by Landlord to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations at such time after termination of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment that all of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement DateTenant's obligations have been fulfilled. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment Other remedies for nonpayment of Rent are initially cashed notwithstanding, if the monthly Base Rental payment is not received by Landlord on or deposited before the tenth (10th) day of the month for which such rent is due, or if any other payment due Landlord by Tenant hereunder (such sums being deemed to be additional Rent) is not received by Landlord on or before the tenth (10th) day of the month next following the month in which Tenant was invoiced, a Person service charge of five percent (5%) of such past due amount shall be additionally due and payable by Tenant. Such service charge shall be cumulative of any other than remedies Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account may have for nonpayment of Landlord, then, for any Rent and all purposes other sums payable under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] If three (e3) consecutive monthly Rental payments in one calendar year or any for five (5) monthly Rental payments during the Lease term (or any renewal or extension thereof) are not received by Landlord on or before the tenth (10th) day of the month for which such Rent was due, the Base Rent hereunder shall automatically become due and payable by Tenant in advance in quarterly installments equal to three (3) months' Base Rent each. The parties agree that for all purposes hereunder the Premises first of such quarterly Base Rent payments shall be stipulated to contain due and payable on the number of square feet of Rentable Area described in Item 3 first day of the Basic Lease Provisions next succeeding calendar month and Paragraph 2 on the first day of Exhibit F to this Leaseevery third (3rd) calendar month thereafter. This remedy shall be cumulative of any other remedies of Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to under this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as nonpayment of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”)Rent. (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Commercial Lease Agreement (Migratec Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, premises in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of SEVEN THOUSAND FIVE HUNDRED AND 00/00 Dollars ($7,500.00) per month. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until at the expiration commencement or end of the Lease Term. The Advance Base Rent Installment lease period shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. prorated. B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of -0- Dollars ($-0-), which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease that all purposes of Tenant's obligations under this Lease: (i) Landlord shall not be deemed to lease have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordbeen fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Comfort Systems Usa Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installments, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance first full monthly installment of Base Rent Installment and Tenant’s Proportionate Share of Operating Expenses shall be payable within thirty (30) days following the Date upon Tenant’s execution of this LeaseLease and shall be applied to Rent (Base Rent plus Operating Expenses) due for the 7th month of the Lease Term. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentbasis. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment Simultaneously with the execution of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: , Tenant has paid or will pay Landlord the security deposit (ithe “Security Deposit”) in Item 7 of the Basic Lease Provisions as security for the performance of the provisions hereof by Tenant, if applicable. Landlord shall not be deemed required to have accepted such keep the Security Deposit separate from its general funds and Tenant shall not be entitled to interest thereon. If Tenant defaults with respect to any provision of this Lease, including, without limitation, the provisions relating to the payment until ten (10) days after of Rent or the date on cleaning of the Premises upon the termination of this Lease, or amounts which Landlord may be entitled to recover pursuant to the terms hereof, Landlord may, but shall have actually received such fundsnot be required to, and use, apply or retain all or any part of the Security Deposit (i) for the payment of any Rent or any other sum in default, (ii) for the payment of any other amount which Landlord shall be deemed may spend or become obligated to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default spend by reason of Tenant’s obligation default hereunder, or (iii) to pay Rent if compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default hereunder, including, without limitation, costs and for reasonable attorneys’ fees incurred by Landlord to recover possession of the Premises following a default by Tenant hereunder. The use or application of the Security Deposit or any portion thereof shall not prevent Landlord from exercising any other right or remedy provided hereunder or under any Law and shall not be construed as liquidated damages. If any portion of the Security Deposit is so long used or applied, Tenant shall, upon demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit within five (5) business days to the appropriate amount, as determined hereunder. If Tenant shall timely pay the Rent required pursuant to fully perform every provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within thirty (30) days following the expiration of the Lease Term; provided, however, that Landlord may retain the Security Deposit until such time as any amount due from Tenant in accordance with Paragraph 3 below has been determined and paid to Landlord in full. Tenant also waives all provisions of law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the manner payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably designated necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by Landlordthe act or omission of Tenant or any Tenant Affiliates (as defined in Paragraph 6(g)(i) below). (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 Provisions. Upon the request of Exhibit F to this Lease. Landlord calculated the usable square footage during any extension or renewal of the Premises described Initial Term, Landlord’s space planner shall verify the exact number of square feet of Rentable Area in the Premises. If during any extension or renewal of the Initial Term there is a variation from the number of square feet specified in Item 3 of the Basic Lease Provisions Provisions, Landlord and Paragraph 2 of Exhibit F Tenant shall execute an amendment to this Lease using for the “Standard Method for Measuring Floor Area in Office Buildings,” approved purpose of making appropriate adjustments to the Base Rent, the Security Deposit, Tenant’s Proportionate Share and such other provisions hereof as of June 7, 1996 by shall be appropriate under the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”)circumstances. (fe) Base Rent shall be paid to Landlord absolutely net of all costs and expenses. The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-year end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Office Lease (Medianet Group Technologies Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentspremises, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of See Paragraph 26 attached hereto and made a part hereof Dollars ($-------------) per month. One such monthly installment shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease period shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. prorated. B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of THREE THOUSAND EIGHT HUNDRED EIGHTY EIGHT & No/100 Dollars ($*3,888.00*), which sum shall be bound held by and subject to all termsLandlord, covenantswithout obligation for interest, conditions as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by such event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, then, for any and remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease that all purposes of Tenant's obligations under this Lease: (i) Landlord shall not be deemed to lease have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordbeen fulfilled. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Glacier Corp)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) to Landlord rent for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentspremises, in advance, without notice, demand, deduction or offsetset off, commencing for the entire term hereof at the rate of See Special Provision 22a Dollars ($ *? ) per month. One such monthly installment plus other monthly charges as set forth in paragraph 2C below shall be due and payable on the Phase I Commencement Date date hereof and continuing a like monthly installment shall be due and payable on or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the hereby demised term, except that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease period shall be payable within thirty prorated. B. In addition Tenant agrees to deposit with Landlord on the date hereof the sum of Seven Thousand Five and 98/100 Dollars (30) days following $7,005.98), which sum shall be held by Landlord, without obligation for interest, as security for the Date performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease that all of Tenant's obligations under this lease have been fulfilled. If, during the term of this Lease. The obligation of Tenant to pay Rent , Landlord, in Landlord's sole opinion, judgment and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar monthdiscretion, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior deems itself insecure as to the Phase I Commencement Date, performance or prospect of performance by Tenant agrees it shall be bound by and subject as to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required 's obligations pursuant to this Lease Lease, Tenant shall be required to provide Landlord with an additional security deposit, in the manner reasonably designated by an amount and form acceptable to Landlord. (d) . [Intentionally Last sentence intentionally deleted.] C. Tenant agrees to pay its proportionate share of (ei) Taxes payable by Landlord pursuant to Paragraph 3(A) below, (ii) common utilities pursuant to Paragraph 8 below, and (iii) Landlord's costs of carrying fire and extended coverage insurance on the Project improvements pursuant to Paragraph 9(A) below. During each month of the term of this lease, Tenant shall make a monthly escrow deposit with Landlord, equal to 1/12 of its proportionate share of all such items which will be due and payable for that particular year. Tenant authorizes Landlord to use the funds deposited with Landlord under this Paragraph 2(C) to pay such costs. The parties agree that initial monthly escrow payments are based upon Tenant's proportionate share of the estimated amounts for the year in question, and the monthly escrow payments are subject to increase or decrease as determined by Landlord to reflect an accurate monthly escrow of Tenant's estimated proportionate share of all purposes hereunder the Premises such items. The escrow payment account of Tenant shall be stipulated reconciled annually. If the Tenant's total escrow payments are less than Tenant's actual proportionate share of all such items, Tenant shall pay to contain Landlord upon demand the difference; if the total escrow payments of Tenant are more than Tenant's actual proportionate share of all such items, Landlord shall retain such excess and credit it to Tenant's next accruing escrow account payments. Tenant's "proportionate share" shall be a fraction, the numerator of which shall be the number of leaseable square feet of Rentable Area described floor space in Item 3 the premises and the denominator of which shall be the number of leasable square feet of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Leaseentire building. Landlord calculated the usable square footage The amount of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved initial monthly escrow payments are as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”).follows: (f1) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described Base Rent as set forth in Paragraph 3 of this Lease.2(A).......................... $* (2) Initial Tax Escrow Payment........................................ $559.58 (3) Initial Insurance Escrow Payment.................................. $11.19 (4) Initial Utility charge, Electric: $44.77, Water: $22.38........... $67.15 (5) Other, Landscaping: $201.45, Maintenance: $11.19..................

Appears in 1 contract

Samples: Lease Agreement (Aetrium Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month to Landlord for the premises in lawful money of the Lease Term as Base Rent (“Base Rent”) United States rent for the Premises entire term hereof at the sums shown for such periods in Item 5 rate of the Basic Lease Provisions. See Paragraph 27 ---------------- Dollars (b$ ------------------------------------------------------------ --------- ) Except as expressly provided to the contrary herein, Base Rent shall be payable in consecutive monthly installmentsper month, in advance, without notice, demand, deduction or offset, commencing except that the monthly installment which --------- otherwise shall be due on the Phase I Commencement Date commencement date recited above, shall be due and continuing payable on the date hereof. Thereafter, one such monthly installment shall be due and payable without demand on or before the first day of each calendar month thereafter until succeeding the expiration commencement date recited above during the demised term; further provided, that the rental payment for any fractional calendar month at the commencement or end of the Lease Term. The Advance Base Rent Installment lease term shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rent. prorated. B. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Dateaddition, Tenant agrees it to deposit with Landlord on the date hereof the sum of Twenty Five Thousand Three Hundred Eighty-Two and 81/100---Dollars ----------------------------------------------------------- ($25,382.81), which sum shall be bound held by Landlord, without obligation for --------- interest, as security for the full, timely and subject to all terms, covenants, conditions faithful performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of this Lease during Landlord's damages in case of Tenant's default. Upon the period between occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the date possession is delivered extent necessary to make good any arrears of rent or other payments due Landlord hereunder, and the Phase I Commencement Dateany other damage, other than the payment injury, expense or liability caused by any event of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant's default; and Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued Landlord on demand the amount so applied in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account order to restore the security deposit to its original amount. Although the security deposit shall be deemed the property of Landlord, thenany remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this lease when Landlord shall have determined that all Tenant's obligations under this lease have been fulfilled. Subject to the other terms and conditions contained in this lease, for if the premises are conveyed by Landlord. said deposit may be turned over to Landlord's. or its successor's, grantee. and if so, Tenant hereby releases Landlord, or its successor, as the case may be, from any and all purposes under this Lease: (i) Landlord shall not be deemed liability with respect to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, said deposit and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (its application or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlordreturn. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Watson Pharmaceuticals Inc)

BASE RENT AND SECURITY DEPOSIT. Except as provided for in this Lease, Tenant will pay to Landlord without deduction or setoff, Rent for each month of the Term . “Rent” means Base Rent, the Operating Expense reimbursements pursuant to Section 5 , the parking rent, plus other amounts provided for in this Lease to be paid by Tenant, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises including any charges and late fees . The Security Deposit shall be held by Landlord, without interest, as security for Xxxxxx's performance under this Lease, and not as an advance payment of rent or a measure of Landlord’s damages . Upon an Event of Default (adefined below) or any damage to the Building or Premises caused by Tenant, its employees or invitees, Landlord may, without prejudice to any other remedy, use the Security Deposit to cure such Event of Default or repair any damage, by providing a written notice to Tenant detailing the damages Landlord alleges have been caused by Tenant and the resultant amounts applied from the Security Deposit therefor . Following any application of the Security Deposit, Tenant shall, on demand, restore the Security Deposit to its original amount . If Tenant is not in default hereunder, any remaining balance of the Security Deposit shall be returned to Tenant upon termination of this Lease . If Landlord transfers its interest in the Premises, Landlord may assign the Security Deposit to the transferee and thereafter shall have no further liability for the Security Deposit so long at the transferee acknowledge its receipt thereof and liability to Tenant therefor . Rent is due, and must be received by Landlord, by the first day of every month, at the address specified by Landlord in either in this Lease (or as updated in writing) . Landlord and its manager will not accept cash payments . Tenant agrees to pay during each month of the Lease Term as Base Rent (“Base Rent”) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary hereinby check, Base Rent shall be payable in consecutive monthly installmentsEFT, in advance, without notice, demand, deduction or offset, commencing on the Phase I Commencement Date and continuing on the first day of each calendar month thereafter until the expiration of the Lease Term. The Advance Base Rent Installment shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a calendar monthcashier’s check, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis equal to 1/365 of the applicable annual Rentcertified funds only . In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date5. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Office Lease (Intrusion Inc)

BASE RENT AND SECURITY DEPOSIT. (a) Tenant agrees shall pay to pay during each month of Landlord throughout the Lease Term a base annual rental of TWO HUNDRED FORTY-SIX THOUSAND FIVE HUNDRED SIXTY-FOUR AND NO/100 DOLLARS ($246,564.00) per year plus any and all sales, use, transaction, or comparable taxes applicable thereto. Said base annual rental (the "Base Rental") shall be subject to adjustment as hereinafter provided in this Lease. Any and all Base Rent (“Rental, together with all taxes thereon, shall be due and payable in advance on or before the first day of January of each year during the Lease Term; provided, however, the Base Rent”) Rental for the Premises the sums shown for such periods calendar year in Item 5 of the Basic which this Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent is executed shall be payable in consecutive advance on or before the Commencement Date of the Lease Term. It is expressly provided, however, that so long as Tenant shall not be in default of its obligations under this Lease, such Base Rental and the taxes thereon shall, for the convenience of Tenant, be payable in equal monthly installments, installments in advance, without notice, demand, deduction on or offset, commencing on the Phase I Commencement Date and continuing on before the first day of each calendar month thereafter until the expiration of during the Lease Term. The Advance Base Rent Installment initial monthly installment shall be due and payable within thirty (30) days following on the Date date of this LeaseTenant's execution hereof. The obligation However, upon a default by Tenant of Tenant to pay Rent and other sums to Landlord and any of its obligations hereunder, the obligations Base Rental for the balance of Landlord under this the then current calendar year of the Lease are independent obligations. If Term, together with the Phase I Commencement Date or aggregate of the Phase II Commencement Date is a day other than Base Rental for the first day remainder of a calendar month, or the calender years of the Lease Term expires as provided herein below, shall be immediately due and payable. If this Lease commences on a day other than the last day the (b) No payment by Tenant or receipt or acceptance by Landlord of a calendar month, then lesser amount than the correct Base Rental or Additional Rent for such partial month shall be calculated deemed to be other than a payment on a per diem basis equal to 1/365 of the applicable annual Rent. In the event Landlord delivers possession of all account, nor shall any endorsement or statement on any check or any portion of letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of balance or pursue any other remedy provided in this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Datelease or at law. (c) At all times Tenant recognizes that Tenant shall pay Rent to a “lockbox” late payment of any rent or other depository whereby checks issued sum due hereunder from Tenant to Landlord will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefor agrees that if rent or any other payment due hereunder from Tenant to Landlord remains unpaid five (5) days after the same is due, the amount of Rent are initially cashed such unpaid rent or deposited other payment shall be increased by a Person late charge to be paid Landlord by Tenant in an amount equal to five percent (5%) per month of the amount of the delinquent rent or other than payment. The amount of the late charge to be paid to Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, by Tenant for any particular month shall be computed on the aggregate amount of delinquent rents and other payments, including all purposes under this Lease: (i) Landlord shall not be deemed accrued late charges, then outstanding. Failure to have accepted pay such payment until amount within ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord demand shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall an event of default. The terms of this paragraph do not have refunded (in any way effect or attempted to refund) such payment to Tenant. Nothing contained in the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required limit Landlord's remedies pursuant to Paragraph 17 of this Lease in the manner reasonably designated by Landlordevent said rent or other payment is unpaid after the date due. (d) [Intentionally deletedLandlord shall have the same right and remedies (including, without limitation, the right to commence a summary proceeding) for a default in the payment of Additional Rent as for a default in the payment of Base Rental notwithstanding the fact that Tenant may not then also be in default in the payment of Base Rental.] (e) The parties agree that for all purposes hereunder Tenant agrees to deposit with Landlord on the Premises date hereof the sum of TWENTY-FOUR THOUSAND TWO HUNDRED THIRTY-THREE AND NO/100 DOLLARS ($24,233.00), which sum shall be stipulated to contain held by Landlord, without obligation for interest, as security for the number performance of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions Tenant's covenants and Paragraph 2 of Exhibit F to obligations under this Lease. Landlord calculated the usable square footage , it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of the Premises described Landlord's damages in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment case of Tenant’s Proportionate Share 's default. Upon the occurrence of estimated Operating Expenses any Event of Default (as defined in Section 17 hereof) by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such funds to the extent necessary to made good any arrears of rent or other payments due Landlord hereunder, and the year-end adjustment of such payments are intended to pass on to Tenant and pay or reimburse Landlord for Tenant’s Proportionate Share any other damage, expense or liability caused by or required to cure, such Event of all costs Default; and expenses Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. After termination of this Lease any remaining balance of the nature described security deposit shall be returned by Landlord to Tenant provided all of Tenant's obligations under this Lease have been fulfilled. The security deposit shall be transferred to any successor in Paragraph 3 interest to Landlord hereunder and notice of this Leasesuch transfer given to Tenant within five (5) days after such transfer. Upon such transfer and notice, the transferror shall no longer be liable for the security but the transferee shall become liable.

Appears in 1 contract

Samples: Lease (Ecc International Corp)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month of the Lease Term as Base Rent to Landlord base rent ("Base Rent") for the Premises in advance, without demand, deduction or set off, at the sums shown for such periods in Item 5 following rates and amounts during the Term hereof -------------------------------------------------------------------------------- Month Monthly Annual Per Rentable ----- Base Rent Base Rent Square Foot --------- --------- Per Annum --------- -------------------------------------------------------------------------------- Commencement Date through first 12 $4,419.50 $53,034 $20.50 full calendar months -------------------------------------------------------------------------------- The first monthly installment of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent shall be due and payable in consecutive monthly installments, in advance, without notice, demand, deduction on or offset, commencing on before the Phase I Commencement Date and continuing thereafter in advance on or before the first day of each calendar month thereafter until succeeding the expiration of the Lease Term. The Advance Base Rent Installment shall be payable within thirty (30) days following the Date of this Lease. The obligation of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is a day other than the first day of a Date, except that all payments due hereunder for any fractional calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent for such partial month shall be calculated on a per diem basis prorated. The Base Rent shall be increased annually by an amount equal to 1/365 one and one-half percent (1.5%) of the applicable annual Rentrental in effect for the immediately preceding twelve month period. The monthly rental in any year shall be determined by multiplying the preceding year's Monthly Base Rental by 1.015. B. In addition, Tenant agrees to deposit with Landlord concurrently with the event execution hereof the sum of $-0- in cash ("Security Deposit ") The Security Deposit shall be held by Landlord delivers possession as security for the performance of all Tenant's obligations under this Lease, it being expressly understood and agreed that this Security Deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon each occurrence of an Event of Default (hereinafter defined), Landlord may use any portion of the Premises Cash Security Deposit to pay past due rent or other payments due Landlord under this Lease, and the cost of any other damage, injury, expense or liability caused by such Event of Default without prejudice to any other remedy provided herein or provided by law. Within 10 days after demand, Tenant shall pay Landlord, in cash, an amount necessary to restore the Security Deposit to the original amount of the Security Deposit. Any remaining balance of such Cash Security Deposit shall be returned by Landlord to Tenant prior to when Tenant's obligations under this Lease have been fulfilled at the Phase I expiration or the initial term. Provided no Event of Default has occurred as of the end of the 60th full month after the Commencement Date, Tenant agrees it the Security Deposit shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment of Base Rent, in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued in payment of Rent are initially cashed or deposited by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until ten (10) days after the date on which Landlord shall have actually received such funds, and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said ten (10) day period, Landlord shall not have refunded (or attempted to refund) such payment returned to Tenant. Nothing contained Tenant agrees that all interest paid from time to time in respect of the immediately preceding sentence Cash Security Deposit shall be construed paid to place Landlord, shall constitute Landlord's property and may be used in such manner as Landlord elects in its sole discretion (Tenant having no right, title or interest in default of Tenant’s obligation to pay Rent if such interest) and for so long as Tenant shall timely pay not constitute a part or the Rent required pursuant to this Lease in the manner reasonably designated by LandlordSecurity Deposit. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Bank of the Ozarks Inc)

BASE RENT AND SECURITY DEPOSIT. (a) A. Tenant agrees to pay during each month to Landlord as base rent the sum of the Lease Term as Base Rent * (“Base Rent”$ * ) for the Premises the sums shown for such periods in Item 5 of the Basic Lease Provisions. (b) Except as expressly provided to the contrary herein, Base Rent per year. Such rent shall be payable monthly in consecutive monthly installmentsamounts of * each, in advance, without notice, demand, deduction or offset, commencing offset (sometimes referred to in this Lease as the "Base Rent" or "Base Rental"). Such rental amounts shall be due and payable to Landlord in lawful money of the United States of America at the address shown below. An amount equal to one monthly Base Rental payment shall be due and payable on the Phase I Commencement Date date Tenant executes this Lease and continuing such amount shall be applied to the rent due on the first day of each calendar month thereafter until Commencement Date. On the expiration of the Lease Term. The Advance Base Rent Installment shall be payable within thirty (30) days following the Commencement Date of this Lease. The obligation of , there shall be due and payable by Tenant to pay Rent and other sums to Landlord and one monthly Base Rental payment, provided, that if the obligations of Landlord under this Lease are independent obligations. If the Phase I Commencement Date or the Phase II Commencement Date is should be a day date other than the first day of a calendar month, or the Lease Term expires on a day other than the last day of a calendar month, then the Rent rent for such partial month shall be calculated prorated. All succeeding installments of rent shall be payable on a per diem basis equal to 1/365 or before the first day of each succeeding calendar month during the Lease term. The amount of the applicable annual RentBase Rent shall be adjusted as provided in Article III. * Please refer to Section one of the attached rider #5 B. Deleted. C. In the event Landlord delivers possession of all or any portion of the Premises to Tenant prior to the Phase I Commencement Date, Tenant agrees it shall be bound by and subject to all terms, covenants, conditions and obligations of this Lease during the period between the date possession is delivered and the Phase I Commencement Date, other than the payment a monthly installment of Base RentRental is not received by Landlord within five (5) days after it is due and payable, or in the same manner as if delivery had occurred on the Phase I Commencement Date. (c) At all times that Tenant shall pay Rent to a “lockbox” or other depository whereby checks issued event any additional rent provided in payment of Rent are initially cashed or deposited Articles III and IV below is not received by a Person other than Landlord (albeit on Landlord’s authority) or funds are wired or otherwise transferred directly into an account of Landlord, then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until within ten (10) days after Landlord has rendered a statement to Tenant therefor, Tenant agrees to pay to Landlord a service charge equal to interest from the due date on which Landlord shall have actually received such funds, and the amount due until paid at an annual interest rate of the lesser of the highest rate allowed by law or eighteen percent (ii18%) Landlord per annum. Such service charge shall be deemed cumulative of any other remedies Landlord may have for nonpayment of Base Rental and other sums payable under this Lease. Landlord may accept partial payments without prejudice to have accepted such payment if any of Landlord's rights or remedies. D. If three (and only if3) within said consecutive monthly rental payments or any ten (10) monthly rental payments during the Lease term (or any renewal or extension thereof) are not received by Landlord on or before the tenth (10th) day periodof the month for which such rent was due, Landlord shall not have refunded (or attempted the option to refund) such payment to Tenant. Nothing contained in terminate the immediately preceding sentence shall be construed to place Tenant in default of Tenant’s obligation to pay Rent if and for so long as Tenant shall timely pay the Rent required pursuant to this Lease in the manner reasonably designated by Landlord. (d) [Intentionally deleted.] (e) The parties agree that for all purposes hereunder the Premises shall be stipulated to contain the number of square feet of Rentable Area described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease. Landlord calculated the usable square footage of the Premises described in Item 3 of the Basic Lease Provisions and Paragraph 2 of Exhibit F to this Lease using the “Standard Method for Measuring Floor Area in Office Buildings,” approved as of June 7, 1996 by the American National Standards Institute, Inc. (ANSI/IBOMA Z65.1-1996; the “BOMA Standard”). (f) The provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Proportionate Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for Tenant’s Proportionate Share of all costs and expenses of the nature described in Paragraph 3 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Bell Microproducts Inc)

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