Common use of Base Rental Clause in Contracts

Base Rental. (a) Tenant covenants and agrees to pay to Landlord during the Lease Term the amounts specified in Article 1(k) (as adjusted from time to time, the "Base Rental") as base rent for the Premises. The Base Rental shall be paid in equal monthly installments in advance, without demand, deduction or set off, on the first (1st) day of each and every calendar month during the Lease Term. A prorated monthly installment shall be paid in advance on the Rental Commencement Date for any fraction of a month if the Rental Commencement Date occurs on any day other than the first day of any month and on the first day of the final month of the Lease Term for any fraction of a month if the Lease Term shall expire or terminate on any day other than the last day of any month. (b) The Base Rental for the first year of the Lease Term is set forth in Article 1(k) above. On each anniversary of the Commencement Date, the Base Rental shall be increased to an amount equal to the product of: (i) the amount of Base Rental for the previous calendar year (or portion thereof adjusted to reflect an annual rental) multiplied by (ii) the Increase Multiplier. (c) Tenant covenants and agrees to pay to Landlord during the Lease Term such sums as are referred to herein as "Additional Rental" when due, without demand, deduction or set off. As used herein, the term "Rent" shall mean Base Rental, Additional Rental, and any other amounts due from Tenant hereunder. Any sums payable to Landlord by Tenant hereunder shall be deemed Additional Rental, and Landlord shall have all of the remedies upon default as it does for failure to pay Base Rental.

Base Rental. (a) Tenant covenants and agrees to pay to Landlord during the Lease Term Term, to Landlord, without any setoff or deduction whatsoever, except as set forth herein, the amounts specified Base Rental, and all such other sums of money as shall become due hereunder as additional rent, all of which are sometimes herein collectively called “rent” for the nonpayment of which Landlord shall be entitled to exercise all such rights and remedies as are herein provided in Article 1(kthe case of the nonpayment of Base Rental. The annual Base Rental for each calendar year or portion thereof during the Lease Term, together with any estimated adjustments thereto pursuant to Paragraphs 6, 20, and 21 hereof, shall be due and payable in advance in twelve (12) equal installments on the first day of each calendar month during the initial term of this Lease and any extensions or renewals thereof, and Tenant hereby agrees to pay such Base Rental and any adjustments thereto to Landlord at Landlord’s address provided herein (or such other address as adjusted may be designated by Landlord in writing from time to time) monthly, the "Base Rental") as base rent for the Premises. The Base Rental shall be paid in equal monthly installments in advance, and without demand, deduction or set off, . If the term of this Lease commences on the first (1st) day of each and every calendar month during the Lease Term. A prorated monthly installment shall be paid in advance on the Rental Commencement Date for any fraction of a month if the Rental Commencement Date occurs on any day other than the first day of any month and on the first day of the final month of the Lease Term for any fraction of a month if the Lease Term shall expire or terminate terminates on any a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such month or months shall be prorated, based on the number of days in such month. (b) The In the event any installment of rent is not paid when due and payable, Tenant shall pay a late charge of $100.00 per day for each day of delinquency. (c) That for a period of three (3) months Tenant herein shall receive a rent moratorium, that is a delay in the payment of Base Rental obligation for the first year period of time commencing with the Commencement Date and ending on the last day of the Lease Term third full month of this Lease. Thereafter, and provided that Tenant fully and completely complies with all terms and conditions of this Lease, and is set forth not in Article 1(k) above. On each anniversary default of any of the Commencement Dateterms and conditions of this Lease (or if the Tenant’s defaults but subsequently cures the same to the Landlord’s satisfaction), the Base Rental said moratorium shall be increased deemed complete and vested as of the date of expiration of lease and the Tenant shall have no further obligation to an amount equal to the product of: (i) the amount make payment of Base Rental for the previous calendar year (period set out in this sub-paragraph. However, if Tenant for whatever reason breaches or portion thereof adjusted is in default of any term or condition of this Lease and fails to reflect an annual rentalcure the same to the satisfaction of the Landlord herein within the cure periods provided for in Section 27(a) multiplied by (ii) of this Lease, the Increase Multiplier. (c) rent moratorium for the period aforementioned shall immediately be deemed to have ceased and expired without notice to the Tenant covenants and agrees to pay to Landlord Tenant shall immediately be liable for the entire amount of the rent during the Lease Term such sums as are referred moratorium period aforementioned, plus any and all other remedies available to herein as "Additional Rental" when due, without demand, deduction the Landlord at law or set off. As used herein, the term "Rent" shall mean Base Rental, Additional Rental, and any other amounts due from Tenant hereunder. Any sums payable to Landlord by Tenant hereunder shall be deemed Additional Rental, and Landlord shall have all of the remedies upon default as it does for failure to pay Base Rentalin equity.

Base Rental. (a) Tenant covenants and agrees to pay to Landlord during the Lease Term Term, to Landlord, without any setoff or deduction whatsoever, the amounts specified Base Rental, and all such other sums of money as shall become due hereunder as additional rent, all of which are sometimes herein collectively called "rent." In the event of nonpayment of any such rent, Landlord shall be entitled to exercise all such rights and remedies as are herein provided in Article 1(kthe case of the nonpayment of Base Rental. Except as otherwise provided herein, the annual Base Rental for each calendar year or portion thereof during the Lease Term, together with any estimated adjustment thereto pursuant to Exhibit "C" hereof then in effect, shall be due and payable in advance in twelve (12) equal installments on the first day of each calendar month during the initial term of this Lease and any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rental and any adjustments thereto to Landlord at address provided herein (or such other address as adjusted may be designated by Landlord in writing from time to time) monthly, the "Base Rental") as base rent for the Premises. The Base Rental shall be paid in equal monthly installments in advance, and without demand, deduction or set off, . If the term of this Lease commences on the first (1st) day of each and every calendar month during the Lease Term. A prorated monthly installment shall be paid in advance on the Rental Commencement Date for any fraction of a month if the Rental Commencement Date occurs on any day other than the first day of any month and on the first day of the final month of the Lease Term for any fraction of a month if the Lease Term shall expire or terminate terminates on any a day other than the last day of a month, then the installments of Base Rental and any adjustment thereto for such month or months shall be prorated, based on the number of days in such month. (b) . The Base Rental for the first year partial month, if any, shall be payable at the beginning of said period. All such payments shall be by a good and sufficient check (subject to collection) drawn on a bank acceptable to Landlord. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of rent due under this Lease shall be deemed to be other than a payment on account of the earliest rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and EXHIBIT 10.7 satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance or pursue any other remedy provided by this Lease Term is set forth or applicable law. The acceptance by Landlord of an installment of rent on a date after the due date of such payment shall not be construed to be a waiver of Landlord's right to declare a default for any other late payment. If Tenant fails to timely pay any two (2) installments of rent in Article 1(kany consecutive twelve month period, Landlord may require Tenant to pay rent (as estimated by Landlord, if necessary) abovequarterly in advance, and, in such event, all future payments shall be made on or before the due date in cash or by cashier's check or money order, and the delivery of Tenant's collectible personal or corporate check shall no longer constitute payment thereof. On each anniversary Any acceptance of Tenant's collectible personal or corporate check thereafter by Landlord shall not be construed as a waiver of the Commencement Date, the Base Rental requirement that such payments be made in cash or by cashier's check or money order. All amounts received by Landlord from Tenant hereunder shall be increased applied first to an amount the earliest accrued and unpaid rent then outstanding. (b) All installments of rent not paid when due and payable shall bear interest until paid at a per annum rate equal to the product of: lesser of (i) the amount of Base Rental for the previous calendar year Prime Rate plus five percent (5%) or portion thereof adjusted to reflect an annual rental) multiplied by (ii) the Increase MultiplierMaximum Rate. (c) Tenant covenants and agrees to pay to Landlord during the Lease Term such sums as are referred to herein as "Additional Rental" when due, without demand, deduction or set off. As used herein, the term "Rent" shall mean The Base Rental, Additional Rental, and any other amounts due from Tenant hereunder. Any sums Rental payable to Landlord by Tenant hereunder shall be deemed Additional Rental, adjusted upward from time to time in accordance with the provisions of EXHIBIT "C" attached hereto and Landlord shall have incorporated herein for all of the remedies upon default as it does for failure to pay Base Rentalpurposes.

Base Rental. (a) Tenant covenants and hereby agrees to pay to Landlord, ----------- without any set off or deduction whatsoever, the Base Rental. Tenant shall also pay, as additional rent, all other sums of money that become due and payable by Tenant to Landlord during under this Lease (Base Rental, any adjustment thereto pursuant to Paragraph 6 hereof, any basic parking charge or adjustment thereto, and all other sums of money due and payable by Tenant to Landlord under this Lease are sometimes hereinafter collectively called "rent"). Tenant shall also pay with each Base Rental payment the Lease Term amount of any transaction privilege, sales, or similar taxes incurred by Landlord on the amounts specified in Article 1(k) (rent transactions. The annual Base Rental, as adjusted from time to timetime pursuant to Paragraph 6 hereof, the "Base Rental") as base rent for the Premises. The Base Rental shall be paid due and payable in advance in twelve (12) equal monthly installments in advance, without demand, deduction or set off, on the first (1st) day of each and every calendar month during the term of this Lease Termand any extensions or renewals thereof, and Tenant hereby agrees to pay Base Rental as so adjusted to Landlord at Landlord's address provided herein (or such other address as may be designated by Landlord in writing from time to time) monthly, in advance, and without demand. A If the term of this Lease commences on a day other than the first (1st) day of a month, then the first installment of Base Rental as adjusted pursuant hereto shall be prorated, based on thirty (30) days per month, and such installment so prorated monthly installment shall be paid in advance on the Rental Commencement Date Date. (b) Upon the execution of this Lease, Tenant agrees to pay to Landlord the Security Deposit, to be held by Landlord as security for the performance by Tenant of Tenant's covenants and obligations under this Lease, it being expressly understood that the Security Deposit shall not be considered an advance payment of rental or measure of Landlord's damages in case of default by Tenant. Upon default by Tenant, Landlord, from time to time, without prejudice to any fraction other remedy, may (but shall not be required to) apply the Security Deposit against any arrearages of a month if Base Rental, or other rent, or any other damage, injury, expense or liability caused to Landlord by such default on the Rental Commencement Date occurs on part of Tenant. Should all or any day other than portion of the first day of any month and Security Deposit be used for the purposes described above during the Lease Term, then Tenant shall remit to Landlord on the first day of the final month following notice of such use the amount necessary to restore Security Deposit to its original balance. Tenant's failure to restore the Security Deposit upon notice from Landlord shall be a material breach of this Lease. No interest shall be payable on the Security Deposit and Landlord shall have no obligation to keep the security deposit separate from its general funds unless otherwise required by applicable law. See Section 5 of the Lease Term for any fraction of a month if the Lease Term shall expire or terminate on any day other than the last day of any month. (b) The Base Rental for the first year of the Lease Term is set forth in Article 1(k) above. On each anniversary of the Commencement Date, the Base Rental shall be increased to an amount equal to the product of: (i) the amount of Base Rental for the previous calendar year (or portion thereof adjusted to reflect an annual rental) multiplied by (ii) the Increase MultiplierAddendum. (c) If Tenant covenants and agrees fails to pay any regular monthly installment of rent by the tenth (10th) day of the month in which the installment is due, or any other amount constituting rent within ten (10) days after accrual thereof or billing therefor, there shall be added to such unpaid amount a late charge of five percent (5%) of the installment or amount due in order to compensate Landlord for the extra administrative expenses incurred. See Section 6 of the Addendum. (d) Notwithstanding anything to the contrary contained herein, Landlord hereby grants Tenant a rental abatement in the amount of $15,000.00 to be applied to Base Rental in the second month of the Lease Term. Except for the rental abatement specified above, Tenant shall be obligated to make all other payments which Tenant is obligated to make pursuant to the terms of this Lease. Tenant agrees that if, at any time during the term of this Lease, there is a default or event of default under this Lease Term such sums as are referred to herein as "Additional Rental" when due, without demand, deduction or set off. As used hereinby Tenant, the term "Rent" value of the rental abatement shall mean Base Rentalbe deemed an additional obligation payable by Tenant. Upon the occurrence of a default or an event of default by Tenant under the terms of the Lease, Additional Rental, Tenant shall be required to pay the value of the rental abatement upon demand of Landlord and any other amounts due from Tenant hereunderowed under the terms of this Lease. Any sums payable to Landlord by Tenant hereunder shall be deemed Additional Rental, and Landlord shall have all See Section 7 of the remedies upon default as it does for failure to pay Base RentalAddendum.