Basic Rent Additional Rent. Effective with the Commencement Date, and for the term of this Lease as defined by (S)4 above (except as provided for in the second paragraph of this clause), the Tenant shall pay to the Landlord as Basic Rent, the sum of One Hundred Eighty Three Thousand Two Hundred Sixty and 00/100 ($183,260.00) Dollars per year in monthly installments of Fifteen Thousand Two Hundred Seventy One and 67/100 ($15,271.67) Dollars, the same calculated at the rate of $10.00 per square foot for 18,326 rentable square feet of area at the Building more particularly described on Exhibit A. As more specifically set forth hereafter, each yearly amount of Basic Rent is to be Triple Net. Basic Rent shall be payable without counterclaim, deduction, defense setoff or abatement, except as otherwise expressly provided herein, in advance on the first day of each month in equal installments (except in the case of a partial month at the beginning of the Term, in which event the Tenant shall pay the appropriate pro rata proportion of such installment) to the Landlord at the address set forth above or to such other party or such other address as the Landlord may thereafter from time to time specify by notice to the Tenant. If the name or address of the party entitled to receive Basic Rent and Additional Rent shall be changed, the Tenant may, until ten (10) days after receipt of such notice or such change, continue to pay Basic Rent and Additional Rent to the party and the address to which, and in the manner in which, the preceding installment of Basic Rent was paid. To the end this Lease is Triple Net, Basic Rent shall be received by the Landlord net of all costs and expenses related to the Premises other than as expressly set forth herein. The Tenant agrees to pay as "Additional Rent" for that area leased to it and exclusively dedicated to its use, (i) its proportionate share of real estate taxes issued from the Town of Tewksbury (calculated at
Basic Rent Additional Rent. 10 4.1 PAYMENT...................................................10
Basic Rent Additional Rent. Section 3.1 The Tenant shall pay to the LAADLORD an Annual Basic Rent to THE XXXXXX INVESTMENT COMPANY at CS #990, Hempstead, New York 11550 in equal monthly installments as per the following schedule: Term Annual Rent Monthly Rent ---- ----------- ------------ 1/15/94-3/31/94 $115,587.50 $ 9,632.29 (2 1/2 Months) 4/1/94-3/31/95 $561,425.00 $46,785.42 4/1/95-3/31/96 $581,240.00 $48,436.67 4/1/96-3/31/97 $601,715.50 $50,142.96 4/1/97-3/31/98 $622,851.50 $51,904.29 4/1/98-3/31/99 $644,648.00 $53,720.67 4/1/99-3/31/2000 $667,105.00 $55,992.08 4/1/2000-3/31/01 $690,552.75 $57,546.06 4/1/01-3/31/02 $714,661.00 $59,555.08 4/1/02-3/31/03 $739,760.00 $61,646.67 4/1/03-3/31/04 $765,519.50 $63,793.29 in advance of or on the first day of each month without notice and demand and without abatement, deduction or set-off of any amount whatsoever. The fractional rent, if any, from the rent commencement date (as above provided) to the date of the first day of the following month shall be paid by the TENANT to the LANDLORD within five (5) days after the rent commencement date. The LANDLORD acknowledges receipt of $154,970.55 representing the rent and electrical charges (as indicated in Section 4.3 of this lease) for the approximately first five months for which rent is due hereunder.
Section 3.2 As additional rent during each and every year during the term hereof and any renewals the TENANT shall pay to the LANDLORD its proportionate share of any increase in real estate taxes over the 1993/94 School Tax and the 1994 Town Tax.
A. TENANT'S proportionate share of any increase shall be determined by multiplying any such increase by a fraction, the numerator of which shall be the total gross rentable area of the Demised premises (i.e., 33,025 square feet) and the denominator of which shall be the total gross rentable area of the building of which the Demised premises form a part (i.e., 230,000 square feet), i.e., 14.36%.
B. TENANT shall similarly pay its proportionate share as determined in sub-paragraph "A" above of any ad valorem assessments, or impositions against the real property of which the Demised premises form a part and its proportionate share of any taxes which shall be imposed in lieu of any ad valorem real property tax as the same is presently considered, except that TENANT shall not be obligated to pay any portion of any assessment or impositions (whether payable in installments or otherwise) which have become a lien prior to the commencement of the term of this le...
Basic Rent Additional Rent. Section 3.1 Commencing two (2) months after the Lease Commencement Date, the TENANT shall pay to the LANDLORD an Annual Basic Rent to INDUSTRIAL & RESEARCH ASSOCIATES CO. at X.X. Xxx 0000, Xxxxxxxxxx, Xxx Xxxx 00000-0000, in equal monthly installments in advance of or on the first day of each month without notice and demand and without abatement, deduction or set-off of any amount whatsoever based upon the following schedule: TERM ANNUAL RENT MONTHLY RENT ---- ----------- ------------ Lease Year 1 $209,496.00 $17,458.00 Lease Year 2 $217,875.84 $18,156.32 Lease Year 3 $226,548.00 $18,879.00 Lease Year 4 $235,609.92 $19,634.16 Lease Year 5 $245,061.60 $20,421.80 Lease Year 6 $254,903.04 $21,241.92 Lease Year 7 $265,134.24 $22,094.52 Lease Year 8 $275,755.20 $22,979.60 Lease Year 9 $286,765.92 $23,897.16 Lease Year 10 $298,263.84 $24,855.32 The fractional rent, if any, from the rent commencement date (as above provided) to the date of the first day of the following month shall be paid by the TENANT to the LANDLORD within five (5) days after the rent commencement date. The LANDLORD acknowledges receipt of $17,458.00 representing the rent for the first full month for which rent is due hereunder.
Section 3.2 As additional rent during each and every year during the term hereof and any renewals the TENANT shall pay to the LANDLORD its proportionate share of any increase in real estate taxes over the 2000/2001 School Tax and the 2000 Town Tax, provided that any such tax increase shall not be caused by another Tenant of the building.
A. TENANT'S proportionate share of any such increase shall be determined by multiplying any such increase by a fraction, the numerator of which shall be the total gross rentable area of the Demised Premises (i.e., 9,744 square feet) and the denominator of which shall be the total gross rentable area of the building of which the Demised Premises form a part (i.e., 26,663 square feet), i.e., 36.55%.
B. TENANT shall similarly pay its proportionate share as determined in sub-paragraph "A" above of any ad valorem assessments, or impositions against the real property of which the Demised Premises form a part and its proportionate share of any taxes which shall be imposed in lieu of any ad valorem real property tax as the same is presently considered, except that TENANT shall not be obligated to pay any portion of any assessment or impositions (whether payable in installments or otherwise) which have become a lien prior to the commencement of...
Basic Rent Additional Rent. Effective with the Commencement Date, and for the first five (5) years of the term of this Lease as defined by (S)4 above (except as provided for in the fourth paragraph of this section), the Tenant shall pay to the Landlord as Basic Rent, the sum of Nine Hundred Seventy Three Thousand Thirty Two and 00/100 ($973,032.00) Dollars per year in monthly installments of Eighty One Thousand Eighty Six and 00/100 ($81,086.00) Dollars, the same calculated at the rate of Twelve and 00/100 ($12.00) Dollars per square foot for 81,086 rentable square feet of area at the Building. For years six (6) and seven (7) of the term of this Lease as defined by (S)4 above (except as provided for in the fourth paragraph of this section), the Tenant shall pay to the Landlord as Basic Rent, the sum of One Million Fifty Fourth Thousand One Hundred Eighteen and 00/100 ($1,054,118.00) Dollars per year in monthly installments of Eighty Seven Thousand Eight Hundred Forty Three and 17/100 ($87,843.17) Dollars, the same calculated at the rate of Thirteen and 00/100 ($13.00) Dollars per square foot for 81,086 rentable square feet of area at the Building.
Basic Rent Additional Rent. Tenant’s obligation to pay Basic Rent shall commence on the date which is the later to occur of (i) May 1, 2005 or (ii) the date which is 30 days after Landlord Substantially Completes (as defined in Exhibit B) the Tenant Improvement Work (the “Rent Commencement Date”). Tenant shall pay Additional Rent (as defined below) commencing on the Term Commencement Date. The Tenant shall pay Basic Rent to the Landlord at an annual rate of: Rent Commencement through Lease Year 4 $ 13.48 $ 864,849.84 $ 72,070.82 Lease Years 5 – 7 $ 14.23 $ 912,968.34 $ 76,080.70 In the event the Term is automatically extended for another three Lease Years, the Basic Rent shall be payable as set forth below: Lease Years 4 – 7 $ 13.48 $ 864,849.84 $ 72,070.82 Lease Years 8 – 10 $ 8.25 $ 529,303.50 $ 44,108.63 In the event Tenant utilizes less than all of Tenant’s Allowance (as defined in Exhibit B), then the Basic Rent shall be decreased in accordance with the provisions of Exhibit B. Basic Rent shall be payable in advance on the first day of each month in equal installments to the Landlord at the address set forth above or such other address as the Landlord may thereafter specify by notice to the Tenant, without counterclaim, deduction or defense and, except as otherwise expressly provided herein, without set-off or abatement. This Lease is intended by the parties hereto to be a so-called triple “net” or pass-through lease and, to the end that the Basic Rent shall be received by the Landlord net of all costs and expenses related to the Property, the Building and the Premises, except as expressly set forth herein, the Tenant agrees to pay, in addition to the Tenant’s obligations with respect to real estate taxes, insurance premiums, management fees to the extent that such fees do not exceed the costs of such fees rendered by qualified unaffiliated third parties on a competitive basis, utilities costs, costs of repairs and maintenance and other
Basic Rent Additional Rent. Section 2.1 Commencing on the Rent Commencement Date, and throughout the Term, Tenant will pay annual basic rent (the "Basic Rent"), in the amounts determined in accordance with Schedule 1 attached hereto, in equal monthly installments in advance of the first (1st) day of each month during the Term, without notice or demand and without any rights of reduction, counterclaim or offset except as specifically set forth 4 4 in Articles 12 and 13. If the Rent Commencement Date falls on a day other than the first day of a calendar month, the first payment which Tenant shall make on the Rent Commencement Date shall be equal to the proportionate part of the Basic Rent for the partial month from the Rent Commencement Date to the first day of the succeeding calendar month. Basic Rent will be paid to Landlord, at the address of Landlord as above set forth or at such other address as Landlord may designate in writing from time to time. If the Term terminates on a day other than the last day of the month, then the installment of Basic Rent for the last month of the Term will be adjusted accordingly.
Basic Rent Additional Rent. Section 3.1 Commending two (2) months after the rent commencement date, the TENANT shall pay to the LANDLORD an Annual Basic Rent to INDUSTRIAL & RESEARCH ASSOCIATES CO. at P.O. Box 9020, Hicksvixxx, Xxx Xxxx 00000-0000 xx xxxxx xxxxxxx xxxtallments in advance of or on the first day of each month without notice and demand and without abatement, deduction or set-off of any amount whatsoever as per the following schedule: TERM BASIC ANNUAL RENT MONTHLY RENT 06/01/96-05/31/97 $443,840.00 $36,986.67 06/01/97-05/31/98 $463,969.00 $38,641.33 5 06/01/98-05/31/99 $483,552.00 $40,296.00 06/01/99-05/31/2000 $503,408.00 $41,950.67 06/01/00-05/31/01 $523,264.00 $43,605.33 06/01/01-05/31/02 $543,120.00 $45,260.00 06/01/02-05/31/03 $562,976.00 $46,914.67 06/01/03-05/31/04 $582,832.00 $48,469.33 06/01/04-05/31/05 $602,688.00 $50,224.00 06/01/05-05/31/06 $622,544.00 $51,878.67 The fractional rent, if any, from the rent commencement date (as above provided) to the date of the first day of the following month shall be paid by the TENANT to the LANDLORD within five (5) days after the rent commencement date. The LANDLORD acknowledges receipt of $147,946.68 representing the rent for the first four (4) full months for which rent is due hereunder.
Section 3.2 In the event that LANDLORD or any major tenant of the building should contest any taxes or assessments levied against the building, the TENANT agrees to cooperate but is not obligated to contribute to any expenses incurred by the LANDLORD in any such proceeding or action.
Section 3.3 Rent and Additional Rent shall be payable in lawful money of the United States to the LANDLORD at P.O. Box 9020, Hicksvixxx, Xxx Xxxx 00000-0000, xx xx xxxx xxxxx xxxce as the LANDLORD may from time to time designate, in advance, without notice, demand, offset or deduction except as specifically set forth herein. In the event any payment of Basic Rent or Additional Rent shall not be made to LANDLORD within ten days of the due date hereof there shall be added to the amount a sum equal to five percent of the unpaid items to help to defray LANDLORD'S additional costs for additional bookkeeping and other costs in connection therewith. Notwithstanding the above, TENANT shall be permitted one late payment per year without any penalties accruing until LANDLORD gives notice to the TENANT and TENANT'S time to cure said default has expires.
Basic Rent Additional Rent. 13 ARTICLE 4
Basic Rent Additional Rent. Section 3.1 Commencing upon occupancy of the demised premises, the TENANT shall pay to the LANDLORD an Annual Basic Rent of Eighty Nine Thousand Five Hundred Fifty Five Dollars and Thirty Two Cents ($89,555.32) at the address or the LANDLORD in equal monthly installments of Seven Thousand Four Hundred Sixty Two Dollars and Ninety Four Cents ($7,462.94) in advance of or on the first day of each month without notice and demand and without abatement, deduction or set-off of any amount whatsoever. The tractional rent, it any, from the rent commencement date (as above provided) to the date of the first day of the following month shall be paid by the TENANT to the LANDLORD within five (5) days after the rent commencement date. The LANDLORD acknowledges receipt of Seven Thousand Nine Hundred Twelve Dollars and Seventy Four Cents ($7,912.74), representing the rent for the first full month for which rent is due hereunder.
Section 3.2 In addition to the Basic Annual Rent, TENANT shall pay to LANDLORD amounts for increases in Taxes, and other charges as hereinafter defined and explained ("Additional Rent"). All amounts of Additional Rent shall be payable as provided in this lease to LANDLORD at LANDLORD's office or such other place or agent as LANDLORD may designate by notice to TENANT. LANDLORD shall have the same remedies for nonpayment of Additional Rent as a default in Basic Annual Rent.
