Common use of Basic Rental Clause in Contracts

Basic Rental. Tenant agrees to pay to Landlord during the Term hereof, at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the monthly and annual sums as set forth in Article 1.C. of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

Appears in 3 contracts

Samples: Standard Office Lease (Neurmedix, Inc.), Standard Office Lease (Neurmedix, Inc.), Standard Office Lease (Neurmedix, Inc.)

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Basic Rental. (i) Tenant agrees to pay to Landlord during the Term hereof, at Landlord's ’s office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the monthly and annual sums Monthly Basic Rental (as set forth in Article 1.C. l.C. of the Basic Lease Provisions), payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event if this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent Monthly Basic Rental for such month shall be prorated. Notwithstanding anything the foregoing, the Security Deposit shall be pa id to Landlord upon the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions execution of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Monthly Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date. Any and all amounts due and payable by Tenant pursuant to this Lease (other than the Monthly Basic Rental and the Security Deposit) shall be deemed “Additional Rent” and Landlord shall be entitled to exercise the same rights and remedies upon default in payment of the Additional Rent as Landlord is entitled to exercise with respect to defaults in Monthly Basic Rental payments. Basic Rental and Additional Rental are collectively referred to as “Rental.” (ii) Subject to the terms and conditions of this subsect ion ( ii), provided that Tenant is not then in default under this Lease beyond any applicable notice and cure periods, Tenant shall be credited with the payment (meaning for clarity that zero is due from the Tenant) of Monthly Basic Rental payable with respect to the Premises for the twenty-fifth through the twenty-six months, inclusive, of the Lease Term only and for the thirty-seventy month, inclusive, of the Lease Term only (collectively, the “Basic Rental Credit”), as and when the Monthly Basic Rental for such months would be due and payable. Basic Rental Credit shall reduce the Monthly Basic Rental but will not reduce any amount of Direct Costs (hereinafter defined) or Additional Rent, during each month in which the Basic Rental Credit is otherwise applicable. Tenant understands and agrees that the foregoing Basic Rental Credit is conditioned upon Tenant’s not being in default under this Lease beyond any applicable notice and cure periods. Accordingly, upon the occurrence of any default under this Lease beyond applicable notice and cure periods at any time prior to the end of the fifth (5th) month of the Lease Term, Tenant shall no longer be entitled to the Basic Rental Credit set forth above and Tenant shall pay Basic Rental for the balance of the period that the Basic Rental Credit otherwise would have applied as and when the same would have become due and payable in the absence of such Basic Rental Credit. Furthermore, if the Lease is terminated due to a default by Tenant, the entire Basic Rental Credit shall be null and void and all Basic Rental not paid on account of the Basic Rental Credit (including any previously granted Basic Rental Credit) shall be immediately due and payable from Tenant to Landlord.

Appears in 2 contracts

Samples: Standard Office Lease (Castle Biosciences Inc), Standard Office Lease (Castle Biosciences Inc)

Basic Rental. Tenant (a) Client promises and agrees to pay Landlord the Basic Rental (subject to Landlord adjustment as hereinafter provided) without demand, notice, deduction, counterclaim, abatement or set-off, for each month of the entire Lease Term. The first monthly installment shall be due and payable upon execution of this Lease. The Basic Rental for each subsequent month shall be paid in advance beginning on the first day of the calendar month following the expiration of the first calendar month of the Lease Term and continuing thereafter on or before the first day of each succeeding calendar month during the Term term hereof; provided, however, that Basic Rental for the second calendar month shall be prorated based on one-three hundred sixtieth (1/360th) of the current annual Basic Rental for each day of the first partial month, if any, this Lease is in effect and shall be due and payable as aforesaid. Notwithstanding anything to the contrary contained herein, if Client fails to timely pay any two (2) installments of rent within a six-month period, Landlord at its sole option may 1) require Client to make all future payments on or before the due date in cash or by cashier’s check or money order, and the delivery of Client’s personal or corporate check shall no longer constitute payment thereof, or 2) Landlord may require that Client deposit an additional Security Deposit equal to 3 months rent, from which Landlord, at Landlord's office his or her sole discretion, may satisfy any future payments to be made by Client, and Client shall be required to maintain such other person or at additional Security Deposit levels throughout the remaining Lease Term as described in Section 5 herein, in which event Client shall have 5 days to deposit such other place additional Security Deposit as directed from time to time by written notice to Tenant from Landlord, required above. (b) In the monthly and annual sums as set forth in Article 1.C. event that any installment of the Basic Lease ProvisionsRental, payable in advance or any other sums which become owing by Client to Landlord under the provisions hereof are not received on or before the first (1st) day of each calendar monththe month in which such installment is due, without demandor any other sum hereunder within ten (10) days after accrual or billing therefor, setoff there shall be added to such unpaid amount a late charge of the greater of $250.00 or deduction, and eight percent (8%) of the installment or amount due in order to compensate Landlord for the event this Lease commences or extra administrative expense thereby incurred. After twenty (20) days have elapsed from the date of expiration of this Lease occurs other than on the first (1st) day accrual or last day of a calendar monthbilling, the rent for such month total amount due shall bear interest at 18% per annum or the maximum rate allowable by law. (c) All payments due hereunder, including payment of the security deposit, shall be prorated. Notwithstanding anything made payable to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount“MPLX-Landover Co LLC." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

Appears in 2 contracts

Samples: Lease Agreement (2U, Inc.), Lease Agreement (2U, Inc.)

Basic Rental. Tenant agrees to pay to Landlord during the Term hereof, at Landlord's ’s office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the monthly and annual sums as set forth in Article 1.C. of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deductiondeduction (except as may be expressly provided for in this Lease), and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's ’s obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) following full calendar months of the initial Lease Term: the seventh (7th, eighth (8th), ninth (9th), twentieth (20th), twenty-first (21st), thirty-second (32nd), thirty-third (33rd), forty-fourth (44th), forty-fifth (45th), fifty-sixth (56th) and fifty-seventh (57th) full calendar months. The Basic Rental so abated may be referred to herein as the “Rent Abatement”. In addition, Tenant may be entitled to credit(s) against Tenant’s obligations to pay monthly Basic Rental as provided in Sections 2.3 and 2.4 of the Tenant Work Letter. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article Section 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a)Article 3. The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental for the twenty-second (22nd), twenty-third (23rd), twenty-fourth (24th) and twenty-fifth (25th) full calendar months of the Term shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

Appears in 2 contracts

Samples: Standard Office Lease (loanDepot, Inc.), Standard Office Lease (loanDepot, Inc.)

Basic Rental. Tenant agrees to pay to Landlord The Basic Rental applicable during the Extended Term hereofshall be determined as follows: (a) By January 1, at Landlord's office or to such other person or at such other place as directed from time to time by written notice 2021, Landlord shall submit to Tenant from Landlord, the monthly and annual sums as set forth in Article 1.C. ’s determination of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible Premises for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this LeaseExtended Term, then as a part of the recovery set forth in Article 20 of this Lease, Landlord which determination shall be entitled to the recovery of fair market rent for the monthly Basic Premises (the “Extended Term Rental that was abated under the provisions of this Section 3(aRate”). The amount Extended Term Rental Rate shall in no event be lower than [***] per rentable square foot or Doc#: US1:15703927v2 higher than [***] per rentable square foot for the first Lease year of the Extended Term. If Tenant notifies Landlord of its acceptance of Landlord’s determination of the Extended Term Rental Rate within ten days after receipt of the Extended Term Rental Rate (the “First 10 Day Period”), then Landlord’s Extended Term Rental Rate shall be the Basic Rental rate for the Extended Term, subject to annual increases of [***] per rentable square foot on October 1 of each subsequent year of the Extended Term. If Tenant does not notify Landlord of its acceptance of Landlord’s determination of the Extended Term Rental Rate during the First 10 Day Period, then the parties shall proceed as provided in Section 2(b) below. (b) Within five (5) days after the First 10 Day Period (the “Initial 5 Day Period”), Landlord and Tenant shall each simultaneously submit to the other in a sealed envelope its suggested Extended Term Rental Rate, provided such proposed rates shall in no event be abated lower than [***] per rentable square foot or higher than [***] per rentable square foot for the first Lease year of the Extended Term (for purposes of clarity, Landlord’s rent determination need not be the same rent as provided pursuant to this Section 3(a2(a) above may be referred herein as "Abated Rent Amount." Notwithstanding above). If either party does not submit its suggested Extended Term Rental Rate during the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord Initial 5 Day Period in accordance with Article 1.J. the previous sentence, the other party’s determination of Extended Term Rental Rate shall be final and binding. If the higher of such suggested Extended Term Rental Rate is not more than one hundred five percent of the Basic Lease Provisions andlower of such suggested rentals, if then the Commencement Date is not average of the two suggested Extended Term Rental Rates shall be the Extended Term Rental Rate during the Extended Term. Otherwise, Landlord and Tenant shall negotiate in good faith to agree upon the Extended Term Rental Rate (which shall in no event be lower than [***] per rentable square foot or higher than [***] per rentable square foot for the first day of a month, Basic Rental for the partial month commencing as Lease year of the Commencement Date Extended Term), and if Landlord and Tenant are unable to agree to the Extended Term Rental Rate within five days after the expiration of the Initial 5 Day Period (the “Second 5 Day Period”), the determination of the Extended Term Rental Rate shall be prorated based upon made in accordance with paragraph (c) and (d) below. Any Extended Term Rental Rate determined in accordance with this paragraph (b) shall increase by [***] per rentable square foot on October 1 of each subsequent year of the actual number Extended Term. (c) Within five days after the expiration of days the Second 5 Day Period (the “Third 5 Day Period”), Landlord and Tenant shall mutually select an MAI appraiser with experience in such month and real estate activities, including at least five (5) years’ experience in appraising office space in the central business district of Detroit, which appraiser shall be due and payable upon the Commencement Date.hereinafter referred to as a “

Appears in 1 contract

Samples: Amended and Restated Lease (Rocket Companies, Inc.)

Basic Rental. Tenant agrees to pay to Landlord during the Term hereof, at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the initial monthly and annual sums as set forth in Article 1.C. 1.C of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx abate Tenant's obligation to pay monthly Monthly Basic Rental for the second five (2nd5) and third (3rd) full calendar months moxxxx of the initial Lease Term. The five (5) months of abated rent shall be for the first (1st), the seventeenth (17th), the eighteenth (18th), the nineteenth (19th) and the thirty-sixth (36th) months of the Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this the Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article Section 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent AmountArticle 3." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

Appears in 1 contract

Samples: Standard Office Lease (Matchnet, Inc.)

Basic Rental. (a) Tenant promises and agrees to pay Landlord the Basic Rental (subject to Landlord during the Term hereofadjustment as hereinafter provided) without demand, at Landlord's office notice, deduction, counterclaim, recoupment or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlordset-off, the monthly and annual sums as set forth in Article 1.C. for each month of the entire Lease Term. The first monthly installment shall be due and payable upon execution of this Lease. The Basic Lease Provisions, payable Rental for each subsequent month shall be paid in advance beginning on the first (1st) day of the calendar month following the expiration of the first calendar month of the Lease Term and continuing thereafter on or before the first day of each succeeding calendar monthmonth during the term hereof; provided, without demandhowever, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon on one-three hundred sixtieth (1/360th) of the actual number current annual Basic Rental for each day of days the first partial month, if any, this Lease is in such month effect and shall be due and payable upon as aforesaid. (b) In the Commencement Dateevent any installment of the Basic Rental, or any other sums which became owing by Tenant to Landlord under the provisions hereof, are not received within five business (5) days after the due date thereof (without in any way implying Landlord's consent to such late payment), Tenant shall pay, in addition to such installment of the Basic Rental or such other sums owed, and not as a penalty, additional rent in the form of a late payment charge equal to ten percent (10%) of such monthly installment of the Basic Rental or such other sums owed for each month or part thereof such payment is overdue. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to the provisions of this Lease, it being understood that such sums shall bear interest from the date of the advance until paid in full, which Tenant hereby agrees to pay to Landlord, at the rate of fourteen percent (14%) per annum or the highest rate permitted by law, whichever is less. Notwithstanding the foregoing, Tenant shall not be required to pay a late fee or interest for the first late payment or failure to timely reimburse Landlord for an advance during each Lease year, as long as Landlord receives such payment within 15 days of the date when due.

Appears in 1 contract

Samples: Lease Agreement (Averstar Inc)

Basic Rental. (a) Tenant promises and agrees to pay Landlord the Basic Rental (subject to Landlord during the Term hereofadjustment as hereinafter provided) without demand, at Landlord's office notice, deduction, recoupment, counterclaim or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlordset-off, the monthly and annual sums as set forth in Article 1.C. for each month of the entire Lease Term. The first monthly installment shall be due and payable upon execution of this Lease. The Basic Lease Provisions, payable Rental for each subsequent month shall be paid in advance beginning on the first (1st) day of the calendar month following the expiration of the first calendar month of the Lease Term and continuing thereafter on or before the first day of each succeeding calendar monthmonth during the term hereof, without demandprovided, setoff or deductionhowever, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon on one-three hundred sixtieth (1/360th) of the actual number current annual Basic Rental for each day of days the first partial month, if any, this Lease is in such month effect and shall be due and payable upon as aforesaid. (b) In the Commencement Dateevent any installment of the Basic Rental, or any other sums which became owing by Tenant to Landlord under the provisions hereof, are not received within five (5) business days after the due date thereof (without in any way implying Landlord's consent to such late payment), Tenant shall pay, in addition to such installment of the Basic Rental or such other sums owed, and not as a penalty, additional rent in the form of a late payment charge equal to five percent (5%) of such monthly installment of the Basic Rental or such other sums owed for each month or part thereof such payment la overdue. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to the provisions of this Lease, it being understood that such sums shall bear interest from the date of the advance until paid in full, which Tenant hereby agrees to pay to Landlord, at the rate of fourteen percent (14%) per annum or the highest rate permitted by law, whichever is less.

Appears in 1 contract

Samples: Lease Agreement (Spacehab Inc \Wa\)

Basic Rental. Tenant agrees to pay to Landlord during the Term hereof, at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the initial monthly and annual sums as set forth in Article 1.C. 1.C of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Monthly Basic Rental for the second five (2nd5) and third (3rd) full calendar months of the initial Lease Term. The five (5) months of abated rent shall be for the first (1st), the seventeenth (17th), the eighteenth (18th), the nineteenth (19th) and the thirty-sixth (36th) months of the Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this the Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article Section 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Monthly Basic Rental that was abated under the provisions of this Section 3(aArticle 3. (b). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

Appears in 1 contract

Samples: Lease Agreement

Basic Rental. Tenant agrees to pay to Landlord during the Term hereof, at Landlord's ’s office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the initial monthly and annual sums as set forth in Article 1.C. of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's ’s obligation to pay monthly Basic Rental for the second (2nd) and ), third (3rd), fourth (4th), fifth (5th) and sixth (6th) full calendar months of the initial Lease Term. During such abatement periodsperiod, Tenant shall still be responsible for the payment of all of its other monetary obligations under this the Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article Section 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a)Article 3. The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first (1st) full month's ’s Basic Rental shall be paid to Landlord in accordance with Article 1.J. 1.I. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement DateProvisions.

Appears in 1 contract

Samples: Standard Office Lease (Tut Systems Inc)

Basic Rental. (a) Throughout the term Tenant agrees to shall pay to Landlord during as rent the Term hereof, at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, basic annual rental for said premises in the monthly and annual sums as amount set forth in Article 1.C. 1 plus the adjustment for increases in the cost of the Basic Lease Provisions, operation and maintenance as hereinafter provided. The rent shall be payable in equal monthly installments in advance on the first (1st) day of each and every calendar month, without demand, setoff or deduction, and in . The payment for the event this Lease commences or first full month of the date of expiration term is to be made concurrently with the execution of this Lease occurs Lease. When the Commencement Date is other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental payable for the partial month commencing as of following the Commencement Date shall be prorated based upon the actual number of days in such month on a daily basis and shall be due and payable upon on the Commencement DateDate of the term. Tenant acknowledges that late payment by Tenant to Landlord of rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which would be extremely difficult and impractical to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the premises. Therefore, in the event Tenant shall fail to pay any installment of rent or any sum due hereunder after such amount is due, Tenant shall pay to Landlord as additional rent a late charge equal to ten percent (10%) of such installment or other sum of $25.00 per month whichever is greater. A $10.00 charge will be paid by the Tenant to the Landlord for each returned check. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall neither constitute a waiver of Tenant's default with respect to such overdue amount nor prevent Landlord from exercising any other right or remedy granted under this Lease. (b) The minimum monthly rental shall be adjusted on each anniversary of the commencement date of this lease in the following manner: The Consumer Price Index for all Urban Consumers (base year 1967 = 100) for San Diego California, published by the United States Department of Labor, Bureau of Labor Statistics ("Index"), which is published for the date nearest the anniversary of the commencement date of this lease ("Anniversary Index"), shall be compared with the Index published for the date immediately preceding the month in which the term of this lease commences ("Beginning Index"). If this Anniversary Index has increased over the Index applicable to the previous year, the minimum monthly rent payable during the succeeding year shall be set by multiplying the minimum monthly rental for the immediately preceding year by a fraction, the numerator of which is the Anniversary Index and the denominator of which is the prior year's Anniversary Index except in the second year when the denominator shall be the beginning year.

Appears in 1 contract

Samples: Office Space Lease (Acubid Com Inc)

Basic Rental. (a) Tenant promises and agrees to pay Landlord the Basic Rental (subject to Landlord during the Term hereofadjustment as hereinafter provided) without demand, at Landlord's office notice, deduction, counterclaim, recoupment or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlordset-off, the monthly and annual sums as set forth in Article 1.C. for each month of the entire Lease Term (subject to subsection (d) below). The first monthly installment shall be due and payable upon execution of this Lease. The Basic Lease Provisions, payable Rental for each Subsequent month shall be paid in advance beginning on the first (1st) day of the calendar month following the expiration of the first calendar month of the Lease Term and continuing thereafter on or before the first day of each succeeding calendar monthmonth during the term hereof; provided, without demandhowever, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon on one-three hundred sixtieth (1/360th) of the actual number current annual Basic Rental for each day of days the first partial month, if any, this Lease is in such month effect and shall be due and payable upon as aforesaid. (b) In the Commencement Dateevent any installment of the Basic Rental, or any other sums which became owing by Tenant to Landlord under the provisions hereof, are not received within ten (10) days after the due date thereof (without in any way implying Landlord's consent to such late payment), Tenant shall pay, in addition to such installment of the Basic Rental or such other sums owed, and not as a penalty, additional rent in the form of a late payment charge equal to five percent (5%) of such monthly installment of the Basic Rental or such other sums owed for each month or part thereof such payment is overdue. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to the provisions of this Lease, it being understood that such sums shall bear interest from the date of the advance until paid in full, which Tenant hereby agrees to pay to Landlord, at the rate of eighteen percent (18%) per annum or the highest rate permitted by law, whichever is less. (c) Tenant shall pay all rent to Landlord at the following address, or at such other address as Landlord notifies Tenant in writing: The Equitable Life Assurance Society of the United States c/o Compass Management and Leasing, Inc. P.O. Xxx 000000 Xxxxxxxxx, XX 00000-0000 (d) Notwithstanding the foregoing, Landlord agrees to abatx xxx-half (1/2) of each of the first four (4) months of Basic Rental due during the Term hereof.

Appears in 1 contract

Samples: Lease Agreement (Visual Networks Inc)

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Basic Rental. Subject to Section 1.2 of the Tenant Work Letter, Tenant agrees to pay to Landlord during the Term hereof, at Landlord's ’s office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the monthly and annual sums as set forth in Article 1.C. of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's ’s obligation to pay monthly Basic Rental and Tenant’s Proportionate Share of Direct Costs for the second (2nd), thirteenth (13th), twenty-fifth (25th), thirty-seventh (37th), forty-ninth (49th), sixty-first (61st) and seventy-third (3rd73rd) full calendar months month of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Leaseincluding, then as a part of the recovery set forth in Article 20 of this Leasewithout limitation, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenantelectricity charges. In addition, notwithstanding the foregoing, the first full month's ’s Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

Appears in 1 contract

Samples: Standard Office Lease (Horizon Pharma, Inc.)

Basic Rental. Tenant (a) Subject to the rental abatement as herein provided, commencing on the Commencement Date, Xxxxxx promises and agrees to pay Landlord the Basic Rental (subject to Landlord adjustment as hereinafter provided) without demand, notice, deduction, counterclaim, abatement or set-off, for each month of the entire Lease Term. The first monthly installment of Basic Rental payable hereunder shall be due and payable upon execution of this Lease. The Basic Rental for each subsequent month shall be paid in advance beginning on the first day of the calendar month following the expiration of the first calendar month of the Lease Term for which Basic Rental is payable hereunder and continuing thereafter on or before the first day of each succeeding calendar month during the Term term hereof; provided, however, that Basic Rental for the second calendar month for which Basic Rental is payable hereunder shall be prorated based on one-three hundred sixtieth (1/360th) of the current annual Basic Rental for each day of the first partial month, if any, this Lease is in effect and shall be due and payable as aforesaid. Notwithstanding the foregoing, so long as Tenant is not then in default hereunder, beyond any applicable notice and cure period, Landlord agrees to xxxxx the Basic Rental otherwise payable for each of the first three (3) months following the Commencement Date. Notwithstanding anything to the contrary contained herein, if Tenant fails to timely pay, which shall include any required notice period, any two (2) installments of rent within a six-month period, Landlord at its sole option may 1) require Tenant to make all future payments on or before the due date in cash or by cashier’s check or money order, and the delivery of Tenant’s personal or corporate check shall no longer constitute payment thereof, or 2) Landlord may require that Tenant deposit an additional Security Deposit equal to one month’s rent, from which Landlord, at Landlord's office his or her sole discretion, may satisfy any future payments to be made by Tenant, and Tenant shall be required to maintain such other person or at additional Security Deposit levels throughout the remaining Lease Term as described in Section 5 herein, in which event Tenant shall have 5 business days to deposit such other place additional Security Deposit as directed from time to time by written notice to Tenant from Landlord, required above. (b) In the monthly and annual sums as set forth in Article 1.C. event that any installment of the Basic Lease ProvisionsRental, payable in advance or any other sums which become owing by Tenant to Landlord under the provisions hereof are not received on or before the first (1st) day of the month in which such installment is due, or any other sum hereunder within ten (10) days after accrual or billing therefor, there shall be added to such unpaid amount a late charge of the greater of $250.00 or five percent (5%) of the installment or amount due in order to compensate Landlord for the extra administrative expense thereby incurred. Landlord will waive the late charge once in each calendar monthLease Year, without demandprovided Tenant makes any such installment of the Basic Rental, setoff or deductionany other sums which become owing by Tenant to Landlord within two (2) business days of tenant’s receipt of notice of such non-payment, and in the event this Lease commences or After twenty (20) days have elapsed from the date of expiration of this Lease occurs other than on the first (1st) day accrual or last day of a calendar monthbilling, the rent for such month total amount due shall bear interest at 12% per annum, commencing from the 21st day until the date payment is made in full.. (c) All payments due hereunder, including payment of the security deposit, shall be prorated. Notwithstanding anything made payable to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this LeaseP6/Xxxxxxxx 8609 Westwood, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periodsLLC, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this LeasePO Box 71238, then as a part of the recovery set forth in Article 20 of this LeasePhiladelphia, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent AmountPA 19176." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

Appears in 1 contract

Samples: Deed of Lease (Urgent.ly Inc.)

Basic Rental. Tenant hereby covenants and agrees to take and hold the demised premises as Tenant of Landlord, for the term hereinabove set forth, and agrees to pay to Landlord during as basic annual rental therefor the Term hereof, at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the monthly and annual sums as set forth in Article 1.C. sum of the Basic Lease ProvisionsONE HUNDRED SIXTY FIVE THOUSAND ONE HUNDRED SEVENTY-EIGHT & NO/100 Dollars ($165,178.00), payable in monthly installments of THIRTEEN THOUSAND SEVEN HUNDRED SIXTY-FOUR & 83/100 Dollars ($13,764.83), in advance on the first (1st) day of each calendar month, without deduction or demand, setoff or deduction, except that if the first rent commences to accrue and in the event this Lease commences or the date of expiration of this Lease occurs be payable on a day other than on the first (1st) day or last day of a calendar month, the rent for the fractional part of such first month shall be prorated. Notwithstanding anything In the event Tenant's monthly rent payment is not received by Landlord within five (5) business days of the due date, then Tenant covenants to pay Landlord a "late charge" of five percent (5%) of the amount due, in addition to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay aforesaid monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Leaserent payment. In the event such payment shall not be received by Landlord within ten (10) days after such due date, then Tenant hereby covenants and agrees to pay to Landlord an "additional late charge" of a default one-half of one percent (0.5%) of the total amount due for each and every day beyond ten (10) days after said due date until the total payment is made. In the event Tenant pays his rent by check and said check is returned by the bank unpaid, Tenant under shall pay to Landlord the terms sum of this Lease that results Twenty-Five Dollars ($25.00) to cover the costs and expenses of processing the returned check, in early termination pursuant addition to the provisions of Section 20(a) of this Leaseaforesaid monthly rent payment, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above and any late charges which may be referred herein involved. At such time as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained hereinexact rentable area is determined, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoingif different than 6,353 square feet, the first full month's Basic Rental shall basic annual rental will be paid to Landlord in accordance with Article 1.J. recomputed using the annual rate of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon $26.00 per square foot times the actual number of days in such month rentable area and shall this lease will be due and payable upon the Commencement Date.revised accordingly. (SEE ADDENDUM)

Appears in 1 contract

Samples: Office Lease (Carey International Inc)

Basic Rental. Tenant agrees to pay to Landlord during the Term hereof, at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the initial monthly and annual sums as set forth in Article 1.C. of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, except as expressly provided in this Lease, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Leaseherein, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) through and third including the fifth (3rd5th) full calendar months of the initial Lease Term. During such abatement periodsperiod, Tenant shall still be responsible for the payment of all of its other monetary obligations under this the Lease. In the event If an Event of a default by Tenant under the terms of this Lease Default occurs that results in early termination of this Lease pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article Section 20 of this Lease, Landlord shall be entitled to the recovery of the unamortized portion of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to TenantArticle 3. In addition, notwithstanding the foregoing, the first (1st) full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. 1.I. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental and Rental Tax for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

Appears in 1 contract

Samples: Standard Multi Tenant Lease (SCOLR Pharma, Inc.)

Basic Rental. a) Tenant promises and agrees to pay Landlord the Basic Rental (subject to Landlord adjustment as hereinafter provided) without demand, notice, deduction, counterclaim, abatement or set-off, for each month of the entire Lease Term. The first monthly installment of Basic Rental shall be due and payable upon execution of this Lease. The Basic Rental for each subsequent month shall be paid in advance beginning on the calendar month following the expiration of the first calendar month of the Lease Term and continuing thereafter on or before the first day of each succeeding calendar month during the Term term hereof; provided, however, that Basic Rental for the second calendar month shall be prorated based on one-three hundred sixtieth (1/360th) of the current annual Basic Rental for each day of the first partial month, if any, this Lease is in effect and shall be due and payable as aforesaid. Notwithstanding anything to the contrary contained herein, if Tenant fails to timely pay any two (2) installments of rent within a six-month period, Landlord at its sole option may 1) require Tenant to make all future payments on or before the due date in cash or by cashier's check or money order, and the delivery of Tenant's personal or corporate check shall no longer constitute payment thereof, or 2) Landlord may require that Tenant deposit an additional Security Deposit equal to three (3) months rent, from which Landlord, at Landlord's office or its sole discretion, may satisfy any future payments to be made by Tenant, and Tenant shall be required to maintain such other person or at additional Security deposit levels throughout the remaining Lease Term as described in Section 5 herein, in which event Tenant shall have five (5) days to deposit such other place additional Security Deposit as directed from time to time by written notice to Tenant from Landlord, required above. b) In the monthly and annual sums as set forth in Article 1.C. event that any installment of the Basic Lease ProvisionsRental, payable in advance or any other sums which become owing by Tenant to Landlord under the provisions hereof are not received on or before the first (1st) day of each calendar monththe month in which such installment is due, without demandor any other sum hereunder within ten (10) days after accrual or billing therefore, setoff there shall be added to such unpaid amount a late charge of the greater of $250.00 or deduction, and ten percent (10%) of the installment or amount due in order to compensate Landlord for the event this Lease commences or extra administrative expense thereby incurred. After twenty (20) days have elapsed from the date of expiration of this Lease occurs other than on the first (1st) day accrual or last day of a calendar monthbilling, the rent for such month total amount due shall bear interest at 18% per annum or the maximum rate allowable by law. c) All payments due hereunder, including payment of the security deposit, shall be prorated. Notwithstanding anything made payable to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent AmountBALTIMORE BOULEVARD ASSOCIATES LIMITED PARTNERSHIP." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date."

Appears in 1 contract

Samples: Deed of Lease (Old Line Bancshares Inc)

Basic Rental. Tenant agrees to pay to Landlord during the Term hereof, at Landlord's ’s office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the monthly and annual sums as set forth in Article 1.C. of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx one hundred percent (100%) of Tenant's ’s obligation to pay monthly Basic Rental for the first (1st) , second (2nd) and ), third (3rd) and fourth (4th) full calendar months of the initial Lease TermTerm only. During such abatement periodsperiod, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease, including any applicable Rental Tax and parking charges. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

Appears in 1 contract

Samples: Standard Office Lease (United Business Holdings, Inc)

Basic Rental. Tenant agrees to pay to Landlord during the Term hereof, ------------ at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the initial monthly and annual sums as set forth in Article 1.C. 1.C of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all is not in default in any of its monetary obligations under this Lease as of the terms and conditions expiration of this Leasethe twelfth (12th) month of the Term, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second thirteenth (2nd13th) and third (3rd) full calendar months month of the initial Lease TermTerm by fifty percent (50%). During such abatement periodsperiod, Tenant shall still be responsible for the payment of the remaining fifty percent (50%) of monthly Basic Rental and all of its other monetary obligations under this the Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a)Article 3. The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental rent shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement DateProvisions.

Appears in 1 contract

Samples: Office Lease (E Perception Inc)

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