Common use of Beginning on the Rent Commencement Date Clause in Contracts

Beginning on the Rent Commencement Date. in addition to the Base Rent hereunder, Tenant shall pay, as Additional Rent, 1/12th of its pro-rata share of the “Expenses” (as hereinafter defined) monthly, in advance, together with the payment of Base Rent. Expenses shall be equitably pro-rated for any partial calendar year during the Term, and Tenant shall only be responsible for its pro-rata share of said prorated Expenses. Landlord shall reasonably estimate the Expenses which will be payable for each calendar year (or partial calendar year) during the Term, in advance. Within ninety (90) days after the end of each calendar year during the Term, Landlord shall furnish Tenant a detailed statement of the actual Expenses incurred throughout the prior calendar year. An adjustment shall be made between Landlord and Tenant with payment to or repayment by Landlord, as the case may require, to the end that Landlord shall receive the entire amount actually owed by Tenant for Expenses for such calendar year (or partial calendar year) and Tenant shall receive reimbursement for any overpayments within thirty (30) days after delivery of said statement by Landlord. The foregoing adjustment obligation of Landlord and Tenant shall survive expiration or termination of this Lease. If such statements show an Expense payment due from Tenant to Landlord then Tenant shall make the payment within thirty (30) days after receipt of such statements. The payment of any Additional Rent by Tenant shall not preclude it from questioning the correctness of any such statement. Tenant, its attorneys, accountants and agents, at its sole cost and expense, shall, during normal business hours following prior written notice to Landlord, have the right to examine and audit Landlord’s books and records, including such other records and accounts as may contain information related to the Expenses for the period in question and to make copies thereof. In the event such audit reveals an overstatement of Landlord’s Expenses of more than four percent (4%), Landlord shall reimburse Tenant for reasonable out-of-pocket costs and expenses incurred by it in conducting such audit. On or before November 15th of each calendar year during the Term, Landlord agrees to provide Tenant with a good faith estimate of the projected Expenses for the immediately following calendar year. In the event Tenant is not satisfied with the projected Expenses, Tenant shall have the right, in its sole discretion, to elect to (i) take over any specified maintenance or service to be provided to the Project for the immediately following calendar year or (ii) for any specified maintenance or service that Tenant is not satisfied with the projected cost thereof, require Landlord to obtain at least two (2) additional bids from qualified third parties reasonably selected by Tenant to provide such specified maintenance or service to the Project. Such election must be made by Tenant, if at all, within thirty (30) days after Tenant’s receipt of the estimated projected Expenses from Landlord. In the event Tenant elects to have Landlord re-bid any specified service or maintenance, Landlord agrees to accept the third party with the lowest bid (including any previous bids obtained by Landlord). Further, prior to entering into any service or maintenance contract for the Project, Landlord agrees to provide to Tenant the proposed contract (which shall include the cost therefore), and if Tenant is not satisfied with the cost thereof, Tenant shall have the right, in its sole discretion, to elect to (i) take over the maintenance or service in question or (ii) require Landlord to obtain at least two (2) additional bids from qualified third parties reasonably selected by Tenant to provide the maintenance or service in question. Such election must be made by Tenant, if at all, within thirty (30) days after Tenant’s receipt of the proposed contract from Landlord. In the event Tenant elects to have Landlord re-bid the maintenance or service in question, Landlord agrees to accept the third party with the lowest bid (including any previous bids obtained by Landlord).

Beginning on the Rent Commencement Date. in addition to the Base Rent hereunder, Tenant shall pay, as Additional Rentwithout prior notice or demand, 1/12th of its pro-rata share to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Expenses” (as hereinafter defined) monthly, in advance, together with the payment of Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Expenses The Base Rent for the first full month of the Lease Term shall be equitably pro-rated for any partial calendar year during paid at the Term, and Tenant shall only be responsible for its pro-rata share time of said prorated Expenses. Landlord shall reasonably estimate the Expenses which will be payable for each calendar year (or partial calendar year) during the Term, in advance. Within ninety (90) days after the end of each calendar year during the Term, Landlord shall furnish Tenant a detailed statement of the actual Expenses incurred throughout the prior calendar year. An adjustment shall be made between Landlord and Tenant with payment to or repayment by Landlord, as the case may require, to the end that Landlord shall receive the entire amount actually owed by Tenant for Expenses for such calendar year (or partial calendar year) and Tenant shall receive reimbursement for any overpayments within thirty (30) days after delivery of said statement by Landlord. The foregoing adjustment obligation of Landlord and Tenant shall survive expiration or termination Tenant’s execution of this Lease. If such statements show an Expense any Rent payment due from Tenant to Landlord then Tenant shall make date (including the payment within thirty (30Rent Commencement Date) days after receipt falls on a day of the month other than the first day of such statements. The month or if any payment of Rent is for a period which is shorter than one month, the Rent for any Additional Rent by Tenant fractional month shall not preclude it from questioning the correctness of any such statement. Tenant, its attorneys, accountants and agents, at its sole cost and expense, shall, during normal business hours following prior written notice to Landlord, have the right to examine and audit Landlord’s books and records, including such other records and accounts as may contain information related to the Expenses accrue on a daily basis for the period in question and from the date such payment is due to make copies thereof. In the event end of such audit reveals an overstatement of Landlord’s Expenses of more than four percent (4%), Landlord shall reimburse Tenant for reasonable out-of-pocket costs and expenses incurred by it in conducting such audit. On calendar month or before November 15th of each calendar year during to the Term, Landlord agrees to provide Tenant with a good faith estimate end of the projected Expenses for Lease Term at a rate per day which is equal to 1/365 of the immediately following calendar yearapplicable annual Rent. In the event Tenant is not satisfied with the projected Expenses, Tenant shall have the right, in its sole discretion, to elect to (i) take over any specified maintenance All other payments or service adjustments required to be provided made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Project for the immediately following calendar year Premises, or any other restriction on Tenant’s use, or (iiexcept as expressly provided herein) for any specified maintenance casualty or service that Tenant is not satisfied with the projected cost thereoftaking, require or any failure by Landlord to obtain at least two (2) additional bids from qualified third parties reasonably selected by Tenant to provide such specified maintenance perform any covenant contained herein, or service to the Project. Such election must be made by Tenant, if at all, within thirty (30) days after Tenant’s receipt of the estimated projected Expenses from Landlord. In the event Tenant elects to have Landlord re-bid any specified service or maintenance, Landlord agrees to accept the third party with the lowest bid (including any previous bids obtained by Landlord). Further, prior to entering into any service or maintenance contract for the Project, Landlord agrees to provide to Tenant the proposed contract (which shall include the cost therefore), and if Tenant is not satisfied with the cost thereof, Tenant shall have the right, in its sole discretion, to elect to (i) take over the maintenance or service in question or (ii) require Landlord to obtain at least two (2) additional bids from qualified third parties reasonably selected by Tenant to provide the maintenance or service in question. Such election must be made by Tenant, if at all, within thirty (30) days after Tenant’s receipt of the proposed contract from Landlord. In the event Tenant elects to have Landlord re-bid the maintenance or service in question, Landlord agrees to accept the third party with the lowest bid (including any previous bids obtained by Landlord)other occurrence.

Beginning on the Rent Commencement Date. in addition Tenant covenants and agrees to pay Landlord, as additional rent, the sum of 1/12th of estimated annual maintenance costs, taxes and insurance (to the Base Rent hereunder, Tenant shall pay, as Additional Rent, 1/12th of its pro-rata share of the “Expenses” (as hereinafter defined) monthlyextent billed separately and not included in maintenance), in advance, together with on the payment first day of Base Renteach calendar month of the lease. Expenses shall be equitably pro-rated Landlord intends to give Tenant written notice once a year of the amount of estimated monthly payments for maintenance, taxes and insurance, and Tenant will pay these amounts monthly without further notice or billing. In the event that such annual costs of the Property for any partial calendar year during the Termterm hereof shall exceed the estimated sum, and Tenant shall only be responsible for pay its pro-pro rata share of said prorated Expensesany such excess within thirty (30) days from written notice by Landlord to Tenant. In the event the total estimated payments for the year exceed Tenant's share of the actual costs, Landlord shall reasonably estimate credit such excess amount against the Expenses which will be payable for each calendar year (or partial calendar year) during the Term, in advancenext due payments of fixed rent and additional rent. Within ninety (90) days after the end of each calendar year during the Term, Landlord shall furnish Tenant with a detailed statement in reasonable detail of the actual Expenses incurred throughout costs of the prior Property for the preceding calendar yearyear showing computation of Tenant's pro rata share of the excess. An adjustment Landlord has given to Tenant schedules which show the actual real estate taxes, insurance and maintenance expenses for the Property for 1996 and the estimated amounts for 1997. Said statement shall be made between rebuttable evidence of the actual amount of costs of the Property as well as the amount, if any, due from Tenant. No further evidence shall be required of Landlord and by Tenant with prerequisite to the making of any payment to or repayment by Landlord, as the case may require, to the end that Landlord shall receive the entire amount actually owed by Tenant for Expenses for such calendar year (or partial calendar year) and as contemplated in this paragraph; provided, however, the Tenant shall receive reimbursement for any overpayments within thirty (30) days after delivery of said statement by Landlord. The foregoing adjustment obligation be provided with reasonable documentation setting forth the costs of Landlord and for same upon request thereof by Tenant. Tenant shall survive expiration or termination of this Lease. If such statements show an Expense payment due from Tenant to Landlord then Tenant shall make the payment within thirty (30) days after receipt of such statements. The payment of any Additional Rent by Tenant shall not preclude it from questioning the correctness of any such statement. Tenant, its attorneys, accountants and agents, at its sole cost and expense, shall, during normal business hours following prior written notice to Landlord, have the right to examine and audit Landlord’s books and records, including such other inspect the applicable accounting records and accounts as may contain information related to of Landlord at the Expenses for the period in question and to make copies thereof. In the event such audit reveals an overstatement office of Landlord’s Expenses of more than four percent (4%), Landlord shall reimburse Tenant for 's managing agent upon reasonable out-of-pocket costs and expenses incurred by it in conducting such auditprior notice. On or before November 15th of each calendar year during the Term, Landlord agrees to provide Tenant with a good faith estimate of the projected Expenses for the immediately following calendar year. In the event Tenant is not satisfied with the projected Expenses, Tenant shall have the right, in its sole discretion, to elect to (i) take over any specified maintenance or service Any payments to be provided to the Project for the immediately following calendar year or (ii) for any specified maintenance or service that Tenant is not satisfied with the projected cost thereof, require Landlord to obtain at least two (2) additional bids from qualified third parties reasonably selected by Tenant to provide such specified maintenance or service to the Project. Such election must made hereunder shall be made by Tenant, if at all, Tenant within thirty ten (3010) days after Tenant’s receipt from the date of the estimated projected Expenses billing from Landlord. In the event Tenant elects to have Landlord re-bid any specified service or maintenancePayments for partial year shall be prorated. However, Landlord agrees will have the right to accept xxxx Tenant for its pro rata share of repairs and/or replacements when incurred if they exceed the third party with the lowest bid (including any previous bids obtained by Landlord). Further, prior to entering into any service or maintenance contract estimated annual budget for the Project, Landlord agrees to provide to Tenant the proposed contract (which shall include the cost therefore)that category, and if Tenant is not satisfied with the cost thereof, Tenant budget and monthly estimated payments shall have the right, in its sole discretion, to elect to (i) take over the maintenance or service in question or (ii) require Landlord to obtain at least two (2) additional bids from qualified third parties reasonably selected by Tenant to provide the maintenance or service in question. Such election must be made by Tenantadjusted accordingly, if at all, within thirty (30) days after Tenant’s receipt necessary. At the end of the proposed contract term of this lease, and as soon as the actual expense amounts have been determined, Tenant's pro rata share of taxes, insurance and maintenance will be pro rated as of the termination date and any overpayment or underpayment of Tenant's share resulting from Landlord. In estimated payments will be paid to the event Tenant elects to have Landlord re-bid the maintenance or service in question, Landlord agrees to accept the third other party with the lowest bid (including any previous bids obtained by Landlord)promptly.

Beginning on the Rent Commencement Date. in addition to the Base Rent hereunder, Tenant shall pay, as Additional Rent, 1/12th of its pro-rata share of the “Expenses” (as hereinafter defined) monthly, in advance, together with the payment of Base Rent. Expenses shall be equitably pro-rated for any partial calendar year during the Term, and Tenant shall only be responsible for its pro-rata share of said prorated Expenses. Landlord shall reasonably estimate the Expenses which will be payable for each calendar year (without prior notice or partial calendar year) during the Term, in advance. Within ninety (90) days after the end of each calendar year during the Term, Landlord shall furnish Tenant a detailed statement of the actual Expenses incurred throughout the prior calendar year. An adjustment shall be made between Landlord and Tenant with payment to or repayment by Landlord, as the case may requiredemand, to the end that Landlord shall receive the entire amount actually owed by Tenant for Expenses for such calendar year (or partial calendar year) and Tenant shall receive reimbursement for any overpayments within thirty (30) days after delivery of said statement by Landlord. The foregoing adjustment obligation of Landlord and Tenant shall survive expiration or termination of this Lease. If such statements show an Expense payment due from Tenant to Landlord then Tenant shall make the payment within thirty (30) days after receipt of such statements. The payment of any Additional Rent by Tenant shall not preclude it from questioning the correctness of any such statement. Tenant, its attorneys, accountants and agents, at its sole cost and expense, shall, during normal business hours following prior written notice to Landlord, have the right to examine and audit Landlord’s books and records, including such other records and accounts as may contain information related to the Expenses for the period in question and to make copies thereof. In the event such audit reveals an overstatement of Landlord’s Expenses of more than four percent (4%), Landlord shall reimburse Tenant for reasonable out-of-pocket costs and expenses incurred by it in conducting such audit. On or before November 15th of each calendar year during the Term, Landlord agrees to provide Tenant with a good faith estimate of the projected Expenses for the immediately following calendar year. In the event Tenant is not satisfied with the projected Expenses, Tenant shall have the right, in its sole discretion, to elect to agent (i) take over any specified maintenance at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, is legal tender for private or service to be provided to public debts in the Project for the immediately following calendar year United States of America, or (ii) by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease (“Advance Rent”). If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any specified maintenance fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or service to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant is not satisfied with waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the projected cost Premises or any part thereof, require Landlord or to obtain at least two (2) additional bids from qualified third parties reasonably selected by assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s covenants contained herein are independent and not dependent, and Tenant to provide such specified maintenance hereby waives the benefit of any statute or service judicial law to the Project. Such election must be made by Tenant, if at all, within thirty (30) days after Tenant’s receipt of the estimated projected Expenses from Landlord. In the event Tenant elects to have Landlord re-bid any specified service or maintenance, Landlord agrees to accept the third party with the lowest bid (including any previous bids obtained by Landlord). Further, prior to entering into any service or maintenance contract for the Project, Landlord agrees to provide to Tenant the proposed contract (which shall include the cost therefore), and if Tenant is not satisfied with the cost thereof, Tenant shall have the right, in its sole discretion, to elect to (i) take over the maintenance or service in question or (ii) require Landlord to obtain at least two (2) additional bids from qualified third parties reasonably selected by Tenant to provide the maintenance or service in question. Such election must be made by Tenant, if at all, within thirty (30) days after Tenant’s receipt of the proposed contract from Landlord. In the event Tenant elects to have Landlord re-bid the maintenance or service in question, Landlord agrees to accept the third party with the lowest bid (including any previous bids obtained by Landlord)contrary.