Fixed Base Rent. (a) Lessee shall pay to Lessor a fixed rent (“Fixed Base Rent”) during the Term without notice or (other than the notice set forth in Section 3.1(a)(iii)) demand in equal monthly installments in advance due upon the first (1st) day of each month from the Commencement Date to the Initial Term Expiration Date and, as applicable, the Renewal Term Expiration Date at the following annual rates (subject as applicable to the provisions of Section 9.1(l)).
(i) For the purposes set forth herein, the Lease Year 1 means the period from the Commencement Date to December 31 of the year in which the Commencement Date occurs, and each Lease Year thereafter shall mean the associated successive calendar year following, with Lease Year 34 ending on December 31 of the thirty-third (33rd) calendar year after December 31 of the Lease Year in which the Commencement Date occurs and, should the Renewal Term then be in effect, Lease Year 44 ending on December 31 of the forty-third (43rd) calendar year after December 31 of the Lease Year in which the Commencement Date occurs.
Fixed Base Rent. The total amount of fixed base rent paid or payable by the Subtenant to the Sublandlord for the Premises for each of the years ended 31 December 2018 and 31 December 2019 and for the eleven months ended 30 November 2020 amounted to approximately US$ 239 , 000 , US$ 388 , 000 and US$ 361 , 000 ( equivalent to approximately HK$1.85 million, HK$3.01 million and HK$2.80 million), respectively.
Fixed Base Rent. (i) The annual fixed base rent during the term of this Lease shall be as set forth on the Lease Summary page of this Lease, payable by the Tenant in equal monthly installments on or before the first day of each month, in advance, except that the first monthly installment of fixed base rent shall be paid upon signing of this Lease. In the event that the Commencement Date is not the first day of a calendar month the apportioned fixed base rent for the partial month in which the Commencement Date occurs shall be payable on or before the first day of the first full calendar month of the Term and payment of full installments of fixed base rent shall commence as of the second full calendar month of the Term
(b) All rents due herein and other sums due under this Lease shall be paid in U.S. funds payable on a U.S. bank at the office of the Landlord or at such other place designated by Landlord from time to time, without any prior demand and without any deduction or set-off whatsoever promptly on the dates due.
(c) In those instances where Tenant is required to pay additional rent herein, Tenant's proportionate share shall be 28.459% (on the basis of (i) 198,500 square feet over 697,500 square feet). If Tenant's actual use of any service or common utility is more than that of other tenants then the basis for the computing of said additional rent with regard to such service or utility shall be adjusted equitably based on such actual use.
(d) Any additional rent required to be paid by Tenant shall be due and payable no later than ten (10) days of the date of receipt by Tenant of statement by Landlord.
(e) Tenant hereby acknowledges that late payment 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 will be extremely difficult to ascertain. If any rent or other sums due from Tenant is not received by Landlord within ten (10) days after its due date, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of such overdue amount, plus costs and reasonable attorneys' fees, if any, incurred by Landlord to collect amounts due from Tenant. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of Tenant's late payment. Landlord's acceptance of such late charges shall not constitute a waiver of Tenant's default with respect to such overdue amount or estop Landlord from exercising any of ...
Fixed Base Rent. Tenant hereby covenants and agrees to pay to Landlord as "Fixed Base Rent" for the Premises during the entire Term, without any deductions or setoff whatsoever, the sum of (See rent indicated below) Dollars ($___) per year, in equal monthly installments of Dollars ($___) in advance, on the first day of each and every calendar month throughout the Term. All payments required to be made by Tenant to Landlord, under this Lease shall be made to Karric Square Shopping Center, c/o C B Richard Ellis, Inc., Department L-2233, Columbus, Ohio 43260-2233 or xx xxxx xxxxr place as Landlord may from time to time designate in writing. ================================================================== Year Rate/SF Annual Monthly ================================================================== 1 $11.00 $69,300.00 $5,775.00 ------------------------------------------------------------------ 2 $11.00 $69,300.00 $5,775.00 ------------------------------------------------------------------ 3 $11.50 $72,450.00 $6,037.50 ------------------------------------------------------------------ 4 $11.50 $72,450.00 $6,037.50 ------------------------------------------------------------------ 5 $11.50 $72,450.00 $6,037.50 ==================================================================
Fixed Base Rent. Tenant hereby covenants and agrees to pay to Landlord as "Fixed Base Rent" for the Premises during the entire Term, without any deductions or set off whatsoever, the sum of (SEE RENT INDICATED BELOW) Dollars ($-) per year, in equal monthly installments of Dollars ($-) in advance, on the first day of each and every calendar month throughout the Term. All payments required to be made by Tenant to Landlord, under this Lease shall be made to Karric Square Shopping Center, c/o Maxxxxx Xxxck & Associates, Inc., P.O. Xxx 000000, Xxxxxxxxxx 000, Xxxxxxxx, Xxxx 00000-0000 xx at such other place as Landlord may from time to time designate in writing.
Fixed Base Rent. Tenant hereby covenants and agrees to pay to Landlord as "Fixed Base Rent" for the Premises during the entire Term, without any deductions or setoff whatsoever, monthly installments in advance, on the first day of each and every calendar month throughout the Term as set forth below. Rent payments shall commence sixty (6) days after the expiration of the "fixturing period" is defined as the sixty (60) day period from the date Tenant has received all necessary building permits. Period Rent Per Monthly Annual Square Foot Payment Payment ----------- ------- ------- Year 1 $10.00 $2,250.00 $27,000.00 Year 2 $10.00 $2,250.00 $27,000.00 Year 3 $10.00 $2,250.00 $27,000.00 Year 4 $11.00 $2,475.00 $29,700.00 Year 5 $11.50 $2,587.00 $31,050.00 Total rent for term of Lease $141,750.00
Fixed Base Rent. Initial Scheduled Fixed Base Rent for the Lease Year starting January 1, 2022 is $4,406,467. [This is approximately 7.5% greater than Base Rent due under the Original Lease.] Annual Scheduled Fixed Base Rent increases every two years starting on January 1, 2024 by the cumulative increase in CPI for the preceding two years, with CPI change each year not greater than 3.5% or less than 0% (“Biennial Percentage Increase”). Fixed Base Rent equals Scheduled Fixed Base Rent starting upon the Commencement Date. Fixed Base Rent increases, in addition to Biennial Percentage Increases, are 7.5% for 2032 Lease Year, 10% for 2043 Lease Year, and should Renewal Term take effect, 5% for 2056 Lease Year. Lessee has agreed to pay an additional amount equal to the increase in rent as if the Commencement Date had occurred on January 1, 2022, and thus a lump sum equal to the difference between the rent that would be have been due under the Proposed Lease and the amount actually paid under the Original Lease is due upon the Commencement Date, referred in the Proposed Lease as “Supplemental Fixed Base Rent”. Percentage Rent: Three Percent (3%) multiplied by the amount by which annual Gross Revenues exceed $60 million and are less than or equal to $90 million, plus, if applicable (ii) Three and One-Half Percent (3.5%) multiplied by the amount by which annual Gross Revenues exceed $90 million and are less than or equal to $100 million, plus, if applicable (iii) Four Percent (4%) multiplied by the amount by which annual Gross Revenues exceed $100 million and are less than or equal to $110 million, plus, if applicable (iv) Four and One-Half Percent (4.5%) multiplied by the amount by which annual Gross Revenues exceed $110 million and are less than or equal to $120 million, plus, if applicable (v) Five Percent (5%) multiplied by the amount by which annual Gross Revenues exceed $120 million (the “Percentage Rent Allocation”). From the Percentage Rent Allocation, as calculated above, Lessee receives a Percentage Rent Deduction equal to (x) base rent as increased by CPI that would have been payable had the Original Lease continued to be in effect ($4,052,530 as of January 1, 2022) less (y) $3,465,212, which is the base rent payable in the 20th lease year under the Original Lease. “Gross Revenue” is aggregate gross revenues of Lessee determined in accordance with GAAP.
Fixed Base Rent. (b) Notwithstanding anything to the contrary contained in the Lease or this Fifth Amendment, provided Tenant shall not be in Material Default under any of the terms and provisions of the Lease, as modified by this Fifth Amendment, the Fixed Base Rent (excluding the portion of Fixed Base Rent allocable to electricity) payable under the Lease, as modified by this Fifth Amendment, shall be abated for the period, if any, commencing on the Effective Date and ending on December 31, 1995; provided, however, that upon the occurrence of (but only during the continuance of) a Material Default by Tenant under any of the terms and provisions of the Lease, as modified by this Fifth Amendment, such abatement shall end.
Fixed Base Rent. The Basic Rent for the Extended Term as set forth in Section 2 of the Lease shall be TWO HUNDRED ONE THOUSAND FOUR HUNDRED THIRTY-SEVEN AND 50/100 ($201,437.50) DOLLARS per annum payable in equal monthly installment of SIXTEEN THOUSAND SEVEN HUNDRED EIGHTY-SIX AND 46/100 ($16,786.46) DOLLARS for Basic Rent; except that a proportionately lesser sum may be paid for the first and last months of the term of this Lease if the term commences on a day other than the first day of the month in accordance with the provisions of this Amendment herein set forth.
Fixed Base Rent. Tenant shall pay to Landlord a fixed base rent (the “Fixed Base Rent”) as follows:
3.2.1 With respect to the period from and including the Lease Execution Date and ending on July 31, 2013, Fixed Base Rent shall be calculated and paid as set forth in Section 3.2.3(a) below.
3.2.2 From and after July 31, 2013, Fixed Base Rent shall be calculated as follows:
(a) with respect to the first full Lease Year (i.e., the Lease Year commencing August 1, 2013), the Fixed Base Rent shall be equal to Twenty-Five Million Dollars ($25,000,000), increased by the product of (i) two percent (2%) and (ii) a fraction the numerator of which is the number of calendar days in the Stub Period) and the denominator of which is three hundred sixty five (365);
(b) the Fixed Base Rent for each subsequent Lease Year shall be an amount equal to the greater of (x) the Fixed Base Rent payable with respect to the prior Lease Year increased by two percent (2%) and (y) the Fixed Base Rent payable with respect to the prior Lease Year as Adjusted by CPI.
3.2.3 The Fixed Base Rent shall be payable monthly in advance as follows (each monthly installment, the “Monthly Fixed Base Rent”):
(a) On the Lease Execution Date, Tenant shall pay Fixed Base Rent equal to (i) Two Million Eighty-Three Thousand Three Hundred Thirty-Three Dollars ($2,083,333) if the Lease Execution Date is the first day of the calendar month or (ii) otherwise, the product of Two Million Eighty-Three Thousand Three Hundred Thirty-Three ($2,083,333) multiplied by a fraction with a numerator equal to the number of days from and including the Lease Execution Date in the calendar month that includes the Lease Execution Date and a denominator equal to the total number of days in the calendar month that includes the Lease Execution Date (to cover the remaining days in the month in which the Lease Execution Date occurs);
(b) Commencing on the first (1st) day of the calendar month following the Lease Execution Date and, on the first (1st) day of each successive calendar month up to and including July 1, 2013, Tenant shall pay to Landlord a Monthly Fixed Base Rent equal to Two Million Eighty-Three Thousand Three Hundred Thirty-Three Dollars ($2,083,333); and
(c) Commencing on August 1, 2013, and on the first (1st) day of each subsequent calendar month during the Term of this Lease, Tenant shall pay to Landlord, in advance, one twelfth of the then-applicable Fixed Base Rent.