Fixed Rent; Additional Rent. (a) Subtenant covenants and agrees to pay to Sublandlord during and throughout the Term of this Sublease, Fixed Rent at the following rates: (i) Subtenant shall pay Fixed Rent with respect to the 40th Floor Premises, at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00) per annum, payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 40th Floor Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date; and (ii) Subtenant shall pay Fixed Rent with respect to the 39th Floor Premises, at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00) per annum, payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 39th Floor Premises Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date. (b) The parties agree to execute within ten (10) business days of each of the 40th Floor Commencement Date and the 39th Floor Commencement Date, or upon the delivery of the entire Sublease Premises to Subtenant, an amendment to this Sublease confirming the date when each Commencement Date and Rent Commencement Date occurred (and, if applicable, the date when any credit under Section 2(d) of this Sublease shall be exhausted). (c) Subtenant shall pay Fixed Rent, in equal monthly installments in advance, by wire transfer to an account designated by Sublandlord, on the first day of each calendar month during the Term of this Sublease. The monthly installment of Fixed Rent payable on account of any partial calendar month during the Term of this Sublease, if any, shall be prorated. Notwithstanding the foregoing, Subtenant shall pay one (1) month’s installment of Fixed Rent with respect to the entire Sublease Premises (i.e. $295,868.00) upon the execution of this Sublease, which installment of Fixed Rent shall be credited against the installments of Fixed Rent first due after the Rent Commencement Date. (d) All sums of money, other than Fixed Rent, as shall become due and payable by Subtenant to Sublandlord under this Sublease, shall be deemed to be “Additional Rent”; and Sublandlord shall have the same rights and remedies in the event of nonpayment of Additional Rent as are available to Sublandlord for the nonpayment of Fixed Rent. Any Additional Rent payable on account of items, services or facilities other than Escalation Rent which are not payable monthly by Sublandlord to Landlord under the Lease shall be paid by Subtenant to Sublandlord on or before the thirtieth (30th) day next following the rendering of an invoice therefor (unless a different time for payment is elsewhere stated herein). Sublandlord agrees to provide Subtenant with copies of any statements or invoices received by Sublandlord from Landlord pursuant to the terms of the Lease that relate wholly, or in part, to the Sublease Premises, and which are the obligation (in whole or in part) of the Subtenant under this Lease. Except as otherwise expressly provided in this Sublease, Subtenant shall pay all non-recurring items of Additional Rent and the same shall be due within thirty (30) days after notice by Sublandlord. (e) All Fixed Rent, Escalation Rent and all Additional Rent and other sums payable hereunder by Subtenant shall be paid without any deduction, offset, abatement, defense and/or counterclaim whatsoever except as hereinafter specifically provided to the contrary. All Fixed Rent, Escalation Rent shall be paid by a wire transfer of immediately available funds made directly to a bank account designated by Sublandlord in writing. Non-recurring items of Additional Rent, and all other sums payable hereunder, may be paid by good check payable to the order of Sublandlord. (f) If payment of any Fixed Rent or Additional Rent shall not have been paid within five (5) days of the date on which such amount was due and payable hereunder, Subtenant shall pay: (i) a late charge equal to 3% of the amount so due and owing; plus (ii) interest on the overdue amount at the Prime Rate from the date such overdue amount was due until the date of payment thereof, which amounts shall be added to the sum(s) due and shall be deemed Additional Rent due hereunder. Nothing in this Section contained and no acceptance of late charges by Sublandlord shall be deemed to extend or change the time for payment of Fixed Rent or Additional Rent hereunder. Notwithstanding the foregoing, on the first occasion in any calendar year in which a late charge shall be due and payable by Subtenant with respect to a late payment of Additional Rent, Subtenant shall not be obligated to pay such late charge unless Sublandlord shall have first given Subtenant notice that such item of Additional Rent is past due and Subtenant shall have failed to pay such sum within five (5) days after receipt of such notice.
Appears in 1 contract
Samples: Sublease (MF Global Holdings Ltd.)
Fixed Rent; Additional Rent. (a1) Subtenant Tenant covenants and agrees to pay to Sublandlord Landlord during and throughout the Term of this Sublease, sublease Fixed Rent at the following rates:
(i) Subtenant shall pay Fixed Rent with respect to the 40th Floor Premises, at the rate of One Million Two Hundred Seventy-Three Thousand Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00273,775.00) per annum, annum for each year (pro rated for any portion thereof) of the period from the Sublet Space Commencement Date to and including the Expiration Date payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 40th Floor Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date; and
(ii) Subtenant 22,814.58. Tenant shall pay the first month's Fixed Rent with respect to the 39th Floor Premises, at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00) per annum, payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 39th Floor Premises Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date.
(b) due upon signing. The parties agree to execute within ten (10) business days of each of the 40th Floor Sublet Space Commencement Date and the 39th Floor Commencement Date, or upon the delivery of the entire Sublease Premises to Subtenant, an amendment to this Sublease Lease confirming the date when each the Sublet Space Commencement Date and Rent Commencement Date occurred (and, if applicable, the date when any credit under Section 2(d) of this Sublease shall be exhausted)occurred.
(c2) Subtenant Tenant shall pay Fixed Rent, Rent in equal monthly installments in advance, by wire transfer on the fifth (5th) business day prior to an account designated by Sublandlord, on the first day of each calendar month during the Term of this Subleasesublease. The monthly installment of Fixed Rent payable on account of any partial calendar month during the Term of this Subleasesublease, if any, shall be prorated. Notwithstanding the foregoing, Subtenant shall pay one (1) month’s installment of Fixed Rent with respect to the entire Sublease Premises (i.e. $295,868.00) upon the execution of this Sublease, which installment of Fixed Rent shall be credited against the installments of Fixed Rent first due after the Rent Commencement Date.
(d3) All sums of money, other than Fixed Rent, as shall become due and payable by Subtenant Tenant to Sublandlord Landlord under this Subleasesublease, shall be deemed to be “Additional Rent”; additional rent, and Sublandlord Landlord shall have the same rights and remedies in the event of nonpayment non-payment of Additional Rent additional rent as are available to Sublandlord Landlord for the nonpayment non-payment of Fixed Rent. Any Additional Rent payable on account of itemsshall include, services or facilities other than but not be limited to, all Escalation Rent and all other costs, fees, expenses and charges due from and payable by Landlord to Prime Lessor which are not payable monthly by Sublandlord to Landlord under the Lease shall be paid by Subtenant to Sublandlord on or before the thirtieth (30th) day next following the rendering of an invoice therefor (unless a different time for payment is elsewhere stated herein). Sublandlord agrees to provide Subtenant with copies of any statements or invoices received by Sublandlord from Landlord pursuant to the terms of the Lease that relate whollyattributable to, or in partarise with respect to, to the Sublease PremisesSublet Space. Unless otherwise specified, and which are the obligation (in whole or in part) of the Subtenant under this Lease. Except as otherwise expressly provided in this Sublease, Subtenant Tenant shall pay all non-recurring items of Additional Rent and the same shall be due within thirty (30) days after notice by SublandlordLandlord.
(e) All Fixed Rent, Escalation Rent and all Additional Rent and other sums payable hereunder by Subtenant shall be paid without any deduction, offset, abatement, defense and/or counterclaim whatsoever except as hereinafter specifically provided to the contrary. All Fixed Rent, Escalation Rent shall be paid by a wire transfer of immediately available funds made directly to a bank account designated by Sublandlord in writing. Non-recurring items of Additional Rent, and all other sums payable hereunder, may be paid by good check payable to the order of Sublandlord.
(f) If payment of any Fixed Rent or Additional Rent shall not have been paid within five (5) days of the date on which such amount was due and payable hereunder, Subtenant shall pay: (i) a late charge equal to 3% of the amount so due and owing; plus (ii) interest on the overdue amount at the Prime Rate from the date such overdue amount was due until the date of payment thereof, which amounts shall be added to the sum(s) due and shall be deemed Additional Rent due hereunder. Nothing in this Section contained and no acceptance of late charges by Sublandlord shall be deemed to extend or change the time for payment of Fixed Rent or Additional Rent hereunder. Notwithstanding the foregoing, on the first occasion in any calendar year in which a late charge shall be due and payable by Subtenant with respect to a late payment of Additional Rent, Subtenant shall not be obligated to pay such late charge unless Sublandlord shall have first given Subtenant notice that such item of Additional Rent is past due and Subtenant shall have failed to pay such sum within five (5) days after receipt of such notice.
Appears in 1 contract
Samples: Sublease Agreement (I Many Inc)
Fixed Rent; Additional Rent. (a) Subtenant covenants and agrees to Sublessee shall pay to Sublandlord during and throughout the Term Sublessor a fixed rent, exclusive of this Subleaseelectricity, Fixed Rent at the following ratesan annual rate as follows:
(i) Subtenant shall pay Fixed Rent with respect to the 40th Floor Premises, at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars $185,346 per annum ($1,775,208.0015,445.50 per month) per annum, payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during for the period commencing at 12:00 a.m. on the 40th Floor Rent one hundred twentieth (120th) day immediately following the Commencement Date through and ending at 11:59 p.m. on the Expiration Dateincluding November 30, 2005; and
(ii) Subtenant shall pay Fixed Rent with respect to the 39th Floor Premises, at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars $194,172 per annum ($1,775,208.0016,181.00 per month) per annum, payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during for the period commencing at 12:00 a.m. on the 39th Floor Premises Rent Commencement Date and ending at 11:59 p.m. on December 1, 2005 through the Expiration Date.
(b) The parties agree to execute within ten All fixed rent shall be paid in equal monthly installments in advance on the first (101st) business days day of each and every calendar month of the 40th Floor Term hereof, commencing on the Commencement Date and hereof; provided, however, that if the 39th Floor Commencement Date, Date (or upon the delivery of the entire Sublease Premises to Subtenant, an amendment to this Sublease confirming if the date when each Commencement Date and Rent Commencement Date occurred (and, if applicable, on which the date when any credit under Section 2(d) Term of this Sublease shall expire or sooner terminate) shall be exhausted)other than the first day (or last day) of a calendar month, then Sublessee shall pay prorated fixed rent for such partial calendar month occurring within the Term hereof. All payments of fixed rent and additional rent shall be payable to, and delivered to, Sublessor at 0000 Xxxxxxxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx 00000 to the attention of: Xx. Xxxxx Means, or to such other place as Sublessor may designate upon thirty (30) days prior written notice to Sublessee.
(c) Subtenant In addition to, and not in lieu of, the fixed rent payable above, Sublessee shall pay Fixed Rent(such payment herein referred to as "Sublessee's Tax Payment") to Sublessor as additional rent, Sublessee's proportionate share of the amount by which Taxes (as defined in equal monthly installments the Prime Lease) for the tax year in advance, by wire transfer to an account designated by Sublandlord, on the first day question (any part of each calendar month which shall occur during the Term of this Sublease. The monthly installment of Fixed Rent payable on account of any partial calendar month Term, but only as to such part thereof which occurs during the Term of this Sublease, if any, Term) shall exceed the Taxes for the 2001/2002 tax year. Sublessee's Tax Payment shall be prorated. Notwithstanding calculated in accordance with the foregoingprovisions of Article 3 of the Prime Lease, Subtenant shall pay one (1) month’s installment of Fixed Rent with respect to the entire Sublease Premises (i.e. $295,868.00) upon the execution of this Sublease, which installment of Fixed Rent shall be credited against the installments of Fixed Rent first due after the Rent Commencement Date.
(d) All sums of money, other than Fixed Rent, as shall become due and payable by Subtenant to Sublandlord under this Sublease, except that Sublessee's proportionate share shall be deemed to be “Additional Rent”; and Sublandlord shall have the same rights and remedies in the event of nonpayment of Additional Rent as are available to Sublandlord for the nonpayment of Fixed Rent.5357%. Any Additional Rent payable on account of items, services or facilities other than Escalation Rent which are not payable monthly by Sublandlord to Landlord under the Lease Sublessee's Tax Payment shall be paid by Subtenant to Sublandlord on or before the thirtieth (30th) day next following the rendering of an invoice therefor (unless a different time for payment is elsewhere stated herein). Sublandlord agrees to provide Subtenant with copies of any statements or invoices received by Sublandlord from Landlord pursuant to the terms of the Lease that relate wholly, or in part, to the Sublease Premises, and which are the obligation (in whole or in part) of the Subtenant under this Lease. Except as otherwise expressly provided in this Sublease, Subtenant shall pay all non-recurring items of Additional Rent and the same shall be due Sublessor within thirty (30) days after notice receipt of an invoice therefor, which shall be accompanied by Sublandlorda copy of the tax xxxx.
(d) In addition to, and not in lieu of, the fixed rent payable above, Sublessee shall pay (such payment herein referred to as "Sublessee's Operating Payment") to Sublessor as additional rent, Sublessee's proportionate share of the amount by which Operating Expenses (as defined in the Prime Lease) for the calendar year in question (any part of which shall occur during the Term, but only as to such part thereof which occurs during the Term) shall exceed Operating Expenses for the 2001 calendar year. Sublessee's Operating Payment shall be calculated in accordance with the provisions of Article 3 of the Prime Lease, except that Sublessee's proportionate share shall be deemed to be .5595%. Sublessee's Operating Payment shall be paid to Sublessor within thirty (30) days after receipt of an invoice therefor.
(e) All Fixed RentExcept as otherwise provided for herein, Escalation Rent in addition to fixed rent, Sublessee shall pay to Sublessor, as additional rent (i) all additional rent which Sublessor is obligated to pay under the Prime Lease as a result of services requested by Sublessee which are in addition to those services which Prime Lessor is required to provide under the Prime Lease without additional charge and (ii) all Additional Rent fees, charges and other sums payable hereunder by Subtenant shall be paid without any deductionamounts, offsetif any, abatement, defense and/or counterclaim whatsoever except as hereinafter specifically provided required under the terms of the Prime Lease to the contrary. All Fixed Rent, Escalation Rent shall be paid by a wire transfer Sublessor to Prime Lessor on account of immediately available funds made directly any (x) act, omission or use of the Subleased Premises, and/or (y) default by Sublessee under this Sublease or the Prime Lease. Sublessee's obligation to a bank account designated by Sublandlord in writing. Non-recurring items pay additional rent shall survive the expiration or other termination of Additional Rent, and all other sums payable hereunder, may be paid by good check payable to the order of SublandlordTerm.
(f) If payment of any Fixed Rent or Additional Rent All fixed rent, additional rent and other charges payable by Sublessee pursuant to this Sublease shall not have been be paid within five (5) days in lawful money of the date on United States of America, without any deduction, set-off or abatement whatsoever, except as may hereinafter be specifically provided.
(g) All costs and expenses and other amounts which such amount was due and payable hereunderSublessee agrees to pay, Subtenant shall pay: (i) a late charge equal to 3% of the amount so due and owing; plus (ii) interest on the overdue amount at the Prime Rate from the date such overdue amount was due until the date of payment thereof, which amounts shall be added pursuant to the sum(s) due and provisions of this Sublease, shall be deemed Additional Rent due hereunder. Nothing additional rent, and in this Section contained and no acceptance the event of late charges by Sublandlord shall be deemed to extend or change the time for payment of Fixed Rent or Additional Rent hereunder. Notwithstanding the foregoingnonpayment, on the first occasion in any calendar year in which a late charge shall be due and payable by Subtenant with respect to a late payment of Additional Rent, Subtenant shall not be obligated to pay such late charge unless Sublandlord Sublessor shall have first given Subtenant notice that such item the rights and remedies herein provided for in the case of Additional Rent is past due and Subtenant shall have failed to pay such sum within five (5) days after receipt nonpayment of such noticefixed rent.
Appears in 1 contract
Samples: Sublease (Princeton Video Image Inc)
Fixed Rent; Additional Rent. (a) Subtenant covenants and agrees to Sublessee shall pay to Sublandlord during Sublessor as Fixed Rent, an amount equal to "Sublessee's Pro Rata Share" (hereby defined as being _____%, which represents the decimal equivalent of a fraction the numerator of which is the agreed-upon rentable square footage of the Subleased Premises, and throughout the Term denominator of this Subleasewhich is the rentable square footage of the Prime Lease Premises, Fixed Rent at the following rates:
and which Sublessee's Pro Rata Share shall be subject to adjustment (i) Subtenant shall pay Fixed Rent with respect as and when required pursuant to the 40th Floor Premisesprovisions hereof) of the annual [fixed] rent payable during corresponding periods under the Prime Lease. Currently, the [fixed] rent payable under the Prime Lease is at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00) _____ per annum, payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 40th Floor Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date; and
(ii) Subtenant shall pay Sublessee's Pro Rata Share thereof to be paid as Fixed Rent with respect to the 39th Floor Premises, hereunder is at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars $_____ per annum ($1,775,208.00) _____ per annummonth). In the event, however, that the rentable square footage of the Subleased Premises shall change, or the [fixed] rent payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) from time to time under the Prime Lease shall change during the period commencing at 12:00 a.m. on Term hereof (e.g., either pursuant to specific provisions of the 39th Floor Premises Prime Lease or because Sublessor has leased additional space or ceased (because of either temporary or permanent condemnation, damage or destruction or other event, which cessation shall be accomplished in a manner that does not distort or adversely prejudice sums payable by Sublessee hereunder) leasing space which formed part of the Prime Lease Premises), Sublessee's Pro Rata Share (and the Fixed Rent Commencement Date and ending at 11:59 p.m. on payable by Sublessee hereunder) shall be adjusted accordingly, effective as of the Expiration Datedate of such change, notification of which shall be promptly given by Sublessor to Sublessee.
(b) The parties agree to execute within ten (10) business days of each of the 40th Floor Commencement Date and the 39th Floor Commencement Date, or upon the delivery of the entire Sublease Premises to Subtenant, an amendment to this Sublease confirming the date when each Commencement Date and All Fixed Rent Commencement Date occurred (and, if applicable, the date when any credit under Section 2(d) of this Sublease shall be exhausted).
(c) Subtenant shall pay Fixed Rentpaid [insert same provisions as exist in Prime Lease with respect to timing of payment of fixed rent thereunder, e.g., in equal monthly installments in advance, by wire transfer to an account designated by Sublandlord, advance on the first day of each and every calendar month during of the Term hereof or such other manner of payment as provided in the Prime Lease], commencing on the Commencement Date hereof; provided, however, that if the Commencement Date (or if the date on which the Term of this SubleaseSublease shall expire or sooner terminate) shall be other than the first day (or last day) of a [calendar month or applicable period], then Sublessee shall pay prorated Fixed Rent for such [partial calendar month or applicable period] occurring within the Term hereof. The monthly installment All rent payments (of Fixed Rent and additional rent, hereinafter referred to) shall be payable to and delivered to _____, or such other place as Sublessor may designate by 30 days' prior written notice to Sublessee.
(c) In addition to Sublessee's Pro Rata Share of those items otherwise addressed in this Sublease (e.g., [any real estate taxes, operating expenses, air conditioning charges, condenser water charges, electricity charges], as such terms are defined in the Prime Lease), Sublessee shall pay to Sublessor, as additional rent, (i) Sublessee's Pro Rata Share of all additional rent payable by Sublessor under the Prime Lease, to the extent allocable to the portion of the Prime Lease Premises constituting the Subleased Premises (excluding therefrom, however, all such additional rent to the extent payable by reason of any breach by Sublessor of, or Sublessor's failure to timely perform or observe, Sublessor's obligations as Tenant under the Prime Lease other than those which Sublessee is required to perform hereunder), (ii) all fees, charges and other amounts, if any, required under the terms of the Prime Lease to be paid (and paid) by Sublessor to Landlord on account of any partial calendar month during default by Sublessee under this Sublease or the Term of this SubleasePrime Lease, and (iii) all fees, charges and other amounts, if any, shall be prorated. Notwithstanding the foregoingassessed by Landlord, Subtenant shall pay one (1) month’s installment of Fixed Rent with respect pursuant to the entire Sublease Premises terms of the Prime Lease, against (i.e. $295,868.00and paid by) upon Sublessor (as lessee under the execution Prime Lease) on account of this Subleaseand as a direct and sole result of any equipment or operations of Sublessee or its sublessees or licensees within the Building (excluding utility charges and any other charges, which installment of Fixed Rent shall be credited against the installments of Fixed Rent first due after the Rent Commencement Dateare separately addressed herein).
(d) All sums of money, other than Fixed Rent, as shall become due additional rent and other charges payable by Subtenant Sublessee pursuant to Sublandlord under this Sublease shall be paid in lawful money of the United States of America, without any deduction, set-off or abatement whatsoever, except as may hereinafter be specifically provided.
(e) All costs and expenses and other amounts which Sublessee agrees to pay, pursuant to the provisions of this Sublease, shall be deemed to be “Additional Rent”; additional rent, and Sublandlord shall have the same rights and remedies in the event of nonpayment nonpayment, Sublessor shall have the rights and remedies herein provided for in the case of Additional Rent as are available to Sublandlord for the nonpayment of Fixed Rent. Any Additional Rent payable on account of items, services or facilities other than Escalation Rent which are not payable monthly required by Sublandlord to Landlord under the Lease shall be paid by Subtenant to Sublandlord on or before the thirtieth (30th) day next following the rendering of an invoice therefor (unless a different time for payment is elsewhere stated herein). Sublandlord agrees to provide Subtenant with copies of any statements or invoices received by Sublandlord from Landlord pursuant to the terms of the Lease that relate wholly, or in part, to the Sublease Premises, and which are the obligation (in whole or in part) of the Subtenant under this Prime Lease. Except as otherwise expressly provided in this Sublease, Subtenant shall pay all non-recurring items of Additional Rent and the same shall be due within thirty (30) days after notice by Sublandlord[THE ABOVE WILL BE MODIFIED AS REQUIRED BY THE PRIME LEASE.
(e) All Fixed Rent, Escalation Rent and all Additional Rent and other sums payable hereunder by Subtenant shall be paid without any deduction, offset, abatement, defense and/or counterclaim whatsoever except as hereinafter specifically provided to the contrary. All Fixed Rent, Escalation Rent shall be paid by a wire transfer of immediately available funds made directly to a bank account designated by Sublandlord in writing. Non-recurring items of Additional Rent, and all other sums payable hereunder, may be paid by good check payable to the order of Sublandlord.]
(f) If payment Sublessor shall receive from Landlord a refund or credit adjustment to subsequent payments of rent or additional rent payable under the Prime lease on account of any Fixed Rent rent or Additional Rent shall not have been paid within five (5) days of the date on which such amount was due and payable hereunder, Subtenant shall pay: (i) a late charge equal to 3% of the amount so due and owing; plus (ii) interest on the overdue amount at additional rent under the Prime Rate from the date such overdue amount was due until the date of payment thereofLease paid by Sublessor for which Sublessee has paid any rent or additional rent under this Sublease, which amounts Sublessor shall be added to the sum(s) due and shall be deemed Additional Rent due hereunder. Nothing in this Section contained and no acceptance of late charges by Sublandlord shall be deemed to extend or change the time for payment of Fixed Rent or Additional Rent hereunder. Notwithstanding the foregoing, on the first occasion in any calendar year in which a late charge shall be due and payable by Subtenant with respect to a late payment of Additional Rent, Subtenant shall (not be obligated to pay such late charge unless Sublandlord shall have first given Subtenant notice that such item of Additional Rent is past due and Subtenant shall have failed to pay such sum within five (5) later than 30 days after receipt of such noticerefund or credit from Landlord) notify Sublessee thereof, and the refund or credit adjustment so received by Sublessor under the Prime Lease shall be equitably apportioned (on a per diem basis) and allocated to the periods for which the refund or credit under the Prime Lease applies; and if Sublessee has paid rent or additional rent under this Sublease allocable to the rent or additional rent under the Prime Lease and the Period(s) to which the refund or credit under the Prime Lease applies, then Sublessor shall (not later than 30 days after receipt of such refund or credit from Landlord) make an appropriate refund (or, if fixed rent or additional rent remains to be paid under this Sublease, at Sublessor's election, a rent credit against the fixed rent and additional rent next becoming due under this Sublease). Upon Sublessee's request made from time to time, Sublessor shall afford Sublessee the right to inspect and make copies of Sublessor's pertinent records relating to rent and additional rent paid by Sublessor under the Prime Lease, based on which Sublessee was billed and paid Fixed Rent and additional rent hereunder, and to receive a refund or credit as provided above if any audit discloses that Sublessor overcharged Sublessee for such rent or additional rent, or failed to remit to Sublessee a refund or credit as provided above. Further, in the event Sublessor shall receive from Landlord an abatement of rent or additional rent payable pursuant to the Prime Lease, such abatement to the extent allocable to the Subleased Premises shall be afforded Sublessee with respect to Fixed Rent and additional rent payable hereunder by Sublessee for the corresponding period(s) of the abatement. The provisions of this paragraph shall survive the expiration or termination of this Sublease.
(g) THE PROVISIONS OF THIS SUBPARAGRAPH (g) ARE PERSONAL TO THE NAMED SUBLESSEE AND ITS AFFILIATES, WHICH SHALL SUCCEED TO SUBLESSEE'S INTEREST HEREUNDER. IN THE EVENT THE SERVICE LEVEL AGREEMENT AND/OR THE TRANSITION SERVICES AGREEMENT (AS SUCH TERMS ARE DEFINED IN THE ROLLUP AGREEMENT, HEREINAFTER, COLLECTIVELY, THE "AGREEMENTS") PROVIDE THAT SUBLESSOR IS REQUIRED TO PROVIDE SPECIFIED SERVICES TO THE SUBLEASED PREMISES ("AGREEMENTS' SERVICES") TO THE SUBLEASED PREMISES (OVER AND ABOVE THOSE PROVIDED BY THE LANDLORD OR SPECIFICALLY PROVIDED HEREIN TO BE PROVIDED BY SUBLESSOR) WITH PAYMENT THEREFOR TO BE MADE BY SUBLESSEE IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENTS, NO CHARGE FOR SUCH AGREEMENTS' SERVICES SHALL BE MADE PURSUANT TO THIS SUBLEASE (WHETHER AS PART OF THE FIXED RENT OR ADDITIONAL RENT PAYABLE HEREUNDER OR OTHERWISE). (IT IS THE INTENTION OF THE PARTIES THAT THERE SHALL BE NO "DOUBLE BILLING" FOR SERVICES PROVIDED PURSUANT TO THIS SUBLEASE, AND THE AGREEMENTS' SERVICES PROVIDED PURSUANT TO THE SERVICE LEVEL AGREEMENT OR THE MASTER TRANSITION SERVICES AGREEMENT.) [SEE PAGES FOLLOWING THE SIGNATURE PAGE HEREOF FOR EXAMPLES OF REAL ESTATE TAXES, OPERATING EXPENSES, AIR CONDITIONING, CONDENSER WATER CHARGE AND ELECTRICITY PARAGRAPHS WHICH MAY BE ADAPTED TO REFLECT PRIME LEASE PROVISIONS.]
Appears in 1 contract
Samples: Sublease (PWCC LTD)
Fixed Rent; Additional Rent. (a) Subtenant Tenant covenants and agrees to pay to Sublandlord Landlord during and throughout the Term of this Sublease, sublease Fixed Rent at the following rates:
(i) Subtenant shall pay Fixed Rent with respect to the 40th Floor Premises, at the rate of One Million Two Hundred Seventy-Three Thousand Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00273,775.00) per annum, annum for each year (pro rated for any portion thereof) of the period from the Sublet Space Commencement Date to and including the Expiration Date payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 40th Floor Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date; and
(ii) Subtenant 22,814.58. Tenant shall pay the first month's Fixed Rent with respect to the 39th Floor Premises, at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00) per annum, payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 39th Floor Premises Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date.
(b) due upon signing. The parties agree to execute within ten (10) business days of each of the 40th Floor Sublet Space Commencement Date and the 39th Floor Commencement Date, or upon the delivery of the entire Sublease Premises to Subtenant, an amendment to this Sublease Lease confirming the date when each the Sublet Space Commencement Date and Rent Commencement Date occurred (and, if applicable, the date when any credit under Section 2(d) of this Sublease shall be exhausted)occurred.
(cb) Subtenant Tenant shall pay Fixed Rent, Rent in equal monthly installments in advance, by wire transfer on the fifth (5th) business day prior to an account designated by Sublandlord, on the first day of each calendar month during the Term of this Subleasesublease. The monthly installment of Fixed Rent payable on account of any partial calendar month during the Term of this Subleasesublease, if any, shall be prorated. Notwithstanding the foregoing, Subtenant shall pay one (1) month’s installment of Fixed Rent with respect to the entire Sublease Premises (i.e. $295,868.00) upon the execution of this Sublease, which installment of Fixed Rent shall be credited against the installments of Fixed Rent first due after the Rent Commencement Date.
(dc) All sums of money, other than Fixed Rent, as shall become due and payable by Subtenant Tenant to Sublandlord Landlord under this Subleasesublease, shall be deemed to be “Additional Rent”; additional rent, and Sublandlord Landlord shall have the same rights and remedies in the event of nonpayment non-payment of Additional Rent additional rent as are available to Sublandlord Landlord for the nonpayment non-payment of Fixed Rent. Any Additional Rent payable on account of itemsshall include, services or facilities other than but not be limited to, all Escalation Rent and all other costs, fees, expenses and charges due from and payable by Landlord to Prime Lessor which are not payable monthly by Sublandlord to Landlord under the Lease shall be paid by Subtenant to Sublandlord on or before the thirtieth (30th) day next following the rendering of an invoice therefor (unless a different time for payment is elsewhere stated herein). Sublandlord agrees to provide Subtenant with copies of any statements or invoices received by Sublandlord from Landlord pursuant to the terms of the Lease that relate whollyattributable to, or in partarise with respect to, to the Sublease PremisesSublet Space. Unless otherwise specified, and which are the obligation (in whole or in part) of the Subtenant under this Lease. Except as otherwise expressly provided in this Sublease, Subtenant Tenant shall pay all non-recurring items of Additional Rent and the same shall be due within thirty (30) days after notice by SublandlordLandlord.
(ed) All Fixed Rent, Escalation Rent and all Additional Rent additional rent and other sums payable hereunder by Subtenant Tenant shall be paid without any deduction, offset, abatement, defense and/or counterclaim whatsoever except as hereinafter specifically provided to the contrarywhatsoever. All Fixed Rent, Escalation Rent and all additional rent and other sums payable hereunder shall be paid by a wire transfer of immediately available funds made directly to check, drawn on Silicon Valley Bank, or upon a bank account designated by Sublandlord in writing. Non-recurring items which is a member of Additional Rentthe New York Clearing House or any successor thereto, and all other sums payable hereunderissued directly from Tenant, may be paid by good check payable without endorsements, to the order of SublandlordLandlord or such other party as Landlord may designate in writing.
(f) If payment of any Fixed Rent or Additional Rent shall not have been paid within five (5) days of the date on which such amount was due and payable hereunder, Subtenant shall pay: (i) a late charge equal to 3% of the amount so due and owing; plus (ii) interest on the overdue amount at the Prime Rate from the date such overdue amount was due until the date of payment thereof, which amounts shall be added to the sum(s) due and shall be deemed Additional Rent due hereunder. Nothing in this Section contained and no acceptance of late charges by Sublandlord shall be deemed to extend or change the time for payment of Fixed Rent or Additional Rent hereunder. Notwithstanding the foregoing, on the first occasion in any calendar year in which a late charge shall be due and payable by Subtenant with respect to a late payment of Additional Rent, Subtenant shall not be obligated to pay such late charge unless Sublandlord shall have first given Subtenant notice that such item of Additional Rent is past due and Subtenant shall have failed to pay such sum within five (5) days after receipt of such notice.
Appears in 1 contract
Samples: Sublease Agreement (Pxre Group LTD)
Fixed Rent; Additional Rent. (a) Subtenant covenants and Tenant agrees to pay to Sublandlord during and throughout the Term of this Sublease, Landlord fixed rent ("Fixed Rent Rent") at the following rates:
(i) Subtenant shall pay Fixed Rent with respect to the 40th Floor Premises, at the annual rate of One Million Five Hundred Thirty-Nine Thousand Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00539,700.00) per annum, payable in equal monthly installments of One Hundred Forty-Seven Four Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 40th Floor Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date; and
(ii) Subtenant shall pay Fixed Rent with respect to the 39th Floor Premises, at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.0044,975.00) per annum, payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during for the period commencing at 12:00 a.m. on from the 39th Floor Premises Rent Commencement Date and ending at 11:59 p.m. on through the Expiration Date.
(b) The parties agree to execute within ten (10) business days of each expiration of the 40th Floor Commencement Date and the 39th Floor Commencement Date, or upon the delivery of the entire Sublease Premises to Subtenant, an amendment to this Sublease confirming the date when each Commencement Date and Rent Commencement Date occurred (and, if applicable, the date when any credit under Section 2(d) of this Sublease shall be exhausted).
(c) Subtenant shall pay Fixed Rent, Term in equal monthly installments in advance, by wire transfer to an account designated by Sublandlord, advance on the first day of each and every calendar month during month.
(b) Notwithstanding anything contained herein to the Term contrary, provided Tenant shall not be in default beyond applicable grace and notice periods of its obligations under this Sublease. The monthly installment Lease, Tenant shall be entitled to an abatement of the Fixed Rent payable on account hereunder for a period of any partial calendar month during eighteen (18) months (the Term of this Sublease, if any, shall be prorated. Notwithstanding the foregoing, Subtenant shall pay one (1"Abatement Period") month’s installment of Fixed Rent with respect to the entire Sublease Premises (i.e. $295,868.00) upon the execution of this Sublease, which installment of Fixed Rent shall be credited against the installments of Fixed Rent first due after the Rent Commencement Date.
(dc) All The entire Fixed Rent otherwise due and payable for the Abatement Period shall become immediately due and payable upon the occurrence of a default beyond applicable grace and notice periods by Tenant under this Lease.
3.2. If the Commencement Date falls on any day other than the first day of a calendar month, the installment of Fixed Rent for such calendar month shall be prorated on a per diem basis, which Tenant shall pay on the Commencement Date. Tenant has paid one full month's installment of Fixed Rent to Landlord upon execution of this Lease.
3.3. Tenant agrees to pay as additional rent ("Additional Rent") all sums of money, costs, expenses, charges, interest, or fees (including all Fees-And-Costs) of every kind or amount whatsoever, other than Fixed Rent, as shall which Tenant has assumed or agreed to pay to Landlord, or which otherwise may become due and payable by Subtenant to Sublandlord under this SubleaseTenant, shall be deemed to be “Additional Rent”; and Sublandlord shall have the same rights and remedies in the event of nonpayment of Additional Rent as are available to Sublandlord for the nonpayment of Fixed Rent. Any Additional Rent payable on account of items, services or facilities other than Escalation Rent which are not payable monthly by Sublandlord to Landlord under the Lease shall be paid by Subtenant to Sublandlord on or before the thirtieth (30th) day next following the rendering of an invoice therefor (unless a different time for payment is elsewhere stated herein). Sublandlord agrees to provide Subtenant with copies of any statements or invoices received by Sublandlord from Landlord pursuant to the terms of the Lease that relate wholly, or in part, to the Sublease Premises, and which are the obligation (in whole or in part) of the Subtenant under this Lease. Except as Unless otherwise expressly provided in this Subleasespecified, Subtenant Tenant shall pay all non-recurring items of Additional Rent and the same shall be due within thirty (30) days after notice by Sublandlord.
(e) All Fixed Rent, Escalation Rent and all Additional Rent and other sums payable hereunder by Subtenant shall be paid without any deduction, offset, abatement, defense and/or counterclaim whatsoever except as hereinafter specifically provided to the contrary. All Fixed Rent, Escalation Rent shall be paid by a wire transfer of immediately available funds made directly to a bank account designated by Sublandlord in writing. Non-recurring items of Additional Rent, and all other sums payable hereunder, may be paid by good check payable to the order of Sublandlord.
(f) If payment of any Fixed Rent or Additional Rent shall not have been paid within five (5) days of the date on which such amount was due and payable hereunder, Subtenant shall pay: (i) a late charge equal to 3% of the amount so due and owing; plus (ii) interest on the overdue amount at the Prime Rate from the date such overdue amount was due until the date of payment thereof, which amounts shall be added to the sum(s) due and shall be deemed Additional Rent due hereunder. Nothing in this Section contained and no acceptance of late charges by Sublandlord shall be deemed to extend or change the time for payment of Fixed Rent or Additional Rent hereunder. Notwithstanding the foregoing, on the first occasion in any calendar year in which a late charge shall be due and payable by Subtenant with respect to a late payment of Additional Rent, Subtenant shall not be obligated to pay such late charge unless Sublandlord shall have first given Subtenant notice that such item of Additional Rent is past due and Subtenant shall have failed to pay such sum within five (5) days after receipt Landlord's demand. Landlord shall have the same rights (and remedies) to terminate this Lease and/or to recover possession of the Premises for Tenant's failure to pay Additional Rent as for Tenant's failure to pay Fixed Rent.
3.4. Tenant shall pay Fixed Rent and all Additional Rent in lawful money of the United States by unendorsed check drawn to Landlord's order on a bank or financial institution which is a member of the New York Clearinghouse Association in the City.
3.5. Tenant shall pay all Rents due Landlord at the office of Landlord at c/o M.S. Management Associates, Inc., Xxx Xxxxxxxx Xxxxx, X.X. Xxx 0000, Xxxxxxxxxxxx, Xxxxxxx 00000, or at such noticeother place as Landlord may designate by notice to Tenant from time to time.
3.6. Tenant shall pay all Fixed Rent and Additional Rent promptly when due and payable, without notice or demand, and without offset, deduction, credit, abatement, or counterclaim of any kind or for any reason whatsoever (unless, however, specifically permitted elsewhere in this Lease).
3.7. If Tenant fails to pay any installment of Fixed Rent or any amount of Additional Rent for more than ten (10) days after the same is due, Tenant shall pay interest thereof at the Interest Rate from the date when due through the date of payment.
Appears in 1 contract
Samples: Lease Agreement (Happy Kids Inc)
Fixed Rent; Additional Rent. (a) Subtenant covenants and agrees to pay to Sublandlord during and throughout the Term of this Sublease, Sublease Fixed Rent at the following rates:
(i) Subtenant shall pay Fixed Rent with respect to the 40th Floor Premises, at the rate of One Million Seven Hundred SeventyNinety-Five One Thousand Two Four Hundred Eight and 00/100 No/100 Dollars ($1,775,208.00191,400.00) per annum, annum for each year (pro rated for any portion thereof) for the period from the Sublet Space Commencement Date to and including the Expiration Date payable in equal monthly installments of One Fifteen Thousand Nine-Hundred Forty-Seven Thousand Nine Hundred Thirty-Four Fifty and 00/100 No/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 40th Floor Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date; and
(ii) 15,950). Subtenant shall pay the first month's Fixed Rent with respect upon execution of this Sublease. Notwithstanding the foregoing, as an inducement to Subtenant to enter into this Sublease, Sublandlord agrees that payments of Fixed Rent shall be abated for the 39th Floor Premisesfirst five months of the Term of this Sublease, at such that the rate first payment of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00) per annummonthly Fixed Rent shall be due, payable in equal monthly installments advance, for the month of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 39th Floor Premises Rent Commencement Date and ending at 11:59 p.m. on the Expiration DateOctober 2005.
(b) The parties agree to execute within ten (10) business days Payments of each of the 40th Floor Commencement Date Fixed Rent and the 39th Floor Commencement Date, or upon the delivery of the entire Sublease Premises to Subtenant, an amendment to this Sublease confirming the date when each Commencement Date and Additional Rent Commencement Date occurred (and, if applicable, the date when any credit under Section 2(d) of this Sublease shall be exhausted).
(c) Subtenant shall pay Fixed Rent, due and payable in equal monthly installments installments, in advance, by wire transfer to an account designated by Sublandlord, on the first day of each and every calendar month during the Term of this Sublease. Payments of Fixed Rent and Additional Rent, or any portion thereof, which have not been received by Sublandlord by the fifth day of a calendar month will be subject to a late charge equal to five percent (5%) of the unpaid payment or $100, whichever is greater, as compensation for Sublandlord’s cost of processing late payments. In addition, any payment not received by the fifth day of a calendar month will accrue interest at the same rate of interest provided for in the Prime Lease from the first day of the calendar month for which such payment was due until the date on which it is paid with accrued interest. The monthly installment of Fixed Rent and Additional Rent payable on account of any partial calendar month during the Term of this Sublease, if any, shall be prorated. Notwithstanding the foregoing, Subtenant shall pay one (1) month’s installment of Fixed Rent with respect to the entire Sublease Premises (i.e. $295,868.00) upon the execution of this Sublease, which installment of Fixed Rent shall be credited against the installments of Fixed Rent first due after the Rent Commencement Date.
(dc) All sums of money, other than Fixed Rent, as shall become due and payable by Subtenant to Sublandlord under this Sublease, shall be deemed to be additional rent (“Additional Rent”; ), and Sublandlord shall have the same rights and remedies in the event of nonpayment non-payment of Additional Rent as are available to Sublandlord for the nonpayment non-payment of Fixed Rent. Any Additional Rent payable on account of itemsshall include, services or facilities other than but not be limited to, all Escalation Rent which are not (hereinafter defined in Section 4) and all other costs, fees, expenses and charges due from and payable monthly by Sublandlord to Landlord under the Lease shall be paid by Subtenant to Sublandlord on or before the thirtieth (30th) day next following the rendering of an invoice therefor (unless a different time for payment is elsewhere stated herein). Sublandlord agrees to provide Subtenant with copies of any statements or invoices received by Sublandlord from Landlord pursuant to the terms of the Lease that relate whollyPrime Lessor which are attributable to, or in partarise with respect to, to the Sublease Premises, and which are the obligation (in whole or in part) of the Subtenant under this LeaseSublet Space. Except as Unless otherwise expressly provided in this Subleasespecified, Subtenant shall pay all non-recurring items of Additional Rent and the same shall be due within thirty (30) days after notice by Sublandlord.
(ed) All Fixed Rent, Escalation Rent and all Additional Rent and other sums Rent, including Escalation Rent, payable hereunder by Subtenant shall be paid without any deduction, offset, abatement, defense and/or counterclaim whatsoever except at the address of Sublandlord set forth herein or at such other address as hereinafter specifically provided to the contrarySublandlord may direct. All Fixed Rent and all Additional Rent, including Escalation Rent Rent, payable hereunder shall be paid by a wire transfer of immediately available funds made directly to check, drawn on a bank account designated which is a member of the New York Clearing House or any successor thereto, issued directly by Sublandlord in writing. Non-recurring items of Additional RentSubtenant, and all other sums payable hereunderwithout endorsements, may be paid by good check payable to the order of SublandlordSublandlord or to such other party as Sublandlord may designate in writing.
(f) If payment of any Fixed Rent or Additional Rent shall not have been paid within five (5) days of the date on which such amount was due and payable hereunder, Subtenant shall pay: (i) a late charge equal to 3% of the amount so due and owing; plus (ii) interest on the overdue amount at the Prime Rate from the date such overdue amount was due until the date of payment thereof, which amounts shall be added to the sum(s) due and shall be deemed Additional Rent due hereunder. Nothing in this Section contained and no acceptance of late charges by Sublandlord shall be deemed to extend or change the time for payment of Fixed Rent or Additional Rent hereunder. Notwithstanding the foregoing, on the first occasion in any calendar year in which a late charge shall be due and payable by Subtenant with respect to a late payment of Additional Rent, Subtenant shall not be obligated to pay such late charge unless Sublandlord shall have first given Subtenant notice that such item of Additional Rent is past due and Subtenant shall have failed to pay such sum within five (5) days after receipt of such notice.
Appears in 1 contract
Samples: Sublease (Pxre Group LTD)
Fixed Rent; Additional Rent. (a) Subtenant 2.1. Tenant covenants and agrees to pay annual fixed rent to Sublandlord Landlord in the following amounts: (a) during the Initial Term, Five Hundred Thousand Dollars ($500,000) per annum and throughout (b) during the Term Renewal Term, if any, Six Hundred Thousand Dollars ($600,000) per annum (such rentals are hereinafter referred to as the "Fixed Rent") as more fully set forth in Section 2.2 below.
(a) The provisions of Section 2.1 (including, without limitation, the stipulated amounts of Fixed Rent) shall be subject to the provisions of this Sublease, Fixed Rent at the following rates:Section 2.2.
(i) Subtenant shall pay During the first Lease Year, Fixed Rent with respect shall be payable (1) $150,000 upon date hereof, (2) $175,000 on December 22, 1999 and (3) on March 22, 2000, the entire unpaid balance (if any) of the Fixed Rent for such Lease Year (the "First Year Balance"). Anything in this lease to the 40th Floor Premisescontrary notwithstanding, at if the rate aggregate of One Million Seven the M&S Payments (hereafter defined) actually paid to and received by Tenant during the first Lease Year (the "Aggregate First Year M&S Payments") shall not equal Six Hundred Seventy-Five Fifty Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00) per annum650,000.00), payable in equal monthly installments of One for any reason other than Tenant's failure to perform, then the amount by which the Aggregate First Year M&S Payments shall be less than Six Hundred Forty-Seven Fifty Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00650,000.00) during (the period commencing at 12:00 a.m. on the 40th Floor Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date; and
(ii) Subtenant shall pay Fixed Rent with respect to the 39th Floor Premises"First Year M&S Deficiency"), at the rate of One Million Seven Hundred Seventy-Five Thousand Two Hundred Eight and 00/100 Dollars ($1,775,208.00) per annum, payable in equal monthly installments of One Hundred Forty-Seven Thousand Nine Hundred Thirty-Four and 00/100 Dollars ($147,934.00) during the period commencing at 12:00 a.m. on the 39th Floor Premises Rent Commencement Date and ending at 11:59 p.m. on the Expiration Date.
(b) The parties agree to execute within ten (10) business days of each of the 40th Floor Commencement Date and the 39th Floor Commencement Date, or upon the delivery of the entire Sublease Premises to Subtenant, an amendment to this Sublease confirming the date when each Commencement Date and Rent Commencement Date occurred (and, if applicable, the date when any credit under Section 2(d) of this Sublease shall be exhausted).
(c) Subtenant shall pay Fixed Rent, in equal monthly installments in advance, by wire transfer to an account designated by Sublandlord, on the first day of each calendar month during the Term of this Sublease. The monthly installment of Fixed Rent payable on account of any partial calendar month during the Term of this Sublease, if any, shall be prorated. Notwithstanding the foregoing, Subtenant shall pay one (1) month’s installment of Fixed Rent with respect to the entire Sublease Premises (i.e. $295,868.00) upon the execution of this Sublease, which installment of Fixed Rent shall be credited against the installments of First Year Balance, if any, and if the aggregate First Year M&S Deficiency shall exceed the First Year Balance, such excess shall be credited against Fixed Rent first and additional rent in subsequent Lease Years, as such amounts come due after under this lease; provided, however, that in the Rent Commencement Dateevent that this lease shall terminate, any portion of the First Year M&S Deficiency which shall be in excess of amounts then due and to become due to Landlord hereunder, shall be promptly paid to Tenant.
(dii) All sums of moneyDuring the second Lease Year, other than Fixed Rent, as shall become due and payable by Subtenant to Sublandlord under this Sublease, shall be deemed to be “Additional Rent”; and Sublandlord shall have the same rights and remedies in the event of nonpayment of Additional Rent as are available to Sublandlord for the nonpayment of Fixed Rent. Any Additional Rent payable on account of items, services or facilities other than Escalation Rent which are not payable monthly by Sublandlord to Landlord under the Lease shall be paid by Subtenant to Sublandlord on or before the thirtieth (30th) day next following the rendering of an invoice therefor (unless a different time for payment is elsewhere stated herein). Sublandlord agrees to provide Subtenant with copies of any statements or invoices received by Sublandlord from Landlord pursuant to the terms of the Lease that relate wholly, or in part, to the Sublease Premises, and which are the obligation (in whole or in part) of the Subtenant under this Lease. Except as otherwise expressly provided in this Sublease, Subtenant shall pay all non-recurring items of Additional Rent and the same shall be due within thirty (30) days after notice by Sublandlord.
(e) All Fixed Rent, Escalation Rent and all Additional Rent and other sums payable hereunder by Subtenant shall be paid without any deduction, offset, abatement, defense and/or counterclaim whatsoever except as hereinafter specifically provided to the contrary. All Fixed Rent, Escalation Rent shall be paid by a wire transfer of immediately available funds made directly to a bank account designated by Sublandlord in writing. Non-recurring items of Additional Rentpayable as follows: (1) commencing on April 22, 2000, and all other sums payable hereundercontinuing on the same day of each month thereafter until the earlier of payment in full of fifty (50%) percent of the Fixed Rent for such Lease Year or September 22, may be paid by good check payable 2000, an amount equal to the order Monthly Installment Amount (as defined below) and (2) on September 22, 2000, the entire unpaid balance (if any) of Sublandlord.
fifty (f50%) If payment percent of any the Fixed Rent or Additional Rent shall not have been paid within five for such Lease Year (5) days the "Second Year Balance"). Anything in this lease to the contrary notwithstanding, if the aggregate of the date on which such amount was due M&S Payments actually paid to and payable hereunderreceived by Tenant during the six month period immediately prior to September 22, Subtenant shall pay: 2000 (i) a late charge equal to 3% of the amount so due and owing; plus (ii) interest on the overdue amount at the Prime Rate from the date such overdue amount was due until the date of payment thereof, which amounts shall be added to the sum(s) due and shall be deemed Additional Rent due hereunder. Nothing in this Section contained and no acceptance of late charges by Sublandlord shall be deemed to extend or change the time for payment of Fixed Rent or Additional Rent hereunder. Notwithstanding the foregoing, on the first occasion in any calendar year in which a late charge shall be due and payable by Subtenant with respect to a late payment of Additional Rent, Subtenant shall not be obligated to pay such late charge unless Sublandlord shall have first given Subtenant notice that such item of Additional Rent is past due and Subtenant shall have failed to pay such sum within five (5) days after receipt of such notice."Aggregate
Appears in 1 contract