Common use of Fixed Rent Clause in Contracts

Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 5 contracts

Sources: Lease Agreement (Savvis Communications Corp), Lease Agreement (Savvis Communications Corp), Lease Agreement (Savvis Communications Corp)

Fixed Rent. (a) Commencing as Tenant covenants and agrees to pay Fixed Rent in advance on the first (1st) day of each calendar month during the Term and without notice, demand, abatement, deduction, counterclaim, setoff, defense or otherwise, in lawful money of the Rent Commencement DateUnited States, to Landlord at Landlord’s Address for Notices throughout the Term of this Lease in accordance with the rent schedule on Exhibit “B” which is attached hereto and incorporated herein by reference. Tenant shall pay Fixed Rent to Landlord, or Landlordas Additional Rent, an amount equal to ▇▇▇▇▇▇’s designee as designated Share of expenses in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, excess of the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto amount of Expenses for the respective periods shown on such Schedule 2. Fixed Base Year, as follows: (a) Tenant covenants and agrees to pay, as Additional Rent shall be due and in equal monthly installments payable in advance on the first day of each calendar month (or if such first day is not a business daythroughout the term of this Lease, the first business day sum of each month$1.75 per rentable square foot per annum (i.e. $2,520 per annum) (the “Electricity Amount”), commencing on to compensate Landlord for the Date electrical wiring and other installations necessary for, and for its obtaining and redistribution of, electric current as an additional service. If the cost to Landlord of Rent Commencementelectricity shall have been, or shall be, increased subsequent to the date of this Lease, by change in Landlord’s electric rates, charges, fuel adjustment, or service classifications, or by taxes or charges of any kind imposed thereon, or for any other such reason, then the Electricity Amount shall be increased in the same percentage, but no higher than $2.50 per rentable square foot per annum during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding of the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) Within one hundred twenty (120) days after the end of each calendar year, Landlord shall endeavor to provide a statement (“Operating Statement”) to Tenant showing, in reasonable detail: (i) the amount Expenses for such calendar year, (ii) any payments of Estimated Additional Rent by Tenant during such calendar year, and (iii) any revision of the amount of Estimated Additional Rent for the then current calendar year. The failure of Landlord to timely submit an Operating Statement for any year shall not be a waiver of Landlord’s right to collect any Rent described under this Lease. If Landlord does not send an Operating Statement within three hundred sixty-five (365) days following the end of a calendar year, then Tenant shall not be liable for any underpayments for the prior calendar year (other than, with respect to Taxes, to the extent that the amount of Taxes is changed by a municipal taxing authority for any prior year, but in no event later than three hundred sixty-five (365) days following the expiration of the Term). (c) If an Operating Statement shows that Tenant’s actual Estimated Additional Rent payments were less than Tenant’s actual obligations for Tenant’s Share of Expenses for the applicable year, then Tenant shall pay the shortfall within thirty (30) days after ▇▇▇▇▇▇’s receipt of the Operating Statement. (d) If an Operating Statement shows an increase in the amount of Estimated Additional Rent for the current calendar year, Tenant shall: (i) pay the difference between the new and former estimates for the period from the date of the last adjustment of Estimated Additional Rent through the month in which the Operating Statement is dated, which payment shall be made within thirty (30) days after ▇▇▇▇▇▇’s receipt of the Operating Statement, and (ii) thereafter pay the new Estimated Additional Rent amount until any subsequent adjustment thereof. (e) If an Operating Statement shows that Tenant’s payments of Estimated Additional Rent exceeded Tenant’s actual obligations for Expenses, Landlord shall credit the excess against payment of Estimated Additional Rent next due. If the Term shall have expired and no further Rent shall be due or if the credit exceeds the amount of Estimated Additional Rent due for the remainder of the Term, Landlord shall provide a refund or a credit against unpaid Base Rent of such excess at the time Landlord sends the Operating Statement. (f) Landlord reserves the right to reasonably change or update the Estimated Additional Rent (based on Landlord’s reasonable analysis that the Estimated Additional Rent has changed), from time to time, the manner and timing of the computation of Additional Rent, provided that the timing of Tenant’s payments of Additional Rent shall not materially change. In lieu of providing one Operating Statement covering all items of Expenses, Landlord may provide separate statements, at the same or different times. (g) Concurrently with ▇▇▇▇▇▇’s execution of this Lease, Tenant shall pay to Landlord an amount equal to one (1) monthly installment of Fixed Rent payable under this Lease for the first full calendar month of the Lease Term. (h) If the Lease Commencement Date or Rent Commencement Date shall be on any is a day other than the first day of a calendar month, then all amounts to be paid on such dates the Fixed Rent from the Lease Commencement Date until the first day of the following month shall be prorated pro-rated on a per diem basis. basis at the rate of one-thirtieth (c1/30th) If any of the monthly installment of Fixed Rent is not payable. (i) In addition to the Fixed Rent to be paid on the respective Due Dateas herein provided, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Ratepay, accruing from the Due Date of such payment until the same is paid; provided, howeveras Additional Rent, the foregoing obligation cost of any late charges and interest charges as set forth in subsection (i) below, any insufficient fund charges for bounced checks, any court costs and attorney’s fees for enforcing Tenant’s obligations under this Lease, and other costs and expenses as specified in Section 151. Tenant’s obligations to pay make the Default Rate shall not be payments required for the first late payment of Fixed Rent in any calendar year so long by this Section 4(d) as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollarssurvive any termination of this Lease by lapse of time or otherwise. (dj) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Any Rent payable by Tenant to Landlord under this Lease that is not paid within ten (10) business days after the same is due will be automatically subject to a third late payment charge of ten percent (3rd10%) party of the delinquent amount, in each instance, to cover Landlord’s additional administrative costs. In addition to the late charge set forth above, Tenant shall also be required to pay interest on all such unpaid sums, at a per annum rate equal to the maximum rate permitted by applicable law (i.e.“Default Rate”) on all such outstanding charges of Rent, utility with said interest charges, maintenance contractsas applicable, supply contractsto be payable on the first (1st) day of each month throughout the Term of this Lease, vendor contracts, etc.) shall be paid as without further notice or demand therefor by Landlord. Such late charges and when the same shall interest will be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers as set forth herein and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, will accrue from the date that such Rent (including late charges and interest) sums are payable under the provisions of payment this Lease until actually paid by ▇▇▇▇▇▇. The right of Landlord or Lender until repaid by Tenantto charge a late charge and interest with respect to past due installments of Rent is in addition to Landlord’s rights and remedies upon an Event of Default.

Appears in 4 contracts

Sources: Lease Agreement (Greenland Technologies Holding Corp.), Lease Agreement (Greenland Technologies Holding Corp.), Lease Agreement (Greenland Technologies Holding Corp.)

Fixed Rent. (a) Commencing as of No Fixed Rent or Additional Rent shall be due or payable hereunder for the period commencing on the Term Commencement Date through and including, the day prior to the Rent Commencement Date, Tenant . For the period beginning on the Rent Commencement Date through and including the last day of the twelfth (12th) full calendar month immediately following the Rent Commencement Date (this period shall pay Fixed include the partial calendar month between the Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due Commencement Date and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month (or if such first day is not a business day, the first business day of each month), commencing on full calendar month immediately following the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day if the Rent Commencement Date is other than the first day of a calendar month), the Fixed Rent shall be based upon a rate of $12.25 per square foot contained in the Building per annum (the “Fixed Rental Rate”) and shall equal $673,750.00 per annum payable in equal monthly installments of $56,145.83 (equitably pro-rated for any partial calendar month within this period), assuming the Building contains 55,000 square feet. The Fixed Rental Rate is subject to adjustment if Sublessee elects to include Sublessee’s Contribution Costs in the Fixed Rental Rate as provided in Exhibit D. The Fixed Rent for this period is subject to being confirmed and further adjusted in accordance with Section 1.4 hereof if the square footage of the Premises is determined to be other than 55,000 square feet as determined by the Measurement. Thereafter, beginning on the first day of the thirteenth (13th) full calendar month immediately following the Rent Commencement Date (the “First Adjustment Date”) and thereafter on each subsequent anniversary of the First Adjustment Date (each such anniversary of the First Adjustment Date being an “Adjustment Date”) falling within the Base Term, the Fixed Rental Rate and, correspondingly, the Fixed Rent, payable under this Lease by Sublessee shall be adjusted by an amount (each, an “Adjustment”) equal to the Fixed Rental Rate payable for and with respect to the immediately preceding twelve (12) calendar month period multiplied by the percentage change in the Consumer Price Index (as hereafter defined) during the immediately preceding 12 calendar month period multiplied by the square feet in the Premises (in the case of the Adjustment to be made on the First Adjustment Date the comparison of the Consumer Price Index shall be between the monthly Consumer Price Index last published immediately prior to the Rent Commencement Date and the monthly Consumer Price Index last published immediately prior to the First Adjustment Date) and this process shall be repeated on each subsequent Adjustment Date using the Fixed Rental Rate payable for the immediately preceding 12 calendar month period and the monthly Consumer Price Index last published immediately prior to commencement of such 12 calendar month period immediately preceding the applicable Adjustment Date and the monthly Consumer Price Index last published immediately prior to such Adjustment Date for which an Adjustment to the Fixed Rent Rate is being made such that beginning with the First Adjustment Date and thereafter on each Adjustment Date falling thereafter during the Base Term, the Fixed Rental Rate shall be subject to adjustment based on the applicable percentage change in the Consumer Price Index over the immediately preceding 12 calendar month period multiplied by the Fixed Rental Rate payable during such 12 calendar month period. As used herein, the term “Consumer Price Index” shall mean the Consumer Price Index (1982-84=100) all items for Urban Wage Earners and Clerical Workers published by the Bureau of Labor and Statistics of the United States Department of Labor for Boston, MA (or if there ceases to be any such publication, Sublessor may employ any other substantially equivalent index reasonably selected by Sublessor and generally recognized governmental index to measure changes in the cost of living for the region currently covered in the Boston, MA index). In the event that on any Adjustment Date on which the Fixed Rental Rate and Fixed Rent are subject to Adjustment as provided above, the Fixed Rental Rate and Fixed Rent for such period shall not yet have been determined in accordance with the foregoing calculations, then all amounts to be paid beginning on the applicable Adjustment Date and until such dates shall be prorated on a per diem basis. (c) If any installment of adjusted Fixed Rental Rate and Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, howeverare determined, the foregoing obligation to pay the Default Rate shall not be required for the first late monthly payment of Fixed Rent for such period for which an Adjustment is being made but not yet determined, shall be in the monthly amount applicable to the calendar month immediately preceding the applicable Adjustment Date for which such Adjustment is to be made with any calendar year so long shortfall or overpayment to be made or credited on the date which is the next date for the payment of Fixed Rent after the determination of the actual amount of the Fixed Rent as adjusted by the applicable Adjustment for such delay in payment does not continue for longer than a period of ten (10) daysis made. All such Fixed Rent set forth above as adjusted hereby from time to time shall be payable beginning on the Rent Commencement Date and thereafter on the first business day of each calendar month during the Base Term at the address from time to time designated by Sublessor for the payment of Fixed Rent and Additional Rent under this Lease. In no event shall the Fixed Rental Rate as adjusted with respect to any 12 calendar month period during the Base Term be less than the Fixed Rental Rate payable for the period from the Rent Commencement Date through, but not including, the First Adjustment Date whether or not there shall be payable a decrease in U.S. Dollars. the Consumer Price Index. Further notwithstanding the foregoing, in no event shall the amount of any annual Adjustment to the Fixed Rental Rate exceed the lesser of (di) Commencing the Adjustment based on the applicable percentage change in the Consumer Price Index as set forth above or (ii) 3% of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease Fixed Rental Rate for the first lease year (other than i.e. $0.3675 assuming a Fixed RentRental Rate of $12.25 per square foot), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 3 contracts

Sources: Lease (Salient Surgical Technologies, Inc.), Lease (Salient Surgical Technologies, Inc.), Lease (Salient Surgical Technologies, Inc.)

Fixed Rent. (aA) Commencing as of the Rent Commencement Date, Tenant shall pay to Landlord an amount equal to Two Hundred Seventy-Six Thousand Seven Hundred Eighty-Three and no/100 Dollars ($276,783.00) in full payment of all Fixed Rent to Landlord, or Landlord’s designee and Escalation Rent (as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable defined in the amounts set forth on Schedule 2 hereto for Metrovest Lease) due under the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month (or if such first day is not a business dayMetrovest Letter Agreement, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of within ten (10) daysdays after the date hereof. All Such amount represents the sum of (i) the difference between (x) the amount payable for Fixed Rent under the Metrovest Letter Agreement for the Metrovest Gap Period, and Additional (y) the Metrovest Gap Rent shall be payable (as defined in U.S. Dollarsthe Metrovest Letter Agreement) paid to Landlord prior to the date hereof, and (ii) the difference between (a) the Escalation Rent (as defined in the Metrovest Lease) applicable to the space demised under the Metrovest Lease for the Metrovest Gap Period, and (b) the Escalation Rent (as defined in the Metrovest Lease) for such space for the Metrovest Gap Period paid to Landlord prior to the date hereof. The Metrovest Gap Period is the period from April 1, 2015 to December 14, 2015. (dB) Commencing as Tenant shall pay to Landlord an amount equal to the sum of (i) the Lease Commencement Datedifference between (x) the amount payable for Fixed Rent pursuant to Section 4(C) and Section 4(D) hereof for the period commencing on (and including) December 15, all taxes, costs, expenses2015 and ending on (and including) the date hereof (the "Interim Period"), and other amounts which Tenant is required (y) the Fixed Rent for the Additional Space for the Interim Period paid to pay Landlord prior to the date hereof pursuant to this Lease the Interim Letter Agreement, and (other than Fixed Rent)ii) the difference between (a) the Escalation Rent applicable to the Additional Space for the Interim Period, together with every fine, penalty, interest and cost which may be added in accordance herewith (b) the Escalation Rent for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due such space for the Interim Period paid to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, prior to the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable date hereof pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) partyInterim Letter Agreement. If Landlord and Tenant shall fail to pay any agree on such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner amount no later than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demanddate hereof. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from such amount within ten (10) days after the date the parties agree on such amount. (C) Tenant shall pay Fixed Rent with respect to the Additional Tower Space in the amounts set forth on Exhibit "C-1" attached hereto and made a part hereof. (D) Tenant shall pay Fixed Rent with respect to the Storage Space in the amounts set forth on Exhibit "C-2" attached hereto and made a part hereof. (E) The Fixed Rent due hereunder with respect to the Additional Space for the calendar month during which the Additional Space Commencement Date occurs shall be appropriately pro-rated based on the number of payment by Landlord or Lender until repaid by Tenantdays in such calendar month.

Appears in 2 contracts

Sources: Lease (Alexanders Inc), Lease (Alexanders Inc)

Fixed Rent. (a) Commencing as of Tenant agrees to pay to Landlord, on the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlordand thereafter monthly, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedadvance, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each and every calendar month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term Original Lease Term, a sum equal to one-twelfth (each such date being referred to herein as a “Due Date”). Notwithstanding 1/12th) of the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Annual Fixed Rent specified in Section 1.1 hereof. Until notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by wire transfer remittance to or for the account specified in order of Boston Properties Limited Partnership, as agent of Landlord. All remittances received by BOSTON PROPERTIES LIMITED PARTNERSHIP, as agent as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts the first payment of Annual Fixed Rent which Tenant shall make to be paid on such dates Landlord shall be prorated a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Rent Commencement Date to the first day of the succeeding calendar month. Additional Rent payable by Tenant on a per diem monthly basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise elsewhere provided in this Lease, in which case, the Additional Rent likewise shall be paid prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence on the Rent Commencement Date and other provisions of this Lease calling for monthly payments shall be read as otherwise so providedincorporating this undertaking by Tenant. Unless otherwise provided herein, Additional Notwithstanding that the payment of Annual Fixed Rent payable by Tenant to a third (3rd) party (i.e.Landlord shall not commence until the Rent Commencement Date, utility chargesTenant shall be subject to, maintenance contractsand shall comply with, supply contracts, vendor contracts, etc.) all other provisions of this Lease as and at the times provided in this Lease. The Annual Fixed Rent and all other charges for which provision is made in this Lease shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If by Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunderwithout setoff, in each case paid by Landlord deduction or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantabatement.

Appears in 2 contracts

Sources: Lease Agreement (SEMrush Holdings, Inc.), Lease Agreement (SEMrush Holdings, Inc.)

Fixed Rent. (a) Commencing as of Tenant agrees to pay to Landlord, commencing on the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlordand thereafter monthly, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedadvance, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (or if such first day is not a business day, 1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first business day of each monthand every calendar month during the Extended Term (if exercised), commencing on a sum equal to one-twelfth of the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Annual Fixed Rent as determined in Section 3.2 for the Extended Term. Until written notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by wire transfer remittance to or for the account specified in order of Landlord as follows: c/o Samuels & Associates, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts the first payment of Annual Fixed Rent which Tenant shall make to be paid on such dates Landlord shall be prorated a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Rent Commencement Date to the first day of the succeeding calendar month. Additional Rent payable by Tenant on a per diem monthly basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise elsewhere provided in this Lease, in which case, the Additional Rent likewise shall be paid prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence on the Commencement Date and other provisions of this Lease calling for monthly payments shall be read as otherwise so providedincorporating this undertaking by Tenant. Unless otherwise provided hereinNotwithstanding that the payment of Annual Fixed Rent, Additional Rent Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to a third (3rd) party (i.e.Landlord shall not commence until the Rent Commencement Date, utility chargesTenant shall be subject to, maintenance contractsand shall comply with, supply contractsall other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, vendor contractsthe Annual Fixed Rent, etc.) Additional Rent and all other charges for which provision is made in this Lease shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If by Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunderwithout setoff, in each case paid by Landlord deduction or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantabatement.

Appears in 2 contracts

Sources: Lease Agreement (Decibel Therapeutics, Inc.), Lease Agreement (Decibel Therapeutics, Inc.)

Fixed Rent. (a) Commencing as of A. From and after the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlord, at ▇▇ ▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇. ▇▇▇▇▇, or Landlord’s designee as designated in a written notice to Tenant such other person or at such other address in the United States as Landlord shall may from time to time designate by written notice to Tenant. Except , in advance, without previous demand therefor and without counterclaim, deduction or set-off, except as hereinafter provided, expressly set forth herein on the Fixed Rent shall be due and first day of each calendar month during the term the annual sum of $296,318.50 payable in equal monthly installments on the amounts set forth first day of each and every month during the Term of $24,693.20(hereinafter called "Fixed Rent"). B. If the Rent Commencement Date shall occur on Schedule 2 hereto a date other than the first day of a calendar month, then Tenant shall pay to Landlord in advance a pro rata share of the monthly installment of Basic Rent for such partial month and thereafter the respective periods shown on such Schedule 2. Fixed full monthly Basic Rent installment shall be become due and payable in advance on the first day of each month (or if such first day is not a business day, the first business day of each and every month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Expiration Date shall be occur on any day a date other than the first last day of a calendar month, then all amounts Tenant shall pay to be paid on such dates shall be prorated on Landlord a per diem basis. (c) If any pro rata share of the monthly installment of Fixed Rent is not paid on the respective Due Datefor such partial month. C. Landlord hereby waives Tenant's obligation, and Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required to pay, the Fixed Rent for the period until the Rent Commencement Date (as hereinafter defined) as an allowance for Tenant's moving costs. The date which is the later of (a) the date on which Landlord has completed all of the work set forth on Landlord's letter dated September 15, 2004 attached hereto as Exhibit "B" including the fixing of any and all existing cracks in the silo (collectively, "Landlord's Work") or (b) the ninetieth (90th) day from the Commencement Date is herein called the "Rent Commencement Date." Landlord's Work shall be promptly completed in a good and workmanlike manner and in compliance with all applicable laws and ordinances. D. The security deposit hereinafter set forth and the first late payment of month's Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement simultaneously with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration execution of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or this Lease by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantboth parties.

Appears in 2 contracts

Sources: Lease Agreement (Media Sciences International Inc), Lease (Media Sciences International Inc)

Fixed Rent. Tenant agrees to pay to Landlord the annual Fixed Rent (a) Commencing as set forth in Paragraph F of the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlord, or Landlord’s designee as designated Summary of Lease Terms) in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable twelve (12) equal monthly installments in advance on the first day of each calendar month of the term of this Lease (the “Fixed Rent”) without deduction, offset, prior notice or if demand, in lawful money of the United States, at the office of Landlord at Landlord’s address for notice as specified in Paragraph M of the Summary of Lease Terms or at such first day other place as may hereafter be designated by Landlord If the Commencement Date is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to or if the Expiration Date is not the last day of a month, a prorated monthly installment shall be paid on such dates shall be prorated on a per diem basis. (c) If any installment at the then current rate for the fractional month during which the Lease commences and/or expires. It is the responsibility of Tenant to ensure that all payments of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional all other rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in under this Lease, in which case, arrives at the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when above-mentioned place on or before the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) partydate. If the due date is a weekend or holiday, then Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as must arrange for earlier delivery. Payments made by mail will be considered late if they are provided herein or not received by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demandthe designated due date. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent All amounts of rent, including, without limitation, Fixed Rent, and other sums due hereunderunder this Lease (collectively “Rent”) if not paid when due shall (i) bear interest from the due date until paid at a per annum rate equal to the lesser of (x) the maximum rate allowed by applicable law pursuant to Section 20.8 hereof, in each case paid or (y)twelve percent (12%) (the “Default Rate”) until fully paid, and (ii) incur a late charge of five percent (5%) of such unpaid amount upon the 2 date that such Rent first becomes delinquent. Landlord and Tenant agree that the amount of such interest and late charge is fair and reasonable compensation for costs and expenses incurred by Landlord due to the failure by Tenant to timely make any payment of Rent or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.other sums due under this Lease as such costs and expenses are extremely difficult to estimate and ascertain. 3.2

Appears in 1 contract

Sources: Lease Agreement

Fixed Rent. All fixed, minimum or base rentals (aother than percentage rent and expense reimbursement amounts) Commencing and other tenant charges received in respect to the month in which the Closing Date occurs (the "Current Month") shall be prorated. Such fixed rents for the Current Month which have been received as of the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month (or if such first day is not a business day, the first business day of each month), commencing on the Closing Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. basis based upon the number of days in the Current Month prior to the Closing Date (cwhich shall be allocated to Seller) If any installment and the number of days in the Current Month on and after the Closing Date (which shall be allocated to Buyer). Fixed Rent is rents which are delinquent as of the Closing Date shall not paid be prorated on the respective Due Closing Date, Tenant . All delinquent fixed rents received by Buyer from a tenant after the Closing Date shall pay Landlord interest on such overdue payment at first be applied to the Lease Default Rate, accruing from the Due Date most recently accrued obligation of such payment until tenant. After application as set forth above, Buyer shall promptly remit to Seller that portion of delinquent fixed rents received after the same is paid; provided, however, Closing Date attributable to periods prior to the foregoing obligation Closing Date and Seller shall promptly remit to pay Buyer that portion of fixed rents received after the Default Rate Closing Date attributable to periods on and after the Closing Date. Buyer shall reasonably cooperate with Seller in collecting any delinquent fixed rents due Seller (but Buyer shall not be required for the first late payment of Fixed Rent to litigate, declare a default in any calendar year so long as Lease, or incur any additional out of pocket costs in order to collect any such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”delinquent fixed rents due Seller). All Additional Rent due Seller hereby reserves its right to Landlord institute an action against any tenant for delinquent fixed rents attributable to periods prior to the Closing Date (or its designee) but in no event shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant Seller have any right to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies institute eviction proceedings with respect thereto as are provided herein thereto, terminate any Lease or by Law in the case of non-payment of attach any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest tenant's property at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by TenantProperty).

Appears in 1 contract

Sources: Purchase Agreement (JMB Income Properties LTD V)

Fixed Rent. (a) Commencing During the Term, Subtenant shall pay to Sublandlord a fixed rent (the “Fixed Rent”) as set forth on Schedule 1 annexed hereto and made a part hereof. Notwithstanding the foregoing, provided that Subtenant is not in monetary default hereunder, or otherwise in default of the Rent Commencement Datea material covenant herein, Tenant Subtenant shall not be required to pay Fixed Rent for the period from the Commencement Date through the date which is one day prior to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the sixth (6th) month anniversary of the Commencement Date. (b) The Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first (1st) day of each calendar month (at the office of Sublandlord, or if at such first day is not a business dayother place or places as Sublandlord may designate, at any time and from time to time, without any set-off or deduction of any kind whatsoever unless expressly permitted in this Agreement. Subtenant shall pay to Sublandlord the first business day monthly installment of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with due under this Sublease, upon the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basisSublease. (c) If Subtenant shall fail to pay any installment or other payment of Fixed any Rent is not (as defined in Section 4(c) hereof) or other sums payable hereunder when due, interest shall accrue (and shall be paid on the respective Due Date, Tenant shall pay Landlord interest to Sublandlord immediately upon demand) on such overdue installment or payment as a late charge, from the date such installment or payment became due until the date paid, at the Lease Default Rate, accruing from rate of interest set forth in Section 46A of the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. DollarsLease. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other All amounts which Tenant is required due under this Sublease are to pay pursuant be paid to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord Sublandlord (or its designeedesignees) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration lawful money of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein United States by federal funds wire transfer or by Law in the case of non-payment of any Fixed Rent good and shallsufficient check, except as expressly provided hereinsubject to collection, have the right (after the expiration drawn on a bank which is a member of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord Federal Reserve System or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenanta successor thereto.

Appears in 1 contract

Sources: Sublease Agreement (Value Line Inc)

Fixed Rent. Fixed rent (athe “Fixed Rent”) Commencing as is payable by Tenant beginning on the Commencement Date in monthly installations each equal to (See Rent Schedule - Rider#l), representing one- twelfth (1/12) of the Rent Commencement Date, Tenant shall pay annual Fixed Rent (the “Annual Fixed Rent”) equal to Landlord(See Rent Schedule - Rider#l), without prior notice or Landlord’s designee as designated demand, and without any setoff or deduction whatsoever, in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedadvance, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month (or if at such first day is not a business day, place as Landlord may direct. Annual Fixed Rent shall include the first business day Operating Expense Allowance as set forth in Section I(1) of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a Exhibit Due Date”)C” hereto. Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Annual Fixed Rent shall be paid by wire transfer subject to the account specified adjustment as provided in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery Section II of this Lease. (b) If Exhibit “C” hereto. In addition, if the Lease Commencement Date or Rent Commencement Date shall be Term commences on any a day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest to Landlord, on such overdue payment at or before the Commencement Date of the Lease Default RateTerm, accruing from a pro rata portion of the Due monthly installment of rent (Including Fixed Rent and any Additional Rent as herein provided), such pro rata portion to be based on the actual number of calendar days remaining in such partial month after the Commencement Date of the Lease Term. If the Lease Term shall expire on other than the last day of a calendar month, such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment monthly installment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as prorated for each calendar day of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than such partial month. If any portion of Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due , or any other sum payable to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same hereunder shall be due and payable pursuant unpaid for more than five (5) days, the balance due shall be subject to Tenant’s agreement or other arrangement with the applicable third (3rd) partyand include a 10 percent penalty. If Tenant shall fail to pay In addition, if any such portion of Fixed Rent, Additional Rent or any other sum payable to Landlord hereunder shall be due hereunder when the same shall become due and unpaid for more than five (5) days after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case written notice of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice by Landlord to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior written notice shall not be necessaryrequired more than two times in any period of twelve (12) consecutive months), it shall thereafter bear interest at a rate equal to three percent (3%) per annum greater than the highest prime rate of interest announced from time to time by NationsBank (or its intent to do sosuccessor) (the “Default Rate”), to pay as the same on behalf of Tenant, and Tenant shall repay such amounts may change from time to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenanttime, from the due date until the date of payment by Landlord or Lender until repaid thereof by Tenant, provided, however, that nothing herein contained shall be construed or implemented in such a manner as to allow Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law.

Appears in 1 contract

Sources: Lease Agreement (Sinclair Broadcast Group Inc)

Fixed Rent. A. Sublessee shall pay to Sublessor, during the term of this Sublease, the annual rental (a) Commencing as “fixed rent”), which shall be inclusive of Sublessee’s electric charges, of: commencing on the Rent Commencement Date and continuing through and including the Expiration Date, Tenant shall pay Fixed Rent to Landlord, or Landlord’s designee as designated at the rate of Five Hundred Five Thousand Seven Hundred Sixty One Dollars ($505,761.00) per annum payable in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenantequal monthly installments of $42,146.75. Except as hereinafter provided, the Fixed Rent Each monthly installment of fixed rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance paid on the first day of each and every calendar month (or if such first day is not a business dayduring the term, except the first business day full monthly installment of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent fixed rent shall be paid by wire transfer to upon execution of this Sublease. The fixed rent for any month of the account specified term of this Sublease which does not begin or end on the first or last day of a calendar month shall be prorated on a daily basis in the rent direction letter from Landlord to Tenant delivered concurrently accordance with the fixed rent due for the calendar month. Since the installment for the first full month’s fixed rent is being paid by Sublessee upon the execution and delivery of this Lease. (b) If Sublease regardless of whether the Lease Commencement Date or Rent Commencement Date term shall be have commenced on any day other than the first day of a calendar month, then all amounts any adjustment to which Sublessee is entitled on account of the immediately preceding sentence shall be made to the monthly installment of fixed rent due on the first day of the calendar month next following the month in which the Commencement Date occurs. All fixed rent, additional rent and other sums and charges due to Sublessor under this Sublease shall be paid on by Sublessee at the office of Sublessor set forth above, or at such dates other place as Sublessor may designate, without any notice, setoff or deduction whatsoever. Sublessee’s obligation to make such payments shall be prorated on a per diem basissurvive the Expiration Date or sooner termination of this Sublease. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. B. All Fixed Rent other costs and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts expenses which Tenant is required Sublessee assumes or agrees to pay pursuant to this Lease (other than Fixed Rent)Sublease shall be deemed additional rent and, together with every fine, penalty, interest and cost which may be added in accordance herewith for the event of non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is duepayment, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord Sublessor shall have all rights, powers the rights and remedies with respect thereto as are herein provided herein or by Law for in the case of non-payment of any Fixed Rent base rent and shall, except additional rent as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.per Section 1.5

Appears in 1 contract

Sources: Sublease Agreement (NPS Pharmaceuticals Inc)

Fixed Rent. Fixed rent (athe “Fixed Rent”) Commencing as is payable by Tenant beginning on the Commencement Date in monthly installations each equal to (See Rent Schedule - Rider #1), representing one-twelfth (1/12) of the Rent Commencement Date, Tenant shall pay annual Fixed Rent (the “Annual Fixed Rent”) equal to Landlord(See Rent Schedule - Rider #1), without prior notice or Landlord’s designee as designated demand, and without any setoff or deduction whatsoever, in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedadvance, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month at such place as Landlord may direct. Annual Fixed Rent shall include the Operating Expense Allowance as set forth in Section I (or if such first day is not a business day, the first business day 1) of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a Exhibit Due Date”)C” hereto. Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Annual Fixed Rent shall be paid by wire transfer subject to the account specified adjustment as provided in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery Section II of this Lease. (b) If Exhibit “C” hereto. In addition, if the Lease Commencement Date or Rent Commencement Date shall be Term commences on any a day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest to Landlord, on such overdue payment at or before the Commencement Date of the Lease Default RateTerm, accruing from a pro rata portion of the Due monthly installment of rent (Including Fixed Rent and any Additional Rent as herein provided), such pro rata portion to be based on the actual number of calendar days remaining in such partial month after the Commencement Date of the Lease Term. If the Lease Term shall expire on other than the last day of a calendar month, such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment monthly installment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as prorated for each calendar day of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than such partial month. If any portion of Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due , or any other sum payable to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same hereunder shall be due and payable pursuant unpaid for more than five (5) days, the balance due shall be subject to Tenant’s agreement or other arrangement with the applicable third (3rd) partyand include a 10 percent penalty. If Tenant shall fail to pay In addition, if any such portion of Fixed Rent, Additional Rent or any other sum payable to Landlord hereunder shall be due hereunder when the same shall become due and unpaid for more than five (5) days after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case written notice of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice by Landlord to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior written notice shall not be necessaryrequired more than two times in any period of twelve (12) consecutive months), it shall thereafter bear interest at a rate equal to three percent (3%) per annum greater than the highest prime rate of interest announced from time to time by NationsBank (or its intent to do sosuccessor) (the “Default Rate”), to pay as the same on behalf of Tenant, and Tenant shall repay such amounts may change from time to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenanttime, from the due date until the date of payment by Landlord or Lender until repaid thereof by Tenant, provided, however, that nothing herein contained shall be construed or implemented in such a manner as to allow Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law.

Appears in 1 contract

Sources: Lease Agreement (Sinclair Broadcast Group Inc)

Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during Tenant shall pay to Landlord, at the Term (each business address of Landlord specified in Section 3 of Part I hereof, or at such date being referred to herein other address as a “Due Date”). Notwithstanding the foregoingLandlord shall, from time to time, designate by notice to Tenant, the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer set forth in Section 14 of Part I hereof, payable to Landlord no later than the account specified fifth (5th) day of each month in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of advance, without demand or set-off, except as otherwise expressly provided in this Lease. (b) Fixed Rent and all other charges due under this Lease shall commence immediately on the date hereof, subject to all of the other terms of this Lease. If the Lease Commencement Date or of Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on Fixed Rent and other charges for such dates month shall be prorated pro rated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement DateDate of Rent Commencement, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof thereof, shall constitute additional rent hereunder (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment to the party to whom such Additional Rent is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods thereforand if no due date is specified, then such amounts shall be payable on demand), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof)right, not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant. (e) Fixed Rent for any fixed rate Extension Period described in Section 12(a) of Part I of this Lease shall be paid in the amounts set forth in Section 14 of Part I hereof, and Fixed Rent for Fair Market Value based Extension Periods shall be as set forth in Article 2 of Part II hereof and in Schedule 2 hereto.

Appears in 1 contract

Sources: Lease Agreement (American Realty Capital Trust, Inc.)

Fixed Rent. Subtenant shall pay to Sublandlord, during the Term of this Sublease, annual fixed rental (the "Fixed Rent") as follows: (a) Commencing as of for the period from the Rent Commencement Date (as hereinafter defined) through the day preceding the third (3rd) anniversary of the Commencement Date, Tenant shall pay Fixed Rent [redacted pursuant to Landlorda request for confidential treatment filed with the Securities and Exchange Commission] per annum, or Landlord’s designee as designated in equal monthly installments of [redacted pursuant to a written notice request for confidential treatment filed with the Securities and Exchange Commission]; and (b) for the period from the third (3rd) anniversary of the Commencement Date through the Expiration Date, [redacted pursuant to Tenant at such address as Landlord shall from time a request for confidential treatment filed with the Securities and Exchange Commission] per annum, in equal monthly installments of [redacted pursuant to time designate by written notice to Tenanta request for confidential treatment filed with the Securities and Exchange Commission]. Except as hereinafter provided, the All payments of Fixed Rent shall be due and payable in the amounts set forth made on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on or before the first day of each every calendar month during the period beginning on the date that is the ten (or if such first day is not 10) month anniversary of the Commencement Date, subject to extension as provided in Section 1(b) (the "Rent Commencement Date") and ending on the Expiration Date, both dates inclusive, however, Subtenant, as a business daycondition to Sublandlord's execution and delivery hereof, shall deliver to Sublandlord a check for the first business day monthly installment of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent upon the satisfaction of the condition set forth in Section 29 hereof, which amount Sublandlord shall apply to the first monthly installment of Fixed Rent payable hereunder. All Fixed Rent, and other sums and charges due to Sublandlord under this Sublease shall be paid by Subtenant at the office of Sublandlord set forth above, or at such other place as Sublandlord may designate in writing to Subtenant, without any counterclaim, setoff or deduction whatsoever, and without demand therefor. Payment of Fixed Rent and payment of any Additional Rent (as hereinafter defined) hereunder shall be by Subtenant's unendorsed check (subject to collection) drawn on a New York City bank which is a member of the New York Clearing House Association or a successor thereto or a bank that clears through the New York Clearing House Association or a successor thereto or by wire transfer of immediately available funds to the an account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) designated by Sublandlord. If the Lease Commencement Date or Rent Commencement Date shall be on any day other than is not the first day of a calendar month or the Expiration Date of this Sublease is not the last day of a calendar month, then all amounts to be paid on such dates rent for the month in which the Rent Commencement Date or the Expiration Date occurs shall be prorated pro-rated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Sublease Agreement (Marvel Enterprises Inc)

Fixed Rent. (a) Commencing as of upon the Rent Commencement Date, Tenant Subtenant shall pay to Sublandlord, without notice, billing, demand, deduction, offset or abatement, in lawful money of the United States of America, fixed rent (“Fixed Rent to Landlord, or Landlord’s designee as designated Rent’’) in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the following amounts during the following period of time: Fixed Rent shall be due and paid to the notice address for Sublandlord set forth in Section 14.1 of this Sublease, Fixed Rent is payable in equal monthly installments in the amounts set forth on Schedule 2 hereto amount of the Monthly Fixed Rent for the respective periods shown on applicable time period, and such Schedule 2. Fixed Rent shall be amount is due and payable in advance on or before the first day of each and every calendar month during the Term, provided, however, that 1 monthly installment of Fixed Rent (or if such first day i.e.. Fixed Rent for December 2012) is due and payable on the Effective Date. If the Commencement Date is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any the first monthly installment of Fixed Rent is not paid on shall be prorated based upon the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at number of days during the Lease Default Rate, accruing month from and after the Due Commencement Date until and including the last day of such payment until the same is paid; provided, howevercalendar month in which the Commencement Date occurs. In addition, the foregoing obligation to pay the Default Rate shall not be required for the first late payment monthly installment of Fixed Rent due for any partial month at the end of the Term shall be prorated based upon the number of days remaining in any calendar year so long as such delay in payment does not continue for longer than a period the month from and after the last day of ten (10) daysthe Term. All Notwithstanding anything above to the contrary, Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as conditionally abated during the first four months of the Lease Commencement DateTerm. Commencing with the first day of the fifth month of the Term, Subtenant shall make Fixed Rent payments as otherwise provided herein. Notwithstanding such abatement of Fixed Rent all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to sums due under this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) Sublease shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise payable as provided in this Lease, in which case, Sublease. This abatement of Fixed Rent is conditioned upon Subtenant’s full and timely performance of all of its obligations under the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) partySublease. If Tenant shall fail to pay at any such Additional Rent or time during the Term a default by Subtenant occurs, and said default remains uncured beyond any other sum due hereunder when the same shall become due applicable notice and cure period (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods extensions thereof), not sooner than ten (10) days after notice then the abatement of Fixed Rent provided for in this section shall immediately become void, and Subtenant shall promptly pay to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) addition to all other amounts due to Sublandlord under this Sublease, the full amount of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Fixed Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantherein abated.

Appears in 1 contract

Sources: Lease Agreement (Support.com, Inc.)

Fixed Rent. (a) Commencing Fixed rent (collectively, "FIXED RENT") paid or payable by tenants in connection with their occupancy shall be adjusted and prorated on an if, as and when collected basis. Any Fixed Rent collected by Purchaser or Seller after the Closing from any tenant who owes Fixed Rent for periods prior to the Closing, shall be applied (i) first, in payment of Fixed Rent owed by such tenant for the month next preceding the month in which the Closing Date occurs, (ii) second, in payment of Fixed Rent owed by such tenant for the month in which the Closing Date occurs, (iii) third, in payment of Fixed Rent owed by such tenant for the period (if any) after the month in which the Closing Date occurs through the end of the month in which such amount is collected and (iv) fourth, after Fixed Rent Commencement Datefor all current periods have been paid in full, Tenant in payment of Fixed Rent owed by such tenant for the period prior to the month preceding the month in which the Closing Date occurs. Each such amount, less any costs of collection (including reasonable counsel fees) reasonably allocable thereto, shall be adjusted and prorated as provided above, and the party who receives such amount shall promptly pay over to the other party the portion thereof to which it is so entitled. In furtherance and not in limitation of the preceding sentence, with respect to any tenant which has paid all Fixed Rent for periods through the Closing, if, prior to the Closing, Seller shall receive any prepaid Fixed Rent from such tenant attributable to a period following the Closing, at the Closing, Seller shall pay over to Purchaser 13 the amount of such prepaid Fixed Rent. (b) Purchaser shall bill ▇▇▇ants who owe Fixed Rent for periods prior to Landlord, or Landlord’s designee as designated the Closing on a monthly basis for a period of six (6) consecutive months following the Closing Date in a written notice the same manner that Purchaser bills tenants for Fixed Rent subsequent to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter the Closing; provided, the however, that Purchaser shall have no obligation to commence any actions or proceedings to collect any such past due Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”)Rent. Notwithstanding the foregoing, from if Purchaser shall be unable to collect such past due Fixed Rent, Seller shall have the Date right, upon prior written notice to Purchaser, to pursue tenants to collect such delinquencies (including, without limitation, the prosecution of Rent Commencement until Tenant is notified otherwise one or more lawsuits), but Seller shall not be entitled to evict (by Landlord and Lender, summary proceedings or otherwise) any such tenants. Any payment by a tenant in an amount less than the full amount of Fixed Rent and Overage Rent then due and payable by such tenant shall be paid by wire transfer applied first to Fixed Rent (in the order of priority as to time periods as is set forth in Section 4.1(a) above) to the account specified extent of all such Fixed Rent then due and payable by such tenant, and thereafter to Overage Rent (in the rent direction letter from Landlord order of priority as to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basistime periods as is set forth in Section 4.2 below). (c) If any installment of Fixed Rent is not paid on Seller and Purchaser acknowledge that the respective Due DateConsideration Payment and the Expansion Consideration Payment, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay terms are defined in payment does the Elephantx Lease, are not continue for longer than a period of ten (10) daysconsidered rent, prepaid rent or free rent thereunder, but constitute amounts payable to Seller. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing Seller represents that the Consideration Payment has been paid as of the Lease Commencement Date, all taxes, costs, expensesdate hereof, and other amounts which Tenant the Expansion Consideration Payment is required currently due and owing to pay pursuant Seller and will be made to this Lease (other than Fixed Rent), together with every fine, penalty, interest Seller on or prior to the Closing. Seller and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) Purchaser expressly agree that neither the Consideration Payment nor the Expansion Consideration Payment shall be adjusted, that Seller is entitled to retain the full amounts thereof, whether any portion of such amounts are paid directly by Tenant within thirty (30) days after Landlord gives written notice prior to or following the Closing, and that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent Purchaser shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant have no right to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration portion of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantsame.

Appears in 1 contract

Sources: Sale and Purchase Agreement (Ampal American Israel Corp /Ny/)

Fixed Rent. (a) Commencing as Sublessee shall pay to Sublessor, at the Payment of Rent Address, during the Term, Fixed Rent in equal monthly installments, commencing on the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due Date and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance thereafter on the first day of each and every calendar month (during the Term. The Fixed Rent for any month of the term of this Sublease which does not begin or if such first day is not a business day, end on the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first last day of a calendar month, then all amounts to be paid on such dates month shall be prorated on a per diem basis. daily basis in accordance with the Fixed Rent due for the calendar month. All Fixed Rent, Additional Rent and other sums and charges due to Sublessor under this Sublease shall be paid by Sublessee at the Payment of Rent Address set forth above, or at such other place as Sublessor may designate, without any notice, setoff or deduction whatsoever. Sublessee's obligation to make such payments shall survive the Expiration Date or sooner termination of this Sublease. All other costs and expenses which Sublessee assumes or agrees to pay pursuant to this Sublease shall be deemed Additional Rent and, in the event of non-payment, Sublessor shall have all the rights and remedies provided for in case of non-payment of Fixed Rent (cor its equivalent term) in the Underlying Lease. If Sublessee shall fail to duly and timely pay any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due , Sublessee shall also pay to Landlord (or its designeeSublessor a late charge(s) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be interest charges due and payable from Sublessor to Underlying Landlord pursuant to Tenant’s agreement or other arrangement with Section 2.3 of the applicable third (3rd) party. If Tenant shall fail Underlying Lease, such late charge to pay any such be payable as Additional Rent or any hereunder. The payment of such late charge shall be in addition to all other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers rights and remedies with respect thereto as are provided herein or by Law available to Sublessor in the case of non-payment of Fixed Rent. In the event Sublessor incurs any Fixed costs or expenses which are directly attributable to services or utilities furnished to the Sublet Premises or repairs made in the Sublet Premises, such costs and expenses shall be deemed Additional Rent under this Sublease, and shallSublessee shall pay Sublessor or the applicable provider, except as expressly provided hereinthe case may be, have the right full amount of such costs and expenses within five (5) days after the expiration receipt of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantinvoices.

Appears in 1 contract

Sources: Sublease Agreement (Greenhill & Co Inc)

Fixed Rent. Fixed rent (athe "Fixed Rent") Commencing as is payable by Tenant beginning on the Commencement Date in monthly installments equal to one-twelfth (1/12th) of the Rent Commencement Date, Tenant shall pay total annual Fixed Rent to Landlord, or Landlord’s designee (the "Annual Fixed Rent") payable for the applicable period as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due in Exhibit "B" attached hereto, without prior notice or demand, and payable without any setoff or deduction whatsoever, in advance advance, on the first day of each month (or if at such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein place as a “Due Date”)Landlord may direct. Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, The Annual Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If set forth herein is an annualized amount. In addition, if the Lease Commencement Date or Rent Commencement Date shall be Term commences on any a day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest to Landlord, on such overdue payment at or before the Commencement Date of the Lease Default RateTerm, accruing from a pro rata portion of the Due monthly installment of rent (including Fixed Rent and any Additional Rent, as hereinafter defined), such pro rata portion to be based on the actual number of calendar days remaining in such partial month after the Commencement Date of the Lease Term. If the Lease Term shall expire on other than the last day of a calendar month, such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment monthly installment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as prorated for each calendar day of such partial month. Upon the second occurrence and those thereafter within any six-month period during the Lease Commencement DateTerm, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than if any portion of Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum payable to Landlord hereunder shall be due hereunder when the same and unpaid for more than ten (10) days, Tenant shall become due (after the expiration pay to Landlord, without notice or demand, a late charge equal to 5% of the applicable cure periods therefor)such overdue amount to partially compensate Landlord for its administrative costs. Tenant acknowledges that such late fee is a reasonable approximation of such costs and does not constitute a penalty. In addition, Landlord shall have all rights, powers amounts overdue and remedies with respect thereto as are provided herein or by Law unpaid in the case excess of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice by Landlord that such amounts are overdue and unpaid shall bear interest at a rate equal to Tenant two percent (except 2%) per annum greater than the prime rate of interest as published in the event of an emergencyWall Street Journal, eastern edition, from time to time (the "Default Rate"), as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts may change from time to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenanttime, from the due date until the date of payment by Landlord or Lender until repaid thereof by Tenant, provided, however, that nothing contained herein or elsewhere in this Lease shall be construed or implemented in such a manner as to allow Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law. Landlord and Tenant understand and agree that memos written on rental checks or any other payment forms delivered to Landlord do not and shall not, throughout the Lease Term hereunder, constitute satisfaction of any current or outstanding debt of Tenant pursuant to this Lease, and, provided further that any such memo shall not preclude Landlord from recovering any balance of any sum or sums due under this Lease. In addition, a letter or similar type statement accompanying any rental check or payment form delivered to Landlord pursuant to this Lease also shall have no force or effect under this Lease as such may relate to the satisfaction of any debt of Tenant hereunder.

Appears in 1 contract

Sources: Lease Agreement (Corporate Office Properties Trust Inc)

Fixed Rent. (a) Commencing as A. Subject to Paragraph B of the Rent Commencement Datethis Section 5.1, Tenant shall agrees to pay Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant directed by Landlord at such address place as Landlord shall from time to time designate by written notice to Tenant. Except notice, (1) commencing on the Rent Commencement Date, as hereinafter providedherein defined, the Fixed Rent shall be due for each Building, and payable thereafter monthly, in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance advance, on the first day of each and every calendar month during the initial Lease Term, one-twelfth (or if such first day is not a business day, 1/12) of the Annual Fixed Rent specified in Section 1.3 hereof and (2) on the first business day of each monthand every calendar month during each Extended Term (if exercised), commencing on one-twelfth of the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Annual Fixed Rent as determined in Section 3.2 for the applicable Extended Term. Until notice of some other designation is given, Annual Fixed Rent and all other charges for which provision is herein made shall be paid by wire transfer remittance to or to the account specified in the rent direction letter from Landlord order of at ▇.▇. ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇, and all remittances received by BOSTON PROPERTIES LIMITED PARTNERSHIP, or by any subsequently designated recipient, shall be treated as a payment to Tenant delivered concurrently with the execution and delivery of this LeaseLandlord. (b) If B. Notwithstanding anything to the Lease Commencement Date contrary herein contained: 1. Tenant shall have no obligation to pay Annual Fixed Rent or other charges with respect to any Building prior to the Rent Commencement Date with respect to such Building, and 2. If all of the Buildings do not have the same Rent Commencement Date and/or, in accordance with the definition of the term "Rent Year", as set forth in Section 1.3, all of the Buildings do not have the same Rent Year after the first Rent Year, then the amount of Annual Fixed Rent payable in respect of each Building shall be based upon a pro rata allocation to such Building based upon the rent schedule and the agreed upon Rentable Floor Area of such Building as set forth in Section 1.3. C. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the Rent Commencement Date in respect of any day Building shall occur on other than the first day of a calendar month, then all amounts the first payment of Annual Fixed Rent which Tenant shall make to be paid on Landlord in respect of such dates Building shall be prorated a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from such Rent Commencement Date to the first day of the succeeding calendar month. D. Additional Rent payable by Tenant on a per diem monthly basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise elsewhere provided in this Lease, likewise shall be prorated, and the first payment on account thereof in respect of any Building shall be determined in similar fashion and shall commence on the Rent Commencement Date in respect of such Building and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. The Annual Fixed Rent and all other charges for which case, the Additional Rent provision is made in this Lease shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e.Landlord without setoff, utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement deduction or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shallabatement, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except set forth in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by TenantLease.

Appears in 1 contract

Sources: Lease Agreement (Parametric Technology Corp)

Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant shall pay to Landlord without notice or demand, and without set-off (except as provided herein or if allowed by law)), the annual Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable equal monthly installments, in advance on the first day of each calendar month (or if such first day is not a business day, during the first business day of each month), Term commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and LenderDate, Fixed Rent except that an amount equal to one month's full installment of $88,333.33 shall be paid upon the full execution of this Lease by wire transfer the Parties which shall be applied to the account specified in first full month's installment of Fixed Rent, due hereunder. In the rent direction letter from Landlord to Tenant delivered concurrently with event the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any other day other than the first day of the month, the Tenant shall also pay a prorated portion of the monthly installment applicable to the period from the Rent Commencement Date to the end of the calendar month (utilizing thirty (30) days as a calendar month), then in advance on the first (15t) day of the second (2nd) month of the term. Fixed Rent and all amounts other sums payable by Tenant to Landlord hereunder shall be paid on to Landlord or to such dates other person and at such other place as Landlord may from time to time designate in advance and in writing. (b) In the event any Fixed Rent or Additional Rent, charge, fee or other amount due from Tenant under the terms of this Lease are not paid to Landlord within five (5) days of the date due, Tenant shall be prorated on a per diem basisalso pay as Additional Rent service and handling charge equal to the Late Charge times the total payment then due. This provision shall not prevent the Landlord from exercising any other remedy herein provided in the event of any default by Tenant. (c) Within 60 days after delivery of the Premises to Tenant, Tenant may cause its architect to measure the size of the Premises using the standard method of measuring floor areas in building comparable to the Building as established by BOMA, if such standards exist, or if such standards do not exist, using any other reasonable standard of measurement mutually acceptable to Tenant and Landlord in their respective discretion reasonably exercised. Tenant shall provide Landlord a copy of Tenant's measurements and the method of computation, and Landlord's architect shall be entitled to review and approve of the same, such approval not to be unreasonably withheld or delayed. If any installment the results of such measurement show the "High Bay" space to be different than 60,000 square feet, and/or the "Adjacent Space" space to be different than 40,000 square feet, Fixed Rent is not paid shall be adjusted upward or downward, as the case may be, at the rate of $9.00 per square foot per annum for the "High Bay" space and $13.00 per square foot per annum, on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required "adjacent Space" space for the first late payment five years of Fixed Rent in any calendar year so long as such delay in payment does not continue the term, and at $10.00 per square foot per annum and $14.00 per square foot per annum, respectively, for longer than the remainder of the Term; a period of ten (10) days. All Fixed Rent and Additional Rent the fractions used to determine Tenant's Allocable Share shall be payable in U.S. Dollarsappropriately adjusted. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Lease (Homegrocer Com Inc)

Fixed Rent. (a) Commencing as of the Rent Commencement Date, i. Tenant shall agrees to pay Fixed Rent to Landlord, without offset or Landlord’s designee deduction and without previous demand therefor, annual Fixed Rent during each Lease Year (as designated defined below) of the Term. The annual Fixed Rent during the original Term shall be as provided in a written notice to Tenant at Section 1.2 above. ii. All such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the annual Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable equal monthly installments, in advance advance, on the first day of each and every calendar month (or if such first day is not a business day, during the first business day of each month)Term, commencing on the Date Commencement Date, to Landlord, or as directed by Landlord, at the Present Mailing Address of Rent Commencement, during Landlord (as set forth in Section 1.2) or at the Term (each such date being referred address from time to herein as a “Due Date”)time designated by Landlord. iii. Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent for any partial month shall be paid by wire transfer to Tenant on a pro rata basis, and if the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be occurs on any a day other than the first day of a calendar month, then all amounts to be paid on such dates the first payment which Tenant shall make shall be prorated on a per diem basispayment equal to a proportionate part of such monthly Fixed Rent for the partial month from such date to the first day of the succeeding calendar month, and the monthly Fixed Rent for such succeeding calendar month. (c) If any installment iv. For the purposes of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, “Lease Year” shall mean each successive 12-month period included in which casewhole or in part in the Term of this Lease; the first Lease Year beginning on the Commencement Date and ending at midnight on the day before the first anniversary of the Commencement Date (provided that if the Commencement Date is not the first day of a calendar month, the Additional Rent first Lease Year shall end at midnight on the last day of the calendar month which includes the first anniversary of the Commencement Date). If the first Lease Year of the Term shall be paid as otherwise so provided. Unless otherwise provided hereingreater than one full calendar year, Additional the annual Fixed Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) for such Lease Year shall be paid as and when increased proportionately to the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any greater length of such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by TenantYear.

Appears in 1 contract

Sources: Expansion Option Agreement (Color Kinetics Inc)

Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant A. Subtenant shall pay to Sublandlord rent (the “Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable Rent”) in the amounts set forth on Schedule 2 hereto of: (i) Four Hundred Fifty-Three Thousand One Hundred Eighty-Four and 00/100 Dollars ($453,184.00) per annum for the respective periods shown period commencing on such Schedule 2the Commencement Date and ending at 11:59 p.m. on the date immediately preceding the first (1st) anniversary of the Commencement Date; and (ii) Four Hundred Sixty-Seven Thousand Seven Hundred Eighty-Four and 00/100 Dollars ($467,784.00) per annum for the period commencing on the first (1st) anniversary of the Commencement Date and ending at 11:59 p.m. on the Expiration Date. The Fixed Rent is subject to adjustment in accordance with the provisions of Articles 19 and 20 of this Sublease. B. Subtenant shall be due and payable pay to Sublandlord the Fixed Rent, in equal monthly installments in advance on the first day of each month (or if such first day is not a business dayduring the term of this Sublease, except that the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent monthly installment due under this Sublease shall be paid by wire transfer to on the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) Commencement Date. If the Lease Commencement Date or Rent Commencement Date shall be on any day other than is not the first day of a calendar month, then all amounts to Fixed Rent for the period commencing on the Commencement Date and ending on the last day of the month in which the Commencement Date occurs shall be apportioned on the basis of the number of days in said month and shall be paid on such dates the Commencement Date. Fixed Rent and all other amounts payable by Subtenant to Sublandlord under this Sublease (the “Additional Charges”) shall be prorated on a per diem basis. (c) If paid promptly when due, without notice or demand therefor, and without deduction, counterclaim or setoff of any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required amount or for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) daysreason whatsoever. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) Charges shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided to Sublandlord in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration lawful money of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto United States at the address of Sublandlord set forth at the head of this Sublease or to such other person and/or at such other address as are provided herein or Sublandlord may from time to time designate by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by TenantSubtenant.

Appears in 1 contract

Sources: Sublease (Critical Path Inc)

Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant for the Premises (the “Fixed Rent”) at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts annual rates set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2Exhibit E annexed hereto. Fixed Rent shall be due and payable by Tenant in equal monthly installments in advance commencing on the Commencement Date (subject to the last sentence herein) and thereafter on the first day of each calendar month thereafter during the Term, at Landlord’s address set forth above, or at such other address as Landlord may specify by at least thirty (30) days’ written notice to Tenant from time to time; provided however; if the Commencement Date and/or the Rent Commencement Date (as applicable) shall occur on a date other than the first (1st) day of any calendar month, then the first monthly installment of Fixed Rent that becomes due on the Commencement Date and/or the Rent Commencement Date (as applicable), prorated to the end of said calendar month (or if such first day is not a business day, based on the first business day actual number of each days in said calendar month), commencing shall be payable on the Commencement Date and/or the Rent Commencement Date (as applicable). Notwithstanding anything contained in this Section 2.01 or elsewhere in this Lease to the contrary, Landlord hereby waives payment of Fixed Rent Commencementfor (i) the entire Premises other than the 4th floor portion of the Premises pursuant to, during without limitation, Sections 2.03 and 2.04 hereof for the Term period from and including the Commencement Date until and including the date which is the same date in the sixteenth (each 16th) month following the Commencement Date as the date of the Commencement Date (such date being referred to herein as a date, the Due Rent Commencement Date”). Notwithstanding ; (ii) the foregoingfourth (4th) floor portion of the Premises for the period from and including the Commencement Date until and including the date which is the same date in the eighth (8th) month following the Commencement Date as the date of the Commencement Date (such date, the “4th Floor Rent Commencement Date”) and (iii) the fifth (5th) floor portion of the Premises for the period from the Date of Rent Commencement Date until Tenant and including the date which is notified otherwise the same date in the sixteenth (16th) month following the Rent Commencement Date (such date, the “5th Floor Rent Commencement Date”) provided however that should there be three Events of Default (as hereinafter defined) during the first sixteen months of the Term, then from and after the date of the third Event of Default all payments due and payable from and after such third Event of Default shall not be waived by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums dates due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Lease (Peloton Interactive, Inc.)

Fixed Rent. Escalation Rent. (a) Commencing as of thirty (30) days following the Sublease Commencement Date, if the Sublease Commencement Date shall occur on or before December 26, 1996, or forty-five (45) days following the Sublease Commencement Date if the Sublease Commencement Date shall occur after December 26, 1996, (the "Sublease Rent Commencement Date"), Tenant Sublessee shall pay Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, Sublessor for the Fixed Rent shall be due and payable Demised Premises fixed rent in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be amount of $250,780 per annum in equal monthly installments due and payable in advance on the first day of each calendar month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”)the "Sublease Fixed Rent") . Notwithstanding Provided that Sublessee is not in default under this Sublease, the foregoing, Sublease Fixed Rent payable for the period from the Sublease Commencement Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Sublease Rent Commencement Date shall be abated. Nothing in this paragraph shall affect the amounts payable by Sublessee pursuant to Article 6 of this Sublease. All installments of the Sublease Fixed Rent (and any additional rent payable by Sublessee to Sublessor hereunder) shall be paid by check, drawn on any day a member bank of the New York Clearinghouse Association, to the order of Sublessor and shall be delivered or mailed to Sublessor at its address first above set forth, or at such other address as Sublessor may from time to time in writing designate. If the date on which Sublessee's obligation to pay the Sublease Fixed Rent or additional rent shall commence on a date other than the first day of a calendar month, then all amounts to be paid on such dates month or shall be prorated end on a per diem basis.date other than the last day of a calendar (cb) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant Sublessee shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date its proportionate share of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant Sublessor pursuant to a third (3rd) party (i.e.the Underlying Lease, utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) except that the base "Operating Expenses" as defined in Section 3.5 of the Underlying Lease shall be paid the Operating Expenses (as defined in the Underlying Lease) for the calendar year l997. Sublessee is aware that real estate taxes are includes in the Operating Expenses. The parties acknowledge that, in keeping with the Underlying Lease; (i) commencing in December 1997, Sublessor shall provide Sublessee with "Sublessor's Estimate" which shall be the functional equivalent and when calculated in the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rdmanner as "Landlord's Estimate" as provided in Section 3.5(2)(iii) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers Underlying Lease; and remedies with respect thereto as are provided herein or by Law in the case of non-(ii) Sublessee's first payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration Sublessee's Percentage of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice estimated Operating Expenses shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by TenantJanuary 1998.

Appears in 1 contract

Sources: Sublease (Sapient Corp)

Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant shall covenants and agrees to pay a Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable of $6,000 in advance on the first (1st) day of each month (the term and without notice, demand, abatement, deduction, counterclaim, setoff, defense or if such first day is not a business dayotherwise, in lawful money of the first business day of each month)United States, commencing on the Date of Rent Commencement, during to Landlord at Landlord’s address throughout the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease.Lease as follows: (b) If the Lease Commencement Date or Rent Commencement Date shall be on any is a day other than the first day of a calendar month, then all amounts to be paid on such dates the Fixed Rent from the Lease Commencement Date until the first day of the following month shall be prorated on a per diem basisbasis at the rate of one- thirtieth (1/30th) of the monthly installment of Fixed Rent payable. (c) If any installment of In addition to the Fixed Rent is not to be paid on the respective Due Dateas herein provided, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Ratepay, accruing from the Due Date of such payment until the same is paid; provided, howeveras Additional Rent, the foregoing obligation cost of any late charges and interest charges as set forth in subsection (e) below, any insufficient fund charges for bounced checks, any court costs and reasonable and actual attorneys' fees for enforcing Tenant's obligations under this Lease, and other costs and expenses as specified in Section 15(a). Tenant's obligations to pay make the Default Rate shall not be payments required for the first late payment of Fixed Rent in any calendar year so long by this Section 4(c) as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollarssurvive any termination of this Lease by lapse of time or otherwise. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Any Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be Landlord under this Lease that is not paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than within ten (10) days after notice the same is due will be automatically subject to Tenant a late payment charge of ten (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary10%) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunderdelinquent amount, in each case paid instance, to cover Landlord's additional administrative costs. In addition to the late charge set forth above, Tenant shall also be required to pay interest on all such unpaid sums, at a per annum rate equal to Eight percent (8%) ("Default Rate") on all such outstanding charges of Rent, with said interest charges, as applicable, to be payable on the first (1st) day of each month throughout the Term of this Lease, without further notice or demand therefor by Landlord or Lender on behalf of Tenant, Landlord. Such late charges and interest will be due and payable as set forth herein and will accrue from the date that such Rent (including late charges and interest) sums are payable under the provisions of payment this Lease until actually paid by ▇▇▇▇▇▇. The right of Landlord or Lender until repaid by Tenantto charge a late charge and interest with respect to past due installments of Rent is in addition to Landlord's rights and remedies upon an Event of Default.

Appears in 1 contract

Sources: Lease Agreement

Fixed Rent. (a) Commencing as of ▇▇▇▇▇▇ agrees to pay to Lessor the annual net rental for the Premises from the Rent Commencement DateDate and thereafter during the Primary Term in amounts equal to the Annual Net Fixed Rent set forth on the Cover Page of this Lease for the related year of the Primary Term (where each such lease year is a full twelve-month period commencing on the first day of the month in which Fixed Rent is payable hereunder), Tenant which Lessee agrees to pay to Lessor in equal monthly installments, each in advance, on the first day of each and every calendar month during the Primary Term of this Lease provided, however, that in the event that the Rent Commencement Date shall occur on a date other than the first day of a month, ▇▇▇▇▇▇ agrees to pay Fixed Rent in advance on a per diem basis from the Rent Commencement Date to Landlord, or Landlord’s designee as designated the end of such month in a written notice an amount equal to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter $1,205.32/day provided, the further, however that such obligation to pay Fixed Rent may be offset by any Fixed Rent holiday to which the Lessee is entitled pursuant to Section 1(c) hereof. Subject to Section 3(b) hereof, upon the exercise of the initial or subsequent Renewal Options and determination of the respective Fair Market Rentals for the Premises for the applicable Renewal Term pursuant to Section 23 hereof, Lessee agrees to pay to Lessor 100% of such Fair Market Rental, which shall be due and payable in the amounts set forth on Schedule 2 hereto a net basis, for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable related Renewal Term in equal monthly installments in advance on the first day of each and every calendar month (or if during such Renewal Term of this Lease. The first day is not a business day, the first business day full month of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently Lessee simultaneously with the execution and delivery hereof by ▇▇▇▇▇▇. The foregoing installments of net rent set forth on the Cover Page of this Lease. (b) If Lease under the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar monthheader, then all amounts Fixed Rent, are herein collectively referred to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of as "Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) daysRent". All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required rent due or to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent become due to Landlord (or its designee) hereunder shall be paid directly to Lessor at its address first above written, unless Lessor shall designate some other payee or address for the payment thereof by Tenant within thirty (30) days after Landlord gives giving written notice to that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant effect to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc▇▇▇▇▇▇.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Corporate Realty Income Fund I L P)

Fixed Rent. (aA) Commencing as of the Rent Commencement Date, Tenant Sublessee shall pay Fixed Rent to LandlordSublessor, or Landlord’s designee as designated during the term of this Sublease, an annual rental (“fixed rent”) Four Hundred Seventy-Three Thousand Six Hundred and 00/100 ($473,600.00) Dollars per annum, payable in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenantequal monthly installments of $39,466.67. Except as hereinafter providedNotwithstanding the foregoing, the Fixed Rent there shall be due no fixed rent payable for (i) the period commencing on the Commencement Date to and payable in including October 31, 2004 and (ii) the amounts periods set forth on Schedule 2 annexed hereto for (collectively, the respective periods shown on such Schedule 2“Concession Period”). Fixed Rent Sublessee’s use of the demised premises during the Concession Period, shall be due subject to all the terms and payable in advance condition of this Sublease (including without limitation Sublessee’s obligation to pay additional rent), except for Sublessee’s obligation to pay fixed rent. (B) Each monthly installment of fixed rent shall be paid on the first day of each and every calendar month (or if such first day is not during the term of this Sublease by check drawn on a business daybank with an office in New York City at which the check can be presented for payment, except that a check for the first business day full monthly installment of each monthfixed rent shall be deposited in escrow with Sublessee’s counsel, Sadis & ▇▇▇▇▇▇▇▇, LLC (“Escrow Agent”), commencing and Escrow Agent shall release such check to Sublessor upon its receipt of a copy the Sublease Consent executed by Underlying Landlord. The fixed rent for any month of the term of this Sublease which does not begin or end on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date first or Rent Commencement Date shall be on any day other than the first last day of a calendar month, then all amounts to be paid on such dates month shall be prorated on a per diem basisdaily basis in accordance with the fixed rent due for the calendar month. All fixed rent, additional rent (as hereinafter defined) and other sums and charges due to Sublessor under this Sublease shall be paid by Sublessee at the office of Sublessor set forth above, or at such other place as Sublessor may designate, without any notice, setoff or deduction whatsoever. Sublessee’s obligation to make such payments shall survive the Expiration Date or sooner termination of this Sublease. (cC) All other costs and expenses which Sublessee assumes or agrees to pay pursuant to this Sublease shall be deemed “additional rent” and, in the event of non-payment, Sublessor shall have all the rights and remedies herein provided for in case of non-payment of fixed rent. If Sublessee shall fail to pay any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than fixed rent or additional rent within a period of ten (10) daysdays after the due date of the installment in question, Sublessee shall also pay to Sublessor a late charge equal to one (1%) percent per month of the overdue amount, such late charge to be payable as additional rent hereunder. All Fixed Rent and Additional Rent The payment of such late charge shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, addition to all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers rights and remedies with respect thereto as are provided herein or by Law available to Sublessor in the case of non-payment of fixed rent. (D) Other than the Excluded Provisions, if Sublessor shall be charged with respect to the demised premises for any Fixed Rent and shall, except as expressly provided herein, have other sums or charges pursuant to the right (after the expiration provisions of the applicable cure periods thereof)Underlying Lease, not sooner than including, without limitation, for overtime or other extra services requested by Sublessee, then Sublessee shall be liable for all such sums and charges as additional rent under this Sublease and such sums shall be due and payable by Sublessee to Sublessor within ten (10) days after of Sublessee’s receipt of written notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by TenantSublessor.

Appears in 1 contract

Sources: Sublease Agreement (Ampex Corp /De/)

Fixed Rent. (a) Commencing as A. During the Term, Tenant agrees to pay to Landlord an annual fixed minimum rent, in lawful money of the Rent Commencement DateUnited States, Tenant shall pay Fixed Rent to Landlord, or Landlord’s designee in the amounts as designated set forth in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedExhibit K (collectively, the "Fixed Rent"). B. Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable equal monthly installments in advance on the first day of each month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term commencing upon the Commencement Date, subject to the terms and provision set forth in Exhibit K-2 attached hereto, without any setoff or deduction whatsoever (each such date being referred to herein as a “Due Date”). Notwithstanding except that the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent first full monthly installment thereof shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with on the execution and delivery of this Lease. (b) If ). In the Lease Commencement Date or Rent event that the Commencement Date shall be occur on any a day other than the first day of a calendar month, then all amounts to be paid on the Fixed Rent for such dates month shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and C. Recurring Additional Rent shall be payable in U.S. Dollarsequal monthly installments in advance on the first day of each month during the Term commencing upon the date(s) set forth herein without any setoff or deduction whatsoever (except as otherwise expressly provided herein). In the event that any of such dates shall occur on a day other than the first day of a calendar month, such Recurring Additional Rent for such month shall be prorated on a per diem basis. (d) Commencing as D. All Fixed Rent and Recurring Additional Rent that are payable under this Lease shall be payable in lawful money of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required United States by wire transfer or electronic payments made through the Automated Clearing House network of immediately available funds to pay pursuant such account as Landlord may from time to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added time direct in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”)writing. All Additional Rent due to Landlord (or its designeeother than Recurring Additional Rent) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided payable in this Lease, in which case, lawful money of the Additional Rent United States and shall be paid either by (a) wire transfer or electronic payments made through the Automated Clearing House network of immediately available funds to such account as otherwise so providedLandlord may from time to time direct in writing or (b) a check of Tenant drawn on a bank which is a member of The Clearing House Payments Company L.L.C. (or any successor thereto) which is remitted to such address as Landlord may from time to time direct in writing. Unless otherwise provided herein, Failure to pay Fixed Rent and/or Additional Rent payable in the manner set forth above shall be deemed a material default by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etcunder this Lease.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Progenics Pharmaceuticals Inc)

Fixed Rent. (a) Commencing Prepaid Fixed Rent will be prorated as of the Rent Commencement Date, Tenant shall pay Proration Date with Seller being entitled to Fixed Rent for the Proration Date and Purchaser being entitled to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2thereafter. All other Fixed Rent shall be due and payable in advance which is delinquent on the first day of each month (or if Proration Date will not be prorated. All such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment arrearages of Fixed Rent is not paid unpaid on the respective Due DateProration Date will remain the sole and exclusive property of Seller after Closing, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation if, after Closing, Seller shall receive any such delinquent Fixed Rent, Seller will remit to pay the Default Rate shall not be required for the first late payment Purchaser that portion of such delinquent Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a that is attributable to the period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of after the Lease Commencement Proration Date, if any. Seller shall retain all taxesright, coststitle, expenses, power and other amounts which Tenant is required authority to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late enforce payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shallClosing, except as expressly provided herein, that Seller will not have the right to terminate the Lease of a delinquent tenant after Closing due to such delinquency. Seller is currently in litigation in the Circuit Court of C▇▇▇ County wherein Seller or the managing agent of Seller is Plaintiff and B▇▇▇▇▇▇▇'▇ Corporation, a corporation, is the Defendant. Bruegger's formerly occupied Space B-11 at the Property, has vacated the Property and possession of said Property is now in Plaintiff. Seller will transfer possession of Space B-11 to Purchaser along with all of the remaining Space in the Property at Closing in accordance with the terms of this Agreement and shall retain all rights to the aforedescribed litigation. Copies of all relevant pleadings shall be forwarded to Purchaser and Seller's indemnities provided for hereinafter shall relate to this litigation. If, after Closing, Purchaser or its designee shall receive any delinquent Fixed Rents (this provision shall not relate to percentage rents) Purchaser may first apply such payments to rent delinquencies which relate to any period after the expiration of the applicable cure periods thereof)Proration Date, not sooner than ten (10) days after notice to Tenant (except in the event of an emergencyand Purchaser agrees, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of on its intent to do so, to pay the same behalf and on behalf of Tenantits designee, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay immediately remit the balance to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by TenantSeller.

Appears in 1 contract

Sources: Purchase Agreement (Ids JMB Balanced Income Growth LTD)

Fixed Rent. 3.1 Subject to any Tenant Delay (a) Commencing as of the Rent Commencement Datedefined in Section 10.6), Tenant shall pay fixed rent (the “Fixed Rent”) beginning on the earlier of: (a) December 1, 2014; or (b) the date upon which the Initial Improvements are Substantially Complete (as such terms are defined in Section 10.6) (the “Rent to LandlordCommencement Date”), or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each calendar month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer term hereof in monthly installments according to the account specified schedule set forth on Exhibit “C” attached hereto and made a part hereof, without prior notice or demand, and without any setoff or deduction whatsoever, in the rent direction letter from advance, at such place as Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) may direct. If the Lease Commencement Date Term shall commence or Rent Commencement Date shall be expire on any day other than the first or last day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any monthly installment of Fixed Rent is not paid on the respective Due Dateand any applicable Additional Rent (as defined in Section 4), Tenant as set forth below, shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date be prorated for each calendar day of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for partial month and the first late payment of Fixed Rent in any calendar (1st) year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Term shall expire on the last day of the full twelfth (12th) calendar month following the Rent Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than . 3.2 If any portion of Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum payable to Landlord hereunder shall be due hereunder when the same shall become due and unpaid for more than five (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (105) days after notice its due date, it shall bear interest at a rate equal to Tenant five percent (except in the event of an emergency5%) per annum. In addition, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay a late charge equal to five percent (5%) of the late payment. If any payment tendered by Tenant shall fail collection on presentment, Tenant shall reimburse Landlord for all charges imposed by Landlord’s bank on account thereof and pay to Landlord a bad check fee equal to $100.00. In no event shall Landlord be deemed to contract for or receive charges by way of interest at the Lease Default Rate on all overdue Additional Rent or otherwise in excess of those permitted by law and other sums due hereunder, any sum paid in each case paid excess of that permitted by Landlord law shall be refunded or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by credited to Tenant.

Appears in 1 contract

Sources: Lease Agreement (Verastem, Inc.)

Fixed Rent. (a) Commencing additional rent and all other charges herein reserved, but no such assignment, subletting, occupancy or collection shall be deemed a waiver of the provisions of this Section 6.1.6, or acceptance of the assignee, subtenant or occupant as tenant, or a release of Tenant from the further performance of the terms, covenants and conditions of this Lease on the part of Tenant to be performed. In such event, after deducting Landlord’s share of the Rent Commencement DateDifferential, equitably determined on a monthly basis, if applicable as hereinafter provided, Landlord agrees to remit to Tenant any excess on a month to month basis. If Landlord’s approval of a sublease or assignment is necessary and Landlord approves a sublease or assignment, and said sublease or assignment is for a total rental amount which on an annualized basis is greater than the Fixed Rent and additional rent due from Tenant to Landlord under this Lease, Tenant shall pay Fixed Rent to Landlord, forthwith upon Tenant’s receipt of each installment of such excess rent, during the term of any approved sublease or Landlord’s designee assignment, as designated additional rent hereunder, in a written notice addition to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be and other payments due and payable in under this Lease, an amount equal to fifty percent (50%) of the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. positive excess between all Fixed Rent shall be and additional rent received by Tenant under the sublease or assignment and the Fixed Rent and the additional rent due hereunder after Tenant has recouped, in full, its reasonable out-of-pocket expenses with respect to such sublease or assignment, including without limitation, reasonable real estate brokerage commissions, utilities expenses, reasonable legal fees, reasonable free rent, reasonable marketing costs and payable in advance on the first day reasonable costs of each month refurbishment of the Premises for such sublease or assignment (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due DateDifferential”). Notwithstanding The Rent Differential shall not include the foregoingsales or rental proceeds received by Tenant in connection with the sale or lease of its personal property to a proposed transferee. In the event the sublease is for less than the full Premises hereunder, the rent payable by Tenant shall be proportionately adjusted in determining the excess (but all expenses to be recouped will be deducted) pro-rated on a square foot basis. Anything contained in the foregoing provisions of this section to the contrary notwithstanding, neither Tenant nor any other person having interest in the possession, use, occupancy or utilization of the Premises shall enter into any lease, sublease, license, concession or other agreement for use, occupancy or utilization of space in the Premises which provides for rental or other payment for such use, occupancy or utilization based, in whole or primarily on the net income or profits derived by any person from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and LenderPremises leased, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date used, occupied or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease utilized (other than Fixed Rentan amount based on a fixed percentage or percentages of receipts or sales), together with every fineand any such purported lease, penaltysublease, interest and cost which may be added in accordance herewith for non-payment license, concession or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) other agreement shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is dueabsolutely void and ineffective as a conveyance of any right or interest in the possession use, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement occupancy or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay utilization of any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration part of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by TenantPremises.

Appears in 1 contract

Sources: Lease Agreement (ConforMIS Inc)

Fixed Rent. If there is any increase in Taxes for any Tax Year, whether during or after such Tax Year, or if there is any decrease in the Taxes for any Tax Year during such Tax Year, Landlord may, and in the case of a decrease in Taxes Landlord shall, furnish a revised Landlord's Tax Statement for any Tax Year affected, and Tenant's Tax Payment for such Tax Year shall be adjusted and, (a) Commencing as within 15 days after Tenant's receipt of the Rent Commencement Datesuch revised Landlord's Tax Statement, Tenant shall (with respect to any increase in Taxes for such Tax Year) pay Fixed Rent the appropriate increase in Tenant's Tax Payment to Landlord, or Landlord’s designee as designated (b) (with respect to any decrease in a written notice to Tenant at Taxes for such address as Tax Year) Landlord shall from time to time designate credit such decrease in Tenant's Tax Payment against the next installment of Escalation Rent payable by written notice to Tenant. Except as hereinafter provided, or if the Fixed overpaid amount exceeds the amount of all remaining Escalation Rent shall be due and payable in the amounts set forth on Schedule 2 hereto under this Lease for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on balance of the first day of each month (Term, or if such first day is not a business dayoverpayment shall be determined after the Expiration Date, Landlord shall pay the first business day amount of each month), commencing on the Date of Rent Commencementsuch overpayment to Tenant within 30 days after demand. If, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoingTerm, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts Taxes are required to be paid (either to the appropriate taxing authorities or as tax escrow payments to the Lessor or the Mortgagee), in full or in semi-annual or quarterly or other installments on such any other date or dates than as presently required, then Tenant's Tax Payments shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment correspondingly accelerated or revised so that Tenant's Tax Payments are due at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within least thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which caseprior to the date payments are due to the taxing authorities, the Additional Rent Lessor or the Mortgagee. Landlord shall notify Tenant of same in writing of such acceleration or revision. The benefit of any discount for any early payment or prepayment of Taxes shall accrue solely to the benefit of Landlord and Taxes shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etccomputed without subtracting such discount.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Ampex Corp /De/)

Fixed Rent. Fixed rent (athe "Fixed Rent") Commencing as is payable by Tenant beginning on the Commencement Date in monthly installments equal to one-twelfth (1/12th) of the Rent Commencement Date, Tenant shall pay total annual Fixed Rent to Landlord, or Landlord’s designee (the "Annual Fixed Rent") payable for the applicable Lease Year as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due in Exhibit "B" attached hereto, without prior notice or demand, and payable without any setoff or deduction whatsoever, in advance advance, on the first day of each month (or if at such first day is not a business dayplace as Landlord may direct, except that the Fixed Rent for the first business day full month of each month), commencing the Lease Term will be paid on the Date date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If . The Annual Fixed Rent set forth herein is an annualized amount. In addition, if the Lease Commencement Date or Rent Commencement Date shall be Term commences on any a day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest to Landlord, on such overdue payment at or before the Commencement Date of the Lease Default RateTerm, accruing from a pro rata portion of the Due monthly installment of rent (including Fixed Rent and any Additional Rent, as hereinafter defined), such pro rata portion to be based on the actual number of calendar days remaining in such partial month after the Commencement Date of the Lease Term. If the Lease Term shall expire on other than the last day of a calendar month, such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment monthly installment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as prorated for each calendar day of such partial month. Upon the second occurrence and those thereafter within any six-month period during the Lease Commencement DateTerm, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than if any portion of Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum payable to Landlord hereunder shall be due hereunder when the same and unpaid for more than ten (10) days, Tenant shall become due (after the expiration pay to Landlord, without notice or demand, a late charge equal to 5% of the applicable cure periods therefor)such overdue amount to partially compensate Landlord for its administrative costs. Tenant acknowledges that such late fee is a reasonable approximation of such costs and does not constitute a penalty. In addition, Landlord shall have all rights, powers amounts overdue and remedies with respect thereto as are provided herein or by Law unpaid in the case excess of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice by Landlord that such amounts are overdue and unpaid shall bear interest at a rate equal to Tenant two percent (except 2%) per annum greater than the prime rate of interest as published in the event of an emergencyWall Street Journal, eastern edition, from time to time (the "Default Rate"), as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts may change from time to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenanttime, from the due date until the date of payment by Landlord or Lender until repaid thereof by Tenant, provided, however, that nothing contained herein or elsewhere in this Lease shall be construed or implemented in such a manner as to allow Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law. Landlord and Tenant understand and agree that memos written on rental checks or any other payment forms delivered to Landlord do not and shall not, throughout the Lease Term hereunder, constitute satisfaction of any current or outstanding debt of Tenant pursuant to this Lease, and, provided further that any such memo shall not preclude Landlord from recovering any balance of any sum or sums due under this Lease. In addition, a letter or similar type statement accompanying any rental check or payment form delivered to Landlord pursuant to this Lease also shall have no force or effect under this Lease as such may relate to the satisfaction of any debt of Tenant hereunder.

Appears in 1 contract

Sources: Lease Agreement (Corporate Office Properties Trust Inc)

Fixed Rent. Fixed rent (athe "Fixed Rent") Commencing as is payable by Tenant beginning on the Commencement Date in monthly installments, each representing one-twelfth (1/12) of the Rent Commencement Date, Tenant shall pay annual Fixed Rent to Landlord, or Landlord’s designee as designated (the "Annual Fixed Rent") in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, accordance with the following schedule: monthly installment of total Annual Annual period of Annual Fixed Rent Fixed Rent per Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2increase cents ($ ) per rentable square foot each year thereafter. Fixed Rent shall be due is payable without prior notice or demand, and payable without any setoff or deduction whatsoever, in advance advance, on the first day of each month (or if at such first day is not a business dayplace as Landlord may direct, except that the Fixed Rent for the first business day full month of each month), commencing the Lease Term will be paid on the Date date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If . The Annual Fixed Rent set forth herein is an annualized amount. In addition, if the Lease Commencement Date or Rent Commencement Date shall be Term commences on any a day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest to Landlord, on such overdue payment at or before the Commencement Date of the Lease Default RateTerm, accruing from a pro rata portion of the Due Date monthly installment of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten rent (10) days. All including Fixed Rent and any Additional Rent shall as hereinafter defined), such pro rata portion to be payable based on the actual number of days in U.S. Dollars. (d) Commencing as that portion of the calendar month from and after the Commencement Date of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Term. If any portion of Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum payable to Landlord hereunder shall be due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner unpaid for more than ten (10) days after notice days, it shall bear interest at a rate equal to Tenant three percent (except 3%) per annum greater than the highest prime rate of interest as published in the event of an emergencyWall Street Journal, eastern edition from time to time (the "Default Rate"), as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts may change from time to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenanttime, from the due date until the date of payment by Landlord or Lender until repaid thereof by Tenant, provided, however, that nothing contained herein or elsewhere in this Lease shall be construed or implemented in such a manner as to allow Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law. Landlord and Tenant understand and agree that memos written on rental checks or any other payment forms delivered to Landlord do not and shall not constitute satisfaction of any current or outstanding debt of Tenant pursuant to this Lease, and, provided further that any such memo shall not preclude Landlord from recovering any balance of any sum or sums due under this Lease. In addition, a letter or similar type statement accompanying any rental check or payment form delivered to Landlord pursuant to this Lease also shall have no force or effect under this Lease as such may relate to the satisfaction of any debt of Tenant hereunder.

Appears in 1 contract

Sources: Lease Agreement

Fixed Rent. Commencing on the date that is one hundred eighty (a180) Commencing as of days following the Commencement Date (the “Rent Commencement Date”), but subject to extension for Landlord Delays in accordance with Exhibit B-1 attached hereto, Tenant shall agrees to pay Fixed Rent to Landlord, or Landlord’s designee as designated and thereafter monthly, in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedadvance, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (or if such first day is not a business day, 1/12) of the Annual Fixed Rent for the Premises specified in Section 1.2 hereof and on the first business day of each monthand every calendar month during the Extended Term (if exercised), commencing on a sum equal to one-twelfth of the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Annual Fixed Rent for the Premises as determined in Section 3.2 for the Extended Term. Until notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by wire remittance to or for the order of Landlord by ACH transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently accordance with the execution and delivery of this Lease. (b) If ACH Directive on Exhibit E. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts the first payment of Annual Fixed Rent which Tenant shall make to be paid on such dates Landlord shall be prorated on a per diem basis. (c) If any installment payment equal to a proportionate part of such monthly Annual Fixed Rent is not paid on for the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing partial month from the Due Commencement Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late day of the succeeding calendar month. Notwithstanding that the payment of Annual Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e.Landlord shall not commence until the Commencement Date, utility chargesTenant shall be subject to, maintenance contractsand shall comply with, supply contracts, vendor contracts, etc.) all other provisions of this Lease as and at the times provided in this Lease. The Annual Fixed Rent and all other charges for which provision is made in this Lease shall be paid as and when the same shall be due and payable pursuant by Tenant to Tenant’s agreement Landlord without setoff, deduction or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, abatement except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantthis Lease.

Appears in 1 contract

Sources: Lease Agreement (X4 Pharmaceuticals, Inc)

Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant shall agrees to pay Fixed Rent to Landlord, without notice or Landlord’s designee as designated demand, in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable equal monthly installments in advance on the first day of each and every calendar month (or if such first day is not a business day, during the Term. Tenant shall pay the first business day monthly installment of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the upon execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be falls on any day other than the first day of a calendar month, then all amounts to be paid on the installment of Fixed Rent for such dates calendar month shall be prorated on a per diem basisbasis (and Tenant shall pay such pro-rated installment on the Commencement Date). (c) Tenant agrees to pay as additional rent (“Additional Rent”) all sums of money, costs, expenses, charges, interest, or fees of every kind or amount whatsoever, other than Fixed Rent, which Tenant has assumed or agreed to pay to Landlord, or which otherwise may become due and payable by Tenant, under this Lease. Additional Rent shall not include, and Tenant shall not be responsible for, any payments on account of real estate taxes or operating expenses for the Building. Unless otherwise specified, Tenant shall pay all Additional Rent within ten (10) days after Landlord’s demand. Landlord shall have the same rights (and remedies) under this Lease for Tenant’s failure to pay any Additional Rent as for Tenant’s failure to pay Fixed Rent. (d) Tenant shall pay Fixed Rent and all Additional Rent in lawful money of the United States by unendorsed check payable to Landlord drawn on a bank located within the continental United States. (e) Tenant shall pay Fixed Rent and all Additional Rent to Landlord at the Rent Payment Address or at such other place as Landlord may designate by notice to Tenant from time to time. (f) 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. (g) If Tenant fails to pay any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date or any amount of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required Additional Rent for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer more than a period of ten (10) days. All Fixed Rent days after the same is due, Tenant shall pay, with the delinquent sum, (a) a late charge equal to 5% of such delinquent installment and Additional Rent shall be payable in U.S. Dollars(b) interest thereon at the Interest Rate from the date when due through the date of payment. (dh) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which If Tenant is fails to make any payment required to pay pursuant to by this Lease (other than Fixed Rent), together with every fineor if Tenant fails to keep or perform any other term, penaltycovenant, interest and cost which may be added in accordance herewith for non-payment condition or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in provision of this Lease, or if this Lease provides in which caseany case that Landlord may take certain actions at Tenant’s expense, Landlord may (at Landlord’s election) make any such payment and/or take such action as Landlord deems necessary or desirable (in Landlord’s judgment) to perform and fulfill such term, covenant, condition or provision. In any such event, Tenant agrees to reimburse Landlord, upon demand, for any such payment, and/or for all amounts so paid or incurred by Landlord (including all Fees-And-Costs), together with interest on each such amount at the Interest Rate from the date of Landlord’s demand. (i) If any Fixed Rent or any Additional Rent shall be paid or become uncollectible by virtue of any Laws, Tenant shall enter into such agreement or agreements and take such other action as otherwise so provided. Unless otherwise provided herein, Landlord may request to permit Landlord to collect the maximum Fixed Rent and Additional Rent which may, from time to time during the continuance of such restriction, be legally permissible (but not in excess of the amounts due under this Lease). Upon the termination of such restriction, (a) Fixed Rent and Additional Rent shall become payable in accordance with the terms of this Lease and (b) Tenant shall pay Landlord, if legally permissible, an amount equal to the Fixed Rent and Additional Rent which would have been payable hereunder but for the restriction, less the amounts paid by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etcLandlord during the period that such rent restriction was in effect.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Stock and Asset Purchase Agreement (Standard Management Corp)

Fixed Rent. A. During the Term, Tenant agrees to pay to Landlord an annual fixed minimum rent, in lawful money of the United States, in the amounts as set forth below (collectively, the “Fixed Rent”): (a) Commencing as [Omitted] ($[Omitted]) per annum ($[Omitted] per month) from the Commencement Date through the last day of the Rent Commencement Date, Tenant shall pay month preceding the month in which the fifth (5th) anniversary of the final day of the Fixed Rent to Landlord, or Landlord’s designee as designated Abatement Period occurs; and (b) [Omitted] Dollars ($[Omitted]) per annum ($[Omitted] per month) from the first day of the month in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, which the fifth (5th) anniversary of the final day of the Fixed Rent Abatement Period occurs through the Expiration Date. B. Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable equal monthly installments in advance on the first day of each month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due commencing upon the Commencement Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer subject to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery last sentence of this Lease. (b) If Section 3.01B, without any setoff or deduction whatsoever. In the Lease Commencement Date or Rent event that the Commencement Date shall be occur on any a day other than the first day of a calendar month, then all amounts the Fixed Rent for such month shall be prorated on a per diem basis. Notwithstanding anything herein to the contrary, so long as Tenant shall not be paid in default under any of the terms and provisions of this Lease, Tenant shall receive a deduction in Fixed Rent (i) in the amount of $[Omitted] for each month of the Fixed Rent Abatement Period, such amount not to exceed an aggregate of $[Omitted], provided, however, that in the event the beginning of the Fixed Rent Abatement Period shall occur on a date other than the first day of a calendar month, such monthly amount shall be prorated on a per diem basis and (ii) in the amount of $[Omitted] for the month following the month in which the expiration of the Fixed Rent Abatement Period occurs. C. Recurring Additional Rent shall be payable in equal monthly installments in advance on the first day of each month during the Term commencing upon the date(s) set forth herein without any setoff or deduction whatsoever (except as otherwise expressly provided herein). In the event that any of such dates shall occur on a day other than the first day of a calendar month, such Recurring Additional Rent for such month shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. D. All Fixed Rent and Recurring Additional Rent that are payable under this Lease shall be payable in U.S. Dollars. (d) Commencing as lawful money of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required United States by wire transfer or electronic payments made through the Automated Clearing House network of immediately available funds to pay pursuant such account as Landlord may from time to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added time direct in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”)writing. All Additional Rent due to Landlord (or its designeeother than Recurring Additional Rent) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided payable in this Lease, in which case, lawful money of the Additional Rent United States and shall be paid either by (a) wire transfer or electronic payments made through the Automated Clearing House network of immediately available funds to such account as otherwise so providedLandlord may from time to time direct in writing or (b) a check of Tenant drawn on a bank which is a member of The Clearing House Payments Company L.L.C. (or any successor thereto) which is remitted to such address as Landlord may from time to time direct in writing. Unless otherwise provided herein, Failure to pay Fixed Rent and/or Additional Rent payable in the manner set forth above shall be deemed a material default by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etcunder this Lease.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Olo Inc.)

Fixed Rent. (a) Commencing as Section 4.01. Throughout the term of the Rent Commencement Datethis Lease, Tenant shall pay pa, Fixed Rent to Landlordin equal monthly installments, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedadvance, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each and every calendar month (or if such first day is not a business dayduring the term of this Lease, except that Tenant shall pay the first business day monthly installment of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to (notwithstanding the account specified in fact that such installment of Fixed Rent is for the rent direction letter from Landlord to Tenant delivered concurrently with month immediately following the Rent Concession Period) upon the execution and delivery of this Lease. (b) If Lease by Tenant. In the Lease Commencement Date or Rent event that the Commencement Date shall be on any day a date other than the first day of a calendar month, then all amounts to be paid on such dates Fixed Rent shall be prorated on a per diem basisfor such period from the Commencement Date to the end of such calendar month. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) daysSection 4.02. All Fixed Rent costs and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease expenses (other than Fixed Rent), together with every fine, penalty, interest ) which Tenant assumes or agrees to pay to Landlord pursuant to this Lease shall be deemed and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is duehereunder, unless otherwise provided and in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration event of the applicable cure periods therefor)nonpayment, Landlord shall have all rights, powers the rights and remedies with respect thereto as are is herein and at law provided herein or by Law for in the case of non-payment nonpayment of any Fixed Rent. Section 4.03. All Fixed Rent and shalladditional rent shall be paid promptly when due, without notice or demand therefor, and without any abatement, deduction or set-off for any reason whatsoever, except as may be expressly provided hereinin this Lease, have and shall be paid in lawful money of the right United States to Landlord or Landlord's agent at such place as Landlord or Landlord's agent may designate by notice to Tenant. Any checks tendered by Tenant in payment of Fixed Rent, additional rent and adjustments of Fixed Rent, shall be either (after a) a teller's or cashier's or of ficial bank check of a bank which is a member of the New York Clearing House Association and shall be payable to the order of Landlord (or Landlord's agent) or (b) Tenant's good, unendorsed check drawn on a bank which is a member of the New York Clearing House Association and payable to the order of Landlord (or Landlord's agent). Section 4.04. If all or any part of the Fixed Rent or additional rent shall at any time become uncollectible, reduced or required to be refunded by virtue of any rules, regulations, orders, laws and ordinances (including, without limitation, rent control or stabilization laws) of governmental or quasi-governmental authorities (collectively, "Laws and Ordinances".), then, for the period prescribed by such Laws and Ordinances, Tenant shall pay to Landlord the maximum amounts permitted pursuant to said Laws and Ordinances. Upon the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event period of an emergency, as reasonably determined by Landlord, in time during which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. shall be uncollectible, reduced or refunded, Tenant shall pay to Landlord all such uncollected, reduced or refunded amounts that would have been payable for such period of time absent such Laws and Ordinances to the extent permitted by law. Section 4.05. In addition to any other remedies Landlord may have under this Lease, if any Fixed Rent or additional rent payable hereunder by Tenant to Landlord are not paid within five (5) days after the date due hereunder, Tenant shall pay to Landlord a late charge equal to the greater of (a) S250.00 or (b) such Fixed Rent or Additional Rent shall bear interest at the Lease Default Rate on all overdue Additional Rent rate of one and other sums due hereunderone-half (1-l/2%) percent per month or the maximum rate permitted by law, in each case paid by Landlord or Lender on behalf of Tenantwhichever is less, from the due date thereof until paid, and the amount of payment by Landlord or Lender until repaid by Tenantsuch interest shall be additional rent hereunder. Section 4.06. Notwithstanding the foregoing, commencing on the Commencement Date, monthly Fixed Rent shall abate for the first twelve (12) calendar months of the Term. The aba▇▇▇▇▇t of monthly Fixed Rent provided herein shall not relieve tenant form the performance of Tenants other obligations under this Lease including the obligation to pay on a timely basis all Rent Adjustment and all other additional rent and other obligations under this Lease, which shall become due and payable during the Term.

Appears in 1 contract

Sources: Lease (New Horizons Worldwide Inc)

Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant shall agrees to pay Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts (as set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in PARAGRAPH F OF THE SUMMARY OF LEASE TERMS) in equal monthly installments in advance on the first day of each calendar month of the term of this Lease without deduction, offset, prior notice or demand, in lawful money of the United States, at the office of Landlord at Landlord's address for notice as specified in PARAGRAPH M OF THE SUMMARY OF LEASE TERMS or at such other place as designated by Landlord (or if such first day the "Fixed Rent"). If the Commencement Date is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent or if the Expiration Date is not paid on the respective Due Datelast day of a month, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) prorated monthly installment shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment at the then current rate for the fractional month during which the Lease commences and/or expires. It is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by responsibility of Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when ensure that the same shall be Rent arrives at the above-mentioned place on or before the due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) partydate. If the due date is a weekend or holiday, then Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when must arrange for earlier delivery. Payments made by mail will be considered late if they do not arrive at the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or place designated by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demandthe designated due date. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent All amounts of Rent, including, without limitation, Fixed Rent, and other sums due hereunderunder this Lease if not paid when due shall (i) bear interest from the due date until paid at a per annum rate equal to the lesser of (x) the maximum rate allowed by law, in each case paid or (y) fifteen percent (15%) (the "Default Rate") until fully paid, and (ii) incur a late charge of five percent (5%) of such unpaid amount. Landlord and Tenant agree that the amount of such interest and late charge is fair and reasonable compensation for costs and expenses incurred by Landlord due to the failure by Tenant to timely make any payment of Rent or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantother sums due under this Lease as such costs and expenses are extremely difficult to estimate and ascertain.

Appears in 1 contract

Sources: Commercial Lease (Antivirals Inc)

Fixed Rent. (a) Commencing as of upon the Rent Commencement Date, Tenant Subtenant shall pay to Sublandlord, without notice, billing, demand, deduction, offset or abatement, in lawful money of the United States of America, fixed rent (“Fixed Rent to Landlord, or Landlord’s designee as designated Rent”) in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the following amounts during the following period of time: Fixed Rent shall be due and payable in paid to the amounts notice address for Sublandlord set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2in Section 14.1 of this Sublease. Fixed Rent shall be is payable in equal monthly installments in the amount of the Monthly Fixed Rent for the applicable time period, and such amount is due and payable in advance on or before the first day of each and every calendar month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term Term, provided, however, that 1 monthly installment of Fixed Rent (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lenderi.e., Fixed Rent shall be paid by wire transfer to for December 2012) is due and payable on the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) Effective Date. If the Lease Commencement Date or Rent Commencement Date shall be on any day other than is not the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any the first monthly installment of Fixed Rent is not paid on shall be prorated based upon the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at number of days during the Lease Default Rate, accruing month from and after the Due Commencement Date until and including the last day of such payment until the same is paid; provided, howevercalendar month in which the Commencement Date occurs. In addition, the foregoing obligation to pay the Default Rate shall not be required for the first late payment monthly installment of Fixed Rent due for any partial month at the end of the Term shall be prorated based upon the number of days remaining in any calendar year so long as such delay in payment does not continue for longer than a period the month from and after the last day of ten (10) daysthe Term. All Notwithstanding anything above to the contrary, Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as conditionally abated during the first four months of the Lease Commencement DateTerm. Commencing with the first day of the fifth month of the Term, Subtenant shall make Fixed Rent payments as otherwise provided herein. Notwithstanding such abatement of Fixed Rent all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to sums due under this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) Sublease shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise payable as provided in this Lease, in which case, Sublease. This abatement of Fixed Rent is conditioned upon Subtenant’s full and timely performance of all of its obligations under the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) partySublease. If Tenant shall fail to pay at any such Additional Rent or time during the Term a default by Subtenant occurs, and said default remains uncured beyond any other sum due hereunder when the same shall become due applicable notice and cure period (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods extensions thereof), not sooner than ten (10) days after notice then the abatement of Fixed Rent provided for in this section shall immediately become void, and Subtenant shall promptly pay to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) addition to all other amounts due to Sublandlord under this Sublease, the full amount of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Fixed Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantherein abated.

Appears in 1 contract

Sources: Sublease (Support.com, Inc.)

Fixed Rent. (a) Commencing as of Tenant agrees to pay to Landlord, on the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlordand thereafter monthly, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedadvance, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (or if such first day is not a business day, 1/12) of the Annual Fixed Rent for the Primary Premises specified in Section 1.2 hereof and one-twelfth (1/12) of the Annual Fixed Rent for the Storage Space and on the first business day of each monthand every calendar month during the Extended Term (if exercised), commencing on a sum equal to one-twelfth of the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Annual Fixed Rent for the Premises as determined in Section 3.2 for the Extended Term. Annual Fixed Rent for any partial month shall be paid by wire transfer Tenant to Landlord at such rate on a pro rata basis, and, if the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts the first payment of Annual Fixed Rent which Tenant shall make to be paid on such dates Landlord shall be prorated a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Rent Commencement Date to the first day of the succeeding calendar month. Additional Rent payable by Tenant on a per diem monthly basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise elsewhere provided in this Lease, in which case, the Additional Rent likewise shall be paid prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence on the Commencement Date and other provisions of this Lease calling for monthly payments shall be read as otherwise so incorporating this undertaking by Tenant, provided, however, that Tenant’s obligation to pay Landlord’s Tax Expenses Allocable to the Premises pursuant to Section 6.2 and Operating Expenses Allocable to the Premises pursuant to Section 7.5 shall not commence until the Rent Commencement Date. Unless otherwise provided herein, Additional Notwithstanding that the payment of Annual Fixed Rent payable by Tenant to a third (3rd) party (i.e.Landlord shall not commence until the Rent Commencement Date, utility chargesTenant shall be subject to, maintenance contractsand shall comply with, supply contracts, vendor contracts, etc.) all other provisions of this Lease as and at the times provided in this Lease. The Annual Fixed Rent and all other charges for which provision is made in this Lease shall be paid as and when the same shall be due and payable pursuant by Tenant to Tenant’s agreement Landlord without setoff, deduction or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, abatement except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenantthis Lease.

Appears in 1 contract

Sources: Lease Agreement (Markforged Holding Corp)

Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant shall agrees to pay Fixed Rent to Landlord, or as directed by Landlord’s designee as designated , at Landlord's Present Mailing Address specified in a written notice to Tenant Section 1.2 hereof, or at such address other place as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providednotice, (1) on the Fixed Rent shall be due applicable Commencement Date, and payable thereafter monthly, in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (or if such first day is not a business day, 1/12) of the Annual Fixed Rent specified in Section 1.2 hereof and (2) on the first business day of each monthand every calendar month during each extension option period (if exercised), commencing on a sum equal to one-twelfth of the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, applicable Annual Fixed Rent as determined in Section 3.2 for the extension option period. Until notice of some other designation is given, Annual Fixed Rent and all other charges for which provision is herein made shall be paid by wire transfer remittance to or to the account specified in order of BOSTON PROPERTIES, INC., Agents at ▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, and all remittances received by BOSTON PROPERTIES, INC., as Agents as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease. (b) If the Lease Commencement Date or Rent applicable Commencement Date shall be on any day other than the first day of a calendar month, then all amounts the first payment which Tenant shall make to be paid on such dates Landlord shall be prorated a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the applicable Commencement Date to the first day of the succeeding calendar month. Other charges payable by Tenant on a per diem monthly basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise elsewhere provided in this Lease, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence on the applicable Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. The Annual Fixed Rent and all other charges for which case, the Additional Rent provision is made in this Lease shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e.Landlord without setoff, utility charges, maintenance contracts, supply contracts, vendor contracts, etcdeduction or abatement.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) party. If Tenant shall fail to pay any such Additional Rent or any other sum due hereunder when the same shall become due (after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Streamline Inc)

Fixed Rent. (aA) Commencing as of For the Rent period commencing on the Commencement Date, Tenant and ending twelve (12) months thereafter (the “Initial Period”), Sublessee shall pay Fixed Rent to LandlordSublessor fixed rent in the amount of $188,125.00 per annum, or Landlord’s designee as designated payable in a written notice monthly installments of $15,677.08 each. For the period commencing on the expiration of the Initial Period, and ending on the Expiration Date, Sublessee shall pay to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedSublessor fixed rent in the amount of $376,250.00 per annum, the Fixed Rent payable in monthly installments of $31,354.17 each. (B) Each monthly installment of fixed rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance paid on the third (3rd) day preceding the first (1st) day of each and every calendar month (or if such first day is not during the term of this Sublease by check drawn on a business daybank with an office in New York City at which the check can be presented for payment, except the first business day full monthly installment of each month), commencing on fixed rent in the Date amount of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent $15,677.08 shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with upon the execution and delivery of this Lease. (b) If Sublease by Sublessee. Should the Lease Commencement Date or Rent Commencement Date shall be occur on any day other than the first day of a calendar month, then all amounts to be paid on the monthly installment of fixed rent for the unexpired portion of such dates month shall be prorated adjusted on a per diem basisbasis and any overpayment of a monthly installment of fixed rent shall be credited against the next monthly installment of fixed rent. All fixed rent, additional rent (as hereinafter defined) and other sums and charges due to Sublessor under this Sublease shall be paid by Sublessee at the office of Sublessor set forth above, or at such other place as Sublessor may designate, without any notice, setoff or deduction whatsoever. Sublessee's obligation to make such payments shall survive the Expiration Date or sooner termination of this Sublease. (cC) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent other costs and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts expenses which Tenant is required Sublessee assumes or agrees to pay pursuant to this Lease (other than Fixed Rent)Sublease shall be deemed "additional rent" and, together with every finein the event of non-payment, penalty, interest Sublessor shall have all the rights and cost which may be added remedies herein provided for in accordance herewith for case of non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same shall be due and payable pursuant to Tenant’s agreement or other arrangement with the applicable third (3rd) partyof fixed rent. If Tenant Sublessee shall fail to pay any such Additional Rent installment of fixed rent or any other sum due hereunder when the same shall become due additional rent within a period of seven (7) days after the expiration due date of the applicable cure periods therefor)installment in question, Landlord Sublessee shall have also pay to Sublessor a late charge equal to the lesser of (i) six (6%) percent above the rate of interest announced publicly from time to time in New York, New York by the Chase Manhattan Bank, N.A. as its prime rate of interest, and (ii) the maximum legal rate then permitted, in either case, from the date the payment was due until paid, and such late charge shall be payable as additional rent hereunder. The payment of such late charge shall be in addition to all rights, powers other rights and remedies with respect thereto as are provided herein or by Law available to Sublessor in the case of non-payment of fixed rent. (D) If Sublessor shall be billed for any Fixed Rent and shall, except as expressly provided herein, have other sums or charges pursuant to the right (after the expiration provisions of the applicable cure periods thereof)Underlying Lease, not sooner than including, without limitation, for overtime or other extra services requested by Sublessee, then Sublessee shall be liable for all such sums and charges as additional rent under this Sublease and such sums shall be due and payable by Sublessee to Sublessor within ten (10) days Business Days after notice to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior notice shall not be necessary) of its intent to do so, to pay the same on behalf of Tenant, and Tenant shall repay such amounts to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenant, from the date of payment by Landlord or Lender until repaid by Tenant.

Appears in 1 contract

Sources: Sublease Agreement (Pzena Investment Management, Inc.)

Fixed Rent. Fixed rent (athe “Fixed Rent”) Commencing as is payable by Tenant beginning on the Commencement Date in monthly installations each equal to (See Rent Schedule - Rider#l), representing one-twelfth (1/12) of the Rent Commencement Date, Tenant shall pay annual Fixed Rent (the “Annual Fixed Rent”) equal to Landlord(See Rent Schedule - Rider#l), without prior notice or Landlord’s designee as designated demand, and without any setoff or deduction whatsoever, in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter providedadvance, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month at such place as Landlord may direct. Annual Fixed Rent shall include the Operating Expense Allowance as set forth in Section I (or if such first day is not a business day, the first business day 1) of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a Exhibit Due Date”)C” hereto. Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Annual Fixed Rent shall be paid by wire transfer subject to the account specified adjustment as provided in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery Section II of this Lease. (b) If Exhibit “C” hereto. In addition, if the Lease Commencement Date or Rent Commencement Date shall be Term commences on any a day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis. (c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest to Landlord, on such overdue payment at or before the Commencement Date of the Lease Default RateTerm, accruing from a pro rata portion of the Due monthly installment of rent (Including Fixed Rent and any Additional Rent as herein provided), such pro rata portion to be based on the actual number of calendar days remaining in such partial month after the Commencement Date of the Lease Term. If the Lease Term shall expire on other than the last day of a calendar month, such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment monthly installment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars. (d) Commencing as prorated for each calendar day of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than such partial month. If any portion of Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due , or any other sum payable to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3rd) party (i.e., utility charges, maintenance contracts, supply contracts, vendor contracts, etc.) shall be paid as and when the same hereunder shall be due and payable pursuant unpaid for more than five (5) days, the balance due shall be subject to Tenant’s agreement or other arrangement with the applicable third (3rd) partyand include a 10 percent penalty. If Tenant shall fail to pay In addition, if any such portion of Fixed Rent, Additional Rent or any other sum payable to Landlord hereunder shall be due hereunder when the same shall become due and unpaid for more than five (5) days after the expiration of the applicable cure periods therefor), Landlord shall have all rights, powers and remedies with respect thereto as are provided herein or by Law in the case written notice of non-payment of any Fixed Rent and shall, except as expressly provided herein, have the right (after the expiration of the applicable cure periods thereof), not sooner than ten (10) days after notice by Landlord to Tenant (except in the event of an emergency, as reasonably determined by Landlord, in which case prior written notice shall not be necessaryrequired more than two times in any period of twelve (12) consecutive months), it shall thereafter bear interest at a rate equal to three percent (3%) per annum greater than the highest prime rate of interest announced from time to time by NationsBank (or its intent to do sosuccessor) (the “Default Rate”), to pay as the same on behalf of Tenant, and Tenant shall repay such amounts may change from time to Landlord on demand. Tenant shall pay to Landlord interest at the Lease Default Rate on all overdue Additional Rent and other sums due hereunder, in each case paid by Landlord or Lender on behalf of Tenanttime, from the due date until the date of payment by Landlord or Lender until repaid thereof by Tenant, provided, however, that nothing herein contained shall be construed or implemented in such a manner as to allow Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law.

Appears in 1 contract

Sources: Lease Agreement (Sinclair Broadcast Group Inc)