Fixed Rent. Tenant agrees to pay to Landlord, commencing on the Rent Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. 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 shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be 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 monthly basis, as 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 Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.
Appears in 2 contracts
Samples: Agreement (Decibel Therapeutics, Inc.), Agreement (Decibel Therapeutics, Inc.)
Fixed Rent. Tenant agrees to pay to Landlord, commencing on the Rent Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th1/12th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent as determined in Section 3.2 for the Extended Term1.1 hereof. 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 remittance to or for the order of Landlord Boston Properties Limited Partnership, as follows: c/o Samuels & Associatesagent of Landlord. All remittances received by BOSTON PROPERTIES LIMITED PARTNERSHIP, 000 Xxxxxxx Xxxxxxas agent as aforesaid, Xxxxxxor by any subsequently designated recipient, Xxxxxxxxxxxxx 00000shall 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 Commencement Date shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be 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 monthly basis, as 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 Rent Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess Rent payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the The Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.
Appears in 2 contracts
Samples: Lease Agreement (SEMrush Holdings, Inc.), Lease Agreement (SEMrush Holdings, Inc.)
Fixed Rent. Fixed rent (the "Fixed Rent") is payable by Tenant agrees to pay to Landlord, commencing beginning on the Commencement Date in monthly installments equal to one-twelfth (1/12th) of the total annual Fixed Rent Commencement Date(the "Annual Fixed Rent") payable for the applicable period as set forth in Exhibit "B" attached hereto, without prior notice or demand, and thereafter monthlywithout any setoff or deduction whatsoever, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the at such place as Landlord may direct. The Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent as determined in Section 3.2 for the Extended Termset forth herein is an annualized amount. 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, andIn addition, if the Rent Commencement Date shall be Lease Term commences on a day other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make pay to Landlord shall be 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 Landlord, on a monthly basis, as 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 or before the Commencement Date of the Lease Term, a pro rata portion of the 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 provisions than the last day of this Lease calling for a calendar month, such monthly payments installment of Fixed Rent and Additional Rent shall be read as incorporating this undertaking by Tenantprorated for each calendar day of such partial month. Notwithstanding that Upon the payment second occurrence and those thereafter within any six-month period during the Lease Term, if any portion of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent or any other sum payable to Landlord hereunder shall be due and unpaid for more than ten (10) days, Tenant shall pay to Landlord, without notice or demand, a late charge equal to 5% of 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, all other charges for which provision is made amounts overdue and unpaid in excess of ten (10) days after notice by Landlord that such amounts are overdue and unpaid shall bear interest at a rate equal to two percent (2%) per annum greater than the prime rate of interest as published in the Wall Street Journal, eastern edition, from time to time (the "Default Rate"), as the same may change from time to time, from the due date until the date of payment thereof by Tenant, provided, however, that nothing contained herein or elsewhere in this Lease shall be paid 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 without setoffdo not and shall not, deduction throughout the Lease Term hereunder, constitute satisfaction of any current or abatementoutstanding 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
Samples: Agreement of Lease (Corporate Office Properties Trust Inc)
Fixed Rent. Fixed rent (the “Fixed Rent”) is payable by Tenant agrees to pay to Landlord, commencing in monthly installments in the amounts set forth in the Rent Schedule attached hereto as Rider No. 1. Fixed Rent is payable by Tenant beginning on the Rent Commencement Dateearlier to occur of September 15, 2002, or the date that Tenant commences its broadcast operation, and thereafter monthlyis payable without prior notice or demand, and without any setoff or deduction whatsoever, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent at such place 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000may direct. Annual Fixed Rent for any partial month shall include the Operating Expense Allowance as set forth in Section 1 of Exhibit “C” hereto. Annual Fixed Rent shall be paid by Tenant subject to Landlord at such rate on a pro rata basis, andadjustment as provided in Section 2 of Exhibit “C” hereto. In addition, if the Rent Commencement Date shall be Lease Term commences on a day other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make pay to Landlord shall be 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 Landlord, on a monthly basis, as 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 or before the Commencement Date of the Lease Term, a pro rata portion of the 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 provisions than the last day of this Lease calling for a calendar month, such monthly payments installment of Fixed Rent and Additional Rent shall be read as incorporating this undertaking by Tenantprorated for each calendar day of such partial month. Notwithstanding that the payment If any portion of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess Additional Rent, or any other sum payable by Tenant to Landlord hereunder shall not commence until be due and unpaid for more than five (5) days, the Rent Commencement Date, Tenant balance due shall be subject toto and include a ten percent (10%) penalty. In addition, and shall comply with, all other provisions if any portion of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all or any other charges for which provision is made in this Lease sum payable to Landlord hereunder shall be paid due and unpaid for more than five (5) days after written notice of non-payment by Landlord to Tenant (which written notice shall not be required 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 Bank of America (or its successor) (the “Default Rate”), as the same may change from time to time, from the due date until the date of payment thereof by Tenant, provided, however, that nothing herein contained shall be construed or implemented in such a manner as to allow Landlord without setoff, deduction to charge or abatementreceive interest in excess of the maximum legal rate then allowed by law.
Appears in 1 contract
Fixed Rent. Tenant agrees to pay to Landlord, commencing on the Rent Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. 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 shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be 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 monthly basis, as 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 Commencing on the Commencement Date and continuing through the Expiration Date, Subtenant shall pay fixed rent (“Fixed Rent”) to Sublandlord at the rates set forth below. Sublease Months Rental Rate per Rentable Square Foot Annual Fixed Rent Monthly Fixed Rent 1 – 60 ** $77.00 $7,107,562.00 $592,296.83 61 – End of Term $81.00 $7,476,786.00 $623,065.50 **Notwithstanding anything to the contrary contained herein, as long as Subtenant is not in default of its obligations hereunder, Subtenant shall be entitled to an abatement of Fixed Rent in the total amount of Six Million Five Hundred Eight- Four Thousand Four Hundred Ninety-Four and 67/100 Dollars ($6,584,494.67) (the “Total Abatement”), to be applied as follows: commencing on the Commencement Date, and for each month thereafter, Sublandlord shall apply the Total Abatement against each monthly installment of Fixed Rent otherwise payable by Subtenant pursuant to this Sublease until the Total Abatement is exhausted (said period of abated Fixed Rent, the “Fixed Rent Abatement Period”). The date immediately following the expiration of the aforementioned Fixed Rent Abatement Period is hereinafter referred to as the “Rent Commencement Date”. The abatement of Fixed Rent described above (i.e., the Total Abatement) is (a) applicable to Fixed Rent only and, therefore, all Additional Rent and other costs and charges specified herein shall remain as due and payable pursuant to the provisions of this Lease calling for monthly payments Sublease; and (b) expressly conditioned on there being no Default on the part of Subtenant under the Sublease throughout the Term. Accordingly, if there is a Subtenant Default under this Sublease, and such default results in a termination of this Sublease prior to the expiration of the Term hereof, then Subtenant shall pay to Sublandlord, in addition to all other amounts and damages to which Sublandlord is entitled as a result of said default by Subtenant, the unamortized portion of full amount of the Total Abatement which is attributable to the unexpired portion of the Term as of the effective date of Sublease termination. Fixed Rent shall be read as incorporating payable on the first (1st) calendar day of each calendar month during the Term. An amount equal to one (1) month’s Fixed Rent shall be due upon the execution of this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed RentSublease, Operating Expenses Allocable and shall be applied to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until first (1st) installment of Fixed Rent due following the Rent Commencement Date. In addition, Tenant if Rent Commencement Date is a date other than the first (1st) day of a month, Fixed Rent for such period shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Leaseappropriately prorated. Except as expressly otherwise set forth in this Lease, the Annual All Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord Sublandlord, without setoffnotice, demand, abatement, deduction or abatementoffset, in lawful money of the United States.
Appears in 1 contract
Samples: Sublease Agreement (Braze, Inc.)
Fixed Rent. Tenant agrees to pay to Landlord, commencing or as directed by Landlord, at Landlord's Present Mailing Address specified in Section 1.2 hereof, or at such other place as Landlord shall from time to time designate by notice, (1) on the Rent applicable Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th1/12) of the Annual Fixed Rent specified in Section 1.2 hereof and (2) on the first day of each and every calendar month during the Extended Term each extension option period (if exercised), a sum equal to one-twelfth of the applicable Annual Fixed Rent as determined in Section 3.2 for the Extended Termextension option period. Until written notice of some other designation is given, fixed rent Annual Fixed Rent and all other charges for which provision is herein made shall be paid by remittance to or for to the order of Landlord as follows: c/o Samuels & AssociatesBOSTON PROPERTIES, 000 Xxxxxxx INC., Agents at 0 Xxxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000, 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 applicable Commencement Date shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Rent applicable Commencement Date to the first day of the succeeding calendar month. Additional Rent Other charges payable by Tenant on a monthly basis, as 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. Notwithstanding that the payment of The Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.
Appears in 1 contract
Samples: Streamline Inc
Fixed Rent. Fixed rent (the "Fixed Rent") is payable by Tenant agrees to pay to Landlord, commencing beginning on the Commencement Date in monthly installments equal to one-twelfth (1/12th) of the total annual Fixed Rent Commencement Date(the "Annual Fixed Rent") payable for the applicable Lease Year as set forth in Exhibit "B" attached hereto, without prior notice or demand, and thereafter monthlywithout any setoff or deduction whatsoever, in advance, on the first day of each and every calendar month during at such place as Landlord may direct, except that the Original Lease Term, a sum equal to one-twelfth (1112th) Fixed Rent for the first full month of the Lease Term will be paid on the date of execution of this Lease. The Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent as determined in Section 3.2 for the Extended Termset forth herein is an annualized amount. 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, andIn addition, if the Rent Commencement Date shall be Lease Term commences on a day other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make pay to Landlord shall be 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 Landlord, on a monthly basis, as 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 or before the Commencement Date of the Lease Term, a pro rata portion of the 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 provisions than the last day of this Lease calling for a calendar month, such monthly payments installment of Fixed Rent and Additional Rent shall be read as incorporating this undertaking by Tenantprorated for each calendar day of such partial month. Notwithstanding that Upon the payment second occurrence and those thereafter within any six-month period during the Lease Term, if any portion of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent or any other sum payable to Landlord hereunder shall be due and unpaid for more than ten (10) days, Tenant shall pay to Landlord, without notice or demand, a late charge equal to 5% of 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, all other charges for which provision is made amounts overdue and unpaid in excess of ten (10) days after notice by Landlord that such amounts are overdue and unpaid shall bear interest at a rate equal to two percent (2%) per annum greater than the prime rate of interest as published in the Wall Street Journal, eastern edition, from time to time (the "Default Rate"), as the same may change from time to time, from the due date until the date of payment thereof by Tenant, provided, however, that nothing contained herein or elsewhere in this Lease shall be paid 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 without setoffdo not and shall not, deduction throughout the Lease Term hereunder, constitute satisfaction of any current or abatementoutstanding 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
Samples: Agreement of Lease (Corporate Office Properties Trust Inc)
Fixed Rent. Tenant agrees to pay to Landlord, commencing on the Rent Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th1/12) 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 day of each and every calendar month 0000 Xxxx Xxxxxx Xxxxxx Xxxxxxxx, Inc. Lease during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent for the Premises 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. 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 shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be 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 monthly basis, as 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 Commencement Date and other provisions of this Lease calling for monthly payments shall be read as 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. Notwithstanding that the payment of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess Rent payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the The Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatementabatement except as expressly provided in this Lease.
Appears in 1 contract
Samples: Lease (Markforged Holding Corp)
Fixed Rent. Fixed rent (the "Fixed Rent") is payable by Tenant agrees to pay to Landlord, commencing beginning on the Commencement Date in monthly installments, each representing one-twelfth (1/12) of the annual Fixed Rent Commencement Date(the "Annual Fixed Rent") in accordance with the following schedule: monthly installment of total Annual Annual period of Annual Fixed Rent Fixed Rent per Lease Term Fixed Rent due due rentable square foot Fixed Rent shall increase cents ($ ) per rentable square foot each year thereafter. Fixed Rent is payable without prior notice or demand, and thereafter monthlywithout any setoff or deduction whatsoever, in advance, on the first day of each and every calendar month during at such place as Landlord may direct, except that the Original Lease Term, a sum equal to one-twelfth (1112th) Fixed Rent for the first full month of the Lease Term will be paid on the date of execution of this Lease. The Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent as determined in Section 3.2 for the Extended Termset forth herein is an annualized amount. 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, andIn addition, if the Rent Commencement Date shall be Lease Term commences on a day other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make pay to Landlord shall be 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 Landlord, on a monthly basis, as 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 or before the Commencement Date of the Lease Term, a pro rata portion of the monthly installment of rent (including Fixed Rent and other provisions any Additional Rent as hereinafter defined), such pro rata portion to be based on the actual number of this days in that portion of the calendar month from and after the Commencement Date of the Lease calling for monthly payments shall be read as incorporating this undertaking by TenantTerm. Notwithstanding that the payment If any portion of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent or any other sum payable to Landlord hereunder shall be due and all other charges unpaid for which provision is made more than ten (10) days, it shall bear interest at a rate equal to three percent (3%) per annum greater than the highest prime rate of interest as published in the Wall Street Journal, eastern edition from time to time (the "Default Rate"), as the same may change from time to time, from the due date until the date of payment thereof by Xxxxxx, provided, however, that nothing contained herein or elsewhere in this Lease shall be paid 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 without setoffdo not and shall not constitute satisfaction of any current or outstanding debt of Tenant pursuant to this Lease, deduction and, provided further that any such memo shall not preclude Landlord from recovering any balance of any sum or abatementsums 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
Samples: Agreement of Lease
Fixed Rent. Tenant agrees 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 pay to Landlord, commencing the Rent Commencement Date. For the period beginning on the Rent Commencement Date, Date through and thereafter monthly, in advance, on including the last day of the twelfth (12th) full calendar month immediately following the Rent Commencement Date (this period shall include the partial calendar month between the Rent Commencement Date and the first day of each and every the first full calendar month during immediately following the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, Commencement Date if the Rent Commencement Date shall be is other than the first day of a calendar month), the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be based upon a payment 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 a proportionate part of such monthly Annual 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 partial 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 beginning on the applicable Adjustment Date and until such adjusted Fixed Rental Rate and Fixed Rent are determined, the 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 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 period is 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 a decrease in the Consumer Price Index. Further notwithstanding the foregoing, in no event shall the amount of any annual Adjustment to the first day Fixed Rental Rate exceed the lesser of (i) the Adjustment based on the applicable percentage change in the Consumer Price Index as set forth above or (ii) 3% of the succeeding calendar month. Additional Rent payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated, and Fixed Rental Rate for the first payment on account thereof shall be determined in similar fashion and shall commence on the Commencement Date and other provisions lease year (i.e. $0.3675 assuming a Fixed Rental Rate of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant$12.25 per square foot). Notwithstanding that the payment [End of Annual Fixed RentReference Data] LEASE BETWEEN 200 INTERNATIONAL LIMITED PARTNERSHIP, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Datea Delaware limited partnership, Tenant shall be subject toAS SUBLESSOR, and shall comply withAND TISSUELINK MEDICAL , all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this LeaseINC., the Annual Fixed Renta Delaware corporation, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoffAS SUBLESSEE, deduction or abatement.DATED AS OF February 27, 2008 TABLE OF CONTENTS
Appears in 1 contract
Fixed Rent. Tenant agrees to pay to Landlord, For the period commencing on September 1, 1991 and ending on the Rent Commencement Datelast day of the first full month in which the Balance Premises are occupied by Lessee, and thereafter monthlyLessee shall pay Lessor fixed rent, in advance, to be received on the first day of each and every calendar month during said period, in the Original Lease Termamount of $4,169.25, a sum which amount is obtained by multiplying $8.50 per square foot and the number of square feet in the Initial Premises (5,886), and then dividing such product by twelve to determine the equal to one-twelfth (1112th) monthly installments. For the period commencing on the first day of the Annual Fixed Rent specified second full month in Section 1.2 hereof and which the Balance Premises are occupied by Lessee until the Expiration Date, Lessee shall pay Lessor fixed rent, in advance, to be received on the first day of each month, in the amount of $10,625, which amount is obtained by multiplying $8.50 per square foot and every calendar month during the Extended Term number of square feet in the Within fifteen (if exercised), a sum equal to one-twelfth 15) days of Lessee's occupancy of the Annual Fixed Rent as determined in Section 3.2 for Balance Premises, the Extended Term. Until written notice actual square footage of some other designation is given, fixed rent and all other charges for which provision is herein made the Premises shall be measured by a licensed architect selected and paid for by remittance Lessor. If the actual square footage differs from that stated herein, Lessor and Lessee agree to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month shall be paid by Tenant execute an amendment to Landlord at such rate on a pro rata basis, and, if the Rent Commencement Date shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be 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 monthly basis, as 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 Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that specifying the payment actual square footage of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable corresponding change in the fixed rent for the Premises set forth above. For the purposes of this Lease, Fixed Rent with respect to the Initial Premises or the Premises shall mean $8.50 multiplied by Tenant the square footage of the Initial Premises or the Premises (as measured by Lessor's architect), as the case may be. Lessee agrees and covenants to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject topay all Fixed Rent, and shall comply withall Additional Rent as defined below in paragraph 4, all other provisions of this Lease as and to Lessor at the times provided office of Lessor, or at such other place as Lessor may designate by notice to Lessee, in this Lease. Except good Boston funds, without demand therefor and without deduction, setoff or abatement whatsoever, except as expressly otherwise set forth in this Leaseherein. Lessee further agrees, covenants and acknowledges that the Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.obligation
Appears in 1 contract
Fixed Rent. Tenant agrees to pay to Landlord, commencing on Landlord the Fixed Rent Commencement Date, and thereafter monthly, (as set forth in advance, PARAGRAPH F OF THE SUMMARY OF LEASE TERMS) in equal monthly installments in advance on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual Fixed Rent 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 Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the 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 remittance to PARAGRAPH M OF THE SUMMARY OF LEASE TERMS or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if other place as designated by Landlord (the Rent "Fixed Rent"). If the Commencement Date shall be other than is not the first day of a calendar month, or if the first payment Expiration Date is not the last day of Annual Fixed Rent which Tenant shall make to Landlord a month, a prorated monthly installment shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent paid at the then current rate for the partial fractional month from during which the Lease commences and/or expires. It is the responsibility of Tenant to ensure that the Rent Commencement Date to arrives at the first day of above-mentioned place on or before the succeeding calendar monthdue date. Additional Rent payable If the due date is a weekend or holiday, then Tenant must arrange for earlier delivery. Payments made by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall mail will be prorated, and considered late if they do not arrive at the first payment on account thereof shall be determined in similar fashion and shall commence place designated by Landlord on the Commencement Date and other provisions designated due date. All amounts of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Rent, including, without limitation, Fixed Rent, Operating Expenses Allocable and other sums due under 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 Premises lesser of (x) the maximum rate allowed by law, 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 Tax Excess payable 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 Landlord shall not commence until the timely make any payment of Rent Commencement Date, Tenant shall be subject to, and shall comply with, all or other provisions of sums due under this Lease as such costs and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent expenses are extremely difficult to estimate and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatementascertain.
Appears in 1 contract
Samples: Antivirals Inc
Fixed Rent. Tenant agrees to shall pay to LandlordLandlord as fixed annual rent for each Lease Year for the Premises, commencing without notice, set-off, counterclaim, deduction or demand, the following amounts, subject to adjustment as provided in Section 3.2 hereof: Lease Year Fixed Annual Rent Per Annum Fixed Monthly Rent 1 $ 236,495.00 $ 19,707.92 2 $ 243,589.85 $ 20,299.15 3 $ 250,897.54 $ 20,908.13 4 $ 258,424.46 $ 21,535.37 5 $ 266,177.19 $ 22,181.43 Fixed annual rent shall be payable in equal monthly installments beginning on the Rent Lease Commencement Date, Date and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, (each such monthly installment being referred to herein as “fixed monthly rent”). If the Rent Commencement Date (defined below) is a sum equal to one-twelfth (1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and date other than on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. 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 shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of rent from such monthly Annual Fixed Rent for the partial month from the Rent Commencement Date to date until the first day of the succeeding following month shall be prorated at the rate of one-thirtieth (1/30th) of the fixed monthly rent for each day. As used herein, the first “Lease Year” shall mean the period commencing on the Lease Commencement Date and ending on the last day of the month which completes (12) twelve full calendar monthmonths, and each 12-month period, thereafter commencing on the first day after the end of the immediately preceding Lease Year. Additional The date upon which Tenant is required to begin making fixed rent payments under this Lease shall be the “Rent Commencement Date.” Notwithstanding such abatement of fixed rent, (a) all other sums due under this Lease, including, but not limited to, additional rent, shall be payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated, and the first payment on account thereof shall be determined (b) any increases in similar fashion and shall commence on the Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise fixed rent set forth in this Lease shall occur on the dates scheduled therefor. The abatement of Tenant’s fixed rent is conditioned upon Tenant’s full and timely performance of all of its obligations under this Lease. If at any time during the Lease Term a default by Tenant occurs, then the abatement of fixed rent provided for herein shall immediately become void, and Tenant shall promptly pay to Landlord, in addition to the other amounts due to Landlord under this Lease, the Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatementfull amount of fixed rent herein abated.
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Fixed Rent. Fixed rent (the “Fixed Rent”) is payable by Tenant agrees to pay to Landlord, commencing beginning on the Commencement Date in monthly installations each equal to (See Rent Commencement DateSchedule - Rider #1), representing one-twelfth (1/12) of the annual Fixed Rent (the “Annual Fixed Rent”) equal to (See Rent Schedule - Rider #1), without prior notice or demand, and thereafter monthlywithout any setoff or deduction whatsoever, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent at such place 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000may direct. Annual Fixed Rent for any partial month shall include the Operating Expense Allowance as set forth in Section I (1) of Exhibit “C” hereto. Annual Fixed Rent shall be paid by Tenant subject to Landlord at such rate on a pro rata basis, andadjustment as provided in Section II of Exhibit “C” hereto. In addition, if the Rent Commencement Date shall be Lease Term commences on a day other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make pay to Landlord shall be 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 Landlord, on a monthly basis, as 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 or before the Commencement Date of the Lease Term, a pro rata portion of the 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 provisions than the last day of this Lease calling for a calendar month, such monthly payments installment of Fixed Rent and Additional Rent shall be read as incorporating this undertaking by Tenantprorated for each calendar day of such partial month. Notwithstanding that the payment If any portion of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess Additional Rent, or any other sum payable by Tenant to Landlord hereunder shall not commence until be due and unpaid for more than five (5) days, the Rent Commencement Date, Tenant balance due shall be subject toto and include a 10 percent penalty. In addition, and shall comply with, all other provisions if any portion of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all or any other charges for which provision is made in this Lease sum payable to Landlord hereunder shall be paid due and unpaid for more than five (5) days after written notice of non-payment by Landlord to Tenant (which written notice shall not be required 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 successor) (the “Default Rate”), as the same may change from time to time, from the due date until the date of payment thereof by Tenant, provided, however, that nothing herein contained shall be construed or implemented in such a manner as to allow Landlord without setoff, deduction to charge or abatementreceive interest in excess of the maximum legal rate then allowed by law.
Appears in 1 contract
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) within 15 days after Tenant's receipt of such revised Landlord's Tax Statement, Tenant agrees shall (with respect to any increase in Taxes for such Tax Year) pay the appropriate increase in Tenant's Tax Payment to Landlord, commencing on the Rent Commencement Date, and thereafter monthly, or (b) (with respect to any decrease in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112thTaxes for such Tax Year) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. 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 shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part credit such decrease in Tenant's Tax Payment against the next installment 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 Escalation Rent payable by Tenant on a monthly basisTenant, as elsewhere provided in or if the overpaid amount exceeds the amount of all remaining Escalation Rent payable under this LeaseLease for the balance of the Term, likewise shall be prorated, and the first payment on account thereof or if such overpayment shall be determined after the Expiration Date, Landlord shall pay the amount of such overpayment to Tenant within 30 days after demand. If, during the Term, Taxes are required to be paid (either to the appropriate taxing authorities or as tax escrow payments to the Lessor or the Mortgagee), in similar fashion and shall commence full or in semi-annual or quarterly or other installments on the Commencement Date and any other provisions of this Lease calling for monthly payments date or dates than as presently required, then Tenant's Tax Payments shall be read as incorporating this undertaking by correspondingly accelerated or revised so that Tenant. Notwithstanding that the payment of Annual Fixed Rent, Operating Expenses Allocable 's Tax Payments are due at least thirty (30) days prior to the Premises and date payments are due to the Tax Excess payable by Tenant to taxing authorities, the Lessor or the Mortgagee. Landlord shall not commence until 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 Rent Commencement Date, Tenant benefit of Landlord and Taxes shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord computed without setoff, deduction or abatementsubtracting such discount.
Appears in 1 contract
Samples: Agreement of Lease (Ampex Corp /De/)
Fixed Rent. Tenant agrees to pay to Landlord(a) Fixed rent (collectively, commencing "FIXED RENT") paid or payable by tenants in connection with their occupancy shall be adjusted and prorated on the Rent Commencement Datean if, as and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual when collected basis. Any Fixed Rent specified in Section 1.2 hereof and on collected by Purchaser or Seller after the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Closing from any tenant who owes Fixed Rent for any partial month periods prior to the Closing, shall be paid by Tenant to Landlord at such rate on a pro rata basisapplied (i) first, and, if the Rent Commencement Date shall be other than the first day of a calendar month, the first in payment of Annual Fixed Rent owed by such tenant for the month next preceding the month in which Tenant shall make to Landlord shall be a the Closing Date occurs, (ii) second, in payment equal to a proportionate part of Fixed Rent owed by such monthly Annual 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 for all current periods have been paid in full, in payment of Fixed Rent owed by such tenant for the partial month from the Rent Commencement Date period prior to the first day month preceding the month in which the Closing Date occurs. Each such amount, less any costs of the succeeding calendar month. Additional Rent payable by Tenant on a monthly basiscollection (including reasonable counsel fees) reasonably allocable thereto, as elsewhere provided in this Lease, likewise shall be proratedadjusted and prorated as provided above, and the first payment on account 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 be determined in similar fashion and receive any prepaid Fixed Rent from such tenant attributable to a period following the Closing, at the Closing, Seller shall commence on pay over to Purchaser 13 the Commencement Date and other provisions amount of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual such prepaid Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.
Appears in 1 contract
Samples: Sale and Purchase Agreement (Ampal American Israel Corp /Ny/)
Fixed Rent. Tenant agrees to pay to Landlord, commencing on Landlord the annual Fixed Rent Commencement Date, and thereafter monthly, (as set forth in advance, Paragraph F of the Summary of Lease Terms) in twelve (12) equal monthly installments in advance on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual term of this Lease (the “Fixed Rent Rent”) 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 Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth Paragraph M of the Annual Fixed Rent as determined in Section 3.2 for the Extended Term. Until written notice Summary of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by remittance to Lease Terms or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if other place as may hereafter be designated by Landlord If the Rent Commencement Date shall be other than is not the first day of a calendar month, or if the first payment Expiration Date is not the last day of Annual Fixed Rent which Tenant shall make to Landlord a month, a prorated monthly installment shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent paid at the then current rate for the partial fractional month from during which the Rent Commencement Date Lease commences and/or expires. It is the responsibility of Tenant to the first day ensure that all payments of the succeeding calendar month. Additional Rent payable by Tenant on a monthly basisFixed Rent, as elsewhere provided in together with all other rent due under this Lease, likewise shall arrives at the above-mentioned place on or before the due date. If the due date is a weekend or holiday, then Tenant must arrange for earlier delivery. Payments made by mail will be prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence considered late if they are not received by Landlord on the Commencement Date and other provisions designated due date. All amounts of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual rent, including, without limitation, Fixed Rent, Operating Expenses Allocable and other sums due under 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 Premises lesser of (x) the maximum rate allowed by applicable law pursuant to Section 20.8 hereof, 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 Tax Excess payable 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 Landlord shall not commence until the timely make any payment of Rent Commencement Date, Tenant shall be subject to, and shall comply with, all or other provisions of sums due under this Lease as such costs and at the times provided in this Leaseexpenses are extremely difficult to estimate and ascertain. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.3.2
Appears in 1 contract
Samples: www.sec.gov
Fixed Rent. Commencing on the date that is one hundred eighty (180) 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 agrees to pay to Landlord, commencing on the Rent Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th1/12) of the Annual Fixed Rent for the Premises specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent for the Premises 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. by ACH transfer in accordance with the 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 Rent Commencement Date shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be 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 monthly basis, as 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 Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess Rent payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the The Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatementabatement except as expressly provided in this Lease.
Appears in 1 contract
Samples: X4 Pharmaceuticals, Inc
Fixed Rent. Fixed rent (the “Fixed Rent”) is payable by Tenant agrees to pay to Landlord, commencing beginning on the Commencement Date in monthly installations as set forth on Exhibit B hereto, representing one-twelfth (1/12) of the annual Fixed Rent Commencement Date(the “Annual Fixed Rent”) as set forth on Exhibit B hereto, without prior notice or demand, and thereafter monthlywithout any setoff or deduction whatsoever, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent at such place 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000may direct. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if include the Rent Commencement Date shall be other than the first day Operating Expense Allowance as set forth in Section 2.1 of a calendar month, the first payment of Exhibit “C” hereto. Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal subject 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 monthly basis, adjustment as 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 Commencement Date and other provisions Section 2 of this Lease calling for monthly payments shall be read as incorporating this undertaking by TenantExhibit “C” hereto. Notwithstanding that the payment If any portion of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess Additional Rent, or any other sum payable by Tenant to Landlord hereunder shall not commence until be due and unpaid for more than five (5) days, the Rent Commencement Date, Tenant balance due shall be subject toto and include a 10 percent penalty. In addition, and shall comply with, all other provisions if any portion of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all or any other charges for which provision is made in this Lease sum payable to Landlord hereunder shall be paid due and unpaid for more than five (5) days after written notice of non-payment by Landlord to Tenant (which written notice shall not be required 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 Bank of America (or its successor) (the “Default Rate”), as the same may change from time to time, from the due date until the date of payment thereof by Tenant, provided, however, that nothing herein contained shall be construed or implemented in such a manner as to allow Landlord without setoff, deduction to charge or abatementreceive interest in excess of the maximum legal rate then allowed by law.
Appears in 1 contract
Fixed Rent. Fixed rent (the "Fixed Rent") is payable by Tenant agrees to pay to Landlord, commencing beginning on the Commencement Date in monthly installments, each representing one-twelfth (1/12) of the annual Fixed Rent Commencement Date(the "Annual Fixed Rent") in accordance with the following schedule: monthly installment of total Annual Annual period of Annual Fixed Rent Fixed Rent per Lease Term Fixed Rent due due rentable square foot Fixed Rent shall increase cents ($ ) per rentable square foot each year thereafter. Fixed Rent is payable without prior notice or demand, and thereafter monthlywithout any setoff or deduction whatsoever, in advance, on the first day of each and every calendar month during at such place as Landlord may direct, except that the Original Lease Term, a sum equal to one-twelfth (1112th) Fixed Rent for the first full month of the Lease Term will be paid on the date of execution of this Lease. The Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent as determined in Section 3.2 for the Extended Termset forth herein is an annualized amount. 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, andIn addition, if the Rent Commencement Date shall be Lease Term commences on a day other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make pay to Landlord shall be 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 Landlord, on a monthly basis, as 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 or before the Commencement Date of the Lease Term, a pro rata portion of the monthly installment of rent (including Fixed Rent and other provisions any Additional Rent as hereinafter defined), such pro rata portion to be based on the actual number of this days in that portion of the calendar month from and after the Commencement Date of the Lease calling for monthly payments shall be read as incorporating this undertaking by TenantTerm. Notwithstanding that the payment If any portion of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent or any other sum payable to Landlord hereunder shall be due and all other charges unpaid for which provision is made more than ten (10) days, it shall bear interest at a rate equal to three percent (3%) per annum greater than the highest prime rate of interest as published in the Wall Street Journal, eastern edition from time to time (the "Default Rate"), as the same may change from time to time, from the due date until the date of payment thereof by Tenant, provided, however, that nothing contained herein or elsewhere in this Lease shall be paid 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 without setoffdo not and shall not constitute satisfaction of any current or outstanding debt of Tenant pursuant to this Lease, deduction and, provided further that any such memo shall not preclude Landlord from recovering any balance of any sum or abatementsums 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
Samples: Agreement of Lease
Fixed Rent. Fixed rent (the “Fixed Rent”) is payable by Tenant agrees to pay to Landlord, commencing beginning on the Commencement Date in monthly installations each equal to (See Rent Commencement DateSchedule - Rider#l), representing one- twelfth (1/12) of the annual Fixed Rent (the “Annual Fixed Rent”) equal to (See Rent Schedule - Rider#l), without prior notice or demand, and thereafter monthlywithout any setoff or deduction whatsoever, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent at such place 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000may direct. Annual Fixed Rent for any partial month shall include the Operating Expense Allowance as set forth in Section I(1) of Exhibit “C” hereto. Annual Fixed Rent shall be paid by Tenant subject to Landlord at such rate on a pro rata basis, andadjustment as provided in Section II of Exhibit “C” hereto. In addition, if the Rent Commencement Date shall be Lease Term commences on a day other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make pay to Landlord shall be 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 Landlord, on a monthly basis, as 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 or before the Commencement Date of the Lease Term, a pro rata portion of the 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 provisions than the last day of this Lease calling for a calendar month, such monthly payments installment of Fixed Rent and Additional Rent shall be read as incorporating this undertaking by Tenantprorated for each calendar day of such partial month. Notwithstanding that the payment If any portion of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess Additional Rent, or any other sum payable by Tenant to Landlord hereunder shall not commence until be due and unpaid for more than five (5) days, the Rent Commencement Date, Tenant balance due shall be subject toto and include a 10 percent penalty. In addition, and shall comply with, all other provisions if any portion of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all or any other charges for which provision is made in this Lease sum payable to Landlord hereunder shall be paid due and unpaid for more than five (5) days after written notice of non-payment by Landlord to Tenant (which written notice shall not be required 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 successor) (the “Default Rate”), as the same may change from time to time, from the due date until the date of payment thereof by Tenant, provided, however, that nothing herein contained shall be construed or implemented in such a manner as to allow Landlord without setoff, deduction to charge or abatementreceive interest in excess of the maximum legal rate then allowed by law.
Appears in 1 contract
Fixed Rent. Fixed rent (the “Fixed Rent”) is payable by Tenant agrees to pay to Landlord, commencing beginning on the Commencement Date in monthly installations each equal to (See Rent Commencement DateSchedule - Rider#l), representing one-twelfth (1/12) of the annual Fixed Rent (the “Annual Fixed Rent”) equal to (See Rent Schedule - Rider#l), without prior notice or demand, and thereafter monthlywithout any setoff or deduction whatsoever, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1112th) of the Annual Fixed Rent specified in Section 1.2 hereof and on the first day of each and every calendar month during the Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent at such place 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000may direct. Annual Fixed Rent for any partial month shall include the Operating Expense Allowance as set forth in Section I (1) of Exhibit “C” hereto. Annual Fixed Rent shall be paid by Tenant subject to Landlord at such rate on a pro rata basis, andadjustment as provided in Section II of Exhibit “C” hereto. In addition, if the Rent Commencement Date shall be Lease Term commences on a day other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make pay to Landlord shall be 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 Landlord, on a monthly basis, as 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 or before the Commencement Date of the Lease Term, a pro rata portion of the 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 provisions than the last day of this Lease calling for a calendar month, such monthly payments installment of Fixed Rent and Additional Rent shall be read as incorporating this undertaking by Tenantprorated for each calendar day of such partial month. Notwithstanding that the payment If any portion of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess Additional Rent, or any other sum payable by Tenant to Landlord hereunder shall not commence until be due and unpaid for more than five (5) days, the Rent Commencement Date, Tenant balance due shall be subject toto and include a 10 percent penalty. In addition, and shall comply with, all other provisions if any portion of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all or any other charges for which provision is made in this Lease sum payable to Landlord hereunder shall be paid due and unpaid for more than five (5) days after written notice of non-payment by Landlord to Tenant (which written notice shall not be required 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 successor) (the “Default Rate”), as the same may change from time to time, from the due date until the date of payment thereof by Tenant, provided, however, that nothing herein contained shall be construed or implemented in such a manner as to allow Landlord without setoff, deduction to charge or abatementreceive interest in excess of the maximum legal rate then allowed by law.
Appears in 1 contract
Fixed Rent. Tenant agrees Pursuant to pay the Third Amendment to LandlordAmended and Restated Lease Agreement (the "Third Amendment"), commencing on Section 5(a)(vi) of the Lease was amended to temporarily reduce the monthly Fixed Rent Commencement Dateto the Temporaty Fixed Rent for the Payment Plan Period (July 1, 2017 through and including January 1, 2018, as more particularly set forth in the Third Amendment. Section 5(a)(vi) of the Lease is hereby further amended by adding the following to the end of Section 5(a)(vi): "Notwithstanding Sections 5(a)(ii), (iii) and (iv) above, the monthly Fixed Rent due and payable for the period beginning March 1, 2018 through and including August 1, 2018 (the "Supplemental Payment Plan Period") shall be also be reduced to $791,000 (the "Supplemental Temporary Fixed Rent"). Upon commencement of the Supplemental Payment Plan Period, the difference between the Fixed Rent due and payable as set forth in Section 5(a)(ii) of the Lease and the Supplemental Temporary Fixed Rent due and payable as set forth herein, such amount hereinafter referred to as the "Supplemental Payment Plan Rent", shall accrue interest at a rate of eight percent (8%) per annum, and continuing thereafter monthlyuntil repaid in full. Commencing on September 1, in advance2018, and continuing on the first day of each and every calendar month during thereafter, through and including August 1, 2021 (the Original Lease Termpayment date for the rental payment for the month ending August 31, a sum equal to one-twelfth (1112th) 2021), the aggregate of the Annual Fixed Payment Plan Rent specified in Section 1.2 hereof and on plus the first day of each and every calendar month during Supplemental Payment Plan Rent (collectively, the Extended Term (if exercised), a sum equal to one-twelfth of the 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 remittance to or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month "Combined Payment Plan Rent") shall be paid by Tenant to Landlord at such rate on a pro rata basisin equal monthly installments, andtogether with all accrued, if the Rent Commencement Date unpaid interest thereon, which installments shall be other than in an amount sufficient to fully repay the first day Combined Payment Plan Rent on or before to August 1, 2021." Notwithstanding anything herein to the contrary, upon the occurrence of a calendar monthany Event of Default, the first payment amount of Annual Fixed all outstanding Combined Payment Plan Rent which Tenant shall make to Landlord shall be 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 monthly basis, as 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 Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent, Operating Expenses Allocable to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and bear interest at the times provided in this Lease. Except as expressly otherwise interest rate set forth in this LeaseSection 5(d) applicable to late payments, the Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease Event of Default shall be paid by Tenant deemed to Landlord without setoffhave accrued beginning on July 1, deduction or abatement2017.
Appears in 1 contract
Samples: Lease Agreement (Carter Validus Mission Critical REIT, Inc.)
Fixed Rent. Tenant Xxxxxx agrees to pay to Landlord, Lessor the annual net rental for the Premises from the Rent Commencement Date 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 Commencement Dateis payable hereunder), and thereafter monthlywhich 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 Original Primary Term of this Lease Termprovided, however, that in the event that the Rent Commencement Date shall occur on a sum date other than the first day of a month, Xxxxxx agrees to pay Fixed Rent in advance on a per diem basis from the Rent Commencement Date to the end of such month in an amount equal to one-twelfth (1112th$1,205.32/day provided, 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 Annual Fixed Rent specified 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 on a net basis, for the related Renewal Term in Section 1.2 hereof and equal monthly installments in advance on the first day of each and every calendar month during the Extended such Renewal Term (if exercised), a sum equal to one-twelfth of the Annual this Lease. The first full month of 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 remittance Lessee simultaneously with the execution and delivery hereof by Xxxxxx. The foregoing installments of net rent set forth on the Cover Page of this Lease under the header, Fixed Rent, are herein collectively referred to as "Fixed Rent". All rent due or for the order of Landlord as follows: c/o Samuels & Associates, 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000. Annual Fixed Rent for any partial month to become due hereunder shall be paid by Tenant to Landlord Lessor at such rate on a pro rata basisits address first above written, and, if the Rent Commencement Date unless Lessor shall be designate some other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent payee or address for the partial month from the Rent Commencement Date payment thereof by giving written notice to the first day of the succeeding calendar month. Additional Rent payable by Tenant on a monthly basis, as 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 Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent, Operating Expenses Allocable effect to the Premises and the Tax Excess payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. Except as expressly otherwise set forth in this Lease, the Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatementXxxxxx.
Appears in 1 contract
Samples: Lease Agreement (Corporate Realty Income Fund I L P)