Furniture Rent. In consideration for the rental of the Furniture, Renter shall pay to Ariba the amount of One Hundred Ten Thousand Four Hundred and One Dollars and Fifty Cents ($110,401.50) per month and One Million Three Hundred Twenty-Four Thousand Eight Hundred and Eighteen Dollars ($1,324,818) per year increasing at the rate of 4% for the Original Term of the Sublease and reverting to a fixed sum of One Hundred Ten Thousand Four Hundred and One Dollars and Fifty Cents ($110,401.50) per month and One Million Three Hundred Twenty-Four Thousand Eight Hundred and Eighteen Dollars ($1,324,818) per year if the Sublease Option to extend is exercised (the "Furniture Rent"). Notwithstanding the foregoing, if Ariba, sublets floors three and four of Building Four pursuant to Section 2.2(b) of the Sublease, Renter shall not be obligated to pay Furniture Rent on the Furniture located on such floors to the extent that such sublessee(s) are obligated to pay Furniture Rent on said furniture under a furniture rental agreement substantially similar to this Agreement. Nothing herein shall be construed to require Ariba to reduce Renter's furniture rent in the event that sublessee(s)' furniture rent rates are higher than Renter's Furniture Rent. Ariba shall use commercially reasonable and good faith efforts to rent the Furniture on said floors to sublessees and to rent it at the highest rental rates to such sublessee(s). Furniture Rent shall be payable concurrently with Rent for the Premises in monthly installments in advance on the first day of each calendar month of the Term at the address set forth for Ariba in Section 20.1. Notwithstanding the foregoing, Furniture Rent for the first full calendar month of the Term is due at the time of payment of the First Month's Prepaid Rent under the Sublease. Furniture Rent for any partial month during the Term shall be prorated based on the actual number of days in such partial calendar month. Renter's covenant to pay Furniture Rent shall be independent of every other covenant in this Agreement. If Furniture Rent is not paid when due, Renter shall pay, relative to the delinquent payment, an amount equal to the sum which would be payable by Renter to Ariba for a default of Rent under the Sublease.
Appears in 2 contracts
Samples: Sublease Commencement Date Agreement (Ariba Inc), Sublease (Interwoven Inc)
Furniture Rent. Subtenant shall have the use of certain furniture contained within the Sublet premises pursuant to the following terms:
(i) In consideration addition to the Base Rent and all other Rent obligations of Subtenant pursuant to this Sublease, Sublandlord hereby leases to Subtenant and Subtenant hereby rents from Sublandlord, for the rental Term, (A) those certain items of furniture owned by Sublandlord and located in the Sublet Premises as of the Sublease Commencement Date (the “Sublandlord Furniture”), and (B) those certain items of furniture owned by Landlord and located in the Sublet Premises as of the Sublease Commencement Date (the “Landlord Furniture”). The parties will perform an inventory of the Sublandlord Furniture and the Landlord Furniture (collectively, the “Furniture”) promptly after execution of this Sublease. The inventory of the Sublandlord Furniture will be attached to this Sublease as Exhibit C and incorporated into this Sublease by reference. The inventory of the Landlord Furniture will be attached to this Sublease as Exhibit D and incorporated into this Sublease by reference. Subtenant receives no right of ownership in the Furniture by virtue of Subtenant’s use of the Furniture, Renter ; the Furniture will not be deemed Subtenant’s Personal Property.
(ii) Subtenant shall pay to Ariba the amount of One Hundred Ten Thousand Four Hundred and One Dollars and Fifty Cents ($110,401.50) per month and One Million Three Hundred Twenty-Four Thousand Eight Hundred and Eighteen Dollars ($1,324,818) per year increasing at the rate of 4% for the Original Term of the Sublease and reverting to a fixed sum of One Hundred Ten Thousand Four Hundred and One Dollars and Fifty Cents ($110,401.50) per month and One Million Three Hundred Twenty-Four Thousand Eight Hundred and Eighteen Dollars ($1,324,818) per year if the Sublease Option to extend is exercised (the "Furniture Rent"). Notwithstanding the foregoing, if Ariba, sublets floors three and four of Building Four pursuant to Section 2.2(b) of the Sublease, Renter shall not be obligated to pay Furniture Rent on the Furniture located on such floors to the extent that such sublessee(s) are obligated to pay Furniture Rent on said furniture under a furniture rental agreement substantially similar to this Agreement. Nothing herein shall be construed to require Ariba to reduce Renter's furniture rent in the event that sublessee(s)' furniture rent rates are higher than Renter's Furniture Rent. Ariba shall use commercially reasonable and good faith efforts to rent the Furniture on said floors to sublessees and to rent it at the highest rental rates to such sublessee(s). Furniture Rent shall be payable concurrently with Rent for the Premises in monthly installments in advance Sublandlord on the first day of each calendar month during the Term, concurrent with Subtenant’s payment of Base Rent (without regard to any abatement of Base Rent above provided), without demand, offset or deduction , the Term at the address set forth for Ariba in Section 20.1. Notwithstanding the foregoing, Furniture sum of $400.00 per month as Rent for the first full calendar Sublandlord Furniture and $100.00 per month as Rent for the Landlord Furniture (the “Furniture Rent”).
(iii) The Sublandlord Furniture shall be returned to Sublandlord in good condition upon termination of the Term is due at the time of payment of the First Month's Prepaid Rent under the Sublease. Furniture Rent for any partial month during the Term shall be prorated based on the actual number of days in such partial calendar month. Renter's covenant Term, subject to pay Furniture Rent shall be independent of every other covenant in this Agreement. If Furniture Rent is not paid when due, Renter shall pay, relative to the delinquent payment, an amount equal to the sum which would be payable by Renter to Ariba for a default of Rent under the Subleasereasonable wear and tear.
Appears in 2 contracts
Samples: Sublease Agreement, Sublease Agreement (U.S. Auto Parts Network, Inc.)