Initial Ground Lease Rent. LPC West shall have deposited in Escrow any rent due at Closing pursuant to the Ground Lease for the relevant Parcel.
Initial Ground Lease Rent Sample Clauses
Related to Initial Ground Lease Rent
Ground Lease Reserved.
Initial Lease Term The Initial Lease Term is for a minimum of ten (10) years; however, the State will consider a longer lease term if economic benefits are deemed to be in the State’s best interest. Please propose a fixed, or flat, rental rate for a Gross Lease: including all expenses – taxes, insurance, janitorial services, maintenance, etc. The State may elect to pay for utilities separately so please include a cost per square foot to reduce the rental rate if such occurs.
Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.
Rent The Tenant shall pay the Landlord, in equal monthly installments, $ ("Rent"). The Rent shall be due on the of every month (“Due Date”) and paid under the following instructions: .
Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.
Lease Term The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
New Lease In the event of the termination of this Lease as a result of Tenant's default prior to the expiration of the term, or in the event of a rejection by Landlord or Tenant of this Lease under Chapter 11 of the Bankruptcy Code, Landlord shall, in addition to providing the notices of default and termination as required by this Lease, provide each Leasehold Mortgagee with written notice that the Lease has been terminated or that Landlord has filed a request with the Bankruptcy Court seeking to reject the Lease, together with a statement of all sums which would at that time be due under this Lease but for such termination or rejection, and of all other defaults, if any, then known to Landlord. Upon any request of the Leasehold Mortgagee, or its designee, Landlord agrees to enter into a new lease ("New Lease") of the Premises with such Leasehold Mortgagee or its designee for the remainder of the term of this Lease, effective as of the date of termination or rejection, as the case may be, at the Rent, and upon the terms, covenants and conditions (including all transfer rights, but excluding requirements which are not applicable or which have already been fulfilled) of this Lease; provided, however, that (i) the Leasehold Mortgagee whose lien upon the Premises is superior to the lien of any other Leasehold Mortgage (the "Senior Leasehold Mortgagee") shall have the right to give notice of its intent to enter into a New Lease to the Landlord for a period of 60 days from its receipt of the notice referred to in the first sentence of this Section 18.2.18 and (ii) if the Senior Leasehold Mortgagee does not exercise its right to enter into the New Lease during this 60-day period; the Leasehold Mortgagee whose lien upon the Premises is superior to the lien of any other Leasehold Mortgage (other than the Senior Leasehold Mortgagee) shall have the right to give notice of its intent to enter into a New Lease to the Landlord during the remainder of the period(s) specified below; and provided further, however,
Vacating Premises (i) If the Assuming Bank elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming Bank's occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming Bank's notice not to exercise such option. The Assuming Bank promptly shall relinquish and release to the Receiver such premises and the Furniture and Equipment and Fixtures located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By occupying any such premises after the expiration of such ninety (90)-day period, the Assuming Bank shall, at the Receiver's option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such premises are located, and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank and located on such premises as of Bank Closing.
Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.
Storage Space Effective as of the Second Floor Commencement Date, Landlord hereby leases to Tenant certain additional space containing approximately 1,000 rentable square feet in such areas as more particularly designated on Schedule X- 0 xxxxxxxx hereto. In addition, Landlord hereby grants to Tenant the right to lease certain additional storage space in such areas of the Project as are designated for storage by Landlord on a first-come, first-served basis (the initial storage space and additional storage space leased to Tenant by Landlord, if any, are collectively the "Storage Space"). Tenant may exercise its option to lease additional Storage Space from time to time throughout the term of the Lease by giving written notice to Landlord of its desire to lease the same, which notice shall be conditioned upon the availability of the desired space. Tenant shall pay Landlord an annual rental for the Storage Space (the "Storage Rent") equal to $10.25 per rentable square foot of GLA of the Storage Space, adjusted annually at the rate of 2 1/2% per annum. The Lease Years for Storage Space shall be concurrent with the Lease Years for the Premises. No janitorial or trash removal services shall be provided to the Storage Space. No other charges shall be applied, as Additional Rent or otherwise, to the Storage Space, except for charges incurred by Landlord in enforcing its rights relating to the Storage Space under this Lease, in accordance with the terms of this Lease. The Tenant shall have the option, exercisable at any time during the Term, to cancel its lease of the Storage Space, upon thirty (30) days' prior written notice to the Landlord. Except as provided in this Section 2.1(b), the terms and conditions of Tenant's occupancy of the Storage Space shall be as set forth in this Lease. The Storage Space shall be leased in its absolute "AS IS" condition. There shall also be no core factor for the Storage Space (i.e., the usable areas shall be equal to the rentable area).
