Lane Rental Charges Noncompliance Points Liquidated Damages Sample Clauses
Lane Rental Charges Noncompliance Points Liquidated Damages
Additional Rent (a) Lessor shall pay all real estate taxes, assessments, and other governmental levies against the Building (hereinafter referred to as "Real Estate Taxes"), except as otherwise hereinafter provided. Commencing in the first calendar year after the Base Year (as described on the BLI), if the amount of the Real Estate Taxes levied or assessed against the Building shall exceed by more than six percent (6%) per annum the Real Estate Taxes assessed in the Base Year, Lessee shall pay as Additional Rent Lessee's Percentage Share of that portion of such excess (e.g., over and above six percent (6%) per annum). The computation of Additional Rent under this Section 3.3(a) is expressed by the following formula: A = [T-B(1+(0.6 x C))] x L A = Additional Rent T = Real Estate Taxes for the calendar year in question B = Real Estate Taxes for the Base Year C = The number of calendar years since the end of the Base Year L = Lessee's Percentage Share (b) Lessor shall pay the costs of providing water, gas and electricity (hereinafter collectively called the "Utility Costs") to the Building. Commencing in the first calendar year after the Base Year, if the amount of the Utility Costs shall exceed by more than six percent (6%) per annum the Utility Costs for the Base Year, Lessee shall pay as Additional Rent under this Section 3.3(b) is expressed by the following formula: A = (U-B(1+0.6 x C)) x L A = Additional Rent U = Utility Costs for the calendar year in question B = Utility Costs for Base Year C = The number of calendar years since the end of the Base Year L = Lessee's Percentage Share (c) In any calendar year in which the tenancy of the Lessee is for less than the full calendar year, the Additional Rent due under this Section 3.3 shall be adjusted and prorated so that the Lessee's Percentage Share of said sum shall bear the same percentage that the partial calendar year bears to the full calendar year. Such Additional Rent due under this Section 3.3 shall be paid in one (1) lump sum which shall be due and payable thirty (30 days after Lessee is invoiced therefor. Lessee's obligation to pay such Additional Rent shall survive the termination of this Lease in the event the Real Estate Taxes or Utility Costs payable during the last year of Lease cannot reasonably be determined until after the termination of this Lease. (d) Lessor shall cause an independent certified public accountant selected by Lessor, in its sole discretion, to prepare on an annual basis a statement of the Utility Costs and Real Estate Taxes paid by Lessor, a copy of which shall be made available to Lessee upon written request. The Statement of said independent certified public accountant shall be final and binding upon Lessor and Lessee, absent manifest error. Lessee hereby waives any further accounting by Lessor.
Monthly Rent a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.