Common use of Lease Rents Clause in Contracts

Lease Rents. The Lessee will pay, as consideration for the use and enjoyment of the Leased Property, a monthly rent of US$0.36 (Zero 36/100 Dollars, legal currency of the United States of America) per square foot of the Building, that is the monthly amount of US$22,242.67 (Twenty Two Thousand Two Hundred Forty Two 67/100 Dollars, legal currency of the United States of America), or its equivalent in Mexican Pesos, national currency, in accordance with the exchange rate, at the option of Lessee, published in the Official Gazette of the Federation (Diario Oficial de la Federacion) to solve obligations denominated in foreign currency in Mexico and in effect on the payment date, plus the corresponding value added tax for each payment (hereinafter the “Rent”) or any other tax or charge of a fiscal nature that substitutes the value added tax. The Rent any other amount payable to Lessor by Lessee in terms of this Agreement, shall be paid in advance on monthly basis to Lessor or to whomever is designated thereby in writing, within the first ten (10) business days of each month at Lessor’s Address or any place that Lessor previously instructs Lessee in writing. In case Lessee defaults on the timely payment of the Rent, Lessee shall pay to Lessor a monthly penalty interest charge equal to 5% (five percent) for each day in arrears of the payment of said Rent and/or any other amount owed to Lessor and until the payment of the same. Furthermore, the monthly Rent shall be paid by Lessee in full even if the Lessee occupies only part of the Leased Property, therefore the Lessee hereby waives all benefits as they may be established in article 2300 of the Civil Code of the State of Baja California, Mexico; benefits that are expressly waived in accordance with the article 7 of the said Code. During the Term of this Agreement, the Rent shall be annually increased in accordance with the real increase of the “U.S. Bureau of Labor Statistics Consumer Price Index for All Urban Consumers, Average in the City of San Diego California, United States of America, (1982-1984=100)”, accumulated of twelve months prior to the month that corresponds to each increase, same which shall not exceed 3.5% (three point five percent) per year. The Lessor agrees to render to the Lessee formal Mexican invoices concerning each monthly Rent and all other payment hereunder for the full amounts paid in connection with this Lease, which must comply with all the legal and tax requirements and include a breakdown of the value added tax.

Lease Rents. The Lessee will pay, as consideration for the use and enjoyment of the Leased Property, a monthly rent of US$0.36 (Zero 36/100 Dollars, legal currency of the United States of America) per square foot of the Building, that is the monthly amount of US$22,242.67 34,552.80 (Twenty Thirty Four Thousand Five Hundred Fifty Two Thousand Two Hundred Forty Two 67/100 80/100 Dollars, legal currency of the United States of America), or its equivalent in Mexican Pesos, national currency, in accordance with the exchange rate, at the option of Lessee, published in the Official Gazette of the Federation (Diario Oficial de la Federacion) to solve obligations denominated in foreign currency in Mexico and in effect on the payment date, plus the corresponding value added tax for each payment (hereinafter the “Rent”) or any other tax or charge of a fiscal nature that substitutes the value added tax. The Rent any other amount payable to Lessor by Lessee in terms of this Agreement, shall be paid in advance on monthly basis to Lessor or to whomever is designated thereby in writing, within the first ten (10) business days of each month at Lessor’s Address or any place that Lessor previously instructs Lessee in writing. In case Lessee defaults on the timely payment of the Rent, Lessee shall pay to Lessor a monthly penalty interest charge equal to 5% (five percent) for each day in arrears of the payment of said Rent and/or any other amount owed to Lessor and until the payment of the same. Furthermore, the monthly Rent shall be paid by Lessee in full even if the Lessee occupies only part of the Leased Property, therefore the Lessee hereby waives all benefits as they may be established in article 2300 of the Civil Code of the State of Baja California, Mexico; benefits that are expressly waived in accordance with the article 7 of the said Code. During the Term of this Agreement, the Rent shall be annually increased in accordance with the real increase of the “U.S. Bureau of Labor Statistics Consumer Price Index for All Urban Consumers, Average in the City of San Diego California, United States of America, (1982-1984=100)”, accumulated of the twelve months prior to the month that corresponds to each increase, same which shall not exceed 3.5% (three point five percent) per year. The Lessor agrees to render to the Lessee formal Mexican invoices concerning each monthly Rent and all other payment hereunder for the full amounts paid in connection with this Lease, which must comply with all the legal and tax requirements and include a breakdown of the value added tax.

Lease Rents. The Lessee will pay, as consideration for the use and enjoyment of the Leased Property, a monthly rent of US$0.36 (Zero 36/100 Dollars, legal currency of the United States of America) per square foot of the Building, that is the monthly amount of US$22,242.67 20,183.73 (Twenty Two Thousand Two One Hundred Forty Two 67/100 Eighty Three 73/100 Dollars, legal currency of the United States of America), or its equivalent in Mexican Pesos, national currency, in accordance with the exchange rate, at the option of Lessee, published in the Official Gazette of the Federation (Diario Oficial de la Federacion) to solve obligations denominated in foreign currency in Mexico and in effect on the payment date, plus the corresponding value added tax for each payment (hereinafter the “Rent”) or any other tax or charge of a fiscal nature that substitutes the value added tax. The Rent any other amount payable to Lessor by Lessee in terms of this Agreement, shall be paid in advance on monthly basis to Lessor or to whomever is designated thereby in writing, within the first ten (10) business days of each month at Lessor’s Address or any place that Lessor previously instructs Lessee in writing. In case Lessee defaults on the timely payment of the Rent, Lessee shall pay to Lessor a monthly penalty interest charge equal to 5% (five percent) for each day in arrears of the payment of said Rent and/or any other amount owed to Lessor and until the payment of the same. Furthermore, the monthly Rent shall be paid by Lessee in full even if the Lessee occupies only part of the Leased Property, therefore the Lessee hereby waives all benefits as they may be established in article 2300 of the Civil Code of the State of Baja California, Mexico; benefits that are expressly waived in accordance with the article 7 of the said Code. During the Term of this Agreement, the Rent shall be annually increased in accordance with the real increase of the “U.S. Bureau of Labor Statistics Consumer Price Index for All Urban Consumers, Average in the City of San Diego California, United States of America, (1982-1984=100)”, accumulated of the twelve months prior to the month that corresponds to each increase, same which shall not exceed 3.5% (three 3.5%(three point five percent) per year. The Lessor agrees to render to the Lessee formal Mexican invoices concerning each monthly Rent and all other payment hereunder for the full amounts paid in connection with this Lease, which must comply with all the legal and tax requirements and include a breakdown of the value added tax.

Lease Rents. The Lessee will pay, as consideration for the use and enjoyment of the Leased Property, a monthly rent of US$0.36 (Zero 36/100 Dollars, legal currency of the United States of America) per square foot of the Building, that is the monthly amount of US$22,242.67 5,142.96 (Twenty Two Five Thousand Two One Hundred Forty Two 67/100 96/100 Dollars, legal currency of the United States of America), or its equivalent in Mexican Pesos, national currency, in accordance with the exchange rate, at the option of Lessee, published in the Official Gazette of the Federation (Diario Oficial de la Federacion) to solve obligations denominated in foreign currency in Mexico and in effect on the payment date, plus the corresponding value added tax for each payment (hereinafter the “Rent”) or any other tax or charge of a fiscal nature that substitutes the value added tax. The Rent any other amount payable to Lessor by Lessee in terms of this Agreement, shall be paid in advance on monthly basis to Lessor or to whomever is designated thereby in writing, within the first ten (10) business days of each month at Lessor’s Address or any place that Lessor previously instructs Lessee in writing. In case Lessee defaults on the timely payment of the Rent, Lessee shall pay to Lessor a monthly penalty interest charge equal to 5% (five percent) for each day in arrears of the payment of said Rent and/or any other amount owed to Lessor and until the payment of the same. Furthermore, the monthly Rent shall be paid by Lessee in full even if the Lessee occupies only part of the Leased Property, therefore the Lessee hereby waives all benefits as they may be established in article 2300 of the Civil Code of the State of Baja California, Mexico; benefits that are expressly waived in accordance with the article 7 of the said Code. During the Term of this Agreement, the Rent shall be annually increased in accordance with the real increase of the “U.S. Bureau of Labor Statistics Consumer Price Index for All Urban Consumers, Average in the City of San Diego California, United States of America, (1982-1984=100)”, accumulated of twelve months prior to the month that corresponds to each increase, same which shall not exceed 3.5% (three point five percent) per year. The Lessor agrees to render to the Lessee formal Mexican invoices concerning each monthly Rent and all other payment hereunder for the full amounts paid in connection with this Lease, which must comply with all the legal and tax requirements and include a breakdown of the value added tax.