Common use of Method of Payment of Rent and Additional Charges to Landlord Clause in Contracts

Method of Payment of Rent and Additional Charges to Landlord. (a) Rent and Additional Charges to be paid to Landlord shall be paid by electronic funds transfer debit transactions through wire transfer of immediately available funds and shall be initiated by Tenant for settlement on or before the Payment Date; provided, however, if the Payment Date is not a Business Day, then settlement shall be made on the next succeeding day which is a Business Day. Landlord shall provide Tenant with appropriate wire transfer information in a Notice from Landlord to Tenant. Landlord shall deliver an invoice to Tenant (each an “Additional Charge Invoice”) no later than twenty (20) days after the end of each calendar month which itemizes the Additional Charges that Tenant is obligated to pay to Landlord. Promptly following Tenant’s request, Landlord shall provide such documentation as reasonably requested by Tenant to enable Tenant to verify the accuracy of the Additional Charges set forth on the Additional Charge Invoice. Subject to Section 3.3(b) and Article XII relating to permitted contests, Tenant shall pay all Additional Charges to Landlord (or to such other person directed by Landlord) within thirty (30) days after Landlord delivers the Additional Charge Invoice therefor. (b) No later than fifteen (15) days after the end of each calendar month, Tenant shall deliver to Landlord a report (each a “Monthly Report”) setting forth all Additional Charges paid by Tenant during the immediately preceding calendar month. Landlord shall reasonably cooperate with Tenant in the preparation of such Monthly Report. Promptly following Landlord’s request, Tenant shall deliver to Landlord such documentation as reasonably requested by Landlord, including, without limitation, a copy of the transmittal letter or invoice and a check whereby such payment was made, to evidence the proper payment of the Additional Charges by Tenant to parties other than Landlord hereunder.

Method of Payment of Rent and Additional Charges to Landlord. (a) Rent and Additional Charges to be paid to Landlord shall be paid by electronic funds transfer debit transactions through wire transfer of immediately available funds and shall be initiated by Tenant for settlement on or before the Payment Date; provided, however, that if the Payment Date is not a Business Day, then settlement shall be made on the next succeeding day which is a Business Day. Landlord shall provide Tenant with appropriate wire transfer information in a Notice from Landlord to Tenant. Landlord shall deliver an invoice to Tenant (each an “"Additional Charge Invoice”") no later than twenty (20) days after the end of each calendar month which itemizes the Additional Charges that Tenant is obligated to pay to Landlord. Promptly (but in no event later than ten (10) days) following Tenant’s 's request, Landlord shall provide such documentation as reasonably requested by Tenant to enable Tenant to verify the accuracy of the Additional Charges set forth on the Additional Charge Invoice. Subject to Section 3.3(b) and Article XII relating to permitted contests, Tenant shall pay all Additional Charges to Landlord (or to such other person directed by Landlord) within thirty (30) days after Landlord delivers the Additional Charge Invoice therefor. (b) No later than fifteen (15) days after the end of each calendar month, Tenant shall deliver to Landlord a report (each a “"Monthly Report”") setting forth all Additional Charges paid by Tenant during the immediately preceding calendar month. Landlord shall reasonably cooperate with Tenant in the preparation of such Monthly Report. Promptly (but in no event later than ten (10) days) following Landlord’s 's request, Tenant shall deliver to Landlord such documentation as reasonably requested by Landlord, including, without limitation, a copy of the transmittal letter or invoice and a check whereby such payment was made, to evidence the proper payment of the Additional Charges by Tenant to parties other than Landlord hereunder. (c) Either Landlord or Tenant (the "Auditing Party"), upon Notice delivered to the other party (the "Audited Party"), within sixty (60) days after the end of each calendar year, may elect to have a certified accountant from a nationally recognized accounting firm designated by the Auditing Party audit the books and records of the Audited Party relating to the Additional Charge Invoices or Monthly Reports, as applicable, for the immediately preceding calendar year, together with reasonable supporting data therefor, such audit to occur during business hours and with at least five (5) Business Days' prior notice to the Audited Party, and which shall commence no later than thirty (30) days following the date of the Auditing Party's Notice, as such date may be extended on a day for day basis to the extent the Audited Party delays the Audited Party's access to such books and records following the request therefor. If Landlord or Tenant fails to deliver Notice within the time period stated above, then the Additional Charge Invoices or Monthly Reports, as applicable, for the immediately preceding calendar year shall be deemed conclusive and binding upon such party. (d) The Auditing Party and the Auditing Party's employees, accountants and agents shall treat all of the Audited Party's books and records, and any analysis thereof, as confidential, and, as a condition to any review of such books and records, the Auditing Party shall confirm such confidentiality obligation in writing by executing a confidentiality agreement in form and substance reasonably acceptable to Landlord and Tenant. The Auditing Party shall, at the Auditing Party's sole cost and expense, have the right to obtain copies and/or make abstracts of the books and records as it may reasonably request in connection with its verification of any such Additional Charge Invoices and/or the Monthly Reports, subject to the provisions of any such confidentiality agreement. (e) Pending the determination of any dispute, Tenant shall pay all Additional Charges required to be paid in accordance with the Additional Charge Invoices in question; provided that the payment of such Additional Charges shall be without prejudice to Tenant's right to dispute such amounts or Tenant's right to recover if Tenant successfully challenges the Additional Charge Invoices. If it has been determined after the dispute has been finally resolved that Landlord overstated the Additional Charges on the Additional Charge Invoices in question, then: (i) Landlord shall refund to Tenant the amount of such overpayment together with interest thereon at the Overdue Rate no later than thirty (30) days following such determination; and (ii) if Tenant has overpaid such Additional Charges by more than five percent (5%) as a result of Landlord’s overstatement of such Additional Charges, then Landlord shall reimburse Tenant for Tenant's reasonable auditing fees incurred in connection with such determination no later than thirty (30) days following receipt of an invoice therefor (with reasonable backup) from Tenant. Landlord's obligation to make such payment shall survive the expiration or earlier termination of this Master Lease. (f) After a dispute has been finally resolved and it is determined that Tenant has underpaid any Additional Charges based on the Landlord's audit set forth in this Section 3.3, Tenant shall pay the amount of such underpayment to Landlord (or the applicable party), together with all applicable interest and penalties related thereto, within thirty (30) days following such determination and shall send to Landlord, simultaneously with any such payment to a party other than the Landlord, a copy of the invoice or check or other evidence of payment therefor. If it is determined that Tenant has underpaid such Additional Charges by more than five percent (5%), Tenant shall reimburse Landlord for Landlord's reasonable auditing fees incurred in connection with such determination no later than thirty (30) days following receipt of an invoice therefor (with reasonable backup) from Landlord. Tenant's obligation to make such payment shall survive the expiration or earlier termination of this Master Lease.

Method of Payment of Rent and Additional Charges to Landlord. (a) Tenant shall pay all Rent and Additional Charges to be paid to Landlord shall be paid by electronic funds transfer debit transactions through wire transfer of immediately available funds and shall be initiated by funds, which Tenant must initiate for settlement on or before the Payment Date; provided, however, provided that if the Payment Date is not a Business Day, then Tenant shall complete the settlement shall be made on the next succeeding day which is a Business Day. Landlord shall provide Tenant with a Notice containing appropriate wire transfer information in a Notice from Landlord to Tenantinformation. Landlord shall deliver an invoice to Tenant (each an “Additional Charge Invoice”) no later than twenty (20) days after the end of each calendar month which itemizes the Additional Charges incurred by Landlord and for which Tenant is responsible, that Tenant is obligated to pay to Landlord. Promptly (but in no event later than ten (10) days) following Tenant’s request, Landlord shall provide such documentation as reasonably requested by Tenant (the “Additional Charge Documentation”) to enable Tenant to verify the accuracy of the Additional Charges set forth on the Additional Charge Invoice. Subject to Section 3.3(b) and Article XII Section 6.3 relating to permitted contests, Tenant shall pay all invoiced Additional Charges to Landlord (or to such other person directed by Landlord) within upon the later of the date which is (i) thirty (30) days after Landlord delivers the Additional Charge Invoice thereforto Tenant, and (ii) ten (10) days following Tenant’s receipt of the Applicable Charge Documentation, if applicable. (b) No later than fifteen (15) days after the end of each calendar month, Tenant shall deliver to Landlord a report (each a “Monthly Financial Report”) setting forth all Additional Charges paid by Tenant during the immediately preceding calendar month. Landlord shall reasonably cooperate with Tenant in the preparation of such Monthly Financial Report. Promptly (but in no event later than ten (10) days) following Landlord’s request, Tenant shall deliver to Landlord such documentation as reasonably requested by Landlord, including, without limitation, a copy of the transmittal letter or invoice and a check whereby such payment was made, to evidence the proper payment of the Additional Charges by Tenant to parties Parties other than Landlord hereunder. Such Monthly Financial Reports, on a quarterly basis, shall also include a certification as to the amounts accrued and paid for property taxes and insurance related to the Leased Assets. (c) Either Landlord or Tenant (the “Auditing Party”), upon Notice delivered to the other party (the “Audited Party”), within sixty (60) days after the end of each calendar year, may elect to designate a certified accountant from a nationally recognized accounting firm to audit the books and records of the Audited Party relating to the Additional Charge Invoices or Monthly Financial Reports, as applicable, for the immediately preceding calendar year, together with reasonable supporting data therefor. The Auditing Party must ensure such audit occurs during business hours and with at least five (5) Business Days’ prior notice to the Audited Party, and shall commence no later than thirty (30) days following the date of the Auditing Party’s Notice, as such date may be extended on a day for day basis to the extent the Audited Party delays the Audited Party’s access to such books and records following the request therefor. If Landlord or Tenant fails to deliver Notice within the time period stated above, then the Additional Charge Invoices or Monthly Financial Reports, as applicable, for the immediately preceding calendar year shall be deemed conclusive and binding upon such Party. (d) The Auditing Party and the Auditing Party’s employees, accountants and agents shall treat all the Audited Party’s books and records, and any analysis thereof, as Confidential Information, and, as a condition to any review of such books and records, the Auditing Party shall confirm such confidentiality obligation in writing by executing a confidentiality agreement in form and substance reasonably acceptable to Landlord and Tenant. The Auditing Party may, at the Auditing Party’s sole cost and expense, copies and/or make abstracts of the books and records as it may reasonably request in connection with its verification of any such Additional Charge Invoices and/or the Monthly Financial Reports, subject to the provisions of any related confidentiality agreement. (e) Pending the determination of any dispute, Tenant shall pay all Additional Charges set forth in the Additional Charge Invoices in question; provided payment shall not prejudice to Tenant’s right to dispute such amounts or Tenant’s right to recover if Tenant successfully challenges the Additional Charge Invoices. If Tenant successfully disputes any Additional Charges, then: (i) Landlord shall refund to Tenant the amount of such overpayment no later than thirty (30) days following such determination; and (ii) if Tenant has overpaid such Additional Charges by more than five percent (5%) as a result of Landlord’s overstatement of such Additional Charges, then Landlord shall reimburse Tenant for Tenant’s reasonable auditing fees incurred in connection as well as the amount of such overpayment with such determination no later than thirty (30) days following receipt of an invoice therefor (with reasonable supporting documentation) from Tenant. Landlord’s obligation to make such payment shall survive the expiration or earlier termination of this Master Lease. (f) After a dispute has been finally resolved and it is determined that Tenant has underpaid any Additional Charges based on the Landlord’s audit set forth in this Section 3.3, Tenant shall pay the amount of such underpayment to Landlord (or the applicable party), together with any applicable interest, within thirty (30) days following such determination and shall send to Landlord, simultaneously with any such payment to a party other than the Landlord, a copy of the invoice or check or other evidence of payment therefor. If it is determined that Tenant has underpaid such Additional Charges by more than five percent (5%), Tenant shall reimburse Landlord for Landlord’s reasonable auditing fees incurred in connection with such determination as well as the amount of such underpayment no later than thirty (30) days following receipt of an invoice therefor (with reasonable backup) from Landlord. Tenant’s obligation to make such payment shall survive the expiration or earlier termination of this Master Lease.

Method of Payment of Rent and Additional Charges to Landlord. (a) Rent and Additional Charges to be paid to Landlord or its designee shall be paid by electronic funds transfer debit transactions through wire transfer of immediately available funds and shall be initiated by Tenant for settlement on or before the Payment Date; provided, however, if the Payment Date is not a Business Day, then settlement shall be made on the next succeeding day which is a Business Day. Landlord shall provide Tenant with appropriate wire transfer information in a Notice from Landlord to Tenant. Landlord shall deliver an invoice to Tenant (each an “Additional Charge Invoice”) no later than twenty (20) days after the end of each calendar month which itemizes the Additional Charges that Tenant is obligated to pay to Landlord. Promptly following Tenant’s request, Landlord shall provide such documentation as reasonably requested by Tenant to enable Tenant to verify the accuracy of the Additional Charges set forth on the Additional Charge Invoice. Subject to Section 3.3(b) and Article XII relating to permitted contests, Tenant shall pay all Additional Charges to Landlord (or to such other person directed by Landlord) within thirty (30) days after Landlord delivers the Additional Charge Invoice therefor. (b) No later than fifteen (15) days after the end of each calendar month, Tenant shall deliver to Landlord a report (each a “Monthly Report”) setting forth all Additional Charges paid by Tenant during the immediately preceding calendar month. Landlord shall reasonably cooperate with Tenant in the preparation of such Monthly Report. Promptly following Landlord’s request, Tenant shall deliver to Landlord such documentation as reasonably requested by Landlord, including, without limitation, a copy of the transmittal letter or invoice and a check whereby such payment was made, to evidence the proper payment of the Additional Charges by Tenant to parties other than Landlord hereunder.

Method of Payment of Rent and Additional Charges to Landlord. (a) Rent and Additional Charges to be paid to Landlord or its designee shall be paid by electronic funds transfer debit transactions through wire transfer of immediately available funds and shall be initiated by Tenant for settlement on or before the Payment Date; provided, however, if the Payment Date is not a Business Day, then settlement shall be made on the next succeeding day which is a Business Day. Landlord shall provide Tenant with appropriate wire transfer information in a Notice from Landlord to Tenant. Landlord shall deliver an invoice to Tenant (each an “Additional Charge Invoice”) no later than twenty (20) days after the end of each calendar month which itemizes the Additional Charges that Tenant is obligated to pay to Landlord. Promptly following Tenant’s 's request, Landlord shall provide such documentation as reasonably requested by Tenant to enable Tenant to verify the accuracy of the Additional Charges set forth on the Additional Charge Invoice. Subject to Section 3.3(b) and Article XII relating to permitted contests, Tenant shall pay all Additional Charges to Landlord (or to such other person directed by Landlord) within thirty (30) days after Landlord delivers the Additional Charge Invoice therefor. (b) No later than fifteen (15) days after the end of each calendar month, Tenant shall deliver to Landlord a report (each a “Monthly Report”) setting forth all Additional Charges paid by Tenant during the immediately preceding calendar month. Landlord shall reasonably cooperate with Tenant in the preparation of such Monthly Report. Promptly following Landlord’s request, Tenant shall deliver to Landlord such documentation as reasonably requested by Landlord, including, without limitation, a copy of the transmittal letter or invoice and a check whereby such payment was made, to evidence the proper payment of the Additional Charges by Tenant to parties other than Landlord hereunder.