Common use of Method of Payment of Rent and Other Sums and Charges Clause in Contracts

Method of Payment of Rent and Other Sums and Charges. Base Rent, Replacement Base Rent and Additional Rent to be paid by Tenant to Landlord in accordance with the terms of this Lease and all sums to be paid by Landlord to Tenant shall be paid by either (a) wire transfer of immediately available funds or (b) electronic funds transfer debit transactions through Automated Clearing House Debit (“ACH”) and shall be initiated by the applicable Party for settlement on or before the applicable Payment Date (or when otherwise due and payable). Base Rent, Replacement Base Rent and such Additional Rent payable to Landlord shall be deemed paid on the date that Landlord actually receives funds through wire transfer or ACH and not on the date that Tenant initiates any such payment. On or prior to the Commencement Date, Landlord shall designate an account into which Tenant shall make all payments of Rent (other than, for the avoidance of doubt, Third-Party Charges) under this Lease, which designated account may be changed by Landlord upon not less than ten (10) Business Days’ Notice to Tenant. With respect to any Third-Party Charges, Tenant shall, promptly after demand therefor by Landlord, deliver to Landlord evidence of Tenant’s payment thereof (which may be a copy of the transmittal letter or invoice and a check whereby such payment was made).

Method of Payment of Rent and Other Sums and Charges. Base Rent, Replacement Base Rent and Additional Rent to be paid by Tenant to Landlord in accordance with the terms of this Lease and all sums to be paid by Landlord to Tenant shall be paid by either (a) wire transfer of immediately available funds or (b) electronic funds transfer debit transactions through Automated Clearing House Debit (“ACH”) and shall be initiated by the applicable Party for settlement on or before the applicable Payment Date (or when otherwise due and payable). Base Rent, Replacement Base Rent and such Additional Rent payable to Landlord shall be deemed paid on the date that Landlord actually receives funds through wire transfer or ACH and not on the date that Tenant initiates any such payment. On or prior to the Commencement Date, Landlord shall designate an account into which Tenant shall make all payments of Rent (other than, for the avoidance of doubt, Third-Party Charges) under this Lease, which designated account may be changed by Landlord upon not less than ten (10) Business Days’ Notice to Tenant. With respect to any Third-Party Charges, Tenant shall, promptly after demand therefor by Landlord, deliver to Landlord evidence of Tenant’s payment thereof (which may be a copy of the transmittal letter or invoice and a check whereby such payment was made).