Common use of Minimum Annual Rental Clause in Contracts

Minimum Annual Rental. Tenant agrees to pay as rental for the use and occupancy of the Premises the Minimum Annual Rental specified in Article 1; although the Minimum Annual Rental is based on the Floor Area of the Building, it shall be the total Minimum Annual Rental due for both the Building and Tenant's Parcel. Minimum Annual Rental shall be calculated by multiplying the Minimum Annual Rental per square foot listed in Sections 1.4 and 3.4(c) hereof times the square feet of the Floor Area determined as provided in paragraph 9 of Exhibit C hereto. Tenant shall pay Minimum Annual Rental in twelve (12) equal monthly installments during each year, in advance, on the first day of each calendar month, without setoff, deduction, prior notice or demand, commencing on a date ("Rent Start Date") which shall be the earlier of (a) ninety (90) days after Landlord delivers to Tenant the Notice of Substantial Completion described in Section 3.2 or (b) the date Tenant opens for business, unless a different date is specified in Article 1 or Exhibit F. Notwithstanding the foregoing, the ninety (90) day period referenced in clause (a) hereof shall be extended one day for each day after Landlord's delivery to Tenant of the Notice of Substantial Completion that the completion of Tenant's Work is delayed as a result of a breach by Landlord of its obligations hereunder, or an event described in Section 26.5 hereof, provided, however, that the Rent Start Date shall not be extended as aforesaid until Landlord has received written notice from Tenant describing the delay. In the event Landlord and Tenant have not agreed or settled upon the actual measurement of the Floor Area of the Building as of the Rent Start Date, then until such time as the actual Floor Area has been determined, Tenant shall pay Minimum Annual Rental in the amounts set forth in Section 1.4, and if the Floor Area is determined at such later date to be greater than the Floor Area specified in Section 1.2, Tenant shall pay the additional amount due within thirty (30) days following the date of determination, and if the Floor Area is determined to be less than the Floor Area specified in Section 1.2, Landlord shall credit the amount of such overpayment against Tenant's account hereunder. Should the rental period commence on a day other than the first day of a calendar month, then the rental for such first fractional month shall be computed on a daily basis for the period from the date of commencement to the end of such calendar month and at an amount equal to one three-hundred sixtieth (1/360th) of the said annual rental for each such day, and thereafter shall be computed and paid as aforesaid.

Minimum Annual Rental. Tenant agrees Tenant, in consideration of said demise, does hereby covenant and agree with Landlord to pay to Landlord without deduction or set-off of any kind, the sum of FIELD(MAR) per annum from the rental commencement date set forth in ARTICLE 3, through the first FIELD(#MO-1ST) months thereafter; FIELD(MAR2) per annum from the FIELD(COMMENC2) month after the rental commencement date through the FIELD(#MO-2ND) month thereafter, and FIELD(MAR3) per annum from the FIELD(COMMENC3) month after the rental commencement date through the expiration of this Lease term as minimum annual rental for (the use and occupancy of the Premises the "Minimum Annual Rental specified in Article 1; although the Minimum Annual Rental is based on the Floor Area of the Building, it shall be the total Minimum Annual Rental due Rental") for both the Building and Tenant's Parcelsaid Leased Premises. The Minimum Annual Rental shall be calculated by multiplying the Minimum Annual Rental per square foot listed in Sections 1.4 and 3.4(c) hereof times the square feet of the Floor Area determined as provided in paragraph 9 of Exhibit C hereto. Tenant shall pay Minimum Annual Rental payable in twelve (12) equal monthly installments during each yearinstallments, in advance, on without notice or invoice from Landlord, upon the first day of each calendar month, without setoff, deduction, prior notice or demandand every month during the term hereof, commencing on a date ("Rent Start Date") which shall be the earlier of (a) ninety (90) days after Landlord delivers to Tenant the Notice of Substantial Completion described in Section 3.2 or (b) upon the date Tenant opens for business, unless a different on which rental is determined to commence under the provisions of ARTICLE 3 hereof and ending upon the termination date is specified in Article 1 or Exhibit F. Notwithstanding the foregoing, the ninety (90) day period referenced in clause (a) hereof shall be extended one day for each day after Landlord's delivery to Tenant of the Notice of Substantial Completion that the completion of Tenant's Work is delayed as a result of a breach by Landlord of its obligations hereunder, or an event described in Section 26.5 hereof, provided, however, that the Rent Start Date shall not be extended as aforesaid until Landlord has received written notice from Tenant describing the delaythis Lease. In the event Landlord and Tenant have not agreed or settled upon such rental shall be determined under the actual measurement provisions of the Floor Area of the Building as of the Rent Start Date, then until such time as the actual Floor Area has been determined, Tenant shall pay Minimum Annual Rental in the amounts set forth in Section 1.4, and if the Floor Area is determined at such later date ARTICLE 3 hereof to be greater than the Floor Area specified in Section 1.2, Tenant shall pay the additional amount due within thirty (30) days following the date of determination, and if the Floor Area is determined to be less than the Floor Area specified in Section 1.2, Landlord shall credit the amount of such overpayment against Tenant's account hereunder. Should the rental period commence on a day other than the first day of a calendar month, then the rental for such first fractional month shall be computed on a daily basis Minimum Annual Rental for the period from such commencement date until the first day of the month next following shall be prorated accordingly. All past due rentals, additional rentals, and/or other sums due to Landlord under the terms of this Lease shall bear interest at the maximum legal rate, from the the date of commencement thereof until paid by Tenant. All rentals in this Lease provided (those hereinafter stipulated as well as Minimum Annual Rental) shall be paid or mailed to: FIELD(PAY-ADDCO) X.X. Xxx XXXXX(XXXXX) Xxxxxxx, XX 00000 or to such other payee or address as Landlord may designate, in writing, to Tenant. Notwithstanding anything to the end contrary contained in this Lease, in order to cover the extra expense involved in handling delinquent payments, Tenant, at Landlord's sole option, shall pay a "late charge" of $200.00 when any installment of rent (minimum, percentage or other, as may be considered additional rental under this Lease) is received at the address listed above more than five (5) days after the due date thereof. It is hereby understood that this amount is charged as additional rent, and not as penalty or interest, for the purpose of defraying Landlord's expenses incident to the processing of such calendar month and at an amount equal to one three-hundred sixtieth (1/360th) of the said annual rental for each such day, and thereafter shall be computed and paid as aforesaidoverdue payment.

Minimum Annual Rental. Tenant agrees to The Lessee shall yield and pay as rental for the use and occupancy of leased premises a minimum annual rental (hereinafter referred to as the Premises the Minimum Annual Rental specified in Article 1; although the Minimum Annual Rental is based on the Floor Area of the Building, it shall be the total Minimum Annual Rental due for both the Building and Tenant's Parcel. Minimum Annual Rental shall be calculated by multiplying the Minimum Annual Rental per square foot listed in Sections 1.4 and 3.4(c) hereof times the square feet of the Floor Area determined as provided in paragraph 9 of Exhibit C hereto. Tenant shall pay Minimum Annual Rental in twelve (12) equal monthly installments during each year, in advance, on the first day of each calendar month, without setoff, deduction, prior notice or demand, commencing on a date ("Rent Start Dateminimum annual rental") which shall be at the earlier of (a) ninety (90) days after Landlord delivers to Tenant the Notice of Substantial Completion described in Section 3.2 or (b) the date Tenant opens for business, unless a different date is rate specified in Article 1 or Exhibit F. Notwithstanding Item 4 of the foregoing, Second Schedule hereto subject to variation and review as hereinafter provided and the ninety (90) day period referenced in clause (a) hereof minimum annual rental for the time being reserved shall be extended one payable and paid by equal successive monthly instalments in advance payable on the 1/st/ day of each and every month with the first of such instalments (adjusted for each any period between the 1st day after Landlord's delivery to Tenant of the Notice of Substantial Completion that month in which the completion of Tenant's Work is delayed as a result of a breach by Landlord of its obligations hereunder, or an event described in Section 26.5 hereof, provided, however, that the Rent Start Date shall not be extended as aforesaid until Landlord has received written notice from Tenant describing the delay. In the event Landlord term commences and Tenant have not agreed or settled upon the actual measurement of the Floor Area of the Building as of the Rent Start Date, then until such time as the actual Floor Area has been determined, Tenant shall pay Minimum Annual Rental in the amounts set forth in Section 1.4, and if the Floor Area is determined at such later date commencing date) to be greater than the Floor Area specified in Section 1.2, Tenant shall pay the additional amount due within thirty (30) days following paid on or before the date of determination, commencement of the term and if such minimum annual rental shall be paid to the Floor Area is determined Lessor or office of the Managing Agents or as the Lessor may from time to be less than time nominate in writing. Clause 2.03 - Rent Review On the Floor Area date or dates specified in Section 1.2, Landlord Item 5 of the Second Schedule hereto the annual rental for the time being reserved hereunder shall credit be reviewed in relation to the amount of the annual rental to be paid by the Lessee until the next date fixed for review hereunder and from any such overpayment against Tenant's account hereunder. Should date fixed for review the annual rental period commence on a day other than to be paid by the first day of a calendar month, then the rental for such first fractional month lessee shall be computed on a daily basis the annual rental mutually agreed in writing between the Lessor and the Lessee not later than 2 months prior to the relevant date fixed for review and failing agreement shall be an amount equal to the annual rental payable by the Lessee immediately prior to the relevant date fixed for review plus an increment equal to the same percentage of that sum as the percentage increase in the Consumer Price Index for the number of quarters which end during the period from the date of commencement of the term or the preceding date fixed for review whichever immediately precedes the relevant date fixed for review to that date and ending with the quarter immediately preceding the relevant date fixed for review. For the purposes of this provision the expression "Consumer price Index" shall mean the consumer price index complied by the Australian Bureau of Statistics for the Perth (Capital City) area (all groups) or any substitute therefor accepted by the Government of the Commonwealth of Australia from time to time PROVIDED THAT if the index number base adopted by the Commonwealth Statistician for the index number is at any time updated by the Commonwealth Statistician the index number shall be appropriately adjusted as from the same time. If at any time either or both the Consumer Price Index and the index number is discontinued or suspended or in the opinion of the Lessor is substantially altered there shall be substituted therefor such alternative method of computing changes in the cost of living as is mutually agreed in writing between the lessor and the lessee during the period of 14 days after notice in writing given by the Lessor to the end Lessee or failing such agreement as in the opinion of an expert appointed by the President for the time being of the Chartered Institute of Accountants of Australia (Western Australia Division) at the request of the Lessor or the Lessee or both of them most closely reflects changes in the cost of living for the Perth Metropolitan Area during the Rent Period immediately preceding the relevant date fixed for review. The costs of such calendar month expert shall be borne by the Lessor and at an amount the Lessee in equal shares. PROVIDED ALWAYS AND IT IS HEREBY AGREED THAT the Lessor shall not by reason of its failure to one three-hundred sixtieth (1/360th) of give the said Rental Notice or make the calculation required forfeit its right to have the annual rental reviewed subsequent the date fixed for each such day, and thereafter shall be computed and paid as aforesaidreview.

Minimum Annual Rental. Tenant agrees Tenant, in consideration of said demise, does hereby covenant and agree with Landlord to pay to Landlord, without deduction or set-off of any kind, the sum of [SEE ADDENDA] DOLLARS ($SEE ADDENDA) per annum as minimum annual rental for (the use and occupancy of the Premises the "Minimum Annual Rental specified in Article 1; although the Minimum Annual Rental is based on the Floor Area of the Building, it shall be the total Minimum Annual Rental due Rental") for both the Building and Tenant's Parcelsaid leased premises. The Minimum Annual Rental shall be calculated by multiplying the Minimum Annual Rental per square foot listed in Sections 1.4 and 3.4(c) hereof times the square feet of the Floor Area determined as provided in paragraph 9 of Exhibit C hereto. Tenant shall pay Minimum Annual Rental payable in twelve (12) equal monthly installments during each yearinstallments, in advance, on without notice or invoice from Landlord, upon the first day of each calendar month, without setoff, deduction, prior notice or demandand every month during the term hereof, commencing on a date ("Rent Start Date") which shall be the earlier of (a) ninety (90) days after Landlord delivers to Tenant the Notice of Substantial Completion described in Section 3.2 or (b) upon the date Tenant opens for business, unless a different on which rental is determined to commence under the provisions of ARTICLE 3 hereof and ending upon the termination date is specified in Article 1 or Exhibit F. Notwithstanding the foregoing, the ninety (90) day period referenced in clause (a) hereof shall be extended one day for each day after Landlord's delivery to Tenant of the Notice of Substantial Completion that the completion of Tenant's Work is delayed as a result of a breach by Landlord of its obligations hereunder, or an event described in Section 26.5 hereof, provided, however, that the Rent Start Date shall not be extended as aforesaid until Landlord has received written notice from Tenant describing the delaythis lease. In the event Landlord and Tenant have not agreed or settled upon such rental shall be determined under the actual measurement provisions of the Floor Area of the Building as of the Rent Start Date, then until such time as the actual Floor Area has been determined, Tenant shall pay Minimum Annual Rental in the amounts set forth in Section 1.4, and if the Floor Area is determined at such later date ARTICLE 3 hereof to be greater than the Floor Area specified in Section 1.2, Tenant shall pay the additional amount due within thirty (30) days following the date of determination, and if the Floor Area is determined to be less than the Floor Area specified in Section 1.2, Landlord shall credit the amount of such overpayment against Tenant's account hereunder. Should the rental period commence on a day other than the first day of a calendar month, then the rental for such first fractional month shall be computed on a daily basis Minimum Annual Rental for the period from such commencement date until the first day of the month next following shall be prorated accordingly. All past due rentals, additional rentals, and/or other sums due to Landlord under the terms of this lease shall bear interest at the rate of 18%, from the due date of commencement thereof until paid by Tenant. All ROY X. XXXXX xxx W. M. XXXXX d/b/a PADRE STAPLES MALL 5488 PADRE STAPLES MALL CORPUS CHRISTI, TEXAS 78411 or to such other payee or address as Landlord may designate, in writing, to Tenant. Notwithstanding anything to the end contrary contained in this lease, in order to cover the extra expense involved in handling delinquent payments, Tenant, at Landlord's sole option, shall pay a "late charge" of $200.00 when any installment of rent (basic percentage or other, as may be considered additional rental under this lease) is received at the address listed above more than five (5) days after. It is hereby understood that this amount is charged as additional rent, and not as penalty or interest, for the purpose of defraying Landlord's expenses incident to the processing of such calendar month and at an amount equal to one three-hundred sixtieth (1/360th) of the said annual rental for each such day, and thereafter shall be computed and paid as aforesaidoverdue payments.