Common use of Minimum Annual Rental Clause in Contracts

Minimum Annual Rental. 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 (the "Minimum Annual Rental") for said Leased Premises. The Minimum Annual Rental shall be payable in twelve (12) equal monthly installments, in advance, without notice or invoice from Landlord, upon the first day of each and every month during the term hereof, commencing upon the date on which rental is determined to commence under the provisions of ARTICLE 3 hereof and ending upon the termination date of this Lease. In the event such rental shall be determined under the provisions of ARTICLE 3 hereof to commence on a day other than the first day of a month, then the 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 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 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 overdue payment.

Minimum Annual Rental. Tenant, in consideration of said demise, does hereby covenant and agree with Landlord Tenant agrees to pay to Landlord without deduction or set-off as rental for the use and occupancy of any kind, the sum of FIELD(MAR) per annum from Premises 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 (the "Minimum Annual Rental") 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 said Leased Premisesboth the Building and Tenant's Parcel. The Minimum Annual Rental shall be payable 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 installmentsinstallments during each year, in advance, without notice or invoice from Landlord, upon on the first day of each and every month during calendar month, without setoff, deduction, prior notice or demand, commencing on a date ("Rent Start Date") which shall be the term 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, commencing upon provided, however, that the date on which rental is determined to commence under Rent Start Date shall not be extended as aforesaid until Landlord has received written notice from Tenant describing the provisions of ARTICLE 3 hereof and ending upon the termination date of this Leasedelay. 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 shall be determined under the provisions of ARTICLE 3 hereof to period commence on a day other than the first day of a calendar month, then the Minimum Annual Rental 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 commencement date until the first day calendar month and at an amount equal to one three-hundred sixtieth (1/360th) of the month next following said annual rental for each such day, and thereafter 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 thereof until computed and 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 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 overdue paymentaforesaid.

Minimum Annual Rental. TenantA. Until adjusted pursuant to Paragraph 4D hereof, in consideration of said demise, does hereby covenant and agree with Landlord to Tenant shall pay to Landlord without deduction or set-off of any kind, as minimum rent for the Demised Premises the sum of FIELD(MARForty-Three Thousand Five Hundred Seventy-Six ($43,576.00) annually which is Eight Dollars ($8.00) 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 square foot of this Lease term as minimum annual rental rentable area (the "Minimum Annual Rental"). Such Minimum Annual Rental (as may be adjusted annually pursuant to Paragraph 4D hereof) for said Leased Premises. shall be payable during the term hereof, in advance, in equal monthly installments, together with all sales, use or other taxes based thereon (including, but not limited to the tax imposed by Florida Statutes 212.03), and any other state, federal or other governmental or quasi-governmental tax, service tax, license fee or other imposition levied on the Rents received by Landlord, all of which shall collectively be referred to hereafter as "Sales Tax." The first installment of Minimum Annual Rental shall be payable in twelve (12) equal monthly installments, in advance, without notice or invoice from Landlord, upon on the first day Rental Commencement Date and payment of each and every month during the term hereof, commencing upon the date on which rental is determined to commence under the provisions of ARTICLE 3 hereof and ending upon the termination date of this Lease. In the event such rental shall be determined under the provisions of ARTICLE 3 hereof to commence on a day other than the first day of a month, then the Minimum Annual Rental for the period from such commencement date until shall continue to be payable on the first (1st) day or each successive month thereafter. Until otherwise adjusted pursuant to Paragraph 4D hereof, the monthly installments shall be Three Thousand Six Hundred Thirty-One and 33/100 Dollars ($3,631.33), provided Tenant is not in default hereunder. B. Concurrently with each monthly installment of Minimum Annual Rent, Tenant shall pay Tenant's Proportionate Share of Taxes and Operating Expenses of the month next following Building and Tenant's Proportionate share of the occupied premises in the Building (the numerator of which is the rentable square foot area of the Tenant's premises and the denominator shall be prorated accordingly. All past the weighted average of occupied promises in the Building during the year in question), the amount due rentalsfrom Tenant for its use of the Parking Spaces as provided in Schedule "C" hereof, additional rentals, and/or together with Sales Tax on all of the above and all other sums which are due to Landlord under the terms of this Lease shall bear interest at (all such sums being hereinafter collectively referred to as "Additional Rent"). The Minimum Annual Rental and Additional Rent are hereinafter sometimes collectively referred to as "Rent." C. If the maximum legal rateRental Commencement Date occurs on a day other than the first (1st) day of the month, Rent from the Rental Commencement Date until the date thereof until first (1st) day of the following month shall be prorated (calculated on the basis of a thirty (30) day month) and shall be payable in advance of the Rental Commencement Date (and, in such event, the installment of Rent paid by Tenant. All rentals in this Lease provided at execution hereof shall be applied to the Rent due for the first (those hereinafter stipulated as well as 1st) full calendar month of the term hereof). D. The Minimum Annual Rental) Rental shall be paid adjusted annually on the first (1st) anniversary of the Rental Commencement Date if the Rental Commencement Date is the first (1st) day of a month (otherwise, it shall be adjusted annually on the first (1st) day of the month next following the Rental Commencement Date) and on each subsequent anniversary or mailed to: FIELD(PAY-ADDCOsuch first (1st) X.X. Xxx XXXXX(XXXXXday of the month (an "Adjustment Date") Xxxxxxx, XX 00000 or to such other payee or address as Landlord may designate, in writing, to Tenant. Notwithstanding anything to by multiplying the 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, Minimum Annual Rental for the purpose of defraying Landlord's expenses incident to the processing of such overdue paymentimmediately preceding twelve (12) month period by 1.

Minimum Annual Rental. TenantA. Until adjusted pursuant to Paragraph 4D hereof, in consideration of said demise, does hereby covenant and agree with Landlord to Tenant shall pay to Landlord without deduction or set-off of any kind, as minimum rent for the Demised Premises the sum of FIELD(MARThirty-Four Thousand Two Hundred Twenty-Five and No/100 Dollars ($34,225.00) annually which is Nine Dollars and 25/100 ($9.25) 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 square foot of this Lease term as minimum annual rental rentable area (the "Minimum Annual Rental"). Such Minimum Annual Rental (as may be adjusted annually pursuant to Paragraph 4D hereof) for said Leased Premisesshall be payable during the term hereof, in advance, in equal monthly installments, together with all sales, use or other taxes based thereon (including, but not limited to the tax imposed by Florida Statutes 212.03), and any other state, federal or other governmental or quasi-governmental tax, service tax, license fee or other imposition levied on the Rents received by Landlord, all of which shall collectively be referred to hereafter as "Sales Tax". The first installment of Minimum Annual Rental shall be payable in twelve (12) equal monthly installments, in advance, without notice or invoice from Landlord, upon on the Rental Commencement Date and payment of Minimum Annual Rental shall continue to be payable on the first (1st) day of each successive month thereafter. Until otherwise adjusted pursuant to Paragraph 4D hereof, the monthly installments shall be Two Thousand Eight Hundred Fifty-Two and every month 08/100 Dollars ($2,852.08) provided Tenant is not in default hereunder. B. Concurrently with each monthly installment of Minimum Annual Rent, Tenant shall pay Tenant's Proportionate Share of Taxes and Operating Expenses of the Building and Tenant's Proportionate Share of the occupied premises in the Building (the numerator of which is the rentable square foot area of the Tenant's premises and the denominator shall be the weighted average of occupied premises in the Building during the term hereofyear in question), commencing upon the date amount due from Tenant for its use of the Parking Spaces as provided in Schedule "C" hereof together with Sales Tax on all of the above and all other sums which rental is determined are due to commence Landlord under the provisions of ARTICLE 3 hereof and ending upon the termination date terms of this LeaseTease (all such sums being hereinafter collectively referred to as "Additional Rent"). In The Minimum Annual Rental and Additional Rent are hereinafter sometimes collectively referred to as "Rent." C. If the event such rental shall be determined under the provisions of ARTICLE 3 hereof to commence Rental Commencement Date occurs on a day other than the first (1st) day of the month, Rent from the Rental Commencement Date until the first (1st) day of the following month shall be prorated (calculated on the basis of a thirty (30) day month) and shall be payable in advance of the Rental Commencement Date (and, in such event, the installment of Rent paid at execution hereof shall be applied to the Rent due for the first (1st) full calendar month of the term hereof). D. The Minimum Annual Rental shall be adjusted annually on the first anniversary of the Rental Commencement Date if the Rental Commencement Date is the first day of a monthmonth (otherwise, then the Minimum Annual Rental for the period from such commencement date until it shall be adjusted annually on 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 Rental Commencement Date) and on each subsequent anniversary of this Lease shall bear interest at such first day of the maximum legal rate, from month (an "Adjustment Date") by multiplying the the date 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 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, Rental for the purpose of defraying Landlord's expenses incident to the processing of such overdue paymentimmediately preceding twelve (12) month period by 1.

Minimum Annual Rental. Tenant, in consideration of said demise, does hereby covenant and agree with Landlord to pay to Landlord Landlord, without deduction or set-off of any kind, the sum of FIELD(MAR[SEE ADDENDA] DOLLARS ($SEE ADDENDA) 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 (the "Minimum Annual Rental") for said Leased Premisesleased premises. The Minimum Annual Rental shall be payable in twelve (12) equal monthly installments, in advance, without notice or invoice from Landlord, upon the first day of each and every month during the term hereof, commencing upon the date on which rental is determined to commence under the provisions of ARTICLE 3 hereof and ending upon the termination date of this Leaselease. In the event such rental shall be determined under the provisions of ARTICLE 3 hereof to commence on a day other than the first day of a month, then the 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 lease shall bear interest at the maximum legal raterate of 18%, from the the due date 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) XxxxxxxROY X. XXXXX xxx W. M. XXXXX d/b/a PADRE STAPLES MALL 5488 PADRE STAPLES MALL CORPUS CHRISTI, XX 00000 TEXAS 78411 or to such other payee or address as Landlord may designate, in writing, to Tenant. Notwithstanding anything to the contrary contained in this Leaselease, 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, basic percentage or other, as may be considered additional rental under this Leaselease) is received at the address listed above more than five (5) days after the due date thereofafter. 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 overdue paymentpayments.