Common use of Miscellaneous Rent Provisions Clause in Contracts

Miscellaneous Rent Provisions. If Tenant shall fail to pay any installment of Minimum Rent, Percentage Rent or any item of additional rent within five (5) days after the date the same became due and payable, then Tenant shall pay to Landlord a late payment service charge (“Late Charge”) covering administrative and overhead expenses equal to the greater of (a) $250.00 or (b) 5¢ per each dollar so overdue. Provision herein for payment of the Late Charge shall not be construed to extend the date for payment of any sums required to be paid by Tenant hereunder or to relieve Tenant of its obligation to pay all such sums at the times herein stipulated. If the Commencement Date is other than the first day of a month, Tenant shall pay on the Commencement Date a prorated partial Minimum Monthly Rent for the period prior to the first day of the next calendar month, and thereafter Minimum Monthly Rent payments shall be made not later than the first day of each calendar month. For purposes of this Lease, a “Major Tenant” is herein defined as a single tenant occupying at least 25,000 contiguous square feet of floor area. If additional Major Tenants are added to the Center or an existing Major Tenant is replaced by a Major Tenant of higher quality, the Minimum Annual Rent and Minimum Monthly Rent herein provided for shall automatically be increased ten percent (10%) at the time each additional or higher quality Major Tenant opens for business. In addition to the foregoing, if Landlord shall, at any time during the term of this Lease, renovate or expand the Center, the cost of which exceeds Ten Million Dollars ($10,000,000.00), the Minimum Rent herein provided for shall automatically be increased ten percent (10%) upon the first day of the month following the completion of such renovation or expansion.

Miscellaneous Rent Provisions. If (i) Tenant shall fail at all times during the Term of this Lease keep and maintain (separately from any of its other books, records and accounts) accurate, complete and up-to-date books and records pertaining to pay the Project, including books of account reflecting the operations of the Project and all matters referred to in this Article and in the other Articles of this Lease. Following the opening of the Project to the public for business, the Landlord or its representatives shall have, at all reasonable times during normal business hours, reasonable access, on reasonable advance notice, to the books and records of Tenant pertaining to the Project, including books of account properly reflecting the operations of the Project, which books and records shall be kept at the Project, and the Landlord shall have the right to cause an independent audit of said books and records to be made at any time [but not more frequently than once in any twelve (12) month period unless a material misrepresentation or omission of Tenant's reported Gross Revenues are discovered], at Landlord's expense. Such right of inspection and audit may be exercised by Landlord at any time within three (3) years after the end of the Hotel Year to which such books and records relate (but only once for each Hotel Year absent evidence of an material misrepresentation or omission not disclosed by a prior audit for any Hotel Year), and Tenant shall maintain all such books and records for at least such period of time and, if any dispute between the parties with respect to this Lease has arisen and remains unresolved at the expiration of such period of time, for such further period of time until the final resolution of such dispute. Further, each lease or concession agreement or other agreement entered into by Tenant with a subtenant or concessionaire in connection with the Project shall contain a provision pursuant to which Tenant and Landlord are granted the same rights with respect to the books and records to be maintained as aforesaid, which provisions Tenant shall use its best efforts to enforce. Any Annual Gross Revenues Statement shall be deemed accepted by Landlord as correct if Landlord does not give its objections to Tenant, with reasonable specificity as to such objections, within three (3) years after the giving of such Statement. Should Landlord so request, Tenant shall furnish Landlord with true copies of sales and use tax returns filed with the Florida Department of Revenue (or its successor) by Tenant and by its subtenants, concessionaires and other persons or entities whose revenues are included in Gross Revenues. (ii) If, upon any examination by Landlord or its representatives of the books or records of Tenant or any other person or entity referred to in this Article 6, an error shall be revealed which results in there being due to Landlord additional Percentage Rent of any nature, all Percentage Rent calculations prior to the date such discovery is made shall be reviewed (whether or not such Percentage Rent has been audited pursuant to this paragraph) and the amount of any overpayments or underpayments of Percentage Rent which may be disclosed by such review, together with interest accrued thereon from the date on which such underpayment or overpayment was made until the amount thereof is paid at the rates set forth above in the case of an underpayment, shall be paid by Tenant to Landlord upon demand, or, in the case of any overpayment, be credited to the next installment or installments of Minimum RentRent falling due (or, if this Lease shall have terminated other than by reason of Tenant's default, be repaid by Landlord to Tenant). If such error results in there being due to Landlord additional Percentage Rent for any Hotel Year in any amount as a result of an intentional misrepresentation or omission, or in an amount equal to or exceeding five percent (5%) of the Percentage Rent theretofore paid by Tenant in respect of such Hotel Year as to any other error, then all actual costs of such examination incurred in good faith by Landlord shall also be paid by Tenant to Landlord upon demand. (iii) All payments of Rent shall be made to the Landlord at the address for Notices to the Landlord set forth hereinbelow, or to such other mailing address as Landlord may from time to time designate by notice to Tenant. (iv) It is the intention of the parties that any and all rents reserved by this Article shall be net rents, and Landlord shall receive the same free from all costs, charges, expenses and damages, and in addition to all other amounts that by the provisions of this Lease are made expressly, although in general terms, payable by Tenant. All Rent and other payments due to Landlord under this Lease shall be free from all claims, demands or set-offs of any nature whatsoever which Tenant may have or allege against Landlord (other than such credits for overpayment of Percentage Rent as are expressly provided for in this Article 6 or any other credits or offsets as are specifically provided for elsewhere under this Lease) and all such payments shall, upon receipt by Landlord, be the absolute and sole property of the Landlord. (v) All payments due under this Lease shall be made in current legal tender of the United States as the same is by law constituted at the time of such payment. Any extension, indulgence or change by Landlord in the mode or time of payment of Rent or any item of additional rent within five (5) days after the date the same became due and payable, then Tenant shall pay to Landlord a late payment service charge (“Late Charge”) covering administrative and overhead expenses equal to the greater of (a) $250.00 or (b) 5¢ per each dollar so overdue. Provision herein for payment of the Late Charge other amount payable hereunder on any occasion shall not be construed as a waiver of any provision of this Lease, or as requiring or granting a similar extension, indulgence or change by Landlord upon any subsequent occasion. (vi) If and to extend the extent that the amount of Base Rent or Percentage Rent should change during any applicable payment period, whether as a result of the occurrence of the Base Rent Increase Date, the Annual Escalator, or of changes in the Percentage Rent Percentage, or otherwise, the amount of the Base Rent or Percentage Rent shall change and be prorated effectively as of the date for payment of any sums required to be paid by Tenant hereunder or to relieve Tenant such change and the applicable payment amount adjusted accordingly as of its the next applicable payment date. (vii) The obligation to pay all such sums at Rent reserved herein shall survive the times herein stipulatedexpiration or termination of this Lease. If Landlord's obligation to repay to Tenant overpayments of Percentage Rent as expressly provided for in this Article 6 shall also survive the Commencement Date is other than the first day of a month, Tenant shall pay on the Commencement Date a prorated partial Minimum Monthly Rent for the period prior to the first day of the next calendar month, and thereafter Minimum Monthly Rent payments shall be made not later than the first day of each calendar month. For purposes expiration or termination of this Lease, a “Major unless such termination is by reason of the breach or default of Tenant” is herein defined . (viii) Whenever the terms "subtenant" or "concessionaire" are used in this Article they shall include Tenant and any and all subtenants, concessionaires and licensees whether they receive their rights in respect of the Demised Premises and/or the Buildings directly from Tenant or indirectly through another subtenant or licensee. (ix) Except as a single tenant occupying at least 25,000 contiguous square feet of floor area. If additional Major Tenants are added to the Center or an existing Major Tenant is replaced by a Major Tenant of higher quality, the Minimum Annual Rent and Minimum Monthly Rent herein may otherwise be provided for shall automatically be increased ten percent (10%) at the time each additional or higher quality Major Tenant opens for business. In addition to the foregoing, if Landlord shall, at any time during the term of in this Lease, renovate Rent shall be prorated as of the expiration of the Term. (x) Except as otherwise expressly provided in this Article 6, in the event that any dispute should arise between Landlord and Tenant in respect of the application of the terms and provisions of this Article relating to the calculation and payment of Percentage Rent (other than those contained in Paragraph 6.(c)(i) above) and/or in respect of any of the calculations, statements or expand forecasts made or prepared pursuant thereto and/or in respect of either party's compliance with such terms and conditions, either party to this Lease may give the Centerother notice of such dispute (a "Percentage Rent Dispute Notice") setting forth the subject of such dispute and a brief description of such party's contentions with respect thereto. If such dispute is not resolved to the mutual satisfaction of both parties within twenty (20) days after delivery of the Percentage Rent Dispute Notice relating thereto, either party shall have the cost of which exceeds Ten Million Dollars ($10,000,000.00), the Minimum Rent herein right to submit such dispute to arbitration as provided for shall automatically be increased ten percent (10%) in Article 49 of Lease by serving upon the first day other party an Arbitration Notice in accordance with said Article 49, whereupon the provisions of said Article 49 shall apply. The arbitrators appointed pursuant to Article 49 shall resolve such dispute by applying the month following the completion terms and provisions of this Article, and their decision shall specify measures or action which Landlord and/or Tenant must take to comply with such renovation terms and provisions and shall order Landlord and/or Tenant to take such measures or expansionaction.

Miscellaneous Rent Provisions. If (A) Except as provided in subsection (B) below, if Tenant shall fail to pay any installment of Minimum Base Rent, Percentage Rent or any item of additional rent within five (5) days after or any additional charge provided for herein the date the same became becomes due and payable, then Tenant shall also pay to Landlord a late payment service charge of 5% of the payment so overdue. (“Late Charge”B) covering administrative and overhead expenses equal Anything herein to the greater of contrary notwithstanding, Landlord agrees the first time during any lease year (aand provided the same does not occur more than 3 times in any five years) $250.00 or that Tenant fails to make a payment to Landlord in such a manner so that but for this sentence subsection (bA) 5¢ per each dollar so overdue. Provision herein for above would apply, Landlord will provide notice to Tenant that Landlord has not received the payment of Base Rent, or any item of additional rent or any additional charge provided for herein when due and payable, and if Tenant makes such payment within two (2) business days of receipt of such notice, Landlord agrees not to charge the Late Charge shall not be construed to extend the date for late payment of any sums required to be paid by Tenant hereunder or to relieve Tenant of its obligation to pay all such sums at the times herein stipulated. service charge described in subsection (A) above. (C) If the Commencement Date is other than the first day of a month, Tenant shall pay on the Commencement Date a prorated partial Minimum Monthly monthly Base Rent for the period prior to the first day of the next calendar month, and thereafter Minimum Monthly monthly Base Rent payments shall be made not later than the first day of each calendar month. For purposes of this Lease, a “Major Tenant” is herein defined as a single tenant occupying at least 25,000 contiguous square feet of floor area. If additional Major Tenants are added to the Center or an existing Major Tenant is replaced by a Major Tenant of higher quality, the Minimum Annual Rent and Minimum Monthly Rent herein provided for shall automatically be increased ten percent (10%) at the time each additional or higher quality Major Tenant opens for business. In addition to the foregoing, if Landlord shall, at any time during the term of this Lease, renovate or expand the Center, the cost of which exceeds Ten Million Dollars ($10,000,000.00), the Minimum Rent herein provided for shall automatically be increased ten percent (10%) upon the first day of the month following the completion of such renovation or expansion.

Miscellaneous Rent Provisions. If All amounts required or provided to be paid by Tenant under this Lease other than Minimum Annual Rent and Percentage Rent shall fail to pay any installment of be deemed "Additional Rent", and Minimum Annual Rent, Percentage Rent and Additional Rent shall in all events be deemed "rent" or "Rent" hereunder, and such amounts shall be due as otherwise set forth in this Lease or, where no payment date is stated, in no event later than thirty (30) days after Tenant's receipt of Landlord's invoice for any such amounts. 4.2.1. Any rent or other amounts to be paid by Tenant which are not paid by the fifth (5th) day after the date when due shall bear interest as of the first day of the month on which any sum is due and owing at the maximum rate of interest permitted in the State of Nevada, or if there is no such maximum, at a rate equal to ten percent (10%) (the "Agreed Rate"), and such default interest shall thereafter be compounded on a monthly basis. In addition to the interest that may be charged to Tenant, if any installment of rent or any item of additional rent other sum payable by Tenant hereunder is not received by Landlord within five (5) days after written notice that it was not paid by the date when due, a late charge of three percent (3%) of such overdue installment or other payment shall be immediately and automatically payable by Tenant to Landlord. 4.2.2. Tenant shall be responsible for and agrees to pay, before delinquency, any sales tax on rents, and any tax or assessment that may be assessed, charged or imposed by law now in effect, or which is hereafter enacted or may go into effect, in connection with the use, occupancy, possession or tenancy of the Premises for each month or portion thereof during the Term (all of the foregoing are hereinafter referred to as "Rent Taxes"). Rent Taxes shall exclude all excess profits taxes, franchise taxes, gift taxes, capital stock taxes, inheritance and succession taxes, estate taxes, business license or gross receipts taxes, federal and state income taxes or other taxes to the extent applicable to Landlord's general or net income. Tenant agrees to pay the Rent Taxes in the manner and in accordance with the requirements of applicable law, rule and regulation, as the same became due may be amended from time to time. In the event that the applicable taxing authority shall require (or permit and payable, then Tenant Landlord shall pay elect to do so) Landlord a late payment service charge (“Late Charge”) covering administrative and overhead expenses equal or Landlord's agent to the greater of (a) $250.00 collect any Rent Taxes for or (b) 5¢ per each dollar so overdue. Provision herein for payment on behalf of the Late Charge applicable taxing authority then such Rent Taxes shall not be construed to extend the date for payment of any sums required to be paid by Tenant hereunder to Landlord or to relieve Tenant of its obligation to pay all such sums at the times herein stipulated. If the Commencement Date is other than the first day of a month, Tenant shall pay on the Commencement Date a prorated partial Minimum Monthly Rent for the period prior to the first day of the next calendar month, and thereafter Minimum Monthly Rent payments shall be made not later than the first day of each calendar month. For purposes of this Lease, a “Major Tenant” is herein defined as a single tenant occupying at least 25,000 contiguous square feet of floor area. If additional Major Tenants are added to the Center or an existing Major Tenant is replaced by a Major Tenant of higher quality, Landlord's agent monthly with the Minimum Annual Rent and Minimum Monthly Rent herein provided for shall automatically be increased ten percent (10%) at payments required hereunder, in accordance with the time each additional or higher quality Major Tenant opens for business. In addition to the foregoing, if Landlord shall, at any time during the term of this Lease, renovate or expand the Center, the cost of which exceeds Ten Million Dollars ($10,000,000.00), the Minimum Rent herein provided for shall automatically be increased ten percent (10%) upon the first day requirements of the month following the completion of such renovation or expansionapplicable taxing authority and in no event later than monthly within fifteen (15) days' notice from Landlord to Tenant.