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Common use of Monthly Rent Clause in Contracts

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 3 contracts

Samples: Office Lease (Marin Software Inc), Office Lease (Marin Software Inc), Office Lease (Marin Software Inc)

Monthly Rent. a. Commencing as of the Commencement Datefirst (1st) day of the Second Lease Year, and continuing thereafter on or before the first day of each calendar month during the term hereofLease term, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the Lease term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he shall, except as otherwise set forth in this Lease, be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunderhereunder (which is at the rate of $15.00 per rentable square foot per annum), which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve ten percent (1210%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 2 contracts

Samples: Office Lease (Twitter, Inc.), Office Lease (Twitter, Inc.)

Monthly Rent. a. Throughout the Term of this Lease, Tenant will pay “Rent” to Landlord for the Leased Premises. Rent shall consist of Monthly Base Rent as set forth on Page Two of this Lease together with all additional rent (“Additional Rent”) required to be paid by Tenant to Landlord pursuant to Section 6 below, Commencing as of on the Rent Commencement Date, and continuing thereafter monthly Base Rent will be paid in advance on or before the first day of each calendar month during throughout the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 aboveTerm. If Tenant’s obligation to pay Monthly the Rent hereunder Commencement Date shall be on any other day than the first day of a calendar month, then monthly Base Rent will be prorated based upon the actual number of calendar days in such month. Additional Rent will be paid in advance on or before the first day of each calendar month of the Term. If the Term commences on a day other than the first day of a calendar month, month or if the term of this Lease terminates ends on a day other than the last day of a calendar month, then the Monthly Additional Rent payable for such partial month shall will be appropriately prorated by Landlord based on the basis actual number of a thirty (30)-day calendar days in such month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he will be paid by Tenant to Landlord, in advance, without deduction, offset, prior written notice or demand, and without deduction or offset, in immediately available funds of lawful money of the United States of America, or by good check America at Landlord’s Address as described below, to the lockbox location designated by Landlordset forth on Page One of this Lease, or to such other person or at such other place address as Landlord may from time to time designate in writing. Payments made Tenant hereby acknowledges that late payment by check must be drawn either on a California financial institution Xxxxxx of Rent or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay other sums due hereunder will cause Landlord to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable incur costs not contemplated by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy the exact amount of the Premiseswhich will be extremely difficult to ascertain. Such costs include, in addition to the Monthly Rent hereunder but are not limited to, processing and Additional Rent under Paragraph 7accounting charges, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty late charges which may now or hereafter be furnished to imposed on Landlord for by the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar mortgage or defense to trust deed covering the Leased Premises. Accordingly, if any installment of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all Rent or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, sums due from Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.not be received by Landlord when

Appears in 2 contracts

Samples: Commercial Lease (Globoforce LTD), Commercial Lease (Globoforce LTD)

Monthly Rent. a. Commencing Throughout the Term of this Lease, Lessee will pay Monthly Rent to Lessor for the Leased Premises. Monthly Rent shall consist of Base Monthly Rent as set forth on Page One of the Commencement Date, and continuing thereafter this Lease together with all additional rent (“Additional Rent”) required to be paid by Lessee to Lessor pursuant to Paragraph 6 below Monthly Rent will be paid in advance on or before the first day of each calendar month during of the term hereofTerm. Date of payment is agreed by the parties to this Lease to be the date of postmark on the envelope containing the rent From us Post office payment, Tenant shall pay which will be mailed to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 aboveLessor each month. If Tenant’s obligation to pay Monthly Rent hereunder the Term commences on a day other than the first day of a calendar month, month or if the term of this Lease terminates ends on a day other than the last day of a calendar month, month then the Monthly Rent payable for such partial month shall will be appropriately prorated by Lessor based on the basis actual number of a thirty (30)-day calendar days in such month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he will be paid by Tenant to Landlord, in advanceLessor, without deduction, offset, prior written notice or demand, and without deduction or offset, in immediately available funds of lawful money of the United States of America, or by good check America at Lessor’s Address as described below, to the lockbox location designated by Landlordset forth on Page One of this Lease, or to such other person or at such other place address as Landlord Lessor may from time to time designate in writing. Payments made Lessee hereby acknowledges that late payment by check must Lxxxxx of Monthly Rent or other sums due hereunder will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be drawn either extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on a California financial institution Lessor by the terms of any mortgage or on a financial institution that is a member trust deed covering the Leased Premises. Accordingly, if any installment of the federal reserve system. Notwithstanding the foregoingMonthly Rent or any other sums due from Lessee shall not be received by Lessor when due, Tenant Lessee shall pay to Landlord together with Tenant’s execution of this Lease an amount Lessor a late charge equal to the Monthly Rent payable for the first full calendar month 5% of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the Lease term after Tenantcosts Lessor will incur by reason of late payment by Lxxxxx. Acceptance of such late charges by Lessor shall in no event constitute a waiver of Lxxxxx’s obligation default with respect to pay Monthly Rent shall have commenced hereunder, which such overdue amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy prevent Lessor from exercising any of the Premisesother rights and remedies granted hereunder. Any amount due to Lessor, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent if not paid by Tenant to Landlord when due due, shall bear interest from such date until paid at the date due to the date of payment by Tenant at an annual rate of 10% per annum. Payment of interest (shall not excuse or cure any default hereunder by Lxxxxx. As used on the “Interest Rate”) equal to the lesser first page of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment elsewhere herein, the term “Lease Year” shall mean a period of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for 365 consecutive days. The first Lease year shall commence on the payment of rent due hereunder or for the performance by Tenant first day of the other terms Term of this Lease and succeeding Lease Years shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at lawcommence annually thereafter. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 2 contracts

Samples: Lease Agreement (CardieX LTD), Lease Agreement (CardieX LTD)

Monthly Rent. a. Commencing as For each Monthly Leased Ski Property, (1) If, prior to the Closing Date, the Seller Parties have actually received payment of the Commencement Monthly Rent from a Tenant with respect to the month in which the Closing Date occurs, the Ski Purchaser Closing Cash Consideration and the Canadian Purchaser Closing Consideration, as the case may be, shall be decreased by the amount equal to the product of (a) the amount of Monthly Rent actually received by the Seller Parties for such month divided by the number of calendar days in such month, multiplied by (b) the number of days from the Closing Date through the last day of the applicable month (including the Closing Date). (2) If, prior to the Closing Date, the Seller Parties have not actually received payment of the Monthly Rent from a Tenant with respect to the month in which the Closing Date occurs because such Monthly Rent is not yet due and continuing thereafter on or before payable, the Ski Purchaser Closing Cash Consideration and the Canadian Purchaser Closing Consideration, as the case may be, shall be increased by the amount equal to the product of (a) the aggregate amount of Monthly Rent due from all applicable Tenants for such month divided by the number of calendar days in such month, multiplied by (b) the number of days from the first day of each calendar the applicable month during through the term hereofClosing Date (excluding the Closing Date). (3) If, Tenant shall pay prior to Landlordthe Closing Date, as monthly rent for the Premises, Seller Parties have not actually received payment of the Monthly Rent specified from a Tenant with respect to the month prior to the month in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than which the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar monthClosing Date occurs, then the Monthly Rent payable for such partial month Ski Purchaser Closing Cash Consideration and the Canadian Purchaser Closing Consideration, as the case may be, shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid increased by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the delinquent Monthly Rent payable for such month, and thereafter there shall not be any further adjustment to the first full calendar month Ski Purchaser Closing Cash Consideration or the Canadian Purchaser Closing Consideration on account of any delinquent Monthly Rent. The Ski Purchaser acknowledges that, prior to the Closing Date, the Seller Parties shall have the right to pursue any legal action, proceeding or remedy (including termination of the applicable Company Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first and/or eviction) against any delinquent Tenants for past due and payable hereunderunpaid payments of Monthly Rent. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Epr Properties), Purchase and Sale Agreement (CNL Lifestyle Properties Inc)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on On or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder the term of this Lease commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check cheek as described below, to at the lockbox location designated by Landlordoffice of Shorenstein Company, L.P., at 000 Xxxxxxxxxx Xxxxxx, 00xx xxxxx, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000, or to such other person or at such other place as Landlord may from time to time designate in writingwriting not less than five (5) business days in advance. Payments made by check cheek must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the one (1) month's Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s 's occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding , or (ii) a rate equal to the foregoingsum of six (6) percentage points over the six-month United States Treasury xxxx rate (the "Treasury Rate") in effect from time to time during such delinquency (or if there is no such publicly announced rate, Landlord shall give Tenant notice the rate quoted by the San Francisco Main Office of non-payment Bank of rent when due and five America, NT&SA, or any successor bank thereto, in pricing ninety (5) days after delivery of such notice 90)-day commercial loans to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.csubstantial commercial borrowers). Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 2 contracts

Samples: Office Lease (Digital Island Inc), Office Lease (Digital Island Inc)

Monthly Rent. a. Commencing as of on the Commencement Date, and continuing thereafter Base Rent shall be paid monthly in advance on or before the first day of each calendar month in accordance with the schedule set forth in Section 1. Notwithstanding the foregoing, Base Rent and Additional Rent during the term hereof, Tenant first twelve (12) months of the Term are hereby abated. The Base Rent shall pay to Landlord, as monthly rent for not be adjusted or modified if the Premises, actual rentable square footage of the Monthly Rent specified Premises varies from the rentable square footage set forth in Paragraph 2 aboveSection 1. If Tenant’s obligation to pay Monthly Rent hereunder commences the first anniversary of the Commencement Date shall be on a any day other than the first day of a calendar month, Base Rent for the partial month shall be prorated based on the number of days in that month. Unless otherwise provided herein, commencing on the Commencement Date, Additional Rent shall be paid monthly in advance on or if before the term first day of this Lease terminates each calendar month. If the first anniversary of the Commencement Date shall be on a any day other than the last first day of a calendar month, then Additional Rent for the Monthly Rent payable for such partial month shall be appropriately prorated based on the basis number of a thirty (30)-day days in that month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, and without deduction or offset, in immediately available funds of lawful money of the United States of America, or by good check at Landlord’s Address as described below, to the lockbox location designated by Landlord, set forth in Section 1 or to such other person or at such other place address as Landlord may from time to time designate in writing. Payments made Tenant acknowledges that the late payment of Rent or other sums due hereunder shall cause Landlord to incur costs not contemplated by check must this Lease, the exact amount of which shall be drawn either extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on a California financial institution Landlord by the terms of any mortgage or on a financial institution that is a member trust deed covering the Property. Accordingly, if any installment of the federal reserve system. Notwithstanding the foregoingRent or any other sums due from Tenant shall not be received by Landlord when due, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount a late charge equal to the Monthly Rent payable five percent (5%) of such overdue amount; provided, however, that Tenant shall not be required to pay a late charge for the first full calendar (1st) late payment in any consecutive twelve (12) month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied period to the Monthly Rent first extent Tenant pays the amount due and payable hereunder. b. All amounts payable by within five (5) days after receipt of written notice from Landlord that Tenant failed to Landlord under this Leasemake such payment when due. In addition, or otherwise payable in connection with Tenant’s occupancy of the Premisesany amount due to Landlord, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent if not paid by Tenant to Landlord within sixty (60) days when due shall bear interest from the date due to the date of payment by Tenant until paid at an annual rate of interest (the “Interest Rate”) equal to the lesser of of: (i) twelve the Prime Rate (as hereinafter defined) plus five percent (125%) per annum annum, or (ii) the maximum annual interest highest rate allowed permitted by law on (the “Default Rate”). The term “Prime Rate” shall mean the Prime Rate as published in The Wall Street Journal from time to time. The parties agree that such due date for business loans (not primarily for personal, family or household purposes) not exempt from late charges represent a fair and reasonable estimate of the usury law. Notwithstanding the foregoing, costs Landlord shall give Tenant notice incur by reason of non-late payment of rent when due and five (5) days after delivery by Xxxxxx. The acceptance of such notice late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including the overdue amount or prevent Landlord from exercising any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s rights and remedies under this Lease or at law. e. granted hereunder. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect pay the foregoing amendment to installment of Base Rent for the thirteenth (13th) full calendar month of the Term due hereunder upon execution of this Lease.

Appears in 2 contracts

Samples: Lease Agreement (R F Industries LTD), Lease Agreement (R F Industries LTD)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on On or before the first day of each calendar month during the term hereofLease Term, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph Section 2 aboveabove and in sub-section (b) below. If Tenant’s obligation to pay Monthly Rent hereunder the Lease Term commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day 30) day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to America at Landlord's office specified in the lockbox location designated by LandlordBasic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on in a financial institution that is a member of the federal reserve Federal Reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable . b. The monthly rent for the first full calendar month year one of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount Term shall be applied to the Monthly Rent first due and payable hereunder$4,450.00. b. c. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, Lease in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. d. Tenant acknowledges that late payment of any installment of Monthly Rent will cause Landlord to incur costs not contemplated by this Lease and that the exact amount of such costs would be extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any encumbrance or note secured by the Real Property and the loss of the use of the delinquent funds. Therefore, if any installment of Monthly Rent due from Tenant is not received within ten (10) days of the due date, Tenant shall pay to Landlord on demand an additional sum of six percent (6%) of the overdue installment, which sum represents a fair and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. Acceptance of any late charge shall not constitute a waiver of Tenant's default with respect to the overdue amount, nor prevent Landlord from exercising any of the other rights and remedies available to Landlord. Any rent not paid by Tenant to Landlord when within ten (10) days of the date due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans date, or (not primarily for personal, family or household purposesii) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice rate of non-payment of rent when due and five eighteen percent (518%) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.cper annum. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraphsubsection, shall constitute an Event of Default (as defined in Paragraph Section 25 below) by Tenant under this Lease giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment non-payment of rent. d. e. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder under this Lease or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at lawset forth in Section 25 below. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Lease Agreement (Xybernaut Corp)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, except as otherwise specifically set forth herein, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California Colorado financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for each of the 28th Floor Premises and the 26th Floor Premises the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunderhereunder for the 28th Floor Premises and the 26th Floor Premises, respectively, which amount shall be applied to the Monthly Rent first due and payable hereunderhereunder for the 28th Floor Premises and the 26th Floor Premises, respectively. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any Subject to Paragraph 31 below, any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve fifteen percent (1215%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) in Colorado not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (2U, Inc.)

Monthly Rent. a. Commencing Tenant shall pay to Landlord as monthly rent (the “Monthly Rent”) the sum of ONE HUNDRED EIGHT THOUSAND ONE HUNDRED SIXTY-SIX AND 67/100 DOLLARS ($108,166.67). Monthly Rent allocated to each of the Premises (the “Individual Store Rents”) is listed on Exhibit “A.” The parties acknowledge and agree that the Individual Store Rents are included in Exhibit “A” solely for the convenience and use of the parties in making certain calculations as may be necessary from time to time pursuant to the provisions hereof. By way of example only, in the event: (i) this Lease is terminated pursuant to the terms hereof as to certain (but not all) of the Premises; or (ii) of a conveyance by Landlord of Landlord’s interest in the Lease as to one of more of the Premises prior to expiration or termination hereof; or (iii) of an assignment by Tenant of Tenant’s interest in this Lease as to one or more of the Premises pursuant to the terms hereof, Monthly Rent payable hereunder following said event shall be adjusted by the respective Individual Store Rents. Monthly Rent shall be payable by Tenant to Landlord in advance in equal monthly installments commencing upon the Commencement Date, Date and continuing thereafter on or before the first day of each calendar month during thereafter, without prior notice, invoice, demand, deduction, or offset whatsoever. Landlord shall have the term hereofright to accept all rent and other payments, Tenant whether full or partial, and to negotiate checks and payments thereof without any waiver of rights, irrespective of any conditions to the contrary sought to be imposed by Tenant. All rent shall pay be paid to Landlord, as monthly rent for Landlord at the Premises, the address to which notices to Landlord are given. The Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a for any partial calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of based upon a thirty (30)-day 30) day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Commercial Ground Lease (Palace Entertainment Holdings, Inc.)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on On or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder the term of this Lease commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to at the lockbox location designated by Landlordoffice of Shorenstein Company, L.P., at 000 Xxxxxxxxxx Xxxxxx, 00xx xxxxx, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, if the Commencement Date for the Initial Premises, or the Added Premises Commencement Date for the Added Premises, is delayed as a result of a Tenant Delay, then Tenant's obligation to pay rent for such portion of the Premises shall be accelerated by the number of days of such delay. Further, notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s Xxxxxx's execution of this Lease Lease, an amount equal to the one (1) month's Monthly Rent payable hereunder for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunderPremises, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s Xxxxxx's occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding , or (ii) a rate equal to the foregoingsum of six (6) percentage points over the six-month United States Treasury bill rate (the "Treasury Rate") in effect from time to time during such delinquency (or if there is no such publicly announced rate, Landlord shall give Tenant notice the rate quoted by the San Francisco Main Office of non-payment Bank of rent when due and five America, NT&SA, or any successor bank thereto, in pricing ninety (5) days after delivery of such notice 90)-day commercial loans to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.csubstantial commercial borrowers). Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Ask Jeeves Inc)

Monthly Rent. a. Commencing Subject to the provisions of Subparagraph 5.e. below, commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 aboveSchedule 1 attached hereto. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day the number of days in such month. Except as specifically provided in this Lease, Monthly Rent and Rent, the Additional Rent specified in Paragraph 7 and the Parking Space Rental specified in Paragraph 53 below shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time reasonably designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoingAt Tenant’s option, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to have the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation right to pay Monthly Rent any such amounts by wire transfer, and in such event Landlord shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunderpromptly provide Tenant with appropriate wire instructions. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and hereunder, Additional Rent under Paragraph 77 and the Parking Space Rental specified in Paragraph 53 below, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when within ten (10) days after notice that the same past due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser greater of (i) twelve six percent (126%) per annum or (ii) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release publication H.15(519), published weekly (or such other comparable index as Landlord and Tenant shall reasonably agree upon if such rate ceases to be published) plus two (2) percentage points (but in no event shall the Interest Rate exceed the maximum annual interest rate allowed by law Legal Requirements); provided, however, Tenant shall not be required to pay said interest on the first late payment in any period of twelve (12) consecutive months, unless such due date payment remains unpaid for business loans ten (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (510) days after delivery of such written notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rentTenant. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Warner Music Group Corp.)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California Colorado financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve fifteen percent (1215%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Salt Blockchain Inc.)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on (a) On or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above2. If Tenant’s obligation to pay Monthly Rent hereunder In the event the term of this Lease commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately approximately prorated on the basis of a thirty (30)-day 30) day month. Monthly Rent and the Additional Rent additional rent specified in Paragraph 7 (in accordance with the procedure specified therein) shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice deduction or demand, offset except as expressly provided in immediately available funds of Sections in lawful money of the United States of AmericaAmerica at the office of Xxxxxx Xxxxxx, or by good check as described below000 Xxxxxxx Xxx, to the lockbox location designated by LandlordSouth San Francisco, California 94080, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. (b) All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, Lease in addition to the Monthly Rent hereunder Rent, including without limitation, Tenant's Share of increases in Tax Expenses and Additional Rent under Operating Expenses as provided in Paragraph 7, all amounts which Tenant owes to Landlord on account of the installation by Landlord of any alterations, additions and improvements, and all personal property and other taxes payable by Tenant as provided in Paragraph 18 shall constitute additional rent owed owing by Tenant to Landlord hereunder. c. Any rent . Monthly Rent and additional rent, if not paid by Tenant to Landlord when due after an Event of Default, shall bear interest from the such due date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding law or, if there is no such maximum annual interest rate, at the foregoingrate of interest (the "Prime Rate") announced by the .San Francisco Main Office of Bank of America, Landlord shall give Tenant notice of non-payment of rent when due and five NT&SA (5or any successor bank thereto) as its "reference rate" (or if there is no such "reference rate" announced, the rate announced or charged by such bank in pricing ninety (90) days after delivery of such notice commercial loans to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.csubstantial commercial borrowers) plus four (4) percentage points. Failure by Tenant tenant to pay monthly and/or additional rent when due, including any plus interest accrued under this subparagraphas aforesaid, shall constitute an Event event of Default (as defined in Paragraph 25 below) default by Tenant hereunder giving rise to all the remedies afforded Landlord by landlord under this Lease and at law for nonpayment of rentrents subject to the specific Notice and Cure provisions of subparagraph 5(d) below. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. (c) Notwithstanding anything to the contrary in above, if Landlord shall fail to observe or perform any of the covenants, conditions or provisions to be performed by Landlord under this Lease: , with the exception of Paragraphs 9 and 25 of this Lease, which failure shall continue for a period of thirty (i30) in no event days after written notice thereof given by Tenant, Tenant may any rent cure the same at the expense of Landlord and offset costs actually expended by Tenant from the rental payable by Tenant under this Lease Leases provided, however, that this remedy may not exceed $50,000 in any one (1) year; and further, provided, however, that in the case of default by Landlord which with due diligence cannot be based in whole or in part cured within such thirty (30) day period, such thirty (30) day period sha11 be deemed extended and Tenant's right to cure such default shall not arise if Landlord shall institute within said thirty (30) day period and diligently continue to prosecute to completion all steps necessary to cure such default. (d) Upon Tenant's failure to pay Rent as aforesaid, then on the income or profits derived from fifth day of said month Landlord shall provide written notice to Tenant of the Premisespast due Rent and the five percent (5%) penalty provided in Paragraph 30 of this Lease, except for percentage rent based on gross and Tenant shall have five (5) business days to cure. If Tenant does not netcure in said five (5) receipts or sales; (ii) if the holder business days, such failure shall be an Event of a Superior Interest (Default as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease24.

Appears in 1 contract

Samples: Lease (Montgomery Realty Group Inc)

Monthly Rent. a. Commencing as of the Office Premises Rent Commencement DateDate (as to the Office Premises), and as of the Retail Premises Rent Commencement Date (as to the Retail Premises), and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the respective Monthly Rent amounts specified in Paragraph 2 above. If Tenant’s 's obligation to pay Monthly Rent hereunder for either Increxxxx commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, or, except as expressly provided in this Lease, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, within five (5) Business Days after the mutual execution and delivery of this Lease, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s 's obligation to pay Monthly Rent shall have for the entire Premises shxxx xxve commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s 's occupancy of the Premises, in addition to the Monthly Rent hereunder Renx xxxeunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve eighteen percent (1218%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days Business Days after delivery of such notice to cure such non-payment once in each calendar year (other than the calendar year of the Office Premises Rent Commencement Date, during which such notice shall be give twice) before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent5. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Sharper Image Corp)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the applicable Monthly Rent and Tenant’s Electrical Charge specified in Paragraph 2 aboveabove for the periods referred to therein. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent and Tenant’s Electrical Charge payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent Rent, Tenant’s Electrical Charge and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent and Tenant’s Electrical Charge hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Oscient Pharmaceuticals Corp)

Monthly Rent. a. Commencing Throughout the Term of this Lease, Lessee will pay Monthly Rent to Lessor for the Leased Premises. Monthly Rent shall consist of Base Monthly Rent as set forth on Page One of the Commencement Date, and continuing thereafter this Lease together with all additional rent (“Additional Rent”) required to be paid by Lessee to Lessor pursuant to Paragraph 6 below. Monthly Rent will be paid in advance on or before the first day of each calendar month during of the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 aboveTerm. If Tenant’s obligation to pay Monthly Rent hereunder the Term commences on a day other than the first day of a calendar month, month or if the term of this Lease terminates ends on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall will be appropriately prorated by Lessor based on the basis actual number of a thirty (30)-day calendar days in such month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he will be paid by Tenant to Landlord, in advanceLessor, without deduction, offset, prior written notice or demand, and without deduction or offset, in immediately available funds of lawful money of the United States of America, or by good check America at Lessor’s Address as described below, to the lockbox location designated by Landlordset forth on Page One of this Lease, or to such other person or at such other place address as Landlord Lessor may from time to time designate in writing. Payments made Lessee hereby acknowledges that late payment by check must Lessee of Monthly Rent or other sums due hereunder will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be drawn either extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on a California financial institution Lessor by the terms of any mortgage or on a financial institution that is a member trust deed covering the Leased Premises. Accordingly, if any installment of the federal reserve system. Notwithstanding the foregoingMonthly Rent or any other sums due from Lessee shall not be received by Lessor when due, Tenant and after application of any grace period, Lessee shall pay to Landlord together with Tenant’s execution of this Lease an amount Lessor a late charge equal to the Monthly Rent payable for the first full calendar month 3% of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the Lease term after Tenantcosts Lessor will incur by reason of late payment by Lessee. Acceptance of such late charges by Lessor shall in no event constitute a waiver of Lessee’s obligation default with respect to pay Monthly Rent shall have commenced hereunder, which such overdue amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy prevent Lessor from exercising any of the Premisesother rights and remedies granted hereunder. Any amount due to Lessor, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent if not paid by Tenant to Landlord when due due, and after application of any grace period, shall bear interest from such date until paid at the date due rate of 10% per annum. Payment of interest shall not excuse or cure any default hereunder by Lessee. As used on the first page of this Lease and elsewhere herein, the term “Lease Year” shall mean a period of 365 consecutive days. The first Lease year shall commence on the first day of the Term of this Lease and succeeding Lease Years shall commence annually thereafter. The above notwithstanding, Lessee shall be entitled to one (1) late payment per calendar year without application of the 3% late charge. This one-time per calendar year waiver shall only apply to the date 3% late charge for the month on which it is being waived and shall not, in any way, constitute a waiver of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord rights under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything with respect to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole 3% late charge or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Leaseotherwise.

Appears in 1 contract

Samples: Multi Story Office Building Lease (Heritage-Crystal Clean, Inc.)

Monthly Rent. a. Commencing Tenant shall pay to Landlord, in lawful money of ------------ the United States, Monthly Rent as of follows: commencing on the Commencement Date, and continuing thereafter through the balance of the Term (subject to adjustment pursuant to Paragraph 5.B), the initial Monthly Rent shall equal that amount calculated -------------- pursuant to the Build to Suit Agreement as the Monthly Rent for the Building. Tenant shall have no obligation to pay Monthly Rent before the Commencement Date. Until the Monthly Rent is established under the Build to Suit Agreement, the Monthly Rent shall be deemed to equal that amount designated from time to time in writing by Landlord to Tenant as Landlord's reasonable estimate of the amount of Monthly Rent that will be established under the Build to Suit Agreement upon completion of the construction of the Building (collectively, the "Estimated Monthly Rent"), based upon Landlord's estimate of the Development ---------------------- Costs (as defined in the Build to Suit Agreement) that have been or will be incurred in constructing the Building. Upon the final establishment of the initial Monthly Rent in accordance with the Build to Suit Agreement, Landlord and Tenant shall each execute an addendum to this Lease setting forth the initial Monthly Rent under this Lease. If as of the date the initial Monthly Rent under this Lease is established (the "Rent Establishment Date"), the aggregate amount of Estimated ----------------------- Monthly Rent previously paid by Tenant exceeds the aggregate amount of Monthly Rent payable under this Lease from the Commencement Date to the Rent Establishment Date, then Landlord may elect, in its sole discretion, to either refund such excess to Tenant within thirty (30) days after the Rent Establishment Date, or offset such overpayment against Rent due or remaining due under this Lease. If as of the Rent Establishment Date the aggregate amount of Estimated Monthly Rent previously paid by Tenant is less than the aggregate amount of Monthly Rent payable under this Lease from the Commencement Date to the Rent Establishment Date, then Tenant shall pay the deficiency to Landlord within thirty (30) days after the Rent Establishment Date. Monthly Rent shall be paid in advance, on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advanceTerm, without abatement, deduction, claim, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s an amount equal to one (1) month's advance payment of Monthly Rent for the Premises upon the execution of this Lease an amount equal to by Landlord and Tenant. Additionally, Tenant shall pay, as and with the Monthly Rent payable for Rent, the first full calendar month management fee described in Paragraph 5.C., Tenant's -------------- Percentage Share of Common Area Maintenance Costs pursuant to Paragraph 5.D, the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due ------------- Real Property Taxes and payable hereunder. b. All amounts Impositions payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due15, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) ------------ and the Successor Landlord is advised by its counsel that all or any portion monthly cost of the rent payable under this Lease is or may be deemed insurance premiums required pursuant to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.Paragraph 21.C. --------------

Appears in 1 contract

Samples: Build to Suit Lease (At Home Corp)

Monthly Rent. a. Tenant will pay “Rent” to Landlord for the Premises. Rent shall consist of Base Rent together with all other amounts required to be paid by Tenant to Landlord pursuant to this Lease (“Additional Rent”). Commencing as of on the Rent Commencement Date, and continuing thereafter Base Rent will be paid monthly in advance on or before the first day of each calendar month during in accordance with the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified schedule set forth in Paragraph 2 aboveSection 1. If Tenant’s obligation to pay Monthly the Rent hereunder commences Commencement Date shall be on a any day other than the first day of a calendar month, or if Base Rent for the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated based on the basis number of a thirty (30)-day days in that month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he will be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, and without deduction or offset, in immediately available funds of lawful money of the United States of America, or by good check at Landlord’s Remittance Address as described below, to the lockbox location designated by Landlord, set forth in Section 1 or to such other person or at such other place address as Landlord may from time to time designate in writing. Payments made Tenant acknowledges that the late payment of Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by check must this Lease, the exact amount of which will be drawn either extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on a California financial institution Landlord by the terms of any mortgage or on a financial institution that is a member trust deed covering the Property. Accordingly, if any installment of the federal reserve system. Notwithstanding the foregoingRent or any other sums due from Tenant shall not be received by Landlord when due, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount a late charge equal to the Monthly Rent payable for the first full calendar month five percent (5%) of the Lease term after Tenant’s obligation such overdue amount. In addition, any amount due to pay Monthly Rent shall have commenced hereunderLandlord, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent if not paid by Tenant to Landlord when due due, shall bear interest from the date that is five (5) days after the due to date until paid at the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum annum. The parties agree that such late charges represent a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. The acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to the overdue amount or (ii) prevent Landlord from exercising any of the maximum annual interest rate allowed by law on other rights and remedies granted hereunder. Tenant shall also pay all sales and use taxes and surcharges levied or assessed against all rental payments and other payments due under this Lease, simultaneously with each such due date rental payment. In the event any check, bank draft or negotiable instrument given for business loans (any payment under this Lease shall be dishonored at any time for any reason whatsoever not primarily for personalattributable to Landlord, family or household purposes) not exempt from the usury lawLandlord shall be entitled, in addition to any other remedy that may be available, to an administrative charge of $250.00. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due so long as no default occurs and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s requestcontinuing, Tenant shall execute any document such holder deems necessary be entitled to effect an abatement in the amount of $14,763.00 of the Rent, per month, commencing on the Rent Commencement Date, for the next four (4) months following the Rent Commencement Date (the “Abated Rent Period”). Commencing on the first day of the fifth (5th) month after the Rent Commencement Date, Tenant shall commence to pay all Rent (to wit: both Base Rent and Additional Rent) as required by this Lease (the foregoing amendment concession being the “Rent Abatement”). Tenant agrees and acknowledges that the Rent Abatement is a concession to Tenant to induce Tenant to enter into this Lease with Landlord, and, should a default occur where the Landlord commences an action for damages against Tenant (in addition to any other rights or remedies which Landlord is entitled to pursue against Tenant, whether pursuant to Florida law or under this Lease), Landlord shall be entitled, as part of such claim for damages, to include the amount of Rent (that is, both Rent) which was abated during the Rent Abatement Period.

Appears in 1 contract

Samples: Lease (Capitol Investment Corp. V)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on (a) On or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above2. If Tenant’s obligation to pay Monthly Rent hereunder In the event the term of this Lease commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately approximately prorated on the basis of a thirty (30)-day 30) day month. Monthly Rent and the Additional Rent additional rent specified in Paragraph 7 (in accordance with the procedure specified therein) shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice deduction or demand, offset except as expressly provided in immediately available funds of Sections in lawful money of the United States of AmericaAmerica at the office of Dinesh Maniar, or by good check as described below110 Kimball Way, to the lockbox location designated by LandlordSxxxx Xxx Xxxxcixxx, Xxxxxxxxxx 00000, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. (b) All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, Lease in addition to the Monthly Rent hereunder Rent, including without limitation, Tenant's Share of increases in Tax Expenses and Additional Rent under Operating Expenses as provided in Paragraph 7, all amounts which Tenant owes to Landlord on account of the installation by Landlord of any alterations, additions and improvements, and all personal property and other taxes payable by Tenant as provided in Paragraph 18 shall constitute additional rent owed owing by Tenant to Landlord hereunder. c. Any rent . Monthly Rent and additional rent, if not paid by Tenant to Landlord when due after an Event of Default, shall bear interest from the such due date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding law or, if there is no such maximum annual interest rate, at the foregoingrate of interest (the "Prime Rate") announced by the .San Francisco Main Office of Bank of America, Landlord shall give Tenant notice of non-payment of rent when due and five NT&SA (5or any successor bank thereto) as its "reference rate" (or if there is no such "reference rate" announced, the rate announced or charged by such bank in pricing ninety (90) days after delivery of such notice commercial loans to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.csubstantial commercial borrowers) plus four (4) percentage points. Failure by Tenant tenant to pay monthly and/or additional rent when due, including any plus interest accrued under this subparagraphas aforesaid, shall constitute an Event event of Default (as defined in Paragraph 25 below) default by Tenant hereunder giving rise to all the remedies afforded Landlord by landlord under this Lease and at law for nonpayment of rentrents subject to the specific Notice and Cure provisions of subparagraph 5(d) below. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. (c) Notwithstanding anything to the contrary in above, if Landlord shall fail to observe or perform any of the covenants, conditions or provisions to be performed by Landlord under this Lease: , with the exception of Paragraphs 9 and 25 of this Lease, which failure shall continue for a period of thirty (i30) in no event days after written notice thereof given by Tenant, Tenant may any rent cure the same at the expense of Landlord and offset costs actually expended by Tenant from the rental payable by Tenant under this Lease Leases provided, however, that this remedy may not exceed $50,000 in any one (1) year; and further, provided, however, that in the case of default by Landlord which with due diligence cannot be based in whole or in part cured within such thirty (30) day period, such thirty (30) day period sha11 be deemed extended and Tenant's right to cure such default shall not arise if Landlord shall institute within said thirty (30) day period and diligently continue to prosecute to completion all steps necessary to cure such default. (d) Upon Tenant's failure to pay Rent as aforesaid, then on the income or profits derived from fifth day of said month Landlord shall provide written notice to Tenant of the Premisespast due Rent and the five percent (5%) penalty provided in Paragraph 30 of this Lease, except for percentage rent based on gross and Tenant shall have five (5) business days to cure. If Tenant does not netcure in said five (5) receipts or sales; (ii) if the holder business days, such failure shall be an Event of a Superior Interest (Default as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease24.

Appears in 1 contract

Samples: Lease (Montgomery Realty Group Inc)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable under this Paragraph 5.a. for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Cra International, Inc.)

Monthly Rent. a. Commencing as of Tenant shall pay the First Month’s Base Rent by the Commencement Date. Notwithstanding the foregoing, the parties acknowledge and continuing thereafter agree that under that certain Office Lease Agreement dated May 1, 2007 by and between the parties (the “2007 Lease”), Tenant has previously paid in full all rent due with respect to Suite 2070 up to and including July 31, 2012. Accordingly, no Base Rent shall be due under this Lease by Tenant with respect to Suite 2070 from the Commencement Date up to and including July 31, 2012. Thereafter, on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, deduction or offset, Tenant shall pay Monthly Rent to Landlord, in immediately available funds of lawful money of the United States at the Office of America, or by good check as described below, to the lockbox location designated by LandlordLandlord specified in section C.11. of the Information Sheet, or to such other place or person or at such other place as Landlord may from time to time designate in writingthe manner set forth in Paragraph 31. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy consist of the Premises, in addition to sum of the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder.following: c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or Base Rent. Base Rent in the amount specified in section C.6. of the Information Sheet.; and (ii) Monthly Operating Expense Reimbursement. The Monthly Operating Expense Reimbursement (“Monthly Operating Expense Reimbursement”) shall equal to one twelfth (1/12) of Tenant’s Building Percentage of the maximum annual interest rate allowed amount by law on such due date which Landlord’s estimate of the Operating Expenses for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each relevant calendar year before assessing interest in of the Term exceeds the Base Year Operating Expenses, as such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as terms are defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent15. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon Tenant Improvement Allowance Reimbursement. The Tenant Improvement Allowance Reimbursement (“Tenant Improvement Allowance Reimbursement”) shall equal, for every * dollar ($*) per square foot of Tenant Improvement Allowance utilized by Tenant in accordance with EXHIBIT C, the Successor Landlord’s requestamount of * ($*) divided by the number of months remaining in the Term at the time such Tenant Improvement Allowance is utilized, multiplied by the rentable area specified in section C.2.a. of the Information Sheet. Reimbursement of any Tenant Improvement Allowance hereunder shall execute any document such holder deems necessary to effect commence with the foregoing amendment to this Leasefirst payment of Monthly Rent due immediately after utilization of the Tenant Improvement Allowance by Tenant.

Appears in 1 contract

Samples: Office Lease Agreement

Monthly Rent. a. Commencing as of From and after the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for each calendar month of the PremisesTerm, the Monthly Rent specified set forth in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than Item 9 of the first day of a calendar month, or if the term of this Basic Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day monthProvisions. Monthly Rent for the first partial month of the Term shall be payable at the rate set forth in Item 9 of the Basic Lease Provisions for the first twelve full calendar months of the Term, prorated for the actual number of days. Monthly Rent shall be due and the Additional Rent specified payable to Landlord in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States States, in advance, on the first (1st) day of Americaeach calendar month of the Term, without abatement, deduction, claim or by good check as described belowoffset, to and without prior Notice, invoice or demand, at Landlord’s address for payment of Rent set forth in Item 1 of the lockbox location designated by Landlord, or to such other person Basic Lease Provisions or at such other place as Landlord may from time to time designate in writingdesignate. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member Tenant’s payment of Monthly Rent for the first (1st) month of the federal reserve system. Notwithstanding Term for which Monthly Rent is payable, plus Tenant’s payment of Tenant’s Share of estimated Operating Expenses for the foregoingfirst (1st) month of the Term, Tenant shall pay be delivered to Landlord together concurrently with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease: (i) in , and no event may default by Tenant occurs hereunder beyond any rent under this Lease applicable notice and cure period, Landlord hereby agrees that Tenant shall not be based in whole or in part required to pay Monthly Rent during the period commencing on the income or profits derived from Commencement Date and ending one hundred twenty (120) calendar days thereafter (the Premises, except for percentage rent based on gross (“Abatement Period”). The total amount of Monthly Rent abated during the Abatement Period shall not net) receipts or sales; (ii) if the holder of a Superior Interest (exceed $234,000.00. Except as defined in Paragraph 21 below) succeeds to Landlord’s interest provided in the Lease (“Successor Landlord”) and second paragraph of Section 4.2 below, during the Successor Landlord is advised by Abatement Period, Tenant shall still be responsible for the payment of all of its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s monetary obligations under this Lease and (iii) upon including all Additional Rent. In the Successor Landlord’s requestevent of a default by Tenant under the terms of this Lease that results in termination of this Lease in accordance with the provisions of Article XIX hereof, Tenant shall execute any document such holder deems necessary to effect then as a part of the foregoing amendment to recovery set forth in Article XV of this Lease, Landlord shall be entitled to the immediate recovery, as of the day prior to such termination, of the Monthly Rent that was abated under the provisions of this Section 4.1.

Appears in 1 contract

Samples: Standard Form Lease (Adept Technology Inc)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 aboveabove (“Monthly Rent”). If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day 30) day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demanddemand (except as set forth in this Lease), in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writingthirty (30) days prior writing to Tenant. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution at least thirty (30) days prior to the Commencement Date for Suite 1100 of this Lease the Premises an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding , provided that the foregoing, Landlord shall give first one (1) time (and only the first one (1) time) in any twelve (12) consecutive month period during the term of this Lease that Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant fails to pay rent when due, including any such rent payment shall bear interest accrued under this subparagraph, shall constitute an Event of Default only if (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment such time that) such failure is not cured within two (2) days after receipt by Tenant of rentnotice from Landlord that such rent was not timely paid. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease. f. Provided Tenant is not in default under this Lease (beyond expiration of applicable notice and cure periods), Tenant shall not be obligated to pay Monthly Rent for the Premises for the first five (5) months of the Lease term following the Additional Suites Commencement Date (such abated amount, collectively, is the “Abated Rent”). Tenant shall be and remain obligated during each of such months to pay all Additional Rent otherwise due under this Lease, including, without limitation, pursuant to Article 7 below. In the event of a default by Tenant under this Lease which results in either the early termination of this Lease and/or Tenant vacating and/or being evicted from the Premises, then as part of the recovery permitted Landlord hereunder, Landlord shall be entitled to a recovery of the Abated Rent conditionally abated pursuant to this Section 5.f., i.e., such Abated Rent shall in such case not be deemed to have been forgiven or abated, but shall become immediately due and payable as unpaid rent which had been earned at the date of default.

Appears in 1 contract

Samples: Office Lease (New Relic Inc)

Monthly Rent. a. Commencing as of the Commencement DateTenant shall pay, and continuing thereafter in advance on or before the first day of each calendar month during the term hereofTerm, Tenant shall pay to Landlord, Monthly Rent as monthly specified in Exhibit C (Absolute Net Rental Rate Formula) of the Basic Lease Provisions as the basic rent per month for the Premises. The initial installment of Monthly Rent shall be due and payable upon the Lease Commencement Date. In the case of a partial calendar month at or prior to the beginning of the Term, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than for the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on a daily basis and shall be paid with the basis first month’s rent. Tenant also agrees to pay Landlord any excise, sales or privilege tax, if any, imposed by any governmental authority on account of a thirty (30)-day month. Monthly Rent and this Lease or the Additional Rent specified rent paid hereunder, which tax is in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of Americasubstitution for, or in lieu of, real estate taxes. All payments owning by good check as described belowTENANT pursuant to this lease shall be made to LANDLORD at 0000 Xxxxxx Xxxxx Xxxxxxx, to the lockbox location designated by LandlordXxxxx 000, or to such other person Xxxxxxxxx, XX 00000, or at such other place or places as Landlord LANDLORD may from time to time designate in writinghereafter designate, and shall be made without setoff or deductions and with reasonable attorneys’ fees and costs of collection. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of In the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation event TENANT fails to pay Monthly Rent shall have commenced hereunderany rent, which amount shall expenses, charges or other payments to be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant it pursuant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest this lease within ten (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (510) days after delivery the due date thereof, then any unpaid amounts shall be subject to a late payment administration charge of such notice to cure such non-One Hundred Dollars ($100) per day from the due date of date of payment. Notwithstanding this late payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when duecharge, including nonpayment of any interest accrued amounts due under this subparagraph, lease shall constitute an Event a default by TENANT. It is the intention of Default (as defined in Paragraph 25 below) giving rise LANDLORD and TENANT that this shall be a true net lease; that the rent herein specified shall be net to LANDLORD at all times dining the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms term of this Lease shall in any way be a bar or defense to any lease; and that all costs, expenses, and obligations of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything every kind relating to the contrary in this Lease: (i) in no event may any rent under this Lease Premises shall be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder obligation of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this LeaseTENANT.

Appears in 1 contract

Samples: Lease Agreement (Accuride Corp)

Monthly Rent. a. Commencing Tenant shall pay to Landlord, in lawful money of the United States, Monthly Rent as of follows: commencing on the Commencement Date, and continuing thereafter on or before through the first day balance of each calendar month during the term hereofTerm (subject to adjustment pursuant to Paragraph 5.B), Tenant the initial Monthly Rent shall pay equal that amount calculated pursuant to Landlord, the Build to Suit Agreement as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 abovefor the Building. If Tenant’s Tenant shall have no obligation to pay Monthly Rent hereunder commences on a day other than before the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then Commencement Date. Until the Monthly Rent payable for such partial month is established under the Build to Suit Agreement, the Monthly Rent shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant deemed to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location equal that amount designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made writing by check must be drawn either on a California financial institution or on a financial institution that is a member Landlord to Tenant as Landlord's reasonable estimate of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution amount of this Lease an amount equal to the Monthly Rent payable for that will be established under the first full calendar month Build to Suit Agreement upon completion of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy construction of the PremisesBuilding (collectively, in addition to the "Estimated Monthly Rent hereunder and Additional Rent under Paragraph 7Rent"), shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from based upon Landlord's estimate of the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default Development Costs (as defined in Paragraph 25 belowthe Build to Suit Agreement) giving rise that have been or will be incurred in constructing the Building. Upon the final establishment of the initial Monthly Rent in accordance with the Build to all Suit Agreement, Landlord and Tenant shall each execute an addendum to this Lease setting forth the remedies afforded Landlord initial Monthly Rent under this Lease. If as of the date the initial Monthly Rent under this Lease and at law for nonpayment is established (the "Rent Establishment Date"), the aggregate amount of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance Estimated Monthly Rent previously paid by Tenant exceeds the aggregate amount of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent Monthly Rent payable under this Lease is from the Commencement Date to the Rent Establishment Date, then Landlord may elect, in its sole discretion, to either refund such excess to Tenant within thirty (30) days after the Rent Establishment Date, or may be deemed to be “unrelated business income” within the meaning offset such overpayment against Rent due or remaining due under this Lease. If as of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend Rent Establishment Date the calculation aggregate amount of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Estimated Monthly Rent previously paid by Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.is less than the

Appears in 1 contract

Samples: Build to Suit Lease (At Home Corp)

Monthly Rent. a. Commencing as on the Rent Commencement Date for each Increment of the Commencement DatePremises, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premisessuch Increment, the Monthly Rent specified in Paragraph 2 2.c. above. If Tenant’s obligation to pay Monthly the Rent hereunder commences Commencement Date for any Increment occurs on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for the relevant Increment(s) for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to at the lockbox location designated by Landlordoffice of Shorenstein Company, L.P., at 000 Xxxxxxxxxx Xxxxxx, 00xx xxxxx, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, if the Rent Commencement Date for any Increment is delayed as a result of a Tenant Delay, then Tenant's obligation to pay rent for such Increment shall be accelerated by the number of days of such delay. Further, notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s Xxxxxx's execution of this Lease Lease, an amount equal to the one (1) month's Monthly Rent payable hereunder for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunderPremises, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this LeaseLease (including without limitation Paragraph 56), or otherwise payable in connection with Tenant’s Xxxxxx's occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding , or (ii) a rate equal to the foregoingsum of four (4) percentage points over the six-month United States Treasury bill rate (the "Treasury Rate") in effect from time to time during such delinquency (or if there is no such publicly announced rate, Landlord the rate quoted by the San Francisco Main Office of Bank of America, NT&SA, or any successor bank thereto, in pricing ninety (90)-day commercial loans to substantial commercial borrowers) (provided that the first occurrence of such a delinquency in any twelve (12)-month period that ends on the date of such occurrence shall give cause the delinquent amount to bear interest only if Tenant notice of non-payment of rent when due and fails to pay the delinquent amount within five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.cthe date due). Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Ask Jeeves Inc)

Monthly Rent. a. Commencing as of the Commencement DateDate (but subject to the abatement of Monthly Rent provided for in Paragraph 2.c. above), and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demanddemand except as expressly provided in this Lease, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with TenantXxxxxx’s execution of this Lease an amount equal to the Monthly Rent payable under this Paragraph 5.a. for the first full calendar month of the Lease term after TenantXxxxxx’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder.. 4885-9329-8068.6391320.00007/5-29-24/arb/bwt (4) c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve the rate publicly announced from time to time, by the largest (as measured by deposits) chartered bank operating in California, as its Prime Rate, Reference Rate or other similar benchmark, plus two percent (122%) per annum ); or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding ; provided that the foregoing, Landlord first two (2) occurrences of such a delinquency in any calendar year shall give cause the delinquent amount to bear interest only if Tenant notice of non-payment of rent when due and fails to cure such delinquency within five (5) days after delivery Business Days of such written notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded from Landlord under this Lease and at law for nonpayment of rentthereof. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (e.l.f. Beauty, Inc.)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable under this Paragraph 5.a. plus the Additional Rent payable under Paragraphs 7.a. and 7.b. below, for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent and Additional Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent and Additional Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve ten percent (1210%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Zscaler, Inc.)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on On or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder the term of this Lease commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent 6 specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to at the lockbox location designated by Landlordoffice of Shorenstein Company, L.P., at 500 Xxxxxxxxxx Xxxxxx, 00xx xxxxx, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, if the date of Substantial Completion of the Tenant Improvements is delayed as a result of a Tenant Delay, then Tenant's obligation to pay rent for the Premises shall be accelerated by the number of days of such delay. Further, notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease on or before October 1, 1998, an amount equal to the one (1) month's Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s 's occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding , or (ii) a rate equal to the foregoing, Landlord shall give Tenant notice sum of non-payment of rent when due and five (5) days after delivery percentage points over the six-month United States Treasury bxxx rate (the "Treasury Rate") in effect from time to time during such delinquency (or if there is no such publicly announced rate, the rate quoted by the San Francisco Main Office of such notice Bank of America, NT&SA, or any successor bank thereto, in pricing ninety (90)-day commercial loans to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.csubstantial commercial borrowers). Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Norcal Waste Systems Inc)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on On or before the first day of each calendar month during the term hereofLease Term, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 aboveabove and in subparagraph (b) below. If Tenant’s obligation to pay Monthly Rent hereunder the Lease Term commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day 30) day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to America at Landlord's office specified in the lockbox location designated by LandlordBasic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on in a financial institution that is a member of the federal reserve Federal Reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable . b. The monthly rent for the first full calendar month year one of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount Term shall be applied $6,500.00. Tenant will have 1 option year at 15%. Year Two will be $7,475.00. Tenant must give 30 days notice to the Monthly Rent first due and payable hereunderexecute option year. b. c. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, Lease in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. d. Tenant acknowledges that late payment of any installment of Monthly Rent will cause Landlord to incur costs not contemplated by this Lease and that the exact amount of such costs would be extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any encumbrance or note secured by the Real Property and the loss of the use of the delinquent funds. Therefore, if any installment of Monthly Rent due from Tenant is not received when due, Tenant shall pay to Landlord on demand an additional sum of three percent (3%) of the overdue installment, which sum represents a fair and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. Acceptance of any late charge shall not constitute a waiver of Tenant's default with respect to the overdue amount, nor prevent Landlord from exercising any of the other rights and remedies available to Landlord. Any rent not paid by Tenant to Landlord when within thirty (30) days of the date due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans date, or (not primarily for personal, family or household purposesii) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice rate of non-payment of rent when due and five twelve percent (512%) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.cper annum. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) by Tenant under this Lease giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment non- payment of rent. d. e. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder under this Lease or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined set forth in Paragraph 21 25 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Lease Agreement (Natus Medical Inc)

Monthly Rent. a. Commencing as Subject to the rent abatement periods provided herein, commencing on the Suite 160 Commencement Date and the Full Premises Commencement Date (respectively), Base Rent for the applicable portion of the Commencement DatePremises, and continuing thereafter plus applicable sales tax, shall be paid monthly in advance on or before the first day of each calendar month during month. The Base Rent shall not be adjusted or modified if the term hereof, Tenant shall pay to Landlord, as monthly rent for actual rentable square footage of the Premises, Premises varies from the Monthly Rent specified in Paragraph 2 aboverentable square footage set forth herein by [***]% or less. If Tenant’s obligation to pay Monthly Rent hereunder commences the Suite 160 Commencement Date or the Full Premises Commencement Date (respectively) shall be on a any day other than the first day of a calendar month, Base Rent, plus applicable sales tax, for the partial month shall be prorated based on the number of days in that month. Unless otherwise provided herein, commencing on the Suite 160 Commencement Date and the Full Premises Commencement Date (respectively), Additional Rent, plus applicable sales tax, shall also be paid monthly in advance on or if before the term first day of this Lease terminates each calendar month. If the Suite 160 Commencement Date or the Full Premises Commencement Date (respectively) shall be on a any day other than the last first day of a calendar month, then Additional Rent, plus applicable sales tax, for the Monthly Rent payable for such partial month shall be appropriately prorated based on the basis number of a thirty (30)-day days in that month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, and without deduction or offset, in immediately available funds of lawful money of the United States of America, or by good check at Landlord’s Remittance Address as described below, to the lockbox location designated by Landlord, set forth in Section 1 or to such other person or at such other place address as Landlord may from time to time designate in writing. Payments made Tenant acknowledges that the late payment of Rent or other sums due hereunder shall cause Landlord to incur costs not contemplated by check must this Lease, the exact amount of which shall be drawn either extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on a California financial institution Landlord by the terms of any mortgage or on a financial institution that is a member trust deed covering the Property. Accordingly, if any installment of the federal reserve system. Notwithstanding the foregoingRent or any other sums due from Tenant shall not be received by Landlord within [***] ([***]) days of when due, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount a late charge equal to the Monthly Rent payable for the first full calendar month [***] percent ([***]%) of the Lease term after Tenant’s obligation such overdue amount. In addition, any amount due to pay Monthly Rent shall have commenced hereunderLandlord, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent if not paid by Tenant to Landlord within [***] ([***]) days of when due due, shall bear interest from the date due to the date of payment by Tenant until paid at an annual rate of interest (the “Interest Rate”) equal to the lesser of of: (i) twelve the Prime Rate (as hereinafter defined) plus [***] percent (12[***]%) per annum annum, or (ii) the maximum annual interest highest rate allowed permitted by law on (the “Default Rate”). The term “Prime Rate” shall mean the Prime Rate as published in The Wall Street Journal from time to time. The parties agree that such due date for business loans (not primarily for personal, family or household purposes) not exempt from late charges represent a fair and reasonable estimate of the usury law. Notwithstanding the foregoing, costs Landlord shall give Tenant notice incur by reason of non-late payment of rent when due and five (5) days after delivery by Tenant. The acceptance of such notice late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including the overdue amount or prevent Landlord from exercising any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s rights and remedies under this Lease or at law. e. granted hereunder. Notwithstanding anything to the contrary in this Lease: , Tenant shall pay the Prepaid Rent simultaneously with Tenant’s execution and delivery of this Lease. Notwithstanding the foregoing, Landlord shall not charge Tenant interest or late charges for the first late payment in any [***] (i[***]) in no event may month period provided that Tenant pays any all sums due within [***] ([***]) days of the date due, with any subsequent late payment to incur fees and interest without any additional grace period. Notwithstanding anything to the contrary, at the expiration of any rent under this Lease be based in whole or in part on abatement period, Landlord shall apply the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed Prepaid Rent (as apportioned to be “unrelated business income” within Suite 160 after the meaning expiration of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none Suite 160 Rent Abatement Period and to Suites 150 and 220 after expiration of the rent Suites 150 and 220 Rent Abatement Period) applicable to the first month in which Rent is payable to Landlord under Landlord, and Tenant shall not be obligated to pay Rent for that month, unless the Lease amount of the Prepaid Rent is insufficient to cover the entire amount of the actual Rent due in which case Tenant will constitute “unrelated business income,” but be obligated to pay the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) additional amount owed upon the Successor Landlord’s request, Tenant same terms and at the same time such payment would otherwise be due. The remaining amount of any Prepaid Rent shall execute any document such holder deems necessary to effect the foregoing amendment to this Leasebe credited or applied as set forth above.

Appears in 1 contract

Samples: Lease Agreement (TherapeuticsMD, Inc.)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on On or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder the term of this Lease commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day 30) day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to at the lockbox location designated by Landlordoffice of Shorenstein Management, or Inc., at 555 Xxxxxxxxxx Xxxxxx, 00xx xxxxx, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000, xx to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the one (1) month's initial Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, Lease in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, 7 shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due within five (5) days of the date due, shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding , or (ii) a rate equal to the foregoing, Landlord shall give Tenant notice sum of non-payment of rent when due and five (5) days after delivery percentage points over the publicly announced reference rate (the "Reference Rate") charged on such due date by the San Francisco Main Office of Bank of America, NT&SA (or any successor bank thereto) (or if there is no such notice publicly announced rate, the rate quoted by such bank in pricing ninety (90) day commercial loans to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.csubstantial commercial borrowers). Failure by Tenant to pay rent when duepay, including any interest accrued under this subparagraph, within five (5) days of written notice that such sum was not paid when due, shall constitute an Event of Default (as defined in Paragraph 25 belowhereof) by Tenant under the Lease giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined set forth in Paragraph 21 25 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (CKS Group Inc)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s 's obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s 's execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s 's obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. Notwithstanding the foregoing, if the date of Substantial Completion of the Tenant Improvements is delayed as a result of a Tenant Delay, then Tenant's obligation to pay rent for the Premises shall be accelerated by the number of days of such delay. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s 's occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when within five (5) Business Days following written notice to Tenant that such sum is past due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, ; except that Landlord shall only be required to give Tenant notice of non-payment of rent when due and five one (51) days after delivery of such notice to cure in any calendar year, and after such non-payment once in each calendar year before assessing interest notice is given, any failure by Tenant in such calendar year pursuant to this Paragraph 5.cpay Monthly Rent, Additional Rent or any other amount due hereunder on the date due will subject Tenant to the default interest at the Interest Rate, without the requirement of notice from Landlord of such failure. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Kitara Media Corp.)

Monthly Rent. a. (a) Throughout the Term of this Lease, Tenant will pay “Rent” to Landlord for the Leased Premises. Rent shall consist of Monthly Base Rent as set forth on Page Two of this Lease together with all additional rent (“Additional Rent”) required to be paid by Tenant to Landlord pursuant to Section 6 below, Commencing as of on the Rent Commencement Date, and continuing thereafter monthly Base Rent will be paid in advance on or before the first day of each calendar month during throughout the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 aboveTerm. If Tenant’s obligation to pay Monthly the Rent hereunder Commencement Date shall be on any other day than the first day of a calendar month, then monthly Base Rent will be prorated based upon the actual number of calendar days in such month. Additional Rent will be paid in advance on or before the first day of each calendar month of the Term. If the Term commences on a day other than the first day of a calendar month, month or if the term of this Lease terminates ends on a day other than the last day of a calendar month, then the Monthly Additional Rent payable for such partial month shall will be appropriately prorated by Landlord based on the basis actual number of a thirty (30)-day calendar days in such month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he will be paid by Tenant to Landlord, in advance, without deduction, offset, prior written notice or demand, and without deduction or offset, in immediately available funds of lawful money of the United States of America, or by good check America at Landlord’s Address as described below, to the lockbox location designated by Landlordset forth on Page One of this Lease, or to such other person or at such other place address as Landlord may from time to time designate in writing. Payments made Tenant hereby acknowledges that late payment by check must be drawn either on a California financial institution Xxxxxx of Rent or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay other sums due hereunder will cause Landlord to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable incur costs not contemplated by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy the exact amount of the Premiseswhich will be extremely difficult to ascertain. Such costs include, in addition to the Monthly Rent hereunder but are not limited to, processing and Additional Rent under Paragraph 7accounting charges, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty late charges which may now or hereafter be furnished to imposed on Landlord for by the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar mortgage or defense to trust deed covering the Leased Premises. Accordingly, if any installment of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all Rent or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, sums due from Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.not be received by Landlord when

Appears in 1 contract

Samples: Commercial Lease

Monthly Rent. a. Commencing as of the Rent Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If if Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified Rent.specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when within five (5) Business Days following written notice to Tenant that such sum is past due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, ; except that Landlord shall only be required to give two (2) such notices in any calendar year, and after two (2) such notices are given, any failure by Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.cpay Monthly Rent, Additional Rent or any other amount due hereunder on the date due will subject Tenant to the default interest at the Interest Rate, without the requirement of notice from Landlord of such failure. Failure by Tenant to pay rent when duedue (subject to the notice and cure period, if applicable), including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (New Relic Inc)

Monthly Rent. a. Commencing as Beginning on the date (the "Rent Commencement Date") that is the earlier of (i) thirty (30) days following the Commencement Date, or (ii) the date Tenant commences occupancy of the Premises or any portion thereof for the conduct of business, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above2above. If Tenant’s obligation to pay Monthly the Rent hereunder commences on Commencement Date is a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to at the lockbox location designated by Landlordoffice of Shorenstein Company, L.P., at 000 Xxxxxxxxxx Xxxxxx, 00xx xxxxx, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s 's execution and delivery of this Lease an amount equal to Landlord, the Monthly Rent payable due for the Premises for the first full calendar month of after the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunderCommencement Date, which amount and such payment shall be applied to against the Monthly Rent first due and payable hereunderunder this Lease. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s 's occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when within five (5) days after the date due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law, or (ii) a rate equal to the sum of four (4) percentage points over the six-month United States Treasury xxxx rate (the "Treasury Rate") in effect from time to time during such delinquency (or if there is no such publicly announced rate, the rate quoted by the San Francisco Main Office of Bank of America, N.A., or any successor bank thereto, in pricing ninety (90)-day commercial loans to substantial commercial borrowers). Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, after the expiration of any applicable notice and cure period provided in Paragraph 25.a. below, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Embarcadero Technologies Inc)

Monthly Rent. a. Commencing On the Rent Commencement Date (as of the Commencement Date, defined in Paragraph 4.c. above) and continuing thereafter on or before the first day of each calendar month during thereafter through the term hereofexpiration of the Lease term, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent and Tenant's Electrical Charge specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder the term of this Lease commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent and Tenant's Electrical Charge payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent Rent, Tenant's Electrical Charge and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to at the office of Shorenstein Company, L.P., at 000 Xxxxxxxxxx Xxxxxx, 00xx xxxxx, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000, or the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, if the date of Substantial Completion of the Tenant Improvements is delayed as a result of a Tenant Delay, then Tenant's obligation to pay rent for the Premises shall be accelerated by the number of days of such delay. Further, notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the one (1) month's Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s 's occupancy of the Premises, in addition to the Monthly Rent and Tenant's Electrical Charge hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due (provided that the first occurrence of such a delinquency in any twelve (12)-month period shall cause the delinquent amount to bear interest only if Tenant fails to cure such delinquency within five (5) days of written notice from Landlord thereof) shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding , or (ii) a rate equal to the foregoingsum of six (6) percentage points over the six-month United States Treasury xxxx rate (the "Treasury Rate") in effect from time to time during such delinquency (or if there is no such publicly announced rate, Landlord shall give Tenant notice the rate quoted by the San Francisco Main Office of non-payment Bank of rent when due and five America, NT&SA, or any successor bank thereto, in pricing ninety (5) days after delivery of such notice 90)-day commercial loans to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.csubstantial commercial borrowers. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Lionbridge Technologies Inc /De/)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on On or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s ; provided, however, that Tenant shall have no obligation to pay Monthly Rent hereunder commences on applicable to any floor of the Premises until the Commencement Date applicable to such floor shall have occurred. If any Commencement Date is a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day 30)- day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to at the lockbox location designated by Landlordoffice of Shorenstein Company, L.P., at 000 Xxxxxxxxxx Xxxxxx, 00xx xxxxx, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, if the Commencement Date shall be delayed by reason of Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable Delays, then for the first full calendar month purposes of the Lease term after commencement of Tenant’s 's obligation to pay Monthly Rent shall have commenced hereunderRent, which amount the Commencement Date shall be applied deemed to have occurred on the Monthly Rent first due and payable hereunderdate it would have occurred but for the Tenant Delays. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s 's occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when within five (5) days after the date due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law, or (ii) a rate equal to the sum of four (4) percentage points over the six-month United States Treasury xxxx rate (the "Treasury Rate") in effect from time to time during such delinquency (or if there is no such publicly announced rate, the rate quoted by the San Francisco Main Office of Bank of America, NT&SA, or any successor bank thereto, in pricing ninety (90)-day commercial loans to substantial commercial borrowers). Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent5. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Bea Systems Inc)

Monthly Rent. a. Tenant will pay "Rent" to Landlord for the Premises. Rent shall consist of monthly Base Rent as set forth in Section 1 together with all "Additional Rent" required to be paid by Tenant to Landlord pursuant to this Lease. Commencing as of on the Rent Commencement Date, and continuing thereafter Base Rent will be paid monthly in advance on or before the first day of each calendar month month. So long as no Event of Default is continuing beyond any applicable grace and cure periods, Base Rent shall be (i) fully abated during the term hereof, Tenant shall pay to Landlord, as monthly rent for first six (6) months of the PremisesTerm following the Rent Commencement Date; (ii) abated by the Abatement Percentage during months seven (7) through nineteen (19) following the Rent Commencement Date (the “Abated Rent”). For purposes herein, the Monthly Rent specified in Paragraph 2 above“Abatement Percentage” is 35.41%, calculated as 1 minus (500,000 / rentable square footage of Premises), stated as a percentage, rounded to the nearest tenth of one percent. If Tenant’s obligation to pay Monthly the Rent hereunder commences Commencement Date shall be on a any day other than the first day of a calendar month, or if Base Rent for the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated based on the basis number of a thirty (30)-day days in that month. Monthly Commencing on the Rent Commencement Date, Operating Expenses and Taxes will be paid monthly in advance on or before the Additional first day of each calendar month, as hereinafter provided. Rent specified in Paragraph 7 shall he will be paid by Tenant to Landlord, in advance, without deduction, offset, prior written notice or demand, and without deduction or offset, in immediately available funds of lawful money of the United States of America, or by good check at Landlord's Remittance Address as described below, to the lockbox location designated by Landlord, set forth in Section 1 or to such other person or at such other place address as Landlord may from time to time designate in writing. Payments made Tenant hereby acknowledges that the late payment by check must Xxxxxx of Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be drawn either extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on a California financial institution Landlord by the terms of any mortgage or on a financial institution that is a member trust deed covering the Premises. Accordingly, if any installment of the federal reserve system. Notwithstanding the foregoingRent or any other sums due from Tenant shall not be received by Landlord within five (5) business days of when due, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount a late charge equal to the Monthly Rent payable for the first full calendar month ten percent (10%) of the Lease term after Tenant’s obligation such overdue amount. In addition, any amount due to pay Monthly Rent shall have commenced hereunderLandlord, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent if not paid by Tenant to Landlord within five (5) business days of when due due, shall bear interest from the due date due to until paid at the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve ten percent (1210%) per annum or (ii) annum. The parties hereby agree that such late charges represent a fair and reasonable estimate of the maximum annual interest rate allowed costs Landlord will incur by law on reason of late payment by Xxxxxx. The acceptance of such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, late charges by Landlord shall give Tenant notice in no event constitute a waiver of non-payment of rent when due and five (5) days after delivery of Tenant's default with respect to such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including overdue amount or prevent Landlord from exercising any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s rights and remedies under this Lease or at law. e. granted hereunder. Notwithstanding anything to the contrary in this Lease: , before assessing a late charge or interest for the first time in any twelve (i12) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premisesmonth period, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion shall provide Tenant written notice of the rent payable under this Lease is or may be deemed to be “unrelated business income” delinquency, and shall waive such late charge and interest if Tenant pays such delinquency within the meaning five (5) days following delivery of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation notice of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Leasedelinquency.

Appears in 1 contract

Samples: Lease Agreement (Amprius Technologies, Inc.)

Monthly Rent. a. Commencing as of on the Commencement Date, and continuing thereafter Base Rent shall be paid monthly in advance on or before the first day of each calendar month during in accordance with the term hereof, Tenant schedule set forth in Section 1. The Base Rent shall pay to Landlord, as monthly rent for not be adjusted or modified if the Premises, actual rentable square footage of the Monthly Rent specified Premises varies from the rentable square footage set forth in Paragraph 2 aboveSection 1. If Tenant’s obligation to pay Monthly Rent hereunder commences the Commencement Date shall be on a any day other than the first day of a calendar month, Base Rent for any partial month shall be prorated based on the number of days in that month. Unless otherwise provided herein, commencing on the Commencement Date, Additional Rent shall be paid monthly in advance on or if before the term first day of this Lease terminates each calendar month. If the Commencement Date shall be on a any day other than the last first day of a calendar month, then the Monthly Additional Rent payable for such any partial month shall be appropriately prorated based on the basis number of a thirty (30)-day days in that month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, and without deduction or offset, in immediately available funds of lawful money of the United States of America, or by good check at Landlord’s Remittance Address as described below, to the lockbox location designated by Landlord, set forth in Section 1 or to such other person or at such other place address as Landlord may from time to time designate in writing. Payments made Tenant acknowledges that the late payment of Rent or other sums due hereunder shall cause Landlord to incur costs not contemplated by check must this Lease, the exact amount of which shall be drawn either extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on a California financial institution Landlord by the terms of any mortgage or on a financial institution that is a member trust deed covering the Property. Accordingly, if any installment of the federal reserve system. Notwithstanding the foregoingRent or any other sums due from Tenant shall not be received by Landlord within five (5) business days of when due, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount a late charge equal to the Monthly Rent payable for the first full calendar month five percent (5%) of the Lease term after Tenant’s obligation such overdue amount. In addition, any amount due to pay Monthly Rent shall have commenced hereunderLandlord, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent if not paid by Tenant to Landlord when due due, shall bear interest from the date due to the date of payment by Tenant until paid at an annual rate of interest (the “Interest Rate”) equal to the lesser of of: (i) twelve the Prime Rate (as hereinafter defined) plus five percent (125%) per annum annum, or (ii) the maximum annual interest highest rate allowed permitted by law on (the “Default Rate”). The term “Prime Rate” shall mean the Prime Rate as published in The Wall Street Journal from time to time. The parties agree that such due date for business loans (not primarily for personal, family or household purposes) not exempt from late charges represent a fair and reasonable estimate of the usury law. Notwithstanding the foregoing, costs Landlord shall give Tenant notice incur by reason of non-late payment of rent when due and five (5) days after delivery by Tenant. The acceptance of such notice late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including the overdue amount or prevent Landlord from exercising any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s rights and remedies under this Lease or at law. e. granted hereunder. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute pay the first full monthly installment of Rent due hereunder (i.e. Rent for the first complete month of the Term, or, if applicable, for the first complete month following any document such holder deems necessary to effect the foregoing amendment to initial abatement period) simultaneously with Tenant’s execution and delivery of this Lease.

Appears in 1 contract

Samples: Lease Agreement (JetPay Corp)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on 4.1 On or before the first day of each calendar month during the term hereofTerm, Tenant shall pay to LandlordLandlord the Monthly Rent, as monthly rent for subject to the Premises, adjustments set forth below. Tenant shall pay the Monthly Rent specified to Landlord in Paragraph 2 aboveadvance, without deduction or offset and without notice or demand, in lawful money of the United States of America at Landlord's Address, or at such other place or to such other person as Landlord may designate from time to time by written notice. If Tenant’s obligation to pay Monthly Rent hereunder this Lease commences or ends on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable rental for such partial month shall will be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either computed on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease daily basis in an amount equal to one-thirtieth (1/30) of the Monthly Rent payable for each such day. In addition to the first full calendar month Monthly Rent, Tenant further agrees to pay to Landlord with each installment of the Lease term after Monthly Rent any excise, sales or transaction privilege tax imposed or levied by any government or governmental agency upon Landlord on account of such rent payment and any other payments made hereunder by Tenant’s obligation . 4.2 If Tenant fails to pay Monthly Rent shall have commenced hereunder, which amount shall be applied when due or fails to the Monthly Rent first pay when due and payable hereunder. b. All any other amounts of any kind payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due such unpaid sum shall bear interest at the Default Interest Rate from the date due to the date of payment payment. In addition, if Tenant fails to pay Monthly Rent by Tenant at an annual rate the fifth (5th) day of interest (the “Interest Rate”) equal month in which such installment is due, the Late Fee shall be added to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual Monthly Rent. Any Late Fee and all such interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury lawshall be payable together with Monthly Rent. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due The Default Interest Rate and five (5) days after delivery of such notice Late Fee provisions contained herein are intended to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to reimburse Landlord for the additional costs and expenses Landlord will incur by reason of such late payment and are in addition to and not in lieu of any or all of Landlord's rights and remedies under Article 23 or other provisions hereof. In addition, in the event Tenant is late on two occasions within any 12-month period in the payment of rent Monthly Rent or other sums due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord mayhereunder, at its sole option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will upon not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.less

Appears in 1 contract

Samples: Office Lease Agreement (Ip Voice Com Inc)

Monthly Rent. a. Commencing Subject to the provisions of Subparagraph 5.e. below, commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 aboveSchedule 1 attached hereto. If Tenant’s 's obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day the number of days in such month. Except as specifically provided in this Lease, Monthly Rent and Rent, the Additional Rent specified in Paragraph 7 and the Parking Space Rental specified in Paragraph 53 below shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time reasonably designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoingAt Tenant's option, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to have the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation right to pay Monthly Rent any such amounts by wire transfer, and in such event Landlord shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunderpromptly provide Tenant with appropriate wire instructions. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s 's occupancy of the Premises, in addition to the Monthly Rent hereunder and hereunder, Additional Rent under Paragraph 77 and the Parking Space Rental specified in Paragraph 53 below, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when within ten (10) days after notice that the same past due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser greater of (i) twelve six percent (126%) per annum or (ii) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release publication H.15(519), published weekly (or such other comparable index as Landlord and Tenant shall reasonably agree upon if such rate ceases to be published) plus two (2) percentage points (but in no event shall the Interest Rate exceed the maximum annual interest rate allowed by law Legal Requirements); provided, however, Tenant shall not be required to pay said interest on the first late payment in any period of twelve (12) consecutive months, unless such due date payment remains unpaid for business loans ten (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (510) days after delivery of such written notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rentTenant. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Warner Music Group Corp.)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s 's obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s 's execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s 's obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s 's occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when within three (3) Business Days following written notice to Tenant that such sum is past due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the "Interest Rate") equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, ; except that Landlord shall only be required to give two (2) such notices in any calendar year, and after two (2) such notices are given any failure by Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.cpay Monthly Rent, Additional Rent or any other amount due hereunder on the date due will subject Tenant to the default interest at the Interest Rate, without the requirement of notice from Landlord of such failure. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s 's remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Ask Jeeves Inc)

Monthly Rent. a. Commencing as Tenant’s obligation to pay Monthly Rent shall commence on the Commencement Date and continue until the expiration of the Term of this Lease. Landlord does hereby irrevocably authorize and direct Tenant to make all payments of Monthly Rent directly to the Trustee. The first payment of Monthly Rent shall be paid by the Tenant to the Trustee on the Commencement Date, and continuing thereafter shall be prorated for the remainder of the month in which the Commencement Date occurs in the event that the Commencement Date is not the first day of a month. Beginning with the first month following the Commencement Date, Tenant shall pay to the Trustee at the Trustee’s address set forth in Section 33.7 and without deduction, offset, prior notice or demand in advance on or before the first day of each calendar month during the term hereofTerm an amount equal to Monthly Rent; provided, Tenant shall pay to Landlordhowever, as monthly rent for the Premises, that the Monthly Rent specified payments immediately following the Commencement Date may be reduced, based upon reports provided by the Trustee, by amounts on hand in Paragraph 2 above. If Tenant’s obligation the Bond Fund and available to pay principal on the Bonds in which event the Trustee shall prepare a revised Schedule of Monthly Rent hereunder commences which shall be substituted for the Schedule of Monthly Rent currently annexed hereto as Exhibit A. Semiannually (expected to be the Monthly Rent payments due on a day other than January 1 and July 1), the first day amount of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid reduced by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the interest earnings adjustment referenced in the following sentence which is available to pay principal and interest on the Bonds. The Indenture shall provide that Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by the Tenant prior to Landlord when due shall bear interest from the date due shall be deposited by the Trustee in the Revenue Fund and shall be invested at the direction of the Landlord until such funds are disbursed to Bond Owners. Tenant acknowledges that time is of the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-essence in payment of rent when due Monthly Rent since Landlord intends to use Monthly Rent to make principal and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part payments on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this LeaseBonds.

Appears in 1 contract

Samples: Lease Agreement

Monthly Rent. a. Commencing Tenant shall pay to Landlord, in lawful money of ------------ the United States, Monthly Rent as of follows: commencing on the Commencement Date, and continuing thereafter through the balance of the Term (subject to adjustment pursuant to Paragraph 5.B), the initial Monthly Rent shall equal that amount calculated ------------- pursuant to the Build to Suit Agreement as the Monthly Rent for the Building. Tenant shall have no obligation to pay Monthly Rent before the Commencement Date. Until the Monthly Rent is established under the Build to Suit Agreement, the Monthly Rent shall be deemed to equal that amount designated from time to time in writing by Landlord to Tenant as Landlord's reasonable estimate of the amount of Monthly Rent that will be established under the Build to Suit Agreement upon completion of the construction of the Building (collectively, the "Estimated Monthly Rent"), based upon Landlord's estimate of the Development ---------------------- Costs (as defined in the Build to Suit Agreement) that have been or will be incurred in constructing the Building. Upon the final establishment of the initial Monthly Rent in accordance with the Build to Suit Agreement, Landlord and Tenant shall each execute an addendum to this Lease setting forth the initial Monthly Rent under this Lease. If as of the date the initial Monthly Rent under this Lease is established (the "Rent Establishment Date"), the aggregate amount of Estimated ----------------------- Monthly Rent previously paid by Tenant exceeds the aggregate amount of Monthly Rent payable under this Lease from the Commencement Date to the Rent Establishment Date, then Landlord may elect, in its sole discretion, to either refund such excess to Tenant within thirty (30) days after the Rent Establishment Date, or offset such overpayment against Rent due or remaining due under this Lease. If as of the Rent Establishment Date the aggregate amount of Estimated Monthly Rent previously paid by Tenant is less than the aggregate amount of Monthly Rent payable under this Lease from the Commencement Date to the Rent Establishment Date, then Tenant shall pay the deficiency to Landlord within thirty (30) days after the Rent Establishment Date. Monthly Rent shall be paid in advance, on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advanceTerm, without abatement, deduction, claim, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s an amount equal to one (1) month's advance payment of Monthly Rent for the Premises upon the execution of this Lease an amount equal to by Landlord and Tenant. Additionally, Tenant shall pay, as and with the Monthly Rent payable for Rent, the first full calendar month management fee described in Paragraph 5.C., Tenant's -------------- Percentage Share of Common Area Maintenance Costs pursuant to Paragraph 5.D, the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due ------------- Real Property Taxes and payable hereunder. b. All amounts Impositions payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due15, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) ------------ and the Successor Landlord is advised by its counsel that all or any portion monthly cost of the rent payable under this Lease is or may be deemed insurance premiums required pursuant to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.Paragraph 21.C. --------------

Appears in 1 contract

Samples: Build to Suit Lease (At Home Corp)

Monthly Rent. a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he be paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve eighteen percent (1218%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

Appears in 1 contract

Samples: Office Lease (Homeunion Holdings, Inc.)

Monthly Rent. a. Commencing Tenant shall pay to Landlord, in lawful money of the United States, Monthly Rent as of follows: commencing on the Commencement Date, and continuing thereafter through the balance of the Term (subject to adjustment pursuant to Paragraph 5.B), the initial Monthly Rent shall equal that amount calculated pursuant to the Build to Suit Agreement as the Monthly Rent for the Building. Tenant shall have no obligation to pay Monthly Rent before the Commencement Date. Until the Monthly Rent is established under the Build to Suit Agreement, the Monthly Rent shall be deemed to equal that amount designated from time to time in writing by Landlord to Tenant as Landlord's reasonable estimate of the amount of Monthly Rent that will be established under the Build to Suit Agreement upon completion of the construction of the Building (collectively, the "Estimated Monthly Rent"), based upon Landlord's estimate of the Development Costs (as defined in the Build to Suit Agreement) that have been or will be incurred in constructing the Building. Upon the final establishment of the initial Monthly Rent in accordance with the Build to Suit Agreement, Landlord and Tenant shall each execute an addendum to this Lease setting forth the initial Monthly Rent under this Lease. If as of the date the initial Monthly Rent under this Lease is established (the "Rent Establishment Date"), the aggregate amount of Estimated Monthly Rent previously paid by Tenant exceeds the aggregate amount of Monthly Rent payable under this Lease from the Commencement Date to the Rent Establishment Date, then Landlord may elect, in its sole discretion, to either refund such excess to Tenant within thirty (30) days after the Rent Establishment Date, or offset such overpayment against Rent due or remaining due under this Lease. If as of the Rent Establishment Date the aggregate amount of Estimated Monthly Rent previously paid by Tenant is less than Monthly Rent shall be paid in advance, on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advanceTerm, without abatement, deduction, claim, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s an amount equal to one (1) month's advance payment of Monthly Rent for the Premises upon the execution of this Lease an amount equal to by Landlord and Tenant. Additionally, Tenant shall pay, as and with the Monthly Rent payable for Rent, the first full calendar month management fee described in Paragraph 5.C., Tenant's Percentage Share of Common Area Maintenance Costs pursuant to Paragraph 5.D, the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due Real Property Taxes and payable hereunder. b. All amounts Impositions payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due15, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion monthly cost of the rent payable under this Lease is or may be deemed insurance premiums required pursuant to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.Paragraph 21.C.

Appears in 1 contract

Samples: Build to Suit Lease (At Home Corp)

Monthly Rent. a. Commencing as Tenant’s obligation to pay Monthly Rent shall commence on the Commencement Date and continue until the expiration of the Term of this Lease. Xxxxxxxx does hereby irrevocably authorize and direct Tenant to make all payments of Monthly Rent directly to the Trustee. The first payment of Monthly Rent shall be paid by the Tenant to the Trustee on the Commencement Date, and continuing thereafter shall be prorated for the remainder of the month in which the Commencement Date occurs in the event that the Commencement Date is not the first day of a month. Beginning with the first month following the Commencement Date, Tenant shall pay to the Trustee at the Trustee’s address set forth in Section 33.7 and without deduction, offset, prior notice or demand in advance on or before the first day of each calendar month during the term hereofTerm an amount equal to Monthly Rent; provided, Tenant shall pay to Landlordhowever, as monthly rent for the Premises, that the Monthly Rent specified payments immediately following the Commencement Date may be reduced, based upon reports provided by the Trustee, by amounts on hand in Paragraph 2 above. If Tenant’s obligation the Bond Fund and available to pay principal on the Bonds in which event the Trustee shall prepare a revised Schedule of Monthly Rent hereunder commences which shall be substituted for the Schedule of Monthly Rent currently annexed hereto as Exhibit A. Semiannually (expected to be the Monthly Rent payments due on a day other than January 1 and July 1), the first day amount of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid reduced by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the interest earnings adjustment referenced in the following sentence which is available to pay principal and interest on the Bonds. The Indenture shall provide that Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by the Tenant prior to Landlord when due shall bear interest from the date due shall be deposited by the Trustee in the Revenue Fund and shall be invested at the direction of the Landlord until such funds are disbursed to Bond Owners. Tenant acknowledges that time is of the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-essence in payment of rent when due Monthly Rent since Landlord intends to use Monthly Rent to make principal and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part payments on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this LeaseBonds.

Appears in 1 contract

Samples: Lease Agreement