Net Rent. It is the intent of the Landlord and Tenant that this Lease shall yield, net to Landlord, the Base Rent specified and all Additional Rent and charges in each month during the term of the Lease, and that all costs, expenses and obligations of every kind relating to the Leased Premises shall be paid by the Tenant, unless expressly assumed by the Landlord.
Net Rent. (a) As of the Lease Commencement Date, there shall be due and owing from Tenant to Landlord as minimum rent for the Land (“Net Rent”) the initial annual amount of Fifty cents ($0.50) per rentable square foot of the MOB. The MOB consist of Sixty-nine Thousand Five Hundred Fourteen (69,514) rentable square feet, and the initial annual Net Rent will be Thirty-four Thousand Seven Hundred Fifty Seven and No/100 Dollars ($34,757.00) or adjusted should the rentable square footage of the MOB change pursuant to and in accordance with the provisions of this Lease. Tenant shall commence paying Net Rent to Landlord, in advance, on the Lease Effective Date.
(b) In the event Landlord desires to include in Net Rent the Capital Costs (as defined herein) of any development, planning, construction or reconstruction of any Common Areas, Landlord shall deliver to Tenant written notice (the “Capital Costs Notice”) of the total project cost proposed to be undertaken, together with a description of the project (the “Proposed CA Project”), a detailed cost breakdown thereof, and Tenant’s CA Improvements Share (as defined herein) of the Capital Costs associated with the proposed project. Landlord shall capitalize and amortize all proposed Capital Costs over the useful life of the proposed project in accordance with U.S. GAAP, consistently applied, and the amortized portion thereof shall be the amount on which the proposed Tenant’s CA Improvements Share shall be based. With respect to any Proposed CA Project, Tenant shall be entitled to elect whether to participate or not to participate in such Proposed CA Project and Tenant must make such election in writing within fifteen (15) days after Landlord gives Tenant notice of the Proposed CA Project, as described above, provided, however, Tenant must participate in (i.e., may not decline to participate in) any Proposed CA Project which improves the Required Common Areas. If Tenant is required to or agrees to participate in the Proposed CA Project, Tenant shall pay as an increase to Net Rent to Landlord, Tenant’s CA Improvements Share of the total cost to develop, plan, construct and reconstruct the Common Areas (“Capital Costs”). If Tenant elects not to participate in the Proposed CA Project (or fails to make a timely election) Landlord, notwithstanding any provision contained in this Lease to the contrary, may deny Tenant and any Occupants or any others on the Campus at Tenant’s invitation, form using the Proposed CA Project in any way.
Net Rent. It is the purpose and intent of the Landlord and Tenant that the rent shall be absolutely net to Landlord, so that this lease shall yield, net, to Landlord, the rent specified in Article 3 hereof in each month during the term of the lease, and that all costs, expenses and obligations of every kind and nature whatsoever relating to the Leased Premises which may arise or become due during or out of the term of this lease, shall be paid by the Tenant, except for such obligations and charges as have otherwise expressly been assumed by the Landlord in accordance with the terms and conditions of the lease. Nothing herein shall require the Tenant to undertake obligations in connection with the sale or mortgaging of the Leased Premises, unless otherwise expressly provided in accordance with the terms and conditions of this lease.
Net Rent. It is the intention of the Parties that the Rent received by Landlord be net of any Taxes of any sort to be paid by Landlord. If it is not lawful for Tenant to reimburse Landlord for any of the Taxes, the Minimum Monthly Rent shall be increased by the amount equal to the Taxes allocable to Tenant so as to net to Landlord the amount that it would have received if such Tax had not been imposed.
Net Rent. The term “Net Rent” means the base net rent due for the Subleased Premises during the Sublease Term in the amounts set forth on Exhibit “E” attached hereto:
Net Rent. Effective as of the Additional 17th Floor Premises Rent Commencement Date, (i) Exhibit E – First Amended of the Sublease shall be deleted in its entirety and Exhibit E – Second Amended attached hereto shall be substituted therefor and (ii) the Net Rent payable by Subtenant to Sublandlord in respect of the Subleased Premises from and after the Additional 17th Floor Premises Rent Commencement Date shall be as set forth on Exhibit E – Second Amended attached hereto.
Net Rent. Rent payable under this Sublease will be net and care free to the Sublandlord, and will be payable without deduction or set-off by the Subtenant throughout the Sublease Term. All costs incurred by the Sublandlord in collecting any amounts payable hereunder or enforcing any right or obligation of the Subtenant under this Sublease will be payable by the Subtenant on demand and will be deemed to be Rent for all purposes from the date demand therefor is made. In addition to Rent hereunder, the Subtenant will remit to the Sublandlord any goods and services tax or other tax or imposition collectible by the Sublandlord for the use of the Sublet Premises by the Subtenant or goods or services provided to the Subtenant, and the Sublandlord will be entitled to exercise all remedies in respect of any failure by the Subtenant to pay such amounts as if they were Rent in arrears. From the date any Rent or other amounts payable under this Sublease are due until they are actually paid, they will bear interest at the rate of [percentage] % per annum.
Net Rent. Net Rent during the Term shall be due and payable monthly in arrears on each Payment Date in an amount determined by multiplying (1) the then applicable Acquisition Price for the Property times (2) the lesser of the Applicable Rate for the LIBO Rate Period in which such month falls or the highest lawful rate times (3) a fraction, the numerator of which is the actual number of days in the month in question, and the denominator of which is 360 (or if the highest lawful rate is used in lieu of the Applicable Rate, 365 or 366, as applicable).
Net Rent. It is the intent of Landlord and Tenant that the Basic Monthly Rent and all other rent and sums payable by Tenant to Landlord under this Lease be absolutely net to Landlord and that Tenant shall, except as expressly hereinafter provided, pay (either directly or by payment to Landlord of Tenant’s share of any expenses or costs pursuant to any provision of this Lease) for all insurance, taxes, utilities, repairs, operating expenses, maintenance and all other services and costs relating to the Premises and to Tenant’s use thereof.
Net Rent. Tenant covenants and agrees to pay to Landlord in lawful money of Canada without deduction, abatement or set off, an annual base rent of NINE THOUSAND SIX HUNDRED DOLLARS (9,600.00$) payable in equal consecutive monthly instalments of EIGHT HUNDRED DOLLARSS (800.00$) plus 7% G.S.T. and 7.5% P.S.T. each in advance on the first day of each month during the term hereof for premises located at 0000 Xx. Xxxxxxx Xxxxx,
