Common use of Net Rent Clause in Contracts

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. (aThe phrase “Tenant’s proportionate share” shall apply only if Landlord receives a single bxxx for any such items which bxxx covers land buildings or operations of other Tenants otherwise Tenant’s share shall be one hundred percent (100%).) As Tenant agrees to pay as additional rent, promptly and without demand, its proportionate share of all real estate taxes, common area expenses and insurance affecting the real estate (land and building) of which the leased premises form a part. It is the intention of the Lease Commencement Date, there parties that this shall be due a triple net lease. The Landlord and owing from Tenant to Landlord as minimum rent for agree that the Land (“Net Rent”) the initial annual amount of Fifty cents ($0.50) per rentable square foot proportionate share of the MOBabove taxes, common area expenses and insurance to be paid by the Tenant, under the terms of this paragraph, shall be computed on the basis that the total area of the leased premises bears to the total area of the entire premises. The MOB consist Landlord and Tenant further agree that Tenant shall pay its proportionate share of Sixtythe above common area expenses and insurance monthly by paying one-nine Thousand Five Hundred Fourteen (69,514) rentable square feettwelfth the estimated amount with each basic monthly rent installment in a manner similar to the escrow system used by banks in connection with residential mortgages. Annually Landlord, upon submission of the tax, common area expense and insurance bills, shall compute any differences from the estimated monthly payments, notify Tenant of same, 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 adjustment of the MOB change difference shall be made with the next due installment of the basic monthly rent. Photocopies of the tax bxxx, common area expense bills and insurance bills, submitted by the Landlord to the Tenant, shall be sufficient evidence of the amount of taxes, common area expenses and insurance. So long as Tenant is responsible for one hundred percent of such expenses Tenant may make arrangements to pay those expenses when due provided Landlord agrees and Tenant provides adequate proof of timely payment of such expenses. If at any time during the term of this Lease the methods of taxation prevailing at the commencement of the term hereof shall be altered, so that in lieu of or as a supplement to or a substitute for the whole or any part of the real estate taxes now assessed or charged there is an alternate assessment or charge or tax, then such alternate assessment or charge or tax shall be deemed to be included in the real estate taxes payable by the Tenant pursuant to this paragraph and the Tenant shall pay and discharge the same as herein provided in accordance respect to the payment of real estate taxes. The common area expenses herein referred to are the Landlord’s costs of operating, maintaining, replacing and repairing the common areas of the premises (land) of which the leased premises form a part. Such expenses to include, but not limited to, lighting, cleaning, snow removal, policing, landscaping, repairing and patching of the common roadways. The insurance herein is the rental, fire and liability coverage under a policy issued by a commercial insurer licensed to provide insurance in New Jersey. (Any reference to common areas shall apply only if other tenants are sharing use of the demised premises with Tenant. The Landlord and Tenant shall delineate on the provisions attached site plan (Exhibit “B”) those areas which shall be considered “common areas” for the purpose of this LeaseLease Agreement. Landlord also agrees that Tenant may pay its portion of the tax bxxx to Landlord within ten (10) days notice from Landlord of the amount of the bxxx. Tenant shall commence paying Net Rent to Landlord, in advance, pay all of the tax for improvements (so long as it is the only building on the Lease Effective Date. (btaxed property) 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”) and its proportionate share of the total project cost proposed to be undertaken, together with a description land until such time as the Tenant’s portion of the project (the “Proposed CA Project”), a detailed cost breakdown thereof, and property is subdivided out. Landlord agrees that it will use its best efforts to subdivide out Tenant’s CA Improvements Share (as defined herein) portion of the Capital Costs associated with the proposed project. Landlord shall capitalize and amortize all proposed Capital Costs over the useful life property and, if successful, further agrees that upon completion of the proposed project in accordance with U.S. GAAP, consistently applied, subdivision and the amortized portion thereof shall be the amount on which the proposed issuance of a separate tax bxxx to Tenant’s CA Improvements Share shall be based. With respect to any Proposed CA Projectproperty, Tenant shall be entitled may pay said bxxx directly to elect whether the Township of Hxxxxxxx and provide proof of said payment to participate or not to participate in such Proposed CA Project and Tenant must make such election in writing Landlord within fifteen ten (1520) days after Landlord gives of said payment. Tenant notice of reserves the Proposed CA Project, as described above, provided, however, Tenant must participate in (i.e., may not decline right to participate in) audit 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 common area expenses 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 all expenses should be reasonable and any Occupants or any others on the Campus at Tenant’s invitation, form using the Proposed CA Project in any waycustomary.

Net Rent. (aThe phrase "Tenant's proportionate share" shall apply only if Landlord receives a single xxxx for any such items which xxxx covers land buildings or operations of other Tenants otherwise Tenant's share shall be one hundred percent (100%).) As Tenant agrees to pay as additional rent, promptly and without demand, its proportionate share of all real estate taxes, common area expenses and insurance affecting the real estate (land and building) of which the leased premises form a part. It is the intention of the Lease Commencement Date, there parties that this shall be due a triple net lease. The Landlord and owing from Tenant to Landlord as minimum rent for agree that the Land (“Net Rent”) the initial annual amount of Fifty cents ($0.50) per rentable square foot proportionate share of the MOBabove taxes, common area expenses and insurance to be paid by the Tenant, under the terms of this paragraph, shall be computed on the basis that the total area of the leased premises bears to the total area of the entire premises. The MOB consist Landlord and Tenant further agree that Tenant shall pay its proportionate share of Sixtythe above common area expenses and insurance monthly by paying one-nine Thousand Five Hundred Fourteen (69,514) rentable square feettwelfth the estimated amount with each basic monthly rent installment in a manner similar to the escrow system used by banks in connection with residential mortgages. Annually Landlord, upon submission of the tax, common area expense and insurance bills, shall compute any differences from the estimated monthly payments, notify Tenant of same, 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 adjustment of the MOB change difference shall be made with the next due installment of the basic monthly rent. Photocopies of the tax xxxx, common area expense bills and insurance bills, submitted by the Landlord to the Tenant, shall be sufficient evidence of the amount of taxes, common area expenses and insurance. So long as Tenant is responsible for one hundred percent of such expenses Tenant may make arrangements to pay those expenses when due provided Landlord agrees and Tenant provides adequate proof of timely payment of such expenses. If at any time during the term of this Lease the methods of taxation prevailing at the commencement of the term hereof shall be altered, so that in lieu of or as a supplement to or a substitute for the whole or any part of the real estate taxes now assessed or charged there is an alternate assessment or charge or tax, then such alternate assessment or charge or tax shall be deemed to be included in the real estate taxes payable by the Tenant pursuant to this paragraph and the Tenant shall pay and discharge the same as herein provided in accordance respect to the payment of real estate taxes. The common area expenses herein referred to are the Landlord's costs of operating, maintaining, replacing and repairing the common areas of the premises (land) of which the leased premises form a part. Such expenses to include, but not limited to, lighting, cleaning, snow removal, policing, landscaping, repairing and patching of the common roadways. The insurance herein is the rental, fire and liability coverage under a policy issued by a commercial insurer licensed to provide insurance in New Jersey. (Any reference to common areas shall apply only if other tenants are sharing use of the demised premises with Tenant. The Landlord and Tenant shall delineate on the provisions attached site plan (Exhibit "B") those areas which shall be considered "common areas" for the purpose of this LeaseLease Agreement. Landlord also agrees that Tenant may pay its portion of the tax xxxx to Landlord within ten (10) days notice from Landlord of the amount of the xxxx. Tenant shall commence paying Net Rent to Landlord, in advance, pay all of the tax for improvements (so long as it is the only building on the Lease Effective Date. (btaxed property) 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”) and its proportionate share of the total project cost proposed to be undertaken, together with a description land until such time as the Tenant's portion of the project (the “Proposed CA Project”), a detailed cost breakdown thereof, and property is subdivided out. Landlord agrees that it will use its best efforts to subdivide out Tenant’s CA Improvements Share (as defined herein) 's portion of the Capital Costs associated with the proposed project. Landlord shall capitalize and amortize all proposed Capital Costs over the useful life property and, if successful, further agrees that upon completion of the proposed project in accordance with U.S. GAAP, consistently applied, subdivision and the amortized portion thereof shall be the amount on which the proposed issuance of a separate tax xxxx to Tenant’s CA Improvements Share shall be based. With respect to any Proposed CA Project's property, Tenant shall be entitled may pay said xxxx directly to elect whether the Township of Xxxxxxxx and provide proof of said payment to participate or not to participate in such Proposed CA Project and Tenant must make such election in writing Landlord within fifteen ten (1520) days after Landlord gives of said payment. Tenant notice of reserves the Proposed CA Project, as described above, provided, however, Tenant must participate in (i.e., may not decline right to participate in) audit 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 common area expenses 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 all expenses should be reasonable and any Occupants or any others on the Campus at Tenant’s invitation, form using the Proposed CA Project in any waycustomary.

Net Rent. (a) As The Tenant shall pay to the Landlord at the Landlord’s Address (or at such other place as the Landlord may designate in writing from time to time), without offset or deduction, beginning on the date hereof and, thereafter, on the first day of each and every calendar month during the Lease Commencement DateTerm, there shall be due the sum of Eighty One Thousand Eight Hundred Twenty Four and owing from Tenant to Landlord as minimum rent for 67/100 DOLLARS ($81,824.67) (the Land (“Monthly Net Rent”) which is calculated on the initial annual amount basis of Fifty cents ($0.50) 5.56 per rentable square foot per annum. The Monthly Net Rent is referred to as “Net Rent” herein. If the Term commences or ends during the middle of a calendar month, the Monthly Net Rent for such partial monthly period shall be adjusted on a per diem basis by dividing the Monthly Net Rent by the number of days in the month and multiplying the result by the number of days that the Tenant has occupancy of the MOBPremises during such month. The MOB consist of Sixty-nine Thousand Five Hundred Fourteen (69,514) rentable square feet, Landlord and the initial annual Tenant acknowledge and agree that Tenant shall have no obligation to pay Net Rent on any portion of the Premises that have been surrendered to Landlord pursuant to the provisions of Article 2, therefore, the Net Rent payable with respect to any month during the Term following the date Tenant vacates and surrenders the Surrender Space to Landlord will be Thirty-four Thousand Seven Hundred Fifty Seven and No/100 Dollars ($34,757.00) or adjusted should calculated based on the rentable actual square footage of the MOB change pursuant to and in accordance with Building occupied by Tenant as of the provisions first day of this Lease. Tenant shall commence paying Net Rent to Landlord, in advance, on the Lease Effective Datesuch month. (b) In All charges, costs and sums required to be paid by Tenant to Landlord or third parties for the event Landlord desires benefit of the Premises under this Lease in addition to include in Net Rent shall be deemed “Additional Rent,” and Net Rent and Additional Rent shall hereinafter collectively be referred to as “Rent.” Tenant’s covenant to pay Rent shall be independent of every other covenant in this Lease. (c) Monthly Net Rent and any Additional Rent due the Capital Costs (as defined herein) Landlord are payable on the first day of every calendar month in advance without notice, demand, setoff, counterclaim or deduction of any development, planning, construction or reconstruction kind except as provided in this Lease. Additional Rent payable to third parties for the benefit of the Premises is due when such obligation is payable to such third party without the benefit of any Common Areas, Landlord shall deliver to Tenant written notice grace period or late period. (the “Capital Costs Notice”d) of the total project cost proposed This is intended 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 triple net lease” with the proposed project. Landlord shall capitalize and amortize all proposed Capital Costs over Net Rent payable to the useful life of the proposed project in accordance with U.S. GAAP, consistently appliedLandlord, and the amortized portion thereof Tenant is also obligated to pay Real Estate Taxes (hereinafter defined) as hereinafter provided, and all charges and expenses incurred for the maintenance, and repair of the non-structural portions of the Premises, insurance, operating expenses for utilities, services, trash removal, and all other costs of operating the Premises as specified elsewhere in this Lease which costs shall be paid directly by Tenant or as Additional Rent excluding only the amount mortgage debts, land lease rents or other encumbrances on which the proposed Tenant’s CA Improvements Share shall be basedPremises created by the Landlord. With respect Subject to any Proposed CA Projectthe specific provisions set forth in Article 8, 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 it is the intention 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 parties that 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 Landlordall the foregoing costs, Tenant’s CA Improvements Share expenses, repairs, maintenance, and operating costs during the term hereof no matter when such costs and expenses are incurred during the Term except for such costs and expenses which are expressly the obligation of the total cost to develop, plan, construct and reconstruct the Common Areas (“Capital Costs”)Landlord under this Lease. If Landlord pays any of such expenses, the Landlord shall xxxx Tenant elects not to participate in for such expenses and Tenant shall pay Landlord such expenses as Additional Rent. (e) For all Additional Rent expenses, other than Real Estate Taxes (hereinafter defined) on the Proposed CA Project (or fails to make a timely election) LandlordPremises, notwithstanding any provision contained in this Lease the Landlord agrees that the Tenant may pay such expenses directly to the contraryvendor providing such services so long as Tenant is not in default under this Lease, may deny Tenant provides evidence of payment of any expenses if Landlord requests evidence of payment and any Occupants or any others Tenant shall promptly provide to Landlord duplicate copies of the service contract on the Campus at Tenantheating and air conditioning systems and sprinkler inspection agreement upon Landlord’s invitationwritten request. All Additional Rent which is not due and payable on a monthly basis during the Term, form using unless otherwise specified herein, shall be due and payable, (i) if payable to a third party, within the Proposed CA Project time permitted for payment without interest, penalty or default, (ii) if payable to Landlord without specific payment terms set forth herein, within twenty (20) days of delivery by Landlord to Tenant of notice to pay the same, and (iii) if payable to Landlord in any waya specific time or manner set forth herein, in accordance therewith.

Net Rent. (a) As of the Lease Commencement Date, there Sublessee shall be due and owing from Tenant pay to Landlord as minimum Sublessor monthly 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 first day of each month during the event Landlord desires to include in Net Rent the Capital Costs (as defined herein) of any developmentTerm, 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 Rent Schedule attached hereto as Exhibit B. Rent under this Sublease shall be paid without deduction or set-off, except to the extent allowed "Lessee" in the Dominant Lease, in which event there shall be a dollar-for-dollar reduction in the amount of rent payable hereunder during any period of the Term when rent is not payable by Sublessor thereunder. Prior to the Commencement Date, Sublessor shall permit Sublessee without payment of rent to have access (with keys) and to occupy for the purpose of inspecting the Subleased Premises and, at Sublessee's expense and risk, the Subleased Premises (i) to begin work on which cabling and other computer-related 26 installation; (ii) to move certain personalty of Sublessee's into the proposed Tenant’s CA Improvements Share Subleased Premises; and (ii) for storage use and fixturing prior to the Commencement Date. Should the Commencement Date occur on other than the 1st day of a calendar month or should the Expiration Date occur on any day except the last day of a calendar month, the monthly rent for that month shall be basedprorated based on the number of days Sublessee actually occupies the Subleased premises. With respect Upon Commencement Date, Sublessee shall have the right 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 fully occupy the entire Subleased Premises consisting of the Proposed CA Project, as described above, 25,812 rentable square feet; provided, however, Tenant must participate in (i.e.Sublessee intends, may not decline and shall have the right, to participate in) any Proposed CA Project which improves advertise for and subsublease 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 approximately 5,300 square foot portion of the total cost to develop, plan, construct Subleased Premises which has its own separate entrances and reconstruct exits (the Common Areas (“Capital Costs”"5,300 feet"). If Tenant elects not Any rentals received by Sublessee from the 5,300 Feet from any subsubtenant shall belong solely to participate in the Proposed CA Project (or fails to make a timely election) LandlordSublessee, notwithstanding any provision anything to the contrary contained in this Lease to Sublease or 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 wayDominant Lease.

Net Rent. (a) As of the Lease Commencement Date, there Sublessee shall be due and owing from Tenant pay to Landlord as minimum Sublessor monthly 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 first day of each month during the event Landlord desires to include in Net Rent the Capital Costs (as defined herein) of any developmentTerm, 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 Rent Schedule attached hereto as Exhibit B. Rent under this Sublease shall be paid without deduction or set-off, except to the extent allowed "Lessee" in the Dominant Lease, in which event there shall be a dollar-for-dollar reduction in the amount of rent payable hereunder during any period of the Term when rent is not payable by Sublessor thereunder. Prior to the Commencement Date, Sublessor shall permit Sublessee without payment of rent to have access (with keys) and to occupy for the purpose of inspecting the Subleased Premises and, at Sublessee's expense and risk, the Subleased Premises (i) to begin work on which cabling and other computer-related 2 installation; (ii) to move certain personalty of Sublessee's into the proposed Tenant’s CA Improvements Share Subleased Premises; and (ii) for storage use and fixturing prior to the Commencement Date. Should the Commencement Date occur on other than the 1st day of a calendar month or should the Expiration Date occur on any day except the last day of a calendar month, the monthly rent for that month shall be basedprorated based on the number of days Sublessee actually occupies the Subleased premises. With respect Upon Commencement Date, Sublessee shall have the right 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 fully occupy the entire Subleased Premises consisting of the Proposed CA Project, as described above, 25,812 rentable square feet; provided, however, Tenant must participate in (i.e.Sublessee intends, may not decline and shall have the right, to participate in) any Proposed CA Project which improves advertise for and subsublease 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 approximately 5,300 square foot portion of the total cost to develop, plan, construct Subleased Premises which has its own separate entrances and reconstruct exits (the Common Areas (“Capital Costs”"5,300 feet"). If Tenant elects not Any rentals received by Sublessee from the 5,300 Feet from any subsubtenant shall belong solely to participate in the Proposed CA Project (or fails to make a timely election) LandlordSublessee, notwithstanding any provision anything to the contrary contained in this Lease to Sublease or 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 wayDominant Lease.

Net Rent. (a) As The Tenant shall pay to the Landlord at the Landlord’s Address (or at such other place as the Landlord may designate in writing from time to time), without offset or deduction, beginning on the date hereof and, thereafter, on the first day of each and every calendar month during the Lease Commencement DateTerm, there shall be due the sum of Eighty One Thousand Eight Hundred Twenty Four and owing from Tenant to Landlord as minimum rent for 67/100 DOLLARS ($81,824.67) (the Land (“Monthly Net Rent”) which is calculated on the initial annual amount basis of Fifty cents ($0.50) 5.56 per rentable square foot per annum. The Monthly Net Rent is referred to as “Net Rent” herein. If the Term commences or ends during the middle of a calendar month, the Monthly Net Rent for such partial monthly period shall be adjusted on a per diem basis by dividing the Monthly Net Rent by the number of days in the month and multiplying the result by the number of days that the Tenant has occupancy of the MOBPremises during such month. The MOB consist of Sixty-nine Thousand Five Hundred Fourteen (69,514) rentable square feet, Landlord and the initial annual Tenant acknowledge and agree that Tenant shall have no obligation to pay Net Rent on any portion of the Premises that have been surrendered to Landlord pursuant to the provisions of Article 2, therefore, the Net Rent payable with respect to any month during the Term following the date Tenant vacates and surrenders the Surrender Space to Landlord will be Thirty-four Thousand Seven Hundred Fifty Seven and No/100 Dollars ($34,757.00) or adjusted should calculated based on the rentable actual square footage of the MOB change pursuant to and in accordance with Building occupied by Tenant as of the provisions first day of this Lease. Tenant shall commence paying Net Rent to Landlord, in advance, on the Lease Effective Datesuch month. (b) In All charges, costs and sums required to be paid by Tenant to Landlord or third parties for the event Landlord desires benefit of the Premises under this Lease in addition to include in Net Rent shall be deemed “Additional Rent,” and Net Rent and Additional Rent shall hereinafter collectively be referred to as “Rent.” Tenant’s covenant to pay Rent shall be independent of every other covenant in this Lease. (c) Monthly Net Rent and any Additional Rent due the Capital Costs (as defined herein) Landlord are payable on the first day of every calendar month in advance without notice, demand, setoff, counterclaim or deduction of any development, planning, construction or reconstruction kind except as provided in this Lease. Additional Rent payable to third parties for the benefit of the Premises is due when such obligation is payable to such third party without the benefit of any Common Areas, Landlord shall deliver to Tenant written notice grace period or late period. (the “Capital Costs Notice”d) of the total project cost proposed This is intended 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 triple net lease” with the proposed project. Landlord shall capitalize and amortize all proposed Capital Costs over Net Rent payable to the useful life of the proposed project in accordance with U.S. GAAP, consistently appliedLandlord, and the amortized portion thereof Tenant is also obligated to pay Real Estate Taxes (hereinafter defined) as hereinafter provided, and all charges and expenses incurred for the maintenance, and repair of the non-structural portions of the Premises, insurance, operating expenses for utilities, services, trash removal, and all other costs of operating the Premises as specified elsewhere in this Lease which costs shall be paid directly by Tenant or as Additional Rent excluding only the amount mortgage debts, land lease rents or other encumbrances on which the proposed Tenant’s CA Improvements Share shall be basedPremises created by the Landlord. With respect Subject to any Proposed CA Projectthe specific provisions set forth in Article 8, 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 it is the intention 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 parties that 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 Landlordall the foregoing costs, Tenant’s CA Improvements Share expenses, repairs, maintenance, and operating costs during the term hereof no matter when such costs and expenses are incurred during the Term except for such costs and expenses which are expressly the obligation of the total cost to develop, plan, construct and reconstruct the Common Areas (“Capital Costs”)Landlord under this Lease. If Landlord pays any of such expenses, the Landlord shall bxxx Tenant elects not to participate in for such expenses and Tenant shall pay Landlord such expenses as Additional Rent. (e) For all Additional Rent expenses, other than Real Estate Taxes (hereinafter defined) on the Proposed CA Project (or fails to make a timely election) LandlordPremises, notwithstanding any provision contained in this Lease the Landlord agrees that the Tenant may pay such expenses directly to the contraryvendor providing such services so long as Tenant is not in default under this Lease, may deny Tenant provides evidence of payment of any expenses if Landlord requests evidence of payment and any Occupants or any others Tenant shall promptly provide to Landlord duplicate copies of the service contract on the Campus at Tenantheating and air conditioning systems and sprinkler inspection agreement upon Landlord’s invitationwritten request. All Additional Rent which is not due and payable on a monthly basis during the Term, form using unless otherwise specified herein, shall be due and payable, (i) if payable to a third party, within the Proposed CA Project time permitted for payment without interest, penalty or default, (ii) if payable to Landlord without specific payment terms set forth herein, within twenty (20) days of delivery by Landlord to Tenant of notice to pay the same, and (iii) if payable to Landlord in any waya specific time or manner set forth herein, in accordance therewith.