Common use of Payment of Base Rent and Additional Rent Clause in Contracts

Payment of Base Rent and Additional Rent. Ten ant shall pay the Base Rent set forth in Section 1 above in equal installments of one-twelfth (1/12) of the annual Base Rent in advance on the first day of each calendar month. Tenant shall pay a proportionate share of such monthly installment for any fraction of a calendar month that occurs at the beginning or end of the Term of this Lease. Tenant shall pay the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent,” without demand or notice and without deduction, abatement, counterclaim, or set-off, to Landlord, at c/o Synergy Investments, 000 Xxxxxxxx Xxxxxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxxxxx 00000, or at such other place as designated from time to time by Landlord in writing. Landlord and Tenant hereby confirm that the Base Rent is not based on Tenant’s income or profit derived from the Premises. If Tenant fails to pay Base Rent or Additional Rent for five (5) calendar days after the date when due, Tenant shall pay a Two Hundred Fifty ($250.00) dollar penalty (“Late Payment Penalty”) to Landlord. Additionally, Tenant shall pay interest at the annual rate of fifteen percent (15%) (the “Late Payment Rate”) per month on unpaid Base Rent and Additional Rent from the date when due until paid. All other charges which Tenant is required to pay in accordance with this Lease, together with all interest and penalties that may accrue thereon, shall be deemed to be “Additional Rent”, and in the event of non-payment thereof by Tenant, Landlord shall have all the rights and remedies as would accrue to Landlord for non-payment of Base Rent. Subject to the terms and conditions of this Lease, Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during the first two (2) months of the Term (the “Rent Abatement Period”). Tenant acknowledges and agrees that the amount of the rent abatement equals $35,574.50 (two (2) months x $17,787.25 = $35,574.50) (the “Rent Abatement”). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and perform the terms and conditions otherwise required under this Lease. If, prior to the expiration of the Rent Abatement Period, Tenant shall be in an Event of Default under this Lease, beyond any applicable notice and cure period, then (i) from and after such Event of Default Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full and (ii) Landlord shall have all rights and remedies set forth in Section 25 (Default) in addition to any and all other rights and remedies available to Landlord at law or in equity.

Payment of Base Rent and Additional Rent. Ten ant Base rent shall pay the Base Rent set forth in Section 1 above in equal installments of one-twelfth (1/12) of the annual Base Rent in advance be paid by tenant on the first day of each and every calendar month during the term hereof. If the commencement date is other than the first day of a calendar month, rent for the portion of the calendar month at the beginning of the term and at the end of the term shall be prorated. The additional rent required to be paid by tenant in Section 2-2(a) shall be determined and paid in the following manner. Landlord shall notify tenant thirty (30) days in advance, in writing, of the estimated amount of the direct expenses to be paid or incurred by landlord (as defined in Section 2-5 and based on the financial statements prepared by landlord's accountants for the prior year) for the then current lease year. For the first lease year hereunder, landlord and tenant shall agree as to the estimated amount of such expenses. Tenant shall pay a proportionate such sum in advance to landlord in equal monthly installments during the balance of the then current lease year on the first day of each remaining month in said lease year commencing on the first day of the first month following tenant's receipt of such notification so that tenant's entire share of such monthly installment for any fraction of a calendar month that occurs at increases shall have been paid to landlord prior to the beginning or end of the Term lease year. Within thirty (30) days following the end of this Leaseeach lease year during the term of any renewal hereof landlord shall submit to tenant a statement showing the actual amount which should have been paid by tenant with respect to these expenses for the past lease year, the amount thereof actually paid during that year by tenant and the amount of any balance or overpayment thereof as the case may be. Any deficiency shall be paid by tenant to landlord within thirty (30) days following tenant's receipt of such statement and any overpayment thereof shall be immediately credited against tenant's additional rent due hereunder. The payments due hereunder shall be made in such manner and at such place or places as landlord may direct in writing and until further notice to: Xx. Xxxxxx X. Fusco 00 Xxxxx XxXxxxx Xxxxxx Xxxxx 000 Xxxxxxx, Xxxxxxxx 00000 Tenant shall pay the full amount of promptly all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent,” without demand or notice and without deduction, abatement, counterclaim, or set-off, to Landlord, at c/o Synergy Investments, 000 Xxxxxxxx Xxxxxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxxxxx 00000, or at such other place as designated from time to time by Landlord in writing. Landlord and Tenant hereby confirm that the Base Rent is not based on Tenant’s income or profit derived from the Premises. If Tenant fails to pay Base Rent or Additional Rent for five (5) calendar days after the date when due, Tenant shall pay a Two Hundred Fifty ($250.00) dollar penalty (“Late Payment Penalty”) to Landlord. Additionally, Tenant shall pay interest at the annual rate of fifteen percent (15%) (the “Late Payment Rate”) per month on unpaid Base Rent and Additional Rent from the date when due until paid. All other charges which Tenant is expenses required to pay in accordance with this Lease, together with all interest and penalties that may accrue thereon, shall be deemed paid directly pursuant to be “Additional Rent”, and in the event of nonSection 2-payment thereof by Tenant, Landlord shall have all the rights and remedies as would accrue to Landlord for non-payment of Base Rent. Subject to the terms and conditions of this Lease, Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during the first two (22(b)(i) months of the Term (the “Rent Abatement Period”). Tenant acknowledges and agrees that the amount of the rent abatement equals $35,574.50 (two (2) months x $17,787.25 = $35,574.50) (the “Rent Abatement”). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and perform the terms and conditions otherwise required under this Lease. If, prior to the expiration of the Rent Abatement Period, Tenant shall be in an Event of Default under this Lease, beyond any applicable notice and cure period, then (i) from and after such Event of Default Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full and (ii) Landlord shall have all rights and remedies set forth in Section 25 (Default) in addition to any and all other rights and remedies available to Landlord at law or in equity)."

Payment of Base Rent and Additional Rent. Ten ant Base rent shall pay the Base Rent set forth in Section 1 above in equal installments of one-twelfth (1/12) of the annual Base Rent in advance be paid by Tenant on the first day of each and every calendar month during the term hereof. If the commencement date is other than the first day of a calendar month, rent for the portion of the calendar month at the beginning of the term and at the end of the term shall be prorated. The additional rent required to be paid by Tenant in Section 2-2(a) shall be determined and paid in the ofllowing manner. Landlord shall notify Tenant thirty (30) days in advance, in writing, of the estimated amount of the direct expenses to be paid or incurred by Landlord (as defined in Section 2-5 and based on the financial statements prepared by Landlord's accountants for the prior year) for the next succeeding 12 month period commencing upon the commencement date of the term of this Lease (such 12 month period, and each succeeding 12 month period thereafter may be referred to as a "Lease Year"). For the first Lease Year, Landlord and Tenant shall agree as to the estimated amount of such expenses. Tenant shall pay a proportionate such sum in advance to Landlord in equal monthly installments during the balance of the then current Lease Year on the first day of each remaining month in said Lease Year commencing on the first day of the first month following Tenant's receipt of such notification so that Tenant's entire share of such monthly installment for any fraction of a calendar month that occurs at increases shall have been paid to Landlord prior to the beginning or end of the Term Lease Year. Within thirty (30) days following the end of this Lease. each Lease Year during the term of any renewal hereof Landlord shall submit to Tenant shall pay a statement showing the full actual amount of all Base Rent and Additional Rent due hereunder and the full amount expenses of all such other sums of money as shall become due Landlord reimbursable by Tenant under this Lease, all the actual amount which should have been paid by Tenant with respect to these expenses for the past Lease year, the amount thereof actually paid during that year by Tenant, and the amount of which hereinafter any balance or overpayment thereof as the case may be collectively called “Rent,” without demand or be. Tenant may, upon notice and without deductionto Landlord given within thirty (30) days after Tenant receives such statement from Landlord, abatementreview, counterclaimcopy, or set-offaudit Landlord's records with respect to such expenses. Any deficiency shall be paid by Tenant to Landlord within thirty (30) days following Tenant's receipt of such statement or completion of Tenant's review of Landlord's records if Tenant has given Landlord notice of such review as provided above, to Landlordand any overpayment thereof shall be immediately credited against Tenant's additional rent due hereunder. The payments due hereunder shall be made in such manner and at such place or places as Landlord may direct in writing and until further notice to: Xxxxxxx Properties, at Inc. c/o Synergy InvestmentsX.X. Xxxxxxx & Associates, 000 Inc. 0000 Xxxx Xxxx Xxxx Xxxxx X-000 Xxxxxxxxx Xxxxxxx, Xxxxxxxx Xxxxxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxxxxx 00000, or at such other place as designated from time to time by Landlord in writing. Landlord and Tenant hereby confirm that the Base Rent is not based on Tenant’s income or profit derived from the Premises. If Tenant fails to pay Base Rent or Additional Rent for five (5) calendar days after the date when due, 00000 Tenant shall pay a Two Hundred Fifty ($250.00) dollar penalty (“Late Payment Penalty”) to Landlord. Additionally, Tenant shall pay interest at the annual rate of fifteen percent (15%) (the “Late Payment Rate”) per month on unpaid Base Rent and Additional Rent from the date when due until paid. All other charges which Tenant is promptly all expenses required to pay in accordance with this Lease, together with all interest and penalties that may accrue thereon, shall be deemed paid directly by Tenant pursuant to be “Additional Rent”, and in the event of nonSection 2-payment thereof by Tenant, Landlord shall have all the rights and remedies as would accrue to Landlord for non-payment of Base Rent. Subject to the terms and conditions of this Lease, Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during the first two (22(b)(i) months of the Term (the “Rent Abatement Period”). Tenant acknowledges and agrees that the amount of the rent abatement equals $35,574.50 (two (2) months x $17,787.25 = $35,574.50) (the “Rent Abatement”). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and perform the terms and conditions otherwise required under this Lease. If, prior to the expiration of the Rent Abatement Period, Tenant shall be in an Event of Default under this Lease, beyond any applicable notice and cure period, then (i) from and after such Event of Default Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full and (ii) Landlord shall have all rights and remedies set forth in Section 25 (Default) in addition to any and all other rights and remedies available to Landlord at law or in equity).

Payment of Base Rent and Additional Rent. Ten ant Subject to the Rent Abatement Period set forth below, Tenant shall pay the Base Rent set forth in Section 1 above in equal installments of one-twelfth (1/12) of the annual Base Rent in advance on the first day of each calendar month. Tenant shall pay a proportionate share of such monthly installment for any fraction of a calendar month that occurs at the beginning or end of the Term of this LeaseRent Abatement Period or Term. Tenant shall pay the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent,” without demand or notice and without deduction, abatement, counterclaim, or set-off, to Landlord, at c/o Synergy InvestmentsXXXXX 10 PO Owner LLC, 000 Xxxxxxxx Xxxxxx, Xxxxx 000X.X. Xxx 000000, Xxxxxx, Xxxxxxxxxxxxx XX 00000-0000, or at such other place as designated from time to time by Landlord in writingwriting at least ten (10) days in advance. Landlord and Tenant hereby confirm that the Base Rent is not based on Tenant’s income or profit derived from the Premises. If Tenant fails to pay Base Rent or Additional Rent for five (5) calendar days Business Days after the date when due, Tenant shall pay to Landlord (a) a Two Hundred Fifty Dollar ($250.00) dollar late payment penalty (“Late Payment Penalty”) to Landlord. Additionally, Tenant shall pay and (b) interest at the annual rate of fifteen percent (15%) (the “Late Payment Rate”) per month on the unpaid Base Rent and Additional Rent amount from the date when due until the date when paid. All other charges which Tenant is required to pay in accordance with this Lease, together with all interest and penalties that may accrue thereon, shall be deemed to be “Additional Rent”” and, and in the event of non-payment thereof by Tenant, Landlord shall have all the rights and remedies as would accrue to Landlord for non-payment of Base Rent. Notwithstanding the foregoing, Tenant shall not be required to pay the Late Payment Penalty or interest at the Late Payment Rate with respect to the first late payment in any calendar year. Subject to the terms and conditions of this Lease, Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during the first two (2) months of the Term (the “Rent Abatement Period”). Tenant acknowledges and agrees that the amount of the rent abatement equals $35,574.50 41,993.84 (two (2) months x $17,787.25 20,996.92 = $35,574.5041,993.84) (the “Rent Abatement”). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and perform the terms and conditions otherwise required under this Lease. If, prior to the expiration of the Rent Abatement Period, Tenant shall be in an Event of Default under this Lease, beyond any applicable notice and cure period, then (i) from and after such Event of Default Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full and (ii) Landlord shall have all rights and remedies set forth in Section 25 (Default) in addition to any and all other rights and remedies available to Landlord at law or in equity.