Common use of Payment of Base Rent Clause in Contracts

Payment of Base Rent. After the end of each Operating Year, Sublessor shall submit to Sublessee a reasonably detailed accounting of the Additional Rent charges for such Year, and Sublessor shall certify to the accuracy thereof. If estimated payments theretofore made for such Operating Year by Sublessee exceed Sublessee's required payment on account thereof for such Year, Sublessor shall credit the amount of the overpayment against the next subsequent obligations of Sublessee with respect to Additional Rent charges (or refund such overpayment if the term of this Sublease has ended and Sublessee has no further obligation to Sublessor), but, if the required payments on account thereof for such Operating Year are greater than the estimated payments (if any) theretofore made on account thereof for such Year, Sublessee shall make payment to Sublessor within thirty (30) days after being so advised by Sublessor. Sublessor shall have the same rights and remedies for the nonpayment by Sublessee of any payments due on account of Additional Rent charges as Sublessor has hereunder for the failure of Sublessee to pay Base Rent. For any partial calendar year during the term (e.g. the first and last year), the Additional Rent charges shall be determined in a manner which reflects the partial calendar year, with such adjustment as shall be appropriate. Sublessor shall keep separate books and accounting records covering the Additional Rent charges required to be paid by the Sublessee. Such books and records shall be preserved for a period of 3 years. The Sublessee shall have the right to audit those books and records, and if it is demonstrated that the Sublessee has been overcharged by more than 5%, for any Operating Year, the Sublessor shall reimburse the Sublessee for the cost of the audit, but in any event shall be reimbursed for any overcharges.

Payment of Base Rent. After the end Base Rent shall be paid as follows: (a) Base Rent payable in respect of each Operating Year, Sublessor shall submit to Sublessee a reasonably detailed accounting year of the Additional Rent charges for such Year, and Sublessor Construction Term shall certify to the accuracy thereof. If estimated payments theretofore made for such Operating Year by Sublessee exceed Sublessee's required payment on account thereof for such Year, Sublessor shall credit the amount of the overpayment against the next subsequent obligations of Sublessee with respect to Additional Rent charges (or refund such overpayment if the term of this Sublease has ended and Sublessee has no further obligation to Sublessor), but, if the required payments on account thereof for such Operating Year are greater than the estimated payments (if any) theretofore made on account thereof for such Year, Sublessee shall make payment to Sublessor within thirty (30) days after being so advised by Sublessor. Sublessor shall have the same rights and remedies for the nonpayment by Sublessee of any payments due on account of Additional Rent charges as Sublessor has hereunder for the failure of Sublessee to pay Base Rent. For any partial calendar year during the term (e.g. the first and last year), the Additional Rent charges shall be determined in a manner which reflects the partial calendar year, with such adjustment as shall be appropriate. Sublessor shall keep separate books and accounting records covering the Additional Rent charges required to be paid by the Sublessee. Such books Tenant to the Landlord in advance on the Commencement Date and records on each anniversary of the Commencement Date during the Construction Term; (b) Base Rent payable in respect of an Operating Lease Year (or part thereof) pursuant to Section 3.1(a) shall be preserved paid by the Tenant to the Landlord in advance on the Operating Term Commencement Date and each Anniversary thereafter; (c) Base Rent payable in respect of an Operating Lease Year pursuant to Section 3.1(b) and Section 3.3(b) shall be payable as follows: (i) in respect of the Operating Lease Year in which a Base Rent Increase Event occurs, the Tenant shall pay to the Landlord the pro rata Base Rent for a period such Operating Lease Year as follows: (A) for that part of 3 years. The Sublessee shall have the right to audit those books Operating Lease Year before the Base Rent Increase Event, by multiplying the then-prevailing Base Rent by the quotient of the number of days elapsed in such Operating Lease Year as of the date of the Base Rent Increase Event and recordsthe total number of days in such Operating Lease Year; and (B) for that part of the Operating Lease Year after the Base Rent Increase Event, by multiplying the then-prevailing Base Rent by the quotient of the number of days remaining in such Operating Lease Year as of the date of the Base Rent Increase Event and the total number of days in such Operating Lease Year, and if it is demonstrated the amount determined in accordance with subparagraph 3.4(c)(i)(B) shall be payable in advance, in equal consecutive monthly instalments on the first day of each and every month during such Operating Lease Year following the Base Rent Increase Event; (ii) in respect of each Operating Lease Year following that in which the Sublessee has been overcharged Base Rent Increase Event occurs, Base Rent shall be paid by more than 5%the Tenant to the Landlord in advance in equal consecutive monthly instalments on the first day of each and every month during that period; (iii) in respect of the Operating Lease Year in which the Waterfall Expiry Date occurs, the Tenant shall pay to the Landlord the pro rata Base Rent for any such Operating Lease Year as follows: (A) for that part of the Operating Lease Year before the Waterfall Expiry Date, by multiplying the then-prevailing Base Rent by the quotient of the number of days elapsed in such Operating Lease Year as of the Waterfall Expiry Date and the total number of days in such Operating Lease Year; and (B) for that part of the Operating Lease Year after the Waterfall Expiry Date, by multiplying the then-prevailing Base Rent by the quotient of the number of days remaining in such Operating Lease Year as of the Waterfall Expiry Date and the total number of days in such Operating Lease Year, and the Sublessor shall reimburse the Sublessee for the cost of the audit, but amount determined in any event accordance with subparagraph 3.4(c)(iii)(B) above shall be reimbursed for any overchargespayable in advance, in equal consecutive monthly instalments on the first day of each and every month following the Waterfall Expiry Date; and (iv) in respect of each Operating Lease Year following that in which the Waterfall Expiry Date occurs, Base Rent shall be paid by the Tenant to the Landlord in advance in equal consecutive monthly instalments on the first day of each and every month during that period.

Payment of Base Rent. After (a) Throughout the end Term of this Sublease, Subtenant shall pay to Sublandlord fixed base rent (“Base Rent”) at the rate of: (i) Eighty Thousand Twelve Dollar and 80/100 ($80,012.80) per annum from the Sublease Commencement Date to July 30, 2022; and (ii) and each Operating Year, Sublessor shall submit to Sublessee a reasonably detailed accounting anniversary thereof until the expiration of the Additional Rent charges for such Year, and Sublessor shall certify to the accuracy thereof. If estimated payments theretofore made for such Operating Year Sublease will increase by Sublessee exceed Sublessee's required payment on account thereof for such Year, Sublessor shall credit the amount of the overpayment against the next subsequent obligations of Sublessee two percent (2%) with respect to Additional the prior year’s Base Rent, payable in equal monthly installments as more particularly set forth in Section 4(d). Subtenant shall pay to Sublandlord the first monthly installment of Base Rent charges (or refund such overpayment if at the term time of execution and delivery of this Sublease has ended by Subtenant to Sublandlord and Sublessee has shall pay all other monthly installments of Base Rent no further obligation to Sublessor), but, if the required payments on account thereof for such Operating Year are greater less than the estimated payments five (if any) theretofore made on account thereof for such Year, Sublessee shall make payment to Sublessor within thirty (305) days after being prior to the date same is due under the Primary Lease. Notwithstanding anything to the contrary contained herein, so advised by Sublessor. Sublessor long as there is no default under this Sublease, Subtenant has paid on a timely basis all Base Rent and is occupying the entire Premises subject to the Sublease, monthly Base Rent shall have the same rights and remedies axxxx for the nonpayment by Sublessee first four (4) full calendar months after the Commencement Date (the “Rent Abatement Period”). The total amount of monthly Base Rent abated during the Rent Abatement Period shall be referred to herein as the “Abated Rent.” (b) All Base Rent shall be due and payable without demand therefor and without any payments due deduction, offset, abatement, counterclaim, or defense except as otherwise set forth herein. The monthly installments of Base Rent payable on account of Additional Rent charges as Sublessor has hereunder for the failure of Sublessee to pay Base Rent. For any partial calendar year month during the term (e.g. the first and last year)Term of this Sublease, the Additional Rent charges if any, shall be determined in prorated. (c) Sublandlord and Subtenant acknowledge and agree that this is intended to be a manner which reflects full service Sublease. Subtenant shall not be responsible for any portion of Tenant’s Proportionate Share of Operating Charges or Real Estate Taxes or additional rent throughout the partial calendar year, with such adjustment as Term. (d) Rental Schedule: Base Rent for the Term shall be appropriate. Sublessor shall keep separate books and accounting records covering the Additional Rent charges required to be paid by the Sublessee. Such books and records shall be preserved for a period of 3 years. The Sublessee shall have the right to audit those books and records, and if it is demonstrated that the Sublessee has been overcharged by more than 5%, for any Operating Year, the Sublessor shall reimburse the Sublessee following amounts for the cost following periods of time (calculated on the audit, but in any event shall be reimbursed for any overcharges.basis of a starting rental rate at $19.74 with annual two (2%) percent increases): Time period # Months Rate / RSF Rent/ Month Per Diem Total Rent 08/01/21 11/30/21 4.00 $ 19.74 $ 10,001.60 $ 0.00 12/01/21 07/30/22 8.00 $ 19.74 $ 10,001.60 $ 80,012.80 08/01/22 07/30/23 12.00 $ 20.13 $ 10,201.63 $ 122,419.58 08/01/23 07/30/24 12.00 $ 20.54 $ 10,405.66 $ 124,867.98 08/01/24 07/30/25 12.00 $ 20.95 $ 10,613.78 $ 127,365.34 08/01/25 07/30/26 12.00 $ 21.37 $ 10,826.05 $ 129,912.64 08/01/26 07/30/27 12.00 $ 21.79 $ 11,042.57 $ 132,510.89 08/01/27 10/31/27 3.00 $ 22.23 $ 11,263.43 $ 33,790.28

Payment of Base Rent. After (a) Tenant hereby agrees and covenants to pay to Landlord the Base Rent set forth in the Basic Lease Terms ("Base Rent"), payable in equal monthly installments referenced in the Basic Lease Terms in advance on the first (1st) day of each month during the Lease Term. The Base Rent shall be pro-rated for portions of the calendar month at the beginning and end of the Lease Term and be paid to Landlord as provided in the Basic Lease Terms or at such other place as Landlord shall designate in writing to Tenant in the manner provided herein. Base Rent and the additional rent due hereunder if any shall be paid promptly without notice or demand and without setoff or deduction of any kind, subject only to abatement as expressly provided herein. (b) Tenant will pay Landlord an estimate of the Additional Rent amount of specified in the Basic Lease Terms, monthly in advance on the first (1st) day of each Operating Yearmonth, Sublessor payable at the same time and place as the monthly Base Rent is payable, except, however, if the Lease Term does not begin or end on the first day of a calendar month, Tenant shall submit pay a pro rata portion of such sum for such partial month. Landlord shall have the right to Sublessee a reasonably detailed accounting adjust such monthly estimate as set forth below. (c) Commencing on or after January 1, 2017 and from time to time thereafter (or subsequent to the expiration or other termination of this Lease if applicable), Landlord may give Tenant notice of the total amount paid by Tenant for the relevant year together with the actual amount of Tenant's Proportionate Share of the Additional Rent charges (the "Total Cost") for such Year, and Sublessor shall certify to the accuracy thereofyear. If estimated payments theretofore made the actual amount of Tenant's Proportionate Share of the Total Cost with respect to such period exceeds the aggregate amount previously paid by Tenant with respect thereto during such period, Tenant shall pay to Landlord the deficiency within 30 days following notice from Landlord; however, if the aggregate amount previously paid by Xxxxxx with respect thereto exceeds Xxxxxx's Proportionate Share of the Total Cost for such Operating Year period, then at Landlord's election, such surplus (net of any amount then owing by Sublessee exceed Sublessee's required payment on account thereof for such Year, Sublessor Tenant to Landlord) shall credit the amount of the overpayment be credited against the next subsequent obligations ensuing installment of Sublessee with respect any such cost due hereunder by Xxxxxx or against any other amount of Rent owing by Tenant to Additional Rent charges (Landlord hereunder, or Landlord may refund such overpayment if net surplus to Tenant. Periodically, during the term Term of this Sublease has ended and Sublessee has no further obligation to Sublessor)Lease, but, if the required payments on account thereof for such Operating Year are greater than the estimated payments (if any) theretofore made on account thereof for such Year, Sublessee shall make payment to Sublessor within thirty (30) days after being so advised by Sublessor. Sublessor shall have the same rights and remedies for the nonpayment by Sublessee of any payments due on account of Additional Rent charges as Sublessor has hereunder for the failure of Sublessee to pay Base Rent. For any partial calendar year during the term (e.g. the first and last year), the Additional Rent charges shall be determined in a manner which reflects the partial calendar year, with such adjustment as shall be appropriate. Sublessor shall keep separate books and accounting records covering the Additional Rent charges required to be paid by the Sublessee. Such books and records shall be preserved for a period of 3 years. The Sublessee Landlord shall have the right to audit those books estimate Tenant's Proportionate Share of Additional Rent charges for the next fiscal period (determined by Landlord) of the Term of this Lease, whereupon, Tenant shall pay Landlord such amounts as may be so indicated by Landlord. Tenant's Proportionate Share shall be initially that percentage set forth in of the Basic Lease Terms, initially determined by dividing the (i) rentable area of the Leased Premises (as defined in the Basic Lease Provisions) by (ii) the entire Rentable Area of the Buildings as reasonably calculated by Landlord. If this percentage shall be changed by addition(s) or reductions to the Rentable Area of the Buildings, as for instance a change in the size of the Buildings, renovation of presently un-tenantable space, construction, partial condemnation, fire or other damage, or by conversion of Common Area to rentable area or vice versa, then Tenant's Proportionate Share shall be revised accordingly. (b) If any payment of rent or other sum due hereunder is not received by Landlord by the tenth (10th) day after such payment is due, then the Tenant shall also pay to the Landlord on demand a late payment service charge to cover Landlord's administrative and recordsoverhead expenses of processing late payments equal to the greater of $50.00 or six percent (6.0%) of such unpaid sum; in addition the amount of such rent or other sum due hereunder shall bear interest at an annual rate of eight percent (8%) (or the highest rate permitted under the laws of Maine, if less) from the date when originally due until paid, all unless Tenant demonstrates the delay was due to the U.S. Postal Service's mishandling of mail properly and timely sent. The rights afforded to Landlord pursuant to this Section shall be in addition to and not in lieu of any other rights and remedies Landlord may have under this Lease. (c) Commencing with the end of the second (2nd) year of the term of this Lease (or subsequent to the expiration or other termination of this Lease if applicable), Landlord will give Tenant notice of the total amount paid by Tenant for the relevant year together with the actual amount of Tenant's Proportionate Share of the Additional Rent charges (the "Total Cost") for such year. If the actual amount of Tenant's Proportionate Share of the Total Cost with respect to such period exceeds the aggregate amount previously paid by Tenant with respect thereto during such period, Tenant shall pay to Landlord the deficiency within 30 days following notice from Landlord; however, if the aggregate amount previously paid by Tenant with respect thereto exceeds Xxxxxx's Proportionate Share of the Total Cost for such period, then, at Landlord's election, such surplus (net of any amount then owing by Tenant to Landlord) shall be credited against the next ensuing installment of any such cost due hereunder by Xxxxxx or against any other amount of Rent owing by Tenant to Landlord hereunder, or Landlord may refund such net surplus to Xxxxxx. Periodically, during the Term of this Lease, Landlord shall have the right to estimate Tenant's Proportionate Share of Additional Rent charges for the next fiscal period (determined by Landlord) of the Term of this Lease, whereupon, Tenant shall pay Landlord such amounts as may be so indicated by Landlord. (d) No payment by Tenant or receipt by Landlord of any lesser amount than the amount stipulated to be paid hereunder shall be deemed other than on account of the earliest stipulated Base Rent or additional rent charges; nor shall any endorsement or statement on any check or letter be deemed an accord and satisfaction, and if it is demonstrated Landlord may accept any check or payment without prejudice to Landlord's right to recover the balance due or to pursue any other remedy available to Landlord. Any payment by Tenant or acceptance by Landlord of an amount less than that due under the Sublessee has been overcharged terms hereof will be treated as a payment on account, regardless of any endorsement appearing on any such check or any statement made by more than 5%, for any Operating Year, Tenant to the Sublessor shall reimburse the Sublessee for the cost of the audit, but in any event shall be reimbursed for any overchargescontrary.

Payment of Base Rent. After Except as specifically provided for herein, the end of each Operating YearBase Rent shall be payable without offset, Sublessor abatement or other deduction to Landlord at the address set forth in SECTION 16, or to such other person, firm or corporation at such other address as Landlord may designate by notice in writing to Tenant. SECTION 3.2.1 This Lease is intended to be absolutely net to Landlord, so that this Lease shall submit to Sublessee a reasonably detailed accounting of yield the Additional Base Rent charges for such Year, and Sublessor shall certify net to the accuracy thereofLandlord. If estimated payments theretofore made for such Operating Year Tenant shall pay to Landlord, net throughout the Lease Term, the Base Rent prescribed by Sublessee exceed Sublessee's SECTION 3.1, free of any offset, abatement, or other deduction, except as may be expressly set forth herein. Except as may otherwise be expressly set forth herein, Landlord shall not be required to make any payment on account thereof for such Year, Sublessor shall credit the amount of the overpayment against the next subsequent obligations of Sublessee any kind with respect to the Premises and Tenant agrees to pay as they become due and payable all costs, expenses, and obligations of every kind relating to the Premises whether usual or unusual, ordinary or extraordinary, foreseen or unforeseen, which may arise or become due following the Commencement Date (the "Additional Rent"). Base Rent and Additional Rent charges are sometimes referred to collectively herein as "Rent". Notwithstanding the foregoing, Landlord shall be responsible for making all payments due with respect to any mortgage or deed of trust secured by the Premises (the "Facility Mortgage") and all income taxes assessed against Landlord, and all estate, succession, transfer or refund such overpayment if inheritance taxes of Landlord. SECTION 3.2.2 This Lease shall continue in full force and effect, and the term obligations of this Sublease has ended and Sublessee has no further obligation to Sublessor)Tenant hereunder shall not be released, butdischarged or otherwise affected for any cause whatsoever, if the required payments on account thereof for such Operating Year are greater than the estimated payments (if any) theretofore made on account thereof for such Yearincluding, Sublessee shall make without limitation, casualty. SECTION 3.2.3 If any payment to Sublessor within thirty (30) days after being so advised by Sublessor. Sublessor shall have the same rights and remedies for the nonpayment by Sublessee of any payments due on account of Additional Rent charges as Sublessor has hereunder for the failure of Sublessee to pay Base Rent. For any partial calendar year during the term (e.g. the first and last year), the Additional Rent charges shall be determined in a manner which reflects the partial calendar year, with such adjustment as shall be appropriate. Sublessor shall keep separate books and accounting records covering the Additional Rent charges sums required to be paid by Tenant to Landlord under this Lease and payments made by Landlord under any provision hereof for which Landlord is entitled to reimbursement by Tenant is not paid within ten (10) days after the Sublessee. Such books same is due, interest at the "Lease Rate" plus four percent (4%) per annum, shall accrue on such sum and records be paid to Landlord from the original date due until actually paid and a late charge of 5% of such overdue amount shall be preserved for due to Landlord. No failure by Landlord to insist upon the strict performance by Tenant of Tenant's obligation to pay such interest or late charges shall constitute a period waiver by Landlord of 3 years. The Sublessee shall have its rights to enforce the right to audit those books and records, and if it is demonstrated that the Sublessee has been overcharged by more than 5%, for any Operating Year, the Sublessor shall reimburse the Sublessee for the cost provisions of the audit, but this Section in any event shall be reimbursed for any overchargesinstance thereafter occurring.

Payment of Base Rent. After (a) The District shall, subject only to the end other Sections of each Operating Yearthis Article, Sublessor shall submit to Sublessee a reasonably detailed accounting of the Additional pay Base Rent charges from funds legally available for such Year, and Sublessor shall certify purpose directly to the accuracy thereof. If estimated payments theretofore made for such Operating Year by Sublessee exceed Sublessee's required payment Trustee during the Lease Term in immediately available funds on account thereof for such Year, Sublessor the Base Rent Payment Dates set forth in Exhibit B hereto; provided that there shall credit be credited against the amount of Base Rent payable on any Base Rent Payment Date the overpayment amount on deposit in the Certificate Fund representing (i) earnings from the investment of moneys in the Certificate Fund, (ii) moneys transferred to the Certificate Fund from the Leased Property Project Account pursuant to the Indenture that are not applied to the prepayment of Base Rent pursuant to Section 6.01(b) hereof and (iii) moneys delivered to the Trustee by the District or any other Person that are accompanied by instructions to apply the same to the payment of Base Rent or to deposit the same in the Certificate Fund. Thirty days prior to each Base Rent Payment Date, the Trustee shall notify the District as to the exact amounts that will be credited against the Base Rent due on such date. If further amounts that are to be credited against Base Rent accrue during such 30-day period, such amounts shall be carried over to be applied as a reduction of the Base Rent payable on the next subsequent obligations succeeding Base Rent Payment Date. (b) A portion of Sublessee with respect to Additional each payment of Base Rent charges is paid as, and represents payment of, interest, and Exhibit B hereto sets forth the interest component of each payment of Base Rent. (or refund c) Upon receipt by the Trustee of each payment of Base Rent, the Trustee shall apply the amount of each Base Rent payment when received in the following manner and order: (A) first, the amount of such overpayment if payment of Base Rent paid as interest shall be deposited in the term Interest Account of this Sublease has ended the Certificate Fund; and, (B) second, the remaining portion of such payment of Base Rent shall be deposited in the Principal Account of the Certificate Fund. (d) The Base Rent set forth in Exhibit B hereto shall be recalculated by the District and Sublessee has no further obligation to Sublessor), but, if confirmed by the required payments on account thereof for such Operating Year are greater than Trustee in the estimated payments (if any) theretofore made on account thereof for such Year, Sublessee shall make payment to Sublessor within thirty (30) days after being so advised by Sublessor. Sublessor shall have the same rights and remedies for the nonpayment by Sublessee event of any payments due on account of Additional Rent charges as Sublessor has hereunder for the failure of Sublessee to pay Base Rent. For any partial calendar year during the term (e.g. the first and last year), the Additional Rent charges shall be determined in a manner which reflects the partial calendar year, with such adjustment as shall be appropriate. Sublessor shall keep separate books and accounting records covering the Additional Rent charges required to be paid by the Sublessee. Such books and records shall be preserved for a period of 3 years. The Sublessee shall have the right to audit those books and records, and if it is demonstrated that the Sublessee has been overcharged by more than 5%, for any Operating Year, the Sublessor shall reimburse the Sublessee for the cost redemption of the auditCertificates prior to maturity, but as provided in any event shall be reimbursed for any overchargesArticle IV of the Indenture.