Common use of Payment of Base Rent Clause in Contracts

Payment of Base Rent. Commencing as of the Date of Rent Commencement, Tenant shall pay Base Rent to Landlord, or to Lender if directed by Landlord in writing, at the business address of Landlord or Lender, as the case may be, specified herein, or at such other address as Landlord or Lender, as the case may be, shall from time to time designate by written notice to Tenant. The Base Rent shall be due and payable in the amounts set forth on Schedule 1 hereto, which Schedule 1 is incorporated herein by this reference. Tenant shall commence paying Base Rent on the Date of Rent Commencement (which Date of Rent Commencement is not required to occur on the first day of a month), and to the extent that the Date of Rent Commencement does not fall on the first day of a calendar month, then Base Rent for the calendar month in which the Date of Rent Commencement occurs shall be prorated based on the number of days in the calendar month in which the Date of Rent Commencement occurs. Other than payment of Base Rent on the Date of Rent Commencement (to the extent that the Date of Rent Commencement does not occur on the first day of a calendar month), Base Rent shall be due and payable on the first day of each month (or if such first day is not a business day, the first business day of each month) during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Base Rent shall be paid by wire or Automatic Clearing House (ACH) transfer to the account specified in the rent direction letter from Landlord to Tenant.

Appears in 2 contracts

Samples: Master Lease (Summit Healthcare REIT, Inc), Lease Agreement (Cornerstone Core Properties REIT, Inc.)

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Payment of Base Rent. Commencing as of on the Date of Rent CommencementCommencement Date, Tenant shall pay Base Rent to Landlord, or to Lender if directed by Landlord in writing, at the business address of Landlord or Lender, as the case may be, specified herein, or at such other address as Landlord or Lender, as the case may be, shall from time to time designate by written notice to Tenant. The Base Rent for each Lease Year shall be due and payable in the amounts monthly installments, in advance, without setoff, demand, notice, deduction, offset or counterclaim (other than as expressly set forth in Section 22.8), on Schedule 1 hereto, which Schedule 1 is incorporated herein by this reference. Tenant shall commence paying Base Rent on the Date of Rent Commencement (which Date of Rent Commencement is not required to occur on or before the first day of a month), each and to the extent that the Date of Rent Commencement does not fall on the first day of a calendar month, then Base Rent for the every calendar month in which during the Date of Rent Commencement occurs shall be prorated based on the number of days in the calendar month in which the Date of Rent Commencement occursTerm. Other than The first payment of Base Rent on the Date of Rent Commencement (to the extent that the Date of Rent Commencement does not occur on the first day of a calendar month), Base Rent shall be due and payable on the Rent Commencement Date. Tenant’s occupancy of the Premises (or any portion thereof) prior to the Rent Commencement Date shall not cause the Base Rent or any Additional Rent to be payable prior to the Rent Commencement Date. If the Rent Commencement Date is a day other than the first (1st) day of each a calendar month, the monthly installment of Base Rent for such month shall be prorated for the actual number of days in the month occurring on and after the Rent Commencement Date. Tenant shall pay the Base Rent and all Additional Rent, by check or wire transfer of immediately available federal funds to Landlord’s account in accordance with the instructions attached hereto as Exhibit D, or to such other address or account or in such other manner as Landlord from time to time specifies by written notice to Tenant. Any payment made by Tenant to Landlord on account of Base Rent may be credited by Landlord to the payment of any late charges then due and payable and to any Base Rent or Additional Rent then past due before being credited to Base Rent currently due. Tenant shall not be liable for any Base Rent, Additional Rent, fees or other charges not collected by the rightful owner of the Building, following change in Building ownership, if Tenant is not informed in writing of such change (such notice to include suitable documentation evidencing the change in ownership). Tenant’s occupancy of the Premises (or if such first day is any portion thereof) prior to the Rent Commencement Date shall not a business day, cause the first business day of each month) during Base Rent or any Additional Rent to be payable prior to the Term (each such date being referred to herein as a “Due Rent Commencement Date”). Notwithstanding the foregoing, however, Tenant shall attorn to such transferee and execute, acknowledge and deliver any document submitted to Tenant confirming such attornment, provided such transferee assumes in writing the obligations of Landlord hereunder which accrue from and after the Date date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Base Rent shall be paid by wire or Automatic Clearing House (ACH) transfer to the account specified in the rent direction letter from Landlord to Tenanttransfer.

Appears in 1 contract

Samples: Deed of Lease (Xo Holdings Inc)

Payment of Base Rent. Commencing as of the Date of Rent Commencement, Tenant shall pay Base Rent to Landlord, or to Lender if directed by Landlord in writing, at the business address of Landlord or Lender, as the case may be, specified herein, or at such other address as Landlord or Lender, as the case may be, shall from time to time designate by written notice to Tenant. The Base Rent shall be due and payable in the amounts set forth on Schedule 1 hereto, which Schedule 1 is incorporated herein by this reference. Tenant shall commence paying Base Rent on the Date of Rent Commencement (which Date of Rent Commencement is not required to occur on the first (1st) day of a month), and to the extent that the Date of Rent Commencement does not fall on the first (1st) day of a calendar month, then Base Rent for the calendar month in which the Date of Rent Commencement occurs shall be prorated based on the number of days in the calendar month in which the Date of Rent Commencement occurs. Other than payment of Base Rent on the Date of Rent Commencement (to the extent that the Date of Rent Commencement does not occur on the first (1st) day of a calendar month), Base Rent shall be due and payable on the first (1st) day of each month (or if such first (1st) day is not a business day, the first (1st) business day of each month) during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Base Rent shall be paid by wire or Automatic Clearing House (ACH) transfer to the account specified in the rent direction letter from Landlord to Tenant.. Lease – Friendswood SNF 8

Appears in 1 contract

Samples: Lease (Summit Healthcare REIT, Inc)

Payment of Base Rent. Commencing as of the Date of Rent Commencement, Tenant shall pay Base Rent to Landlord, or to Lender if directed by Landlord in writing, at the business address of Landlord or Lender, as the case may be, specified herein, or at such other address as Landlord or Lender, as the case may be, shall from time to time designate by written notice to Tenant. The Base Rent shall be due and payable in the amounts set forth on Schedule 1 hereto, which Schedule 1 is incorporated herein by this reference. Tenant shall commence paying Base Rent on the Date of Rent Commencement (which Date of Rent Commencement is not required to occur on the first (1st) day of a month), and to the extent that the Date of Rent Commencement does not fall on the first (1st) day of a calendar month, then Base Rent for the calendar month in which the Date of Rent Commencement occurs shall be prorated based on the number of days in the calendar month in which the Date of Rent Commencement occurs. Other than payment of Base Rent on the Date of Rent Commencement (to the extent that the Date of Rent Commencement does not occur on the first (1st) day of a calendar month), Base Rent shall be due and payable on the first (1st) day of each month (or if such first (1st) day is not a business day, the first (1st) business day of each month) during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Base Rent shall be paid by wire or Automatic Clearing House (ACH) transfer to the account specified in the rent direction letter from Landlord to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Cornerstone Core Properties REIT, Inc.)

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Payment of Base Rent. Commencing as of The Advance Rent is the Date of Rent Commencement, Tenant shall pay Base Rent to Landlordfor the first full month following the Rent Commencement Date and is paid without notice, demand, abatement, offset, deduction or to Lender if directed by Landlord in writing, at the business address of Landlord or Lender, as the case may be, specified herein, or at such other address as Landlord or Lender, as the case may be, shall from time to time designate by written notice to Tenant. The Base Rent shall be due and payable in the amounts set forth on Schedule 1 hereto, which Schedule 1 is incorporated herein by this referenceclaim. Tenant shall commence paying agrees to pay Landlord the remaining Base Rent on the Date of Rent Commencement (which Date of Rent Commencement is not required to occur Rent, without prior notice or demand, abatement, offset, deduction or claim, commencing on the first day of a month), and to the extent that second calendar month following the Date of Rent Commencement does not fall Date and on or before the first day of each calendar month thereafter, in advance, at Landlord's Address stated in the Basic Lease Provisions. If the Rent Commencement Date is other than the first day of a calendar month, then Base Rent for the calendar month in which the Date of Rent Commencement occurs shall be prorated based on the number of days in the calendar month in which the Date of Rent Commencement occurs. Other than payment amount of Base Rent on the Date of Rent Commencement (to the extent that the Date of Rent Commencement does not occur due on the first day of a the second calendar month), month following the Rent Commencement Date shall be prorated. Landlord shall apply the Advance Rent against the Base Rent shall be due and payable on for the first day of each (1st) full calendar month following the Rent Commencement Date (or if such first day is not a business day, as defined in the first business day of each month) during the Term (each such date being referred to herein Work Letter Agreement attached hereto as a “Due Date”Exhibit B). Notwithstanding In the foregoing, from event Tenant disputes when the Substantial Completion Date of or the Rent Commencement Date occurs, until Tenant is notified otherwise by Landlord and Lender, Base Rent shall be paid by wire or Automatic Clearing House (ACH) transfer subject to the account specified in resolution of such dispute, Tenant shall pay the rent direction letter from Rent to Landlord as provided herein, but Tenant may do so under protest, reserving all rights with respect to such dispute, pending resolution thereof. If, when, and to the extent it is subsequently determined that the Rent Commencement Date actually occurred on a date later that that determined by Landlord, Landlord shall reimburse Tenant for any Rent paid for any period prior to the actual Rent Commencement Date as so determined. If Landlord fails to reimburse Tenant such amounts within ten (10) days of Tenant's written demand therefor, Tenant shall have the right to offset the amount owing against the Rent next payable by Tenant hereunder.

Appears in 1 contract

Samples: Lease Agreement (Cell Genesys Inc)

Payment of Base Rent. Commencing as of the Date of Rent Commencement, Tenant shall pay Base Rent to Landlord, or to Lender if directed by Landlord in writing, at the business address of Landlord or Lender, as the case may be, specified herein, or at such other address as Landlord or Lender, as the case may be, shall from time to time designate by written notice to Tenant. The Base Rent shall be due and payable in the amounts set forth on Schedule 1 hereto, which Schedule 1 is incorporated herein by this reference. Tenant shall commence paying Base Rent on the Date of Rent Commencement (which Date of Rent Commencement is not required to occur on the first day of a month), and to the extent that the Date of Rent Commencement does not fall on the first day of a calendar month, then Base Rent for the calendar month in which the Date of Rent Commencement occurs shall be prorated based on the number of days in the calendar month in which the Date of Rent Commencement occurs. Other than payment of Base Rent on the Date of Rent Commencement (to the extent that the Date of Rent Commencement does not occur on the first day of a calendar month), Base Rent shall be due and payable on the first day of each month (or if such first day is not a business day, the first business day of each month) during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Base Rent shall be paid by wire or Automatic Clearing House (ACH) transfer to the account specified in the rent direction letter from Landlord to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Cornerstone Core Properties REIT, Inc.)

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