Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year. (b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 3 contracts
Samples: Office Lease Agreement, Office Lease Agreement (Aptinyx Inc.), Office Lease Agreement (Aptinyx Inc.)
Payment of Rent. (a) Except as otherwise expressly provided in As used herein, “Rent” shall include Base Rent, Subtenant’s Share of Master Lease Additional Rent, Subtenant’s Share of Sublandlord Operating Expenses and all other additional rent, costs, charges and expenses to be paid by Subtenant to Sublandlord pursuant to this Lease, the Sublease. Rent herein reserved or payable shall be due and payable paid at Sublandlord’s election, (i) to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at LandlordSublandlord’s address as provided on for payment of Rent set forth in the signature page of this Lease Defined Terms, or (ii) to such other person or payee and/or at such other address place as Landlord Sublandlord may designate from time to time designate in writing, in lawful money of the United States of America, as and when the same become due and payable, without demand therefor and without any deduction, set-off or abatement whatsoever, except as expressly, provided otherwise in this Sublease or the Master Lease. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx Subtenant shall relieve Tenant from the obligation be required to pay Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses, and any additional rent payable hereunder, notwithstanding any dispute regarding such obligation, unless and until such dispute is finally resolved in favor of Subtenant (or Sublandlord, in any dispute relating to payments made by Sublandlord under the Base Rental on . Master Lease). In the event the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check Sublease Term shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month or the last day of the Sublease Term is not the last day of the calendar month, then the Base Rental for such partial month shall be prorated Rent and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of TenantSubtenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Master Lease Additional Rent and shall be applied to the payment of Base Rental and TenantSubtenant’s Share of Sublandlord Operating CostsExpenses and other costs and expenses shall be appropriately prorated based on the number of calendar days. Additionally, Subtenant shall pay to Sublandlord, as additional rent hereunder, within twenty (20) days after written request therefor, any other payments for which Sublandlord shall become responsible to Master Landlord or Sublandlord under the Master Lease or this Sublease, including, but not limited to, additional rent arising (i) by reason of Subtenant’s request for extraordinary services or utilities (such as replacement lighting) from Master Landlord or Sublandlord, or (ii) as a result of Subtenant’s Event of Default hereunder. By the later of 120 days following the end of each calendar year or 30 days following Sublandlord’s receipt of the year end true-up statement from Master Landlord, Sublandlord shall render Subtenant a statement in reasonable detail and according to usual accounting practices certified by a representative of Sublandlord, showing for the preceding calendar year or fraction thereof, as the case may be, by Landlord the Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses. Said statement to be rendered to Subtenant also shall show for the appropriate periods without preceding year or fraction thereof, as the case may be, the amounts already paid by Subtenant on account of Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses and the amount of remaining due from, or overpaid by, Subtenant for the year or other period covered by the statement. If such statement shows a balance remaining due to Sublandlord, Subtenant shall pay same to Sublandlord on or before the thirtieth (30th) day following receipt by Subtenant of said statement. Any balance shown as due to Subtenant shall be credited against Annual Base Rent next due, or refunded to Subtenant if the Sublease Term has then expired and Subtenant has no further obligation to Sublandlord. Subtenant shall have the right to examine, audit and photocopy Sublandlord’s books and records relating to Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses for any further calendar year for a period of three (3) months following the date that Subtenant receives the statement of actual Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses; provided, however, that (a) Subtenant may exercise such right only once per twelve (12) month period; and (b) Subtenant signs a confidentiality agreement in form reasonably satisfactory to Sublandlord. Subtenant shall give Sublandlord not less than thirty (30) days’ prior written notice of its intention to examine and audit such books and records, and such examination and audit shall take place at the main office of Sublandlord. All costs of the examination and audit shall be performed by Tenanta certified public accountant and shall be on a non-contingent fee basis and shall be borne by Subtenant; provided, however, that if such examination and audit establishes that Subtenant’s Proportionate Share of Operating Expenses and Taxes for the year in question are less than the amount set forth on the Sublandlord’s statement of Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses by at least five percent (5%), then Sublandlord shall pay the reasonable costs of such examination and audit. If the payments made by Subtenant for such year are more than Subtenant’s required payment on account thereof for such Operating Year, Sublandlord shall promptly refund such overpayment. If the payments made by Subtenant for such year are less than Subtenant’s required payment on account thereof for such Operating Year, Subtenant shall pay the deficiency to Sublandlord within thirty (30) days after conclusion of the examination and audit as well as Sublandlord’s actual out-of-pocket costs in connection with such examination and audit. The obligation to make such refund or payment for any period within the Lease Term commences or ends at shall survive expiration of the Sublease Term. If Subtenant does not elect to exercise its right to examine and audit Sublandlord’s books and records for any calendar year within the time other than the first day of a calendar yearperiod provided for by this Section, the TenantSubtenant shall have no further right to challenge Sublandlord’s statement as to Subtenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Master Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or TenantAdditional Rent and Subtenant’s Share of Sublandlord Operating Costs shall be due for the first five (5) months of the Lease TermExpenses and other costs and expenses.
Appears in 3 contracts
Samples: Real Estate License Agreement, Real Estate License Agreement (Editas Medicine, Inc.), Real Estate License Agreement (Editas Medicine, Inc.)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable Resident agrees to Landlord pay in advance in monthly installments on the first (1st) day of each calendar month during Monthly Rent for the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be Home in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described set forth in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than 1 on the first day of each and every month during the Term. The Monthly Rent is due, without deduction or demand, at the Property Manager’s office. Payment by personal check is a calendar yearprivilege accorded by the Owner at its sole discretion and the Owner specifically reserves the right to demand payment by certified check or money order for any and all sums, including Additional Rent, due under this Agreement. Further, the TenantResident agrees that any sums received by the Owner or Property Manager from Resident may be applied, at its sole discretion, in part or whole, to any obligation due under this Agreement, despite contrary or conflicting directions, verbal or written, appearing with or on the remittance proffered by the Resident. Resident shall make all Monthly Rent and Additional Rent payments in full. Any failures by Resident to pay all rent when due shall, at Owner’s Share election, cause all Annual Rent to be immediately due and payable. Payment or receipt of Operating Costs a rental payment of less than the amount stated in this Agreement shall be prorated deemed to be nothing more than partial payment on that month’s account. Under no circumstances shall Owner’s acceptance of a partial payment forfeit Owner's right to (i) collect the balance due on the account, (ii) send a notice of termination of tenancy and/or commence an eviction or other proceedings for such year according a non-payment of rent, despite any endorsement, stipulation, or other statement on any check. Resident agrees that Monthly Rent is subject to increase during the term of this Agreement for increases in utility rates and heating fuel charges. The Rent is based in part on utility rates and charges and heating fuel charges. In the event the costs of any of these items are increased over the amounts allocated for their payment or capital improvements are made to the number Development, upon thirty (30) days' advance written notice of days such increase by registered or certified mail, return receipt requested, the Monthly Rent Payment due thereafter will be proportionately increased through the remainder of the Lease Term in Term. Written documentation of the basis upon which such year.
increase is calculated shall be provided to Resident at the address listed at Section 1.a. If the increased Monthly Rent Payment is more than five percent (b5%) Notwithstanding anything herein above the then current Monthly Rent Payment, Resident may elect to terminate this Agreement and vacate the Home prior to the contrary, no Base Rental effective date of increase by providing the Owner written notice by registered or Tenant’s Share certified mail of Operating Costs shall be due for such election within fifteen (15) days after the first five (5) months receipt of the Lease Term.notice of increase. [ ]
Appears in 3 contracts
Samples: Resident Occupancy Agreement, Resident Occupancy Agreement, Resident Occupancy Agreement
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the The Annual Base Rent shall be due and payable to Landlord paid in equal consecutive monthly instalments in advance in monthly installments on the first (1st) day of each calendar and every month during the Lease Term. Subject to section 4.3, at Landlord’s address as provided the first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the signature page Commencement Date of this the Term. The Landlord shall remit to the Tenant, before each Lease or Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to such other person or at such other address as third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time designate during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in writing. Landlord may, at its option, xxxx such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for Rent, but no delay the unexpired period of such Lease Year or failure by Landlord in providing of such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form part only of a check unless otherwise agreed Lease Year, so that after the Tenant is credited with the appropriate amounts paid by Landlordthe Tenant in accordance with the previous estimate, provided that payment by check such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall not be deemed made if remit to the check is not duly honored with good funds. The Tenant a statement indicating the actual amount of the Additional Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on (other than the first (1stportion thereof which the Tenant has paid directly to third parties) day and of a calendar monththe Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month delivery of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearabove-mentioned statement.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 3 contracts
Samples: Industrial Lease (Bway Corp), Industrial Lease (Bway Corp), Industrial Lease (Bway Corp)
Payment of Rent. (a) Except as otherwise expressly provided Tenant shall pay, without prior notice or demand, in this Lease, accordance with Section 4.1 of the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person Summary or at such other address place as Landlord may from time to time designate in writing. Landlord may, by a check for currency which, at its optionthe time of payment, xxxx Tenant is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent”) as set forth in Section 4 of the Summary, but no delay payable in equal monthly installments as set forth in Section 4 of the Summary, in advance, on or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on before the first (1st) day of each and every calendar month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If during the Lease Term commences on other than the first (1st) day of a calendar monthTerm, then the without any setoff or deduction whatsoever. Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental Rent for the first full month of the Lease Term for which a payment of rent is due (i.e., shall be paid at the sixth [6th] full month of the Lease Term) plus an estimated monthly amount time of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy execution of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by TenantLease. If any Rent payment date (including the Lease Term commences or ends at any time Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a calendar yearperiod which is shorter than one month, the Tenant’s Share of Operating Costs Rent for any fractional month shall be prorated accrue on a daily basis for the period from the date such year according payment is due to the number end of days such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant assumes the risk of the foregoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in such year.
(b) Notwithstanding anything the nature of constructive eviction to any action seeking to recover rent. Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary. Notwithstanding anything to the contrary in this Lease, no Base Rental or Tenant’s Share of Operating Costs Tenant may at its election pay any Rent (as defined below) to Landlord by electronic transfer (including ACH), and Tenant shall be due for use the first five (5) months ACH information set forth in Section 4 of the Lease TermSummary in order to effect such payments of Rent using electronic transfer of funds through its bank.
Appears in 2 contracts
Samples: Lease (Aethlon Medical Inc), Lease (Aethlon Medical Inc)
Payment of Rent. Base Monthly Rent and Adjustments shall be due and payable, in advance, beginning on the Rent Commencement Date; provided that one (a1) Except as otherwise expressly provided full installment of Base Monthly Rent and Adjustments totaling $24,825.33 is due and payable on the date of this Lease, such to be applied to the first installment of Base Monthly Rent and Adjustments due on the Rent Commencement Date and thereafter applied to Base Monthly Rent and Adjustments until fully applied. Any installment of Base Monthly Rent or Adjustments due for any fractional calendar month shall be prorated based upon the actual number of days in that month. If the Rent Commencement Date occurs on the first day of a calendar month, then the month in which the Rent Commencement Date occurs shall be the first complete calendar month after the occurrence of the Rent Commencement Date for purposes of determining the date upon which Base Monthly Rent adjusts. As used in this Lease, RENT shall mean the Base Monthly Rent and all other amounts provided for in this Lease to be paid by Tenant to Landlord, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises. All Rent (hereinafter defined) shall be due paid at the times and payable in the amounts provided for herein in legal tender of the United States of America to Landlord at the address specified in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease Paragraph 32 hereof or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise offset (unless expressly provided for elsewhere in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied a covenant of Tenant independent of any obligation of Landlord under this Lease. Tenant's obligation to the payment pay any installment of Base Rental and Tenant’s Share Rent shall not be deemed satisfied until such installment of Operating Costs, as the case may be, Rent has actually been received by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearLandlord.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term."
Appears in 2 contracts
Samples: Sublease (Mannatech Inc), Commercial Lease Agreement (Mannatech Inc)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Tenant shall pay all Rent shall be due and payable to Landlord in advance in monthly installments on the first (1stday(s) day of each calendar month during the Lease Termspecified therefor, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except in lawful money of the United States of America, to the Address for Payment of Rent or at such other place as otherwise expressly provided Landlord may from time-to-time designate in this Leasewriting to Tenant. If Landlord so notifies Tenant in writing (and Tenant is able to reasonably comply), Rent payments shall be made by electronic money transfers in accordance with Landlord’s written directive therefor. Tenant shall be obligated to pay Rent when due regardless of whether Tenant receives a statement therefor. If Fixed Minimum Rent or any item of Additional Rent increases or decreases during the Lease Term commences on other than and if the first (1st) day amount of a calendar monthsuch increase or decrease has not been determined as of the date such Rent is to be paid, then (a) Tenant shall continue to pay such Rent in the Base Rental amount payable for the immediately preceding month (or other period for which such partial month Rent is due) and (b) within thirty (30) days after the date Landlord notifies Tenant of such adjusted Rent, Tenant shall pay to Landlord any additional amount owed due to such adjusted Rent or if Tenant has paid Rent in excess of the adjusted Rent, such excess shall be prorated credited against the next monthly payment(s) of Rent until such excess has been exhausted; however, within thirty (30) days following the Refund Date, any such excess shall be refunded to Tenant. Landlord and paid at Tenant may each use the rental rate applicable during other’s Rent Inquiry Address to communicate to the first full month other party any inquiries relating to the calculation of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to various components constituting Rent or the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearRent.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 2 contracts
Samples: Lease Agreement (Tradeshow Marketing Co. Ltd.), Lease Agreement (Tradeshow Marketing Co. Ltd.)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent All rent shall be due and payable to Landlord by Lessee in advance lawful money of the United States of America at the address of Lessor set forth in monthly installments Paragraph 24, without deduction or offset and without prior demand or notice, unless otherwise specified herein. Monthly Base Rent shall be payable monthly, in advance, on the first (1st) day of each calendar month during the Lease Termmonth, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx except that Lessee shall relieve Tenant from the obligation to pay the Monthly Base Rental on Rent due for the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a third full calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy upon execution of this Lease and Lessor shall be applied apply such payment to such month. Lessee’s obligation to pay rent for any partial month at the payment expiration or termination of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to on the basis of the actual number of days of the Lease Term in such yearcalendar month.
(b) Notwithstanding anything herein to the contrary, no If any installment of Monthly Base Rental Rent or Tenant’s Share of Operating Costs shall be due for the first Additional Rent is not received by Lessor within five (5) months days after the same is due, Lessee shall pay to Lessor an additional sum equal to five percent (5%) of the Lease Term.amount overdue as a late charge; provided, however, that Lessor agrees to waive such late charge for the first time in any twelve (12) month period that Lessee fails to pay any Monthly Base Rent or Additional Rent within such 5-day period so long as Lessee pays the amount due within five (5) days after written notice from Lessor such Monthly Base Rent or Additional Rent is past due. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of the late payment by Lessee. Acceptance of any late charge shall not constitute a waiver of Lessee’s default with respect to the overdue amount. Any amount not paid within thirty (30) days after the date such amount is due shall bear interest from the date due until paid at the lesser rate of (1) the prime rate of interest plus five percent (5%) or (2) the maximum rate allowed by law, in addition to the late payment charge (the “Interest Rate”). Initials: Lessor /s/ HB Lessee /s/ RV
Appears in 2 contracts
Samples: Lease (SITIME Corp), Lease (SITIME Corp)
Payment of Rent. (a) Except as otherwise expressly provided As used in this Lease, "Rent" shall mean the Base Rent, the Operating Expense reimbursements pursuant to Section 5.01, the Parking Rent pursuant to Section 17.12 hereof, and all other monetary obligations provided for in this Lease to be paid by Tenant, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises. The Rent shall be due paid at the times and payable in the amounts provided for herein in legal tender of the United States of America to Landlord in advance in monthly installments on at the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease specified above or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction deduction, or offset, offset except as otherwise may be expressly provided set forth in this Lease. If Landlord shall, at its option, have the Lease Term commences right to collect from Tenant, ten cents ($.10) for each dollar ($1.00) of each installment of Rent which is not received within five (5) days after its due date for any reason whatsoever (notwithstanding any notice requirement hereunder, if any) and Xxxxxx agrees to pay such amount immediately on other than demand as liquidated damages to cover the first (1st) day additional costs of a calendar month, then collecting and processing such late payments. Tenant acknowledges that the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a late payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of this Lease which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and shall be applied to accounting charges, and such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by TenantXxxxxx. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according failure to the number of days of the Lease Term in pay Rent continues beyond such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months day period, any and all due and unpaid Rent shall bear interest at the lesser of the Lease Term.(i) eighteen percent (18%) per annum, or
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Payment of Rent. Tenant shall pay all Base Rent and Additional Rent (adefined below) Except as otherwise expressly provided (collectively, “Rent”) to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction, at the place Landlord may designate from time to time. As used herein, “Additional Rent” means all amounts, other than Base Rent, that Tenant is required to pay Landlord hereunder. Monthly payments of Base Rent and monthly payments of “Direct Expenses” (defined in this LeaseSection 4.1) (collectively, the Rent “Monthly Rent”) shall be due and payable to Landlord paid in advance in monthly installments on or before the first (1st) day of each calendar month during the Lease Term; provided, at Landlord’s address as provided on however, that the signature page installment of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant Base Rent for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day full calendar month for which Base Rent is payable hereunder and the installment of each Direct Expenses for the first full calendar month for which such Additional Rent is payable hereunder shall be paid upon Tenant’s execution and delivery hereof. Except as otherwise provided herein. All payments shall be in the form , all other items of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Additional Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Leasewithin 30 days after Landlord’s request for payment. If the Lease Term commences on other than the first (1st) day of a Rent for any partial calendar month, then the Base Rental for such partial month shall be prorated and paid at based on the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the actual number of days of the Lease Term in such year.
month. Without limiting Landlord’s other rights or remedies, (ba) Notwithstanding anything herein to the contrary, no Base Rental if any installment of Rent is not received by Landlord or Tenant’s Share of Operating Costs shall be due for the first its designee within five (5) months business days after its due date, Tenant shall pay Landlord a late charge equal to 5% of the Lease Termoverdue amount (provided, however, that such late charge shall not apply to the first such late installment of Rent in any calendar year unless such installment is not received within five (5) business days after notice from Landlord); and (b) any Rent that is not paid within 10 days after its due date shall bear interest, from its due date until paid, at the lesser of 12% per annum or the highest rate permitted by Law (defined in Section 5). Tenant’s covenant to pay Rent is independent of every other covenant herein.
Appears in 2 contracts
Samples: Office Lease (Ubiquiti Networks, Inc.), Office Lease (Ubiquiti Networks, Inc.)
Payment of Rent. (a) Except Lessee covenants and agrees with Lessor to pay as otherwise expressly provided rent during the term hereof and so long thereafter as Lessee or anyone claiming under Lessee occupies the Premises;
1.1 A fixed rental at the annual rate of $ 250,000.00 during the term hereof, said rental to be payable in this Lease, the Rent shall be due and payable to Landlord equal installments of $20,833.00 in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in of the form term, and at that rate for any fraction of a check unless otherwise agreed by Landlordmonth beginning of any term, provided that payment by check shall not be deemed made if any fraction payable with respect to a portion of a month at the check is not duly honored with good funds. The Rent shall beginning of the term to be paid without noticeon the Commencement Date. Rental installments not received by the fifth day of the respective month(s) are subject to the highest interest rate allowed by law.
1.2 Lessee shall pay all utility charges directly to the entity charged with the collection thereof. Lessee shall pay its proportionate share of taxes, demandbetterment assessments, abatement, deduction or offset, except insurance costs and maintenance costs with respect to the Demised Premises as otherwise expressly provided in this LeaseSection 1.2 as follows:
1.2.1 Lessee shall pay, as additional rent to Lessor, Lessee's proportionate share of taxes levied or assessed or becoming payable for or in respect to the Lot on which the Building of which the Premises are a part is located, and the Building and other improvements located on the Lot, for each tax period included in the term at the beginning and end thereof, Lessee's proportionate share of the fraction of such taxes which is allocable to such included period. If at any time during the Lease Term commences term, under the Laws of the United States or any State or political subdivision thereof in which the Premises are situated, there shall be adopted some other method of taxation on real estate as a substitute in whole or in part for taxes on real estate as now constituted, such as tax on the fixed rent, additional rent or the other than charges payable by Lessee hereunder by whatever name called, which is levied, assessed or imposed against Lessor or the first rent or other charges payable hereunder to Lessor, (1st) day which substitute tax on the fixed rent, additional rent, or other charges or other substitute method of a calendar monthtaxation are hereinafter collectively referred to as "Substitute Taxes"), Lessee, to the extent that such Substitute Taxes are means of raising revenue from or with respect to the Premises, shall pay Substitute Taxes as soon as the same shall become due and payable. In the event that any such Substitute Taxes shall be based upon the income of Lessor, then Lessee's obligation with respect to the Base Rental for such partial month aforesaid Substitute Taxes shall be prorated and paid limited to the amount thereof as computed at the rental rate applicable during rates that would be payable if the first full month same were the sole taxable net Income of Lessor but without deduction or provision for any deductions, exemptions or credits to which Lessor may be entitled in computing the tax, Lessor would so bear on account of the Lease Term for which a payment of fixed rent, additional rent is due. The Base Rental or other charges then due or thereafter becoming due from Lessee for the first full month taxable period under the terms of this Lease, all as if Lessor were not entitled to any such deductions, exemptions or credits. Provided, however, that the taxation of Lessor's income by the United States and the Commonwealth of Massachusetts, presently referred to as the "Federal Income Tax" and "State Income Tax" or similar methods of taxation are not intended to be herewith applicable and are specifically excluded.
1.2.2 Lessee shall pay to Lessor Lessee's proportionate share of each installment of any public, special or betterment assessment levied or assessed or becoming payable for or in respect of the Lease Term Lot or Building, or both for which a payment each installment period wholly included in the term, and for any fraction of rent is due (i.e.an installment period included in the term at the beginning or end thereof, the sixth [6th] full month Lessee's proportionate share of the Lease Term) plus an estimated monthly amount fraction of Tenant’s Share such installment allocable to such included period; provided only in the case of Operating Costs described each respective assessment that Lessor shall have elected to pay such assessment in installments over the longest period permitted by law and not otherwise.
1.2.2.1. If Lessee deems itself aggrieved by any tax or assessment as to which Lessee is required to pay LESSEE'S proportionate share under Section 6(a) herein1.2.1 or 1.2.2 hereof, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to Lessee may at Lessee's expense, without delaying the payment of Base Rental such proportionate share, seek an abatement thereof, and Tenant’s Share of Operating Costs, as Lessor shall cooperate with Lessee to the case may be, by Landlord for the appropriate periods without any further notice by Tenantextent reasonably necessary to enable Lessee to do so. If such abatement is granted, Lessee's proportionate share of such taxes and assessments shall be adjusted accordingly. All taxes levied on the Lease Term commences personal property of Lessee, including but not limited to pallets or ends at skids, fork lift trucks or other hoisting equipment, etc., shall be the obligation and be paid by Lessee whether the same is assessed to Lessee or Lessor and whether the same shall be considered part of the realty or personalty and further that Lessee agrees to indemnify and hold harmless the Lessor from any time other than loss, damage, debt or claim resulting therefrom.
1.2.3 Lessee shall as additional rent, on the first day of each month of the term, make tax fund payments to Lessor. "Tax Fund payments" refer to such payments, as Lessor shall reasonably determine to be sufficient to provide in the aggregate a calendar yearfund adequate to pay Lessee's proportionate share of all tax and assessments referred to in subsection 1.2 when they become due and payable. Lessor shall on or before the last day on which the same may be paid without interest or penalty, the Tenant’s Share of Operating Costs shall be prorated for such year according pay to the number proper authority charge with the collection thereof all taxes and assessments referred to in said subsection 1.2.1 and 1.2.2, provided that Lessee shall have made the aforesaid tax fund payments. If the aggregate of said tax refund payments is not adequate to pay Lessee's proportionate share of all said taxes and assessments, Lessee shall pay to Lessor the amount by which such aggregate is less than the amount equal to lessee's proportionate share of all said taxes and assessments, such payment to be made on or before the later of (a) 10 days after receipt by Lessee of the Lease Term in written notice from Lessor of such year.
amount, or (b) Notwithstanding anything herein the 30th day prior to the contrary, no Base Rental last day on which such taxes and assessments may be paid without interest or Tenant’s Share of Operating Costs penalty. Any balance remaining after such payment by Lessor shall be due accounted for the first five (5) months to Lessee annually. The amount of the Lease Termmonthly tax payments shall equal 1/12 of lessee's proportionate share of the prior year's tax plus, 10% of said 1/2 of prior year's payment.
Appears in 2 contracts
Samples: Commercial Lease Agreement (Geerlings & Wade Inc), Commercial Lease Agreement (Geerlings & Wade Inc)
Payment of Rent. (a) Except as otherwise expressly provided All Rent, required to be paid in this Leasemonthly installments, the Rent shall be due and payable to Landlord paid in advance in monthly installments on the first twentieth (1st20th) day of each calendar month during the Lease Term. All Rent shall be paid in lawful money of the United States, without any abatement, deduction or offset whatsoever (except as specifically provided herein), and without any prior demand therefore. All Rent shall be paid to the Master Trustee for deposit in the Gross Revenue Fund (as that term is defined in the Loan Documents), and at Landlord’s such address as provided on the signature page of this Lease or to such other person Master Trustee notifies Tenant, or at such other address place as Landlord may designate from time to time designate in writingtime, with the approval of the Master Trustee as long as Landlord has any obligations pursuant to the terms of the Loan Documents. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the Tenant’s obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month commencement and expiration of the Lease Term for which over any partial month. In the event that Tenant receives a notice (each an “Additional Payment Notice”) from either Landlord or the Master Trustee that the Master Trustee has not received the required Base Rent component of Rent with respect to a Related Project on or before that date that such required payment of rent is due. The Base Rental for , then Tenant shall pay to the first full month Master Trustee, within three (3) business days after Tenant's receipt of the Lease Term for which a payment of rent is due (i.e.Additional Payment Notice, the sixth [6th] full month Additional Monthly Payment. Landlord covenants to immediately provide Tenant with a copy of any Additional Payment Notice received by Landlord pursuant to the terms of the Lease Term) plus an estimated monthly Master Indenture. As used herein, the “Additional Monthly Payment” shall mean the amount of set forth in such Additional Payment Notice, which shall be the Tenant’s 's Proportionate Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery Additional Monthly Payment. As used herein “Proportionate Share” shall mean the amount required to be paid by Tenant to ensure that all of the required Base Rent component of Rent with respect to all of the Related Projects (as that term is defined in the Master Indenture) have been timely made. Promptly after the Master Trustee refunds to Landlord of an executed copy of the Additional Monthly Payment amount paid by Tenant pursuant to this Lease and shall be applied Section 3.3 or otherwise releases or make such funds available to Landlord pursuant to the payment terms of Base Rental and Tenant’s Share of Operating Coststhe Loan Documents, as the case may be, by Landlord for the appropriate periods without any further notice by shall refund such amount to Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar yearFor clarity, the Tenant’s Share of Operating Costs shall be prorated for such year according aforementioned refund mechanism applies with respect to the number refund of days of payments made by Tenant with respect to a Related Project after the Lease Term tenant with respect to such Related Project has paid rent and the Master Trustee has sufficient funds available in such yearthe Gross Revenue Fund account.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 2 contracts
Samples: Lease Agreement, Sublease Agreement
Payment of Rent. Annual Base Rent shall be paid:
(a) Except as otherwise expressly provided in this Leaseequal monthly installments, the Rent shall be due and payable to Landlord in advance in monthly installments advance, on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in of the form of a check unless otherwise agreed by Landlord, Term; provided that payment by check shall not be deemed made if the check is Term does not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction begin or offset, except as otherwise expressly provided in this Lease. If end on the Lease Term commences on other than the first (1st) last day of a calendar month, then the Annual Base Rental Rent for such that partial month shall be prorated and paid at by multiplying the rental rate applicable during the first full month of the Lease Term for which monthly rent by a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e.fraction, the sixth [6th] full month numerator of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, which is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease partial month included in the Term and the denominator of which is the total number of days in such year.the full calendar month; and,
(b) Notwithstanding anything herein to Landlord, at the address set forth in Section 23.2 hereof, or as Landlord otherwise may specify in writing to Tenant; provided, however, that Landlord shall have the right, by written instruction to Tenant, to require Tenant to pay any Fee Mortgage Obligations then due and payable (up to the contraryamount of the Annual Base Rent then due and payable) directly to the Fee Mortgagee, no Base Rental or Tenant’s Share and if Landlord exercises such right, the amount of Operating Costs the Fee Mortgage Debt Service (but not the Fee Mortgage Reserve Requirements) paid by Tenant directly to the Fee Mortgagee shall be due for credited against and applied toward Tenant's Annual Base Rent obligations hereunder. Tenant shall provide Landlord with a copy of each payment of any Fee Mortgage Obligation made by Tenant directly to the first five (5Fee Mortgagee concurrent with Tenant's making of such payment to the Fee Mortgagee. Landlord may rescind the rights granted Tenant under this Section 5.2(b) months of the Lease Termat any time on 30 days written notice.
Appears in 2 contracts
Samples: Lease Agreement (Harborside Healthcare Corp), Lease Agreement (Harborside Healthcare Corp)
Payment of Rent. (a) Except Tenant shall pay the Yearly Fixed Rent as otherwise expressly provided set forth in this Leasethe Reference Data Pages by Monthly Payments in advance, without setoff, offset or deduction, commencing on the Rent shall be due Commencement Date, and payable to Landlord in advance in monthly installments thereafter continuing on the first (1st) day of each calendar month during thereafter, and shall pay Additional Rent in the Lease Term, manner set forth herein. All rent and other payments shall be made to Landlord at Landlord’s address as provided on the signature page of this Lease or to such other person Initial Address for Payment or at such other address location and to such person as Landlord may shall designate from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Rent Commencement Date and/or Term commences Commencement Date occurs on other than the first (1st) a day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar yearmonth, the Tenant’s Share of Operating Costs first Monthly Payment and Additional Rent, as applicable, shall be prorated appropriately pro-rated for such year according that month and added as Rent for the First Lease Year. If Tenant shall fail to pay any installment of Yearly Fixed Rent or Additional Rent within ten (10) days after the date due, Landlord shall be entitled to collect a charge equal to five (5%) percent of the amount due to cover Landlord’s administrative expense in handling late payments; provided, that with respect to the number of days of the Lease Term first such late payment in such year.
(b) Notwithstanding anything herein to the contraryany consecutive 12-month period, no Base Rental or Tenant’s Share of Operating Costs late payment shall be due if Tenant makes payment within one (1) business day after notice (which may be by telephone or e-mail) from Landlord. In addition, Tenant shall pay interest at the rate of one (1%) percent (the “Default Rate”) for each month or any fraction thereof on any Rent not paid within ten (10) days after the first five (5) months date due. The sending of the invoices to Tenant on one or more occasions shall not require Landlord to continue that practice for Yearly Fixed Rent or on account of regular monthly installments of Additional Rent. The term “Rent” as used in this Lease Termshall include Yearly Fixed Rent, Additional Rent and all other sums and charges payable by Tenant hereunder.
Appears in 2 contracts
Payment of Rent. The following provisions shall govern the payment of --------------- Rent:
(ai) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of if this Lease commences or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such ends on a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first last day of a calendar year, respectively, the Tenant’s Share of Operating Costs Rent for the year in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid to Landlord without offset or deduction (unless otherwise expressly permitted under this Lease), and the covenant to pay Rent shall be independent of every other covenant in this Lease; (iii) if during all or any portion of any year at least 95% of the rentable area of the Building is not rented and occupied, Landlord shall make an appropriate adjustment of Expenses and/or Taxes for such year according to determine the Expenses and/or Taxes that would have been paid or incurred by Landlord had the rentable area of the Building been 100% rented and occupied for the entire year and the amount so determined shall be deemed to have been the Expenses and/or Taxes for such year; (iv) any sum due from Tenant to Landlord which is not paid within five business days after the date due shall bear interest from the date due until the date paid at the annual rate equal to the "Prime" or "Base" rate then most recently announced by Bank One (Chicago) plus 4% (subject to change as such rate changes), but in no event higher than the maximum rate permitted by law (the "Default Rate"); and, in addition, if the payment of Rent is delinquent two times during a 12-month period, Tenant shall pay Landlord a late charge for any Rent payment which is paid more than five business days after its due date equal to 3% of such payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant's Proportionate Share (provided all rentable areas shall be determined in accordance with the measurement standards noted in Section 2A(v)); (vi) Tenant (or its designated agent) shall have the right, upon reasonable prior written notice to Landlord, to inspect Landlord's books and records relative to Expenses and Taxes during normal business hours at any time within 120 days following the furnishing to Tenant of the Lease Term annual statement of Adjustment Rent; and, unless Tenant shall xxxx written exception to any item in any such statement within such 120-day period, such statement shall be considered as final and accepted by Tenant (except as provided below in this clause (vi) with respect to retroactive adjustments). Tenant must timely pay all Adjustment Rent billed by Landlord pending the outcome of its inspection or any audit of Landlord's books and records. If Tenant makes such timely written exception, an audit as to the proper amount of Adjustment Rent for such period shall be performed by a reputable certified public accounting firm selected by Tenant, but subject to Landlord's reasonable approval. After the auditor has reached a preliminary determination, each party shall have 30 days to review the auditor's preliminary findings and comment thereon (and, if applicable, advocate a change in such determination). Thereafter the auditor shall notify the parties of its final determination, which determination shall be final and conclusive. If the results of such audit reveal that Tenant has overpaid or underpaid Adjustment Rent for the applicable year.
(b) Notwithstanding anything herein , Landlord shall pay to Tenant such overpayment or Tenant shall pay to Landlord such underpayment, as applicable, within 30 days after the results of such audit are reported to the contraryparties. If the results of an audit for a particular year reveal that retroactive adjustments of Taxes may be appropriate for a prior year (i.e., if Landlord receives a refund for Taxes paid by Tenant in a prior year), then the auditor may examine the particular component of Taxes for the prior year to determine the appropriate adjustment. Tenant agrees to pay the entire cost of such audit unless it is determined that Landlord's original determination of the Adjustment Rent for the year in issue was in error by more than 3%, in which case Landlord agrees to pay the cost of such audit; (vii) in the event of the termination of this Lease prior to the determination of any Adjustment Rent, Tenant's agreement to pay any such sums and Landlord's obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination of this Lease; (viii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Base Rental Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the Building (provided Landlord shall not do so more than twice during the Term or Tenant’s Share with the intention of Operating Costs increasing amounts payable by the tenants of the Building); (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; and (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent at the rate for the first five (5) previous calendar year until Landlord delivers such estimate, at which time Tenant shall pay retroactively the increased amount for all previous months of the Lease Termsuch calendar year.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, The Tenant shall deliver to the Rent Landlord on or before the Commencement Date an executed authorization and a voided cheque to enable the Landlord to draw or issue a debit to the Tenant’s designated bank account at the designated branch of the Tenant’s bank or financial institution. Each monthly debit shall be due and payable to Landlord in advance in monthly installments made on the first (1st) day of each calendar the month during in an amount equal to the Lease Termmonthly Base Rent and Occupancy Costs payment and any ancillary agreement such as, at Landlord’s address without limitation, parking or storage agreements, as provided on the signature page of this Lease or to such other person or at such other address as Landlord it may be adjusted from time to time designate in writingaccordance with the terms of this Lease, The Tenant shall not terminate the authorization for the Landlord to draw or issue a debit to the Tenant’s bank account. Should the Tenant change banks or financial institutions or branches within the same bank or financial institution during the Term of this Lease, then the Tenant shall deliver a new executed authorization and voided cheque to enable the Landlord may, at its option, xxxx to draw or issue a debit to the new account of the Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve payment of monthly Base Rent and Occupancy Costs payment. The Tenant from the obligation further covenants and agrees to pay promptly, when billed, any amounts due under the Base Rental on terms of this Lease that are not specifically covered by the first (1st) day of each month as provided hereinforegoing monthly debits. All payments shall be in In the form of a check unless otherwise agreed event that any debit issued by Landlord, provided that payment the Landlord and any cheque issued by check the Tenant shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs bank or financial institution for any reason, then, in addition to any other remedies the Landlord may have, the Tenant shall be prorated for such year according pay to the number Landlord, upon request, One Hundred Dollars ($100.00) for each occurrence which amount represents the estimated costs of days of processing the Lease Term in such year.
(b) Notwithstanding anything herein to dishonored debit or cheque and re-debiting the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Termaccount or processing a replacement cheque.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this Leasesubparagraph (b) below, the Base Rent and Additional Rent shall be due and payable to Landlord by Tenant in advance in equal monthly installments installments, together with all applicable sales taxes, on the first (1st) day of each calendar month during the Lease Termmonth, in advance, at Landlord’s address as provided on the signature page of this Lease or to such other person set forth in Section 1.01(a) or at such other address as place designated by Landlord may from time to time designate in writing. Landlord maytime, at its optionwithout any prior demand and without any deduction, xxxx Tenant for Rent, but no delay holdback or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided hereinsetoff. All Rent payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored set up with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according Bank to allow Landlord to use Automated Clearing House (ACH) to transfer the number of days of funds on the Lease Term in such yearapplicable Rent payment date.
(b) Notwithstanding anything herein The Tenant shall make payments of Rent in addition to or in lieu of monthly installments of Rent as follows: Payment Date Amount* Note On or before December 15, 2009 100% of Lease Year 1 Base Rent $373,520.00 plus 100% of Lease Year 1 estimated Premises Operating Expenses (to be determined under Lease) This payment satisfies Tenant’s obligation for monthly Rent payments during Lease Year 1** * Plus in all events applicable sales taxes. ** If the Expansion is completed during Lease Year 1 monthly Rent payments shall commence as to the contraryExpansion.
(c) If the Expansion is constructed, no Base Rental the Tenant shall receive a credit for future Rents to be paid after the completion of the Expansion, equal to the Expansion Cost Contribution or a reduced portion thereof as provided herein. · If the Tenant provides the Notice of Expansion on or before July 31, 2009, or the Expansion reaches Completion on or before March 31, 2010, the total credit shall be equal to the total Tenant’s Share of Operating Costs Expansion Cost Contribution. The credit shall be due for applied based upon the first five (5) total number of whole months of the Lease Termterm remaining after the Expansion Completion divided into the Expansion Cost Contribution to determine the “Monthly Credit Amount”. · If the Tenant provides the Notice of Expansion after July 31, 2009, and the Expansion reaches Completion after March 31, 2010, the total credit shall be equal to the Tenant’s Expansion Cost Contribution reduced by that sum multiplied by: (i) the number of full months elapsed from January 1, 2010 through the Completion; and (ii) 0.056% (collectively “Reduced Credit”). The Monthly Credit Amount shall then be calculated by dividing the Reduced Credit by the number of full months remaining under the term of the Lease after the Completion Date. · The applicable Monthly Credit Amount shall commence application against Rent payments on the first day of the first new month after the Expansion Completion.
Appears in 1 contract
Samples: Lease (Teltronics Inc)
Payment of Rent. (a) Except Tenant shall pay to Landlord, without notice or demand, and without any set-off, counterclaim, abatement or deduction whatsoever, except as otherwise expressly provided set forth in this Lease, in lawful money of the United States by wire transfer of funds to Landlord's account, as designated by Landlord, or by check drawn upon a bank reasonably approved by Landlord, (i) Fixed Rent shall be due and payable to Landlord in advance equal monthly installments, in monthly installments advance, on the first (1st1/st/) day of each calendar month during the Lease Term, at Landlord’s address as provided commencing on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord mayinitial Rent Commencement Date, and (ii) Additional Rent, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be times and in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided manner set forth in this Lease.
(b) Provided no uncured Material Default shall then exist under this Lease, Tenant shall have the right to require Landlord to advance to Tenant up to a maximum aggregate amount of $10.00 multiplied by the Agreed Area of the Premises (the "Supplemental Allowance"). If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month Such sum shall be prorated elected and paid at used by Tenant in its sole discretion in accordance with Paragraph C.2 of the rental rate applicable during Design and Construction Agreement attached as Exhibit C. The amount of the Supplemental Allowance Tenant --------- elects to draw shall be treated as an assumed loan, which shall be fully amortized over the Initial Term in one hundred thirty-two (132) equal monthly payments. Tenant shall pay to Landlord, as an addition to Fixed Rent (including without limitation for purposes of determining damages, if any under Section 19.2) but not escalated with Fixed Rent, beginning with the first full month of the first Lease Term for which Year (if such amount can be calculated by such date) the monthly amortized amount of the Supplemental Allowance together with interest on the outstanding balance of the Supplemental Allowance at a payment of rent is duefixed annual rate equal to twelve percent (12%) per annum. The Base Rental for If the first full calendar month of the first Lease Term Year has already occurred, or any other months have already occurred, as of the date such amount is calculated, Tenant shall pay all monthly amortization payments which correspond to months that have already elapsed at the time of its first monthly payment. In the event this Lease shall terminate for which a payment any reason prior to the natural expiration of rent is due (i.e.the Term, the sixth [6th] full month entire then unamortized portion of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs Supplemental Allowance shall be due for and payable to Landlord as a part of Rent. Attached as Exhibit U is a sample, non-binding schedule of payments that --------- would be required assuming Tenant draws the first five (5) months maximum aggregate amount of the Supplemental Allowance in one lump sum on the date specified in Exhibit U. The --------- parties agree that this Lease will be amended within thirty (30) days after the date on which the Supplemental Allowance is fully drawn but only to reflect the actual schedule of repayments by amending said Exhibit U. In the event Tenant --------- exercises Extension Options that contemplate a continuation of the existing terms and conditions, such amortization will be eliminated from Rent payments (but the failure to repay the Supplemental Allowance in full as of the end of the Initial Term will be a default hereunder, subject to applicable notice and cure rights). Tenant may, from time to time throughout the Initial Lease Term, prepay in full and without penalty, the unamortized principal balance of amounts amortized into Fixed Rent as aforesaid, provided (i) Tenant shall give Landlord thirty (30) days prior notice of such prepayment, (ii) Tenant shall include with any such prepayment the amount of accrued but unpaid interest, and (iii) the parties will promptly enter into an amendment to this Lease adjusting the Fixed Rent as may be necessary to reflect the effect of any such prepayment. Upon receipt of the entire unamortized amount of the Supplemental Allowance, Landlord shall confirm the payoff of the Supplemental Allowance in writing to Tenant.
Appears in 1 contract
Samples: Deed of Lease (Verisign Inc/Ca)
Payment of Rent. (a) Except as otherwise expressly provided As used in this Lease, “Rent” shall mean the Base Rent, the Operating Expense reimbursements pursuant to Section 5.01, Tenant’s Electricity Charge pursuant to Section 5.02B, and all other monetary obligations provided for in this Lease to be paid by Tenant, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises. Tenant shall send Base Rent and other sums due hereunder in legal tender of the United States of America to Landlord. Base Rent shall be due and payable sent by wire transfer pursuant to Landlord the instructions set forth in advance in monthly installments on the first (1stSection 1.01(o) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address or pursuant to such different wiring instructions as Landlord may from time to time designate at least ten (10) days in advance in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Rent other than Base Rental on the first (1st) day of each month as provided herein. All payments Rent shall be paid in the form a manner mutually agreeable to Landlord and Tenant. Landlord and Tenant may from time to time mutually agree to an alternative manner of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good fundsof any portion of Rent. The Rent shall be paid without notice, demand, abatement, deduction deduction, or offset, offset except as otherwise may be expressly provided set forth in this Lease. If the Lease Term commences on other than the first (1st) day Upon execution of a calendar monththis Lease, then the Base Rental for such partial month Tenant shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant pay to Landlord of an executed copy of this Lease and amount equal to $172,500, which shall be applied to the payment first month’s Base Rent due hereunder on the first Rental Commencement Date. Tenant shall pay to Landlord a late charge equal to five percent (5%) of Base Rental the amount of Rent due for all Rent which is not paid on or before the fifth (5th) day following the date such amount is due. Any payments made by Tenant to Landlord hereunder shall not be deemed a waiver by Landlord of any rights against the Tenant. The collection of such late charge by Landlord shall be in addition to and cumulative of any and all other remedies available to such party. It is the intention of Landlord and Tenant to conform to all applicable laws concerning the contracting for, charging and receiving of interest. In the event that any payments of interest required under this Lease are ever found to exceed any applicable limits, the charging party shall credit the amount of any such excess paid by the other party against any amount owing under this Lease or if all amounts owning under this Lease have been paid, the charging party shall refund to the other party the amount of such excess. Landlord and Tenant agree that Landlord shall not be subject to any applicable penalties in connection with any such excess interest, it being agreed that any such excess interest contracted for, charged or received pursuant to this Lease shall be deemed a result of a bona fide error and a mistake. The obligation of Tenant to pay Rent is an independent covenant, and no act or circumstance, whether constituting a breach of covenant by Landlord or not, shall release or modify Tenant’s Share of Operating Costs, obligation to pay Rent except as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term otherwise provided in such yearthis Lease.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Lease (I2 Technologies Inc)
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of if this Lease commences or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such ends on a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day or last day of a calendar month, then the Base Rental Rent for such partial the month in which this Lease so begins or ends shall be prorated and adjusted accordingly; (ii) except as otherwise set forth in this Lease, all Rent shall be paid to Landlord without offset or deduction, and the covenant to pay Rent shall be independent of every other covenant in this Lease; (iii) any sum due from Tenant to Landlord, which is not paid within five (5) business days following the date on which such sum is due shall bear interest from the date due until the date paid at the rental annual rate applicable of nine percent (12%) or the maximum rate permitted by law, whichever is less (the “Default Rate”); and, in addition, if Tenant’s failure to pay such sum shall continue for five (5) business days after written notice to Tenant of such failure (provided that Landlord shall not be required to deliver such notice more than two (2) times in any calendar year), Tenant shall pay Landlord a late charge for any Rent payment which is paid more than five days after its due date equal to five percent of such payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant shall have the right to inspect Landlord’s accounting records relative to Expenses and Taxes during normal business hours at any time within thirty days following the first full month furnishing to Tenant of the Lease Term for which a payment annual statement of rent is due. The Base Rental for Rent Adjustment; and, unless Tenant shall take written exception to any item in any such statement within such thirty day period, such statement shall be considered as final and accepted by Tenant; (vii) in the first full month event of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy termination of this Lease prior to the determination of any Adjustment Rent, Tenant’s agreement to pay any such sums and Landlord’s obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination of this Lease; (viii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in Section 2(B)(ii) of this Lease shall result in the payment by Tenant in any year of less than the Base Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the Building; (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be applied due on the same date as the Rent listed on the statement showing such amount is due; and (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the payment beginning of Base Rental and Tenant’s Share of Operating Costsany calendar year, Tenant shall continue to pay Adjustment Rent, as the case may be, by Landlord at the rate for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a previous calendar year, the Tenant’s Share of Operating Costs shall be prorated for year until Landlord delivers such year according to the number of days of the Lease Term in such yearestimate.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Office Lease (Telvent Git S A)
Payment of Rent. (a) Except as otherwise expressly provided in this LeaseTenant shall pay to Landlord, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or entity or at such other address place as Landlord may from time to time designate direct in writing. writing all amounts due Landlord mayfrom Tenant hereunder, at its optionincluding, xxxx Tenant for without limitation, Base Rent, but no delay or failure by Landlord Expense Adjustment and Tax Adjustment (all amounts due hereunder being referred to collectively as “Rent”). Except as specifically provided in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlordthis Lease, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offsetset off of any kind, except it being the intention of the parties that, to the full extent permitted by law, Tenant’s covenant to pay Rent shall be independent of all other covenants contained in this Lease, including Tenant’s continued occupancy of the Premises. Except as otherwise expressly provided in set forth herein, Tenant’s obligation hereunder to pay Rent accruing during the Term (whether or not the amount thereof is determined or determinable as of the date of termination or expiration of this Lease) shall survive the termination of this Lease or the surrender of possession of the Premises. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month All Rent shall be prorated paid (a) by wire transfer of immediately available Federal Reserve Funds (as hereinafter defined) to Landlord or its designee pursuant to the wiring instructions set forth below, which wiring instructions Landlord may change from time to time upon not less than twenty (20) days’ prior notice to Tenant, or (b) by electronic payment (ACH) (“ACH Payment”) of immediately available Federal Reserve Funds to Landlord or its designee pursuant to the payment instructions below; provided, however, (i) Tenant’s election to make any such payments by ACH Payment shall in no event extend or waive Tenant’s obligation to ensure that all amounts of Rent are received by Landlord and paid at the rental rate applicable during the first full month of the available as and when due under this Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month delays in posting of the funds made by ACH Payment shall not relieve Tenant of its obligations to timely make payments under this Lease Termnor shall such delays be deemed a Force Majeure Cause), and (ii) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(aif more than two (2) herein, is being deposited with Landlord payments required to be made by Tenant contemporaneously with in any 12-month period are not actually received by Landlord and available as and when due under this Lease due to such payments being made by ACH Payment (e.g., funds are not timely posted and available for Landlord’s use or funds are recalled for any reason), Landlord shall have the delivery right, upon ten (10) days’ prior written notice to Tenant, to revoke the right granted hereunder to make any subsequent payments of Rent by ACH Payment. Non-recurring installments of Rent may, in addition to being paid by wire transfer or by ACH Payment as set forth above, be paid by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days in lawful money of the Lease Term in such year.
United States of America by good and sufficient check (b) Notwithstanding anything herein subject to the contrarycollection), no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months drawn on a New York City bank that is a member of the Lease Term.Clearing House or a successor thereto, at the office of Landlord or such other place in the United States of America as Landlord may designate. As used herein,
Appears in 1 contract
Samples: Office Lease (Schrodinger, Inc.)
Payment of Rent. Base Sublease Rent and Additional Sublease Rent (acollectively the “Rent”) Except as otherwise expressly provided in this Lease, the Rent shall be due and is payable to Landlord in advance in equal monthly installments (the amount of monthly Rent so payable to be determined for each year by dividing the then annual Base Sublease Rent by twelve (12) in advance and by dividing the then known Additional Sublease Rent by twelve (12) and adding the two resulting quotients together) on the first (1st) calendar day of each calendar month during the Lease Sublease Term, at Landlord’s address as provided on except that the signature page first installment of Rent will be paid by Subtenant to Sublandlord upon execution of this Lease Agreement on behalf of Subtenant. To the extent that the Sublandlord’s share of the costs for Operating Expenses is modified during any year of the Sublease Term, the amount of monthly Rent payable by Subtenant shall be adjusted to take such modification into account. All Rent will be paid without notice, demand, set-off or to such other person deduction, in lawful money of the United States of America, at the address of Sublandlord for notices set forth below or at such other address place as Landlord Sublandlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Sublease Term commences begins on other than the first (1st) calendar day of a calendar monthmonth (i.e. the Effective Date), then Rent will be prorated on a per diem basis. If during the Base Rental Sublease Term, Subtenant shall fail to pay Rent within seven (7) days of when the Rent shall be due and payable, Subtenant shall pay to Sublandlord as liquidated damages for such partial month late payment, without notice or demand by Sublandlord, a sum equal to ten percent (10%) per annum on the amount of Rent then due, compounding monthly from the due date until paid in full and a $100.00 USD administrative charge. Subtenant and Sublandlord agree that such sums of liquidated damages are fair and reasonable due to the uncertainty of calculating actual damages. Provided further, however, that nothing contained in this Section 5 (c) shall be prorated deemed or construed to be a limitation of or in substitution of Sublandlord’s other rights and paid at remedies as provided under this Agreement, and Sublandlord shall have the rental rate applicable during the right to apply any monies received from Subtenant first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described to any deficiency in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental liquidated damages and Tenant’s Share any excess thereof to any item of Operating CostsRent, or any other charge, as the case Sublandlord may be, by Landlord for the appropriate periods without determine. Notwithstanding any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein provision hereof to the contrary, no Base Rental Subtenant’s liability for Rents accruing during the Sublease Term and Sublandlord’s obligation to refund overpayment of Rents paid to it by Subtenant shall survive the expiration or Tenant’s Share sooner termination of Operating Costs shall be due for the first five (5) months of the Lease Termthis Agreement.
Appears in 1 contract
Samples: Sublease Agreement (AntriaBio, Inc.)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the All Rent due and owing by Subtenant except Subtenant Rent shall be due payable directly to the Landlord as specified in the Lease; provided, however, if Landlord will not accept said payments, Subtenant shall notify Tenant of the same and Subtenant shall make such payments directly to Tenant, which will make such payments to Landlord. The Subtenant Rent shall be payable directly to Tenant. In connection with the payment of any Rent by Tenant or Subtenant to the Landlord in advance in monthly installments on throughout the first (1st) day of each calendar month during the Lease Term, a copy of the check or other confirmation of the payment thereof shall be sent by the party making such payment to the other party to this Sublease at Landlord’s the notice address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided set forth herein. All payments shall be in Tenant hereby acknowledges and agrees that notwithstanding the form of a check unless otherwise agreed by LandlordCommencement Date and Subtenant's early access, provided that payment by check if any, Subtenant shall not be deemed made if required to pay Base Annual Rent nor Subtenant Rent or any Additional Rent, including taxes and assessments, until June 1, 1997, and during such period Tenant shall be responsible to Landlord for payment of the check same. In the event the Commencement Date has not occurred by April 21, 1997, the June 1, 1997 date set forth above shall be advanced to July 1, 1997. In addition, should the Commencement Date occur after May 15, 1997, the July 1, 1997 date set forth above shall be advanced one (1) day for each day the Commencement Date is not duly honored with good fundsdelayed past May 15, 1997 because Tenant has failed to deliver Exclusive Possession of the Demised Premises to Subtenant as provided in Section 2 above in the condition required herein. The Subtenant shall deliver herewith to Tenant the sum of $28,750.00 which shall be retained by Tenant as a security deposit and, provided there is no default by Subtenant hereunder, shall be applied by Tenant against the last installment of Rent due by Subtenant hereunder. It is the intention of the parties that the Rent payable hereunder shall be net to Landlord/Tenant so that this Sublease shall yield to Landlord/Tenant the net Rent specified herein during the term of this Sublease, and that all costs, expenses and obligations of every kind and nature whatsoever relating to the Demised Premises during the Term shall be paid without notice, demand, abatement, deduction or offsetby Subtenant, except as otherwise expressly herein noted or noted in the Lease. Notwithstanding anything to the contrary contained herein, in the event of a fire or casualty to or condemnation of, the Demised Premises, all Rent payable hereunder shall xxxxx as provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated Sections 9 and paid at the rental rate applicable during the first full month 10 of the Lease Term for which a payment and Subtenant shall have the right to terminate this Sublease (but not the Lease) pursuant to the terms of rent is due. The Base Rental for the first full month Sections 9 and 10 of the Lease Term for which a payment Lease, subject to the terms of rent is due (i.e., the sixth [6th] full month Sections 9 and 10 of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy Lease. No termination of this Lease and shall Sublease pursuant to this Section will be applied to the payment effective unless Tenant is given notice of Base Rental and Tenant’s Share Subtenant's termination of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends this Sublease at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first least five (5) months days prior to the time Tenant is required to give notice of termination of the Lease Term.to Landlord pursuant to the provisions of Sections 9 and 10 of the Lease. SECTION 5 -
Appears in 1 contract
Samples: Sublease (Select Comfort Corp)
Payment of Rent. (a) Except as otherwise expressly provided in this LeaseAll Base Rent, the Percentage Rent, Additional Rent and other sums shall be due paid to Landlord without demand and without deduction, set-off, claim or counterclaim of any nature whatsoever which Tenant may have or allege to have against Landlord. All such Rent and other sums shall be paid to Landlord in legal tender of the United States in accordance with Section 1.1(n). Except to the extent that Rent is paid via ACH, such being processed pursuant to the immediately following paragraph below, Rent checks are to be made payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Termat 000 X. Xxxxx Blvd, at Landlord’s address as provided on the signature page of this Lease Winter Park, FL 32789, or to such other person person, firm or at such other address corporation as the Landlord may from time to time hereafter designate in writing. Landlord mayTenant agrees to pay a Ten dollar ($10.00) processing fee for submitting payment via check, at its cashier’s check or money order. The obligation of Tenant to pay Rent is independent of any other covenant, agreement, term or provision of this Lease. At Landlord’s option, xxxx Tenant for Rentshall make payments of Rent and all other payments to Landlord required by the Lease via Automated Clearing House Transfer (“ACH Payment”); in accordance with the terms and conditions of this Paragraph. If Landlord shall elect to have payments made by ACH Payment, but no delay or failure by Landlord in providing shall provide notice to Tenant of same and Tenant shall, within fifteen (15) days of the date of such notice from Landlord, execute and deliver to Landlord a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be complete Authorization Agreement in the form of a check unless otherwise agreed set forth in Exhibit I attached hereto or on such other form as shall be reasonably requested by Landlord, provided that payment together with a voided check for account verification, establishing arrangements whereby payments of the Rent and other funds are transferred by check ACH Payment initiated by Landlord from an account established by Tenant at a financial institution approved by Landlord. Thereafter, Tenant shall not be deemed made if continue to pay all rental and other obligations by ACH Payment initiated by Landlord unless otherwise directed by Landlord. Any denial or delay of a scheduled ACH Payment resulting from insufficient funds in the check is not duly honored with good funds. The Rent shall be paid without noticeaccount Tenant designates for the ACH debit or any other delay resulting from Tenant’s actions, demand, abatement, deduction or offset, except as otherwise expressly provided in subject to any cure period prescribed under this Lease. If the Lease Term commences on other than the first (1st) day of , shall immediately and automatically be a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month default of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearLease.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Retail Lease Agreement
Payment of Rent. All Rent shall be paid to Landlord in lawful money of the United States of America without, except as specifically provided herein, deduction, diminution, set-off, counterclaim or prior notice or demand. All such payments shall be made by electronic wire transfer or good checks payable to Landlord (a) Except or such other person, firm or corporation as otherwise expressly Landlord may hereafter designate in writing). Checks for payment of Rent shall be sent to Landlord's Address for Payment of Rent provided in Section 1 of this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address place as Landlord may hereafter designate in writing. Payment of Rent by electronic wire transfer shall be sent pursuant to wiring instructions provided by Landlord, which instructions may be replaced from time to time designate in writingby Landlord. Landlord may, at its option, xxxx No payment by Tenant for Rent, but no delay or failure receipt and acceptance by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if lesser amount than the check is not duly honored with good funds. The Monthly Base Rent or Additional Rent shall be paid deemed to be other than partial payment of the full amount then due and payable; nor shall any endorsement or statement on any check or any letter accompanying any check, payment of Rent or other payment, be deemed an accord and satisfaction; and Landlord may accept, but is not obligated to accept, such partial payment without notice, demand, abatement, deduction prejudice to Landlord's right to recover the balance due and payable or offset, except as otherwise expressly to pursue any other remedy provided in this LeaseLease or by law. If Landlord shall at any time or times accept Rent after it becomes due and payable, such acceptance shall not excuse a subsequent delay or constitute a waiver of Landlord's rights hereunder. Any Rent owed by Tenant to Landlord, including, without limitation, Annual Base Rent, Additional Rent, Tenant's Pass-Through Costs and Late Charges (hereinafter defined), which is not paid within ten (10) days after the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for date such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due shall bear interest from the due date at a rate (i.e.the "Default Rate") equal to the lesser of (i) the prime rate on corporate loans quoted in the Wall Street Journal plus two percent (2%), or (ii) the sixth [6th] full month of the Lease Term) plus an estimated monthly highest interest rate permitted by law. In addition, if any amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery Rent required to be paid by Tenant to Landlord of an executed copy under the terms of this Lease is not paid within fifteen (15) days after the date such payment is due, then in addition to paying the amount of Rent then due, Tenant shall pay to Landlord a late charge (the "Late Charge") equal to five percent (5%) of the amount of Rent then required to be paid. Payment of such Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and said check is returned by the bank unpaid, Tenant shall be applied pay to Landlord any and all charges assessed by the bank or payable by Landlord in connection therewith, plus the sum of One Hundred Dollars ($100.00), in addition to the Rent payment of Base Rental and Tenant’s Share of Operating Costsany other charges provided for herein (including the Late Charge and interest at the Default Rate). Any interest, as Late Charge and other amounts charged hereunder shall constitute Additional Rent. Notwithstanding the case may beforegoing, by Landlord for shall waive all the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due Late Charge and interest for the first late payment in any calendar year provided that Tenant submits to Landlord the late payment within five (5) months of days after Landlord’s written notice to Tenant that it has not received the Lease Termpayment that is due.
Appears in 1 contract
Samples: Deed of Lease (Vse Corp)
Payment of Rent. (a) Except as otherwise expressly provided in this LeaseTenant agrees to pay to Landlord, commencing on the Fixed Rent shall be due Commencement Date, and payable to Landlord continuing and monthly in advance in monthly installments throughout the remainder of the Lease Term, on the first (1st) day of each and every calendar month during the Lease Original Term, at Landlord’s address as provided on a sum equal to one-twelfth (1/12th) of the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate Annual Fixed Rent specified in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental Section 1.2 hereof and on the first (1st) day of each and every calendar month during each Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent as provided hereindetermined in Section 3.2 for the applicable Extended Term. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Annual Fixed Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such any partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and at such rate on a pro rata basis, and, if the Fixed Rent Commencement Date shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar yearmonth, the Tenant’s Share first payment of Operating Costs Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Fixed Rent Commencement Date to the first day of the succeeding calendar month. Until notice of some other designation is given Annual Fixed Rent, Additional Rent, and all other charges for which provision is herein made shall be paid by remittance to or for the order of Landlord as follows: S&A P-12 Property LLC c/o Samuels & Associates 000 Xxxxxxxxx Xxxxxx Xxxxxx, XX 00000 or by electronic ACH transfer to Landlord as follows: Bank ABA Number: 000000000 Account Number: 00000000 Name of Bank: Xxxxxxx Bank Account Name: S&A P-12 Property LLC Address: 000 Xxxxxxxxx Xxxxxx City: Boston State: MA Zip Code: 02215 Additional Rent payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months any partial month of the Lease Term, and the first payment on account thereof shall be determined in similar fashion and shall, unless otherwise expressly stated in this Lease, commence on the Commencement Date. Annual Fixed Rent, Additional Rent and all other charges payable under this Lease shall be paid by Tenant to Landlord in lawful money of the United States in immediately available funds and without notice or demand and with setoff, deduction or abatement, except as otherwise expressly set forth in this Lease. Tenant shall pay when due all Annual Fixed Rent and Additional Rent and all charges for utility services rendered to the Premises and service inspections therefor except as otherwise provided in Article VII and, as further Additional Rent, all charges for additional and special services rendered pursuant to Article VII.
Appears in 1 contract
Samples: Lease Agreement (CarGurus, Inc.)
Payment of Rent. Tenant is required to make payments of Rent and all other payments to Landlord required by the Lease via Automated Clearing House Transfer (a“ACH Payment”); in accordance with the terms and conditions of this Paragraph. Landlord and Xxxxxx will agree upon a commercially reasonable ACH Authorization Form for all ACH Payments no later than the date that is fifteen (15) Except days after the date that his Lease is fully executed. Tenant shall pay all rental and other obligations by ACH Payment unless otherwise directed by Xxxxxxxx. Any denial or delay of a scheduled ACH Payment resulting from insufficient funds in the account Tenant designates for the ACH debit or any other delay resulting from Xxxxxx’s actions, subject to any cure period prescribed under this Lease, shall immediately and automatically be a default of the Lease. All installments of rent are due on the first day of each month and considered late after the fifth (5th) day of that month. If the monthly rental payments are not made by the fifth (5th) of the month, Landlord may charge Tenant, and Tenant shall pay as Additional Rent, a ten (10%) percent late payment penalty. Any Rent not paid within thirty (30) days after the date due shall also accrue interest from the due date at a rate of one- and one-half percent (1.5%) per month, or the highest rate permitted by applicable Law, whichever shall be less (the “Default Rate”) until paid. If any ACH Payment or check delivered by Tenant is dishonored by Tenant’s bank, the amount due shall be automatically deemed a late payment and treated accordingly as set forth herein. In addition, thereto, for each dishonored ACH Payment or check, Tenant shall pay, as Additional Rent, to Landlord a service charge of twenty-five ($25.00) dollars to cover administrative expenses as same may be adjusted from time to time. If during the term of this Lease more than two (2) of Tenant’s ACH Payments or checks are dishonored, then Landlord, in Landlord’s sole discretion, may require all future Rent of Tenant to be paid by cashier’s check or money order only. Tenant shall also pay to Landlord any applicable sales or use tax on the charges levied under this Article. No right contained in this Paragraph shall be construed as a waiver of Landlord’s rights in the event of default, as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Office Lease
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided in if this LeaseLease commences or ends on a day other than the first day or last day of a calendar year, respectively, the Rent for the year in which this Lease so begins or ends shall be due prorated and payable to Landlord in advance in the monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The adjusted accordingly; (ii) all Rent shall be paid to Landlord without notice, demand, abatement, offset or deduction or offset, (except as otherwise expressly provided in this Lease. If ), and the Lease covenant to pay Rent shall be independent of every other covenant in this Lease; (iii) if during all or any portion of any calendar year during the Term commences on other than the first Building is not at least ninety-five percent (1st95%) day occupied by tenants, Landlord may elect to make an appropriate adjustment of a calendar month, then the Base Rental Expenses for such partial month calendar year to determine the Expenses that would have been paid or incurred by Landlord had the Building been at least ninety-five percent (95%) occupied by tenants for the entire calendar year and the amount so determined shall be prorated and deemed to have been the Expenses for such calendar year; (iv) any sum due from Tenant to Landlord which is not paid when due shall bear interest from the date due until the date paid at the rental annual rate applicable during the first full month of the prime rate then in effect for the First National Bank of Boston plus four percent (4%), but in no event higher than the maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to five percent (5%) of such payment; (v) if changes are made to this Lease Term or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant shall have the right to inspect Landlord’s accounting records relative to Expenses and Taxes during normal business hours at any time within one hundred twenty (120) days following the furnishing to Tenant of the annual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such one hundred twenty (120) day period, such statement shall be considered as final and accepted by Tenant; (vii) upon request of Tenant, Landlord shall furnish Tenant a copy of the most current invoice for Taxes that has been received by Landlord from the taxing authority; (viii) in the event of the termination of this Lease prior to the determination of any Adjustment Rent, Tenant’s agreement to pay any such sums and Landlord’s obligation to refund any such sums (to the extent that Tenant is not in default hereunder) shall survive the termination of this Lease; (ix) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Base Rent shown on the Schedule; (x) each amount owed to Landlord under this Lease for which a the date of payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is not expressly fixed shall be due within thirty (i.e., the sixth [6th] full month of the Lease Term30) plus an estimated monthly amount days of Tenant’s receipt of the statement showing such amount is due; (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent at the rate for the previous calendar year until Landlord delivers such estimate; and (xii) if, after Tenant shall have made any payment of Adjustment Rent to Landlord pursuant to Section 2.B., Landlord shall receive a refund of any portion of Taxes paid by Tenant with respect to any tax period during the Term of this Lease as a result of abatement of such Taxes by legal proceedings, settlement or otherwise, Landlord shall credit to Tenant Tenant’s Proportionate Share of Operating Costs described such refund (less the proportional pro rata reasonable expenses, including reasonable attorneys’ fees and appraisers’ fees incurred by Landlord in Section 6(a) hereinconnection with obtaining such refund), is being deposited with Landlord by Tenant contemporaneously with the delivery as it relates to Taxes paid by Tenant to Landlord with respect to any such period for which a refund is obtained. Landlord represents to Tenant that Landlord has not filed for an abatement of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord Taxes for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such fiscal year according to the number of days of the Lease Term in such year1995.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of if this Lease commences or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such ends on a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first last day of a calendar year, respectively, the Tenant’s Share of Operating Costs Rent for the year in which this Lease so begins or ends shall be prorated for and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid to Landlord without offset or deduction, except as expressly provided herein, and the covenant to pay Rent shall be independent of every other covenant in this Lease; (iii) any sum due from Tenant to Landlord that is not paid on or before the tenth (10th) day of when due shall bear interest from the date due until the date paid at the annual rate of eighteen percent (18%), but in no event higher than the maximum rate permitted by law (the “Default Rate”) and, in addition, Tenant shall pay Landlord a late charge equal to three percent (3%) of such year according payment; (iv) if changes are made to this Lease or the Building changing the Rentable Square Feet of the Premises or Rentable Square Feet of the Building, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (v) Tenant, or an independent certified accounting firm retained by Tenant on an hourly fee basis (and not on a contingency fee basis), shall have the right to inspect Landlord’s accounting records relative to Expenses and Taxes during normal business hours at any time within ninety (90) days following the furnishing to Tenant of the annual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such ninety (90) day period, such statement shall be considered as final and accepted by Tenant; (vi) in the event of the termination of this Lease prior to the number determination of days any Adjustment Rent, Tenant’s agreement to pay any such sums and Landlord’s obligation to refund any such sums (provided Tenant is not in Default hereunder) shall survive the termination of this Lease; (vii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease Term shall result in such year.
the payment by Tenant in any year of less than the Base Rent shown on the Schedule; (bviii) Notwithstanding anything herein each amount owed to Landlord under this Lease for which the contrary, no Base Rental or Tenant’s Share date of Operating Costs payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; and (ix) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent at the rate for the first five (5) previous calendar year until Landlord delivers such estimate, at which time Tenant shall thereafter pay the increased amount, if any, for all remaining months of the Lease Termsuch calendar year.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the all Base Rent and Additional Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term. Rent shall be paid to Landlord at its address recited in Section 27.7, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided offset in legal tender of the United States of America. The Base Rent for the first full calendar month of the Lease Term shall be paid upon execution by Tenant of this Lease. If In addition, if the Lease Term commences or ends on other than the first (1st) or the last day of a calendar month, then the Base Rental Rent for such the partial month shall be prorated on the basis of the number of days during the applicable month and paid at the rental rate applicable during the first full month of on or before the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by TenantCommencement Date. If the Lease Term commences or ends at any time on other than the first or the last day of a calendar yearFiscal Year, the Tenant’s Share of Operating Costs Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated for such year according to on the basis of the number of days during the applicable Fiscal Year. All payments received by Landlord from Tenant shall be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a separate or on a check or money order, shall modify this clause or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the income or profits derived from the lease, use or occupancy of the Lease Term in such year.
(b) Notwithstanding anything herein Premises. In the event Landlord’s Mortgagee succeeds to the contraryLandlord’s interests under this Lease and determines that all or any portion of the Rent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, no Base Rental or Landlord’s Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease will constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant’s Share payment obligations or other liabilities, or reduce the obligations of Operating Costs shall be due for the first five (5) months of the Lease TermLandlord, under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Overstock Com Inc)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the all Base Rent and Additional Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term. Rent shall be paid to Landlord at its address recited in Section 27.7, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address in the United States as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offsetoffset in legal tender of the United States of America. The Base Rent for the first full calendar month of the Term shall be paid upon execution by Tenant of this Lease (and if the condition precedent in Section 3.1 is not satisfied, except as otherwise expressly provided in this Leasethen Landlord shall return such amount to Tenant within thirty (30) days thereafter). If In addition, if the Lease Term commences or ends on other than the first (1st) or the last day of a calendar month, then the Base Rental Rent for such the partial month shall be prorated on the basis of the number of days during the applicable month and paid at on or before the rental rate applicable Commencement Date. If the Term commences or ends on other than the first or the last day of a Fiscal Year, the Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated on the basis of the number of days during the first full month of the Lease Term for which a payment of rent is dueapplicable Fiscal Year. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with All payments received by Landlord by from Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the oldest payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, obligation owed by Landlord for the appropriate periods without any further notice Tenant to Landlord. No designation by Tenant, either in a separate writing or on a check or money order, shall modify this clause or have any force or effect. If The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the Lease Term commences income or ends at any time other than profits derived from the first day lease, use or occupancy of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according Premises. In the event Landlord's Mortgagee succeeds to the number of days Landlord's interests under this Lease and determines that all or any portion of the Lease Term in such year.
(b) Notwithstanding anything herein Rent payable hereunder is or may be deemed to be unrelated business income within the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord's Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease Termwill constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant's payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s 's address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental and Tenant's Share of Basic Operating Costs on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. .
(b) If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is dueTerm. The Any such prorated Base Rental, plus the Base Rental for the first full month of the Lease Term for which a payment of rent Base Rental is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) hereinpayable, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s 's Share of Basic Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(bc) Notwithstanding anything herein Tenant will deliver to Landlord, with the contraryexecuted copy of this Lease, no (i) the initial monthly payment for Month one (1) of Base Rental or of $3,607.50, and (ii) the initial monthly payment for Month one (1) of the estimated Tenant’s 's Share of Basic Operating Costs shall Costs, which will be due based on calendar year 2007 estimates until subsequently adjusted as hereinafter provided, and Landlord has estimated to be $2,537.28 per month, for the first five (5) months a total payment to be made with delivery of the Lease Termof $6144.78.
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Payment of Rent. (a) Except Tenant shall pay to Landlord, without notice or demand, and without any set-off, counterclaim, abatement or deduction whatsoever, except as otherwise may be expressly provided set forth in this Lease, in lawful money of the United States by wire transfer of funds into any lockbox account or accounts as designated by Landlord, (i) Fixed Rent shall be due and payable to Landlord in advance equal monthly installments, in monthly installments advance, on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be during the Term, commencing on the Commencement Date, and (ii) Additional Rent, at the times and in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided manner set forth in this Lease. If Landlord shall provide the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental information for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Termlockbox account(s) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant pursuant to Landlord of an executed copy of instructions separate from this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearLease.
(b) Notwithstanding anything contained herein to the contrary, but provided no Base Rental or Event of Default exists hereunder, Tenant’s obligations for Fixed Rent, Tenant’s Share of Operating Costs Expenses and Tenant’s Share of Taxes shall be due abated for a period of ten (10) full calendar months commencing on the Commencement Date (the “Free Rent Period”). In the event that an Event of Default shall occur prior to or during the Free Rent Period, then any current abatement shall immediately cease, any further abatement during the remainder of the Free Rent Period shall be null and void and Tenant shall thereafter pay full Fixed Rent, Tenant’s Share of Operating Expenses and Tenant’s Share of Taxes for the first five (5) months remainder of the Term. In the event the Lease Termterminates or expires at any time prior to the expiration of the Free Rent Period, Tenant shall have no claim to any payment of any unutilized abatement.
Appears in 1 contract
Samples: Lease Agreement (Affirmative Insurance Holdings Inc)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the all Base Rent and Additional Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term. Rent shall be paid to Landlord at its address recited in Section 27.7, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address in the United States as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided offset in this Leaselegal tender of the United States of America. If The Base Rent for the first full calendar month of the Lease Term shall be paid as follows: Twenty-One Thousand and 00/100 Dollars ($21,000.00) shall be paid upon execution by Tenant of this Lease, and the remaining balance of Twenty Thousand Nine Hundred Eighty-Seven and 52/100 ($20,987.52) shall be paid on or before April 15, 2000. In addition, if the Term commences or ends on other than the first (1st) or the last day of a calendar month, then the Base Rental Rent for such the partial month shall be prorated on the basis of the number of days during the applicable month and paid at the rental rate applicable during the first full month of on or before the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by TenantCommencement Date. If the Lease Term commences or ends at any time on other than the first or the last day of a calendar yearFiscal Year, the Tenant’s Share of Operating Costs Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated for such year according to on the basis of the number of days during the applicable Fiscal Year. All payments received by Landlord from Tenant shall be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a separate or on a check or money order, shall modify this clause or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the income or profits derived from the lease, use or occupancy of the Lease Term in such year.
(b) Notwithstanding anything herein Premises. In the event Landlord's Mortgagee succeeds to the contrary, no Base Rental Landlord's interests under this Lease and determines that all or Tenant’s Share of Operating Costs shall be due for the first five (5) months any portion of the Rent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord's Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease Termwill constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant's payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Ventro Corp)
Payment of Rent. (aA) Except The Rent shall be paid during the Term to Landlord or to the duly authorized agent of Landlord at such address set forth in the Basic Lease Provisions or as otherwise may be designated from time to time by Landlord. If the Commencement Date is other than the first day of the month, any Rent provided for shall be prorated accordingly in the first partial calendar month of the Term.
(B) Tenant covenants to pay when due, as Additional Rent, all financial obligations expressly undertaken by Tenant, including but not limited to, the cost of any improvements, alterations or changes made by Landlord at Tenant’s request, and to reimburse Landlord within fifteen (15) business days of demand therefor any and all sums Landlord may advance for or on account of any of these obligations or expenses.
(C) Tenant shall pay the Rent as provided in this Lease, without deduction, counterclaim or set-off whatsoever, and except as expressly provided in this Lease, without any obligation on Landlord to demand payment. Without limiting the generality of the foregoing, and notwithstanding any provision of this Lease to the contrary, in no event will Tenant be entitled to any abatement, deferral or other accommodation with respect to Rent due to any now existing or hereafter arising viral outbreak, epidemic affecting New Hanover County, NC or national pandemic or to any quarantine, stay-at-home, shelter-in-place or similar orders. Any Rent, or any installment thereof, not paid by the fifth (5th) business day after the due date thereof shall be considered delinquent and subject to a late payment charge, for each occurrence of delinquency, of five percent (5%) of the Rent overdue and payable; provided, however, that for Landlord to be entitled to receive a late payment charge for the first late payment of Rent in any twelve (12) month period, Landlord shall have to notify Tenant of the late Rent and allow five (5) days to elapse after such notice is received or deemed received by Tenant hereunder without payment of such amount by Tenant. This late payment charge shall be due and payable to Landlord in advance in monthly installments on with the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a next payment of rent is Rent due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Office Lease (Ncino, Inc.)
Payment of Rent. (a) Except as otherwise expressly provided in this LeaseTenant shall pay, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Termwithout prior notice or demand, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address place as Landlord may from time to time designate in writing. Landlord may, by a check for currency which, at its optionthe time of payment, xxxx Tenant is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent”) as set forth in Section 4 of the Summary, but no delay payable in equal monthly installments as set forth in Section 4 of the Summary, in advance, on or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on before the first (1st) day of each and every calendar month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If during the Lease Term commences on other than the first (1st) day of a calendar monthTerm, then the without any setoff or deduction whatsoever. Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental Rent for the first full month of the Lease Term for which a payment of rent is due (i.e., shall be paid at the sixth [6th] full month of the Lease Term) plus an estimated monthly amount time of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy execution of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by TenantLease. If any Rent payment date (including the Lease Term commences or ends at any time Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a calendar yearperiod which is shorter than one month, the Tenant’s Share of Operating Costs Rent for any fractional month shall be prorated accrue on a daily basis for the period from the date such year according payment is due to the number end of days such calendar month or to the end of the Lease Term in such yearat a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent.
” Without limiting the foregoing, Tenant’s obligation to pay Rent shall be absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation ow or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (b) Notwithstanding anything except as expressly provided herein), any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; provided, however, Tenant shall have the right to institute a suit for recovery of any damages suffered by Tenant as a consequence of a default by Landlord. Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Lease (Conatus Pharmaceuticals Inc.)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent Tenant shall be due and payable pay to Landlord the Base Rent and Additional Rent for all of the Suite Spaces for which the Lease Commencement Date applicable thereto have previously occurred (a) in one (1) payment by check or via federal wire transfer, and (b) in advance in monthly installments on the first (1st) business day of each calendar month during the Lease Term. Rent shall be paid to Landlord at NOP Xxxxxxxxxx 0000, at Landlord’s address as provided on LLC, File #30679, X.X. Xxx 00000, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000-0000 (or wired via federal wire transfer into the signature page of this Lease account designated by Landlord in writing from time-to-time), or to such other person or at such other address in the United States as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided offset in legal tender of the United States of America. The monthly Base Rent amount that is payable for the first calendar month of the applicable Term of this Lease for the entire Premises shall be paid upon execution by Tenant of this Lease. If In addition, (i) if the Lease applicable Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term applicable Suite Space commences or ends at any time on other than the first day of a calendar yearmonth, the Tenant’s Share of Operating Costs Base Rent for the partial month for such applicable Suite Space shall be prorated for such year according to on the basis of the number of days during the applicable month and paid on or before the applicable Lease Commencement Date for such applicable Suite Space, and (ii) if the Lease Expiration Date for the entire Premises occurs on other than the last day of a calendar month, the Base Rent for the partial month for the entire Premises shall be prorated on the basis of the number of days during such applicable month and paid on or before the first (1st) day of such partial month. If the Term of this Lease Term commences or ends on other than the first or the last day of an Expense Year, the Excess for the partial Expense Year calculated as provided in such year.
(b) Notwithstanding anything herein Section 5.3 above shall be prorated on the basis of the number of days during the applicable Expense Year. All payments received by Landlord from Tenant shall be applied to the contraryoldest payment obligation owed by Tenant to Landlord. No designation by Tenant, no Base Rental either in a separate writing or on a check or money order, shall modify this Section or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the income or profits derived from the lease, use or occupancy of the Premises. If Landlord determines that all or any portion of the Rent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord’s Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease will constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant’s Share payment obligations or other liabilities, or reduce the obligations of Operating Costs shall be due for the first five (5) months of the Lease TermLandlord, under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Fusion-Io, Inc.)
Payment of Rent. (a) Except The term "Rent" as otherwise expressly used herein shall mean the Base Rental, the Tenant's proportionate Share of Actual Operating Expenses in excess of the Base Operating Expenses Rate, the Parking Rentals and all other amounts provided for in this LeaseLease to be paid by Tenant, all of which shall constitute rental in consideration for this Lease and the leasing of the Leased Premises. The term "Additional Rent" as used herein means Rent exclusive of Base Rental. The Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease TermTerm hereof, in legal tender of the United States of America to Landlord at Landlord’s the address as provided on the signature page of this Lease shown in Section 5.16 or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, offset except as otherwise expressly provided for in this Leasethe Lease . In no event shall the Landlord accept or be bound by any payment of Rent more than thirty (30) days in advance, unless otherwise agreed to in writing between Landlord and Tenant. If the Lease Term commences or ends on other than the first (1st) or last day of a calendar month, then the installment of Base Rental and the Parking Rentals for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenantappropriately prorated. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s 's Proportional Share of Actual Operating Costs Expenses in excess of the Base Operating Expenses Rate shall be prorated for such year according to the number of days of the Lease Term in during such year.
(b) Notwithstanding anything herein to the contrary, . In no event shall Base Rental or Tenant’s Share of Operating Costs shall monthly installments thereof be due for less than the first five (5) months of the Lease Termamounts specified in Section 2.01.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the All Rent shall be due and payable to paid in lawful money of the United States of America without deduction, diminution, set-off, counterclaim or prior notice or demand, at the office of Landlord as provided in advance Section 1.i. hereof or at such other place as Landlord may hereafter designate in monthly installments writing, on the first (1st) day of each every calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease . All such payments shall be made by good checks payable to Landlord or to such other person person, firm or at such other address corporation as Landlord may from time to time hereafter designate in writing. Landlord may, at its option, xxxx No payment by Tenant for Rent, but no delay or failure receipt and acceptance by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if lesser amount than the check is not duly honored with good funds. The Monthly Base Rent or Additional Rent shall be paid deemed to be other than partial payment of the full amount then due and payable; nor shall any endorsement or statement on any check or any letter accompanying any check, payment of Rent or other payment, be deemed an accord and satisfaction; and Landlord may accept, but is not obligated to accept, such partial payment without notice, demand, abatement, deduction prejudice to the Landlord’s right to recover the balance due and payable or offset, except as otherwise expressly to pursue any other remedy provided in this LeaseLease or by law. If Landlord shall at any time or times accept Rent after it becomes due and payable, such acceptance shall not excuse a subsequent delay or constitute a waiver of Landlord’s rights hereunder. Any Rent owed by Tenant to Landlord, including, without limitation, Annual Base Rent, Additional Rent, Tenant’s Pass-Through Costs and Late Charges, which is not paid within five (5) days after the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for date such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due shall bear interest from the due date at a rate equal to the prime rate on corporate loans quoted in the Wall Street Journal (i.e., the sixth [6th] full month of the Lease Term“Prime Rate”) plus an estimated monthly four percent (4%). In addition, if any amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery Rent required to be paid by Tenant to Landlord of an executed copy under the terms of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first is not paid within five (5) months days after the date such payment is due, then in addition to paying the amount of Rent then due, Tenant shall pay to Landlord a late charge (the “Late Charge”) equal to five percent (5%) of the Lease Termamount of Rent then required to be paid. Payment of such Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and said check is returned by the bank unpaid, Tenant shall pay to Landlord the sum of One Hundred Dollars ($100.00) to cover the costs and expenses of processing the returned check, in addition to the Rent payment and any other charges provided for herein. Any interest, Late Charge and other amounts charged hereunder shall constitute Additional Rent.
Appears in 1 contract
Samples: Deed of Lease (Iceweb Inc)
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of if this Lease commences or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such ends on a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first last day of a calendar year, respectively, the Tenant’s Share of Operating Costs Rent for the year in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid to Landlord without offset or deduction, and the covenant to pay Rent shall be independent of every other covenant in this Lease; (iii) if during all or any portion of any year the Building is not fully rented and occupied (fully rented and occupied shall mean that ninety-five percent (95%) of the Rentable Square Feet of the Building is occupied by tenants under lease), Landlord may elect to make an appropriate adjustment of variable Expenses for such year according to determine the number of days of Expenses that would have been paid or incurred by Landlord had the Lease Term in Building been fully rented and occupied for the entire year and the amount so determined shall be deemed to have been the Expenses for such year.
; (biv) Notwithstanding anything herein any sum due from Tenant to Landlord which is not paid when due shall bear interest from the contrarydate due until the date paid at the annual rate of five percentage (5%) points above the Prime Rate then in effect, but in no Base Rental or Tenant’s Share of Operating Costs event higher than the maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall be due pay Landlord a late charge for the first any Rent payment which is paid more than five (5) days after its due date equal to five percent (5%) of such payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant, or an independent certified accounting firm retained by Tenant on an hourly fee basis (and not on a contingency fee basis), shall have the right to inspect Landlord’s accounting records relative to Expenses and Taxes during normal business hours at any time within thirty (30) days following the furnishing to Tenant of the annual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such thirty (30) day period, such statement shall be considered as final and accepted by Tenant; (vii) in the event of the termination of this Lease prior to the determination of any Adjustment Rent, Tenant’s agreement to pay any such sums and Landlord’s obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination or expiration of this Lease; (viii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Base Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the Building; (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; and (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent at the rate for the previous calendar year until Landlord delivers such estimate, at which time Tenant shall pay retroactively the increased amount for all previous months of the Lease Termsuch calendar year.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s 's address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant bill Xxxant for Rent, but no delay or failure by Landlord in providing such a xxxx shall bill xxxll relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. Notwithstanding to the contrary set forth herein, Base Rental for the first (1st) full calendar month during the Lease Term shall be abated. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due second (i.e., the sixth [6th] 2nd) full month of the Lease Term. Any such prorated Base Rental, plus the Base Rental due for the second (2nd) plus an estimated monthly amount full month of Tenant’s Share of Operating Costs described in Section 6(a) hereinthe Lease Term, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to due and payable on the payment first (1st) day of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for second (2nd) calendar month during the appropriate periods without any further notice by TenantLease Term. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s 's Share of Basic Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Office Lease Agreement (Caprock Communications Corp)
Payment of Rent. (a) Except as otherwise expressly The Rent provided for in this Lease, the Rent Article 5 shall be due and payable to Landlord in advance in monthly installments on paid by the first (1st) day of each calendar month during the Lease Term, at Landlord’s address Tenant as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. follows:
a. The Annual Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than equal consecutive monthly installments in advance of the first (1st) day of each and every month during the Term. The first monthly installment of the Annual Rent shall be paid by the Tenant on the Commencement Date of the Term. Where the Commencement Date of the Term is the first day of a month, such installment shall be in respect of such month; where the Commencement Date of the Term is not on the first day of a calendar month, then the Base Rental Annual Rent for such partial the period from the Commencement Date of the Term at the first day of the next ensuing calendar month shall be prorated pro-rated on a per diem basis and paid at the rental rate applicable during on the first full day of such month and the installment of the Lease Annual Rent paid upon the Commencement Date of the Term for which a payment shall be in respect of rent is due. The Base Rental the Annual Rent for the first full calendar month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated ; thereafter in either case subsequent monthly amount of Tenant’s Share of Operating Costs described installments shall each be in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than advance on the first day of a each ensuing calendar yearmonth during the Term.
b. The amount of Additional Rent pursuant to Article 5.1b which the Tenant is to pay shall be estimated by the Landlord for such period as the Landlord may determine. The Tenant agrees to pay to the Landlord such amount in monthly installments in advance during such period on the dates and at the times for payment of the Annual Rent provided for in this Lease. As soon as reasonably possible after the end of the period for which such estimated payments have been made, the Tenant’s Share of Operating Costs Tenant shall be prorated for such year according to the number of days advised of the Lease Term in such year.
(b) Notwithstanding anything herein actual amount required to be paid as Additional Rent pursuant to Article 5.1c and if necessary, an adjustment shall thereupon be made between the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due parties. The Additional Rent for the first five (5) months year of the Lease Termterm is currently estimated at three Dollars ($3.00) per square foot.
c. The Tenant acknowledges that the Annual Rent is calculated on the basis of the Rentable Area of the Leased Premises being approximately 5,014 square feet at a rate of eight Dollars ($8.00) for each square foot of Rentable Area. The Tenant agrees that the Landlord may adjust the Annual Rent in the event that the Rentable Area of the Leased Premises is found to be different than the Rentable Area stated above.
Appears in 1 contract
Payment of Rent. (a) Except All rent shall be paid in lawful money of the United States of America without deduction, diminution, set-off, counterclaim or prior notice or demand, at the office of Landlord as otherwise expressly provided in this LeaseSection 1g hereof or at such other place as Landlord may hereafter designate in writing, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each every calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease . All such payments shall be made by good checks payable to Landlord or to such other person person, firm or at such other address corporation as Landlord may from time to time hereafter designate in writing. Landlord may, at its option, xxxx No payment by Tenant for Rent, but no delay or failure receipt and acceptance by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if lesser amount than the check is not duly honored with good funds. The Monthly Base Rent or Additional Rent shall be paid deemed to be other than part payment of the full amount then due and payable; nor shall any endorsement or statement on any check or any letter accompanying any check, payment of Rent or other payment, be deemed an accord and satisfaction; and the Landlord may accept, but is not obligated to accept, such part payment without notice, demand, abatement, deduction prejudice to the Landlord's right to recover the balance due and payable or offset, except as otherwise expressly to pursue any other remedy provided in this LeaseLease or by law. If the Lease Term commences on other than the first (1st) day Landlord shall at any time or times accept Rent after it becomes due and payable, such acceptance shall not excuse a subsequent delay or constitute a waiver of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is dueLandlord's rights hereunder. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly If any amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery Rent required to be paid by Tenant to Landlord of an executed copy under the terms of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first is not paid within five (5) months days after the date such payment is due, then in addition to paying the amount of Rent then due, Tenant shall pay to Landlord a late charge (the "Late Charge") equal to five percent (5%) of the Lease Termamount of Rent then required to be paid. Payment of such Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and said check is returned by the bank unpaid, Tenant shall pay to Landlord the sum of ($ ) to cover the costs and expenses of processing the returned check, in addition to the Rent payment and any other charges provided for herein. Any Late Charge and other amounts charged hereunder shall constitute Additional Rent.
Appears in 1 contract
Samples: Office Lease
Payment of Rent. Tenant shall pay to Landlord the Annual Basic Rent set forth in Article 1.12 above, subject to adjustment as provided herein. Notwithstanding any provision of this Lease to the contrary, Tenant shall pay to Landlord the Annual Basic Rent with respect to 45,118 rentable square feet (aSuite 120) Except from and after the Commencement Date, Annual Basic Rent with respect to 5,671 rentable square feet (part of Suite 200) from and after 5/18/96 and shall pay the Annual Basic Rent with respect to the remaining 5,256 rentable square feet (Suites 225 and 240) from and after the completion of the Tenant Improvements described on Exhibit "H". Landlord and Tenant acknowledge and agree that time is of the essence with respect to their respective obligations as otherwise expressly provided set forth in this Lease, Exhibit "H" and Tenant shall use its best efforts to cooperate with Landlord with respect to the completion of the Tenant Improvements. The Annual Basic Rent shall be due and payable to Landlord paid in advance in equal monthly installments installments, on or before the first (1st) day of each and every calendar month during the Lease Term, at Landlord’s address as provided in advance, without notice or demand and without abatement, deduction or set-off. If the Commencement Date is other than the first day of a calendar month, the payment for the partial month following the Commencement Date shall be prorated and shall be payable on the signature page first day of the first full calendar month of the Lease Term. The Annual Basic Rent for the first full month of the Lease Term shall be paid upon the execution of this Lease. All payments requiring proration shall be prorated on the basis of a thirty (30) day month. In addition, all payments to be made under this Lease shall be paid in lawful money of the United States of America to Landlord or its agent at the address set forth in Article 1.3 above, or to such other person or at such other address place as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Office Lease (Pegasus Solutions Inc)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent Tenant shall be due and payable pay to Landlord the Base Rent and Additional Rent for all of the Suite Spaces for which the Lease Commencement Date applicable thereto have previously occurred (a) in one (1) payment by check or via federal wire transfer, and (b) in advance in monthly installments on the first (1st) business day of each calendar month during the Lease Term. Rent shall be paid to Landlord at NOP 2855 Cottonwood, at Landlord’s address as provided on LLC, File #30661, X.X. Xxx 00000, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000-0000 (or wired via federal wire transfer into the signature page of this Lease account designated by Landlord in writing from time-to-time), or to such other person or at such other address in the United States as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided offset in legal tender of the United States of America. The monthly Base Rent amount that is payable for the first calendar month of the applicable Term of this Lease for the entire Premises shall be paid upon execution by Tenant of this Lease. If In addition, (i) if the Lease applicable Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term applicable Suite Space commences or ends at any time on other than the first day of a calendar yearmonth, the Tenant’s Share of Operating Costs Base Rent for the partial month for such applicable Suite Space shall be prorated for such year according to on the basis of the number of days during the applicable month and paid on or before the applicable Lease Commencement Date for such applicable Suite Space, and (ii) if the Lease Expiration Date for the entire Premises occurs on other than the last day of a calendar month, the Base Rent for the partial month for the entire Premises shall be prorated on the basis of the number of days during such applicable month and paid on or before the first (1st) day of such partial month. If the Term of this Lease Term commences or ends on other than the first or the last day of an Expense Year, the Excess for the partial Expense Year calculated as provided in such year.
(b) Notwithstanding anything herein Section 5.3 above shall be prorated on the basis of the number of days during the applicable Expense Year. All payments received by Landlord from Tenant shall be applied to the contraryoldest payment obligation owed by Tenant to Landlord. No designation by Tenant, no Base Rental either in a separate writing or on a check or money order, shall modify this Section or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the income or profits derived from the lease, use or occupancy of the Premises. If Landlord determines that all or any portion of the Rent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord’s Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease will constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant’s Share payment obligations or other liabilities, or reduce the obligations of Operating Costs shall be due for the first five (5) months of the Lease TermLandlord, under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Fusion-Io, Inc.)
Payment of Rent. 7.1 Subtenant shall make payment of all forms of rent (awhich shall be deemed to include base rent, additional rent and all other charges required to be paid by the tenant under the Xxxxxxxxx, regardless of whether to the Overlandlord) Except required to be paid by tenant under the Xxxxxxxxx directly to the person, entity or party to whom the Xxxxxxxxx requires such payment to be made. However, if the Overlandlord refuses to accept payments directly from the Subtenant, then Subtenant shall make payment of the same to Sublandlord who will, after receipt, promptly make payment of the same to the Overlandlord. All such payments shall be made by Subtenant no later than the date when the Xxxxxxxxx requires such payment to be made by the tenant thereunder except that if the Overlandlord refuses to accept payments directly from the Subtenant, then Subtenant shall make such payments to Sublandlord no later than five (5) days prior to the date when the Xxxxxxxxx requires such payment to be made by the tenant thereunder and Sublandlord shall, after receipt, but subject to Subtenant's timely compliance with the foregoing, make payment of the same to the Overlandlord within the time required by the Xxxxxxxxx. Without limiting any of the foregoing, Subtenant shall, upon request from Sublandlord, provide evidence to the Sublandlord that all such payments have been made.
7.2 All sums, charges, costs, expenses and payments which this Sublease requires the Subtenant to pay (regardless of to whom) shall be deemed rent hereunder and Sublandlord shall have all of the rights and remedies afforded to the Overlandlord pursuant to the Xxxxxxxxx in the case of the non-payment of basic rent, all rights and remedies afforded to the Sublandlord pursuant to this Sublease for failure to pay the same, as otherwise expressly provided in well as all rights and remedies afforded to landlords under law or at equity.
7.3 With respect to sums and charges required to be paid by the Subtenant hereunder, which sums and charges are not required by the Xxxxxxxxx to be paid by the tenant thereunder, if this LeaseSublease does not set forth a time frame for the payment of such sums and charges, then the Rent same shall be due and payable to Landlord in advance in monthly installments on the first within fifteen (1st15) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, days after demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Payment of Rent. (a) Except All rent shall be paid in lawful money of the United States of America without deduction, diminution, set-off, counterclaim or prior notice or demand, at the office of Landlord as otherwise expressly provided in this LeaseSection 1h hereof or at such other place as Landlord may hereafter designate in writing, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each every calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease . All such payments shall be made by good checks payable to Landlord or to such other person person, firm or at such other address corporation as Landlord may from time to time hereafter designate in writing. Landlord may, at its option, xxxx No payment by Tenant for Rent, but no delay or failure receipt and acceptance by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if lesser amount than the check is not duly honored with good funds. The Monthly Base Rent or Additional Rent shall be paid deemed to be other than part payment of the full amount then due and payable; nor shall any endorsement or statement on any check or any letter accompanying any check, payment of Rent or other payment, be deemed an accord and satisfaction; and Landlord may accept, but is not obligated to accept, such part payment without notice, demand, abatement, deduction prejudice to Landlord's right to recover the balance due and payable or offset, except as otherwise expressly to pursue any other remedy provided in this LeaseLease or by law. If Landlord shall at any time or times accept Rent after it becomes due and payable, such acceptance shall not excuse a subsequent delay or constitute a waiver of Landlord's rights hereunder. Any Rent owed by Tenant to Landlord, including without limitation Annual Base Rent, Additional Rent, Tenant's Pass-Through Costs and Late Charges, which is not paid within five (5) days after the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for date such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due shall bear interest from the due date at a rate equal to the prime rate on corporate loans quoted in the Wall Street Journal (i.e., the sixth [6th] full month of the Lease Term"Prime Rate") plus an estimated monthly four percent (4%). In addition, if any amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery Rent required to be paid by Tenant to Landlord of an executed copy under the terms of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first is not paid within five (5) months days after the date such payment is due, then in addition to paying the amount of Rent then due, Tenant shall pay to Landlord a late charge (the "Late Charge") equal to five percent (5%) of the Lease Termamount of Rent then required to be paid. Payment of such Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and said check is returned by the bank unpaid, Tenant shall pay to Landlord the sum of One Hundred Dollars ($100.00) to cover the costs and expenses of processing the returned check, in addition to the Rent payment and any other charges provided for herein. Any interest, Late Charge and other amounts charged hereunder shall constitute Additional Rent.
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Payment of Rent. The Rent provided for in this Article 4 shall be paid by the Tenant as follows:
(a) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Annual Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than equal consecutive monthly instalments in advance of the first (1st) day of each and every month during the Term. The first monthly instalment of the Annual Rent shall be paid by the Tenant on the Commencement Date of the Term. Where the Commencement Date of the Term is the first day of a month, such instalment shall be in respect of such month; where the Commencement Date of the Term is not the first day of a calendar month, then the Base Rental Annual Rent for such partial the period from the Commencement Date of the Term to the first day of the next ensuing calendar month shall be prorated pro-rated on a per diem basis and paid at the rental rate applicable during on the first full day of such month and the instalment of the Lease Annual Rent paid upon the Commencement Date of the Term for which a payment shall be in respect of rent is due. The Base Rental the Annual Rent for the first full calendar month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated ; thereafter in either case subsequent monthly amount of Tenant’s Share of Operating Costs described instalments shall each be in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than advance on the first day of a each ensuing calendar year, month during the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.Term. Additional Rent Payments
(b) Notwithstanding anything herein The amount of Additional Rent pursuant to section 4.01 (b) which the Tenant is to pay shall be estimated by the Landlord for such period as the Landlord may determine. The Tenant agrees to pay to the contraryLandlord such amount in monthly instalments, no Base Rental or Tenant’s Share of Operating Costs shall be due in advance during such period on the dates and at the times for the first five (5) months payment of the Lease Term.Annual Rent provided for in this Lease. As soon as
Appears in 1 contract
Samples: Net Lease Agreement (Pivotal Corp)
Payment of Rent. (a) Except Concurrently with the execution of this Lease by Tenant, Tenant shall pay to Landlord the amount set forth in Section N of the Summary as otherwise expressly provided prepayment of the first installment of Base Monthly Rent due after any abatement period. All Rent required to be paid under this Lease in this Lease, the Rent monthly installments shall be due and payable paid to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term. All Rent shall be paid in lawful money of the United States, without any abatement, deduction or offset whatsoever (except as specifically provided herein), and without any prior notice or demand therefor. Rent shall be paid to Landlord pursuant to the electronic wiring instructions set forth in Section Q of the Summary, or, at Landlord’s address as provided on the signature page of this Lease 's option, pursuant to such other electronic wiring instructions or to such other person party or at such other address place as Landlord may designate from time to time designate in writing. Landlord may, at its option, xxxx by notice to Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from accordance with the obligation to pay the Base Rental on the first (1st) day provisions of each month as provided herein. All payments shall be in the form Section 21.5 of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If any Rent payment date (including the Lease Term commences Commencement Date) falls on other than the first (1st) a day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of such month, or if any payment of Rent is for a calendar yearperiod which is shorter than one month, the Tenant’s Share of Operating Costs Rent for any fractional month shall be prorated accrue on a daily basis for the period from the date such year according payment is due to the number end of days such calendar month or to the end of the Lease Term in such year.
(b) Notwithstanding anything herein at a rate per day which is equal to 1/365 of the contrary, no Base Rental applicable annual Rent. All other payments or Tenant’s Share adjustments required to be made under the terms of Operating Costs this Lease that require proration on a time basis shall be due for prorated on the first five same basis. Landlord shall have the right, upon at least ten (510) months days' prior written notice to Tenant (i) to change the name of the depository for receipt of any payment of Rent made by means of a federal funds wire transfer or such other method of electronic funds transfer ("Electronic Payment"), and (ii) to discontinue payment of any sum due from Tenant to Landlord under this Lease Termby Electronic Payment.
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Payment of Rent. (a) The term "Rent" shall mean, collectively, the Base Rental, the Tenant's Share of the Basic Operating Costs as provided in Section 6 which exceed the Base Amount, the cost of lighting in excess of Building Standard or Miscellaneous Power in excess of the Building Standard Electrical Design Load as provided in Section 9(a)(6), after-hours HVAC and other services as provided in Section 9(a)(9), and all other sums of money becoming due and payable to Landlord under this Lease. Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s 's address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writingwriting upon not less than ten (10) days notice. Landlord may, at its option, xxxx Tenant bill Xxxant for Rent, but no delay or failure by Landlord in providing such a xxxx shall bill xxxll relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the installment of Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described as provided in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant1(b). If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s 's Share of the Basic Operating Costs which exceed the Base Amount shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
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Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the The Annual Base Rent shall be due and payable to Landlord paid in equal consecutive monthly instalments in advance in monthly installments on the first (1st) day of each calendar and every month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term, at Landlord’s address as provided The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on the signature page of this Lease or to such other person or at such other address as that estimate. The Landlord may from time to time designate during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in writing. Landlord may, at its option, xxxx such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for Rent, but no delay the unexpired period of such Lease Year or failure by Landlord in providing of such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form part only of a check unless otherwise agreed Lease Year, so that after the Tenant is credited with the appropriate amounts paid by Landlordthe Tenant in accordance with the previous estimate, provided that payment by check such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall not be deemed made if remit to the check is not duly honored with good funds. The Tenant a statement indicating the actual amount of the Additional Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on (other than the first (1stportion thereof which the Tenant has paid directly to third parties) day and of a calendar monththe Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month delivery of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearabove-mentioned statement.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Industrial Lease (Bway Corp)
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Tenant must pay Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease Notice Address or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first .
(1stb) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall must be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. .
(c) If the Lease Term commences on a day other than the first (1st) day of a calendar month, then the Base Rental Rent for such partial month shall will be prorated and paid at the rental rate applicable during the first full month of the Lease Term, and shall be payable on the first day of the calendar month following the Commencement Date. Notwithstanding anything to the contrary set forth herein, Tenant’s monthly installments of Base Rent shall be conditionally abated during the first 7 full months of the Lease Term (provided, that notwithstanding such abatement of Base Rent, all other sums due under the Lease shall be payable as provided for which a payment of rent is duein this Lease). The abatement of Base Rental Rent is conditioned upon the full performance by Tenant of all its obligations under this Lease, and if, at any time during the first 7 months of the Lease Term, an Event of Default by Tenant occurs and has not been cured within any applicable notice and cure period, then the abatement of Base Rent provided by this Section 4.1(c) shall immediately become void and Tenant shall thereupon be obligated to promptly pay to Landlord the full amount of all Base Rent abated pursuant hereto. Tenant must pay the Base Rent due for the first eighth (8th) full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by when Tenant contemporaneously with the delivery by Tenant delivers to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearLease.
(bd) Notwithstanding anything herein Together with its payment of Rent, Tenant also must pay to the contraryLandlord any applicable municipal, no Base Rental city, county, state, or Tenant’s Share of Operating Costs shall be due for the first five (5) months federal excise, sales, use or transaction privilege taxes levied or imposed against or on account of the Lease Termamounts payable by Tenant hereunder or the receipt thereof by Landlord (excluding state or federal income taxes imposed or levied against Landlord).
Appears in 1 contract
Samples: Lease Agreement (Navarre Corp /Mn/)
Payment of Rent. (a) Except as otherwise expressly provided in Concurrently with the execution of this LeaseLease by both parties, the Rent Tenant shall be due and payable pay to Landlord the amount set forth in advance Section L of the Summary as prepayment of rent for credit against the first installment(s) of Base Monthly Rent. All rent required to be paid in monthly installments (e.g., the Base Monthly Rent and installments of Tenant’s Share of Common Operating Expenses) shall be paid in advance on the first (1st) day of each calendar month during the Lease Term; provided, at Landlordhowever, that other than the monthly installments of estimated payments of Tenant’s address as provided Share of Common Operating Expenses, no installment of Additional Rent which is not to be paid on a monthly estimate basis shall be due prior to the signature page later of this Lease (i) the first day of the month after the written xxxx for the installment of Additional Rent is received by Tenant, or to such other person or at such other address as Landlord may from time to time designate in writing(ii) ten (10) Business Days after Tenant’s receipt of the written xxxx for the installment of Additional Rent. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from If Section K of the obligation to pay Summary provides that the Base Rental Monthly Rent is to be increased during the Lease Term and if the date of such increase does not fall on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then such increase shall become effective on the Base Rental for such partial month first day of the next calendar month. All rent shall be prorated and paid at the rental rate applicable during the first full month in lawful money of the Lease Term for which a payment of rent is dueUnited States, without any abatement, deduction or offset whatsoever (except as specifically provided in this Lease), and without any prior demand therefor. The Base Rental for the first full month Rent shall be paid to Landlord at its address set forth in Section Q of the Lease Term for which a payment of rent is due (i.e.Summary, or at such other place within the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of continental United States as Landlord may designate from time to time. Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant obligation to Landlord of an executed copy of this Lease and shall be applied to the payment of pay Base Rental Monthly Rent and Tenant’s Share of Common Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs Expenses shall be prorated for such year according to at the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months commencement and expiration of the Lease Term.
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Payment of Rent. If (ai) Except as otherwise expressly provided in this Leaseany installment of Minimum Annual Rent or recurring payment of Additional Rent (e.g., Tenant’s Proportionate Share of Basic Operating Charges ) is not paid within five (5) days of when the same is due or (ii) any non-recurring installment of Additional Rent (e. g. a charge for after-hours HVAC) is not paid within thirty (30) days of when the same is due, then a late charge equal to five percent (5%) of the delinquent amount shall be due and payable to assessed as liquidated damages for the additional administrative charges incurred by Landlord in advance in monthly installments on as a result of such late payment. In addition, if any Minimum Annual Rent or Additional Rent is not paid within ten (10) days after the first (1st) day of each calendar month during the Lease Termsame is due, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx charge interest thereon at twelve percent (12%) per annum or the highest legal rate, whichever is lower (the “Default Rate”) from the due date until the date received by Landlord. No payment by Tenant for Rent, but no delay or failure receipt by Landlord of lesser amounts of rent than those herein stipulated shall be deemed to be other than on account of the earliest unpaid stipulated rent. No endorsement or statement on any check or any letter accompanying any check or payment as rent shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such rent or pursue any other remedy provided in providing this Lease. Despite the foregoing, Landlord will waive such a xxxx shall relieve Tenant from the obligation to pay the Base Rental late charge and interest (i) on the first (1st) day of each month as provided herein. All payments shall be occasion during any Lease Year in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall which Tenant does not be deemed made if the check is not duly honored with good funds. The timely pay Minimum Annual Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences and/or on other than the first (1st) occasion during any Lease Year in which Tenant does not timely pay Additional Rent provided that payment is actually received by Landlord by close of the fifth (5th) calendar day after written notice is received by Tenant that the payment was not received when due and (ii) in the event the failure to pay Minimum Annual Rent or Additional Rent results from the failure of a calendar month, then wire transfer to be timely processed after Tenant has properly and timely initiated and provided the Base Rental for such partial month shall be prorated and paid at payment is actually received by Landlord by the rental rate applicable during the first full month close of the Lease Term for which a payment of rent third (3rd) day after written notice is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord received by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to that the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearwas not received when due.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the All Rent shall be due and payable to Landlord paid in advance in monthly installments on lawful money of the first (1st) day United States of each calendar month during the Lease TermAmerica without deduction, diminution, set-off, counterclaim or prior notice or demand, at Landlord’s address as 's Address for Payment of Rent provided on the signature page in Section 1 of this Lease or to such other person or at such other address place as Landlord may from time to time hereafter designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing All such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be made by good checks payable to Landlord or such other person, firm or corporation as Landlord may hereafter designate in the form writing. No payment by Tenant or receipt and acceptance by Landlord of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if lesser amount than the check is not duly honored with good funds. The Monthly Base Rent or Additional Rent shall be paid deemed to be other than partial payment of the full amount then due and payable; nor shall any endorsement or statement on any check or any letter accompanying any check, payment of Rent or other payment, be deemed an accord and satisfaction; and Landlord may accept, but is not obligated to accept, such partial payment without notice, demand, abatement, deduction prejudice to Landlord's right to recover the balance due and payable or offset, except as otherwise expressly to pursue any other remedy provided in this LeaseLease or by law. If Landlord shall at any time or times accept Rent after it becomes due and payable, such acceptance shall not excuse a subsequent delay or constitute a waiver of Landlord's rights hereunder. Any Rent owed by Tenant to Landlord, including, without limitation, Annual Base Rent, Additional Rent, Tenant's Pass-Through Costs and Late Charges (hereinafter defined), which is not paid within five (5) days after the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for date such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due shall bear interest from the due date at a rate (i.e.the "Default Rate") equal to the lesser of (i) the prime rate on corporate loans quoted in the Wall Street Journal plus four percent (4%), or (ii) the sixth [6th] full month of the Lease Term) plus an estimated monthly highest interest rate permitted by law. In addition, if any amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery Rent required to be paid by Tenant to Landlord of an executed copy under the terms of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first is not paid within five (5) months days after the date such payment is due, then in addition to paying the amount of Rent then due, Tenant shall pay to Landlord a late charge (the "Late Charge") equal to five percent (5%) of the Lease Termamount of Rent then required to be paid. Payment of such Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and said check is returned by the bank unpaid, Tenant shall pay to Landlord any and all charges assessed by the bank or payable by Landlord in connection therewith, plus the sum of One Hundred Dollars ($100.00), in addition to the Rent payment and any other charges provided for herein (including the Late Charge and interest at the Default Rate). Any interest, Late Charge and other amounts charged hereunder shall constitute Additional Rent.
Appears in 1 contract
Samples: Office Lease (KBS Real Estate Investment Trust III, Inc.)
Payment of Rent. Any Rent payable for a portion of a month shall be prorated based upon the number of days in the applicable month. Any Base Annual Rent or Additional Rent which is not paid within five (a5) Except Business Days after the same is due shall bear interest at the greater of (i) ten percent (10%) per annum, or (ii) the sum of the prime rate of interest (as otherwise expressly set forth in the Wall Street Journal, or if the prime rate is no longer being published in the Wall Street Journal, the prime rate established by a banking institution as reasonably selected by Landlord) plus four percent (4%) [the greater of the amounts set forth in clauses (i) and (ii) above shall hereinafter be referred to as the “Designated Interest Rate”], provided in no event shall the interest rate exceed the highest legal rate, from the due date until the date received by Landlord. No payment by one party or receipt by the other party of lesser amounts than those that are due and payable under this Lease shall be deemed to be other than on account of the earliest unpaid amount due. No endorsement or statement on any check or any letter accompanying any check or payment shall be deemed an accord and satisfaction, and Landlord or Tenant, as applicable, may accept such check or payment without prejudice to such party’s right to recover the balance of the amount due or pursue any other remedy provided in this Lease. In addition, in the event Base Annual Rent or Additional Rent is not paid within five (5) Business Days of its due date, Landlord, at its sole option, may assess a late charge equal to three and one-half percent (3.5%) of the Base Monthly Rent or Additional Rent, as applicable, as liquidated damages for the additional administrative charges incurred by Landlord as a result of such late payment. If Landlord receives from Tenant two or more returned or “bounced” checks in any twelve (12) month period, Landlord may require all future rent by cashier’s or certified check. Despite the foregoing, Landlord shall be due waive such interest and payable to Landlord in advance in monthly installments late charge on the first (1st) day of each calendar two (2) occasions during any twelve (12) month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease period in which Tenant does not timely pay Base Annual Rent or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Additional Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Tenant pays such installment of Base Annual Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant Additional Rent to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first within five (5) months of days after the Lease Termdate Tenant receives notice that such amount is past due.
Appears in 1 contract
Samples: Deed of Lease (Cvent Inc)
Payment of Rent. (a) Except as otherwise expressly provided As used in this Lease, "Rent" shall mean the Base Rent, the Operating Expense reimbursements pursuant to Section 5.01, Tenant's Electricity Charge pursuant to Section 5.02B, and all other monetary obligations provided for in this Lease to be paid by Tenant, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises. Tenant shall send Base Rent and other sums due hereunder in legal tender of the United States of America to Landlord. Base Rent shall be due and payable sent by wire transfer pursuant to Landlord the instructions set forth in advance in monthly installments on the first (1stSection 1.01(o) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address or pursuant to such different wiring instructions as Landlord may from time to time designate at least ten (10) days in advance in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Rent other than Base Rental on the first (1st) day of each month as provided herein. All payments Rent shall be paid in the form a manner mutually agreeable to Landlord and Tenant. Landlord and Tenant may from time to time mutually agree to an alternative manner of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good fundsof any portion of Rent. The Rent shall be paid without notice, demand, abatement, deduction deduction, or offset, offset except as otherwise may be expressly provided set forth in this Lease. If the Lease Term commences on other than the first (1st) day Upon execution of a calendar monththis Lease, then the Base Rental for such partial month Tenant shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant pay to Landlord of an executed copy of this Lease and amount equal to $172,500, which shall be applied to the payment first month's Base Rent due hereunder on the first Rental Commencement Date. Tenant shall pay to Landlord a late charge equal to five percent (5%) of Base Rental and Tenant’s Share the amount of Operating Costs, as Rent due for all Rent which is not paid on or before the case may be, fifth (5th) day following the date such amount is due. Any payments made by Tenant to Landlord hereunder shall not be deemed a waiver by Landlord for of any rights against the appropriate periods without any further notice by Tenant. If The collection of such late charge by Landlord shall be in addition to and cumulative of any and all other remedies available to such party. It is the intention of Landlord and Tenant to conform to all applicable laws concerning the contracting for, charging and receiving of interest. In the event that any payments of interest required under this Lease Term commences are ever found to exceed any applicable limits, the charging party shall credit the amount of any such excess paid by the other party against any amount owing under this Lease or ends at if all amounts owning under this Lease have been paid, the charging party shall refund to the other party the amount of such excess. Landlord and Tenant agree that Landlord shall not be subject to any time other than the first day applicable penalties in connection with any such excess interest, it being agreed that any such excess interest contracted for, charged or received pursuant to this Lease shall be deemed a result of a calendar yearbona fide error and a mistake. The obligation of Tenant to pay Rent is an independent covenant, the and no act or circumstance, whether constituting a breach of covenant by Landlord or not, shall release or modify Tenant’s Share of Operating Costs shall be prorated for such year according 's obligation to the number of days of the Lease Term pay Rent except as otherwise provided in such yearthis Lease.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Lease (I2 Technologies Inc)
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of if this Lease commences or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such ends on a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day or last day of a calendar month, then respectively, the Base Rental Rent for such partial the calendar month in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid to Landlord without offset or deduction, and the covenant to pay Rent shall be independent of every other covenant in this Lease; (iii) if, during all or any portion of any Operating Year the Building is not fully rented and occupied, Landlord may elect to make an appropriate adjustment of Expenses for such Operating Year to determine the Expenses that would have been paid or incurred by Landlord had the Building been fully rented and occupied for the entire Operating Year and the amount so determined shall be deemed to have been the Expenses for such Operating Year; (iv) any sum due from Tenant to Landlord which is not paid when due shall bear interest from the date due until the date paid at the rental annual rate applicable of eighteen percent (18%) per annum, but in no event higher than the maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to five percent (5%) of such payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant shall have the right to inspect Landlord’s accounting records relative to Expenses during normal business hours at any time within thirty (30) days following the first full month furnishing to Tenant of the Lease Term report setting forth the actual Expenses for which a payment of rent is due. The Base Rental for an Operating Year; and, unless Tenant shall take written exception to any item in any such report within such 30-day period, such report shall be considered as final and accepted by Tenant; (vii) in the first full month event of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy termination of this Lease and shall be applied prior to the payment determination of Base Rental and any Adjustment Rent, Tenant’s Share agreement to pay any such sums and Landlord’s obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the this Lease; and if this Lease Term commences or ends at any time on a day other than the first last day of a calendar yearOperating Year, then the Operating Expenses to be used to determine an estimated Adjustment Rent for such partial Operating Year shall be an amount equal to the Estimated Operating Expenses multiplied by a fraction, the Tenant’s Share numerator of Operating Costs which shall be prorated for such year according to the number of days during such partial Operating Year and the denominator of which shall be 365; (viii) Landlord may at any time change the fiscal year of the Building; (ix) each amount owed to Landlord under this Lease Term in such year.
(b) Notwithstanding anything herein to for which the contrary, no Base Rental or Tenant’s Share date of Operating Costs payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; and (x) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any Operating Year, Tenant shall continue to pay Adjustment Rent at the rate for the first five (5) months of the Lease Termprevious Operating Year until Landlord delivers such estimate.
Appears in 1 contract
Payment of Rent. Tenant shall pay all Base Rent and Additional Rent (adefined below) Except as otherwise expressly provided (collectively, “Rent”) to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction, at the place Landlord may designate from time to time. As used herein, “Additional Rent” means all amounts, other than Base Rent, that Tenant is required to pay Landlord hereunder. Monthly payments of Base Rent and monthly payments of “Direct Expenses” (defined in this LeaseSection 4.1) (collectively, the Rent “Monthly Rent”) shall be due and payable to Landlord paid in advance in monthly installments on or before the first (1st) day of each calendar month during the Lease Term; provided, at Landlord’s address as provided on however, that the signature page installment of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant Base Rent for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day full calendar month for which Base Rent is payable hereunder and the installment of each Direct Expenses for the first full calendar month for which such Additional Rent is payable hereunder shall be paid upon Tenant’s execution and delivery hereof. Except as otherwise provided herein. All payments shall be in the form , all other items of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Additional Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Leasewithin 30 days after Landlord’s request for payment. If the Lease Term commences on other than the first (1st) day of a Rent for any partial calendar month, then the Base Rental for such partial month shall be prorated and paid at based on the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the actual number of days of the Lease Term in such year.
month. Without limiting Landlord’s other rights or remedies, (ba) Notwithstanding anything herein to the contrary, no Base Rental if any installment of Rent is not received by Landlord or Tenant’s Share of Operating Costs shall be due for the first its designee within five (5) months business days after its due date, Tenant shall pay Landlord a late charge equal to 5% of the Lease Termoverdue amount; and (b) any Rent that is not paid within 10 days after its due date shall bear interest, from its due date until paid, at the lesser of 12% per annum or the highest rate permitted by Law; provided, however, that not more than once during each twelve (12) month period, Landlord shall give Tenant a notice of delinquency with respect to such late payment of Rent, and a five (5) day grace period before imposing such late charge and/or accruing interest on unpaid Rent. Tenant’s covenant to pay Rent is independent of every other covenant herein.
Appears in 1 contract
Samples: Office Lease (Immersion Corp)
Payment of Rent. (aAll Base Monthly Rent and Additional Rent shall be paid in lawful money of the United States, without any abatement, deduction, or offset for any reason whatsoever, to Landlord at such address as Landlord may designate from time to time. Should Tenant make any payment in which the Bank notifies Landlord that there are insufficient funds, or that the account is closed, or should Tenant not make any payment in a timely manner as set forth in Paragraph 3.4, Tenant shall, after written notice from Landlord, pay all future payments of Rent and any Additional Rent with a money order, cashier's check, or certified funds. In the event that the commencement and/or expiration dates occur on any date other than the first or last day of the month respectively, Tenant's obligation to pay Base Monthly Rent and all Additional Rent shall be prorated to the actual occurrence dates for the month(s) in which the commencement and/or expiration dates of the Lease so occur. Except as otherwise expressly provided in this Leaseset forth herein, Tenant shall make all Rent and Additional Rent payments online via the Rent shall be due and payable to Landlord in advance in monthly installments on the first Landlord's online Tenant Web Access (1stTWA) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease portal (or to such other person or at such other address online method as Landlord may from time require upon the giving of at least thirty (30) days’ notice to time designate in writingTenant), including tenant’s initial Rent and Security Deposit payment. Landlord mayreserves the right to block any such online payments in the event that Tenant is in default hereunder (in such case, at its option, xxxx amounts payable by Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall must be tendered in the form of a check unless otherwise agreed by Landlordmoney order, provided that payment by check shall not be deemed made if the check is not duly honored with good cashier’s check, or certified funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease) and/or to restrict Tenant’s ability to tender any partial payments utilizing any such online portal. If the Lease Term commences on other than the first (1st) day Tenant fails to make payments online, Tenant shall incur an additional charge of a calendar month, then the Base Rental $40 for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearadded processing.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Lease Agreement
Payment of Rent. The following provisions shall govern the payment of Rent and Adjustment Reimbursables: (ai) Except as otherwise expressly provided if this Lease commences or ends on a day other than the first day or last day of a calendar month, respectively, the Rent and Adjustment Reimbursables for the month in which this Lease so begins or ends shall be prorated accordingly; (ii) all Rent and Adjustment Reimbursables shall be paid to Landlord without offset or deduction, and the covenant to pay Rent and Adjustment Reimbursables shall be independent of every other covenant in this Lease, the and all Rent and Adjustment Reimbursables shall be due and payable to Landlord in advance in monthly installments on the first and addressed as follows: Matrix Crossroads, LLC 1000 Xxxxxxxx Xxxxxxx Xxxxx 00, Xxxxxxxxx, X.X. 00000 (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may subsequently designate); (iii) any sum due from Tenant to Landlord which is not paid when due shall bear interest from the date due until the date paid at the annual rate of four percentage points above the Prime Rate then most recently announced by The Wall Street Journal, from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Renteffect, but in no delay event higher than the maximum rate permitted by law (the “Interest Rate”); and, in addition, Tenant shall pay Landlord a late charge for any Rent or failure by Landlord in providing Adjustment Reimbursable payment which is paid more than five days after its due date equal to five percent (5%) of such a xxxx shall relieve Tenant from payment; (iv) if changes are made to this Lease or the obligation to pay Property changing the Base Rental on the first (1st) day number of each month as provided herein. All payments shall be square feet contained in the form of a check unless otherwise agreed by LandlordPremises or in the Property, provided that payment by check Landlord shall not be deemed made if make an appropriate adjustment to Tenant’s Property Share and Tenant’s Single-Story Building Share, as applicable; (v) in the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month event of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy termination of this Lease and shall be applied prior to the payment determination of Base Rental and any Adjustment Reimbursables, Tenant’s Share agreement to pay any such sums and Landlord’s obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination of Operating Costs, as this Lease; (vi) no adjustment to the case Rent by virtue of the operation of the adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Base Rent shown on the Schedule; (vii) Landlord may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than change the first day fiscal year of a the Property; (viii) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; and (ix) if Landlord fails to give Tenant an estimate of Adjustment Reimbursables prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Reimbursables at the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due rate for the first five (5) months of the Lease Termprevious calendar year until Landlord delivers such estimate.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this LeaseTenant shall pay, the Rent shall be due and payable without prior notice or demand, to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on agent at the signature page management office of this Lease or to such other person the Project or at such other address place as Landlord may from time to time designate in writing. Landlord may, by a check for currency which, at its optionthe time of payment, xxxx Tenant is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent”) as set forth in Section 4 of the Summary, but no delay payable in equal monthly installments as set forth in Section 4 of the Summary, in advance, on or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on before the first (1st) day of each and every calendar month as provided herein. All payments shall be in during the form of a check unless otherwise agreed by LandlordLease Term, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, any setoff or deduction or offsetwhatsoever, except as otherwise may be expressly provided set forth in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental Rent for the first full month of the Lease Term for which a payment of rent is due (i.e., shall be paid at the sixth [6th] full month of the Lease Term) plus an estimated monthly amount time of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy execution of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by TenantLease. If any Rent payment date (including the Lease Term commences or ends at any time Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a calendar yearperiod which is shorter than one month, the Tenant’s Share of Operating Costs Rent for any fractional month shall be prorated accrue on a daily basis for the period from the date such year according payment is due to the number end of days such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant assumes the risk of the foregoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof (absent a judicial order providing for such termination or cancellation), or to assert any defense in such year.
the nature of constructive eviction (bin which Tenant asserts that its use and enjoyment of the Premises has been disrupted due to any entry by Landlord of the Premises in accordance with Section 27.2 of this Lease, any renovation of the Project or any casualty or condemnation affecting the Project) Notwithstanding anything to any action seeking to recover rent (except to the extent Tenant’s obligation to pay Base Rent may be expressly abated pursuant to Articles 11 and 13 of this Lease). Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of if this Lease commences or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such ends on a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first last day of a calendar year, respectively, the Tenant’s Share of Operating Costs Rent for the year in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) except as may be specifically provided to the contrary elsewhere in this Lease, all Rent shall be paid to Landlord without offset or deduction, and the covenant to pay Rent shall be independent of every other covenant in this Lease; (iii) if during all or any portion of any year the Building is not fully rented and occupied, Landlord shall make an appropriate adjustment of variable Expenses for such year according to determine the number of days of Expenses that would have been paid or incurred by Landlord had the Lease Term in Building been fully rented and occupied for the entire year and the amount so determined shall be deemed to have been the Expenses for such year.
; (biv) Notwithstanding anything herein any sum due from Tenant to Landlord which is not paid when due shall bear interest from the contrarydate due until the date paid at the annual rate of two percentage (2%) points above the rate then most recently announced by The First National Bank of Chicago, NBD, as its corporate base lending rate, from time to time in effect, but in no Base Rental or Tenant’s Share of Operating Costs event higher than the maximum rate permitted by law (the "Default Rate"); and, in addition, Tenant shall be due pay Landlord a late charge for the first any Rent payment which is paid more than five (5) days after its due date equal to five percent (5%) of such payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant's Proportionate Share; (vi) Tenant shall have the right to inspect Landlord's accounting records relative to Expenses and Taxes during normal business hours at any time within thirty (30) days following the furnishing to Tenant of the annual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such thirty (30) day period, such statement shall be considered as final and accepted by Tenant; (vii) in the event of the termination of this Lease prior to the determination of any Adjustment Rent, Tenant's agreement to pay any such sums and Landlord's obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination of this Lease; (viii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Base Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the Building; (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; and (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent, at the rate for the previous calendar year until Landlord delivers such estimate, at which time Tenant shall pay retroactively the increased amount for all previous months of the Lease Termsuch calendar year.
Appears in 1 contract
Samples: Office Space Lease (Mdsi Mobile Data Solutions Inc /Can/)
Payment of Rent. On or before the date which is five (a5) Except business days after the date Landlord notifies Tenant in writing that Landlord has received Original Landlord Consent (which notice shall contain evidence reasonably satisfactory to Tenant of receipt of Original Landlord Consent), Tenant shall deposit with Landlord a deposit (the "Deposit"), to be used exclusively for the payment of all of Tenant's obligations for Rent (the term "Rent" shall be deemed to include without limitation obligations for Additional Rent and any other payments due by Tenant) under the Lease for the period between the First Amendment Effective Date and the Effective Termination Date, and as otherwise expressly provided in this Lease, the Rent set forth herein. The Deposit shall be due and payable to Landlord in advance in monthly installments on the first (1st) day Letter of each calendar month during the Lease TermCredit Amount, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writinghereinafter defined. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments The Deposit shall be in the form of a check unless otherwise agreed an unconditional and irrevocable letter of credit (the "Letter of Credit"): (i) substantially in form attached hereto as Exhibit A, (ii) naming Landlord as beneficiary, (iii) expressly allowing Landlord to draw upon it at any time from time to time by delivering to the issuer notice that Landlord is entitled to draw thereunder, (iv) issued by Deutsche Bank or another FDIC-insured financial institution satisfactory to Landlord, provided that payment (v) redeemable by check shall not be deemed made if presentation of a sight draft in the check is not duly honored with good fundsstate of California, and (vi) having an expiration date of March 31, 2004. The Rent "Letter of Credit Amount" shall be paid without notice$4,130,000.00, demandreduced by the amount of any payments which Tenant pays, abatementor has paid, deduction or offsetto Landlord on account of Rent for the period commencing as of June 1, except as otherwise expressly provided in this Lease2003 and ending on the date Tenant delivers the Letter of Credit to Landlord. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month The Deposit shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, held by Landlord for the appropriate periods payment of Rent under the Lease. Tenant shall continue to be responsible for the payment of its utilities as provided in the Lease. Monthly, on or after the day that Basic Annual Rent is due and payable by Tenant under the Lease, Landlord shall draw from the Letter of Credit an amount equal to Tenant's obligations in respect of Rent (with Rent being Basic Annual Rent and Additional Rent under the Lease, including without limitation any further notice True-Up Payments, as defined in Section 3(F) above) for such month. The Deposit is not intended to be a security deposit. Nevertheless, Tenant hereby waives the provisions of any law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by TenantTenant or to clean the Premises, it being agreed that Landlord may draw upon the Letter of Credit for the payment of Rent and other charges payable under the Lease, and the Termination Payment, as hereinafter defined. If Tenant exercises the Termination Option, Tenant shall have no further obligation to pay Rent beyond the amount of the Deposit, except as expressly set forth herein, whether or not the Deposit is for any reason sufficient to pay for such obligations. If Tenant elects to exercise the Termination Option, then as of the Effective Termination Date, Landlord shall have the right to draw from the Letter of Credit the full remaining amount of the Letter of Credit, which amount shall be deemed to be Additional Rent under the Lease Term commences or ends at any time other than the first day payable in consideration of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days 's exercise of the Lease Term Termination Option. If Tenant does not elect to exercise the Termination Option, then Landlord shall continue to draw monthly Rent from the Deposit until the Deposit is exhausted, and Tenant shall thereafter pay Rent as set forth in such yearthe Lease.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Lease Agreement (Lion Bioscience Ag)
Payment of Rent. (aA) Except The Rent shall be paid during the Term to Landlord or to the duly authorized agent of Landlord at such address set forth in the Basic Lease Provisions or as otherwise may be designated from time to time by Landlord. If the Commencement Date is other than the first day of the month, any Rent provided for shall be prorated accordingly in the first partial calendar month of the Term.
(B) Tenant covenants to pay when due, as Additional Rent, all financial obligations expressly undertaken by Tenant, including but not limited to, the cost of any improvements, alterations or changes made by Landlord at Tenant’s request, and to reimburse Landlord within fifteen (15) business days of demand therefor any and all sums Landlord may advance for or on account of any of these obligations or expenses.
(C) Tenant shall pay the Rent as provided in this Lease, without deduction, counterclaim or set-off whatsoever, and except as expressly provided in this Lease, without any obligation on Landlord to demand payment. Without limiting the generality of the foregoing, and notwithstanding any provision of this Lease to the contrary, in no event will Tenant be entitled to any abatement, deferral or other accommodation with respect to Rent due to any now existing or hereafter arising viral outbreak, epidemic affecting New Hanover County, NC or national pandemic or to any quarantine, stay-at-home, shelter-in-place or similar orders. Any Rent, or any installment thereof, not paid by the fifth (5th) business day after the due date thereof shall be considered delinquent and subject to a late payment charge, for each occurrence of delinquency, of five percent (5%) of the Rent overdue and payable; provided, however, that for Landlord to be entitled to receive a late payment charge for the first late payment of Rent in any twelve (12) month period, Landlord shall have to notify Tenant of the late Rent and allow five (5) days to elapse after such notice is received or deemed received by Tenant hereunder without payment of such amount by Tenant; provided, further, that (i) the first installment of Basic Rent and Tenant’s Proportionate Share of Expenses due on the Partial Commencement Date, if applicable, will not be deemed late unless not paid on or before the thirtieth (30th) day after the Partial Commencement Date, and (ii) the first installment of Basic Rent and Tenant’s Proportionate Share of Expenses due on the Commencement Date shall not be late unless not paid on or before the thirtieth (30th) day after the Commencement Date. Any late payment charge shall be due and payable to Landlord in advance in monthly installments on with the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a next payment of rent is Rent due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Office Lease (Ncino, Inc.)
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided if this Lease commences or ends on a day other than the first day or last day of a calendar year, respectively, the Rent for the year in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid to Landlord without offset or deduction, and the covenant to pay Rent shall be independent of every other covenant in this Lease, the Rent shall be ; (iii) any sum due and payable from Tenant to Landlord in advance in monthly installments on which is not paid when due shall bear interest from the first date due until the date paid at the annual rate of two (1st2) day percentage points above the rate then most recently announced by the First National Bank of each calendar month during the Lease TermChicago as its corporate base lending rate, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Renteffect, but in no delay event higher than the maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to five percent (5 %) of such payment; (iv) if changes are made to this lease or failure by the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (v) Tenant shall have the right to inspect Landlord’s accounting records relative to Expenses and taxes during normal business hours at any time following the furnishing to Tenant of the annual statement of Rent Adjustment; and, unless Tenant shall take written exception to any item in providing any such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first statement within fifteen (1st) day of each month as provided herein. All payments 15), such statement shall be considered as final and accepted by Tenant; (vi) in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month event of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy termination of this Lease prior to the determination of any Adjustment Rent, Tenant’s agreement to pay any such sums and Landlord’s obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination of this Lease; (vii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Base Rent shown on the Schedule; (viii) Landlord may at any time change the fiscal year of the Building; (ix) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be applied due on the same date as the Rent listed on the statement showing such amount is due; and (x) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the payment beginning of Base Rental and Tenant’s Share of Operating Costsany calendar year, Tenant shall continue to pay Adjustment Rent as the case may be, by Landlord at the rate for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a previous calendar year, the Tenant’s Share of Operating Costs shall be prorated for year until Landlord delivers such year according to the number of days of the Lease Term in such yearestimate.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Office Lease (Addus HomeCare Corp)
Payment of Rent. (a) Except Sublessee hereby covenants and agrees to pay rent to Sublessor, without offset or deduction of any kind whatsoever, in the form and at the times as otherwise expressly provided in this Lease, the Rent herein specified. All rent shall be paid to Sublessor at 0000 Xxx Xxxxxx, Santa Clara, CA unless and until Sublessee is otherwise notified in writing. Rent payments in the monthly amount set forth below shall be payable monthly, in advance, due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided commencing on the signature page of this Lease Commencement Date hereof and delinquent if not paid on or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from before the obligation to pay the Base Rental on the first third (1st3rd) day of each the month throughout the Term of this Sublease. Rent for any period, which is for less than one month, shall be a pro rata portion of the monthly installment. During the period of Sublessee’s occupancy and use of the Temporary Space, Sublessee shall be permitted to use all existing furniture, as provided hereinwell as cubicles in the open office area and all the existing furniture in the private offices and conference rooms, etc. located within the Temporary Space as of the commencement date of the Sublease, at no additional rent to Sublessee. Upon the delivery of the Sublease Premises to Sublessee, Sublessee shall be permitted to use all existing furniture, as well as cubicles in the open office area and all the existing furniture in the private offices and conference rooms, etc. located within the Sublease Premises including, cabling, wiring, server rooms, chairs, phones and tables still in the space as of the delivery of the Sublease Premises to Sublessee, at no additional rent to Sublessee. All payments such furniture and equipment shall be provided to Sublessee for use in its existing “AS-IS” condition, without representation or warranty by Sublessor of any kind. Sublessor and Sublessee shall conduct a walk through of the both the Temporary Space and the Sublease Premises and prepare detailed furniture and equipment list for the Temporary Space and the Sublease Premises and attach the same to the Sublease as Exhibit E. Sublessee shall pay any fee incurred to cover costs for Sublessee moving any Sublessee furniture into the Temporary Space or the Sublease Premises or from the Temporary Space to the Sublease Premises. The Full Service Rent per month shall be as follows: 08/01/08 – 12/31/08 Free 01/01/09 – 04/23/10 $17,270 per month Rent does not include (and Sublessee shall be solely responsible for the payment of): all voice, data, telecommunications and security system services provided to the Sublease Premises, disproportionate usage of utilities; and after-hours HVAC services. Otherwise, all other costs of maintenance, repair (unless caused by the negligence of Sublessee or its agents), utilities, property taxes, Master Lessor or Sublessor insurance costs, or any other costs associated with the Subleased Premises (and Temporary Premises while applicable) incurred by Master Lessor or Sublessor shall be covered in the form Full Service Rent. Full Service Rent is inclusive of electricity and gas to the Subleased Premises; provided, however, in the event Sublessor reasonably determines that Sublessee is using a check unless otherwise agreed disproportionate amount of such electricity and / or gas, Sublessor may charge for such excess as is reasonably determined by LandlordSublessor. A disproportionate amount of electricity and gas will be any amount in excess of $0.34 per square foot annualized with an annual true-up except for the last year and then within thirty (30) days after the end of the term, with Sublessee paying any excess within thirty (30) days after being provided that payment by check shall not be deemed made if the check true-up, with copies of the utility bills and an invoice of what is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Leaseowed. If the Lease Term commences on Sublessee can show that the excess usage is due to Sublessor’s or any other than the first (1st) day of a calendar monthsublessee’s excess usage, then Sublessee will not be charged for the Base Rental excess usage. Advance rent: Concurrently with Sublessee’s execution and delivery of the Sublease, Sublessee shall pay to Sublessor the Full Service Rent payable by Sublessee for such partial month shall be prorated and paid at the rental rate applicable during the first full month of January 2009, in the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(aseventeen thousand two hundred and seventy ($17,270) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yeardollars.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Sublease Agreement (Neomagic Corp)
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of if this Lease commences or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such ends on a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day or last day of a calendar month, then the Base Rental Rent for such partial the month in which this Lease so begins or ends shall be prorated and adjusted accordingly; (ii) all Rent shall be paid to Landlord without offset or deduction, and the covenant to pay Rent shall be independent of every other covenant in this Lease; (iii) if during all or any portion of any year the Building is not fully rented and occupied, Landlord may elect to make an appropriate adjustment of Expenses and/or Taxes for such year to determine the Expenses that would have been paid or incurred by Landlord had the Building been fully rented and occupied for the entire year and the amount so determined shall be deemed to have been the Expenses and/or Taxes for such year; (iv) any sum due from Tenant to Landlord which is not paid when due shall bear interest from the date due until the date paid at the rental annual rate applicable of eighteen percent (18%) or the maximum rate permitted by law, whichever is less (the "Default Rate"); and, in addition, Tenant shall pay Landlord a late charge for any Rent payment which is paid more than five days after its due date equal to five percent of such payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant's Proportionate Share; (vi) Tenant shall have the right to inspect Landlord's accounting records relative to Expenses and Taxes during normal business hours at any time within thirty days following the first full month furnishing to Tenant of the Lease Term for which a payment annual statement of rent is due. The Base Rental for Rent Adjustment; and, unless Tenant shall take written exception to any item in any such statement within such thirty day period, such statement shall be considered as final and accepted by Tenant; (vii) in the first full month event of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy termination of this Lease prior to the determination of any Adjustment Rent, Tenant's agreement to pay any such sums and Landlord's obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination of this Lease; (viii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Base Rent set forth in Item B of the Basic Terms; (ix) Landlord may at any time change the fiscal year of the Building; (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be applied due on the same date as the Rent listed on the statement showing such amount is due; and (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the payment beginning of Base Rental and Tenant’s Share of Operating Costsany calendar year, Tenant shall continue to pay Adjustment Rent, as the case may be, by Landlord at the rate for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a previous calendar year, the Tenant’s Share of Operating Costs shall be prorated for year until Landlord delivers such year according to the number of days of the Lease Term in such yearestimate.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Standard Office Lease (Data Transmission Network Corp)
Payment of Rent. (a) Except 3.3.1 Tenant covenants and agrees to pay Base Rent and Additional Rent to, or as otherwise directed in writing by, Landlord. Tenant shall pay the Base Rent and Additional Rent promptly when due without notice or demand therefor and without any abatement, deduction or set off for any reason whatsoever unless expressly provided in this Lease.
3.3.2 In addition to any other remedies Landlord may have under this Lease, if any Base Rent or Additional Rent payable hereunder to Landlord is not paid within five (5) Business Days after the due date therefor, such overdue payment shall bear interest at the rate of seven and five-tenths percent (7.5%) per annum (the “Interest Rate”) from the thirtieth (30th) day after such due date thereof until paid, and the amount of such interest shall be Additional Rent.
3.3.3 If the Rent shall be due and payable to Landlord in advance in monthly installments Commencement Date or the Expiration Date occurs on the first (1st) a day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar yearmonth, the Tenant’s Share of Operating Costs Base Rent and all Additional Rent for the partial calendar month in which the Rent Commencement Date or the Expiration Date occurs shall be prorated and the Base Rent for such year according to the number of days of partial calendar month in which the Lease Term in such yearRent Commencement Date occurs shall be paid on the Rent Commencement Date.
(b) Notwithstanding anything herein 3.3.4 No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the Base Rent or Additional Rent shall be deemed to be other than a payment on account, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the contrary, no Base Rental balance or pursue any other remedy in this Lease or at law provided.
3.3.5 Tenant’s Share of Operating Costs shall be due for the first failure to pay Additional Rent within five (5) months Business Days after Tenant’s receipt of notice from Landlord setting forth the Lease Termamount of Additional Rent shall be considered a failure to pay Base Rent hereunder. Landlord shall be entitled to all rights and remedies provided herein and by law in connection therewith.
Appears in 1 contract
Samples: Lease Agreement
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is dueTerm. The Any such prorated Base Rental, plus the Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Basic Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Office Lease Agreement
Payment of Rent. (a) Except as otherwise expressly provided in this LeaseIf the Commencement Date does not fall on the first day of a calendar month, Rent for the first month shall be prorated on a daily basis based upon a calendar month. Rent shall be due and payable to Landlord Sublandlord in advance lawful money of the United States, in monthly installments advance, without prior notice, demand, or offset, on or before the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided hereinterm hereof. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid to Sublandlord at the rental rate applicable during the first full month of the Lease Term address specified for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described notices to Sublandlord in Section 6(a) herein14, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearbelow.
(b) Notwithstanding anything herein Subtenant recognizes that late payment of any Rent will result in administrative expenses to Sublandlord, the contrary, no Base Rental or Tenant’s Share extent of Operating Costs which additional expenses are extremely difficult and economically impractical to ascertain. Subtenant therefore agrees that if any Rent shall be due for the first remain unpaid five (5) months days after such amounts are due, the amount of such Rent shall be increased by a late charge to be paid to Sublandlord by Subtenant in an amount equal to ten (10) percent of the amount of the delinquent Rent.
(c) Upon execution of this Sublease, Subtenant shall deliver to Sublandlord the sum of Twenty Thousand Two Hundred Ten Dollars ($20,210), representing the first month's Base Rent.
(d) In the event of any casualty or condemnation affecting the Premises, Rent payable by Subtenant shall be abated hereunder, but only to the extent that Rent under the Master Lease Termis abated, and Subtenant waives any right to terminate this Sublease in connection with such casualty or condemnation except to the extent the Master Lease is also terminated as to the Premises or any portion thereof.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided On each Payment Date each Sublessee shall pay in this Leaseimmediately available funds to, or at the direction of, the Sublessor not later than 11:00 a.m. New York City time, on such Payment Date, such Sublessee's allocable portion (such amount, "Sublease Rent") of (i) all Monthly Base Rent shall be that has accrued under the AESOP I Operating Lease during the Related Month with respect to each Vehicle subleased hereunder during or prior to the Related Month and (ii) all Supplemental Rent due and payable to Landlord in advance in monthly installments under the AESOP I Operating Lease on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good fundsPayment Date. The portion of Monthly Base Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If allocable to each Sublessee will equal (i) with respect to the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs amounts described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
clause (b) Notwithstanding anything herein of the definition of Monthly Base Rent, the portion thereof that relates to the contraryparticular Vehicles subleased hereunder by such Sublessee and (ii) with respect to other amounts included in the definition of Monthly Base Rent, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months such Sublessee's Share, determined as of the Lease Termbeginning of the Related Month, of such amounts. The portion of Supplemental Rent allocable to each Sublessee will equal (i) with respect to Supplemental Rent that relates to particular Vehicles, the portion thereof that relates to the particular Vehicles subleased hereunder by such Sublessee and (ii) with respect to Supplemental Rent that does not relate to particular Vehicles, such Sublessee's Share, determined as of the beginning of the Related Month, of such amounts. "SUBLESSEE'S SHARE" means, with respect to each Sublessee, on any date of determination, a fraction expressed as a percentage, the numerator of which is equal to the sum of the Net Book Value for each Vehicle subleased by such Sublessee hereunder and the denominator of which is equal to the sum of the Net Book Value of each Vehicle leased by the Sublessor under the AESOP I Operating Lease, in each case, as of such date of determination.
Appears in 1 contract
Samples: Master Motor Vehicle Operating Sublease Agreement (Avis Group Holdings Inc)
Payment of Rent. (a) Except Tenant shall pay to Landlord, Minimum Rent in equal monthly installments, in advance on the first day of each and every calendar month as otherwise expressly provided in this LeaseSchedule "A". Tenant hereby covenants and agrees to pay to Landlord "Minimum Rent", the and other charges, as herein provided which are deemed rent hereunder and collectively herein called "Rent", without any prior demand, deduction or setoff whatsoever. Rent shall be due and payable paid to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease TermLandlord, at Landlord’s address as provided on the signature page of this Lease or to such other person 's Address, or at such other address place or person as Landlord may be designated in writing from time to time designate in writingby Landlord. Minimum Rent shall adjust as set out herein on each anniversary of the Rental Commencement Date. Any payment not received by Landlord mayby the date it is due shall be considered late and a default of the terms hereof. If Rent is not received by Landlord by ten (10) days after it is due, at its optionit shall be subject to an automatic late charge of 10% of such Rent. After default, xxxx Tenant for all such charges, along with the late Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be paid in the form of a cashier's check, certified check or money order. Acceptance of the Rent or any portion thereof without the automatic late charge shall not constitute a waiver of such charges. The payments set out herein are compensation to the Landlord for risk and effort relating to failure to make timely payment by Tenant and are not interest. In addition to the payments set out herein any amount due from Tenant to Landlord hereunder which is not paid when due shall bear interest at the highest rate of interest allowed by law (but not to exceed eighteen percent per annum) from the date due until paid unless otherwise agreed specifically provided herein, but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. If Tenant's Rent check is returned for any reason, any applicable late charge shall continue to accrue and Tenant shall be in default of its obligations hereunder. Landlord, provided that payment by 's attempt to redeposit a returned check shall not be a waiver of the default resulting from the returned check and payment shall be deemed made if received when the check is not duly honored with good fundsaccepted for payment. Returned checks must be redeemed by cashier's check or money order. In the event more than two (2) Rent checks are returned, in any 12 month period, then the next 12 Rent payments must be paid by cashier's check, certified check or money order. The Rent first rental payment date shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Leasedue on the Rental Commencement Date. If the Lease Term commences on other than the first (1st) Rental Commencement Date is a day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of the calendar month, then Tenant shall pay on the first payment date a calendar year, pro rata portion of the Tenant’s Share of Operating Costs shall be fixed Minimum Rent and Additional Rent prorated for such year according on per diem basis with respect to the number of days of the Lease Term in such yearfractional calendar month.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
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Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s 's address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is dueTerm. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s 's Share of Basic Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
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Payment of Rent. (a) Except as otherwise expressly provided Tenant shall pay, without prior notice or demand, in this Lease, accordance with Section 4.1 of the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person Summary or at such other address place as Landlord may from time to time designate in writing. Landlord may, by a check for currency which, at its optionthe time of payment, xxxx Tenant is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent”) as set forth in Section 4 of the Summary, but no delay payable in equal monthly installments as set forth in Section 4 of the Summary, in advance, on or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on before the first (1st) day of each and every calendar month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If during the Lease Term commences on other than the first (1st) day of a calendar monthTerm, then the without any setoff or deduction whatsoever. Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental Rent for the first full month of the Lease Term for which a payment of rent is due (i.e., shall be paid at the sixth [6th] full month of the Lease Term) plus an estimated monthly amount time of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy execution of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by TenantLease. If any Rent payment date (including the Lease Term commences or ends at any time Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a calendar yearperiod which is shorter than one month, the Tenant’s Share of Operating Costs Rent for any fractional month shall be prorated accrue on a daily basis for the period from the date such year according payment is due to the number end of days such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant assumes the risk of the foregoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in such year.
the nature of constructive eviction to any action seeking to recover rent (b) Notwithstanding anything but nothing in the foregoing sentence is intended to limit or impair Tenant’s right to assert a claim against Landlord for any breach by Landlord of its obligations under this Lease). Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary, no Base Rental . Nothing contained in this Section 3.1 is intended to frustrate or to impede Tenant’s Share right to assert a claim against Landlord for any breach of Operating Costs shall be due for this Lease, and if Tenant prevails in any such lawsuit, to seek any remedies available to Tenant at law, including without limitation, seeking an order from the first five (5) months of the Lease Termcourt permitting Tenant to offset against rent otherwise owed to Landlord.
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Payment of Rent. Base Sublease Rent and Additional Sublease Rent (acollectively the “Rent”) Except as otherwise expressly provided in this Lease, the Rent shall be due and is payable to Landlord in advance in equal monthly installments (the amount of monthly Rent so payable to be determined for each year by dividing the then annual Base Sublease Rent by twelve (12) in advance and by dividing the then known Additional Sublease Rent by twelve (12) and adding the two resulting quotients together) on the first (1st) calendar day of each calendar month during the Lease Sublease Term, at Landlord’s address as provided on except that the signature page first installment of Rent will be paid by Subtenant to Sublandlord upon execution of this Lease Agreement on behalf of Subtenant. To the extent that the Sublandlord’s share of the costs for Operating Expenses is modified during any year of the Sublease Term, the amount of monthly Rent payable by Subtenant shall be adjusted to take such modification into account. All Rent will be paid without notice, demand, set-off or to such other person deduction, in lawful money of the United States of America, at the address of Sublandlord for notices set forth below or at such other address place as Landlord Sublandlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Sublease Term commences begins on other than the first (1st) calendar day of a calendar monthmonth (i.e.the Effective Date), then Rent will be prorated on a per diem basis. If during the Base Rental Sublease Term, Subtenant shall fail to pay Rent within seven (7) business days of when the Rent shall be due and payable, Subtenant shall pay to Sublandlord as liquidated damages for such partial month late payment, without notice or demand by Sublandlord, a sum equal to ten percent (10%) per annum on the amount of Rent then due compounding monthly from the due date until paid in full and a $100.00 USD administrative charge. Subtenant and Sublandlord agree that such sums of liquidated damages are fair and reasonable due to the uncertainty of calculating actual damages. Provided further, however, that nothing contained in this Section 5 (c) shall be prorated deemed or construed to be a limitation of or in substitution of Sublandlord’s other rights and paid at remedies as provided under this Agreement, and Sublandlord shall have the rental rate applicable during the right to apply any monies received from Subtenant first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described to any deficiency in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental liquidated damages and Tenant’s Share any excess thereof to any item of Operating CostsRent, or any other charge, as the case Sublandlord may be, by Landlord for the appropriate periods without determine. Notwithstanding any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein provision hereof to the contrary, no Base Rental Subtenant’s liability for Rents accruing during the Sublease Term and Sublandlord’s obligation to refund overpayment of Rents paid to it by Subtenant shall survive the expiration or Tenant’s Share sooner termination of Operating Costs shall be due for the first five (5) months of the Lease Termthis Agreement.
Appears in 1 contract
Samples: Sublease Agreement (AntriaBio, Inc.)
Payment of Rent. Base Monthly Rent and Adjustments shall be due and payable, in advance, beginning on that date which is ninety (a90) Except as otherwise expressly days after the Commencement Date (the RENT COMMENCEMENT DATE); provided that one
(1) full installment of Base Monthly Rent and Adjustments totalling $24,825.33 is due and payable on the date of this Lease, such to be applied to the first installment of Base Monthly Rent and Adjustments due on the Rent Commencement Date and thereafter applied to Base Monthly Rent and Adjustments until fully applied. Any installment of Base Monthly Rent or Adjustments due for any fractional calendar month shall be prorated based upon the actual number of days in that month. If the Rent Commencement Date occurs on the first day of a calendar month, then the month in which the Rent Commencement Date occurs shall be the first complete calendar month after the occurrence of the Rent Commencement Date for purposes of determining the date upon which Base Monthly Rent adjusts. As used in this Lease, RENT shall mean the Base Monthly Rent and all other amounts provided for in this Lease to be paid by Tenant to Landlord, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises. All Rent (hereinafter defined) shall be due paid at the times and payable in the amounts provided for herein in legal tender of the United States of America to Landlord at the address specified in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease Paragraph 32 hereof or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise offset (unless expressly provided for elsewhere in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied a covenant of Tenant independent of any obligation of Landlord under this Lease. Tenant's obligation to the payment pay any installment of Base Rental and Tenant’s Share Rent shall not be deemed satisfied until such installment of Operating Costs, as the case may be, Rent has actually been received by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearLandlord.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Sublease (Mannatech Inc)
Payment of Rent. (a) Except as otherwise expressly provided in As used herein, “Rent” shall include Fixed Rent, Subtenant’s Share of Additional Rent and all other additional rent, costs, charges and expenses to be paid by Subtenant to Sublandlord pursuant to this Lease, the Sublease. Rent herein reserved or payable shall be due and payable paid at Sublandlord’s election, (i) to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at LandlordSublandlord’s address as provided on for payment of Rent set forth in the signature page of this Lease Defined Terms, or (ii) to such other person or payee and/or at such other address place as Landlord Sublandlord may designate from time to time designate in writing, in lawful money of the United States of America, as and when the same become due and payable, without demand therefor and without any deduction, set-off or abatement whatsoever, except as expressly provided otherwise in this Sublease or the Master Lease. Landlord may, at its option, xxxx Tenant for Subtenant shall be required to pay Subtenant’s Share of Additional Rent, but no delay and any additional rent payable hereunder, notwithstanding any dispute regarding such obligation, unless and until such dispute is finally resolved in favor of Subtenant (or failure Sublandlord, in any dispute relating to payments made by Landlord in providing such a xxxx shall relieve Tenant from Sublandlord under the obligation to pay Master Lease). In the Base Rental on event the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check Sublease Term shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar yearmonth or the last day of the Sublease Term is not the last day of the calendar month, the TenantFixed Rent and Subtenant’s Share of Operating Costs Additional Rent and other costs an expenses shall be appropriately prorated based on a thirty (30) day month. Additionally, Subtenant shall pay to Sublandlord, as additional rent hereunder, within twenty (20) days after written request therefor, any other payments for such year according which Sublandlord shall become responsible to Master Landlord or Sublandlord under the Master Lease or this Sublease with respect to the number Sublease Premises, including, but not limited to, additional rent arising (i) by reason of days Subtenant’s request for extraordinary services or utilities (such as replacement lighting) from Master Landlord or Sublandlord, or (ii) as a result of the Lease Term in such yearSubtenant’s Event of Default hereunder.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Payment of Rent. Annual Base Rent shall be paid: ---------------
(a) Except as otherwise expressly provided in this Leaseequal monthly installments, the Rent shall be due and payable to Landlord in advance in monthly installments advance, on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in of the form of a check unless otherwise agreed by Landlord, Term; provided that payment by check shall not be deemed made if the check is Term does not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction begin or offset, except as otherwise expressly provided in this Lease. If end on the Lease Term commences on other than the first (1st) last day of a calendar month, then the Annual Base Rental Rent for such that partial month shall be prorated and paid at by multiplying the rental rate applicable during the first full month of the Lease Term for which monthly rent by a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e.fraction, the sixth [6th] full month numerator of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, which is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease partial month included in the Term and the denominator of which is the total number of days in such year.the full calendar month; and,
(b) Notwithstanding anything herein to Landlord, at the address set forth in Section 23.2 hereof, or as Landlord otherwise may specify in writing to Tenant; provided, however, that Landlord shall have the right, by written instruction to Tenant, to require Tenant to pay any Fee Mortgage Obligations then due and payable (up to the contraryamount of the Annual Base Rent then due and payable) directly to the Fee Mortgagee, no Base Rental or Tenant’s Share and if Landlord exercises such right, the amount of Operating Costs the Fee Mortgage Debt Service (but not the Fee Mortgage Reserve Requirements) paid by Tenant directly to the Fee Mortgagee shall be due for credited against and applied toward Tenant's Annual Base Rent obligations hereunder. Tenant shall provide Landlord with a copy of each payment of any Fee Mortgage Obligation made by Tenant directly to the first five (5Fee Mortgagee concurrent with Tenant's making of such payment to the Fee Mortgagee. Landlord may rescind the rights granted Tenant under this Section 5.2(b) months of the Lease Termat any time on 30 days written notice.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this Leaseto the extent that Rent is paid via ACH, such being processed pursuant to the immediately following paragraph below, Rent shall checks are to be due and made payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease TermLandlord, at Landlord’s address as provided on the signature page of this Lease 000 X. Xxxxx Blvd., Suite 315, Winter Park, FL 32789, or to such other person person, firm or at such other address corporation as the Landlord may from time to time hereafter designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation agrees to pay the Base Rental a Ten dollar ($10.00) processing fee for submitting payment via check, cashier’s check or money order. All installments of rent are due on the first (1st) day of each month and considered late after the ( ) day of that month. If the monthly rental payments are not made by the ( ) of the month, Landlord may charge Tenant, and Tenant shall pay as provided Additional Rent, a ( %) percent late payment penalty. Any Rent not paid within thirty (30) days after the date due shall also accrue interest from the due date at a rate of one and one half percent (1.5%) per month, or the highest rate permitted by applicable Law, whichever shall be less (the “Default Rate”) until paid. If any check delivered by Tenant is dishonored by Tenant’s bank, the amount due shall be automatically deemed a late payment and treated accordingly as set forth herein. All payments In addition thereto, for each dishonored check Tenant shall pay, as Additional Rent, to Landlord a service charge of twenty-five ($25.00) dollars to cover administrative expenses as same may be adjusted from time to time. If during the term of this Lease more than two (2) of Tenant’s checks are dishonored, then Landlord, in Landlord’s sole discretion, may require all future Rent of Tenant to be paid by cashier’s check or money order only. Tenant shall also pay to Landlord any applicable sales or use tax on the charges levied under this Article. No right contained in this Paragraph shall be construed as a waiver of Landlord’s rights in the form event of a check unless otherwise agreed by Landlorddefault, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If Tenant is required to make payments of Rent and all other payments to Landlord required by the Lease Term commences on other than the first via Automated Clearing House Transfer (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described “ACH Payment”); in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously accordance with the delivery by Tenant to Landlord of an executed copy terms and conditions of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating CostsParagraph. Tenant shall, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of within fifteen (15) days of the Lease Term date of this Lease, execute and deliver to Landlord a complete Authorization Agreement in the form set forth in Exhibit I attached hereto or on such year.
(b) Notwithstanding anything herein other form as shall be reasonably requested by Landlord, together with a voided check for account verification, establishing arrangements whereby payments of the Rent and other funds are transferred by ACH Payment initiated by Landlord from an account established by Tenant at a financial institution approved by Landlord. Thereafter, Tenant shall continue to pay all rental and other obligations by ACH Payment initiated by Landlord unless otherwise directed by Landlord. Any denial or delay of a scheduled ACH Payment resulting from insufficient funds in the contrary, no Base Rental account Tenant designates for the ACH debit or any other delay resulting from Tenant’s Share of Operating Costs actions, subject to any cure period prescribed under this Lease, shall immediately and automatically be due for the first five (5) months a default of the Lease TermLease.
Appears in 1 contract
Samples: Office Lease
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the all Base Rent and Additional Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term. Rent shall be paid to Landlord at its address recited in Section 27.7, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address in the United States as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided offset in legal tender of the United States of America. The Base Rent for the first full calendar month of the Term shall be paid upon execution by Tenant of this Lease. If In addition, if the Lease Term commences or ends on other than the first (1st) or the last day of a calendar month, then the Base Rental Rent for such the partial month shall be prorated on the basis of the number of days during the applicable month and paid at on or before the rental rate applicable Lease Commencement Date. If the Term commences or ends on other than the first or the last day of a Fiscal Year, the Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated on the basis of the number of days during the first full month of the Lease Term for which a payment of rent is dueapplicable Fiscal Year. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with All payments received by Landlord by from Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a separate writing or on a check or money order, shall modify this clause or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the income or profits derived from the lease, use or occupancy of Base Rental the Premises. In the event Landlord’s Mortgagee succeeds to the Landlord’s interests under this Lease and determines that all or any portion of the Rent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord’s Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease will constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant’s Share payment obligations or other liabilities, or reduce the obligations of Operating CostsLandlord, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearunder this Lease.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this --------------- Lease, the all Base Rent and Additional Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term. Rent shall be paid to Landlord at its address recited in Section 27.7, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address in the United States as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided offset in this Leaselegal tender of the United States of America. If The Base Rent for the first full calendar month of the Lease Term shall be paid on the Commencement Date of the Lease. In addition, if the Term commences or ends on other than the first (1st) or the last day of a calendar month, then the Base Rental Rent for such the partial month shall be prorated and paid at on the rental rate applicable basis of the number of days during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenantapplicable month. If the Lease Term commences or ends at any time on other than the first or the last day of a calendar yearFiscal Year, the Tenant’s Share of Operating Costs Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated for such year according to on the basis of the number of days during the applicable Fiscal Year. All payments received by Landlord from Tenant shall be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a separate or on a check or money order, shall modify this clause or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the income or profits derived from the lease, use or occupancy of the Lease Term in such year.
(b) Notwithstanding anything herein Premises. In the event Landlord's Mortgagee succeeds to the contrary, no Base Rental Landlord's interests under this Lease and determines that all or Tenant’s Share of Operating Costs shall be due for the first five (5) months any portion of the Rent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord's Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease Termwill constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant's payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Payment of Rent. 7.1. Rent ----
(a) Except The Lessee shall pay FBTC Basic Rent and Lessor Basic Rent on the Acquisition Date. Thereafter the Lessee shall pay Basic Rent (to the extent such Basic Rent (or any component thereof) is then due and owing) on (x) each Payment Date during the Term, (y) the date required under Section 24.1(i) in connection --------------- with the Lessee's exercise of the Remarketing Option, and (z) any date on which this Lease shall terminate. The Lessee and Lessor hereby agree that amounts which would otherwise be payable by Lessee to Lessor hereunder as otherwise expressly provided in this Lease, Lessor Basic Rent are payable as interest on the Pledged Securities pursuant to the terms of the Securities Pledge Agreement and such amounts shall not constitute Rent hereunder.
(b) Rent shall be due and payable to Landlord in advance in monthly installments on lawful money of the first (1st) day of each calendar month United States and, after the occurrence and during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form continuance of a check unless otherwise agreed by LandlordCash Management Event, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without noticeby wire transfer of immediately available funds on the due date therefor from the relevant Sub-Accounts of the Cash Collateral Account, demand, abatement, deduction or offset, except as otherwise expressly provided in this Leaseto the extent funds exist therein. If With the Lease Term commences on other than exception of the first payment on the Acquisition Date of FBTC Basic Rent and Lessor Basic Rent, for which at least two (1st2) day of a calendar month, then Business Days prior written notice from the Base Rental for such partial month Lessor shall be prorated and paid at provided, the rental rate applicable during the first full month Lessor shall provide written notice of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends Basic Rent due at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first least five (5) months Business Days prior to each due date therefor; provided, however, that -------- ------- the failure of the Lease TermLessor to provide such notice shall not affect Lessee's obligations hereunder or impose liability on Lessor. Lessee shall deposit all security deposits received by it with respect to the Property into the Security Deposit Account and shall cause all relevant checks to be made payable to the name on the Security Deposit Account.
(c) So long as Cash Management Event is not continuing, Rent shall be payable by wire transfer of immediately available funds on the due date therefor as follows:
(i) Lessor Basic Rent and FBTC Basic Rent and Supplemental Rent to which the Lessor is entitled shall be payable to the Lessor at the place of payment designated in writing by the Lessor and (ii) the remainder of Basic Rent and Supplemental Rent to which the Lender is entitled shall be payable to the Lender or Lender's designee or to an account identified by the Lender of Lender's designee as set forth in Section 2.12 (b) of the Nomura Loan Agreement. ----------------
(d) Neither the Lessee's inability or failure to take possession of all or any portion of the Property when delivered by the Lessor, whether or not attributable to any act or omission of the Lessee, or for any other reason whatsoever, shall delay or otherwise affect the Lessee's obligation to pay Rent for the Property in accordance with the terms of this Lease.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided As used in this Lease, "Rent" shall mean the Base Rent, the Operating Expense reimbursements pursuant to Section 5.01, the parking rent, and all other amounts provided for in this Lease to be paid by Tenant, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises. The Rent shall be due paid at the times and payable in the amounts provided for herein in legal tender of the United States of America to Landlord in advance in monthly installments on at the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease specified above or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction deduction, or offset, offset except as otherwise may be expressly provided set forth in this Lease. If Landlord shall, at its option, have the Lease Term commences right to collect from Tenant, five cents ($.05) for each dollar ($1.00) of each installment of Rent which is not received within five (5) days after its due date for any reason whatsoever (notwithstanding any notice requirement hereunder, if any) and Tenant agrees to pay such amount immediately on other demand as liquidated damages to cover the additional costs of collecting and processing such late payments. Any payment which is fess than the first (1st) day amount of a calendar month, Rent then the Base Rental for such partial month due shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which constitute a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e.made on account thereof, the sixth [6th] full month parties hereto agreeing that the Landlord's acceptance of that payment shall not alter or impair the Landlord's rights under this Lease Term) plus an estimated monthly amount to be paid all of Tenant’s Share of Operating Costs described such amounts then due, or in Section 6(a) herein, is being deposited with Landlord by other respect. Tenant contemporaneously with acknowledges that the delivery late payment by Tenant to Landlord of an executed copy Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of this Lease which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and shall be applied to accounting charges, and such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.,
Appears in 1 contract
Samples: Lease (TaxMasters, Inc.)
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of if this Lease commences or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such ends on a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first last day of a calendar year, respectively, the Tenant’s Share of Operating Costs Rent for the year in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid to Landlord without offset or deduction, and the covenant to pay Rent shall be independent of every other covenant in this Lease; (iii) if during all or any portion of any year the Building is not fully rented and occupied, Landlord may elect to make an appropriate adjustment of Expenses for such year according to determine the Expenses that would have been paid or incurred by Landlord had the Building been fully rented and occupied for the entire year and the amount so determined shall be deemed to have been the Expenses Taxes for such year; (iv) any sum due from Tenant to Landlord which is not paid within ten (10) days after the due date for such payment shall bear interest from the date due until the date paid at the annual rate of eighteen percent (18%) per annum, but in no event higher than the maximum rate permitted by law (the "Default Rate"); and, in addition, Tenant shall pay Landlord a late charge for any Rent payment which is not paid within ten (10) days after its due date equal to five percent (5%) of such payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant's Proportionate Share; (vi) Tenant shall have the right to inspect Landlord's accounting records relative to Expenses and Taxes during normal business hours at any time within thirty (30) days following the furnishing to Tenant of the annual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such thirty (30) day period, such statement shall be considered as final and accepted by Tenant; (vii) in the event of the termination of this Lease Term in such year.
(b) Notwithstanding anything herein prior to the contrarydetermination of any Adjustment Rent, Tenant's agreement to pay any such sums and Landlord's obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination of this Lease; (viii) no Base Rental or Tenant’s Share adjustment to the Rent by virtue of Operating Costs the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Minimum Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the Building; (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent at the rate for the first five previous calendar year until Landlord delivers such estimate; and (5xii) months if, after Tenant shall have made any payment of Adjustment Rent to Landlord pursuant to Section 2(b), Landlord shall receive a refund of any portion of Taxes paid by Tenant with respect to any tax period during the Term of this Lease Termas a result of abatement of such Taxes by legal proceedings, settlement or otherwise, Landlord shall credit to Tenant Tenant's Proportionate Share of such refund (less the proportional pro rata reasonable expenses, including reasonable attorneys' fees and appraisers' fees incurred by Landlord in connection with obtaining such refund), as it relates to Taxes paid by Tenant to Landlord with respect to any such period for which a refund is obtained.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on On or before the first (1st) day of each calendar month during throughout the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by must pay Landlord in providing such a xxxx shall relieve Tenant from advance without demand or notice the obligation to pay "MONTHLY RENT INSTALLMENT" consisting of the total of (a) the monthly installment of Base Rental on the first (1st) day of each month as provided herein. All payments shall be Rent specified in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if Basic Lease Information for the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a applicable calendar month, then (b) one-twelfth (1/12th) of the Base Rental Rent Adjustment as estimated by Landlord for such partial month shall be prorated the applicable calendar year, and paid at (c) any Monthly Parking Charge. On Tenant's execution of this Lease, Tenant must pay Landlord one (1) month's Base Rent in the rental rate applicable during amount of the monthly installment of Base Rent in effect for the first full calendar month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenantfirst full Monthly Rent Installment. If the Lease Term commences or ends at any time Commencement Date falls on other than the first day of a calendar yearmonth, then on the Tenant’s Share Commencement Date Tenant must pay Landlord a prorated portion of Operating Costs shall be prorated for such year according to one (1) month's Monthly Rent Installment based on the number of days of elapsed during the Lease Term in that month. All sums of money payable by Tenant to Landlord pursuant to this Lease constitute rent, and all such yearsums, together with the Monthly Rent Installments, are referred to generically in this Lease as "RENT.
(b) Notwithstanding anything herein " Except as expressly stated to the contrarycontrary in this Lease, no Base Rental all Rent is payable to Landlord without abatement, set-off, or Tenant’s Share of Operating Costs shall be due for the first five counterclaim at Landlord's Notification Address (5) months of the Lease Termor at any other address that Landlord may designate in writing from time to time).
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this LeaseAll Base Rent, the Percentage Rent, Additional Rent and other sums shall be due paid to Landlord without demand and without deduction, set-off, claim or counterclaim of any nature whatsoever which Tenant may have or allege to have against Landlord. All such Rent and other sums shall be paid to Landlord in legal tender of the United States in accordance with Section 1.1(n). Except to the extent that Rent is paid via ACH, such being processed pursuant to the immediately following paragraph below, Rent checks are to be made payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Termat 000 X. Xxxxx Blvd, at Landlord’s address as provided on the signature page of this Lease Winter Park, FL 32789, or to such other person person, firm or at such other address corporation as the Landlord may from time to time hereafter designate in writing. Landlord mayTenant agrees to pay a Ten dollar ($10.00) processing fee for submitting payment via check, at its cashier’s check or money order.The obligation of Tenant to pay Rent is independent of any other covenant, agreement, term or provision of this Lease. At Landlord’s option, xxxx Tenant for Rentshall make payments of Rent and all other payments to Landlord required by the Lease via Automated Clearing House Transfer (“ACH Payment”); in accordance with the terms and conditions of this Paragraph. If Landlord shall elect to have payments made by ACH Payment, but no delay or failure by Landlord in providing shall provide notice to Tenant of same and Tenant shall, within fifteen (15) days of the date of such notice from Landlord, execute and deliver to Landlord a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be complete Authorization Agreement in the form of a check unless otherwise agreed set forth in Exhibit I attached hereto or on such other form as shall be reasonably requested by Landlord, provided that payment together with a voided check for account verification, establishing arrangements whereby payments of the Rent and other funds are transferred by check ACH Payment initiated by Landlord from an account established by Tenant at a financial institution approved by Landlord. Thereafter, Tenant shall not be deemed made if continue to pay all rental and other obligations by ACH Payment initiated by Landlord unless otherwise directed by Landlord. Any denial or delay of a scheduled ACH Payment resulting from insufficient funds in the check is not duly honored with good funds. The Rent shall be paid without noticeaccount Tenant designates for the ACH debit or any other delay resulting from Tenant’s actions, demand, abatement, deduction or offset, except as otherwise expressly provided in subject to any cure period prescribed under this Lease. If the Lease Term commences on other than the first (1st) day of , shall immediately and automatically be, a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month default of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearLease.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Retail Lease Agreement
Payment of Rent. Lessee shall pay to Lessor as Monthly Rent for the above Equipment the sum of Dollars (a$ ) Except as otherwise expressly provided in this Lease, each month for the Rent shall first ( ) months; Dollars ($ ) each month for the subsequent ( ) months; and Dollars ($ ) each month for the final ( ) months. Payment will be due and payable to Landlord made in advance in monthly installments on or before the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term, or any extensions thereof. Rental payments for Months One (1) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(aand Twenty-Four (24) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy are due upon signing of this Lease Schedule with the rental payment for the first month being applied to the rent payable for the period between the date of delivery of the Equipment and the Commencement Date, with the balance of such first month’s payment if any, applied to the rent for the month beginning with the Commencement Date (collectively, the “Advance Rentals”). Payment of the Advance Rentals shall be irrevocable, shall be deemed to have been earned by Lessor immediately upon Lessor’s receipt thereof, and shall be applied immediately to satisfy Lessee’s obligations to make such payment under this Lease. The Advance Rentals shall not be refundable to Lessee under any circumstances, including (without limitation) any termination of this Lease for any reason prior to the payment end of Base Rental its scheduled term in accordance with the terms hereof. In the event the term of this Lease does not commence for any reason whatsoever, the Advance Rentals shall be retained by Lessor not as a penalty but as liquidated damages to cover Lessor’s administrative expenses in processing the application for such Lease. Lessee shall, upon Lessor’s demand, promptly pay or reimburse Lessor for all documentation and Tenantadministrative fees and expenses relating to the Equipment and this Lease, including (without limitation) Lessor’s Share standard documentation fees, UCC and other search fees, UCC filing fees, and other related fees, costs and expenses. Payment of Operating Costs, all rentals and other amounts payable hereunder shall be made to Lessor as specified in Section 14 of the case may be, by Landlord for the appropriate periods without any further notice by TenantMaster Equipment Lease. If delivery of the Lease Term commences or ends at any time Equipment takes place on other than the first day of a calendar yearmonth, the Tenant’s Share of Operating Costs Rent for such partial first month shall be prorated for such year according to the amount obtained by multiplying the following: Fraction of Monthly Rent as set forth above times the number of days remaining in such partial first month: provided, however, that (a) if less than all of the Lease Term in Equipment is delivered prior to the Commencement Date, then Lessee shall pay Rent to the Lessor for the period between such year.
date of delivery and the Commencement Date, which Rent for each full month of such period shall be determined by multiplying by a fraction whose numerator shall be the cost of the Equipment so delivered and whose denominator shall be the total cost of all of the Equipment, and (b) Notwithstanding anything herein if the date of Lessee’s written acceptance of delivery of all of the Equipment is prior to the contraryCommencement Date, no Base Rental or Tenant’s Share then Lessee shall pay Rent to Lessor for the period between such acceptance date and the Commencement Date, which Rent for each full month of Operating Costs such period shall be due for determined by multiplying by a fraction whose numerator shall be the first five (5) months cost of the Lease TermEquipment delivered as of the acceptance date and whose denominator shall be the total cost of all of the Equipment.
Appears in 1 contract
Payment of Rent. The following provisions shall govern the payment of Rent: (ai) Except as otherwise expressly provided in this Lease, the Tenant shall pay Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on described in the signature page of this Lease Schedule (Attention: Accounting), or to such other person party or at to such other address as Landlord may from time hereafter designate by written notice to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first Tenant; (1stii) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences or ends on a day other than the first (1st) day or last day of a calendar month, then Rent for the Base Rental for such partial month in which the Term so begins or ends shall be prorated based upon the number of days in the applicable month;
(i) Expenses and Taxes shall be prorated for any partial calendar year within the Term based upon the ratio that the number of days in such partial calendar year bears to 365; (iv) except as otherwise provided in this Lease, (a) all Rent shall be paid at to Landlord without demand, offset or deduction, and (b) the rental rate applicable during the first full month covenant to pay Rent shall be independent of the Lease Term for which a every other covenant in this Lease; (v) any Rent payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery owing by Tenant to Landlord of an executed copy of this Lease which is not paid when due shall bear interest from the date due until the date paid at a rate (the “Default Rate”) equal to one and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costsone-half percent (l’A%) per month, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other but in no event higher than the first day of maximum rate permitted by applicable Law. In addition, Tenant shall pay Landlord a calendar year, the Tenant’s Share of Operating Costs shall be prorated late charge for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first any Rent payment which is paid more than five (5) months days after its due date equal to five percent (5%) of the amount of such Rent payment (but not less than $ 150), provided that, with respect to the first and second delinquency in any calendar year, no late charge shall be due unless Tenant fails to pay the delinquency within five (5) days after written notice of such delinquency is given to Tenant; (vi) if modifications are made to the Property changing the number of leasable square feet contained in the Property, then Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share of Expenses and Tenant’s Proportionate Share of Taxes; (vii) Tenant’s agreement to pay any underpayment of Tenant Reimbursement Amount for the calendar year in which the Term ends, and Landlord’s obligation to refund any overpayments of Tenant Reimbursement Amount for the calendar year in which the Term ends shall survive the end of the Term; (viii) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due within ten (10) days after Tenant receives a statement or invoice showing such amount is payable; (ix) if Landlord fails to give Tenant an estimate of Tenant Reimbursement Amount prior to the beginning of any calendar year or partial calendar year within the Term, then Tenant shall continue to pay estimated Tenant Reimbursement Amount at the rate for the previous calendar year until Landlord delivers such estimate; and (x) Landlord shall have the right to apply payments received from Tenant pursuant to this Lease (regardless of Tenant’s designation of any contrary application) to satisfy any obligations of Tenant hereunder in the order in which those obligations became or will become due.
Appears in 1 contract
Payment of Rent. (a) Except All Rent shall be paid in lawful money of the United States of America without deduction, diminution, set-off, counterclaim or prior notice or demand, at the office of Landlord as otherwise expressly provided in Section 1.i. hereof or at such other place as Landlord may hereafter designate in writing, on the first day of every calendar month during the Term. All such payments shall be made by good checks payable to Landlord or such other person, firm or corporation as Landlord may hereafter designate in writing. No payment by Tenant or receipt and acceptance by Landlord of a lesser amount than the Monthly Base Rent or Additional Rent shall be deemed to be other than partial payment of the full amount then due and payable; nor shall any endorsement or statement on any check or any letter accompanying any check, payment of Rent or other payment, be deemed an accord and satisfaction; and Landlord may accept, but is not obligated to accept, such partial, payment without prejudice to the Landlord’s right to recover the balance due and payable or to pursue any other remedy provided in this Lease, the Lease or by law. If Landlord shall at any time or times accept Rent shall be after it becomes due and payable payable, such acceptance shall not excuse a subsequent delay or constitute a waiver of Landlord’s rights hereunder. Any Rent owed by Tenant to Landlord, including, without limitation, Annual Base Rent, Additional Rent, Tenant’s Pass-Through Costs and Late Charges, which is not paid within five (5) days after the date such payment is due shall bear interest from the due date at a rate equal to the prime rate on corporate loans quoted in the Wall Street Journal (the “Prime Rate”) plus two percent (2%). In addition, if any amount of Rent required to be paid by Tenant to Landlord under the terms of this Lease is not paid within five (5) days after the date such payment is due, then in advance in monthly installments on addition to paying the amount of Rent then due, Tenant shall pay to Landlord a late charge (the “Late Charge”) equal to four percent (4%) of the amount of Rent then required to be paid; provided, however, that Landlord agrees to waive the first (1st) day of each calendar month such Late Charge in any Lease Year during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that Tenant pays the Rent then due within three (3) days after Tenant’s receipt of written notice from Landlord. Payment of such Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check shall not be deemed made if the and said check is not duly honored with good funds. The Rent returned by the bank unpaid, Tenant shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant pay to Landlord the sum of an executed copy Seventy-Five Dollars ($75.00) to cover the costs and expenses of this Lease and shall be applied processing the returned check, in addition to the Rent payment of Base Rental and Tenant’s Share of Operating Costsany other charges provided for herein. Any interest, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time Late Charge and other than the first day of a calendar year, the Tenant’s Share of Operating Costs amounts charged hereunder shall be prorated for such year according to the number of days of the Lease Term in such yearconstitute Additional Rent.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Deed of Lease (K12 Inc)
Payment of Rent. Rent" (which term shall include Base Rent and any Additional Charges) shall be paid promptly when due, without notice or demand and without deduction, abatement, counterclaim or setoff of any amount for any reason whatsoever: provided that (a) Except if Sublandlord's obligation to pay Rent (as otherwise expressly provided such term is defined in this the Main Lease) under the Main Lease shall be abated for a reason that is also applicable to the Sublet Premises (i.e., the Sublet Premises are affected in a substantially similar manner as the balance of space in the Building is affected), Subtenant's obligation to pay Rent under this Sublease shall be due proportionately abated, (b) if Sublandlord is entitled to any rent credits wider the Main Lease for a reason that is also applicable to the Sublet Premises, Subtenant shall be entitled to a proportionate rent credit under this Sublease and payable (c) if Sublandlord receives any reimbursements for any payment of Direct Expenses under the Main Lease,, Sublandlord shall pay to Landlord Subtenant within 30 days of such receipt Subtenant's Proportionate Share of the amount reimbursed to Sublandlord. Rent shad be paid to Sublandlord by Subtenant at the address of Sublandlord set forth in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease Section 26 below or to such other person or and/or at such other address as Landlord Sublandlord may from time to time designate in writingby notice to Subtenant. Landlord may, at its option, xxxx Tenant for Rent, but no delay No payment by Subtenant or failure receipt by Landlord in providing such a xxxx shall relieve Tenant from Sublandlord of any lesser amount than the obligation amount stipulated to pay the Base Rental on the first (1st) day of each month as provided herein. All payments be paid hereunder shall be in deemed other than on account of the form of a earliest stipulated Rent due under this Sublease; nor shall any endorsement or statement on airy check unless otherwise agreed by Landlord, provided that payment by check shall not or letter be deemed made if an accord and satisfaction, and Sublandlord may accept any check or payment without prejudice to Sublandlord's right to recover the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction balance due or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on to pursue any other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant remedy available to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearSublandlord.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this LeaseTenant agrees to pay to Landlord, commencing on the Rent shall be due Commencement Date, and payable to Landlord continuing and monthly in advance in monthly installments throughout the remainder of the Lease Term, on the first (1st) day of each and every calendar month during the Lease Original Term, at Landlord’s address as provided on a sum equal to one-twelfth (1/12th) of the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate Annual Fixed Rent specified in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental Section 1.2 hereof and on the first (1st) day of each and every calendar month during each Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent as provided hereindetermined in Section 3.4 for the applicable Extended Term. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Annual Fixed Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such any partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and at such rate on a pro rata basis, and, if the Rent Commencement Date shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar yearmonth, the Tenant’s Share first payment of Operating Costs Annual Fixed Rent which Tenant shall make to Landlord shall be prorated a payment equal to a proportionate part of such monthly Annual Fixed Rent for such year according the partial month from the Rent Commencement Date to the number of days first day of the Lease Term in such year.
(b) Notwithstanding anything succeeding calendar month. Annual Fixed Rent, Additional Rent, and all other charges for which provision is herein made shall be paid by remittance to or for the order of Landlord to the contraryaddress for rent payment provided by Landlord to Tenant prior to the Rent Commencement Date or by via federally insured wire transfer (including ACH) pursuant to the wire instructions provided to Tenant by Landlord. Additional Rent payable by Tenant on a monthly basis, no Base Rental or Tenant’s Share of Operating Costs as elsewhere provided in this Lease, likewise shall be due for prorated, and the first five (5) months payment on account thereof shall be determined in similar fashion and shall, unless otherwise expressly stated in this Lease, commence on the Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. The Annual Fixed Rent, Additional Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord in lawful money of the Lease TermUnited States in immediately available funds and without notice or demand and with setoff, deduction or abatement, except as otherwise expressly set forth in this Lease.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided Tenant shall pay, without prior notice or demand, in this Lease, accordance with Section 4.1 of the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person Summary or at such other address place as Landlord may from time to time designate in writing. Landlord may, by a check for currency which, at its optionthe time of payment, xxxx Tenant is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent”) as set forth in Section 4 of the Summary, but no delay payable in equal monthly installments as set forth in Section 4 of the Summary, in advance, on or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on before the first (1st) day of each and every calendar month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If during the Lease Term commences on other than the first (1st) day of a calendar monthTerm, then the without any setoff or deduction whatsoever. Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental Rent for the first full month of the Lease Term for which a payment of rent is due (i.e., shall be paid at the sixth [6th] full month of the Lease Term) plus an estimated monthly amount time of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy execution of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by TenantLease. If any Rent payment date (including the Lease Term commences or ends at any time Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a calendar yearperiod which is shorter than one month, the Tenant’s Share of Operating Costs Rent for any fractional month shall be prorated accrue on a daily basis for the period from the date such year according payment is due to the number end of days such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/30 of the applicable monthly Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant assumes the risk of the foregoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in such year.
the nature of constructive eviction to any action seeking to recover rent (b) Notwithstanding anything but nothing in the foregoing sentence is intended to limit or impair Tenant’s right to assert a claim against Landlord for any breach by Landlord of its obligations under this Lease). Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary, no Base Rental . Nothing contained in this Section 3.1 is intended to frustrate or to impede Tenant’s Share right to assert a claim against Landlord for any breach of Operating Costs shall be due for this Lease, and if Tenant prevails in any such lawsuit, to seek any remedies available to Tenant at law, including without limitation, seeking an order from the first five (5) months of the Lease Termcourt permitting Tenant to offset against rent otherwise owed to Landlord.
Appears in 1 contract
Samples: Lease (Organovo Holdings, Inc.)
Payment of Rent. (a) Except as otherwise expressly provided in Concurrently with the execution of this LeaseLease by both parties, the Rent Tenant shall be due and payable pay to Landlord the amount set forth in advance Section L of the Summary as prepayment of rent for credit against the first installment(s) of Base Monthly Rent. All rent required to be paid in monthly installments shall be paid in advance on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on . If Section K of the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay Summary provides that the Base Rental Monthly Rent is to be increased during the Lease Term and if the date of such increase does not fall on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then such increase shall become effective on the Base Rental for such partial month first day of the next calendar month. All rent shall be prorated and paid at the rental rate applicable during the first full month in lawful money of the Lease Term for which a payment of rent is dueUnited States, without any abatement, deduction or offset whatsoever (except as specifically provided in §11.4, §12.3 and elsewhere in the Lease), and without any prior demand therefor. The Base Rental for the first full month Rent shall be paid to Landlord at its address set forth in Section Q of the Lease Term for which a payment of rent is due (i.e.Summary, the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of or at such other place as Landlord may designate from time to time. Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant obligation to Landlord of an executed copy of this Lease and shall be applied to the payment of pay Base Rental Monthly Rent and Tenant’s Share of Common Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs Expenses shall be prorated for such year according to at the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months commencement and expiration of the Lease Term. Landlord has designated Bank One as Landlord’s third party “Lock Box Provider”. Tenant agrees that all payments made under or in connection with this Lease, other than any initial payments such as the first month’s rental and security deposits which are to accompany this Lease, are to be sent to the following designated location, or “Lock Box”, where the Lock Box Provider will collect and deposit payments made pursuant to the Lease as a service to Landlord: AEGON USA Realty Advisors, Inc. P. X. Xxx 000000 Xxxxxxxxx, XX 00000-0000 All such payments sent to the Lock Box are to be made payable to: AEGON USA Realty Advisors, Inc. Tenant acknowledges that the Lock Box Provider is Landlord’s representative for the sole purpose of administratively processing and accounting for payments made pursuant to the Lease, and is not authorized to modify or waive any of the provisions of the Lease or of these provisions. Landlord reserves the right to change Lock Box Providers, use more than one Lock Box, or cease the use of a Lock Box at any time. The demand or receipt by Landlord or the Lock Box Provider of any amount to be paid under this Lease, whether characterized as Base Monthly Rent, or otherwise, with knowledge or notice of the breach by Tenant of any other covenant, agreement, term, rule, regulation or condition of this Lease, shall not be deemed a waiver of such breach. Tenant agrees that payment by Tenant of, or Landlord or Lock Box Provider’s receipt of, a lesser amount than the amount required to be paid under this Lease, shall not be deemed to be anything other than a payment on account, which payment Landlord may apply as it sees fit, regardless of any request or designation by Tenant as to the items against which the payments are to be applied. Tenant shall not place any restrictive endorsements or other statements on any check or other payment, or deliver any writing to Landlord or Lock Box Provider in conjunction with a payment that conditions the payment of any amounts owed by Tenant under the Lease. Tenant agrees that any such endorsement, statement or writing is void, does not constitute an accord and satisfaction, and waives any rights, defenses or remedies granted by law in connection with making such an endorsement, statement or writing. Tenant further agrees that Landlord or Lock Box Provider may accept any such check or other payment as if such endorsement, statement or writing was not present, without prejudicing Landlord’s right to recover the balance of such amount owed or to pursue any other remedy permitted by this Lease. Tenant also agrees that Landlord’s or Lock Box Provider’s receipt of, or acceptance and deposit of, any amounts owed by Tenant under the Lease following: (i) the giving of any notice of default to Tenant; (ii) the commencement of suit against Tenant; (iii) the termination of this Lease or final judgment for possession of the Premises; or (iv) the exercise of any other remedy by Landlord, shall not affect Landlord’s right to exercise any remedy, including any right to recover possession of the Premises. Notwithstanding the above, nothing contained herein shall limit the rights of the Tenant under the Lease to cure any default.
Appears in 1 contract
Payment of Rent. (a) Except Within ten (10) business days following the date of Tenant’s receipt of the first certificate of occupancy for the Hotel (the “Certificate of Occupancy Date”), Tenant shall pay Landlord, as otherwise expressly provided in this Leasea one-time, lump-sum payment, the sum of One Hundred Fifty Thousand and 00/100 Dollars ($150,000.00) (the “Initial Base Rent”). The Initial Base Rent shall be due is intended to compensate Landlord for Tenant’s use and payable to Landlord in advance in monthly installments occupancy of the Land during the period of the construction of the Hotel. Beginning on the first (1st) day Certificate of each calendar month during Occupancy Date and continuing throughout the Lease Term, at Landlord’s address as provided on Tenant shall pay Landlord percentage rent equal to two percent (2%) of annual Gross Revenues (the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for “Percentage Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds”). The Percentage Rent shall be paid without noticequarterly in arrears, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences based on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental Gross Revenues for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such yearimmediately prior Rent Year quarter.
(b) Notwithstanding anything herein Within thirty (30) days after the end of each Rent Year quarter, (i) Tenant shall deliver to Landlord a written statement certified by the president or chief financial officer of Tenant stating the Gross Revenues made during such Rent Year quarter, and (ii) Tenant shall pay to Landlord the Percentage Rent provided for above.
(c) Within ninety (90) days after the end of each Rent Year, Tenant shall deliver to Landlord a written statement prepared by an independent certified public accountant showing accurately and in such detail and in such form as Landlord may reasonably require, the Gross Revenues made during the preceding Rent Year, on a quarterly basis. In the event the total Percentage Rent paid by Tenant to Landlord, for the preceding Rent Year, is less than the amount of two percent (2%) of the annual Gross Revenues of Tenant during the preceding Rent Year, the amount of such deficiency in Percentage Rent shall be paid to Landlord simultaneously with delivery of the statement prepared by said independent certified public accountant. In the event the total Percentage Rent paid by Tenant to Landlord for the preceding Rent Year exceeds an amount equal to two percent (2%) of the annual Gross Revenues of Tenant during the preceding Rent Year, the excess amount of Percentage Rent previously paid by Tenant shall be credited to the contraryinstallment(s) of Percentage Rent next becoming due and payable.
(d) During the Term, no Base Rental Tenant shall maintain and keep, or cause to be maintained and kept, at the Hotel or at Tenant’s Share office in the Washington, D.C. metropolitan area, a full, complete and accurate record and account of Operating Costs all Gross Revenues and all sums of money paid or payable for or on account of or arising out of the business transactions conducted at or from said Hotel by or for the account of Tenant, for each day of the term and all extensions thereof, and such records and accounts and all supporting records at all times shall be due available for inspection and audit at the first five Hotel by Landlord and its duly authorized agents or representatives at all hours during ordinary business days. Tenant shall keep and preserve, or cause to be kept and preserved, said records until the earliest to occur of (5i) the expiration of the Term of this Lease, or (ii) the date of expiration of thirty-six (36) months after the applicable payment of Percentage Rent has been received by Landlord.
(e) The acceptance by Landlord of payments of Percentage Rent shall be without prejudice to Landlord’s right to an examination of Tenant’s books and records of its Gross Revenues in order to verify the Lease Termamount of annual Gross Revenues.
(f) At its option, Landlord may cause, at any time within twenty-four
Appears in 1 contract
Samples: Deed of Lease
Payment of Rent. (a) The term "Rent" shall mean, collectively, the Rent, and all other sums of money becoming due and payable to Landlord under this Lease. Except as otherwise expressly provided in this Lease, from and after the Rent Commencement Date, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on in legal tender of the signature page United States of this Lease America, or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this LeaseLease or under Massachusetts law. In the event that Tenant fails to pay any payment of Rent within 5 days after its due date (provided; however that (i) no more than one such 5 day grace period will be available on late payments of Rent (as defined in Section 1(c) hereof) hereunder in any 12 month period and after such grace period has occurred then interest shall in the event of any other late payments of Rent (as defined in Section 1(c) hereof) in such 12 month period commence to accrue on and from the Rent due date and (ii) no more than three such 5 day grace periods will be available on late payments of other Rent in any 12 month period and after three such grace periods have occurred then interest shall in the event of any other late payments of other Rent in such 12 month period commence to accrue on and from the Rent due date), then, immediately upon demand, Tenant shall pay Landlord, as additional Rent hereunder, interest on such amount from its due date until the date so paid at a rate of interest equal to the lesser of (a) the then current "Prime Rate" of Fleet Bank, N.A. (or its successor) plus four percent (4%) per annum or (b) the highest rate of interest allowed by law. If the Lease Term commences Rent Commencement Date occurs on a date other than the first (1st) day of a calendar month, then the Base Rental installment of Rent for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described as provided in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year1(c).
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Samples: Lease Agreement (Mykrolis Corp)
Payment of Rent. (a) Except as otherwise expressly provided As used in this Lease, "Rent" shall mean the Base Rent, the Operating Expense reimbursements pursuant to Section 5.01, Tenant's Electricity Charge pursuant to Section 5.02B, the Parking Rent pursuant to Section 17.14 hereof, and all other monetary obligations provided for in this Lease to be paid by Tenant, all of which shall be constitute rental in consideration for this Lease and the leasing of the Premises. Without invoice or other notice from Landlord, Tenant shall send Base Rent and other sums due and payable hereunder in legal tender of the United States of America to Landlord at the address set forth in advance in monthly installments on the first (1stSection 1.01(o) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction deduction, or offset, offset except as otherwise may be expressly provided set forth in this Lease. If the Lease Term commences on other than the first (1stUpon execution of this Lease, Tenant shall pay to Landlord an amount equal to one months rent as described in Section1.01(l) day of a calendar month, then the Base Rental for and any such partial month amount shall be prorated applied to this first month's Rent due hereunder. Landlord shall, at its option, have the right to collect from Tenant, five cents ($.05) for each dollar ($1.00) of each installment of Rent which is not received within five (5) business days of its due date after Landlord's written notice to Tenant for any reason whatsoever and paid at Tenant agrees to pay such amount immediately on demand as liquidated damages to cover the rental rate applicable during additional costs of collecting and processing such late payments. Tenant acknowledges that the first full month of the Lease Term for which a late payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of this Lease which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and shall be applied to accounting charges, and such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of such failure to pay Rent continues beyond a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months day period, any and all due and unpaid Rent shall bear interest at the lesser of (i) eighteen percent (18%) per annum, or (ii) the Lease Term.maximum non-usurious rate allowed by applicable law (the "Default Interest Rate"), from the date such Rent became due until the date such Rent is received by Landlord. Such interest shall be immediately due and payable as additional Rent hereunder. The collection of such late charge and/or such interest by Landlord shall be in addition to and cumulative of any and all other remedies available to
Appears in 1 contract
Samples: Office Lease (Carreker Antinori Inc)
Payment of Rent. (a) Except as otherwise expressly provided in Concurrently with Xxxxxx’s execution of this Lease, the Rent Tenant shall be due and payable pay to Landlord the amount set forth in advance Section L of the Summary as prepayment of rent for credit against the first installment(s) of Base Monthly Rent. All rent required to be paid in monthly installments shall be paid in advance on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on . If the signature page date of this Lease or to such other person or at such other address as Landlord may from time to time designate an increase in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental Monthly Rent does not fall on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then such increase shall become effective on the first day of the next calendar month. All rent shall be paid in lawful money of the United States, without any abatement, deduction or offset whatsoever (except as specifically provided in Sections 5.2, 11.4 and 12.3), and without any prior demand therefor. Rent shall be paid to Landlord at its address set forth in Section R of the Summary, or at such other place as Landlord may designate from time to time. Tenant’s obligation to pay Base Rental for such partial month Monthly Rent and Xxxxxx’s Share of Common Operating Expenses shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e., the sixth [6th] full month commencement and expiration of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with . In the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If event that the Lease Term commences or ends at any time on a date other than the first day of a calendar yearmonth, on the Tenant’s Share Commencement Date Tenant shall pay to Landlord as Base Monthly Rent for the period from such Commencement Date to the first day of Operating Costs shall be prorated for such year according to the first full calendar month that proportion of the Base Monthly Rent hereunder which the number of days between such Commencement Date and the first day of the next succeeding calendar month bears to thirty (30); the Base Monthly Rent prepaid pursuant to Section L of the Summary shall then be applied to the Base Monthly Rent due for the first full calendar month of the Lease Term. In the event that the Lease Term is terminated for any reason on a date other than the last day of a calendar month, on the first day of the last calendar month of the Lease Term in such year.
(b) Notwithstanding anything herein Tenant shall pay to the contrary, no Landlord as Base Rental or Tenant’s Share of Operating Costs shall be due Monthly Rent for the period from said first five (5) months day of said last calendar month to and including the last day of the Lease TermTerm that proportion of the monthly Base Monthly Rent hereunder which the number of days between said first day of said last calendar month and the last day of the term hereof bears to thirty (30).
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided in this Lease, the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s 's address as provided on the signature page of this Lease or to such other person or at such other address as Landlord may from time to time designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Term commences on other than the first (1st) day of a calendar month, then the Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is dueTerm. The Base Rental for the first full month of the Lease Term for which a payment of rent is due (i.e.and, if the sixth [6th] first full month of the Lease Term) plus Term falls on a date that is after the end of the Base Year, an estimated monthly amount of Tenant’s Share of Basic Operating Costs and Tenant’s Share of Taxes described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating CostsShare, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. .. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Basic Operating Costs and Tenant’s Share of Taxes shall be prorated for such year according to the number of days of the Lease Term in such year.
(b) Notwithstanding anything herein to the contrary, no Base Rental or Tenant’s Share of Operating Costs shall be due for the first five (5) months of the Lease Term.
Appears in 1 contract
Payment of Rent. (a) Except as otherwise expressly provided Tenant shall pay, without prior notice or demand, in this Lease, accordance with Section
4.1 of the Rent shall be due and payable to Landlord in advance in monthly installments on the first (1st) day of each calendar month during the Lease Term, at Landlord’s address as provided on the signature page of this Lease or to such other person Summary or at such other address place as Landlord may from time to time designate in writing. Landlord may, by a check for currency which, at its optionthe time of payment, xxxx Tenant is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent”) as set forth in Section 4 of the Summary, but no delay payable in equal monthly installments as set forth in Section 4 of the Summary, in advance, on or failure by Landlord in providing such a xxxx shall relieve Tenant from the obligation to pay the Base Rental on before the first (1st) day of each and every calendar month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If during the Lease Term commences on other than the first (1st) day of a calendar monthTerm, then the without any setoff or deduction whatsoever. Base Rental for such partial month shall be prorated and paid at the rental rate applicable during the first full month of the Lease Term for which a payment of rent is due. The Base Rental Rent for the first full month of the Lease Term for which a payment of rent is due (i.e., shall be paid at the sixth [6th] full month of the Lease Term) plus an estimated monthly amount time of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy execution of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by TenantLease. If any Rent payment date (including the Lease Term commences or ends at any time Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a calendar yearperiod which is shorter than one month, the Tenant’s Share of Operating Costs Rent for any fractional month shall be prorated accrue on a daily basis for the period from the date such year according payment is due to the number end of days such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant assumes the risk of the foregoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in such year.
the nature of constructive eviction to any action seeking to recover rent (b) Notwithstanding anything but nothing in the foregoing sentence is intended to limit or impair Tenant’s right to assert a claim against Landlord for any breach by Landlord of its obligations under this Lease). Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary, no Base Rental . Nothing contained in this Section 3.1 is intended to frustrate or to impede Tenant’s Share right to assert a claim against Landlord for any breach of Operating Costs shall be due for this Lease, and if Tenant prevails in any such lawsuit, to seek any remedies available to Tenant at law, including without limitation, seeking an order from the first five (5) months of the Lease Termcourt permitting Tenant to offset against rent otherwise owed to Landlord.
Appears in 1 contract
Samples: Lease (Organovo Holdings, Inc.)