Payment of Rent. The Annual Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the 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. 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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement.
Appears in 3 contracts
Samples: Indemnity Agreement (Bway Corp), Agreement (Bway Corp), Lease (Bway Corp)
Payment of Rent. The Annual Base (a) Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar 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 at Landlord’s address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only 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 Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term for which a payment of rent is due. The Base Rental for the said first full month of the Lease Year. Should 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 Additional Rent and year according to the number of days 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 delivery of the above-mentioned statementLease Term in such year.
Appears in 3 contracts
Samples: Office Lease Agreement, Office Lease Agreement (Aptinyx Inc.), Office Lease Agreement (Aptinyx Inc.)
Payment of Rent. The Annual Base Rent shall be paid in equal consecutive monthly instalments Resident agrees to pay in advance the Monthly Rent for the Home in the amount set forth in Section 1 on the first day of each and every month during the Term. Subject The Monthly Rent is due, without deduction or demand, at the Property Manager’s office. Payment by personal check is a privilege accorded by the Owner at its sole discretion and the Owner specifically reserves the right to section 4.3demand payment by certified check or money order for any and all sums, including Additional Rent, due under this Agreement. Further, the first monthly instalment Resident 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 election, cause all Annual Rent to be immediately due and payable. Payment or receipt of a rental payment of less than the Annual Base Rent amount stated in this Agreement shall be paid by 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 Tenant balance due on the Commencement Date account, (ii) send a notice of termination of tenancy and/or commence an eviction or other proceedings for 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 Development, upon thirty (30) days' advance written notice of 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 Term. The Landlord Written documentation of the basis upon which such increase is calculated shall remit be provided to Resident at the address listed at Section 1.a. If the increased Monthly Rent Payment is more than five percent (5%) above the then current Monthly Rent Payment, Resident may elect to terminate this Agreement and vacate the Home prior to the Tenant, before each Lease Year, effective date of increase by providing the estimated amount Owner written notice by registered or certified mail of such election within fifteen (15) days after the receipt of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and notice 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 estimateincrease. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement.[ ]
Appears in 3 contracts
Samples: Resident Occupancy Agreement, Resident Occupancy Agreement, Resident Occupancy Agreement
Payment of Rent. The Annual 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 Sublease. Rent herein reserved or payable shall be paid at Sublandlord’s election, (i) to Sublandlord’s address for payment of Rent set forth in equal consecutive monthly instalments the Defined Terms, or (ii) to such other payee and/or at such other place as Sublandlord may designate from time to time in advance on 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. Subtenant shall 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 . Master Lease). In the event the first day of each and every month during the Term. Subject to section 4.3, Sublease Term shall not be the first monthly instalment day of a calendar month or the last day of the Annual Sublease Term is not the last day of the calendar month, Base Rent shall be paid by the Tenant on the Commencement Date and Subtenant’s Share of the Term. The Landlord shall remit to the Tenant, before each Master 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 Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses shall then be established for said Lease Year appropriately prorated based on that estimatethe number of calendar days. The 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 from time to time during a be, the Subtenant’s Share of Master Lease Year re-evaluate its estimate of such Additional Rent and Subtenant’s Share of the Management Fee, Sublandlord Operating Expenses and in such case other costs and expenses. Said statement to be rendered to Subtenant also shall notify the Tenant in writing of the re-evaluation and establish monthly payments show for the unexpired period of such Lease Year preceding year or of such part only of a Lease Yearfraction thereof, so that after as the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimatecase may be, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 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 Tenant 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 Landlordthirtieth (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 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 a 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 appropriate adjustments will be 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 following the delivery after conclusion of the aboveexamination and audit as well as Sublandlord’s actual out-mentioned statementof-pocket costs in connection with such examination and audit. The obligation to make such refund or payment for any period within the Lease Term 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 period provided for by this Section, Subtenant shall have no further right to challenge Sublandlord’s statement as to Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses.
Appears in 3 contracts
Samples: Sublease Agreement, Sublease Agreement (Editas Medicine, Inc.), Sublease Agreement (Editas Medicine, Inc.)
Payment of Rent. The Annual Base Monthly Rent and Adjustments shall be paid due and payable, in equal consecutive monthly instalments advance, beginning on the Rent Commencement Date; provided that one (1) 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 advance that month. If the Rent Commencement Date occurs on the first day of each and every a calendar month, then the month during in which the Term. Subject to section 4.3, Rent Commencement Date occurs shall be the first monthly instalment complete calendar month after the occurrence of the Annual 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 paid by at the Tenant on times and in the Commencement Date amounts provided for herein in legal tender of the Term. The United States of America to Landlord shall remit at the address specified in Paragraph 32 hereof or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and of the Management Feeshall be paid without notice, and demand, abatement, deduction or offset (unless expressly provided for elsewhere in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third partiesthis Lease) and shall be a covenant of the Management Fee for the said Lease YearTenant independent of any obligation of Landlord under this Lease. Should the amount Tenant's obligation to pay any installment of Rent shall not be deemed satisfied until such Additional installment of Rent and of the Management Fee then determined has actually been received 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 delivery of the above-mentioned statement."
Appears in 2 contracts
Samples: Commercial Lease Agreement (Mannatech Inc), Commercial Lease Agreement (Mannatech Inc)
Payment of Rent. 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 Annual Base Rent shall be paid at the times and in equal consecutive monthly instalments the amounts provided for herein in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment legal tender of the Annual Base Rent shall be paid by United States of America to Landlord at the Tenant on the Commencement Date of the Term. The Landlord shall remit address specified above or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during designate in writing. The Rent shall be paid without notice, demand, abatement, deduction, or offset except as may be expressly set forth in this Lease. Landlord shall, at its option, have the 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 demand as liquidated damages to cover the additional costs of collecting and processing such late payments. Tenant acknowledges that the late payment by Tenant to Landlord of Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and such late charges represent a Lease Year re-evaluate its fair and reasonable estimate of such Additional Rent and the cost that Landlord will incur by reason of the Management Feelate payment by Xxxxxx. If such failure to pay Rent continues beyond such five (5) day period, any and in such case all due and unpaid Rent shall notify bear interest at the Tenant in writing lesser of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year(i) eighteen percent (18%) per annum, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement.or
Appears in 2 contracts
Payment of Rent. The Annual Tenant shall pay all Base Rent and Additional Rent (defined below) (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 Section 4.1) (collectively, “Monthly Rent”) shall be paid in equal consecutive monthly instalments in advance on or before the first day of each and every calendar month during the Term. Subject to section 4.3; provided, however, that the installment of Base Rent for the first monthly instalment full calendar month for which Base Rent is payable hereunder and the installment of Direct Expenses for the Annual Base 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 other items of Additional Rent shall be paid by the Tenant within 30 days after Landlord’s request for payment. Rent for any partial calendar month shall be prorated based on the Commencement Date actual number of the Termdays in such month. The Without limiting Landlord’s other rights or remedies, (a) if any installment of Rent is not received by Landlord shall remit to the Tenantor its designee within five (5) business days after its due date, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Landlord a late charge equal to third parties) and 5% of the Management Fee for overdue amount (provided, however, that period, and the monthly payments of Additional Rent and Management Fee which are payable such late charge shall not apply to the Landlord 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 then be established for said Lease Year based on that estimatebear 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). The Landlord may from time Tenant’s covenant to time during a Lease Year re-evaluate its estimate pay Rent is independent of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (every other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementcovenant herein.
Appears in 2 contracts
Samples: Office Lease (Ubiquiti Networks, Inc.), Office Lease (Ubiquiti Networks, Inc.)
Payment of Rent. The Annual Tenant shall pay, without prior notice or demand, in accordance with Section 4.1 of the Summary or at such place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, 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 shall be paid Rent”) as set forth in Section 4 of the Summary, payable in equal consecutive monthly instalments installments as set forth in advance Section 4 of the Summary, in advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Subject to section 4.3Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the 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 period which is shorter than one month, the first monthly instalment Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Annual 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 paid 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 on assumes the Commencement Date risk of the Termforegoing 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 the nature of constructive eviction to any action seeking to recover rent. The Landlord shall remit Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the Tenantcontrary. Notwithstanding anything to the contrary in this Lease, before each Lease YearTenant may at its election pay any Rent (as defined below) to Landlord by electronic transfer (including ACH), and Tenant shall use the estimated amount ACH information set forth in Section 4 of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Summary in order to third parties) and of the Management Fee for that period, and the monthly effect such 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 during a Lease Year re-evaluate using electronic transfer of funds through its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementbank.
Appears in 2 contracts
Payment of Rent. The Annual Base All Rent, required to be paid in monthly installments, shall be paid in advance on the twentieth (20th) day of each calendar month during the Lease Term. All Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment lawful money of the Annual Base 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 by to the Tenant on Master Trustee for deposit in the Commencement Date Gross Revenue Fund (as that term is defined in the Loan Documents), and at such address as the Master Trustee notifies Tenant, or at such other place as Landlord may designate from time to time, with the approval of the Term. The Master Trustee as long as Landlord shall remit has any obligations pursuant to the terms of the Loan Documents. Tenant’s obligation to pay Rent shall be prorated at the commencement and expiration of the Lease Term 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 is due, before each Lease Yearthen Tenant shall pay to the Master Trustee, the estimated amount within three (3) business days after Tenant's receipt of the Additional Rent (other than Payment Notice, the portion thereof which Additional Monthly Payment. Landlord covenants to immediately provide Tenant with a copy of any Additional Payment Notice received by Landlord pursuant to the Tenant shall pay directly to third parties) and terms of the Management Fee for that periodMaster Indenture. As used herein, and the monthly payments of “Additional Rent and Management Fee which are payable to Monthly Payment” shall mean the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of amount set forth in such Additional Rent and of Payment Notice, which shall be the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount Tenant's Proportionate Share of the 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 (other than as that term is defined in the portion thereof which Master Indenture) have been timely made. Promptly after the Master Trustee refunds to Landlord the Additional Monthly Payment amount paid by Tenant pursuant to this Section 3.3 or otherwise releases or make such funds available to Landlord pursuant to the terms of the Loan Documents, Landlord shall refund such amount to Tenant. For clarity, the aforementioned refund mechanism applies with respect to the refund of payments made by Tenant with respect to a Related Project after the tenant with respect to such Related Project has paid directly to third parties) rent and of the Management Fee for Master Trustee has sufficient funds available in 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 delivery of the above-mentioned statementGross Revenue Fund account.
Appears in 2 contracts
Samples: Sublease Agreement, Lease Agreement
Payment of Rent. The Annual Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the 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. 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 all Rent to third partiesLandlord on the day(s) and specified therefor, without notice, demand, deduction or offset, in lawful money of the Management Fee United States of America, to the Address for that periodPayment of Rent or at such other place as Landlord may from time-to-time designate in writing to Tenant. If Landlord so notifies Tenant in writing (and Tenant is able to reasonably comply), and the monthly 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 Term 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should if the amount of such Additional Rent and increase or decrease has not been determined as of the Management Fee date such Rent is to be paid, then determined by (a) Tenant shall continue to pay such Rent in the amount payable for the immediately preceding month (or other period for which such Rent is due) and (b) within thirty (30) days after the date Landlord be greater notifies Tenant of such adjusted Rent, Tenant shall pay to Landlord any additional amount owed due to such adjusted Rent or less than the total if Tenant has paid Rent in excess of the amounts already paid by adjusted Rent, such excess shall be credited against the Tenant to the Landlordnext monthly payment(s) of Rent until such excess has been exhausted; however, then appropriate adjustments will be made within thirty (30) days following the delivery Refund Date, any such excess shall be refunded to Tenant. Landlord and Tenant may each use the other’s Rent Inquiry Address to communicate to the other party any inquiries relating to the calculation of the above-mentioned statementvarious components constituting Rent or the payment of Rent.
Appears in 2 contracts
Samples: Lease Agreement (Tradeshow Marketing Co. Ltd.), Lease Agreement (Tradeshow Marketing Co. Ltd.)
Payment of Rent. The Annual Base Tenant shall pay the Yearly Fixed Rent shall be paid as set forth in equal consecutive monthly instalments the Reference Data Pages by Monthly Payments in advance advance, without setoff, offset or deduction, commencing on the Rent Commencement Date, and thereafter continuing on the first day of each month thereafter, and every month during shall pay Additional Rent in the Termmanner set forth herein. Subject to section 4.3, the first monthly instalment of the Annual Base Rent All rent and other payments shall be paid by the Tenant on the Commencement Date of the Term. The made to Landlord at Landlord’s Initial Address for Payment or at such other location and to such person as 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 that estimate. The Landlord may designate from time to time during in writing. If the Rent Commencement Date and/or Term Commencement Date occurs on a day other than the first day of a month, the first Monthly Payment and Additional Rent, as applicable, shall be appropriately pro-rated for that month and added as Rent for the First Lease Year reYear. 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 first such late payment in any consecutive 12-evaluate its estimate month period, no 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 such one (1%) percent (the “Default Rate”) for each month or any fraction thereof on any Rent not paid within ten (10) days after the date due. The sending of 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 shall include Yearly Fixed Rent, Additional Rent and of the Management Fee, all other sums and in such case shall notify the charges payable by Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the hereunder. Landlord Initial Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement.Initial
Appears in 2 contracts
Payment of Rent. The Annual Base Rent All rent shall be paid in equal consecutive monthly instalments 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 1h hereof or at such other place as Landlord may hereafter designate in writing, on the first day of each and every calendar month during the Term. Subject All such payments shall be made by good checks payable to section 4.3Landlord 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 first monthly instalment of the Annual Monthly Base Rent or Additional Rent shall be 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 prejudice to Landlord's right to recover the balance due and payable or to pursue any other remedy provided in this Lease 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 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 four percent (4%). In addition, if any amount of Rent required to be paid by Tenant to Landlord under the Tenant on terms of this Lease is not paid within five (5) days after the Commencement Date of date such payment is due, then in addition to paying the Term. 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 then due, Tenant shall pay directly to third partiesLandlord a late charge (the "Late Charge") and equal to five percent (5%) 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of Rent then required to be paid. Payment of such Additional Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and of the Management Fee then determined said check is returned by the bank unpaid, Tenant shall pay to Landlord be greater or less than the total sum of One Hundred Dollars ($100.00) to cover the amounts already paid by costs and expenses of processing the Tenant returned check, in addition to the LandlordRent payment and any other charges provided for herein. Any interest, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLate Charge and other amounts charged hereunder shall constitute Additional Rent.
Appears in 1 contract
Payment of Rent. The Annual Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the 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. 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 periodLandlord, 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 or such other person or entity or at such other place as Landlord may from time to time during a Lease Year re-evaluate its estimate direct in writing all amounts due Landlord from Tenant hereunder, including, without limitation, Base Rent, Expense Adjustment and Tax Adjustment (all amounts due hereunder being referred to collectively as “Rent”). Except as specifically provided in this Lease, Rent shall be paid without abatement, deduction or set off of such Additional Rent and any kind, it being the intention of the Management Feeparties 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 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. All Rent shall be 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 available as and when due under this Lease (i.e., delays in posting of funds made by ACH Payment shall not relieve Tenant of its obligations to timely make payments under this Lease nor shall such delays be deemed a Force Majeure Cause), and in such case shall notify the (ii) if more than two (2) payments required to be made by Tenant in writing 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 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 in lawful money of the re-evaluation United States of America by good and establish monthly payments for the unexpired period of such Lease Year or of such part only of sufficient check (subject to collection), drawn on a Lease Year, so New York City bank that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount member of the Additional Rent (Clearing House or a successor thereto, at the office of Landlord or such other than place in the portion thereof which the Tenant has paid directly to third parties) and United States of the Management Fee for the said Lease YearAmerica as Landlord may designate. 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 delivery of the above-mentioned statement.As used herein,
Appears in 1 contract
Samples: Office Lease (Schrodinger, Inc.)
Payment of Rent. The Annual Base Sublease Rent shall be paid and Additional Sublease Rent (collectively the “Rent”) is payable in advance in equal consecutive monthly instalments 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 calendar day of each and every month during the Sublease Term. Subject to section 4.3, except that the first monthly instalment installment of the Annual Base Rent shall will be paid by Subtenant to Sublandlord upon execution of this Agreement on behalf of Subtenant. To the Tenant on extent that the Commencement Date Sublandlord’s share of the costs for Operating Expenses is modified during any year of the Sublease Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional monthly Rent (other than the portion thereof which the Tenant payable by Subtenant shall pay directly be adjusted to third parties) and take such modification into account. All Rent will be paid without notice, demand, set-off or deduction, in lawful money of the Management Fee United States of America, at the address of Sublandlord 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 notices set forth below or at such other place as Sublandlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of designate in writing. If the Management Fee, and in such case shall notify Sublease Term begins on other than the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only first calendar day of a Lease Yearmonth (i.e. the Effective Date), so that after Rent will be prorated on a per diem basis. If during the Tenant is credited with Sublease Term, Subtenant shall fail to pay Rent within seven (7) days of when the appropriate amounts paid Rent shall be due and payable, Subtenant shall pay to Sublandlord as liquidated damages for such late payment, without notice or demand by Sublandlord, a sum equal to ten percent (10%) per annum on the Tenant in accordance with amount of Rent then due, compounding monthly from the previous estimate, such Additional Rent and the Management Fee is due date until paid in full during and a $100.00 USD administrative charge. Subtenant and Sublandlord agree that such Lease Year or during a part only sums of such Lease Year. After each Lease Year, the Landlord shall remit liquidated damages are fair and reasonable due to the Tenant uncertainty of calculating actual damages. Provided further, however, that nothing contained in this Section 5 (c) shall be deemed or construed to be a statement indicating limitation of or in substitution of Sublandlord’s other rights and remedies as provided under this Agreement, and Sublandlord shall have the actual amount right to apply any monies received from Subtenant first to any deficiency in the payment of the Additional Rent (liquidated damages and any excess thereof to any item of Rent, or any other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Yearcharge, as Sublandlord may determine. 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 Notwithstanding any other provision hereof to the Landlordcontrary, then appropriate adjustments will be made within thirty (30) days following Subtenant’s liability for Rents accruing during the delivery Sublease Term and Sublandlord’s obligation to refund overpayment of Rents paid to it by Subtenant shall survive the above-mentioned statementexpiration or sooner termination of this Agreement.
Appears in 1 contract
Samples: Sublease Agreement (AntriaBio, Inc.)
Payment of Rent. The Annual Base All Rent due and owing by Subtenant except Subtenant Rent shall be paid payable directly to the Landlord as specified in equal consecutive monthly instalments 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 throughout the 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 the notice address set forth herein. Tenant hereby acknowledges and agrees that notwithstanding the Commencement Date and Subtenant's early access, if any, Subtenant shall not be 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 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 delayed past May 15, 1997 because Tenant has failed to deliver Exclusive Possession of the Demised Premises to Subtenant as provided in advance on Section 2 above in the first day condition required herein. Subtenant shall deliver herewith to Tenant the sum of each and every month $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. Subject term of this Sublease, and that all costs, expenses and obligations of every kind and nature whatsoever relating to section 4.3, the first monthly instalment of Demised Premises during the Annual Base Rent Term shall be paid by Subtenant, except as otherwise herein noted or noted in the Tenant on Lease. Notwithstanding anything to the Commencement Date 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 Sections 9 and 10 of the Term. The Landlord Lease and Subtenant shall remit have the right to terminate this Sublease (but not the Lease) pursuant to the Tenant, before each Lease Year, the estimated amount terms of Sections 9 and 10 of the Additional Rent (other than Lease, subject to the portion thereof which the Tenant shall pay directly to third parties) terms of Sections 9 and 10 of the Management Fee for that period, and the monthly payments Lease. No termination of Additional Rent and Management Fee which are payable this Sublease pursuant to this Section will be effective unless Tenant is given notice of Subtenant's termination of this Sublease at least five (5) days prior to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time Tenant is required to time during a Lease Year re-evaluate its estimate give notice of such Additional Rent and termination of the Management Fee, Lease to Landlord pursuant to the provisions of Sections 9 and in such case shall notify the Tenant in writing 10 of the reLease. SECTION 5 -evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement.
Appears in 1 contract
Payment of Rent. The Annual 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 prepayment of the first installment of Base Monthly Rent due after any abatement period. All Rent required to be paid under this Lease in monthly installments shall be paid in equal consecutive monthly instalments to Landlord in advance on the first day of each and every calendar month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base All Rent shall be paid by the Tenant on the Commencement Date in lawful money of the TermUnited States, without any abatement, deduction or offset whatsoever (except as specifically provided herein), and without any prior notice or demand therefor. The Rent shall be paid to Landlord shall remit pursuant to the Tenant, before each Lease Year, the estimated amount electronic wiring instructions set forth in Section Q of the Additional Rent (Summary, or, at Landlord's option, pursuant to such other than the portion thereof which the Tenant shall pay directly electronic wiring instructions or 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 that estimate. The such other party or at such other place as Landlord may designate from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Feein writing, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the notice to Tenant in accordance with the previous estimate, such Additional provisions of Section 21.5 of this Lease. If any Rent and payment date (including the Management Fee is paid in full during such Lease Year or during Commencement Date) falls on a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount day of the Additional Rent (month other than the portion thereof first day of such month, or if any payment of Rent is for a period which is shorter than one month, the Tenant has paid directly Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to third parties) and the end of such calendar month or to the end of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and Term at a rate per day which is equal to 1/365 of the Management Fee then determined by 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. Landlord be greater or less than shall have the total right, upon at least ten (10) days' prior written notice to Tenant (i) to change the name of the amounts already paid depository for receipt of any payment of Rent made by the 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 the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLandlord under this Lease by Electronic Payment.
Appears in 1 contract
Samples: Lease (PROCEPT BioRobotics Corp)
Payment of Rent. The Annual 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 paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first day of each and every calendar 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 at Landlord's address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant designate in writing upon not less than ten (10) days notice. Landlord may, at its option, bill Xxxant for Rent, but no delay or failure by Landlord in providing such a 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 re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only 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 Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first day of a calendar month, then the Tenant has paid directly to third parties) and installment of Base Rental for such partial month shall be prorated as provided in Section 1(b). If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant's Share of the Management Fee Basic Operating Costs which exceed the Base Amount shall be prorated for such year according to the said Lease Year. Should the amount number of such Additional Rent and days 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 delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Payment of Rent. The Annual Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the 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. , 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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement.
Appears in 1 contract
Samples: Lease (Bway Corp)
Payment of Rent. The Annual All Base Rent, Percentage Rent, Additional Rent and other sums shall be paid in equal consecutive monthly instalments in advance on the first day to Landlord without demand and without deduction, set-off, claim or counterclaim of each any nature whatsoever which Tenant may have or allege to have against Landlord. All such Rent and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent 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 at 940 X. Xxxxx Blvd, Winter Park, FL 32789, or such other person, firm or corporation as the Landlord may hereafter designate in writing. Tenant agrees to pay a Ten dollar ($10.00) processing fee for submitting payment via check, 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, Tenant shall make payments of Rent and all other payments to Landlord required by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent via Automated Clearing House Transfer (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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant “ACH Payment”); in accordance with the previous estimateterms and conditions of this Paragraph. If Landlord shall elect to have payments made by ACH Payment, Landlord shall provide notice to Tenant of same and Tenant shall, within fifteen (15) days of the date of such Additional notice from Landlord, execute and deliver to Landlord a complete Authorization Agreement in the form set forth in Exhibit I attached hereto or on such 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 Xxxxxxxx. Any denial or delay of a scheduled ACH Payment resulting from insufficient funds in the Management Fee is paid in full during such Lease Year account Tenant designates for the ACH debit or during any other delay resulting from Xxxxxx’s actions, subject to any cure period prescribed under this Lease, shall immediately and automatically be a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount default of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementLease.
Appears in 1 contract
Samples: Retail Lease Agreement
Payment of Rent. The Annual Base Rent 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 herein specified. All rent shall be paid to Sublessor at 0000 Xxx Xxxxxx, Santa Clara, CA unless and until Sublessee is otherwise notified in equal consecutive writing. Rent payments in the monthly instalments amount set forth below shall be payable monthly, in advance advance, due on the first (1st) day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant commencing on the Commencement Date hereof and delinquent if not paid on or before the third (3rd) day of the Termmonth 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 well 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 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 Landlord Full Service Rent per month shall remit be as follows: Months Full Service Rent Per Month 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 TenantSublease Premises, before each Lease Yeardisproportionate usage of utilities; and after-hours HVAC services. Otherwise, all other costs of maintenance, repair (unless caused by the estimated amount negligence of Sublessee or its agents), utilities, property taxes, Master Lessor or Sublessor insurance costs, or any other costs associated with the Additional Subleased Premises (and Temporary Premises while applicable) incurred by Master Lessor or Sublessor shall be covered in the Full Service Rent. Full Service Rent (other than the portion thereof which the Tenant shall pay directly to third parties) is inclusive of electricity and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable gas to the Landlord shall then be established for said Lease Year based on Subleased Premises; provided, however, in the event Sublessor reasonably determines that estimate. The Landlord may from time to time during Sublessee is using a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the disproportionate amount of such Additional Rent electricity and of the Management Fee then / or gas, Sublessor may charge for such excess as is reasonably determined by the Landlord be greater or less than the total Sublessor. A disproportionate amount of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments electricity and gas will be made 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 following after the end of the term, with Sublessee paying any excess within thirty (30) days after being provided the true-up, with copies of the utility bills and an invoice of what is owed. If the Sublessee can show that the excess usage is due to Sublessor’s or any other sublessee’s excess usage, then Sublessee will not be charged for the excess usage. Advance rent: Concurrently with Sublessee’s execution and delivery of the above-mentioned statementSublease, Sublessee shall pay to Sublessor the Full Service Rent payable by Sublessee for the month of January 2009, in the amount of seventeen thousand two hundred and seventy ($17,270) dollars.
Appears in 1 contract
Samples: Real Estate Sublease (Neomagic Corp)
Payment of Rent. The Annual Base Rent Tenant shall deliver to the 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 paid in equal consecutive monthly instalments in advance made on the first day of each the month in an amount equal to the monthly Base Rent and every month Occupancy Costs payment and any ancillary agreement such as, without limitation, parking or storage agreements, as it may be adjusted from time to time in accordance 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. Subject Term of this Lease, then the Tenant shall deliver a new executed authorization and voided cheque to section 4.3, enable the first monthly instalment Landlord to draw or issue a debit to the new account of the Annual Tenant for payment of monthly Base Rent shall be paid and Occupancy Costs payment. The Tenant further covenants and agrees to pay promptly, when billed, any amounts due under the terms of this Lease that are not specifically covered by the foregoing monthly debits. In the event that any debit issued by the Landlord and any cheque issued by the Tenant on the Commencement Date of the Term. The Landlord shall remit to not be honored by the Tenant’s bank or financial institution for any reason, before each Lease Yearthen, in addition to any other remedies the estimated amount of the Additional Rent (other than the portion thereof which Landlord may have, 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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 upon request, One Hundred Dollars (30$100.00) days following for each occurrence which amount represents the delivery estimated costs of processing the abovedishonored debit or cheque and re-mentioned statementdebiting the Tenant’s account or processing a replacement cheque.
Appears in 1 contract
Samples: Lululemon Corp.
Payment of Rent. The Annual term “Additional Rent” shall mean all amounts due under Section 2.02 for Operating Expenses and Taxes, and all other amounts (except Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject Rent) 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. The to 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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimateterms of this Lease, such Additional including without limitation payments to Landlord for reimbursement of any costs expended upon an Event of Default by Tenant. The term “Rent” shall mean Base Rent and Additional Rent. All payments of Rent shall be made without set-off, deduction or offset except as expressly provided in this Lease. All payments of Rent shall be made to Landlord at c/o Xxxxx Xxxxxx Management, Inc., c/o The Xxxxx Companies, 000 Xxxx Xxxxxx, Xxxxx 0000, Xxxxxx Xxxxxxxxxxxxx 00000, or as may be otherwise directed by Landlord in writing. Notwithstanding the Management Fee is paid in full during foregoing, Tenant may elect to make all payments required under the Lease by electronic payment using the Automated Clearing House system or other similar system. In such Lease Year event, Landlord agrees to provide to Tenant the required forms and information necessary to make such payments. Without limiting the foregoing, except as otherwise expressly provided for herein, Tenant’s obligation to pay Rent shall be absolute, unconditional, and independent and shall not be discharged or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit otherwise affected by any law or regulation now or hereafter applicable to the Demised Premises, or any other restriction on Tenant’s use, or, except as provided in Article 11, any casualty or taking, or any failure by Landlord to perform or other occurrence; and Tenant a statement indicating assumes the actual amount risk of the Additional Rent (other than foregoing and waives all rights now or hereafter existing to quit or surrender the portion thereof which Demised Premises or any part thereof, to terminate or cancel this Lease, or to assert any defense in the Tenant has paid directly nature of constructive eviction to third parties) and of the Management Fee for the said Lease Yearany action seeking to recover rent. 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 Subject to the provisions of this Lease, however, Tenant shall have the right to injunctive relief or to seek judgments for direct money damages occasioned by Landlord, then appropriate adjustments will be made within thirty ’s breach of its Lease covenants (30) days following the delivery of the abovebut may not set-mentioned statementoff any such judgment against any rent or other amount owing hereunder).
Appears in 1 contract
Samples: Lease (Aerovate Therapeutics, Inc.)
Payment of Rent. The Annual Base If the Market Rent shall be paid has not been agreed or determined in equal consecutive monthly instalments in advance on accordance with this clause 7 by the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment of Relevant Review Date then the Annual Base Rent payable immediately prior to that Relevant Review Date shall continue to be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which payable until such agreement or determination and within 14 days after such agreement or determination the Tenant shall pay directly the balance due (being the shortfall between the Annual Rent actually paid from the Relevant Review Date and the Market Rent as agreed or determined payable from that Relevant Review Date up to third partiesand including the day preceding the next ensuing quarter day) together with interest at 3% below Interest on such balance calculated on a daily basis and payable from the Relevant Review Date until the date of actual payment provided that in the event of such balance of rent or interest being outstanding at the expiration of the period of 28 days after the agreement or determination of the Market Rent then Interest will be forthwith payable thereon. Statutory rent restrictions If at any of the Review Dates the Landlord is required to comply with any enactment which restricts or modifies the Landlord’s right herein to revise the Annual Rent or which shall restrict the Landlord’s right to demand or accept payment of the full amount of the Annual Rent for the time being payable under this Lease then on each occasion that any such enactment is removed relaxed or modified the Landlord may on giving written notice to the Tenant call for a review of the Annual Rent as from the date of such notice (or such later date as may be specified therein) and of the Management Fee for that period, and the monthly payments of Additional Annual Rent and Management Fee which are payable from such date to the Landlord next succeeding Review Date shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant determined in accordance with this clause 7 as though the previous estimate, date of such Additional notice (or such later date as may be specified therein) were the Relevant Review Date. Rent review memorandum Any variation of the Annual Rent pursuant to this clause 7 shall when agreed or determined be recorded by a memorandum endorsed upon or annexed to this Lease and the counterpart hereof signed on behalf of the Landlord and the Tenant and each party shall bear its own costs in respect thereof. Time not of the essence Any delay in seeking the appointment of a valuer shall in no way prejudice the right to review the Annual 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 time shall remit to the Tenant a statement indicating the actual amount not be of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and essence in respect of the 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 any dates 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 delivery of the above-periods mentioned statementin this clause 7.
Appears in 1 contract
Samples: s3-eu-west-1.amazonaws.com
Payment of Rent. The Annual Except as otherwise expressly provided in this Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the 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. The to Landlord shall remit at its address recited in Section 27.7, or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and shall be paid without notice, demand, abatement, deduction or offset in legal tender of the Management Fee, and in such case shall notify United States of America. The Base Rent for the Tenant in writing first full calendar month of the re-evaluation and establish monthly payments Lease Term shall be paid upon execution by Tenant of this Lease. In addition, if the Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the unexpired period partial month shall be prorated on the basis of such the number of days during the applicable month and paid on or before the Lease Year Commencement Date. If the Lease Term commences or of such part only ends on other than the first or the last day of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 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 applicable Fiscal Year. All payments received by Landlord from Tenant shall remit be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a statement indicating 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 actual amount income or profits derived from the lease, use or occupancy of the Additional Rent (other than Premises. In the portion thereof which the Tenant has paid directly to third parties) and of the 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 event Landlord’s Mortgagee succeeds to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery ’s interests under this Lease and determines that all or any portion of the above-mentioned statementRent 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 payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Overstock Com Inc)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be paid by independent of every other covenant in this Lease; (iii) if during all or any portion of any year the Tenant on the Commencement Date Building is not fully rented and occupied (fully rented and occupied shall mean that one hundred percent (100%) of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount Rentable Square Feet of the Additional Rent Building is occupied by tenants), Landlord will make an appropriate adjustment of variable Expenses 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 for such year; (other 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 annual rate of five percentage (5%) points above the Prime Rate then in effect, but in no event higher than the portion thereof which maximum rate permitted by law (the "DEFAULT RATE"); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than ten (10) days after its due date equal to third partiesfive percent (5%) and of such payment; (v) if changes are made to this Lease or the Management Fee for that periodBuilding changing the number of square feet contained in the Premises or in the Building, 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 make an appropriate adjustment to Tenant's Proportionate Share; (vi) Tenant, or an independent firm retained by Tenant, shall have the right to inspect Landlord's accounting records relative to Expenses and Taxes during normal business hours at any time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent within one hundred eighty (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 (30180) days following the delivery furnishing to Tenant of the above-mentioned annual statement of Adjustment Rent (which annual statement will contain a calculation of Tenant's Proportionate Share, together with a listing of expenses by expense category); and, unless Tenant shall take written exception to any item in any such statement within such one hundred eighty (180) day period, such statement shall be considered as final and accepted by Tenant; provided, however, that if an inspection of Landlord's records reveals that Landlord has misstated Tenant's actual Proportionate Share of Expenses or Taxes (as reflected on Landlord's annual statement) by three percent (3%) or more, exclusive of any variance due to adjustments in variable Expenses due to the Building not being fully leased, Landlord shall reimburse Tenant the reasonable costs of such inspection (excluding travel and lodging) and Landlord shall promptly refund any overpayment due; (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 such calendar year.
Appears in 1 contract
Samples: Telxon Corp
Payment of Rent. The Annual Base following provisions shall govern the payment of --------------- Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar month or year, respectively, the Rent for the month/year in which this Lease so begins or ends shall be prorated and the monthly installment(s) shall be adjusted accordingly; (ii) all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base 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 the Building is not at least ninety-five percent (95%) occupied by tenants, Landlord may elect to make an appropriate adjustment of Expenses for such 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 deemed to have been the Expenses for such calendar year; (iv) any sum due from Tenant on the Commencement Date to Landlord which is not paid within five (5) days of the Term. The Landlord date the same is due shall remit to bear interest from the Tenant, before each Lease Year, date due until the estimated amount date paid at the annual rate of the Additional Rent prime rate of Fleet National Bank (other or any successor bank thereto), plus four percent (4%), but in no event higher than the portion thereof which maximum rate permitted by law (the "Default Rate"); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) business days after its due date equal to third partiesfive percent (5%) and of such payment; (v) if changes are made to this Lease or the Management Fee for that periodBuilding changing the number of square feet contained in the Premises or in the Building, 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 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 to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent within ninety (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 (3090) days following the delivery furnishing to Tenant of the above-mentioned statementannual 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; (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.
Appears in 1 contract
Payment of Rent. The Annual Except as otherwise expressly provided in this Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by to Landlord at its address recited in Section 27.7, or to such other person or at such other address in the Tenant on the Commencement Date of the Term. 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 that estimate. The United States as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and shall be paid without notice, demand, abatement, deduction or offset in legal tender of the Management Fee, and in such case shall notify United States of America. The Base Rent for the Tenant in writing first full calendar month of the re-evaluation Term shall be paid upon execution by Tenant of this Lease (and establish monthly payments for if the unexpired period of such Lease Year or of such part only of a Lease Yearcondition precedent in Section 3.1 is not satisfied, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 then Landlord shall remit return such amount to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 thereafter). In addition, if the delivery Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the partial month shall be prorated on the basis of the above-mentioned statementnumber of days during the applicable month and paid on or before the 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 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 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 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 payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Payment of Rent. Commencing one month after the Rent Commencement Date, Tenant agrees to pay to Landlord, as rent for the Premises, annual base rent (“Annual Base Rent”) during the Basic Term in an amount equal to the Total Cost multiplied by the Rent Constant as set forth in a Notice from Landlord to Tenant delivered not less than seven (7) days prior to the Rent Commencement Date. The determination of the Total Cost and Annual Base Rent set forth in such notice shall be binding on Tenant absent manifest error and shall be the amounts set forth in the Memorandum of Acceptance. The Annual Base Rent during any Renewal Term shall be determined as specified in Section 2.3. Such Annual Base Rent for the Basic Term shall be paid monthly beginning one month after the Rent Commencement Date and on or before the first Business Day of each calendar month thereafter for a period of 180 months. The monthly payment shall be determined by dividing the Annual Base Rent by twelve (12). The Annual Base Rent shall terminate at the end of 180 payments and thereafter there shall be no payments of Annual Base Rent for the balance of the Basic Term. Monthly installments of Annual Base Rent payable during Renewal Term(s) shall be paid in equal consecutive monthly instalments in advance on the first day Business Day of each and every calendar month during the Termapplicable Renewal Term(s). Subject to section 4.3If Substantial Completion of the Base Building Improvements occurs on or after the Outside Completion Date, the first monthly instalment parties acknowledge that the Contractor or insurers may be obligated to make certain liquidated damage payments, which shall be deposited into the Deficiency Account under the Loan Agreement and applied towards costs of the Project in accordance thereunder. Any such payments received by Landlord or Lender shall not reduce or otherwise affect, Tenant’s obligation to make payments of Annual Base Rent or any other amounts payable by Tenant hereunder. Tenant shall pay to Landlord (or as otherwise directed in writing by Landlord as to place and manner of payment) the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. 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 Facility Payment in the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of amounts, at the Management Fee, times and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement.manner set forth below:
Appears in 1 contract
Samples: Lease Agreement (Red Hat Inc)
Payment of Rent. The Annual Base All Rent shall be paid in equal consecutive monthly instalments 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 1g hereof or at such other place as Landlord may hereafter designate in writing, on the first day of each and every calendar month during the Term. Subject All such payments shall be made by good checks payable to section 4.3Landlord 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 first monthly instalment of the Annual 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 the 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 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 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 Tenant on terms of this Lease is not paid within five (5) days after the Commencement Date of date such payment is due, then in addition to paying the Term. 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 then due, Tenant shall pay directly to third partiesLandlord a late charge (the "Late Charge") and equal to five percent (5%) 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of Rent then required to be paid. Payment of such Additional Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and of the Management Fee then determined said check is returned by the bank unpaid, Tenant shall pay to Landlord be greater or less than the total sum of One Hundred Dollars ($100.00) to cover the amounts already paid by costs and expenses of processing the Tenant returned check, in addition to the LandlordRent payment and any other charges provided for herein. Any interest, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLate Charge and other amounts charged hereunder shall constitute Additional Rent.
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Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar month, respectively, the Rent for the month in which this Lease so begins or ends shall be prorated accordingly, and if this Lease commences or ends on a day other than the first day or last day of a calendar year, respectively, the Additional Rent for the year in which the Lease so begins or ends shall be prorated accordingly based on the number of days in such calendar year falling within the Term (and the monthly installments shall be adjusted accordingly); (ii) all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction (except as may be expressly provided herein), and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be paid independent of every other covenant in this Lease (without limiting, however, any setoff and/or abatement rights otherwise expressly set forth herein), and Tenant agrees to pay Rent due and owing hereunder by the Tenant on electronic transfer of funds from the Commencement Date of the Term. The Landlord shall remit Tenant's account to the TenantLandlord's account; (iii) if during all or any portion of any calendar year the Building is not one hundred percent (100%) rented and occupied, before each Lease YearLandlord may elect to make an appropriate adjustment of variable Expenses (i.e., those Expenses which vary with occupancy levels at the estimated amount of Building) for such year to determine the Additional Rent Expenses that would have been paid or incurred by Landlord had the Building been one hundred percent (other than 100%) rented and occupied for the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that periodentire year, and the monthly payments of Additional Rent and Management Fee amount so determined shall be deemed to have been the Expenses for such year; (iv) any sum due from Tenant to Landlord which are payable is not paid within five (5) business days after the same is due (provided, however, that Tenant shall be entitled to the Landlord shall then be established for said two (2) grace periods in each Lease Year based on that estimate. The Landlord may relative to late payment whereby making payment within ten (10) business days after the same is due shall be deemed timely paid) shall bear interest from the date due until the date paid at the annual rate of three percentage (3%) points above the rate then most recently announced by JPMorgan Chase in Chicago, Illinois as its prime or corporate base lending rate (such prime or corporate base lending rate then most recently announced, herein, the “Prime Rate”), from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and in effect, but in no event higher than the maximum rate permitted by law (the "Default Rate"); (v) in the event of the Management Feetermination of this Lease prior to the determination of any Additional Rent, Tenant's agreement to pay any such sums and Landlord's obligation to refund any such sums shall survive the termination of this Lease (provided that if Tenant is then in default, Landlord may offset the amounts reasonably necessary to cure such default or to otherwise satisfy Landlord's damages on account thereof against Landlord's obligation to refund sums to Tenant for over‑payment of Additional Rent); (vi) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed under the express terms of this Lease, and in such case which does not otherwise constitute a regularly scheduled monthly payment of Rent hereunder, shall notify the be due and payable by Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 after Landlord's delivery of a written notice or statement setting forth the amount which is so due; (vii) if Landlord fails to give Tenant an estimate of Additional Rent prior to the beginning of any calendar year, Tenant shall continue to pay Additional Rent at the rate for the previous calendar year until Landlord delivers such estimate, at which time Tenant shall pay retroactively the increased amount (or deduct from subsequent payments of Additional Rent any decreased amount) with respect to all previous months of such calendar year; and (viii) if Landlord receives a refund of Expenses or Taxes attributable to any calendar year for which Tenant has previously paid Tenant's Proportionate Share of such Expenses or Taxes, and no Default exists under this Lease, then Landlord, at its option, shall either (a) pay to Tenant, Tenant's Proportionate Share of the net amount of the Expense or Tax refund so received by Landlord (i.e., after Landlord's payment of any expenses and fees associated with obtaining such Expense or Tax refund), or (b) credit to Tenant, Tenant's Proportionate Share of the foregoing net Expense or Tax refund amount against Tenant's next Additional Rent payments otherwise due and owing under this Lease (provided that Landlord must elect option (a) above if the Term of this Lease has already expired, provided that in such case, any such payment shall only be required so long as Tenant has provided a forwarding address following the delivery expiration of the above-mentioned statementTerm).
Appears in 1 contract
Samples: Office Lease (Vivid Seats Inc.)
Payment of Rent. The Annual All Base Rent, Percentage Rent, Additional Rent and other sums shall be paid in equal consecutive monthly instalments in advance on the first day to Landlord without demand and without deduction, set-off, claim or counterclaim of each any nature whatsoever which Tenant may have or allege to have against Landlord. All such Rent and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent 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 at 000 X. Xxxxx Blvd, Winter Park, FL 32789, or such other person, firm or corporation as the Landlord may hereafter designate in writing. Tenant agrees to pay a Ten dollar ($10.00) processing fee for submitting payment via check, 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, Tenant shall make payments of Rent and all other payments to Landlord required by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent via Automated Clearing House Transfer (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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant “ACH Payment”); in accordance with the previous estimateterms and conditions of this Paragraph. If Landlord shall elect to have payments made by ACH Payment, Landlord shall provide notice to Tenant of same and Tenant shall, within fifteen (15) days of the date of such Additional notice from Landlord, execute and deliver to Landlord a complete Authorization Agreement in the form set forth in Exhibit I attached hereto or on such 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 Management Fee is paid in full during such Lease Year account Tenant designates for the ACH debit or during any other delay resulting from Tenant’s actions, subject to any cure period prescribed under this Lease, shall immediately and automatically be a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount default of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementLease.
Appears in 1 contract
Samples: Retail Lease Agreement
Payment of Rent. The Annual term “Additional Rent” shall mean all amounts due under Section 2.02 for Operating Expenses and Taxes, and all other amounts (except Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject Rent) 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. The to 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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimateterms of this Lease, such Additional including without limitation payments to Landlord for reimbursement of any costs expended upon an Event of Default by Tenant. The term “Rent” shall mean Base Rent and the Management Fee is paid Additional Rent. All payments of Rent shall be made without set-off, deduction or offset except as expressly provided in full during such Lease Year or during a part only this Lease. All payments of such Lease Year. After each Lease Year, Rent shall be made to the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined at c/o Xxxxx Xxxxxx Management, Xxx Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000, Attn: Xxxxx Xxxxxx, or as may be otherwise directed by the Landlord in writing, which may include a direction to pay by wire transfer to an account specified by Landlord. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be greater absolute, unconditional, and independent and shall not be discharged or less than otherwise affected by any law or regulation now or hereafter applicable to the total Premises, or any other restriction on Tenant’s use, or, except as provided in Article 11, any casualty or taking, or any failure by Landlord to perform or other occurrence; and, except as expressly provided in this Lease, Tenant assumes the risk of the amounts already paid by foregoing and waives all rights now or hereafter existing to quit or surrender the Tenant Premises or any part thereof, to terminate or cancel this Lease, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Subject to the provisions of this Lease, however, Tenant shall have the right to injunctive relief or to seek judgments for direct money damages occasioned by Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery ’s breach of the above-mentioned statementits Lease covenants.
Appears in 1 contract
Samples: Lease (Alkermes Inc)
Payment of Rent. The Annual Base Except to the extent that Rent shall is paid via ACH, such being processed pursuant to the immediately following paragraph below, Rent checks are to be paid made payable to Landlord, at 000 X. Xxxxx Blvd., Suite 315, Winter Park, FL 32789, or such other person, firm or corporation as the Landlord may hereafter designate in equal consecutive monthly instalments in advance writing. Tenant agrees to pay 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 day of each month and every month during considered late after the Term( ) day of that month. Subject to section 4.3, If the first monthly instalment rental payments are not made by the ( ) of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The month, Landlord shall remit to the may charge Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the and Tenant shall pay directly to third partiesas Additional Rent, a ( %) and of the Management Fee for that period, and the monthly payments of Additional percent late payment penalty. Any 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts not paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 after the delivery 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. 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 event of default, as otherwise provided in this Lease. Tenant is required to 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. Tenant shall, within fifteen (15) days of the above-mentioned statementdate 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 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 account Tenant designates for the ACH debit or any other delay resulting from Tenant’s actions, subject to any cure period prescribed under this Lease, shall immediately and automatically be a default of the Lease.
Appears in 1 contract
Samples: Office Lease
Payment of Rent. The Annual Except as otherwise expressly provided in this Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by to Landlord at its address recited in Section 27.7, or to such other person or at such other address in the Tenant on the Commencement Date of the Term. 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 that estimate. The United States as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and shall be paid without notice, demand, abatement, deduction or offset in legal tender of the Management Fee, and in such case shall notify United States of America. The Base Rent for the Tenant in writing first full calendar month of the re-evaluation and establish monthly payments Term shall be paid upon execution by Tenant of this Lease. In addition, if the Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the unexpired period partial month shall be prorated on the basis of such the number of days during the applicable month and paid on or before the Lease Year Commencement Date. If the Term commences or of such part only ends on other than the first or the last day of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 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 applicable Fiscal Year. All payments received by Landlord from Tenant shall remit be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a statement indicating 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 actual amount income or profits derived from the lease, use or occupancy of the Additional Rent (other than Premises. In the portion thereof which the Tenant has paid directly to third parties) and of the 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 event Landlord’s Mortgagee succeeds to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery ’s interests under this Lease and determines that all or any portion of the above-mentioned statementRent 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 payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be independent of every other covenant in this Lease; (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 two (2) percentage points above the rate then most recently announced by the Tenant on the Commencement Date First National Bank of the Term. The Landlord shall remit to the TenantChicago as its corporate base lending rate, 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 that estimate. The Landlord may from time to time during in effect, but in no event higher than the maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay Landlord a Lease Year re-evaluate late charge for any Rent payment which is paid more than five (5) days after its estimate due date equal to five percent (5 %) of such Additional Rent payment; (iv) 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; (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 Management Feeannual statement of Rent Adjustment; and, unless Tenant shall take written exception to any item in any such statement within fifteen (15), such statement shall be considered as final and accepted by Tenant; (vi) in the event of the termination of this Lease prior to the determination of any Adjustment Rent, Tenant’s agreement to pay any such case sums and Landlord’s obligation to refund any such sums (provided Tenant is not in default hereunder) shall notify 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 writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 Base Rent shown on the Schedule; (viii) Landlord may at any time change the fiscal year of the amounts already paid by Building; (ix) 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 (x) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the Landlordbeginning of any calendar year, then appropriate adjustments will be made within thirty (30) days following Tenant shall continue to pay Adjustment Rent as the delivery of case may be, at the above-mentioned statementrate for the previous calendar year until Landlord delivers such estimate.
Appears in 1 contract
Samples: Office Lease (Addus HomeCare Corp)
Payment of Rent. The Annual Base Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar 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 at Landlord's address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, bill Xxxant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate bill xxxll relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional 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 and of shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. Notwithstanding to the Management Feecontrary set forth herein, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments Base Rental for the unexpired period of such first (1st) full calendar month during the Lease Year or of such part only of a Term shall be abated. If the Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third partiesat the rental rate applicable during the second (2nd) and full month of the Management Fee Lease Term. Any such prorated Base Rental, plus the Base Rental due for the said Lease Year. Should the amount of such Additional Rent and second (2nd) full month of the Management Fee then determined by Lease Term, shall be due and payable on the Landlord be greater first (1st) day of the second (2nd) calendar month during the Lease Term. If the Lease Term commences or less ends at any time other than the total 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 amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Samples: Office Lease Agreement (Caprock Communications Corp)
Payment of Rent. The Annual Base Rent All rent shall be paid in equal consecutive monthly instalments 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 1g hereof or at such other place as Landlord may hereafter designate in writing, on the first day of each and every calendar month during the Term. Subject All such payments shall be made by good checks payable to section 4.3Landlord 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 first monthly instalment of the Annual Monthly Base Rent or Additional Rent shall be 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 prejudice to the Landlord's right to recover the balance due and payable or to pursue any other remedy provided in this Lease 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. If any amount of Rent required to be paid by Tenant to Landlord under the Tenant on terms of this Lease is not paid within five (5) days after the Commencement Date of date such payment is due, then in addition to paying the Term. 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 then due, Tenant shall pay directly to third partiesLandlord a late charge (the "Late Charge") and equal to five percent (5%) 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of Rent then required to be paid. Payment of such Additional Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and of the Management Fee then determined said check is returned by the bank unpaid, Tenant shall pay to Landlord be greater or less than the total sum of ($ ) to cover the amounts already paid by costs and expenses of processing the Tenant returned check, in addition to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementRent 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: Work Agreement
Payment of Rent. The Annual Base All Rent shall be paid in equal consecutive monthly instalments 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 writing, on the first day of each and every calendar month during the Term. Subject All such payments shall be made by good checks payable to section 4.3Landlord 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 first monthly instalment of the Annual 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 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 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 Tenant on terms of this Lease is not paid within five (5) days after the Commencement Date of date such payment is due, then in addition to paying the Term. 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 then due, Tenant shall pay directly to third partiesLandlord a late charge (the “Late Charge”) and equal to four percent (4%) 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of Rent then required to be paid; provided, however, that Landlord agrees to waive the first (1st) such Additional Late Charge in any Lease Year during the Term, 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 and of the Management Fee then determined said check is returned by the bank unpaid, Tenant shall pay to Landlord be greater or less than the total sum of Seventy-Five Dollars ($75.00) to cover the amounts already paid by costs and expenses of processing the Tenant returned check, in addition to the LandlordRent payment and any other charges provided for herein. Any interest, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLate Charge and other amounts charged hereunder shall constitute Additional Rent.
Appears in 1 contract
Samples: Work Agreement (K12 Inc)
Payment of Rent. The Annual 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) if Sublandlord's obligation to pay Rent (as such term is defined in equal consecutive monthly instalments in advance on the first day of each and every month during Main Lease) under the Term. Subject Main Lease shall be abated for a reason that is also applicable to section 4.3the Sublet Premises (i.e., the first monthly instalment 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 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 (c) if Sublandlord receives any reimbursements for any payment of Direct Expenses under the Main Lease,, Sublandlord shall pay to Subtenant within 30 days of such receipt Subtenant's Proportionate Share of the Annual Base amount reimbursed to Sublandlord. Rent shall shad be paid to Sublandlord by Subtenant at the Tenant on the Commencement Date address of the Term. The Landlord shall remit Sublandlord set forth in Section 26 below or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The Landlord person and/or at such other address as Sublandlord may from time to time during a Lease Year re-evaluate its estimate designate by notice to Subtenant. No payment by Subtenant or receipt by Sublandlord of such Additional Rent and any lesser amount than the amount stipulated to be paid hereunder shall be deemed other than on account of the Management Feeearliest stipulated Rent due under this Sublease; nor shall any endorsement or statement on airy check or letter be deemed an accord and satisfaction, and in such case shall notify Sublandlord may accept any check or payment without prejudice to Sublandlord's right to recover the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year balance due or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (pursue any other than the portion thereof which the Tenant has paid directly remedy available to third parties) and of the 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 delivery of the above-mentioned statementSublandlord.
Appears in 1 contract
Samples: American Technology Corp /De/
Payment of Rent. The Annual Except as otherwise expressly provided in this Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by to Landlord at its address recited in Section 27,7, or to such other person or at such other address in the Tenant on the Commencement Date of the Term. 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 that estimate. The United States as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Except as otherwise expressly provided in this Lease, Rent and shall be paid without notice, demand, abatement, deduction or offset in legal tender of the Management Fee, and in such case shall notify United States of America. The Base Rent for the Tenant in writing first full calendar month of the re-evaluation and establish monthly payments Lease Term shall be paid upon execution by Tenant of this Lease. In addition, if the Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the unexpired period partial month shall be prorated on the basis of such the number of days during the applicable month and paid on or before the Commencement Date. If the Lease Year Term commences or of such part only ends on other than the first or the last day of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 Fiscal Year, the Additional Rent for the partial Fiscal Year calculated as provided in Section 5.3 above shall be prorated on the basis of the number of days during the applicable Fiscal Year. All payments received by Landlord from Tenant shall remit be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a statement indicating 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 actual amount income or profits derived from the lease, use or occupancy of the Additional Rent (other than Premises. In the portion thereof which the Tenant has paid directly to third parties) and of the 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 event Landlord’s Mortgagee succeeds to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery ’s interests under this Lease and determines that all or any portion of the above-mentioned statementRent 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 payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Skullcandy, Inc.)
Payment of Rent. The Annual Base Rent shall be paid quarterly in equal consecutive monthly instalments in --------------- advance on the first day of each January, April and every month during July for the Term. Subject to section 4.3second, third and fourth quarters of each Lease Year and on the thirtieth (30th) day of October for the first monthly instalment quarter of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, . On or before the estimated amount thirtieth (30th) day after the expiration of each 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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only first three quarters of a Lease Year, so Tenant shall deliver to Landlord (i) Tenant's calculation of the Adjusted Gaming Win actually received by Tenant during such quarter (on an amortized basis) and the Percentage Rent due for such quarter, all certified as true and correct in all material respects by Tenant, and (ii) payment of eighty percent (80%) of the amount of Percentage Rent due for the most recently concluded quarterly period, along with a payment as adjusted by such amount as is necessary to bring the total amount paid by Tenant on account of Percentage Rent for the Lease Year in question up to an amount equal to eighty percent (80%) of the Percentage Rent that is due based on the Adjusted Gaming Win actually received by Tenant for all quarters in Lease Year that have been completed. On or before the thirtieth (30th) day after the Tenant is credited with expiration of the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such fourth quarter of each Lease Year or during a part only the Lease Term, Tenant shall deliver to Landlord (i) Tenant's calculation of the Adjusted Gaming Win actually received by Tenant for the Lease Year just completed, certified as true and correct in all material respects by Tenant, and (ii) payment of such amount as is necessary to bring the total amount paid to Landlord for Percentage Rent up to an amount equal to one hundred percent (100%) of the Percentage Rent due for the Lease Year most recently completed based on the actual Adjusted Gaming Win for such Lease Year. After each Lease Year, the Landlord All rent shall remit to the Tenant a statement indicating the actual amount be paid in lawful money of the Additional United States to Landlord at its address set forth for notices in paragraph 17.3, or to such other place as Landlord may designate from time to time in writing, without abatement, deduction, offset or prior demand therefor, except as otherwise expressly provided in this Lease. Annual Base Rent (other than the portion thereof which the Tenant has paid directly to third parties) and Percentage Rent shall be prorated as of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and commencement or expiration or earlier termination 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 delivery of the above-mentioned statementLease Term.
Appears in 1 contract
Samples: Hollywood Park Inc/New/
Payment of Rent. The Annual Base All payments of monthly Rent shall must be paid in equal consecutive monthly instalments in advance made by check, cashier’s check, money order (with apartment unit clearly identified on the first day check), automatic clearing house process (“ACH”)(Landlord will provide ACH set up information upon request), or credit card. Credit Card payments will incur an online transaction fee of each and every month 2.5% transaction amount. No cash will be accepted. Credit Card payments must be made via Landlord’s Website. Landlord reserves the right to require all payments of monthly Rent to be made by ACH or other form of automated payment at any time after: (i) a monthly Rent or other payment to Landlord that is more than five (5) days late; (ii) any check is returned by Tenant’s bank (for any reason); or (iii) Tenant is in default under this Lease (for any reason) on a second occasion during the Term. Subject In such case, Landlord will provide Tenant written notice, including ACH set-up instructions. Tenant will promptly set up an ACH for the payment of monthly Rent. IF CHECKS ARE RETURNED FROM A BANK OR PAYMENT DENIED BY A CREDIT CARD MERCHANT FOR ANY REASON WHATSOEVER, A SERVICE FEE OF THIRTY DOLLARS ($30.00), OR SUCH HIGHER FEE AS PERMITTED BY STATUTE, WILL BE CHARGED TO THE TENANT. Failure to section 4.3, comply with Xxxxxxxx’s ACH policies within ten (10) business days after written notice from Landlord will be deemed a default under this Lease. LATE MONTHLY RENT PAYMENTS ARE SUBJECT TO A TWENTY DOLLAR ($20.00) HANDLING FEE AND LEGAL ACTION MAY BE TAKEN ONE (1) DAY AFTER THE RENT DUE DATE SET FORTH IN SECTION 2 OF THE LEASE. The late fee will automatically be charged to Xxxxxx’s account on the first monthly instalment 5th day of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof month in which the Tenant shall pay directly Rent payment is due. In the event any handling fee referred to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which in this paragraph or charges described in this Lease are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 Yearnot timely paid, the Landlord may consider the handling fee or charges to be additional Rent, which shall remit to be immediately due and payable, and Landlord may deduct them from the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementTenant's security deposit.
Appears in 1 contract
Samples: Properties Lease Agreement
Payment of Rent. The Annual Base following provisions shall govern the payment of --------------- Rent: (i) 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base 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 and/or Taxes 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 on to Landlord which is not paid within five days after its due date shall bear interest from the Commencement Date date due until the date paid at the annual rate of the Term. The Landlord shall remit to the Tenant14% per annum, before each Lease Year, the estimated amount of the Additional Rent (other but in no event higher than the portion thereof which maximum rate permitted by law (the "Default Rate"); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five days after its due date equal to third parties5% 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, upon reasonable prior written notice to Landlord, to inspect Landlord's accounting records relative to Expenses and Taxes during normal business hours at any time within 60 days following the furnishing to Tenant of the Management Fee for that annual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such 60-day period, such statement shall be considered as final and accepted by Tenant. Tenant must timely pay all Adjustment Rent billed by Landlord pending the monthly payments outcome of Additional Rent and Management Fee which are payable its inspection or any audit of Landlord's accounting 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 an independent certified public accounting firm selected by Landlord, but subject to Tenant's reasonable approval, which audit shall be final and conclusive. If the results of such audit reveal that Tenant has overpaid or underpaid Adjustment Rent for the applicable year, Landlord shall then be established for said Lease Year based on that estimate. The pay to Tenant such overpayment or Tenant shall pay to Landlord may from time to time during a Lease Year re-evaluate its estimate such underpayment, as applicable, within 30 days after the results of such Additional Rent and audit are reported to the parties. Tenant agrees to pay the entire cost of such audit unless it is determined that Landlord's original determination of the Management FeeAdjustment Rent for the year in issue was in error by more than 5%, in which case Landlord agrees to pay one-half of 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 such case default hereunder) shall notify 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 writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 Base Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the amounts already paid by 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 Landlordbeginning of any calendar year, then appropriate adjustments will be made within thirty (30) days following Tenant shall continue to pay Adjustment Rent at the delivery of rate for the above-mentioned statementprevious calendar year until Landlord delivers such estimate.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Payment of Rent. The Annual Base On or before the date which is five (5) 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 paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject deemed 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. 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 include without limitation obligations for that period, and the monthly payments of Additional Rent and Management Fee which are payable to any other payments due by Tenant) under the Landlord shall then be established Lease for said Lease Year based on that estimatethe period between the First Amendment Effective Date and the Effective Termination Date, and as otherwise set forth herein. The Deposit shall be in the Letter of Credit Amount, as hereinafter defined. The Deposit shall be in the form of an unconditional and irrevocable letter of credit (the "Letter of Credit"): (i) substantially in form attached hereto as Exhibit A, (ii) naming Landlord may as beneficiary, (iii) expressly allowing Landlord to draw upon it at any time from time to time during 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, (v) redeemable by presentation of a Lease Year re-evaluate sight draft in the state of California, and (vi) having an expiration date of March 31, 2004. The "Letter of Credit Amount" shall be $4,130,000.00, reduced by the amount of any payments which Tenant pays, or has paid, to Landlord on account of Rent for the period commencing as of June 1, 2003 and ending on the date Tenant delivers the Letter of Credit to Landlord. The Deposit shall be held by Landlord for the payment of Rent under the Lease. Tenant shall continue to be responsible for the payment of its estimate 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 such 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 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 Tenant or to clean the Premises, it being agreed that Landlord may draw upon the Letter of Credit for the payment of Rent and of other charges payable under the Management FeeLease, and in such case the Termination Payment, as hereinafter defined. If Tenant exercises the Termination Option, Tenant shall notify have no further obligation to pay Rent beyond the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual 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 (other than under the portion thereof which the Tenant has paid directly to third parties) and Lease payable in consideration of Tenant's exercise of the Management Fee for Termination Option. If Tenant does not elect to exercise 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 LandlordTermination Option, then appropriate adjustments will be made within thirty (30) days following Landlord shall continue to draw monthly Rent from the delivery of Deposit until the above-mentioned statementDeposit is exhausted, and Tenant shall thereafter pay Rent as set forth in the Lease.
Appears in 1 contract
Samples: Lease Agreement (Lion Bioscience Ag)
Payment of Rent. The Annual Tenant shall pay the Base Rent shall be paid and Tax and Operating Expense Rent (as provided in Section 4.5.2 below) in equal consecutive monthly instalments installments (each, a “Rent Installment”) in advance commencing on the Rent Commencement Date, with respect to the Taxes and Operating Expense Rent, and the Rent Commencement Date, with respect to the Base Rent, and on the first day of each and every month thereafter during the Term. Subject to section 4.3; provided, however, if the Rent Commencement Date is other than the first day of a calendar month, the first monthly instalment installment of Taxes and Operating Expense Rent for such partial month shall be prorated in the Annual Base proportion that the number of days this Lease is in effect during such partial month bears to the total number of days in the calendar month. Tenant shall make all Rent Installments by means of ACH transfer for value of federal funds to Landlord, or other form of electronic funds transfer approved by Landlord in writing. All Rent, and all other amounts payable to Landlord by Tenant pursuant to the provisions of this Lease, shall be paid by to Landlord, without notice, demand, abatement, deduction or offset (except to the Tenant on the Commencement Date extent expressly provided in this Lease), in lawful money of the Term. The Landlord shall remit United States at Landlord’s office in the Building or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The Person or at such other place as Landlord may designate from time to time during by written notice given to Tenant. No payment by Tenant or receipt by Landlord of a lesser amount than the correct Rent Installment due hereunder 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 to effect or evidence an accord and satisfaction; and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance or pursue any other remedy in this Lease Year re-evaluate its estimate or at law or in equity provided. Tenant specifically waives herein all rights to demand, protest, notice or presentment, if any. If Tenant makes any payment to Landlord by check, the same shall be by check of such Additional Rent and of the Management FeeTenant only, and Landlord shall not be required to accept the check of any other person, and any check received by Landlord shall not be deemed to have satisfied Tenant’s obligation to pay the Rent Installment to which such check pertains until such check has cleared and Landlord is in receipt of good funds. If any check is mailed by Tenant, it must be mailed to Landlord’s Notice Address and Tenant shall post such case shall notify check in sufficient time prior to the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, date when payment is due so that after such check will be received by Landlord and cleared by Landlord’s bank for payment on or before the Tenant date when payment is credited with the appropriate due. Any amounts required to be paid by the Tenant in accordance with the previous estimateto or on behalf of Landlord under this Lease shall constitute rent due under this Lease and, 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 remit to the Tenant extent such amounts do not constitute Base Rent, are included within the definition of “Additional Rent”. Tenant’s covenant to pay Rent shall be independent of every other covenant in this Lease, except that any non-scheduled payment required and due under this Lease, where there is a statement indicating the actual amount of the Additional Rent (other than the portion thereof stipulated time frame within which the Tenant has paid directly to third parties) it is due, shall be due and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent payable on that time frame 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 delivery of the not immediately as stated above-mentioned statement.
Appears in 1 contract
Samples: Lease Agreement (1847 Goedeker Inc.)
Payment of Rent. The Annual All Base Monthly Rent and Additional Rent shall be paid in equal consecutive monthly instalments 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 advance 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 each the month respectively, Tenant's obligation to pay Base Monthly Rent and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base all Additional Rent shall be paid by prorated to the Tenant on actual occurrence dates for the Commencement Date month(s) in which the commencement and/or expiration dates of the TermLease so occur. The Landlord Except as otherwise expressly set forth herein, Tenant shall remit to the Tenant, before each Lease Year, the estimated amount of the make all Rent and Additional Rent payments online via the Landlord's online Tenant Web Access (TWA) portal (or such 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 that estimate. The online method as Landlord may from time to time during a Lease Year re-evaluate its estimate require upon the giving of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 at least thirty (30) days following days’ notice to Tenant), including tenant’s initial Rent and Security Deposit payment. Landlord reserves the delivery right to block any such online payments in the event that Tenant is in default hereunder (in such case, amounts payable by Tenant must be tendered in the form of the above-mentioned statementa money order, cashier’s check, or certified funds) and/or to restrict Tenant’s ability to tender any partial payments utilizing any such online portal. If Tenant fails to make payments online, Tenant shall incur an additional charge of $40 for added processing.
Appears in 1 contract
Samples: Lease
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent and Adjustment Reimbursables: (i) 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 in equal consecutive monthly instalments in advance on the first day of each and every month during the 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. 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 periodwithout offset or deduction, and the monthly payments of Additional covenant to pay Rent and Management Fee which are Adjustment Reimbursables shall be independent of every other covenant in this Lease, and all Rent and Adjustment Reimbursables shall be payable to the Landlord shall then be established for said Lease Year based on that estimate. The and addressed as follows: Matrix Crossroads, LLC 1000 Xxxxxxxx Xxxxxxx Xxxxx 00, Xxxxxxxxx, X.X. 00000 (or to 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 during in effect, but in no event higher than the maximum rate permitted by law (the “Interest Rate”); and, in addition, Tenant shall pay Landlord a Lease Year re-evaluate late charge for any Rent or Adjustment Reimbursable payment which is paid more than five days after its estimate due date equal to five percent (5%) of such Additional Rent payment; (iv) if changes are made to this Lease or the Property changing the number of square feet contained in the Premises or in the Property, Landlord shall make an appropriate adjustment to Tenant’s Property Share and Tenant’s Single-Story Building Share, as applicable; (v) in the event of the Management Feetermination of this Lease prior to the determination of any Adjustment Reimbursables, Tenant’s agreement to pay any such sums and Landlord’s obligation to refund any such sums (provided Tenant is not in such case default hereunder) shall notify survive the termination of this Lease; (vi) no adjustment to the Rent by virtue of the operation of the adjustment provisions in this Lease shall result in the payment by Tenant in writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 Base Rent shown on the Schedule; (vii) Landlord may at any time change the fiscal year of the amounts already paid by 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 Landlordbeginning of any calendar year, then appropriate adjustments will be made within thirty (30) days following Tenant shall continue to pay Adjustment Reimbursables at the delivery of rate for the above-mentioned statementprevious calendar year until Landlord delivers such estimate.
Appears in 1 contract
Payment of Rent. The Annual Tenant shall pay, without prior notice or demand, to Landlord’s agent at the management office of the Project or at such place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, 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 shall be paid Rent”) as set forth in Section 4 of the Summary, payable in equal consecutive monthly instalments installments as set forth in advance Section 4 of the Summary, in advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever, except as may be expressly set forth in this Lease. Subject to section 4.3Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease 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 period which is shorter than one month, the first monthly instalment Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Annual 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 paid 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 on assumes the Commencement Date risk of the Term. The Landlord shall remit foregoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the TenantPremises or any part thereof (absent a judicial order providing for such termination or cancellation), before each Lease Year, or to assert any defense in the estimated amount nature of constructive eviction (in which Tenant asserts that its use and enjoyment of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Premises has been disrupted due to third parties) and any entry by Landlord 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant Premises in accordance with Section 27.2 of this Lease, any renovation of the previous estimate, such Additional Rent and Project or any casualty or condemnation affecting 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 remit Project) 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 a statement indicating hereby waives the actual amount benefit of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 any statute or less than the total of the amounts already paid by the Tenant judicial law to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementcontrary.
Appears in 1 contract
Samples: Lease (Vir Biotechnology, Inc.)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) 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) except as may be specifically provided to the contrary elsewhere in this Lease, all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be paid by independent of every other covenant in this Lease; (iii) if during all or any portion of any year the Tenant on the Commencement Date of the Term. The Building is not fully rented and occupied, Landlord shall remit make an appropriate adjustment of variable Expenses for such year to determine the Tenant, before each Lease Year, Expenses that would have been paid or incurred by Landlord had the estimated amount of Building been fully rented and occupied for 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, entire year and the monthly payments amount so determined shall be deemed to have been the Expenses 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 annual rate of Additional Rent and Management Fee which are payable to two percentage (2%) points above the Landlord shall rate then be established for said Lease Year based on that estimate. most recently announced by The Landlord may First National Bank of Chicago, NBD, as its corporate base lending rate, from time to time during in effect, but in no event higher than the maximum rate permitted by law (the "Default Rate"); and, in addition, Tenant shall pay Landlord a Lease Year re-evaluate late charge for any Rent payment which is paid more than five (5) days after its estimate due date equal to five percent (5%) of such Additional Rent and payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Management FeePremises or in the Building, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit make an appropriate adjustment to Tenant's Proportionate Share; (vi) Tenant shall have the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly right to third parties) inspect Landlord's accounting records relative to Expenses and of the 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 Taxes during normal business hours at any time within thirty (30) days following the delivery furnishing to Tenant of the above-mentioned statementannual 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 such calendar year.
Appears in 1 contract
Samples: Office Space Lease (Mdsi Mobile Data Solutions Inc /Can/)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) payment of rent shall commence on the Term Commencement Date (“Rent Commencement Date”); (ii) if this Lease ends on a day other than the last day of a month, the Rent for the month in which this Lease ends shall be prorated; (iii) all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction except as otherwise set forth herein, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be independent of every other covenant in this Lease; (iv) any sum due from Tenant to Landlord that is not paid when due shall bear interest from the date due until the date paid at the annual rate of two percentage (2%) points above the rate then most recently announced by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the TenantJPMorgan Chase as its corporate base lending rate, 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 that estimate. The Landlord may from time to time during in effect, but in no event higher than the maximum rate permitted by law (the “Default Rate”) and, in addition, Tenant shall pay Landlord a Lease Year re-evaluate late charge for any Rent payment that is paid more than ten (10) days after its estimate due date and after written notice from Landlord equal to ten percent (10%) of such Additional Rent and payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Management FeePremises or in the Building, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant shall have the Tenant a statement indicating the actual amount of the Additional Rent right to inspect Landlord’s accounting records relative to Expenses and Taxes during normal business hours at any time within one hundred twenty (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 (30120) days following the delivery furnishing to Tenant of the above-mentioned statement.annual statement of Adjustment Rent and, if Tenant shall take written exception within said one hundred twenty (120) day period, Landlord and Tenant shall engage an independent auditor to examine Landlord’s accounting records relative to the item(s) of Taxes and/or Expenses that Tenant so questioned and the Adjustment Rent shall be adjusted based upon the findings of such auditor. If, upon review of Landlord’s records with respect to the questioned item(s), such auditor finds that the amount of Taxes and/or Expenses set forth in Landlord’s annual statement of Adjustment Rent exceeds the actual proportion of Taxes and/or Expenses for the applicable calendar year by more than five percent (5%), Landlord shall pay the cost of engaging such auditor; (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) 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 such calendar year; and (x) Landlord shall have no right to increase the amount of Rent payable hereunder as a result of any remeasurement of either the Building or the Premises. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Blackhawk Lease Deer Valley Corporate Center Phoenix, AZ
Appears in 1 contract
Samples: Office Space Lease (Blackhawk Network Holdings, Inc)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar month, the Rent for the month in which this Lease so begins or ends shall be prorated and adjusted accordingly; (ii) all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base 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 on to Landlord which is not paid when due shall bear interest from the Commencement Date date due until the date paid at the annual rate of eighteen percent (18%) or the Term. The Landlord shall remit to maximum rate permitted by law, whichever is less (the Tenant"Default Rate"); and, before each Lease Yearin addition, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five days after its due date equal to third partiesfive 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 furnishing to Tenant of the Management Fee for that annual statement of 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 monthly payments event of Additional Rent and Management Fee which are payable the termination of this Lease prior to the Landlord 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 then be established for said Lease Year based on that estimate. The Landlord may from time survive the termination of this Lease; (viii) no adjustment to time during a Lease Year re-evaluate its estimate of such Additional the Rent and by virtue of the Management Fee, and operation of the rent adjustment provisions in such case this Lease shall notify result in the payment by Tenant in writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 Base Rent set forth in Item B of the amounts already paid by 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 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 Landlordbeginning of any calendar year, then appropriate adjustments will be made within thirty (30) days following Tenant shall continue to pay Adjustment Rent, as the delivery of case may be, at the above-mentioned statementrate for the previous calendar year until Landlord delivers such estimate.
Appears in 1 contract
Payment of Rent. 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 Annual Base Rent shall be paid at the times and in equal consecutive monthly instalments the amounts provided for herein in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment legal tender of the Annual Base Rent shall be paid by United States of America to Landlord at the Tenant on the Commencement Date of the Term. The Landlord shall remit address specified above or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate designate in writing. The Rent shall be paid without notice, demand, abatement, deduction, or offset except as may be expressly set forth in this Lease. Landlord shall, at its estimate option, have the right to collect from Tenant, five cents ($.05) for each dollar ($1.00) of such Additional each installment of Rent and of the Management Feewhich is not received within five (5) days after its due date for any reason whatsoever (notwithstanding any notice requirement hereunder, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third partiesif any) and Tenant agrees to pay such amount immediately on demand as liquidated damages to cover the additional costs of the Management Fee for the said Lease Yearcollecting and processing such late payments. Should Any payment which is fess than the amount of Rent then due shall constitute a payment made on account thereof, the parties hereto agreeing that the Landlord's acceptance of that payment shall not alter or impair the Landlord's rights under this Lease to be paid all of such Additional amounts then due, or in other respect. Tenant acknowledges that the late payment by Tenant to Landlord of Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and such late charges represent a fair and reasonable estimate of the Management Fee then determined cost that Landlord will incur by the Landlord be greater or less than the total reason of the amounts already paid late payment by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.Tenant,
Appears in 1 contract
Samples: Lease (TaxMasters, Inc.)
Payment of Rent. The Annual following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar month, respectively, the Monthly Base Rent for the month in which this Lease so begins or ends shall be prorated; if this Lease commences or ends on a day other than the first day or last day of a calendar year, respectively, the Adjustment 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, except as otherwise expressly set forth herein, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be paid by the Tenant on the Commencement Date independent of every other covenant in this Lease; (iii) if during all or any portion of any year at least 95% of the Term. The rentable area of the Complex is not fully rented and occupied, Landlord shall remit make an appropriate adjustment of Expenses for such year to determine the Expenses that would have been paid or incurred by Landlord had the rentable area of the Complex been 95% rented and occupied for the entire year with all tenants paying full rent and the amount so determined shall be deemed to have been the Expenses for such year. If during all or any portion of any year the Complex is not fully assessed for purposes of determining Taxes, Landlord shall make an appropriate adjustment of Taxes for such year to determine the Taxes that would have been paid had the Complex been fully assessed for the entire year and the amount so determined shall be deemed to have been the 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 an annual rate equal to the TenantPrime Rate plus 2% (the “Prime Rate” shall mean the rate then most recently published in the Wall Street Journal as the “Prime Rate” or, before each Lease Yearif the Wall Street Journal no longer publishes such information, the estimated amount of the Additional Rent (other a comparable source reasonably selected by Landlord), but in no event higher than the portion thereof which maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) business days after its due date equal to third parties5% of such payment (provided Tenant shall not be liable for such 5% late charge the first two (2) times Tenant fails to timely pay Rent when due in any calendar year unless, with respect to each such incidence, such failure continues for more than five (5) days after written notice); (v) if changes are made to this Lease or the Complex changing the number of square feet contained in the Premises or in the Complex, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant shall have the right, upon reasonable prior written notice to Landlord, to inspect Landlord’s accounting records relative to Expenses and Taxes during normal business hours at any time within one hundred eighty (180) days following the furnishing to Tenant of the Management Fee for that annual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such one hundred eighty (180) day period, such statement shall be considered as final and accepted by Tenant. Notwithstanding the monthly payments foregoing, if Tenant audits the Taxes or Expenses and discovers an error of Additional Rent and Management Fee which are payable greater than three percent (3%), Tenant shall have a right to audit prior years’ statements for errors relating to the same items. Tenant must timely pay all Adjustment Rent billed by Landlord pending the outcome of its inspection or any audit of Landlord’s accounting 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 an independent certified public accounting firm selected by Tenant and reasonably acceptable to Landlord, which audit shall be final and conclusive. If the results of such audit reveal that Tenant has overpaid or underpaid Adjustment Rent for the applicable year, Landlord shall then be established for said Lease Year based on that estimate. The pay to Tenant such overpayment or Tenant shall pay to Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Feeunderpayment, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Yearas applicable, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 after the results of such audit are reported to the parties. 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 three percent (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 Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the Building with notice to Tenant; (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the last to occur of (x) the same date as the Rent listed on the statement showing such amount is due and (y) thirty (30) days after delivery of the above-mentioned statement; (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 such calendar year or Landlord shall credit any overpayment against Rent next coming due, as applicable; and (xii) Tenant shall be responsible for paying any recordation tax incurred with respect to recording a memorandum of this Lease, if requested by Tenant.
Appears in 1 contract
Samples: Work Letter Agreement (Gtsi Corp)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base 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 Taxes for such year to determine the Taxes that would have been paid or incurred by Landlord had the Tenant on Building been fully rented and occupied for the Commencement Date of the Term. 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, entire year and the monthly payments amount so determined shall be deemed to have been the 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 annual rate of Additional Rent and Management Fee which are payable to two (2) percentage points above the Landlord shall rate then be established for said Lease Year based on that estimate. The Landlord may most recently announced by JPMorgan Chase Bank, NA as its corporate base lending rate, from time to time during in effect, but in no event higher than the maximum rate permitted by law (the “Default Rate”) and, in addition Tenant shall pay Landlord a Lease Year re-evaluate late charge for any Rent payment which is paid more than five days after its estimate due date equal to five percent of such Additional Rent payment; (v) if changes are made to this Lease or the Building changing the number of rentable 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 Tenant’s Exterior CAM Expenses and Taxes during normal business hours at any time within thirty days following the furnishing to Tenant of the Management Feeannual statement of Adjustment Rent as it relates to the Taxes covered in such statement, and unless Tenant shall take written exception to any item in any such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of statement within such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 day period, such statement shall be considered as final and accepted by Tenant; (vii) in the delivery event of the above-mentioned statementtermination 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 Taxes 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 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 previous calendar year until Landlord delivers such estimate.
Appears in 1 contract
Payment of Rent. The Annual 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 sent by wire transfer pursuant to the instructions set forth in Section 1.01(o) 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. Rent other than Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each a manner mutually agreeable to Landlord and every month during the TermTenant. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Landlord and Tenant on the Commencement Date of the Term. 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 that estimate. The Landlord may from time to time during mutually agree to an alternative manner of payment of any portion of Rent. The Rent shall be paid without notice, demand, abatement, deduction, or offset except as may be expressly set forth in this Lease. Upon execution of this Lease, Tenant shall pay to Landlord an amount equal to $172,500, which shall be applied to the first month's Base Rent due hereunder on the first Rental Commencement Date. Tenant shall pay to Landlord a Lease Year re-evaluate its estimate late charge equal to five percent (5%) of 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 Additional Rent late charge by Landlord shall be in addition to and cumulative of any and all other remedies available to such party. It is the Management Feeintention of Landlord and Tenant to conform to all applicable laws concerning the contracting for, charging and in 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 case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts excess paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such other party against any amount owing under this Lease Year or during a part only of such if all amounts owning under this Lease Year. After each Lease Yearhave been paid, the Landlord charging party shall remit refund to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should party the amount of such Additional Rent 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 the Management Fee then determined by the Landlord be greater or less than the total a bona fide error and a mistake. The obligation of the amounts already paid by the Tenant to the Landlordpay Rent is an independent covenant, then appropriate adjustments will be made within thirty (30) days following the delivery and no act or circumstance, whether constituting a breach of the above-mentioned statementcovenant by Landlord or not, shall release or modify Tenant's obligation to pay Rent except as otherwise provided in this Lease.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (I2 Technologies Inc)
Payment of Rent. The Annual following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar month, respectively, the Base Rent for 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base 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 on to Landlord which is not paid when due shall bear interest from the Commencement Date date due until the date paid at the annual rate of the Term. The Landlord shall remit to the Tenanteighteen percent (18%) per annum, before each Lease Year, the estimated amount of the Additional Rent (other but in no event higher than the portion thereof which maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to third partiesfive percent (5%) and of such payment; (v) if changes are made to this Lease or the Management Fee for that periodBuilding changing the number of square feet contained in the Premises or in the Building, 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 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 to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery furnishing to Tenant of the abovereport setting forth the actual Expenses for an Operating Year; and, unless Tenant shall take written exception to any item in any such report within such 30-mentioned statementday period, such report 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; and if this Lease ends on a day other than the last day of a Operating 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 numerator of which shall be 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 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 (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 previous Operating Year until Landlord delivers such estimate.
Appears in 1 contract
Samples: Lease (Enterprise Bancorp Inc /Ma/)
Payment of Rent. The Annual Tenant shall pay all Base Rent and Additional Rent (defined below) (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 Section 4.1) (collectively, “Monthly Rent”) shall be paid in equal consecutive monthly instalments in advance on or before the first day of each and every calendar month during the Term. Subject to section 4.3; provided, however, that the installment of Base Rent for the first monthly instalment full calendar month for which Base Rent is payable hereunder and the installment of Direct Expenses for the Annual Base 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 other items of Additional Rent shall be paid by the Tenant within 30 days after Landlord’s request for payment. Rent for any partial calendar month shall be prorated based on the Commencement Date actual number of the Termdays in such month. The Without limiting Landlord’s other rights or remedies, (a) if any installment of Rent is not received by Landlord shall remit to the Tenantor its designee within five (5) business days after its due date, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Landlord a late charge equal to third parties) and 5% of the Management Fee for overdue 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, 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 give Tenant a notice of delinquency with respect to time during a Lease Year re-evaluate its estimate such late payment of such Additional Rent and of the Management FeeRent, and in a five (5) day grace period before imposing such case shall notify the Tenant in writing late charge and/or accruing interest on unpaid Rent. Tenant’s covenant to pay Rent is independent of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (every other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementcovenant herein.
Appears in 1 contract
Samples: Office Lease (Immersion Corp)
Payment of Rent. The Annual Base Landlord, Tenant and Assignee agree that the Sublease creates a sub-landlord, sub-tenant relationship between Tenant and Assignee. Although Assignee’s rights and obligations under the Sublease are subject to Tenant’s rights and obligations under the Lease, Landlord, Tenant and Assignee agree that: (i) Assignee is not a party to the Lease; and (ii) subject to the terms of the Sublease and the obligations agreed to herein,: (A) Assignee has no obligations under the Lease; and (B) Tenant did not assign any obligations under the Lease to Assignee; provided, however, based on Landlord’s rights under the Lease and its election to enforce said rights, Assignee shall make all payments of “Sublessee Rent” (as defined in the Sublease) which are due and payable under the Sublease directly to Landlord, in the manner required by the Sublease. Assignee’s first payment of Sublessee Rent to Landlord shall be paid in equal consecutive monthly instalments in advance due on the first (1st) day of each the calendar month following the date on which Tenant and every month during Assignee receive from Landlord fully executed copies of this Assignment. Notwithstanding the Termforegoing, in the event Assignee fails to make the timely payment of Sublessee Rent under the Sublease, Landlord shall be entitled to look to Tenant to enforce the payment of Sublessee Rent or remedy the default. Subject to section 4.3, The acceptance of Sublessee Rent by Landlord from Sublessee or anyone else liable under the first monthly instalment Sublease shall not be deemed a waiver by Landlord of any provisions of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. 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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementLease.
Appears in 1 contract
Samples: Assignment of Sublease and Consent (Fuse Medical, Inc.)
Payment of Rent. The Annual Base (a) Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar 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 at Landlord's address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only 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 Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term. The Base Rental for the said first full month of the Lease Term for which a payment of rent is due and, if the first full month of the Lease Term falls on a date that is after the end of the Base Year. Should the , 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, 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 Additional Rent and year according to the number of days 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 delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Payment of Rent. The Annual Base All Rent shall be paid in equal consecutive monthly instalments 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 1g hereof or at such other place as Landlord may hereafter designate in writing, on the first day of each and every calendar month during the Term. Subject AH such payments shall be made by good checks payable to section 4.3Landlord 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 first monthly instalment of the Annual 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 the 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 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 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 four percent (4%). In addition, if any amount of Rent required to be paid by Tenant to Landlord under the Tenant on terms of this Lease is not paid within five (5) days after the Commencement Date of date such payment is due, then in addition to paying the Term. 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 then due, Tenant shall pay directly to third partiesLandlord a late charge (the "Late Charge") and equal to five percent (5%) of the Management Fee for that amount of Rent then required to be paid, provided, however on the first occasion of the late payment of Rent in any twelve (12) month period, and no more than once in any twelve (12) month period, Landlord agrees to waive its right to collect such Late Charge on such payment of Rent if such payment is made no later than the monthly payments fifth (5*) day after Landlord delivers to Tenant written notice of Additional such late payment of Rent. 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 Management Fee which are payable 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 Landlord Rent payment and any other charges provided for herein. Any interest, Late Charge and other amounts charged hereunder shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such constitute Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementRent.
Appears in 1 contract
Samples: Work Agreement (Eurotech LTD)
Payment of Rent. The Annual Base Tenant agrees to pay to Landlord, commencing on the Fixed Rent shall be paid in equal consecutive Commencement Date, and continuing and monthly instalments in advance throughout the remainder of the Lease Term, on the first day of each and every calendar month during the Original Term. Subject , a sum equal to section 4.3, the first monthly instalment one-twelfth (1/12th) of the Annual Base Fixed Rent specified in Section 1.2 hereof and on the first 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 determined in Section 3.2 for the applicable Extended Term. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the Fixed Rent Commencement Date shall be other than the first day of a calendar month, the first payment of 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 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 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 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. 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) when due all Annual Fixed Rent and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable all charges for utility services rendered to the Landlord shall then be established Premises and service inspections therefor except as otherwise provided in Article VII and, as further Additional Rent, all charges for said Lease Year based on that estimate. The Landlord may from time additional and special services rendered pursuant to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementArticle VII.
Appears in 1 contract
Samples: Transportation Access Plan Agreement (CarGurus, Inc.)
Payment of Rent. The Annual Base Tenant is required to 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. 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) 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 paid in equal consecutive monthly instalments in advance a default of the Lease. All installments of rent are due on the first day of each month and every month during considered late after the Termfifth (5th) day of that month. Subject to section 4.3, If the first monthly instalment rental payments are not made by the fifth (5th) of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The month, Landlord shall remit to the may charge Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the and Tenant shall pay directly to third partiesas Additional Rent, a ten (10%) and of the Management Fee for that period, and the monthly payments of Additional percent late payment penalty. Any 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts not paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 after the delivery 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 abovehighest 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-mentioned statementfive ($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 provided in this Lease.
Appears in 1 contract
Samples: Office Lease Agreement
Payment of Rent. The Annual Base All Rent shall be paid to Landlord in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment lawful money of the Annual Base 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 (or such other person, firm or corporation as Landlord may hereafter designate in writing). Checks for payment of Rent shall be paid by the Tenant on the Commencement Date sent to Landlord's Address for Payment of the Term. The Landlord shall remit to the TenantRent provided in Section 1 of this Lease, before each Lease Year, the estimated amount of the Additional Rent (or at such 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 that estimate. The 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 during by Landlord. No payment by Tenant or receipt and acceptance by Landlord of a Lease Year re-evaluate its estimate of such lesser amount than the Monthly Base Rent or Additional Rent and shall be deemed to be other than partial payment of the Management Feefull 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 Landlord's right to recover the balance due and payable or to pursue any other remedy provided in this Lease or by law. If Landlord shall at any time or times accept Rent after it becomes due and payable, such case acceptance shall notify the not excuse a subsequent delay or constitute a waiver of Landlord's rights hereunder. Any Rent owed by Tenant in writing of the reto Landlord, including, without limitation, Annual Base Rent, Additional Rent, Tenant's Pass-evaluation Through Costs and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease YearLate Charges (hereinafter defined), so that which is not paid within ten (10) days after the Tenant date such payment is credited with due shall bear interest from the appropriate amounts due date at a rate (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 highest interest rate permitted by law. In addition, if any amount of Rent required to be paid by Tenant to Landlord under the Tenant terms of this Lease is not paid within fifteen (15) days after the date such payment is due, then in accordance with the previous estimate, 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 remit addition to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should paying the amount of such Additional Rent and then due, Tenant shall pay to Landlord a late charge (the "Late Charge") equal to five percent (5%) of the Management Fee amount of Rent then determined 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 be greater or less than the total of the amounts already paid any and all charges assessed by the Tenant bank or payable by Landlord in connection therewith, plus the sum of One Hundred Dollars ($100.00), in addition to the LandlordRent payment and any other charges provided for herein (including the Late Charge and interest at the Default Rate). Any interest, then appropriate adjustments will be made Late Charge and other amounts charged hereunder shall constitute Additional Rent. Notwithstanding the foregoing, Landlord shall waive all the Late Charge and interest for the first late payment in any calendar year provided that Tenant submits to Landlord the late payment within thirty five (305) days following after Landlord’s written notice to Tenant that it has not received the delivery of the above-mentioned statementpayment that is due.
Appears in 1 contract
Samples: Deed of Lease (Vse Corp)
Payment of Rent. The Annual Base All Rent shall be paid in equal consecutive monthly instalments 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 writing, on the first day of each and every calendar month during the Term. Subject All such payments shall be made by good checks (or by electronic transfer) payable to section 4.3Landlord 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 first monthly instalment of the Annual 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 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) business 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 four percent (4%). In addition, if any amount of Rent required to be paid by Tenant to Landlord under the Tenant on terms of this Lease is not paid within five (5) days after the Commencement Date of date such payment is due, then in addition to paying the Term. 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 then due, Tenant shall pay directly to third partiesLandlord a late charge (the "Late Charge") and equal to five percent (5%) 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of Rent then required to be paid; provided, however, that Landlord agrees to waive the first (1st) such Additional Late Charge in any Lease Year during the Term, provided that Tenant pays the Rent then due within five (5) days after Tenant's receipt of written notice from Landlord that such Rent is past-due. 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 of the Management Fee then determined said check is returned by the bank unpaid, Tenant shall pay to Landlord be greater or less than the total sum of One Hundred Dollars ($100.00) to cover the amounts already paid by costs and expenses of processing the Tenant returned check, in addition to the LandlordRent payment and any other charges provided for herein. Any interest, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLate Charge and other amounts charged hereunder shall constitute Additional Rent.
Appears in 1 contract
Payment of Rent. The Annual Base All Rent shall be paid in equal consecutive monthly instalments 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 writing, on the first day of each and every calendar month during the Term. Subject All such payments shall be made by good checks payable to section 4.3Landlord 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 first monthly instalment of the Annual 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 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) business 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%); provided that Landlord shall waive such interest with respect to Tenant’s first failure to timely pay any such Rent in any consecutive period of twelve (12) months if Tenant pays the amount of Rent due within five (5) business days after Landlord sends written notice of such failure to Tenant. In addition, if any amount of Rent required to be *Confidential Treatment Requested paid by Tenant to Landlord under the Tenant on terms of this Lease is not paid within five (5) business days after the Commencement Date of date such payment is due, then in addition to paying the Term. 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 then due, Tenant shall pay directly to third partiesLandlord a late charge (the "Late Charge") and equal to five percent (5%) 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of Rent then required to be paid; provided that Landlord shall waive the first Late Charge in any consecutive period of twelve (12) months if Tenant pays the amount of Rent due within five (5) business days after Landlord sends written notice of such Additional failure to Tenant. 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 of the Management Fee then determined said check is returned by the bank unpaid, Tenant shall pay to Landlord be greater or less than the total sum of One Hundred Dollars ($100.00) to cover the amounts already paid by costs and expenses of processing the Tenant returned check, in addition to the LandlordRent payment and any other charges provided for herein. Any interest, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLate Charge and other amounts charged hereunder shall constitute Additional Rent.
Appears in 1 contract
Samples: Office Lease Agreement (Sucampo Pharmaceuticals, Inc.)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, except as expressly provided herein, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be independent of every other covenant in this Lease; (iii) any sum due from Tenant to Landlord that is not paid by on or before the Tenant on tenth (10th) day of when due shall bear interest from the Commencement Date date due until the date paid at the annual rate of the Term. The Landlord shall remit to the Tenanteighteen percent (18%), before each Lease Year, the estimated amount of the Additional Rent (other but in no event higher than the portion thereof which maximum rate permitted by law (the “Default Rate”) and, in addition, Tenant shall pay directly Landlord a late charge equal to third partiesthree percent (3%) and of such payment; (iv) if changes are made to this Lease or the Building changing the Rentable Square Feet of the Management Fee for that periodPremises or Rentable Square Feet of the Building, 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 make an appropriate adjustment to Tenant’s Proportionate Share; (v) Tenant, or an independent certified accounting firm retained by Tenant on that estimate. The Landlord may from 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 to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent within ninety (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 (3090) days following the delivery furnishing to Tenant of the above-mentioned statementannual 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 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) 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 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 thereafter pay the increased amount, if any, for all remaining months of such calendar year.
Appears in 1 contract
Payment of Rent. The Annual Tenant shall pay, without prior notice or demand, in accordance with Section 4.1 of the Summary or at such place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, 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 shall be paid Rent”) as set forth in Section 4 of the Summary, payable in equal consecutive monthly instalments installments as set forth in advance Section 4 of the Summary, in advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Subject to section 4.3Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease 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 period which is shorter than one month, the first monthly instalment Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Annual 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 paid 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 on assumes the Commencement Date risk of the Termforegoing 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 the nature of constructive eviction to any action seeking to recover rent (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). The Landlord shall remit 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. Nothing contained in this Section 3.1 is intended to frustrate or to impede Tenant, before each Lease Year, the estimated amount ’s right to assert a claim against Landlord for any breach 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 periodthis 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 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 court permitting Tenant to the offset against rent otherwise owed to Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.
Appears in 1 contract
Samples: Organovo Holdings, Inc.
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be independent of every other covenant in this Lease; (iii) INTENTIONALLY OMITTED; (iv) any sum due from Tenant to Landlord which is not paid by when due shall bear interest from the Tenant on date due until the Commencement Date date paid at the annual rate of five percentage (5%) points above the Term. The Landlord shall remit to the TenantPrime Rate then in effect, before each Lease Year, the estimated amount of the Additional Rent (other but in no event higher than the portion thereof which maximum rate permitted by law (the "Default Rate"); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to third partiesfive percent (5%) and of such payment; (v) if changes are made to this Lease or the Management Fee for that periodBuilding changing the number of square feet contained in the Premises or in the Building, 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 make an appropriate adjustment to Tenant's Proportionate Share; (vi) Tenant, or an independent certified accounting firm retained by Tenant on that estimate. The Landlord may from 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 to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery furnishing to Tenant of the above-mentioned statementannual 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 or expiration 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, as the case may be, 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 such calendar year.
Appears in 1 contract
Samples: Micropoint Inc
Payment of Rent. The Annual 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 sent by wire transfer pursuant to the instructions set forth in Section 1.01(o) 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. Rent other than Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each a manner mutually agreeable to Landlord and every month during the TermTenant. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Landlord and Tenant on the Commencement Date of the Term. 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 that estimate. The Landlord may from time to time during mutually agree to an alternative manner of payment of any portion of Rent. The Rent shall be paid without notice, demand, abatement, deduction, or offset except as may be expressly set forth in this Lease. Upon execution of this Lease, Tenant shall pay to Landlord an amount equal to $172,500, which shall be applied to the first month’s Base Rent due hereunder on the first Rental Commencement Date. Tenant shall pay to Landlord a Lease Year re-evaluate its estimate late charge equal to five percent (5%) of 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 Additional Rent late charge by Landlord shall be in addition to and cumulative of any and all other remedies available to such party. It is the Management Feeintention of Landlord and Tenant to conform to all applicable laws concerning the contracting for, charging and in 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 case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts excess paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such other party against any amount owing under this Lease Year or during a part only of such if all amounts owning under this Lease Year. After each Lease Yearhave been paid, the Landlord charging party shall remit refund to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should party the amount of such Additional Rent 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 the Management Fee then determined by the Landlord be greater or less than the total a bona fide error and a mistake. The obligation of the amounts already paid by the Tenant to the Landlordpay Rent is an independent covenant, then appropriate adjustments will be made within thirty (30) days following the delivery and no act or circumstance, whether constituting a breach of the above-mentioned statementcovenant by Landlord or not, shall release or modify Tenant’s obligation to pay Rent except as otherwise provided in this Lease.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (I2 Technologies Inc)
Payment of Rent. The Annual term “Additional Rent” shall mean all amounts due under Section 2.02 for Operating Expenses and Taxes, and all other amounts (except Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject Rent) 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. The to 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 that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimateterms of this Lease, such Additional including without limitation payments to Landlord for reimbursement of any costs expended upon an Event of Default by Tenant. The term “Rent” shall mean Base Rent and the Management Fee is paid Additional Rent. All payments of Rent shall be made without set-off, deduction or offset except as expressly provided in full during such Lease Year or during a part only this Lease. All payments of such Lease Year. After each Lease Year, Rent shall be made to the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined at c/o Xxxxx Xxxxxx Management, Xxx Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000, Attn: Xxxxx Xxxxxx, or as may be otherwise directed by the Landlord in writing, which may include a direction to pay by wire transfer to an account specified by Landlord. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be greater absolute, unconditional, and independent and shall not be discharged or less than otherwise affected by any law or regulation now or hereafter applicable to the total Premises, or any other restriction on Tenant’s use, or, except as provided in Article 11, any casualty or taking, or any failure by Landlord to perform or other occurrence; and, except as expressly provided in this Lease, Tenant assumes the risk of the amounts already paid by foregoing and waives all rights now or hereafter existing to quit or surrender the Tenant Premises or any part thereof, to terminate or cancel this Lease, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Subject to the Landlordprovisions of this Lease, then appropriate adjustments will be made within thirty (30) days following however, Tenant shall have the delivery right to injunctive relief or to seek judgments for direct money damages occasioned by Xxxxxxxx’s breach of the above-mentioned statementits Lease covenants.
Appears in 1 contract
Samples: Lease (Mural Oncology PLC)
Payment of Rent. The Annual As used in this Lease, "Rent" shall mean the Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3Rent, the first monthly instalment of Operating Expense reimbursements pursuant to Section 5.01, Tenant's Electricity Charge pursuant to Section 5.02B, the Annual Base Parking Rent shall 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 constitute rental in consideration for this Lease and the Tenant on the Commencement Date leasing of the TermPremises. The Landlord Without invoice or other notice from Landlord, Tenant shall remit to the Tenant, before each Lease Year, the estimated amount send Base Rent and other sums due hereunder in legal tender of the Additional Rent (United States of America to Landlord at the address set forth in Section 1.01(o) or to such 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 that estimate. The person or at such other address as Landlord may from time to time during designate in writing. The Rent shall be paid without notice, demand, abatement, deduction, or offset except as may be expressly set forth in this Lease. Upon execution of this Lease, Tenant shall pay to Landlord an amount equal to one months rent as described in Section1.01(l) and any such amount shall be 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 Tenant agrees to pay such amount immediately on demand as liquidated damages to cover the additional costs of collecting and processing such late payments. Tenant acknowledges that the late payment by Tenant to Landlord of Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and such late charges represent a Lease Year re-evaluate its fair and reasonable estimate of such Additional Rent and the cost that Landlord will incur by reason of the Management Feelate payment by Tenant. If such failure to pay Rent continues beyond a five (5) day period, any and in all due and unpaid Rent shall bear interest at the lesser of (i) eighteen percent (18%) per annum, or (ii) the maximum non-usurious rate allowed by applicable law (the "Default Interest Rate"), from the date such case Rent became due until the date such Rent is received by Landlord. Such interest shall notify the Tenant in writing of the re-evaluation be immediately due and establish monthly payments for the unexpired period payable as additional Rent hereunder. The collection of such Lease Year or of late charge and/or such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid interest by the Tenant in accordance with the previous estimate, 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 remit be in addition to the Tenant a statement indicating the actual amount and cumulative of the Additional Rent (any and all other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement.remedies available to
Appears in 1 contract
Samples: Lease (Carreker Antinori Inc)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar month, the Rent for 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base 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 annual rate 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 on the Commencement Date of the Term. The such failure (provided that Landlord shall remit not be required to the Tenantdeliver such notice more than two (2) times in any calendar year), before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five days after its due date equal to third partiesfive 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 furnishing to Tenant of the Management Fee for that annual statement of 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 monthly payments event of Additional Rent and Management Fee which are payable the termination of this Lease prior to the Landlord 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 then be established for said Lease Year based on that estimate. The Landlord may from time survive the termination of this Lease; (viii) no adjustment to time during a Lease Year re-evaluate its estimate of such Additional the Rent and by virtue of the Management Fee, and operation of the rent adjustment provisions in such case Section 2(B)(ii) of this Lease shall notify result in the payment by Tenant in writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 Base Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the amounts already paid by 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 Landlordbeginning of any calendar year, then appropriate adjustments will be made within thirty (30) days following Tenant shall continue to pay Adjustment Rent, as the delivery of case may be, at the above-mentioned statementrate for the previous calendar year until Landlord delivers such estimate.
Appears in 1 contract
Samples: Office Lease (Telvent Git S A)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be paid by independent of every other covenant in this Lease; (iii) if during all or any portion of any year the Tenant on the Commencement Date Building is not fully rented and occupied (fully rented and occupied shall mean that ninety-five percent (95%) of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount Rentable Square Feet of the Additional Rent Building is occupied by tenants under lease), Landlord may elect to make an appropriate adjustment of variable Expenses 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 for such year; (other 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 annual rate of five percentage (5%) points above the Prime Rate then in effect, but in no event higher than the portion thereof which maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to third partiesfive percent (5%) and of such payment; (v) if changes are made to this Lease or the Management Fee for that periodBuilding changing the number of square feet contained in the Premises or in the Building, 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 make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant, or an independent certified accounting firm retained by Tenant on that estimate. The Landlord may from 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 to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery furnishing to Tenant of the above-mentioned statementannual 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 such calendar year.
Appears in 1 contract
Samples: Lease (Alliance Data Systems Corp)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar month, respectively, the Rent for the 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be independent of every other covenant in this Lease; (iii) if during all or any portion of any year (including the Base 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 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 for such year, and if at any time during any calendar year, any part of the Building is leased to a tenant (hereinafter referred to as a "Special Tenant") who, in accordance with the terms of its lease, provides its own cleaning and janitorial services or electricity or other services that Tenant does not provide for itself, then Expenses for such calendar year shall be increased by the additional costs for cleaning and janitorial services, electricity services and/or for such other services not provided by Tenant on for itself as reasonably estimated by Landlord that would have been incurred by Landlord if Landlord had furnished and paid for cleaning and janitorial services, electricity and/or such other services for the Commencement Date space occupied by the Special Tenant; (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 annual rate of two percentage (2%) points above the Term. The Landlord shall remit to the TenantPrime Rate, 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 that estimate. The Landlord may from time to time during in effect, 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 five percent (5%) of any Rent payment which is paid more than five (5) days after its due date; (v) if changes are made to this Lease Year re-evaluate its estimate or the Building, changing the number of such Additional Rent and square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant's Proportionate Share; (vi) in the event of the Management Feeexpiration or 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 shall survive the expiration or termination of this Lease, provided, however, that Landlord may deduct from such refund any amounts then owing from Tenant to Landlord hereunder or any amounts arising out of a Default (hereinafter defined) by Tenant under this Lease; (vii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in such case this Lease shall notify result in the payment by Tenant in writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 Base Rent shown on the Schedule or provided in Section 2.B; (viii) Landlord may at any time change the fiscal year of the amounts already paid Building; (ix) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the date listed on the statement showing such amount is due, but in no event earlier than five (5) days after Tenant's receipt of the statement; (x) 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 or notice, at which time Tenant shall pay retroactively the increased amount, if any, for all previous months of such calendar year; and (xi) if Landlord permits Tenant to take possession of the Premises prior to the Commencement Date, such tenancy shall be by the day and Tenant shall be responsible for payment of Rent, in advance, at the rate of one-thirtieth (1/30th) of the monthly Rent as set forth above for each day of such occupancy prior to the LandlordCommencement Date, then appropriate adjustments will be made within thirty (30) days following the delivery and Tenant shall comply fully with all other terms and provisions of this Lease upon Tenant's possession of the above-mentioned statementPremises.
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Payment of Rent. The Annual Except as otherwise expressly provided in this Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by to Landlord at its address recited in Section 27.7, or to such other person or at such other address in the Tenant on the Commencement Date of the Term. 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 that estimate. The United States as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and shall be paid without notice, demand, abatement, deduction or offset in legal tender of the Management FeeUnited States of America. 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 in such case the remaining balance of Twenty Thousand Nine Hundred Eighty-Seven and 52/100 ($20,987.52) shall notify be paid on or before April 15, 2000. In addition, if the Tenant in writing Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the partial month shall be prorated on the basis of the re-evaluation number of days during the applicable month and establish monthly payments for paid on or before the unexpired period of such Lease Year Commencement Date. If the Lease Term commences or of such part only ends on other than the first or the last day of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 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 applicable Fiscal Year. All payments received by Landlord from Tenant shall remit be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a statement indicating 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 actual amount income or profits derived from the lease, use or occupancy of the Additional Rent (other than Premises. In the portion thereof which the Tenant has paid directly to third parties) and of the 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 event Landlord's Mortgagee succeeds to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery 's interests under this Lease and determines that all or any portion of the above-mentioned statementRent 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 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. The Annual Tenant shall pay, without prior notice or demand, at such place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, 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 shall be paid Rent”) as set forth in Section 4 of the Summary, payable in equal consecutive monthly instalments installments as set forth in advance Section 4 of the Summary, in advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Subject to section 4.3Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the 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 period which is shorter than one month, the first monthly instalment Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Annual 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 paid absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by the Tenant on the Commencement Date of the Term. The Landlord shall remit any law or regulation ow or hereafter applicable to the Premises, or any other restriction on Tenant’s use, before each Lease Yearor (except as expressly provided herein), the estimated amount of the Additional Rent (any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other than the portion thereof which the occurrence; provided, however, Tenant shall pay directly have the right to third parties) 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 of the Management Fee for that periodnot dependent, and Tenant hereby waives the monthly payments benefit of Additional Rent and Management Fee which are payable any statute or judicial law to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementcontrary.
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Samples: Sova Science District (Conatus Pharmaceuticals Inc.)
Payment of Rent. The Annual Base Monthly Rent and Adjustments shall be paid due and payable, in equal consecutive monthly instalments advance, beginning on that date which is ninety (90) 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 advance that month. If the Rent Commencement Date occurs on the first day of each and every a calendar month, then the month during in which the Term. Subject to section 4.3, Rent Commencement Date occurs shall be the first monthly instalment complete calendar month after the occurrence of the Annual 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 paid by at the Tenant on times and in the Commencement Date amounts provided for herein in legal tender of the Term. The United States of America to Landlord shall remit at the address specified in Paragraph 32 hereof or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and of the Management Feeshall be paid without notice, and demand, abatement, deduction or offset (unless expressly provided for elsewhere in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third partiesthis Lease) and shall be a covenant of the Management Fee for the said Lease YearTenant independent of any obligation of Landlord under this Lease. Should the amount Tenant's obligation to pay any installment of Rent shall not be deemed satisfied until such Additional installment of Rent and of the Management Fee then determined has actually been received 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 delivery of the above-mentioned statement.
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Payment of Rent. The Annual Base following provisions shall govern the payment of --------------- Rent: (i) 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 in equal consecutive monthly instalments in advance on to Landlord without offset or deduction (unless otherwise expressly permitted under this Lease), and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be paid by the Tenant on the Commencement Date independent of every other covenant in this Lease; (iii) if during all or any portion of any year at least 95% of the Term. The rentable area of the Building is not rented and occupied, Landlord shall remit make an appropriate adjustment of Expenses and/or Taxes for such year 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 Tenant"Prime" or "Base" rate then most recently announced by Bank One (Chicago) plus 4% (subject to change as such rate changes), before each Lease Year, the estimated amount of the Additional Rent (other but in no event higher than the portion thereof which 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 directly Landlord a late charge for any Rent payment which is paid more than five business days after its due date equal to third parties3% of such payment; (v) and if changes are made to this Lease or the Building changing the number of square feet contained in the Management Fee for that periodPremises or in the Building, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then make an appropriate adjustment to Tenant's Proportionate Share (provided all rentable areas shall be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant determined in accordance with the previous estimatemeasurement 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 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 Additional 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 Management Fee is paid 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 full during such Lease Year or during a part only determination). Thereafter the auditor shall notify the parties of its final determination, which determination shall be final and conclusive. If the results of such Lease Year. After each Lease Yearaudit reveal that Tenant has overpaid or underpaid Adjustment Rent for the applicable year, the Landlord shall remit 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 parties. 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 statement indicating prior year), then the actual amount 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 Additional 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; (other than vii) in the portion thereof which the Tenant has paid directly to third parties) and event of the Management Fee for termination of this Lease prior to the said Lease Year. Should 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 amount termination of such Additional this Lease; (viii) no adjustment to the Rent and by virtue of the Management Fee then determined operation of the rent adjustment provisions in this Lease shall result in the payment by the Landlord be greater or Tenant in any year of less than the total Base 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 with the intention of increasing amounts already paid 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 Landlordbeginning of any calendar year, then appropriate adjustments will be made within thirty (30) days following Tenant shall continue to pay Adjustment Rent at the delivery 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 above-mentioned statementsuch calendar year.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Payment of Rent. The Annual Concurrently with Xxxxxx’s execution of this Lease, Tenant shall pay to Landlord the amount set forth in Section L of the Summary as prepayment of rent for credit against the first installment(s) of Base Rent Monthly Rent. All rent required to be paid in monthly installments shall be paid in equal consecutive monthly instalments in advance on the first day of each and every calendar month during the Lease Term. Subject to section 4.3, If the date of an increase in Base Monthly Rent does not fall on the first monthly instalment day of a calendar month, such increase shall become effective on the first day of the Annual Base 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 by to Landlord at its address set forth in Section R of the Tenant Summary, or at such other place as Landlord may designate from time to time. Tenant’s obligation to pay Base Monthly Rent and Xxxxxx’s Share of Common Operating Expenses shall be prorated at the commencement and expiration of the Lease Term. In the event that the Lease Term commences on a date other than the first day of a calendar month, on the Commencement Date Tenant shall pay to Landlord as Base Monthly Rent for the period from such Commencement Date to the first day of 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. The Landlord shall remit to In the Tenant, before each event that the Lease Year, the estimated amount of the Additional Rent (Term is terminated for any reason on a date other than the portion thereof which last day of a calendar month, on the first day of the last calendar month of the Lease Term Tenant shall pay directly to third parties) Landlord as Base Monthly Rent for the period from said first day of said last calendar month to and including the last day of the Management Fee for Lease Term that period, proportion of the monthly Base Monthly Rent hereunder which the number of days between said first day of said last calendar month 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 during a Lease Year re-evaluate its estimate of such Additional Rent and last day of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit term hereof bears to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement).
Appears in 1 contract
Payment of Rent. The Annual Base Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar 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 at Landlord's address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only 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 Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term. The Base Rental for the said Lease Year. Should the amount of such Additional Rent and first full month of the Management Fee then determined Lease Term for which a payment of rent is due being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be greater or less applied to the payment of Base Rental by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term ends at any time other than the total 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 amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Payment of Rent. The Annual Tenant shall pay, without prior notice or demand, in accordance with Section 4.1 of the Summary or at such place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, 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 shall be paid Rent”) as set forth in Section 4 of the Summary, payable in equal consecutive monthly instalments installments as set forth in advance Section 4 of the Summary, in advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Subject to section 4.3Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease 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 period which is shorter than one month, the first monthly instalment Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Annual 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 paid 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 on assumes the Commencement Date risk of the Termforegoing 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 the nature of constructive eviction to any action seeking to recover rent (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). The Landlord shall remit 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. Nothing contained in this Section 3.1 is intended to frustrate or to impede Tenant, before each Lease Year, the estimated amount ’s right to assert a claim against Landlord for any breach 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 periodthis 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 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 court permitting Tenant to the offset against rent otherwise owed to Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.
Appears in 1 contract
Samples: Lease (Organovo Holdings, Inc.)
Payment of Rent. The Annual Base Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar 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 at Landlord’s address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, bxxx Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate bxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only 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 Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term. Any such prorated Base Rental, plus the Base Rental for the said Lease Year. Should the amount of such Additional Rent and first full month of the Management Fee then determined 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 greater applied to the payment of Base Rental by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or less ends at any time other than the total 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 amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Samples: Office Lease Agreement (Masergy Communications Inc)
Payment of Rent. The Annual Concurrently with the execution of this Lease by both parties, Tenant shall pay to Landlord the amount set forth in Section L of the Summary as prepayment of rent for credit against the first installment(s) of Base Rent Monthly Rent. All rent required to be paid in monthly installments shall be paid in equal consecutive monthly instalments in advance on the first day of each and every calendar month during the Lease Term. Subject If Section K of the Summary provides that the Base Monthly Rent is to section 4.3, be increased during the Lease Term and if the date of such increase does not fall on the first monthly instalment day of a calendar month, such increase shall become effective on the first day of the Annual Base 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 §11.4, §12.3 and elsewhere in the Lease), and without any prior demand therefor. Rent shall be paid by the Tenant on the Commencement Date to Landlord at its address set forth in Section Q of the Term. The Landlord shall remit to the TenantSummary, before each Lease Year, the estimated amount of the Additional Rent (or at such 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 that estimate. The place as Landlord may designate from time to time during time. Tenant’s obligation to pay Base Monthly Rent and Tenant’s Share of Common Operating Expenses shall be prorated at the 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 Year re-evaluate its estimate 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 Additional Rent 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 Management FeePremises; or (iv) the exercise of any other remedy by Landlord, and in such case shall notify 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 in writing of under the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementcure any default.
Appears in 1 contract
Samples: Genesis Microchip Inc /De
Payment of Rent. The Annual Base All Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment lawful money of the United States of America without deduction, diminution, set-off, counterclaim or prior notice or demand, at Landlord’s Address for Payment of Rent provided in Section 1 of this Lease or at such other place as Landlord may hereafter designate in writing. All such payments shall be made by good checks or wire transfer 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 Landlord’s right to recover the balance due and payable or to pursue any other remedy provided in this Lease 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 and Additional Rent, which is not paid within five (5) days after the date such payment is due shall be paid bear interest from the due date at a rate (the “Default Rate”) equal to the lesser of (i) the prime rate on corporate loans quoted in the Wall Street Journal (the “Prime Rate”) plus four percent (4%), or (ii) the highest interest rate permitted by law. In the event Tenant makes any payment of Rent by check and said check is returned by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenantbank unpaid, 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) Landlord any and all charges assessed by the bank or payable by Landlord in connection therewith, plus the sum of the Management Fee for that periodOne Hundred Dollars ($100.00), and the monthly payments of Additional Rent and Management Fee which are payable in addition to the Landlord Rent payment and any other charges provided for herein (including interest at the Default Rate). Any interest or other amount charged hereunder shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such constitute Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementRent.
Appears in 1 contract
Samples: Office Lease (Costar Group Inc)
Payment of Rent. The Annual As used in this Lease, "Rent" shall mean the Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3Rent, the first monthly instalment of Operating Expense reimbursements pursuant to Section 5.01, the Annual Base Parking Rent shall 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 constitute rental in consideration for this Lease and the Tenant on the Commencement Date leasing of the TermPremises. The Landlord Without invoice or other notice from Landlord, Tenant shall remit to the Tenant, before each Lease Year, the estimated amount send Base Rent and other sums due hereunder in legal tender of the Additional Rent (United States of America to Landlord at the address set forth in Section 1.01(o) or to such 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 that estimate. The person or at such other address as Landlord may from time to time during designate in writing. The Rent shall be paid without notice, demand, abatement, deduction, or offset except as may be expressly set forth in this Lease. Upon execution of this Lease, Tenant shall pay to Landlord an amount equal to one months rent as described in Section 1.01(l) and any such amount shall be applied to this first month's rent due hereunder. Landlord shall, at its option, have the 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 of its due date for any reason whatsoever and Tenant agrees to pay such amount immediately on demand as liquidated damages to cover the additional costs of collecting and processing such late payments. Tenant acknowledges that the late payment by Tenant to Landlord of Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and such late charges represent a Lease Year re-evaluate its fair and reasonable estimate of such Additional Rent and the cost that Landlord will incur by reason of the Management Feelate payment by Tenant. If such failure to pay Rent continues beyond a five (5) day period, any and in all due and unpaid Rent shall bear interest at the lesser of (i) eighteen percent (18%) per annum, or (ii) the maximum non-usurious rate allowed by applicable law (the "Default Interest Rate"), from the date such case Rent became due until the date such Rent is received by Landlord. Such interest shall notify the Tenant in writing of the re-evaluation be immediately due and establish monthly payments for the unexpired period 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 Landlord. 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 Year or are ever found to exceed any applicable limits, Landlord shall credit the amount of any such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts excess paid by the Tenant in accordance with the previous estimateagainst any amount owing under this Lease or if all amounts owning under this Lease have been paid, 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 remit refund to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 excess paid by the Tenant. 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 the Landlordpay Rent is an independent covenant, then appropriate adjustments will be made within thirty (30) days following the delivery and no act or circumstance, whether constituting a breach of the above-mentioned statementcovenant by Landlord or not, shall release or modify Tenant's obligation to pay Rent.
Appears in 1 contract
Samples: Ivg Corp
Payment of Rent. The Annual Base Sublease Rent shall be paid and Additional Sublease Rent (collectively the “Rent”) is payable in advance in equal consecutive monthly instalments 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 calendar day of each and every month during the Sublease Term. Subject to section 4.3, except that the first monthly instalment installment of the Annual Base Rent shall will be paid by Subtenant to Sublandlord upon execution of this Agreement on behalf of Subtenant. To the Tenant on extent that the Commencement Date Sublandlord’s share of the costs for Operating Expenses is modified during any year of the Sublease Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional monthly Rent (other than the portion thereof which the Tenant payable by Subtenant shall pay directly be adjusted to third parties) and take such modification into account. All Rent will be paid without notice, demand, set-off or deduction, in lawful money of the Management Fee United States of America, at the address of Sublandlord 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 notices set forth below or at such other place as Sublandlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of designate in writing. If the Management Fee, and in such case shall notify Sublease Term begins on other than the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only first calendar day of a Lease Yearmonth (i.e.the Effective Date), so that after Rent will be prorated on a per diem basis. If during the Tenant is credited with Sublease Term, Subtenant shall fail to pay Rent within seven (7) business days of when the appropriate amounts paid Rent shall be due and payable, Subtenant shall pay to Sublandlord as liquidated damages for such late payment, without notice or demand by Sublandlord, a sum equal to ten percent (10%) per annum on the Tenant in accordance with amount of Rent then due compounding monthly from the previous estimate, such Additional Rent and the Management Fee is due date until paid in full during and a $100.00 USD administrative charge. Subtenant and Sublandlord agree that such Lease Year or during a part only sums of such Lease Year. After each Lease Year, the Landlord shall remit liquidated damages are fair and reasonable due to the Tenant uncertainty of calculating actual damages. Provided further, however, that nothing contained in this Section 5 (c) shall be deemed or construed to be a statement indicating limitation of or in substitution of Sublandlord’s other rights and remedies as provided under this Agreement, and Sublandlord shall have the actual amount right to apply any monies received from Subtenant first to any deficiency in the payment of the Additional Rent (liquidated damages and any excess thereof to any item of Rent, or any other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Yearcharge, as Sublandlord may determine. 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 Notwithstanding any other provision hereof to the Landlordcontrary, then appropriate adjustments will be made within thirty (30) days following Subtenant’s liability for Rents accruing during the delivery Sublease Term and Sublandlord’s obligation to refund overpayment of Rents paid to it by Subtenant shall survive the above-mentioned statementexpiration or sooner termination of this Agreement.
Appears in 1 contract
Samples: Sublease Agreement (AntriaBio, Inc.)
Payment of Rent. The Annual Base All Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment lawful money of the Annual United States of America without deduction, diminution, set-off, counterclaim or prior notice or demand, at Landlord's Address for Payment of Rent provided in Section 1 of this Lease or at such other place as Landlord may hereafter designate in writing. 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 Landlord's right to recover the balance due and payable or to pursue any other remedy provided in this Lease 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 date such payment is due shall bear interest from the due date at a rate (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 highest interest rate permitted by law. In addition, if any amount of Rent required to be paid by Tenant to Landlord under the Tenant on terms of this Lease is not paid within five (5) days after the Commencement Date of date such payment is due, then in addition to paying the Term. 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 then due, Tenant shall pay directly to third partiesLandlord a late charge (the "Late Charge") and equal to five percent (5%) 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of Rent then required to be paid. Payment of such Additional Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and of the Management Fee then determined said check is returned by the bank unpaid, Tenant shall pay to Landlord be greater or less than the total of the amounts already paid any and all charges assessed by the Tenant bank or payable by Landlord in connection therewith, plus the sum of One Hundred Dollars ($100.00), in addition to the LandlordRent payment and any other charges provided for herein (including the Late Charge and interest at the Default Rate). Any interest, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLate 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. The Annual Base 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 (5) 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 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 consecutive monthly instalments 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 advance any twelve (12) month period, Landlord may require all future rent by cashier’s or certified check. Despite the foregoing, Landlord shall waive such interest and late charge on the first day (1st) two (2) occasions during any twelve (12) month period in which Tenant does not timely pay Base Annual Rent or Additional Rent, provided that Tenant pays such installment of each and every month during the Term. Subject to section 4.3, the first monthly instalment of the Base Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the or Additional Rent to Landlord within five (other than the portion thereof which the Tenant shall pay directly to third parties5) 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that days after the date Tenant receives notice that such amount is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementpast due.
Appears in 1 contract
Samples: Deed of Lease (Cvent Inc)
Payment of Rent. The Annual Concurrently with the execution of this Lease by both parties, Tenant shall pay to Landlord the amount set forth in 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 equal consecutive monthly instalments in advance on the first day of each and every calendar month during the Lease Term. Subject ; provided, however, that other than the monthly installments of estimated payments of Tenant’s Share of Common Operating Expenses, no installment of Additional Rent which is not to section 4.3, be paid on a monthly estimate basis shall be due prior to the later of (i) the first monthly instalment day of the Annual month after the written xxxx for the installment of Additional Rent is received by Tenant, or (ii) ten (10) Business Days after Tenant’s receipt of the written xxxx for the installment of Additional Rent. If Section K of the Summary provides that the Base Monthly Rent is to be increased during the Lease Term and if the date of such increase does not fall on the first day of a calendar month, 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 this Lease), and without any prior demand therefor. Rent shall be paid by the Tenant on the Commencement Date to Landlord at its address set forth in Section Q of the Term. The Landlord shall remit to Summary, or at such other place within 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 that estimate. The continental United States as Landlord may designate from time to time during a Lease Year re-evaluate its estimate of such Additional time. Tenant’s obligation to pay Base Monthly Rent and Tenant’s Share of Common Operating Expenses shall be prorated at the commencement and expiration of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementTerm.
Appears in 1 contract
Samples: Tenant Improvement Agreement (ALPHA & OMEGA SEMICONDUCTOR LTD)
Payment of Rent. The Annual Base (a) Tenant shall pay to Landlord, without notice or demand, and without any set-off, counterclaim, abatement or deduction whatsoever, except as otherwise expressly 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 paid in equal consecutive monthly instalments installments, in advance advance, on the first (1/st/) day of each and every calendar month during the Term, commencing on the initial Rent Commencement Date, and (ii) Additional Rent, at the times and in the manner set forth in this Lease. Subject (b) Provided no uncured Material Default shall then exist under this Lease, Tenant shall have the right to section 4.3require 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"). Such sum shall be elected and used by Tenant in its sole discretion in accordance with Paragraph C.2 of the 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 monthly instalment full month of the Annual Base Rent shall first Lease Year (if such amount can be paid calculated by such date) the Tenant monthly amortized amount of the Supplemental Allowance together with interest on the Commencement Date outstanding balance of the Supplemental Allowance at a fixed annual rate equal to twelve percent (12%) per annum. If the first full calendar month of the first Lease 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 any reason prior to the natural expiration of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated entire then unamortized portion of the Supplemental Allowance shall be due 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 maximum aggregate amount of the Additional Rent (other than Supplemental Allowance in one lump sum on the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for date specified in Exhibit U. The --------- parties agree that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said this Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 amended within thirty (30) days following after the delivery 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 above-mentioned statementexisting 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: Lease (Verisign Inc/Ca)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) 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) except as otherwise expressly provided in this Lease, all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base 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 the Building is not at least ninety-five percent (95%) occupied by tenants, Landlord shall make an appropriate adjustment of Expenses for such 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 deemed to have been the Expenses for such calendar year; (iv) any sum due from Tenant on the Commencement Date to Landlord which is not paid within ten (10) days of the Term. The Landlord date when due shall remit to bear interest from the Tenant, before each Lease Year, date due until the estimated amount date paid at the annual rate of the Additional Rent prime rate then in effect for the First National Bank of Boston, plus four and one-half percent (other 4 1/2%), but in no event higher than the portion thereof which maximum rate permitted by law (the "Default Rate"); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than ten (10) days after its due date equal to third partiesfive percent (5%) and 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) in the event of the Management Fee for that period, and the monthly payments termination of Additional Rent and Management Fee which are payable 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) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall then be established for said Lease Year based due on that estimate. The the same date as the Rent listed on the statement showing such amount is due; and (ix) if Landlord may from time fails to time during a Lease Year re-evaluate its give Tenant an estimate of such Additional Adjustment Rent and prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent at the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments rate for the unexpired period of previous calendar year until Landlord delivers such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statement.
Appears in 1 contract
Samples: Lease (Ziplink Inc)
Payment of Rent. The Annual Except as otherwise expressly provided in this --------------- Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by to Landlord at its address recited in Section 27.7, or to such other person or at such other address in the Tenant United States as Landlord may from time to time designate in writing. Rent shall be paid without notice, demand, abatement, deduction or 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 on the Commencement Date of the TermLease. The Landlord In addition, if the Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the partial month shall remit to be prorated on the Tenant, before each basis of the number of days during the applicable month. If the Lease Term commences or ends on other than the first or the last day of a Fiscal Year, the estimated amount Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated on the basis of the Additional Rent (other than number of days during the portion thereof which the applicable Fiscal Year. All payments received by Landlord from Tenant shall pay directly be applied to third parties) and 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 Management Fee for that period, and Premises. In 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 event Landlord's Mortgagee succeeds to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery 's interests under this Lease and determines that all or any portion of the above-mentioned statementRent 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 payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Payment of Rent. The Annual term "Rent" as 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 Lease 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 paid in equal consecutive monthly instalments due and payable in advance in monthly installments on the first (1st) day of each and every calendar month after the Rent Commencement Date (defined in the Addendum) during the Term. Subject to section 4.3Term hereof, the first monthly instalment in legal tender of the Annual Base Rent shall be paid by United States of America to Landlord at the Tenant on the Commencement Date of the Term. The Landlord shall remit address shown in Section 5.16 or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. The Rent and of shall be paid without notice, demand, abatement, deduction or offset except as otherwise expressly provided for in the Management Fee, and in such case Lease. In no event shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount accept or be bound by any payment of the Additional Rent (other more than the portion thereof which the Tenant has paid directly to third parties) and of the 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 in advance, unless otherwise agreed to in writing between Landlord and Tenant. If the delivery Term commences or ends on other than the first or last day of a calendar month, then the installment of Base Rental and the Parking Rentals for such partial month shall be appropriately prorated. If the Term commences or ends at any time other than the first day of a calendar year, the Tenant's Proportional Share of Actual Operating Expenses in excess of the above-mentioned statementBase Operating Expenses Rate shall be prorated for such year according to the number of days of the Term during such year. In no event shall Base Rental or monthly installments thereof be less than the amounts specified in Section 2.01 (subject to Tenant's abatement rights as set forth in Section 3.01(c) and Section 5.02 of this Lease Agreement).
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) 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 (except as otherwise expressly provided in equal consecutive monthly instalments in advance on this Lease), and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base 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 the Building is not at least ninety-five percent (95%) occupied by tenants, Landlord may elect to make an appropriate adjustment of Expenses for such 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 deemed to have been the Expenses for such calendar year; (iv) any sum due from Tenant on to Landlord which is not paid when due shall bear interest from the Commencement Date date due until the date paid at the annual rate of the Term. The Landlord shall remit to prime rate then in effect for the TenantFirst National Bank of Boston plus four percent (4%), before each Lease Year, the estimated amount of the Additional Rent (other but in no event higher than the portion thereof which maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to third partiesfive 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 one hundred twenty (120) days following the furnishing to Tenant of the Management Fee for that 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 monthly payments most current invoice for Taxes that has been received by Landlord from the taxing authority; (viii) in the event of Additional Rent and Management Fee which are payable the termination of this Lease prior to the Landlord 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 then be established for said Lease Year based on that estimate. The Landlord may from time survive the termination of this Lease; (ix) no adjustment to time during a Lease Year re-evaluate its estimate of such Additional the Rent and by virtue of the Management Fee, and operation of the rent adjustment provisions in such case this Lease shall notify result in the payment by Tenant in writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 Base Rent shown on the Schedule; (x) each amount owed to Landlord under this Lease for which the date of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will payment is not expressly fixed shall be made due within thirty (30) days following the delivery of Tenant’s receipt of the above-mentioned statementstatement 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 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. Landlord represents to Tenant that Landlord has not filed for an abatement of Taxes for fiscal year 1995.
Appears in 1 contract
Samples: Lease (First Essex Bancorp Inc)
Payment of Rent. The Annual Base 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 Sublease. Rent herein reserved or payable shall be paid at Sublandlord’s election, (i) to Sublandlord’s address for payment of Rent set forth in equal consecutive monthly instalments the Defined Terms, or (ii) to such other payee and/or at such other place as Sublandlord may designate from time to time in advance on 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. Subtenant shall be required to pay Subtenant’s Share of Additional Rent, 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 Master Lease). In the event the first day of each and every month during the Term. Subject to section 4.3, Sublease Term shall not be the first monthly instalment day of a calendar month or the last day of the Annual Base Rent shall be paid by Sublease Term is not the Tenant on the Commencement Date last day of the Term. The Landlord shall remit to the Tenantcalendar month, before each Lease Year, the estimated amount of the Additional Fixed 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 Subtenant’s Share of Additional Rent and Management Fee which are payable to the Landlord other costs an expenses shall then be established for said Lease Year appropriately prorated based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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) day month. Additionally, Subtenant shall pay to Sublandlord, as additional rent hereunder, within twenty (20) days following after written request therefor, any other payments for which Sublandlord shall become responsible to Master Landlord or Sublandlord under the delivery Master Lease or this Sublease with respect to the Sublease Premises, including, but not limited to, additional rent arising (i) by reason of the above-mentioned statementSubtenant’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.
Appears in 1 contract
Payment of Rent. The Annual Base Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar 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 at Landlord’s address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, xxxx Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate xxxx shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only 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 Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term. Any such prorated Base Rental, plus the Base Rental for the said Lease Year. Should the amount of such Additional Rent and first full month of the Management Fee then determined 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 greater applied to the payment of Base Rental by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or less ends at any time other than the total 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 amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Samples: Office Lease Agreement
Payment of Rent. The Tenant agrees to pay Landlord as Annual Base Basic Rent shall be paid for the Premises the Annual Basic Rent designated in Section l(q) (subject to adjustment as hereinafter provided) in twelve (12) equal consecutive monthly instalments installments, (“Monthly Basic Rent”) each in advance on the first day of each and every calendar month during said term. In the Term. Subject to section 4.3, event the term of this Lease commences or ends on a day other than the first monthly instalment day of a calendar month, then the Annual Base Rent rental for such periods shall be prorated in the proportion that the number of days this Lease is in effect during such periods bears to thirty (30), and such rental shall be paid by at the commencement of such periods. In addition to said Annual Basic Rent, Tenant on agrees to pay the Commencement Date of the Term. 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 rental adjustments as and when hereinafter provided in this Lease. Said Annual Basic Rent, additional rent, and rental adjustments shall pay directly be paid to third parties) Landlord, without any prior demand therefor and without any deduction or offset whatsoever, except as otherwise specifically provided in this Lease, in lawful money of the Management Fee for that periodUnited States of America, and which shall be legal tender at the monthly payments time of Additional Rent and Management Fee which are payable payment, at the address of Landlord designated in Section 1(b) or to the Landlord shall then be established for said Lease Year based on that estimate. The such other person or at such other place as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Feedesignate in writing. Further, all charges to be paid by Tenant hereunder, including, without limitation, payments for real property taxes, insurance, repairs, and in such case parking shall notify the Tenant in writing of the re-evaluation and establish monthly payments be considered additional rent for the unexpired period purposes of such Lease Year or of such part only of a Lease Yearthis Lease, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee word “rent” in this Lease shall include such additional rent unless the context specifically states or clearly implies that only the Annual Basic Rent is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementreferenced.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Payment of Rent. The Annual Base Tenant agrees to pay to Landlord, commencing on the Rent shall be paid in equal consecutive Commencement Date, and continuing and monthly instalments in advance throughout the remainder of the Lease Term, on the first day of each and every calendar month during the Original Term. Subject , a sum equal to section 4.3, the first monthly instalment one-twelfth (1/12th) of the Annual Base Fixed Rent specified in Section 1.2 hereof and on the first 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 determined in Section 3.4 for the applicable Extended Term. Annual Fixed Certain information indicated with [***] in this document has been omitted from this exhibit because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the Rent Commencement Date shall be other than the first day of a calendar month, the first payment of 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 Rent Commencement Date to the first day of the 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 address 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, as elsewhere provided in this Lease, likewise shall be prorated, 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 and other provisions of the Termthis Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. The Landlord shall remit to the TenantAnnual Fixed Rent, 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 all other charges for which are payable provision is made in this Lease shall be paid by Tenant to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and in lawful money of the Management FeeUnited States in immediately available funds and without notice or demand and with setoff, and deduction or abatement, except as otherwise expressly set forth in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the 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 delivery of the above-mentioned statementthis Lease.
Appears in 1 contract
Payment of Rent. The Annual term "Rent" as 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 Lease 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 paid in equal consecutive monthly instalments due and payable in advance in monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3Term hereof, the first monthly instalment in legal tender of the Annual Base Rent shall be paid by United States of America to Landlord at the Tenant on the Commencement Date of the Term. The Landlord shall remit address shown in Section 5.16 or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such 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 that estimate. The person or at such other address as Landlord may from time to time during a designate in writing. The Rent shall be paid without notice, demand, abatement, deduction or offset except as otherwise expressly provided for in the Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case . In no event shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount accept or be bound by any payment of the Additional Rent (other more than the portion thereof which the Tenant has paid directly to third parties) and of the 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 in advance, unless otherwise agreed to in writing between Landlord and Tenant. If the delivery Term commences or ends on other than the first or last day of a calendar month, then the installment of Base Rental and the Parking Rentals for such partial month shall be appropriately prorated. If the Term commences or ends at any time other than the first day of a calendar year, the Tenant's Proportional Share of Actual Operating Expenses in excess of the above-mentioned statementBase Operating Expenses Rate shall be prorated for such year according to the number of days of the Term during such year. In no event shall Base Rental or monthly installments thereof be less than the amounts specified in Section 2.01.
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Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Payment of Rent. The Annual Base All Rent shall be paid in equal consecutive monthly instalments 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 writing, on the first day of each and every calendar month during the Term. Subject All such payments shall be made by good checks payable to section 4.3Landlord 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 first monthly instalment of the Annual 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 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 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 four percent (4%). In addition, if any amount of Rent required to be paid by Tenant to Landlord under the Tenant on terms of this Lease is not paid within five (5) days after the Commencement Date of date such payment is due, then in addition to paying the Term. 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 then due, Tenant shall pay directly to third partiesLandlord a late charge (the “Late Charge”) and equal to five percent (5%) 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 during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, 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 remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of Rent then required to be paid. Payment of such Additional Late Charge will not excuse the untimely payment of Rent. In the event Tenant makes any payment of Rent by check and of the Management Fee then determined said check is returned by the bank unpaid, Tenant shall pay to Landlord be greater or less than the total sum of One Hundred Dollars ($100.00) to cover the amounts already paid by costs and expenses of processing the Tenant returned check, in addition to the LandlordRent payment and any other charges provided for herein. Any interest, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLate Charge and other amounts charged hereunder shall constitute Additional Rent.
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Samples: Deed of Lease (Iceweb Inc)