Payment of Rental. (a) Tenant shall pay all Rental when due and payable, without any offset, deduction or prior demand therefor whatsoever. Any Additional Rent due shall be payable, unless otherwise provided herein, with the next monthly installment of Base Rent. Rental shall be paid and delivered to Landlord at Landlord's Address or at such other place as Landlord may, from time to time, designate by notice to Tenant. No payment by Tenant or acceptance by Landlord of a lesser amount than shall be due from Tenant to Landlord shall be treated as other than a payment on account, nor shall any endorsement or statement on a check for a lesser amount, or upon any letter accompanying such check, that such lesser amount is payment in full, be deemed an accord and satisfaction or given any effect, and Landlord may accept such check without prejudice to any other rights or remedies which Landlord may have against Tenant. (b) If Tenant shall fail to pay any installment of Base Rent, Escalation Rent or any other item of Rental within five (5) Business Days of the date when due, Tenant shall pay to Landlord, in addition to such installment of Base Rent, Escalation Rent or other item of Rental (including but not limited to any late charge due pursuant to this Section 4.7), as the case may be, as a late charge and as Additional Rent, a sum equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was due to and including the date of payment. If any payment of Rental is not made within ten (10) Business Days after the due date, there shall be added thereto, as Additional Rent to compensate Landlord for the inconvenience, administrative burden and expense created thereby, an amount equal to ten percent (10%) of the amount due, and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late payment. In the event that the interest and late charges which would be required to be paid by Tenant under this Section 4.7 exceed the maximum interest and late charges which may be permitted by the laws of the Commonwealth of Massachusetts, the interest obligation of Tenant shall be that amount which, when added to the applicable late charges, equals such maximum permitted amount. (c) If at the commencement of, or at any time or times during, the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of the Term, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (ii) Tenant shall pay to Landlord, if legally permissible, an amount equal to (x) the items of Rental which would have been paid pursuant to this Lease but for such legal rent restriction, less (y) the rents paid by Tenant to Landlord during the period or periods such legal rent restriction was in effect.
Appears in 2 contracts
Samples: Office Lease (Tufin Software Technologies Ltd.), Office Lease (Tufin Software Technologies Ltd.)
Payment of Rental. (a) Tenant shall pay all Rental when due and payable, without any offsetsetoff, deduction or prior demand therefor whatsoever. Except as provided herein, Tenant shall not pay any Rental earlier than one (1) month in advance of the date on which it is due. If Tenant shall fail to pay any Rental within seven (7) days after the same is due, Tenant shall be obligated to pay a late payment charge equal to the greater of One Hundred Dollars ($100.00) or ten percent (10%) of any Rental payment not paid when due to reimburse Landlord for its additional administrative costs. In addition, any Rental which is not paid within seven (7) days after the same is due shall bear interest at the Default Rate from the first day due until paid. Any Additional Rent Rental which shall become due shall be payable, unless otherwise provided herein, with the next monthly installment of Base RentAnnual Basic Rental. Rental and statements required of Tenant shall be paid and delivered to Landlord at Landlord's Address the management office of Landlord in the Shopping Center Area during normal business hours, or at such other place as Landlord may, may from time to time, time designate by in a notice to Tenant. No Any payment by Tenant or acceptance by Landlord of a lesser amount than shall be due from Tenant to Landlord shall be treated as other than a payment on account, nor shall any endorsement or statement on . The acceptance by Landlord of a check for a lesser amountamount with an endorsement or statement thereon, or upon any letter accompanying such check, that such lesser amount is payment in full, shall be deemed an accord and satisfaction or given any no effect, and Landlord may accept such check without prejudice to any other rights or remedies which Landlord may have against Tenant.
(b) If Tenant shall fail to pay any installment of Base Rent, Escalation Rent or any other item of Rental within five (5) Business Days of the date when due, Tenant shall pay to Landlord, in addition to such installment of Base Rent, Escalation Rent or other item of Rental (including but not limited to any late charge due pursuant to this Section 4.7), as the case may be, as a late charge and as Additional Rent, a sum equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was due to and including the date of payment. If any payment of Rental is not made within ten (10) Business Days after the due date, there shall be added thereto, as Additional Rent to compensate Landlord for the inconvenience, administrative burden and expense created thereby, an amount equal to ten percent (10%) of the amount due, and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late payment. In the event that the interest and late charges which would be required to be paid by Tenant under this Section 4.7 exceed the maximum interest and late charges which may be permitted by the laws of the Commonwealth of Massachusetts, the interest obligation of Tenant shall be that amount which, when added to the applicable late charges, equals such maximum permitted amount.
(c) If at the commencement of, or at any time or times during, the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of the Term, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (ii) Tenant shall pay to Landlord, if legally permissible, an amount equal to (x) the items of Rental which would have been paid pursuant to this Lease but for such legal rent restriction, less (y) the rents paid by Tenant to Landlord during the period or periods such legal rent restriction was in effect.
Appears in 2 contracts
Samples: Lease Agreement (Ciao Cucina Corp), Lease Agreement (Boston Restaurant Associates Inc)
Payment of Rental. (a) Tenant shall pay all Rental when due and payable, without any offset, counterclaim, deduction or prior demand therefor whatsoever. All Rental and other sums due hereunder shall be paid in U.S. currency. If Tenant shall fail to pay any Rental on or before the date such payment is due, Tenant shall be obligated to pay a late payment charge (a “Late Fee”) equal to the greater of (i) $500 or (ii) four percent (4%) of such Rental payment that is past due. In addition, any Rental which is not paid on or before the date such payment is due shall bear interest at the Default Rate from the first day due until paid. Notwithstanding the foregoing, Tenant shall not be required to pay any Late Fee or interest the first time in any twelve month period that Rental is paid late, provided that such Rental is paid within ten (10) days of written notice from Landlord of such deficiency. Any Additional Rent Rental which shall become due shall be payable, unless otherwise expressly provided herein, shall be paid with the next monthly installment of Base RentAnnual Basic Rental. Rental and statements required of Tenant shall be paid and delivered to Landlord at Landlord's Address its notice address set out in Section 17.1 or at such other place as Landlord may, from time to time, designate by in a notice to Tenant. No such change of the place of payment of Rental shall be effective until thirty (30) days from the date of notice thereof to Tenant. Any payment by Tenant or acceptance by Landlord of a check for a lesser amount than shall be due from Tenant to Landlord shall be treated as other than a payment on account, nor shall any endorsement or statement on . The acceptance by Landlord of a check or other form of payment for an amount less than the amount then due and payable, even if accompanied by a statement from Tenant that the lesser amountamount is the entire amount due, or upon any letter accompanying and acceptance of such check, lesser amount shall not constitute Landlord’s acceptance and agreement that such lesser amount is payment in full, shall not be deemed an accord a waiver of Landlord’s rights to collect the amounts not tendered and satisfaction or any such Tenant statements shall be given any no effect, and Landlord may accept such check payment without prejudice to any other rights or remedies which Landlord may have against Tenant.
(b) If Tenant shall fail to pay any installment of Base Rent, Escalation Rent or any other item of Rental within five (5) Business Days of the date when due, Tenant shall pay to Landlord, in addition to such installment of Base Rent, Escalation Rent or other item of Rental (including but not limited to any late charge due pursuant to this Section 4.7), as the case may be, as a late charge and as Additional Rent, a sum equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was due to and including the date of payment. If any payment of Rental is not made within ten (10) Business Days after the due date, there shall be added thereto, as Additional Rent to compensate Landlord for the inconvenience, administrative burden and expense created thereby, an amount equal to ten percent (10%) of the amount due, and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late payment. In the event that the interest and late charges which would be required to be paid by Tenant under this Section 4.7 exceed the maximum interest and late charges which may be permitted by the laws of the Commonwealth of Massachusetts, the interest obligation of Tenant shall be that amount which, when added to the applicable late charges, equals such maximum permitted amount.
(c) If at the commencement of, or at any time or times during, the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of the Term, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (ii) Tenant shall pay to Landlord, if legally permissible, an amount equal to (x) the items of Rental which would have been paid pursuant to this Lease but for such legal rent restriction, less (y) the rents paid by Tenant to Landlord during the period or periods such legal rent restriction was in effect.
Appears in 1 contract
Payment of Rental. (a) For all purposes hereof, payment of Rental payable to Landlord hereunder shall be made and effective when, and not until, the Rental funds are received by Landlord and are in a form readily and immediately available for expenditure by Landlord, including without limitation wire transfer to Landlord’s account or checks payable to Landlord after payment thereon by Tenant’s bank upon which the check is drawn. Tenant shall pay all Rental when due and payable, and, except as provided herein, without any offset, counterclaim, deduction or prior demand therefor whatsoevertherefor. If Tenant shall fail to pay any Rental within five (5) days following the date such payment is due, Tenant shall be obligated to pay a late payment charge (a “Late Fee”) of four percent (4%) of the payment due; provided, however, that if Tenant becomes obligated to pay a Late Fee hereunder, the Late Fee shall be payable on all other Rental payments payable during the same Rental Year if such other Rental payment or payments are not made on the date such other payment or payments are due. In addition, any Rental or other amounts payable hereunder which is not paid within fifteen (15) days after the same is due, including without limitation money advanced by Landlord on behalf of Tenant to pay amounts payable by Tenant hereunder, shall bear interest at the Default Rate from the first day due until paid. Any Additional Rent Rental which shall become due shall be payable, unless otherwise expressly provided herein, shall be paid with the next monthly installment of Base RentAnnual Basic Rental. Rental and statements required of Tenant shall be paid and delivered to Landlord at Landlord's Address its notice address set out in Section 17.1, or at such other place as Landlord may, from time to time, designate by in a notice to Tenant. No Any payment by Tenant or acceptance by Landlord of a check for a lesser amount than shall be due from Tenant to Landlord shall be treated as other than a payment on account, nor shall any endorsement or statement on a check for a lesser amount, or upon any letter accompanying such check, that such lesser amount is payment in full, be deemed an accord and satisfaction or given any effect, and Landlord may accept such check without prejudice to any other rights or remedies which Landlord may have against Tenant.
(b) If Tenant shall fail to pay any installment of Base Rent, Escalation Rent or any other item of Rental within five (5) Business Days of the date when due, Tenant shall pay to Landlord, in addition to such installment of Base Rent, Escalation Rent or other item of Rental (including but not limited to any late charge due pursuant to this Section 4.7), as the case may be, as a late charge and as Additional Rent, a sum equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was due to and including the date of payment. If any payment of Rental is not made within ten (10) Business Days after the due date, there shall be added thereto, as Additional Rent to compensate Landlord for the inconvenience, administrative burden and expense created thereby, an amount equal to ten percent (10%) of the amount due, and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late payment. In the event that the interest and late charges which would be required to be paid by Tenant under this Section 4.7 exceed the maximum interest and late charges which may be permitted by the laws of the Commonwealth of Massachusetts, the interest obligation of Tenant shall be that amount which, when added to the applicable late charges, equals such maximum permitted amount.
(c) If at the commencement of, or at any time or times during, the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of the Term, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (ii) Tenant shall pay to Landlord, if legally permissible, an amount equal to (x) the items of Rental which would have been paid pursuant to this Lease but for such legal rent restriction, less (y) the rents paid by Tenant to Landlord during the period or periods such legal rent restriction was in effect.
Appears in 1 contract
Samples: Lease Agreement (Boston Gear LLC)
Payment of Rental. 6.1 All Fixed Rent, Escalation Charges, Additional Rent, and all other costs, charges and sums payable by Subtenant hereunder (a) Tenant collectively, “Rental”), shall pay all Rental when due and payableconstitute rent under this Sublease. Fixed Rent, without any offsetEscalation Charges, deduction or prior demand therefor whatsoever. Any Additional Rent due and all other items of Rental shall be payablepayable to Sublandlord at Sublandlord’s office specified in Article 17 hereof (or such other location as Sublandlord shall specify in writing) by check drawn on a bank which is a member of the New York Clearing House Association, unless Sublandlord shall otherwise so direct in writing.
6.2 Except as otherwise expressly provided herein, with Subtenant shall promptly pay the next monthly installment Rental as and when the same shall become due and payable hereunder without demand, set-off, offset, abatement or deduction of Base Rentany kind whatsoever, and, in the event of Subtenant’s failure to pay the same when due (subject to grace periods provided herein), Sublandlord shall have all of the rights and remedies provided for herein or at law or in equity, in the case of non-payment of rent. Rental Subtenant’s covenant to pay rent shall be paid and delivered to Landlord at Landlord's Address or at independent of every other covenant in this Sublease. Subtenant’s liability for such other place as Landlord may, from time to time, designate by notice to Tenant. No payment by Tenant or acceptance by Landlord amounts shall survive the expiration of a lesser amount than shall be due from Tenant to Landlord shall be treated as other than a payment on account, nor shall any endorsement or statement on a check for a lesser amount, or upon any letter accompanying such check, that such lesser amount is payment in full, be deemed an accord and satisfaction or given any effect, and Landlord may accept such check without prejudice to any other rights or remedies which Landlord may have against Tenantthe Sublease Term.
(b) If Tenant shall fail to pay any installment 6.3 To cover the additional expense incurred by the Sublandlord in the handling of Base each delinquent payment of Fixed Rent, Escalation Charges, Additional Rent or any and other item charges payable to Sublandlord by Subtenant pursuant to this Sublease, Subtenant will pay upon notice if and to the extent permitted by applicable law, (i) for each dollar of Rental within five (5) Business Days such delinquent payment of the date when due, Tenant shall pay to Landlord, in addition to such installment of Base Fixed Rent, Escalation Charges, Additional Rent or and other item of Rental charges if any such amount is received later than three (including but not limited to any late charge 3) business days after its due pursuant to this Section 4.7)date, as the case may be, as a late charge and as Additional Rent, a sum equal to interest at the Applicable Rate on lesser of (A) an annual rate equal to the amount unpaidfloating prime rate of Citibank, computed N.A. plus two (2%) percent or (B) the maximum rate permitted by law, and to accrue from the date such payment was due to and including the date amounts of payment. If any payment of Rental is not made within ten (10) Business Days after the due dateFixed Rent, there shall be added theretoEscalation Charges, as Additional Rent and other charges first became due hereunder (such payment referred to compensate Landlord for the inconvenienceherein as, administrative burden and expense created thereby, an amount equal to ten percent (10%) of the amount due, and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late payment. In the event that the interest and late charges which would be required to be paid by Tenant under this Section 4.7 exceed the maximum interest and late charges which may be permitted by the laws of the Commonwealth of Massachusetts, the interest obligation of Tenant shall be that amount which, when added to the applicable late charges, equals such maximum permitted amount.
(c) If at the commencement of, or at any time or times during, the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease“Late Payment Costs”). Upon the termination of such legal rent restriction prior to the expiration of the Term, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (ii) Tenant upon each occasion of a delinquent payment at the time that such amount becomes delinquent, provided that Subtenant incurred liability for Late Payment Costs on one or more prior occasions, in any twelve (12) month period until such time as twelve (12) consecutive months shall pay have elapsed without Subtenant having failed to Landlordmake such payment when due, if legally permissible, a “late charge” in an amount equal to four (x4%) percent of such delinquent payment except that in the items case of any monthly payment of Fixed Rent such late charge shall be $1750.00, to cover the administrative expenses of handling such late payment.
6.4 Sublandlord’s failure during the Sublease Term to prepare and deliver any statements or bills required to be delivered to Subtenant hereunder, or Sublandlord’s failure to make a demand under any provision of this Sublease shall not in any way be deemed to be a waiver of, or cause Sublandlord to forfeit or surrender its rights to collect any Rental which would may have been paid become due pursuant to this Lease but for such legal rent restriction, less (y) the rents paid by Tenant to Landlord Sublease during the period Sublease Term. Subtenant’s liability for Rental due hereunder accruing during the Sublease Term, and Sublandlord’s obligation to refund overpayments of or periods adjustments to Rental paid to it by Subtenant, shall survive the expiration or sooner termination of this Sublease. Notwithstanding the foregoing, Subtenant shall have no obligation to pay any such legal rent restriction was statements or bills received by Subtenant later than twelve (12) months after the expiration of this Sublease, except for or as to such statements or bills received by Sublandlord from Overlandlord or Master Landlord thereafter, provided that Sublandlord then furnishes such statement or bxxx to Subtenant within thirty (30) business days after Sublandlord’s receipt thereof from Overlandlord or Master Landlord.
6.5 Except as otherwise provided herein, in effectno event shall any adjustment of any amounts payable by Subtenant result in a decrease in Fixed Rent, nor shall any adjustment of any item of Additional Rent payable by Subtenant result in a decrease in any other item of Additional Rent payable by Subtenant, it being understood and agreed that the payment of any item of Additional Rent under this Sublease is an obligation supplemental to Subtenant’s obligations to pay Fixed Rent and any other item of Additional Rent.
Appears in 1 contract
Payment of Rental. (a) Tenant shall pay all Rental when due and payable, without any offset, deduction or prior demand therefor whatsoever. Any Additional Rent due shall be payable, unless otherwise provided herein, with the next monthly installment of Base Rent. A. Minimum Rental shall be paid quarterly, in advance, on or before the first day of January, April, July and delivered October during each Year. Minimum Rental for any Partial Fiscal Year shall be prorated and computed by multiplying the annual Minimum Rental by a fraction, the numerator of which is the number of days in such partial Year and the denominator of which is three hundred and sixty-five (365) or three hundred sixty-six (366) as the case may be. Payments for any Partial Fiscal Year shall be made in the same manner and at the same times as payments are to be made during a full Fiscal Year as provided in this Section. Percentage Rental shall be calculated on a Fiscal Year (or Partial Fiscal Year) basis and shall be paid in arrears on or before forty-five (45) days after the end of each Fiscal Year or Partial Fiscal Year in which Percentage Rental become due. All installments of Rental not paid by Tenant when same become due shall bear interest from the date due until paid at the Lease Interest Rate. Time is of the essence, and installments of Rental shall become due and payable without Notice or demand. All Rental payments shall be made in lawful money of the United States of America and shall be paid to Landlord at Landlord's Address address for receipt of Notices or at to such other place party and/or to such other address as Landlord may, may from time to time, time designate by notice Notice to Tenant. No Tenant in accordance with this Lease.
B. Tenant acknowledges that late payment of Rental by Tenant or acceptance by Landlord of a lesser amount than shall be due from Tenant to Landlord shall will cause Landlord to incur costs not contemplated in this Lease, the exact amount of which will be treated as other than extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges that may be imposed upon Landlord by the terms of any mortgage covering the Premises. Accordingly, in addition to the interest payable by Tenant pursuant to Section 5.02A, after a payment on account, nor shall any endorsement or statement on a check for a lesser amount, or upon any letter accompanying such check, that such lesser amount is payment in full, be deemed an accord and satisfaction or given any effect, and Landlord may accept such check without prejudice to any other rights or remedies which Landlord may have against Tenant.
(b) If Tenant shall fail to pay any installment period of Base Rent, Escalation Rent or any other item of Rental within five (5) Business Days of days following the date when due, all or any portion of Rental is due and unpaid Tenant shall pay to Landlord, in addition to such installment of Base Rent, Escalation Rent or other item of Rental (including but not limited to any late charge due pursuant to this Section 4.7), as the case may be, as a late charge and as Additional Rent, a sum equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was due to and including the date of payment. If any payment of Rental is not made within ten (10) Business Days after the due date, there shall be added thereto, as Additional Rent to compensate Landlord for the inconvenience, administrative burden and expense created thereby, an amount equal to ten five percent (105 %) of the amount due, of such unpaid instillment or portion thereof. The parties agree such late charges represent a fair and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) reasonable estimate of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) cost Landlord will incur by reason of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late payment. payment by Tenant.
C. In the event that the interest Premises are damaged by fire or other casualty and late charges Tenant discontinues all or substantially all business operations therein, Tenant's obligation to pay Percentage Rental for the Fiscal Year in which would be required to be paid by Tenant under this Section 4.7 exceed the maximum interest and late charges which may be permitted by the laws of the Commonwealth of Massachusetts, the interest obligation of Tenant has so discontinued its business operations shall be that amount which, when added to computed as if such Fiscal Year was a Partial Fiscal Year and as if the applicable late charges, equals number of days in such maximum permitted amountPartial Fiscal Year excluded the number of days during which Tenant discontinued all or substantially all of its business operations in the Premises.
(c) If at the commencement ofD. If, or at any time or times duringduring the Term, there is a good faith dispute between Landlord and Tenant with respect to the Term amount of this LeasePercentage Rental properly due hereunder Tenant's failure to pay the disputed amount shall not be deemed an Event of Default with respect to the provisions of Section 20.01 and 20.02 until such time as the dispute is resolved; provided, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then that Tenant shall enter pay any such disputed amount of Percentage Rental into such agreements an escrow account to be held and take invested by the Insurance Trustee or such other steps (without additional expense to Tenant) as Landlord may reasonably request and escrow agent as may be legally permissible mutually approved by Landlord and Tenant (specifically created for such purpose with interest to permit Landlord to collect the maximum rents which may from time to time during the continuance follow final distribution of principal) as soon as such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of the Term, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such terminationdisputed amount becomes known, and (ii) Tenant the provisions of Section 5.02B shall pay apply to Landlord, if legally permissible, an any such disputed amount equal ultimately determined to (x) be due Landlord but with payment into the items of Rental which would have been paid pursuant to this Lease but for such legal rent restriction, less (y) the rents paid by Tenant escrow account being deemed payment to Landlord during the period or periods such legal rent restriction was in effect.for purposes of Section 5.02B.
Appears in 1 contract
Payment of Rental. (aLESSEE shall pay the minimum guaranteed rental as specified on the face of this Agreement and the full rental rates during any extension thereto. The rent payable shall be at the rate specified in this Agreement undiminished by any offset or credit on ac- count of LESSEE’s sooner surrender of the Equipment or the reason- able rental value thereof, whether or not thereafter LESSOR shall itself use said Equipment or shall rent any comparable Equipment it may have to others, or on account of any payment by LESSEE of additional rental for overtime use pursuant to the overtime and shift provisions on the face of this Agreement, or of any other charges, costs or damages hereunder; provided, however, that the rental payments, if any, actually received by LESSOR under a new lease for any part of the minimum term shall be credited to LESSEE, subject to repossession, recondi- tioning, re-leasing costs and all other charges and claims of LESSOR against LESSEE. LESSEE shall be responsible for and pay: i) Tenant all taxes, levies, fees and other public charges against or upon any of the Equip- ment, including without limitation personal property taxes; ii) all fines, penalties, forfeitures, court costs, expenses and attorneys’ fees arising with respect to LESSEE’s possession, transportation, use maintenance or repair of the Equipment, including without limitation, any parking, traffic or other violations assessed against the Equipment, LESSOR or LESSEE; iii) all costs of repairs to the Equipment and any related ex- penses. LESSEE shall pay all Rental when due rents to the offices of LESSOR at BIGGE CRANE AND RIGGING CO. X.X. Xxx 000000, Xxxxxx, XX 00000-0000 or all overnight mail by special couriers should be sent to the actual site address - Lockbox Services 205220, BIGGE CRANE AND RIGGING CO. 0000 XXXXXX XXXX, XXXXXX, XX 00000 and payableshould reflect Lock- box Services and the Lockbox Number in the reference section of the air xxxx, without any offset, deduction or prior demand therefor whatsoever. Any Additional Rent due shall be payable, unless otherwise provided herein, with the next monthly installment of Base Rent. Rental shall be paid and delivered to Landlord at Landlord's Address or at such other place as Landlord mayLESSOR may designate. If requested by LESSOR, from time to time, designate by notice to Tenant. No payment by Tenant or acceptance by Landlord of a lesser amount than shall be due from Tenant to Landlord shall be treated as other than a payment on account, nor shall any endorsement or statement on a check for a lesser amount, or upon any letter accompanying such check, that such lesser amount is payment in full, be deemed an accord and satisfaction or given any effect, and Landlord may accept such check without prejudice to any other rights or remedies which Landlord may have against Tenant.
(b) If Tenant shall fail to pay any installment of Base Rent, Escalation Rent or any other item of Rental within five (5) Business Days of the date when due, Tenant LESSEE shall pay to Landlordrentals monthly in advance; otherwise, in addition to such installment of Base Rent, Escalation Rent or other item of Rental (including but not limited to any late charge due pursuant to this Section 4.7), as the case may be, as a late charge and as Additional Rent, a sum equal to interest LESSOR shall submit 28-day rental invoices at the Applicable Rate on beginning of each rental period and LESSEE shall pay the amount unpaid, computed from the date such payment was due to and including the date of payment. If any payment of Rental is not made same in full within ten (10) Business Days after days of the due invoice date, there . Labor charges for Borrowed Servants will be based upon timecards submitted by LESSOR to LESSEE for signature; timecards shall be added thereto, as Additional Rent to compensate Landlord for the inconvenience, administrative burden and expense created thereby, an amount equal to ten percent (10%) of the amount due, and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late paymentdeemed final unless disputed by LESSEE within 7 days from submittal. In the event that the interest and late charges which would be required to of a dispute, undisputed amounts shall be paid when due. Unpaid amounts shall bear interest from the due date until paid at 18% per annum or the highest rate allowed by Tenant under law, whichever is less, and accrual or payment of such interest shall not impair LESSOR’s right otherwise to repossess the Equipment or to terminate this Section 4.7 exceed lease or to any other remedies it may have. Any accesso- xxxx or attachments not included with the maximum interest and late charges which may be permitted by the laws of the Commonwealth of Massachusetts, the interest obligation of Tenant Equipment leased hereunder shall be that amount which, when added to the applicable late charges, equals such maximum permitted amount.
(c) If separately furnished by and at the commencement of, expense of LESSEE. If any such accessories or at any time or times during, the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction attachments are ordered prior to the expiration of the TermRental Start Date, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (ii) Tenant LESSEE shall pay to Landlord, if legally permissible, an amount equal to such costs within thirty (x30) the items days of Rental which would have been invoice. All mobilization and installation costs shall be paid pursuant to this Lease but for such legal rent restriction, less within thirty (y30) the rents paid by Tenant to Landlord during the period or periods such legal rent restriction was in effectdays of invoice.
Appears in 1 contract
Samples: Equipment Lease Agreement
Payment of Rental. (a) Tenant shall pay all Rental when due and payable, without any offset, counterclaim, deduction or prior demand therefor whatsoever, except as expressly provided for in this Lease. All Rental and other sums due hereunder shall be paid in U.S. currency. If Tenant shall fail to pay any Rental on or before the later of (i) the date such payment is due or (ii) five (5) days after Landlord has provided Tenant with written notice of its failure to timely pay rent (provided that Landlord shall not be obligated to provide more than two (2) such notices in any calendar year), then Tenant shall be obligated to pay a late payment charge (a “Late Fee”) equal to the greater of (i) $1,000 or (ii) five percent (5%) of such Rental payment that is past due. In addition, any Rental which is not paid by the date that is ten (10) days after the date such payment is due shall bear interest at the Default Rate from the first day due until paid. Any Additional Rent Rental which shall become due shall be payable, unless otherwise expressly provided herein, shall be paid with the next monthly installment of Base RentAnnual Basic Rental. Rental and statements required of Tenant shall be paid and delivered to Landlord at Landlord's Address its notice address set out in Section 17.1 or at such other place as Landlord may, from time to time, designate by in a notice to Tenant. No such change of the place of payment of Rental shall be effective until thirty (30) days from the date of notice thereof to Tenant. Any payment by Tenant or acceptance by Landlord of a check for a lesser amount than shall be due from Tenant to Landlord shall be treated as other than a payment on account, nor shall any endorsement or statement on . The acceptance by Landlord of a check or other form of payment for an amount less than the amount then due and payable, even if accompanied by a statement from Tenant that the lesser amountamount is the entire amount due, or upon any letter accompanying and acceptance of such check, lesser amount shall not constitute Landlord’s acceptance and agreement that such lesser amount is payment in full, shall not be deemed an accord a waiver of Landlord’s rights to collect the amounts not tendered and satisfaction or any such Tenant statements shall be given any no effect, and Landlord may accept such check payment without prejudice to any other rights or remedies which Landlord may have against Tenant.
(b) If Tenant shall fail to pay any installment of Base Rent, Escalation Rent or any other item of Rental within five (5) Business Days of the date when due, Tenant shall pay to Landlord, in addition to such installment of Base Rent, Escalation Rent or other item of Rental (including but not limited to any late charge due pursuant to this Section 4.7), as the case may be, as a late charge and as Additional Rent, a sum equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was due to and including the date of payment. If any payment of Rental is not made within ten (10) Business Days after the due date, there shall be added thereto, as Additional Rent to compensate Landlord for the inconvenience, administrative burden and expense created thereby, an amount equal to ten percent (10%) of the amount due, and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late payment. In the event that the interest and late charges which would be required to be paid by Tenant under this Section 4.7 exceed the maximum interest and late charges which may be permitted by the laws of the Commonwealth of Massachusetts, the interest obligation of Tenant shall be that amount which, when added to the applicable late charges, equals such maximum permitted amount.
(c) If at the commencement of, or at any time or times during, the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of the Term, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (ii) Tenant shall pay to Landlord, if legally permissible, an amount equal to (x) the items of Rental which would have been paid pursuant to this Lease but for such legal rent restriction, less (y) the rents paid by Tenant to Landlord during the period or periods such legal rent restriction was in effect.
Appears in 1 contract
Payment of Rental. (a) Tenant shall pay all Rental to Landlord when due and payable, without any offsetsetoff, deduction or prior demand therefor whatsoever. Any If Tenant shall fail to pay any Rental within seven (7) days after notice from Landlord of such failure, Tenant shall be obligated to pay a late charge equal to the greater of One Hundred Dollars ($100.00) or five percent (5%) of any Rental payment not paid when due to reimburse Landlord for its additional administrative costs. In addition, any Rental which is not paid within seven (7) days after the same is due shall bear interest at the Default Rate from the first day due until paid. All Additional Rent Rental which shall be due shall be payable, unless otherwise provided herein, with the next monthly installment of Base RentAnnual Basic Rental. Rental Rental, reports and statements required of Tenant shall be paid and delivered to Landlord at Landlord's Address the management office of Landlord in the Shopping Center or at such other place as Landlord may, may from time to time, time designate by in a notice to Tenant. No Any payment by Tenant or acceptance by Landlord of Rental in a lesser amount than shall be due from Tenant to Landlord shall be treated as other than a payment on account, nor shall any endorsement or statement on . The acceptance by Landlord of a check for a lesser amountamount with an endorsement or statement thereon, or upon any letter accompanying such check, that such lesser amount is payment in full, shall be deemed an accord and satisfaction or given any no effect, and Landlord may accept such check without prejudice to any other rights or remedies which Landlord may have against Tenant.
(b) If Tenant shall fail to pay any installment of Base Rent, Escalation Rent or any other item of Rental within five (5) Business Days of the date when due, Tenant shall pay to Landlord, in addition to such installment of Base Rent, Escalation Rent or other item of Rental (including but not limited to any late charge due pursuant to this Section 4.7), as the case may be, as a late charge and as Additional Rent, a sum equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was due to and including the date of payment. If on more than one (1) occasion during the Term any payment of check for Rental is shall not made within ten (10) Business Days after the due date, there shall be added thereto, as Additional Rent to compensate Landlord for the inconvenience, administrative burden and expense created thereby, an amount equal to ten percent (10%) of the amount due, and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late payment. In the event that the interest and late charges which would be required to be paid by Tenant under this Section 4.7 exceed the maximum interest and late charges which may be permitted honored by the laws of the Commonwealth of Massachusettsbank on which it is drawn, the interest obligation of Tenant shall be that amount which, when added to the applicable late charges, equals such maximum permitted amount.
(c) If at the commencement of, or at any time or times during, the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may thereafter require that all future payments from Tenant be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of the Term, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (ii) Tenant shall pay to Landlord, if legally permissible, an amount equal to (x) the items of Rental which would have been paid pursuant to this Lease but for such legal rent restriction, less (y) the rents paid made by Tenant to Landlord during the period or periods such legal rent restriction was in effectcertified check.
Appears in 1 contract
Samples: Lease Agreement (Ashworth Inc)
Payment of Rental. (a) Annual Basic Rental shall be payable in equal monthly installments. The first payment of Annual Basic Rental shall be due and payable on the first day of the seventh month after the Commencement Date. Rental and statements required of Tenant shall be paid and delivered to SEPTA at the address designated herein or at such other place as SEPTA may from time to time designate in written notice to Tenant. Tenant shall pay all Rental when due and payable, without any offsetsetoff, deduction or prior demand therefor whatsoever. Except as provided herein, Tenant shall not pay any Rental earlier than one month in advance of the date on which it is due. If Tenant shall fail to pay any Rental within five days after the same is due, Tenant shall be obligated to pay a late payment charge equal to the greater $100.00 or 10% of any Rental payment not paid when due as reimbursement to SEPTA for its additional administrative costs. In addition, any Rental that is not paid within five days after the same is due shall bear interest at the Default Rate from the first day due until paid. Any Additional Rent Rental that shall become due shall be payable, unless otherwise provided herein, on an earlier of (a) receipt of a statement or invoice therefor from SEPTA, or (b) with the next monthly installment of Base RentAnnual Basic Rental. Rental shall be paid and delivered to Landlord at Landlord's Address or at such other place as Landlord may, from time to time, designate by notice to Tenant. No Any payment by Tenant or acceptance by Landlord SEPTA of a lesser amount than shall be due from Tenant to Landlord SEPTA shall be treated as other than a payment on account, nor shall any endorsement or statement on . The acceptance by SEPTA of a check for a lesser amountamount with an endorsement or statement thereon, or upon any letter accompanying such check, that such lesser amount is payment in full, shall be deemed an accord and satisfaction or given any no effect, and Landlord SEPTA may accept such check without prejudice to any other rights or remedies which Landlord that SEPTA may have against Tenant.
(b) If Tenant shall fail to pay any installment of Base Rent, Escalation Rent or any other item of Rental within five (5) Business Days of the date when due, Tenant shall pay to Landlord, in addition to such installment of Base Rent, Escalation Rent or other item of Rental (including but not limited to any late charge due pursuant to this Section 4.7), as the case may be, as a late charge and as Additional Rent, a sum equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was due to and including the date of payment. If any payment of Rental is not made within ten (10) Business Days after the due date, there shall be added thereto, as Additional Rent to compensate Landlord for the inconvenience, administrative burden and expense created thereby, an amount equal to ten percent (10%) of the amount due, and all Rental thereafter coming due shall be equal to one hundred ten percent (110%) of the Rental that would otherwise be due, making the total Rental due including the Additional Rent, one hundred ten percent (110%) of the Rental that would otherwise be due, which will continue thereafter as the Rental due so long as said Rental, including the Additional Rent, remains unpaid, due and payable. Such interest and late charge shall be in addition to, and not in limitation of, Landlord's other rights and remedies in the event of such late payment. In the event that the interest and late charges which would be required to be paid by Tenant under this Section 4.7 exceed the maximum interest and late charges which may be permitted by the laws of the Commonwealth of Massachusetts, the interest obligation of Tenant shall be that amount which, when added to the applicable late charges, equals such maximum permitted amount.
(c) If at the commencement of, or at any time or times during, the Term of this Lease, the Rental reserved in this Lease is not fully collectible by reason of any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of the Term, (i) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (ii) Tenant shall pay to Landlord, if legally permissible, an amount equal to (x) the items of Rental which would have been paid pursuant to this Lease but for such legal rent restriction, less (y) the rents paid by Tenant to Landlord during the period or periods such legal rent restriction was in effect.
Appears in 1 contract
Samples: Lease Agreement