Common use of PAYMENT OF RENTS Clause in Contracts

PAYMENT OF RENTS. 41.1 The Tenant shall pay to the Landlord the Rent, the Service Charge Estimate and any VAT payable on those sums without deduction, recoupment or set-off (whether legal or equitable) unless required to do so by law in four equal instalments in advance on the usual quarter days, and shall pay the Insurance Rent within 10 Business Days of demand and the Service Charge Balance and any VAT on it within 10 Business Days of demand (whether such demand is made and received before or after the end of the Term) and interest in accordance with clause 43.7. 41.2 The Tenant shall pay the first instalment of the Rent and any VAT due on it to the Landlord on the Rent Commencement Date, and the first instalment is to be a proportionate amount for the period from and including the Rent Commencement Date, until the next quarter day. 41.3 The Tenant shall pay the first instalment of the Service Charge Estimate and any VAT due on it to the Landlord on the date of this deed, and the first instalment is to be a proportionate amount for the period from and including the date of this Lease until the next quarter day. 41.4 If this Lease is not determined in accordance with clause 21 then: 41.4.1 the Tenant shall be granted an additional rent free period for a period of ten months from and including the Termination Date, during which time the Rent shall be a peppercorn (if demanded); and 41.4.2 immediately following the end of such additional rent free period, the Tenant shall pay to the Landlord on demand the amount of the Rent for the period from and including the expiry of such additional rent free period to and including the day prior to the next following usual quarter day. 41.5 If required by the Landlord, the Tenant shall pay the Rent and the Service Charge Estimate and any VAT on them by banker’s standing order to a bank account in the United Kingdom which the Landlord has notified in writing to the Tenant.

PAYMENT OF RENTS. 41.1 7.1 The Tenant shall pay to the Landlord the Rent, the Initial Service Charge or the Service Charge Estimate (as the case may be), the Insurance Rent and any VAT payable on those sums without deduction, recoupment or set-off (whether legal or equitable) unless required to do so by law in four equal instalments in advance on the usual quarter days, and (where the Tenant has paid the Service Charge Estimate) shall pay the Insurance Rent within 10 Business Days of demand and the Service Charge Balance and any VAT on it them within 10 20 Business Days of written demand (whether such demand is made and received before or after the end of the Term) and interest in accordance with clause 43.79.7. 41.2 7.2 The Tenant shall pay the first instalment of the Rent and any VAT due on it to the Landlord on the Rent Commencement Date, and the first instalment is to be a proportionate amount for the period from and including the Rent Commencement Date, until the next quarter day. 41.3 7.3 The Tenant shall pay the Initial Service Charge from the date of this Lease until (but excluding) the Service Charge Commencement Date. The first instalment of the Initial Service Charge Estimate and any VAT due on it shall be paid to the Landlord on the date of this deed, Lease and the first instalment is to shall be a proportionate amount for the period from and including the date of this Lease until the next quarter day. 41.4 If this Lease is not determined in accordance with clause 21 then: 41.4.1 the Tenant shall be granted an additional rent free period for a period of ten months from and including the Termination Date, during which time the Rent shall be a peppercorn (if demanded); and 41.4.2 immediately following the end of such additional rent free period, the 7.4 The Tenant shall pay the Service Charge Estimate from (and including) the Service Charge Commencement Date for the remainder of the Term. The first instalment of the Service Charge Estimate and any VAT due on it shall be paid to the Landlord on demand the Service Charge Commencement Date and shall be a proportionate amount of the Rent for the period from and including the expiry of such additional rent free period to and including the day prior to Service Charge Commencement Date until the next following usual quarter dayday (credit being given for any Initial Service Charge paid in respect of the period after the Service Charge Commencement Date). 41.5 7.5 If required by the Landlord, the Tenant shall pay the Rent and Rent, the Initial Service Charge, the Service Charge Estimate and any VAT on them by banker’s standing order electronic transfer to a bank account in the United Kingdom which the Landlord has notified in writing to the Tenant.

PAYMENT OF RENTS. 41.1 7.1 The Tenant shall pay to the Landlord the Rent, the Service Charge Estimate and any VAT payable on those sums without deduction, recoupment or set-off (whether legal or equitable) unless required to do so by law in four equal instalments in advance on the usual quarter days, and shall pay the Insurance Rent within 10 Business Days of demand and the Service Charge Balance and any VAT on it within 10 Business Days of demand (whether such demand is made and received before or after the end of the Term) and interest in accordance with clause 43.79.7. 41.2 7.2 The Tenant shall pay the first instalment of the Rent and any VAT due on it to the Landlord on the Rent Commencement Date, and the first instalment is to be a proportionate amount for the period from and including the Rent Commencement Date, until the next quarter day. 41.3 7.3 The Tenant shall pay the first instalment of the Service Charge Estimate and any VAT due on it to the Landlord on the date of this deed, and the first instalment is to be a proportionate amount for the period from and including the date of this Lease until the next quarter day. 41.4 7.4 If the Tenant does not exercise its right to determine this Lease is not determined in accordance with clause 21 then: 41.4.1 7.4.1 the Tenant shall be granted an additional rent free period for a period of ten five months from and including the Termination Date, during which time the Rent shall be a peppercorn (if demanded); and 41.4.2 7.4.2 immediately following the end of such additional rent free period, the Tenant shall pay to the Landlord on demand the amount of the Rent for the period from and including the expiry of such additional rent free period to and including the day prior to the next following usual quarter day. 41.5 7.5 If required by the Landlord, the Tenant shall pay the Rent and the Service Charge Estimate and any VAT on them by banker’s standing order to a bank account in the United Kingdom which the Landlord has notified in writing to the Tenant.

PAYMENT OF RENTS. 41.1 (a) On or before each date provided in the Bond Resolution for the payment of principal or interest on the Bonds, until the principal of, and interest on the Bonds shall have been paid in full, the Company shall pay or cause to be paid to or as directed by the Issuer, as Basic Rent for the Project, a sum equal to the amount payable on such date as principal of and interest on the Bonds, as provided in the Bond Resolution. In any event, each payment of Basic Rent under this Section shall be sufficient to pay the total amount of principal and interest on the Bonds payable on the payment date. Anything herein to the contrary notwithstanding, any amount at any time held in the Bond Fund shall be credited against the obligation to make payments of Basic Rent and shall reduce the Basic Rent payment to be then made by the Company. After payment in full of the Bonds, annual rental hereunder shall be $1.00. The Tenant Company shall have the right to prepay Basic Rent at any time and to cause a corresponding full or partial redemption of the Bonds as described in Section 2.09 of the Bond Resolution. Notwithstanding the foregoing, the Holder of the Bonds and the Issuer may provide for a home office payment agreement, or another document with home office payment provisions, for the payment of Basic Rent and debt service on the Bonds in a manner other than the manner set forth herein, in accordance with Section 4.03 of the Bond Resolution. (b) Notwithstanding anything herein to the contrary, should the Company not renew the Term of this Agreement for any Renewal Term as permitted by Section 5.1 hereof, the Company shall, on the date the Term will expire, pay or cause to be paid to or as directed by the Issuer, as Additional Rent in arrears, the sum equal to any remaining outstanding principal balance of the Bonds plus any accrued and unpaid interest on the Bonds in accordance with Section 4(b) of the Bond Purchase Agreement. Upon payment of such amounts, this Agreement will terminate. (c) Except for costs and expenses for which the Issuer or the State is expressly responsible for under the EDA, the Company agrees that it shall pay directly to the Issuer, as Additional Rent, an amount sufficient to reimburse the Issuer for all reasonable expenses and advances reasonably incurred by the Issuer hereunder in connection with the Project subsequent to the execution of this Agreement, including, but not limited to, the reasonable fees and expenses of counsel for the Issuer, provided that the same are incurred as a result of the failure of the Company to comply with the terms of this Agreement, subject to the notice obligations and cure periods set forth in Article X of this Agreement, or are subject to payment or indemnification by the Company hereunder. All payments of Additional Rent described in this paragraph shall be billed to the Company by the Issuer from time to time, together with a statement certifying that the amount for which reimbursement is sought for one or more of the above-described expenditures has been incurred or paid by the Issuer. Amounts so billed shall be paid by the Company within thirty (60) days after receipt of the bill, which shall contain reasonable detail, by the Company; the right of the Issuer to payments under this Section 5.3 is one of the Reserved Rights. In the event the Company shall fail to make any of the payments required in this Section 5.3, the unpaid amount shall continue as an obligation of the Company until fully paid, and shall accrue interest from such thirtieth day at the rate of 6.00% per annum. (d) The Company agrees that it will pay to the Landlord the Issuer as Supplemental Rent, all Recoupment Payments or Special Recoupment Payments (as such terms are defined in the Service Charge Estimate and any VAT payable on those sums EDA) owed by the Company to the Issuer pursuant to the terms of the EDA. Such payments of Supplemental Rent shall be paid at the times required by the EDA, shall be paid without deduction, recoupment or set-off (whether legal or equitable) unless required to do so by law in four equal instalments in advance on duplication of the usual quarter daysCompany’s obligations under the EDA, and shall pay the Insurance Rent within 10 Business Days of demand and the Service Charge Balance and any VAT on it within 10 Business Days of demand (whether such demand is made and received before or after the end of the Term) and interest in accordance with clause 43.7. 41.2 The Tenant shall pay the first instalment of the Rent and any VAT due on it be paid to the Landlord on the Rent Commencement Date, and the first instalment is to be a proportionate amount for the period from and including the Rent Commencement Date, until the next quarter day. 41.3 The Tenant shall pay the first instalment of the Service Charge Estimate and any VAT due on it Issuer or to the Landlord on State, in whole or in part, as set forth in the date of this deed, and the first instalment is to be a proportionate amount for the period from and including the date of this Lease until the next quarter day. 41.4 If this Lease is not determined EDA or as directed in accordance with clause 21 then: 41.4.1 the Tenant shall be granted an additional rent free period for a period of ten months from and including the Termination Date, during which time the Rent shall be a peppercorn (if demanded); and 41.4.2 immediately following the end of such additional rent free period, the Tenant shall pay to the Landlord on demand the amount of the Rent for the period from and including the expiry of such additional rent free period to and including the day prior to the next following usual quarter day. 41.5 If required writing by the Landlord, the Tenant shall pay the Rent and the Service Charge Estimate and any VAT on them by banker’s standing order to a bank account in the United Kingdom which the Landlord has notified in writing to the TenantIssuer.

PAYMENT OF RENTS. 41.1 7.1 The Tenant shall pay to the Landlord the Rent, the Initial Service Charge, the Service Charge Estimate and any VAT payable on those sums without deduction, recoupment or set-off (whether legal or equitable) unless required to do so by law in four equal instalments in advance on the usual quarter days, and shall pay the Insurance Rent within 10 Business Days of demand and demand, the Initial Service Charge, the Service Charge Balance and the Road Cost and any VAT on it within 10 Business Days of them on demand (whether such demand is made and received before or after the end of the Term) and interest in accordance with clause 43.78.7. 41.2 7.2 The Tenant shall pay the first instalment of the Rent and any VAT due on it to the Landlord on the Rent Commencement Date, and the first instalment is to be a proportionate amount for the period from and including the Rent Commencement Date, until the next quarter day. 41.3 7.3 The Tenant shall pay the Initial Service Charge from the date of this Lease until (but excluding) the Service Charge Commencement Date. The first instalment of the Initial Service Charge Estimate and any VAT due on it shall be paid to the Landlord on the date of this deed, Lease and the first instalment is to shall be a proportionate amount for the period from and including the date of this Lease until the next quarter day. 41.4 If this Lease is not determined in accordance with clause 21 then: 41.4.1 the Tenant shall be granted an additional rent free period for a period of ten months from and including the Termination Date, during which time the Rent shall be a peppercorn (if demanded); and 41.4.2 immediately following the end of such additional rent free period, the 7.4 The Tenant shall pay the Service Charge Estimate from (and including) the Service Charge Commencement Date for the remainder of the Term. The first instalment of the Service Charge Estimate and any VAT due on it shall be paid to the Landlord on demand the Service Charge Commencement Date and shall be a proportionate amount of the Rent for the period from and including the expiry of such additional rent free period to and including the day prior to Service Charge Commencement Date until the next following usual quarter dayday (credit being given for any Initial Service Charge paid in respect of the period after the Service Charge Commencement Date). 41.5 7.5 The Tenant shall pay the Road Cost within 10 Business Days of written demand. 7.6 If required by the Landlord, the Tenant shall pay the Rent and Rent, the Initial Service Charge, the Service Charge Estimate and any VAT on them by banker’s 's standing order to a bank account in the United Kingdom which the Landlord has notified in writing to the Tenant.