Rent and Taxes. 4.1 The Parties acknowledge and agree that rent of Ringgit One (RM1.00) per month is due and payable by Tenant to Landlord in advance for the rental of the Premises pursuant to this Tenancy Agreement. The Parties further acknowledge and agree that the rent for the Tenancy Term has been paid by Tenant to Landlord simultaneously with the execution of this Tenancy Agreement.
4.2 Within thirty (30) days following Tenant’s receipt of evidence of Landlord’s payment of the following assessments (together with a copy of the original governmental invoice and Landlord’s calculation of Tenant’s share pursuant hereto), Tenant shall reimburse Landlord for its proportionate share of the following assessments:
(a) Quit Rent — assessed annually by the Penang Land Office on land, Tenant’s share shall be based on the relative square footage of the Premises Land to the square footage of the Land being assessed, which as of the date hereof is US$71,000 in the aggregate per annum for the Land; and
(b) Local Assessment — assessed semi-annually by the Penang Municipal Council on buildings, Tenant’s share shall be the portion of the Local Assessment related to the buildings on the Premises Land based on the value ascertained by the Penang Municipal Council, which as of the date hereof is US$175,000 in the aggregate per annum for the Land.
Rent and Taxes. In addition to the provisions of Section 15, all Rent due Landlord herein is exclusive of any sales, business and occupational gross receipts or tax based on rents or tax upon this Lease or tax measured by the number of employees of Tenant or the area of the Premises or any similar tax or charge. If any such tax or charge be hereafter enacted, Tenant shall reimburse to Landlord the amount thereof with each monthly Base Rent payment. If it shall not be lawful for Tenant to so reimburse Landlord, the monthly Base Rent payable to Landlord under this Lease shall be revised to net Landlord the same net rental after imposition of any such tax or charge upon Landlord as would have been payable to Landlord prior to the imposition of such tax or charge. Tenant shall not be liable to reimburse Landlord any federal income tax or other income tax of a general nature applicable to Landlord’s income or which is otherwise expressly carved out of Tenant’s tax obligations set forth in Section 4(B)(v).
Rent and Taxes. In addition to the provisions of Section 15, all rent due Landlord herein is exclusive of any sales or tax based on rents or tax upon this Lease or tax measured by the number of employees of Tenant or the area of the Premises or any similar tax or charge. If any such tax or charge be hereafter enacted, Tenant shall reimburse to Landlord the amount thereof with each monthly Base Rent payment. If it shall not be lawful for Tenant to so reimburse Landlord, the monthly Base Rent payable to Landlord under this Lease shall be revised to net Landlord the same net rental after imposition of any such tax or charge upon Landlord as would have been payable to Landlord prior to the imposition of such tax or charge. Tenant shall not be liable to reimburse Landlord any federal income tax or other income tax of a general nature applicable to Landlord’s income.
Rent and Taxes. Upon proof that Tenant, Mississippi Aquarium, is a “not-for-profit” corporation according to the laws of the State of Mississippi, and that it has applied for “tax exempt status” by the Internal Revenue Service, the City of Gulfport shall waive any and all rent during the term of this Lease in exchange of the consideration herein. In the event that tenant is denied or loses its tax exempt status, the parties shall, pursuant to and in accordance with Mississippi law, either renegotiate and amend the Lease to require payment of fair market value rent from the date of commencement of this Lease Agreement in the case of a denial or from the date of loss of tax exempt status as established by the Internal Revenue Service in the event of loss of tax exempt status, or at either’s party’s option, terminate the Lease. Should this Lease Agreement result in any taxes, including ad valorem taxes, being assessed to Tenant on its leasehold interest in the Leased Premises or in any way assessed against the City by any appropriate and duly authorized taxing authority, Tenant shall be solely responsible for the payment of the same.
Rent and Taxes. 2 (a) Rent for Initial and Renewal Terms......................................................... 2 (b)
Rent and Taxes. 3 2.1 Rent ........................................................3 2.2
Rent and Taxes. 3.1 Tenant agrees to pay to the Landlord as rent during the Initial Term of this Lease, the sum of $676,695.30 per year to be paid in monthly installments of $56,391.28 on or before the first day of each month beginning on October 1, 1999.
3.2 Tenant shall pay as additional rent all real estate taxes assessed with respect to the Leased Premises. Tenant shall pay such taxes directly to the applicable taxing authority. Notwithstanding the foregoing, if taxes upon rent shall be substituted in whole or in part for the present general real estate taxes, Tenant shall pay the taxes upon rent, but only to the extent to which they shall be substituted for said real estate taxes and only in such amounts as would be payable by the Landlord if the rent payable hereunder were the only rent subject to such taxes.
3.3 If Tenant fails to make any payment of rent or any other amount due and payable by Tenant to Landlord under this Lease within the Grace Period, then Tenant shall pay interest at the Prime Rate plus four percent (4%) on such amount for each day after the Grace Period that such amount remains unpaid. For the purposes of this Lease, (i) the term "Grace Period" shall mean five (5) days after the date such payment of rent or other amount first becomes due and payable; provided, however, that if Tenant fails to make any such payment of rent or any other amount within such five (5) day period at any time during a calendar year, then the Grace Period shall be reduced to two (2) days for the remainder of such calendar year, and (ii) the term "Prime Rate" shall mean the "prime rate" as published in the Wall Street Journal, or if no longer published in the Wall Street Journal, the prime rate of interest for the then largest commercial bank by capitalization in the State of New Jersey.
Rent and Taxes. 1. Lessee shall pay to the Lessor rent in the amount of [2.25% of the land-only property value] for the initial one-year (1) term of this Bridge Lease.
2. The amount of rent for the first, one-year (1) extension hereof, if offered, shall be [3% of the land-only property value], and the amount of rent for the second, one-year (1) extension hereof, if offered, shall be [3.75% of the land-only property value]. The amount of rent for any subsequent Terms, if offered, shall be increased at the sole discretion of the Conomo Point Commissioners. [NOTE: in the aggregate, lease revenue for the entire Point amounts to $622,740 in year one, $829,920 in year two, and $1,037,430 in year three]
3. Lessee covenants and agrees to pay Lessor, without notice or demand therefore, said rent in four (4) equal installments. Each installment must be received by Clerk of the Conomo Point Commissioners by the following dates of each Term year: March 1, June 1, September 1 and December 1. If Lessee fails to make its rent payment when due, Lessee agrees to pay interest at a rate of two (2) percent per month assessed against the amount of the rent.
4. If the Lessee is sixty-five (65) years of age or older, is not a dependent of another, and occupies the Premises as his/her principal residence, on a year-round basis, the Lessee may be entitled to a reduction in rent equal to the amount by which the rent exceeds ten percent of the Lessee’s total income, but the reduction shall not exceed seven hundred fifty dollars ($750). Said rent reduction shall only be available if all persons identified as Lessee in Article I of this Bridge Lease meet all the criteria set forth in Massachusetts General Laws, Chapter 62, Section 6(k). Lessee may apply for such reduction, by making a writing request to the Conomo Point Commissioners, at least thirty days before the due date of the first rent installment. Said written request shall include a certification under the pains and penalties of perjury and documentation showing that all of the requirements of the aforementioned statute have been met. Said reduction shall be extinguished and the full amount of rent will be restored if the authorized Lessee ceases occupancy of the Premises as his/her principal residence and this provision is non-transferrable in the event of assignment or subletting. [THIS SECTION NOT IN SEASONAL-ONLY LEASE]
5. Lessor and Lessee acknowledge and agree that this is an absolute triple net lease, and Lessee shall have the sole re...
Rent and Taxes. 4.1 Party B shall pay rent to Party A on an annual basis at the rate of RMB1,049(in word: One Thousand and Forty-Nine Renminbi Yuan)/square meter per year.
4.2 The parties hereto agree that the rate of rent may be adjusted appropriately at an interval of approximately three years in response to the actual operational status of Party B and changes in market price; provided, however, that the rate of rent so adjusted may not exceed the comparable fair market price.
4.3 Party A shall, during the Term, be obligated to complete the formalities for the payment of property tax and other statutory taxes and fees relating to the Buildings. The aforesaid taxes and fees shall be actually borne by Party B; provided, however, that subject to relevant tax laws and regulations, Party B may pay such taxes and fees by itself or through Party A as its agent.
4.4 During the Term, Party B shall be responsible for the charges of water, electricity, heating, and repairs and other relevant expenses incurred in the use of the Buildings, which shall be in addition to rent.
Rent and Taxes. Tenant's monthly charge for rent and taxes shall be $6,765.00 payable, in advance, on or before the first day of each month and every month during the Term of this Lease.
