Common use of Rent; Net Lease Clause in Contracts

Rent; Net Lease. (a) Tenant covenants and agrees to pay to Landlord at its address as set forth in the preamble to this Lease or at such other place as Landlord shall from time to time designate in writing, during the Lease Term, the Base Rent, without holdback or set-off, in advance, commencing on the Rent Commencement Date and continuing thereafter on the first day of each calendar month during the Lease Term. All other items of Rent shall be paid, without holdback or set-off, in accordance with the terms of this Lease. If any payment of Rent is received by Landlord more than five (5) days after the date when such payment is due, a late charge of five percent (5%) of the past due payment shall be assessed, due and payable immediately and without notice. (b) Landlord and Tenant acknowledge and agree that this Lease is intended to constitute, and shall constitute, an absolutely ‘net” Lease such that the Rent shall provide Landlord with a “net” return for the Term, free of all expenses and charges with respect to the Leased Premises, all of which shall be Tenant’s responsibility. Accordingly, Tenant shall pay as additional Rent and discharge, at the times specified herein, or if no time is specified, before failure to pay the same shall give rise to any interest or penalty or create any risk of lien or forfeiture, each and every item of expense, of every kind and nature whatsoever, foreseen or unforeseen, ordinary or extraordinary, related to or arising from the Leased Premises, or by reason of, or in any manner connected with or arising from, the development, leasing, operation, management, maintenance, repair, replacement, use, and/or occupancy of the Leased Premises.

Rent; Net Lease. (a) Section 3.01. Commencing on the Rent Commencement Date, Tenant covenants and agrees to shall pay to Landlord annual fixed rent (the “Base Rent”), at its address as set forth in the preamble to this Lease Landlord’s offices first listed above or at such other place as Landlord shall may designate from time to time designate in writing, during the Lease Term, the Base Rent, without holdback or set-offtime, in advancecash, commencing or by check of Tenant drawn on a bank or trust company in the Rent Commencement Date and continuing thereafter United States, in advance on the first day of each calendar month during the Term, without counterclaim, set-off or deduction whatsoever (except as otherwise specifically set forth to the contrary in this Lease). Base Rent is due each day of the Term of the Lease commencing on the Rent Commencement Date, but Landlord and Tenant agree that for convenience, Base Rent shall be payable in equal monthly installments, in advance, on the first day of each month during the Term. In addition, Tenant shall pay to Landlord during the Term, at the place and in the manner set forth above, “Additional Rent” (as defined herein) as and when billed by Landlord therefor. Section 3.02. During the Term hereof Base Rent reserved under this Lease shall be and consist of: ​ Section 3.03. All other sums of money as shall become due and payable by Tenant under this Lease (hereinafter, “Additional Rent”), including, without limitation, those items specified in Articles VII, XV and XVIII of Rent this Lease, all of which sums shall be paidpayable as hereinafter provided, without holdback or set-offall to be paid to Landlord, in accordance with as specified on the terms first page of this Lease. If ​ Section 0.00. Xx the event any installment of Base Rent or Additional Rent required pursuant to the provisions of this Lease to be paid by Xxxxxx is not paid when due, and such payment remains unpaid following ten (10) days notice from Landlord to Tenant, such installment shall bear interest at the rate of ten (10%) percent per annum from the date said installment was due and payable, said interest to be deemed Additional Rent. Section 0.00. Xx order to cover the extra expense involved in handling delinquent payments, Tenant, at Landlord’s option, shall pay a “late charge” of two (2%) percent of any payment of Base or Additional Rent paid more than ten (10) days after notice that same has not been timely paid on the due date thereof, provided, however, that Landlord shall not be required to give Tenant any such notice after the first occurrence of a late payment of Base Rent in any given twelve (12) month period. It is received understood and agreed that this charge is for additional expenses incurred by Xxxxxxxx and shall not be considered interest. Said late charge is to be deemed Additional Rent. Section 3.06. Tenant shall pay upon demand by Landlord more any reasonable attorney’s fees incurred by Landlord in connection with the imposition, collection or payment of any Base Rent, Additional Rent and/or said interest not paid within the applicable notice and cure periods, said attorney’s fees to be deemed Additional Rent. In addition, if Tenant’s check for the payment of Base Rent, Additional Rent or any other sum due Landlord hereunder is returned by Tenant’s bank because of insufficient funds or otherwise, Tenant shall, in addition to immediately providing Landlord with a sufficiently funded replacement check, reimburse Landlord an amount equal to the greater of (i) One Hundred Dollars ($100.00) or (ii) the actual, out-of-pocket costs incurred by Landlord as a result of such insufficient funds. Such reimbursement shall be deemed Additional Rent. The Base Rent and Additional Rent are herein collectively referred to as the “Rent” and shall constitute “Rent” within the meaning of California Civil Code Section 1951(a). Section 3.07. Upon execution of this Lease by Xxxxxx, Tenant shall (a) pay the first monthly installment of Base Rent of Three Hundred Five Thousand Seven Hundred Seventy-Four Dollars $305,774.00 and (b) as per Section 26.01, pay to Landlord the Security set forth therein. If the Rent Commencement Date is other than the first day of a calendar month, the portion of such payment attributable to the portion of such calendar month prior to the Rent Commencement Date shall be credited against the payments of Base Rent and Additional Rent first occurring thereafter. Section 3.08. Tenant shall have the right to extend the Term for two (2) five (5) days year periods (each, an “Extension Period”). Each Extension Period shall commence immediately upon the expiration of the Term or the Term as previously extended by an Extension Period. The foregoing right shall be of no force or effect with respect to the subsequent Extension Period unless Tenant shall have duly exercised its right to extend the Term for all prior Extension Periods. Each extension of the Term shall be on all of the terms, covenants and conditions of this Lease except that the Base Rent during each Extension Period shall be as set forth below (`the “Extension Period Base Rent”). Tenant shall have no further right to extend or renew the Term after the date when such payment is due, a late charge of five percent (5%) expiration of the past due payment second Extension Period. To exercise its right to extend the Term, Tenant must so advise Landlord by notice given at least twelve (12) months prior to the last day of the Term as it theretofore may have been extended. ​ Section 3.09. During each Extension Period the Extension Period Base Rent reserved under this Lease shall be assessed, due and payable immediately and without notice.as follows First Extension Period: ​ Second Extension Period: ​ (b) Landlord and Tenant acknowledge and agree that Section 3.10. Except as otherwise expressly set forth in this Lease is intended to constitutethe contrary, and this Lease shall constitute, be an absolutely ‘net” Lease such that the Rent shall provide Landlord with a “net” return for the Termabsolute net lease, free of all expenses and charges to Landlord in connection with respect to the Leased Premises, all of which shall be Tenant’s responsibility. Accordingly, Tenant shall pay as additional Rent and discharge, at the times specified herein, or if no time is specified, before failure to pay the same shall give rise to any interest or penalty or create any risk of lien or forfeiture, each and every item of expense, of every kind and nature whatsoever, foreseen or unforeseen, ordinary or extraordinary, related to or arising from the Leased Premises, or by reason of, or in any manner connected with or arising from, the development, leasing, operation, management, maintenance, repair, replacement, use, and/or use or occupancy of the Leased Demised Premises, so that this Lease shall yield all rent payable under this Lease as an absolutely net return to Landlord. Accordingly, Tenant shall pay all taxes, assessments, insurance premiums, utility costs and other expenses of the Demised Premises, regardless of to whomsoever payable.

Rent; Net Lease. (a) During the term of this Lease, Tenant covenants and agrees to shall pay to Landlord at its address rental of $41,250.00 per month (“Base Rent”), allocable to the various portions of the Premises as set forth in the preamble to this Lease or at such other place as Landlord shall from time to time designate Exhibit C payable in writing, during the Lease Term, the Base Rent, without holdback or set-off, in advance, commencing advance due on the Rent Commencement Date and continuing thereafter on the first 1st day of each calendar month during (the Lease Term. All other items “Rent Payment Date”), except that the first installment of Rent shall $41,250.00, will be paid, without holdback or set-off, in accordance with due and payable upon the terms execution of this Lease. If any payment During the renewal terms of Rent is received by Landlord more than five (5) days after the date when such payment is due, a late charge of five percent (5%) of the past due payment shall be assessed, due and payable immediately and without notice. (b) Landlord and Tenant acknowledge and agree that this Lease is intended to constitute, and shall constitute, an absolutely ‘net” Lease such that the Rent shall provide Landlord with a “net” return for the Term, free of all expenses and charges with respect to the Leased Premises, all of which shall be Tenant’s responsibility. AccordinglyOffice and Lot B, Tenant shall pay to Landlord Base Rent of $23,333.33 per month. Rent checks shall be made payable Landlord and mailed to Kaman Corporation, X.X. Xxx 0, Xxxxxxxxxx, Xxxxxxxxxxx 00000, or to such other address as additional Rent and dischargeLandlord shall notify Tenant of in writing at 00 Xxx Xxxxxxx Xxxx, at the times specified Xxxxxxxxxx, Xxxxxxxxxxx 00000. Except as otherwise set forth herein, this Lease is a net lease and it is agreed and intended that all rent and any other amounts payable hereunder by Tenant shall be paid without notice or if no time is specifieddemand, before failure absolutely net to Landlord and without counterclaim, setoff, deduction or defense, recoupment, abatement, diminution, reduction or suspension whatsoever and that Tenant’s obligation to pay all such amounts throughout the same term of the Lease is absolute and unconditional so that this Lease shall give rise yield net to any interest Landlord under all circumstances and conditions whether now or penalty hereinafter existing and whether or create any risk not within the contemplation of lien the parties. Tenant shall pay or forfeiture, each and every item of expense, of every kind and nature whatsoever, foreseen or unforeseen, ordinary or extraordinary, cause to be paid all expenses related to or arising from the Leased Premises, or by reason of, or in any manner connected with or arising from, the development, leasing, operation, management, maintenance, repair, replacementdevelopment, use, and/or occupancy occupancy, maintenance and repair of the Leased Premises, including, without limitation, the costs of utilities and real estate taxes, which arise or become due or payable during or after (but only to the extent attributable to a period falling within) the term of the Lease. Tenant shall indemnify Landlord against, and hold Landlord harmless from, such expenses, and Tenant’s liability for the payment of any of the same which shall become payable after the term of the Lease shall survive the term of the Lease. Notwithstanding anything to the contrary contained herein, Landlord and not Tenant shall be liable and obligated for the repair and maintenance or replacement of the structural components of the Premises, the roof and for all items that are considered “capital” in nature as determined in accordance with generally accepted accounting principles; provided, that Landlord shall not be obligated for the repair, maintenance or replacement of any such "capital" items that are installed or replaced at the Premises by Tenant, its agents or its employees.