Rent. Sublessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
Appears in 3 contracts
Samples: Real Estate Matters Agreement, Real Estate Matters Agreement (Keysight Technologies, Inc.), Real Estate Matters Agreement (Agilent Technologies Inc)
Rent. Sublessee shall pay Sublessor as (a) The rent reserved under this Lease for the Premises Term hereof shall be and consist of (a) the Fixed Rent payable in equal monthly installments in advance, on the first day of each and every calendar month during the Term (subject to Paragraphs (e) and (f) of this Paragraph 2); plus (b) such additional rent (“Base Additional Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with in an amount equal to SublesseeTenant’s pro rata share Proportionate Share of Expenses (based as such terms are defined in Paragraph 3 of this Lease) as may be payable pursuant to the terms of this Lease and all charges for services and utilities pursuant to Paragraph 15 hereof, and any other charges as shall become due and payable hereunder, which Additional Rent shall be payable as hereinafter provided, all to be paid to Landlord at its office stated above, or such other place as Landlord may designate, in lawful money of the United States of America; provided, however, that if the Rent Commencement Date shall occur on a date other than the first calendar day of a month, the rent for the partial month commencing on the ratio of square footage Rent Commencement Date shall be appropriately pro-rated on the basis of the Premises (excluding monthly rent payable during the Shared Areas) to the square footage first year of the Master Premises Term.
(excluding b) Tenant does hereby covenant and agree promptly to pay the Shared Areas)Fixed Rent, of Additional Rent and any other charges herein reserved as and when the rent same shall become due and payable, without demand therefor, and without any set-off or deduction whatsoever. All Additional Rent and other charges payable under hereunder, which are not due and payable on a monthly basis during the Master Lease with respect to the Shared Areas. Such amounts Term, unless otherwise specified herein, shall be due and payable within thirty fifteen (3015) days of delivery by Landlord to Tenant of an invoice therefornotice to pay the same.
(c) In the event that any payment of Fixed Rent, without deduction Additional Rent or offset and without prior notice or demandany other charges shall be paid after the due date for same provided herein, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee Tenant shall pay, together with such payment, the Late Charge and interest at 12% per annum for such unpaid amount for the period thereafter that such payment shall remain unpaid.
(d) Tenant may pay the Fixed Rent, Additional Rent and any other charges herein reserved by wire transfer of immediately available federal funds as and when due under the Master Lease, directed by Landlord or by check (asubject to collection) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease drawn on a New York Clearinghouse Association member bank.
(it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding e) Notwithstanding anything to the contrary contained in this SubleaseXxxxxxxxx 0, Xxxxxx shall not be obligated to pay to Landlord the monthly Fixed Rent from the Commencement Date until the earlier of (i) the date that the Demised Premises are substantially completed and a certificate (temporary or final) of occupancy has been issued by appropriate governmental authority permitting occupancy of the Demised Premises, or (ii) March 1, 2001 (the “Rent Commencement Date”).
(f) Notwithstanding anything to the contrary contained in this Xxxxxxxxx 0, Xxxxxx shall not be obligated to pay to Landlord the portion of monthly Fixed Rent attributable to 22,417 rentable square feet of the Demised Premises, being Fifty-six Thousand Forty-two and 50/100 Dollars ($56,042.50) per month, for the third (3rd), fourth (4th), eighth (8th) and ninth (b9th) all costs directly incurred by or at months after the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentCommencement Date.
Appears in 3 contracts
Samples: Lease Agreement (Reliant Pharmaceuticals, Inc.), Lease Agreement (Reliant Pharmaceuticals, Inc.), Lease Agreement (Reliant Pharmaceuticals, Inc.)
Rent. Sublessee Lessee shall pay Sublessor as Lessors rent for the Premises use of the Equipment pursuant to the terms of this Paragraph 3 (“Base Rent”) its pro rata share (based on ). Rent shall accrue during the ratio Initial Term, and Lessee shall pay Lessors Rent attributable to the Initial Term at the expiration of the square footage Term (in connection with Lessee’s payment under its purchase obligation pursuant to Paragraph 7 below), subject to Lessee’s right to pay Rent currently as it accrues. Lessee shall pay Rent to Lessors on a quarterly basis during each of the Premises First Renewal Term, the Second Renewal Term and the Third Renewal Term, in each case if Lessee exercises the applicable renewal option. Rent during the Initial Term shall be equal to the square footage an annual rate of the Master Premises twelve percent (its “Pro Rata Share”)12%) of the rent Purchase Price (as defined in the Sale and Leaseback Agreement, taking into account the dates on which each installment of the Purchase Price is actually paid to Lessee), compounded quarterly. The Rent during the First Renewal Term shall be equal to an annual rate of thirteen percent (13%) of the Purchase Price (compounded quarterly if Lessee fails to pay Rent currently as required by this Paragraph 3). Rent during the Second Renewal Term shall be equal to an annual rate of fourteen percent (14%) of the Purchase Price (compounded quarterly if Lessee fails to pay Rent currently as required by this Paragraph 3). Rent during the Third Renewal Term shall be equal to an annual rate of fifteen percent (15%) of the Purchase Price (compounded quarterly if Lessee fails to pay Rent currently as required by this Paragraph 3). If any Rent or other amount payable under by Lessee is not paid within five days after the Master Leaseday on which it becomes payable, together with Lessee will pay on demand, as a late charge, an amount equal to Sublessee’s pro rata share (based on the ratio 5% of square footage of the Premises (excluding the Shared Areas) such unpaid Rent or other amount but only to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areasextent permitted by applicable law. Such amounts All payments provided for herein shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, to Lessors at the address indicated specified in Paragraph 23 below, or at any other place designated by Sublessor Lessors. For purposes of calculating the amount of Rent that accrues during any period, the Purchase Price shall be reduced by 100/105ths of any amounts treated as a reduction of Exercise Price in writing from time to time. Such Base Rent shall increase from time to time based on increases in accordance with the base rent under the Master Lease. In addition, Sublessee shall paylast sentence of Paragraph 7 below, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation date such amounts are paid to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentLessors.
Appears in 3 contracts
Samples: Lease Agreement (PLM Equipment Growth Fund V), Lease Agreement (PLM Equipment Growth Fund Vi), Lease Agreement (PLM Equipment Growth & Income Fund Vii)
Rent. Sublessee shall pay Sublessor to the order of Sublessor, as rent for the Premises (“Base Rent”) its pro rata share (based Equipment, a semiannual Rental Payment equal to the amount payable by Sublessor under the Lease, on the ratio dates and in the amounts as set forth in Exhibit D attached hereto (such payment due dates are referred to herein as "Sublease Payment Dates"). Sublessor hereby directs Sublessee to make all Payments otherwise payable by Sublessor to Lessor under the Lease directly to Lessor, or to the assignee of Lessor, if any, at the address set forth in the records maintained pursuant to Section 19 of the square footage of the Premises Lease. Rental Payments due to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Lessor from Sublessee shall be due and payable within thirty on each Sublease Payment Date, which date shall be fifteen (3015) days of delivery by Landlord of an invoice thereforprior to the corresponding Master Lease Payment Date, without deduction or offset and without prior notice or demand, in immediately available funds at the address indicated specified by Sublessor Lessor. Sublessee's periodic obligation for Rental Payments as set forth in writing from time to time. Such Base Rent shall increase Exhibit D attached hereto may be amended from time to time based on increases as provided in the base rent under the Master Lease. In addition, to the extent permitted by law, Sublessee shall paypay when due to Sublessor or to Lessor, as the case may be, such other amounts from time to time as are due and owing by Sublessor or Sublessee under the Lease or this Sublease, including, without limitation, those amounts payable under Sections 8 and 9 hereof and any late charges due and owing under the Lease or this Sublease (the "Additional Payments"). The term "Payments", as used herein, shall refer to Rental Payments and Additional Payments. Sublessee's obligations to make Payments may become accelerated under certain circumstances described herein and under other circumstances described in the Lease. SUBLESSEE'S OBLIGATIONS TO MAKE PAYMENTS WILL BE ABSOLUTE AND UNCONDITIONAL IN ALL EVENTS AND WILL NOT BE SUBJECT TO ANY SET-OFF, DEFENSE, COUNTERCLAIM, ABATEMENT OR RECOUPMENT FOR ANY REASON WHATSOEVER. Sublessee hereby covenants to make all Payments hereunder during the entire Lease Term. The officials of Sublessee responsible for preparing and presenting to Sublessee's governing body Sublessee's budget request for each fiscal year shall include in each such budget request for each fiscal year during the Lease Term the Payments to become due in such fiscal year, thereby securing the appropriation of moneys for such fiscal year sufficient to pay the Payments coming due therein. Upon adoption of Sublessee's temporary budget and final budget, Sublessee shall immediately notify Lessor and Sublessor if such budgets do not contain sufficient appropriation to pay the Payments coming due in the fiscal year covered by such budgets. Sublessee hereby agrees that, notwithstanding the possibility that either of such budgets may not contain an appropriation for such amount of Payments, Sublessee's obligations to make Payments hereunder when due under the Master Leaseare absolute and unconditional. Sublessee further covenants that, (a) its Pro Rata Share if such appropriation is not in any such budget, Sublessee will immediately take whatever measures are necessary to ensure that timely payment of all operating expensesPayments will be made when due hereunder, taxesand Sublessee will notify Lessor and Sublessor of same[, insurance and other costs payable under which measures include, without limitation, the Master Leaselevy of ad valorem taxes upon all the taxable property within Sublessee, but specifically excluding any fees, costs, charges without limitation as to rate or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior amount [include for municipal Sublessees only]].[ Payments shall be subject to the expiration annual appropriation of funds sufficient to meet the then-scheduled term required Payments [include for school district Sublessees only]]. On or before the first day of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request each fiscal year of Sublessee during the Lease Term, Sublessee will provide Lessor with respect to its use of the Premises. All amounts required to be paid by Sublessee under an Appropriation Certificate for this Sublease other than Base Rent shall in the form attached hereto as Exhibit G. Sublessee reasonably believes that legally available funds in an amount sufficient to make all Payments during the Lease Term of this Sublease and the Lease can be deemed additional rentobtained. Sublessee currently intends to do all things lawfully within its power to obtain and maintain funds from which the Payments may be made. Sublessee hereby acknowledges its obligations to make payments under all the various circumstances described above.
Appears in 3 contracts
Samples: Sublease Purchase Agreement, Sublease Purchase Agreement, Sublease Purchase Agreement
Rent. Sublessee shall pay Sublessor Rents, revenue and other income from the Property actually collected as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease Closing with respect to the Shared Areas. Such amounts Leases shall be due prorated through Escrow as of 12:01 a.m. on the Closing Date with Seller entitled to the prorated portion of such items attributable to the period prior to such date and payable within thirty (30) days time and Buyer entitled to the prorated portion of delivery by Landlord such items as of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to following such date and time. Such Base Rent Any prepaid rent paid by the Tenants pursuant to the Leases shall increase from time be credited to time based on increases in the base Buyer. If any rent or other payments under the Master Lease. In additionLeases are in arrears as of the Closing Date, Sublessee Buyer shall pay, as and when due under use reasonable efforts following the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges Closing to collect such rent or other consideration payments provided that in no event shall Buyer be obligated to commence litigation or expend funds to effect collection. Nothing in this Section 10.1.1 shall restrict Seller's right to collect delinquent rents directly from a Tenant by any legal means; provided, however, that Seller shall have no right to terminate a Lease or disturb a Tenant's possession. Delinquent rent collected by Seller from a Tenant subsequent to the Closing shall be promptly paid or payable by Sublessor to Master Lessor Buyer to the extent that Buyer is entitled to such rent in connection with Sublessor’s exercise the period on and after the Closing Date, and delinquent rent collected by Buyer from a Tenant subsequent to the Closing Date shall be promptly paid to Seller to the extent that Seller is entitled to such rent pursuant to the provisions of any termination right or option that Sublessor may have under this Agreement relating to the Master Lease to terminate the Master Lease period prior to the expiration of Closing Date. Seller and Buyer agree that all rent from Tenants received by Seller or Buyer following Closing shall be applied first to current rent, then to delinquent rent, if any, for any period following the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or optionClosing, and that Sublessor reserves the right then to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything delinquent rent, if any, for periods prior to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentClosing.
Appears in 3 contracts
Samples: Option Agreement (Macromedia Inc), Option Agreement (Macromedia Inc), Option Agreement (Macromedia Inc)
Rent. Sublessee Subtenant shall pay Sublessor as base rent commencing on January 1, 2008 ("Rent Commencement"). Subtenant shall pay monthly base rent as follows: January 1, 2008 – November 30, 2008: $ [***] December 1, 2008 – October 31, 2009: $ [***] Notwithstanding the foregoing, Subtenant shall also be responsible for the Premises (“Base Rent”) its pro rata share (based on the ratio cost of the square footage of the Premises electricity provided to the square footage Sublease Premises. In the event that the term of this Sublease shall begin or end on a date that is not the Master Premises first day of a month, base rent shall be prorated as of such date. Concurrent with Subtenant's execution of this Sublease, Subtenant shall deliver to Sublandlord the first full month's base rent in the amount of $[***] and a security deposit in the amount of $[***] (its “Pro Rata Share”the "Security Deposit")) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease . If Subtenant defaults with respect to any covenant or condition of the Shared AreasSublease, including but not limited to the payment of base rent or any other payment due under this Sublease or the Lease, Sublandlord may apply all or any part of the Security Deposit to the payment of any sum in default or any other sum that may be required or deemed necessary by Sublandlord to spend or incur by reason of Subtenant's default. Such amounts In such event Subtenant shall, upon demand, deposit with Sublandlord the [***] Confidential portions of this document have been redacted and filed separately with the Commission. amount necessary to replenish the Security Deposit. If Subtenant shall have fully complied with all of the covenants and conditions of this Sublease, the Security Deposit shall be due and payable repaid to Subtenant within thirty (30) days after the expiration or sooner termination of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at this Sublease. Sublandlord shall not be required to keep the address indicated by Sublessor Security Deposit in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Leasea separate account, but specifically excluding may commingle the Security Deposit with other funds of Sublandlord. Subtenant shall not be entitled to receive any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under interest on the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentSecurity Deposit.
Appears in 3 contracts
Samples: Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc)
Rent. Sublessee Tenant shall pay Sublessor Landlord as rent for the Premises (“Base Rent”) its pro rata share (based on for each month during the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master LeaseTerm, together with without setoff or deduction, an amount equal to Sublesseethe monthly Occupancy Cost of the Premises, including use of the Shared Areas. As used herein, “Occupancy Cost” shall mean (i) the “triple net” rental value of the Premises, which the parties have agreed is ( ) per month (the “Rental Component”) and (ii) Tenant’s pro rata share (based as set forth in Exhibit B attached hereto and referred to herein as “Tenant’s Pro Rata Share”) of Landlord’s operating expenses for the Project, which operating expenses are more particularly described on Exhibit B attached hereto and made a part hereof (the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas“Non-Rental Component”), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Tenant’s Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration utility expense portion of the thenNon-scheduled term Rental Component (referred to herein as the “Utility Charges”) will be billed to Tenant separately from all of the Master Lease other operating expenses comprising the Non-Rental Component (it being understood that Sublessee shall have no obligation all such other operating expenses are referred to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves herein as the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease“Operating Expense Charges”), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee Tenant under this Sublease Lease other than Base the Occupancy Cost shall be deemed Additional Rent (which, collectively with the Occupancy Cost, shall be deemed “Rent”). Rent shall be deemed additional rentmade payable to the entity, and sent to the address, Landlord designates in writing to Tenant and shall be made by good and sufficient check or by other means acceptable to Landlord.
Appears in 3 contracts
Samples: Real Estate Matters Agreement, Real Estate Matters Agreement (Keysight Technologies, Inc.), Real Estate Matters Agreement (Agilent Technologies Inc)
Rent. Sublessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share Tenant covenants and agrees to pay to Landlord, as rental for the Premises, Annual Basic Rental in the sum set forth in the Fundamental Lease Provisions, payable in advance in equal monthly installments on the first day of all operating expenseseach full calendar month during the term, taxesthe first such payment to include rent, insurance and other costs payable under prorated on a daily basis, for the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise period (if any) from the date of any termination right or option that Sublessor may have under commencement of the Master Lease to terminate the Master Lease prior term to the expiration first day of the then-scheduled term of first full calendar month in the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and term.
(b) all costs directly incurred Any sum, amount, item or charge payable by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Tenant hereunder shall be deemed additional rent, and except as otherwise specifically provided herein, shall be paid by Tenant to Landlord on the first day of the month following the date on which Landlord notifies Tenant of the amount payable or on the tenth day after the giving of such notice, whichever shall be later. Any such notice shall specify in reasonable detail the basis of such additional rent.
(c) All rentals payable by Tenant to Landlord under this Lease shall be paid to Landlord at the office of Landlord herein designated or to such other address and/or person or company as Landlord may designate from time to time by notice to Tenant. Tenant will promptly pay all rentals herein prescribed when and as the same shall become due and payable. If Landlord shall pay any monies or incur any expenses in correction of violations of covenants herein set forth, the amount so paid or incurred shall, at Landlord's option, and on notice to Tenant, be considered additional rentals, payable by Tenant with the first installment of rent thereafter becoming due and payable, and may be collected or enforced as by law provided in respect of rentals.
Appears in 2 contracts
Samples: Lease Agreement (United Bancshares Inc /Pa), Lease Agreement (United Bancshares Inc /Pa)
Rent. Sublessee Xxxxxx agrees to pay to Landlord Greater Of Rent, Parking Improvement Rent, Premises Surface Parking Rent, Surface Parking Improvements Rent, and Additional Rent (collectively "Rent") in accordance with this Article 5 and Exhibit “R”, Exhibit “R-3”, or Exhibit “R-4”, as applicable. All payments of Rent and other sums due to Landlord hereunder shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio be paid in legal tender of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master LeaseUnited States, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)without notice, of the rent payable under the Master Lease with respect to the Shared Areasinvoice, setoff, deduction or demand, except as otherwise expressly provided herein. Such amounts shall be due and payable within thirty (30) days of delivery No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the Rent shall be deemed to be a waiver of any current or preceding breach by Tenant of any provision hereof. No endorsement or statement on any check or any letter accompanying any check or payment as Rent shall be deemed an invoice thereforaccord and satisfaction, and Landlord has the right to accept such check or payment without deduction prejudice to Landlord's right to recover the balance of such Rent or offset and without prior notice or demandpursue any other remedy in accordance with this Lease, at law or in equity. Tenant waives all rights that it may have under present or future law to designate the address indicated items of Rent to which any payments made by Sublessor in writing Tenant are to be credited. Xxxxxx agrees that Landlord may apply any payments made by Tenant to such items of Rent as Landlord designates, irrespective of any designation or request by Xxxxxx as to the items of Rent to which such payments should be credited. All payments of Rent shall be delivered to and statements required under Section 5.4.3 below and Exhibit “R”, Exhibit “R-3”, or Exhibit “R-4”, as applicable, shall be filed with Landlord's Treasurer. Payments of Rent shall be made by check, electronic wire transfer or automated clearing house ("ACH") transfer. Checks shall be made payable to the San Diego Unified Port District and mailed to the San Diego Unified Port District, Finance Department, Post Office Box 120488, San Diego, California 92112-0488, or delivered to the San Diego Unified Port District, Finance Department, 0000 Xxxxxxx Xxxxxxx, Xxx Xxxxx, Xxxxxxxxxx 00000. All payments of Rent by electronic wire transfer or ACH transfer shall be directed to (or such other location as Landlord may instruct by notice from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition): Beneficiary Bank: Xxxxx Fargo Bank, Sublessee shall payN.A. Bank Location: 420 Montgomery, as and when due under the Master LeaseMAC: A0112-102 San Francisco, (aCA 94104 ACH/Wire Routing Number: 000000000 Beneficiary: San Diego Unified Port District Beneficiary Account Number: 4944-983881 Type of Account: Deposit Reference Description of payment Required: Customer number and/or invoice(s) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves numbers Landlord has the right to exercise change the designated place of payment or filing at any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.time upon ten
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Rent. Sublessee shall covenants and agrees to pay Sublessor as a fixed annual rent for the Premises (“Base Rent”) its pro rata share in the initial amount of Thirty Two Dollars and Thirty Five Cents (based on the ratio $32.35) per square foot of the square footage of the Premises to the square footage of the Master Premises Rentable Area (its “Pro Rata Share”)) of the rent payable under as defined in the Master Lease) within the Sublease Premises, together with an amount equal to Sublessee’s pro rata share (based which shall be due and payable in monthly installments on the ratio first day of square footage each and every calendar month during the Term, except the month in which the Commencement Date occurs, in which month Rent shall be due and payable within 15 days of the Premises (excluding the Shared Areas) to the square footage of Commencement Date. The Rent shall increase periodically as provided in the Master Lease such that the Rent for the Sublease Premises (excluding is the Shared Areas), of same per square foot amount as the rent payable under the Master Lease with respect to for the Shared AreasPremises at all times during the Term. Such amounts If this Sublease shall commence on a day other than the first day of a month, or shall expire on a day other than the last day of a month, Rent for such month shall be due prorated based on a ratio the numerator of which shall be the number of days during such month that this Sublease was in effect and the denominator of which shall be the total number of days in such month. Rent and other charges herein reserved or payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, shall be paid to Sublessor at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases set forth in the base rent under notice section below, or at such place as Sublessor may designate, in lawful money of the Master Lease. In addition, Sublessee shall payUnited States of America by wire transfer of funds in accordance with the wiring instructions set forth on Exhibit A attached hereto, as and when the same become due under the Master Leaseand payable, (a) its Pro Rata Share of all operating expenseswithout demand therefor and without any deduction, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges set-off or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premisesabatement whatsoever. All amounts required to be paid by Sublessee sums payable under this Sublease other than Base Rent shall be deemed additional rentshall, from and after ten (10) business days’ notice that such payment is due, bear interest at the lesser of twelve percent (12%) per annum or the maximum non-usurious interest rate from the date due until paid.
Appears in 2 contracts
Samples: Sublease (Liberty Latin America Ltd.), Sublease (Liberty Latin America Ltd.)
Rent. Sublessee In consideration of this Lease, during the Term, Lessee shall pay Sublessor to Lessor the amounts set forth in Exhibit C as annual basic rent for the Premises (“Base Basic Rent”). Lessee shall pay Basic Rent and all other sums payable to Lessor hereunder to Lessor (or, upon Lessor’s request, to any mortgagee(s) its pro rata share or beneficiary(ies) identified by Lessor (based whether one or more, the “Mortgagee”) under any mortgages, deeds of trust or similar security instruments creating a lien on the ratio interest of the square footage of Lessor in the Premises to (whether one or more, the square footage of the Master Premises (its “Pro Rata ShareMortgage”)) of the rent payable under the Master Leaseby wire or ACH transfer, together with an amount equal in immediately available funds, as follows: The PrivateBank and Trust Company Chicago, Illinois ABA#: 071 006 486 Account#: Acct Name: NL Ventures VII, L.P. Attention: Xxxx Xxxxx (000) 000-0000, or at such other address or to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase such other person as Lessor from time to time based on increases may designate. Lessor shall give Lessee not less than fifteen (15) days prior written notice of any change in the base rent under address to which such payments are to be made. If the Master Lease. In additionparty entitled to receive Basic Rent or such party’s address shall change, Sublessee shall payLessee may, until receipt of notice of such change from the party entitled to receive Basic Rent or other sums payable hereunder immediately preceding such change, continue to pay Basic Rent and other sums payable hereunder to the party to which, and in the manner in which, the preceding installment of Basic Rent or other sums payable hereunder, as and when the case may be, was paid. Such Basic Rent shall be paid in equal monthly installments in advance on the first day of each month, except for any Basic Rent due under for the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration rental of the then-scheduled term Premises during the Interim Term which shall be payable in advance on or before the date hereof. Any rental payment made in respect of a period which is less than one month shall be prorated by multiplying the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion then applicable monthly Basic Rent by a fraction the numerator of any which is the number of days in such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee month with respect to which rent is being paid and the denominator of which is the total number of days in such month. Lessee shall perform all its use of the Premises. All amounts required to be paid by Sublessee obligations under this Sublease Lease at its sole cost and expense, and shall pay all Basic Rent, and other than Base Rent shall be deemed additional rentsums payable hereunder when due and payable, without notice or demand.
Appears in 2 contracts
Samples: Lease Agreement (Gordmans Stores, Inc.), Lease Agreement (Gordmans Stores, Inc.)
Rent. Sublessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio In consideration of possession and/or right of possession of said leased premises given to Lessee and Lessor’s surrender of the square footage same, Lessee agrees to pay rent of $ , payable in two equal installments of $ payable on August 1, 20 and December 1, 20 . Checks should be made payable to Xxxxxxx Management Co., Inc. and mailed to 0000 Xxxxxxxxx Xxxx, Xxxxx #0, Xxxxxx, Xxxx 00000.
A. No invoices/and or reminders will be sent to Tenant and/or Guarantor. Please use this Lease with the above dates as your guide. Lessor reserves the right to deny possession of the leased Premises to at the square footage commencement of the Master Premises (its “Pro Rata Share”)) Lease Term if the first installment of rent and deposit has not been paid in full.
B. Lessee will be charged late fees of $5.00 per day for every day the semester rent installment is in arrears subsequent to a 5-days grace period following the due date of said semester installment and shall continue until the entire semester rent installment and all late fees are paid in full.
C. Lessee will be charged a fee of $50.00 for any check presented to Lessor which is dishonored and shall immediately pay, in U.S. currency or money order, such dishonored check fee along with the full amount of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share dishonored check (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areasno replacement check will be accepted), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee the provisions of this paragraph concerning late payment will be applicable until such time as the returned check is paid in full as provided herein. These provisions are not in lieu of any other legal remedies available to Lessor or Lessor’s agent for nonpayment or late payment of rent by Lessee.
D. Any failure by Tenants to pay rent when due, shall payat the option the Landlord, terminate all rights of possession of Tenants hereunder. In the event that Tenants shall be absent from Premises for a period of ten (10) consecutive days while in default of rent for at least fifteen (15) days, Tenants shall, at the option of Landlord, be deemed to have abandoned the Premises and any property left shall be considered abandoned and may be disposed of by landlord as and when due under the Master Lease, (a) its Pro Rata Share he shall see fit. All personal property on Premises is hereby subject to a lien in favor of Landlord for payment of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior sums due hereunder to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held maximum extent allowed by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentlaw.
Appears in 2 contracts
Samples: Semester Lease, Semester Lease
Rent. Sublessee Unless otherwise agreed upon, the tenant shall ensure that the rent is delivered to the address provided by the landlord. Rent payments are due on the day of each . The tenant must pay Sublessor as the rent on time. If the rent is not paid on the date it is due, the landlord may charge a late payment fee of $10.00 for the Premises first day the rent is due and $2.00 a day after that until the rent is paid in full (“Base maximum late payment fee – $100.00). The landlord may also give the tenant a Notice of Termination for Non-Payment of Rent”) its pro rata share . The tenant agrees to pay rent to the landlord in the following amount: Basic Rent: $ For parking spaces: $ Other (based specify): $ Rent Payable $ Less Rent Discount* $ Actual Amount Tenant Must Pay: $ (Complete this section if a rent increase on the ratio of rental unit is due before the square footage of the Premises date this agreement ends.) The landlord plans to the square footage of the Master Premises (its “Pro Rata Share”)) of increase the rent payable under by the Master Lease, together annual rent increase guideline on (date) . The landlord must provide the tenant with an amount equal to Sublessee’s pro rata share (based on the ratio a Notice of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of Rent Increase at least 3 months before the rent payable under is increased. The landlord plans to apply for a rent increase above the Master Lease guideline to increase the rent on (date) . The proposed Rent Payable will be $ . The landlord must provide the tenant with respect a Notice of Rent Increase at least 3 months before the rent is increased. (Complete this section if there is a rent discount.) *Rent Discount A landlord is not required to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base offer a rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Leasediscount, but specifically excluding any feesif a discount is given, costsit must be set out in writing. Reducing or removing a rent discount is not considered a rent increase under The Residential Tenancies Act. However, charges an unconditional discount cannot be reduced or other consideration paid removed unless the tenant receives written notice of at least 3 months. If a tenancy agreement or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right discount agreement is for a fixed term, a landlord cannot reduce or option that Sublessor may have under remove an unconditional discount during the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease agreement. If a discount is subject to a condition, e.g. paying the rent on time, the landlord can withdraw it without notice if the tenant does not meet the condition. The landlord is offering a rent discount of $ subject to the following conditions: (it being understood that Sublessee shall have no obligation to pay any portion Provide details of any such feesconditions – add additional pages if necessary) (Complete this section, costs, charges, penalties if this form is being used to renew an existing tenancy agreement or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything there is a change to the contrary contained in discount during the term of this Sublease)agreement.) 🞏 Discount is the same as last year’s or increased by $ . 🞏 Discount is reduced by $ . 🞏 Discount is removed. 🞏 The proposed Rent Payable is subject to an application to the Residential Tenancies Branch for an above-guideline rent increase. The discount may be reduced or removed depending on the final decision on the landlord’s application. In any event, and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentActual Amount Tenant Must Pay will not exceed $ .
Appears in 2 contracts
Samples: Standard Residential Tenancy Agreement, Standard Residential Tenancy Agreement
Rent. Sublessee (a) Tenant shall pay Sublessor to Landlord as rent rental for the Premises (“Base Rent”) its pro rata share (based on the ratio during each year of the square footage term of this Lease the amount set forth in Section 1(h) hereof and as determined pursuant to Section 3(d) hereof. Such rental shall be payable in advance, in equal monthly installments upon the first day of each and every month throughout the term of this Lease; provided, however, that if the lease term shall commence on a day other than the first day of a calendar month or shall end on a day other than the last day of a calendar month, the rental for such first or last fractional month shall be such proportion of the Premises monthly rental as the number of days in such fractional month bears to the square footage total number of days in the calendar month.
(b) Rent and all other charges hereunder shall promptly be paid without prior demand therefor and without deductions or setoffs for any reason whatsoever, except as expressly herein provided, and overdue rent and any other sums payable by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of interest equal to [***] in excess of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase Prime Rate” published from time to time based on increases in by The Wall Street Journal (hereinafter referred to as the base rent under the Master Lease“Interest Rate”). In addition, Sublessee if any payment of rent is not paid when due, Tenant shall pay, as and when due under the Master Lease, (a) its Pro Rata Share pay to Landlord a late charge equal to [***] of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee each late payment. Landlord shall have no obligation to pay any portion accept less than the full amount of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise all installments of any such early termination right or optionrental and interest thereon and all charges hereunder which are due and owing by Tenant to Landlord, and if Landlord shall accept less than the full amount owing, Landlord may apply the sums received towards any of Tenant’s obligations at Xxxxxxxx’s discretion. Notwithstanding the foregoing, Tenant shall not be required to pay the late charge or the interest provided for therein on up to two (2) occasions during each calendar year, provided such payments are made to Landlord within ten (10) days after Xxxxxx’s receipt of written notice that Sublessor reserves the right same are past due.
(c) Landlord’s failure to exercise timely xxxx Xxxxxx shall in no way excuse Tenant from its payment obligations or constitute a waiver of Landlord’s entitlement to any such express early termination right or option held charges not timely billed by Sublessor Landlord.
(d) Xxxxxx agrees that all Basic Rental and additional rent (collectively “Rent”) due under the Master this Lease notwithstanding anything shall be paid to Landlord by (i) check mailed to the contrary contained address set forth in this Sublease)Section 1(o) hereof or such other address as Landlord shall designate by written notice to Tenant, and (bii) all costs directly incurred by wire transfer of immediately available funds, or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent(iii) electronic funds transfer.
Appears in 2 contracts
Samples: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Rent. Sublessee Tenant shall pay Sublessor Rent to Landlord (or to such Person as rent Landlord may direct (in writing)) during the Term, in lawful money of the United States of America which shall be legal tender for the Premises (“payment of public and private debts, without offset, abatement, demand or deduction, except as hereinafter expressly provided. All payments of Rent to Landlord shall be made by wire transfer of immediately available federal funds or by other means acceptable to Landlord in its sole discretion. Base Rent”) its pro rata share (Rent and Additional Debt Service Costs for any partial month shall be prorated on a per diem basis based on the ratio of the square footage of the Premises to the square footage of the Master Premises a 360 day year and twelve (its “Pro Rata Share”)12) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Leaseday months. In addition, Sublessee if directed to do so by Landlord in writing, Tenant shall paypay a portion of the Base Rent directly to any Facility Mortgagee in an amount specified in such Notice to Tenant. Notwithstanding the foregoing, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor if in connection with Sublessor’s exercise any Facility Mortgage Landlord is unable to obtain from the Facility Mortgagee a Subordination Agreement not to disturb Tenant's right to possession in the event of any termination right or option that Sublessor may a foreclosure of such Facility Mortgage, then Tenant shall have under the Master Lease right, at Tenant's sole election, to terminate the Master Lease prior pay directly to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation Facility Mortgagee all monthly payments due and payable or otherwise required thereunder. If Tenant elects to pay any portion of any make such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything payments directly to the contrary contained in this Sublease)Facility Mortgagee, then (i) upon each monthly payment Tenant shall simultaneously therewith deliver to Landlord evidence reasonably acceptable to Landlord that such payment was made, and (bii) all costs Tenant hereby agrees to indemnify, defend and hold harmless Landlord from any claims, losses or damages that Landlord suffers as a result of any failure, default or defect in Tenant's making such payment on Landlord's behalf. Any payments made directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee Tenant under this Sublease other than Paragraph may be off-set against Base Rent shall be deemed additional rentpayable by Tenant during such calendar month.
Appears in 2 contracts
Samples: Property Lease Agreement (Provident Senior Living Trust), Property Lease Agreement (Brookdale Senior Living Inc.)
Rent. Sublessee 7.1 Tenant shall pay Sublessor to Landlord as rent Base Rent for the Premises (“Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Lease Term.
7.2 In addition to Base Rent”) its pro rata share (based , commencing on the ratio Term Commencement Date, Tenant shall pay to Landlord as additional rent ("Additional Rent") at times hereinafter specified in this Lease (a) Tenant's Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant expressly assumes or agrees to pay under the provisions of this Lease that are owed to Landlord. Without limitation on other obligations of Tenant which survive the expiration of the square footage Lease Term, the obligations of Tenant to pay Additional Rent shall survive the expiration of the Premises Lease Term.
7.3 Landlord and Tenant hereby agree that it is their intent that all Base Rent, Additional Rent and other rent and charges payable to the square footage Landlord under this Lease (hereinafter individually and collectively referred to as "Rent") shall qualify as "rents from real property" within the meaning of the Master Premises (its “Pro Rata Share”)Section 856(d) of the Internal Revenue Code of 1986, as amended, (the "Code") and the Department of the U.S. Treasury Regulations promulgated thereunder (the "Regulations"). Should the Code or the Regulations, or interpretations thereof by the Internal Revenue Service contained in revenue rulings or other similar public pronouncements, be changed so that any Rent no longer so qualifies as "rent from real property" for purposes of Section 856(d) of the Code and the Regulations promulgated thereunder, such Rent shall be adjusted in such manner as the Landlord may require so that it will so qualify; provided, however, that any adjustments required pursuant to this Section 7.3 shall be made so as to produce the equivalent (in economic terms) Rent as payable under prior to such adjustment. Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the Master LeaseUnited States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Lease Term commences or ends on a day other than the first day of a calendar month, together with an amount equal to Sublessee’s pro rata share (based then the Rent for such fraction of a month shall be prorated for such period on the ratio basis of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within a thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset day month and without prior notice or demand, shall be paid at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any current rate for such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentfractional month.
Appears in 2 contracts
Samples: Lease (Mabvax Therapeutics Holdings, Inc.), Lease (Mabvax Therapeutics Holdings, Inc.)
Rent. Sublessee The Lessee shall pay Sublessor Base Rent in the amounts and at the times set forth in Exhibit B. The Lessee agrees and acknowledges that Exhibit B may be amended at any time: (i) to reamortize the Principal Component in the event moneys are transferred from the Acquisition Fund upon completion of the Project and applied to the prepayment of lease Principal; or (ii) upon any other partial prepayment of the Purchase Price. If the Lessor determines that an amendment to Exhibit B is appropriate, CoLT will mail to the Lessee a revised Exhibit B (identified by date or other means), by first class mail, postage prepaid. Said amendment will become effective and will for all purposes become a part of this Lease and will reflect Base Rent to be paid by the Lessee for subsequent periods (unless Exhibit B is further amended as rent provided in this Section) upon the earlier of the acknowledgment thereof by the Lessee or automatically on the next payment date set forth in the revised Exhibit B. The Lessee will pay Additional Rent within fifteen (15) days after a written request therefor is mailed to the Lessee by or on behalf of the Lessor. Any Lease Payment that is not paid when due shall bear interest thereon at the Late Payment Rate. To the extent the Lessor advances any funds for the Premises (“Base Rent”) its pro rata share (based payment of any amounts due hereunder or to cure any Event of Default hereunder, the Lessee shall immediately reimburse the Lessor therefore with interest accrued on such amount at the ratio of the square footage of the Premises Late Payment Rate. Amounts due pursuant to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal this paragraph will be deemed to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be Additional Rent due and payable within thirty when incurred and without further written demand therefor. Each Lease Payment will be applied to amounts then due and payable: (30i) days first to the Interest Component of delivery by Landlord Base Rent, (ii) second to the Principal Component of an invoice thereforBase Rent, (iii) third to Additional Rent, and (iv) fourth to the components of Base Rent that are not Interest Component or Principal Component. This Lease will be deemed and construed to be a "net lease," and the Lessee will pay absolutely net during the Lease Term, the Lease Payments and all other payments required hereunder, free of any deductions, and without abatement, deduction or offset set-off (other than credits against Lease Payments expressly provided for in this Lease). Notwithstanding any dispute between Lessee and without prior notice Lessor or demanda dispute between Lessee and any Project related vendors, Lessee shall make all Lease Payments when due and shall not withhold any Lease Payments pending final resolution of such dispute nor shall Lessee assert any right of set-off or counterclaim against its obligations to make such payments required under this Lease. Lease Payments shall be payable to the Disbursing Agent at the address indicated by Sublessor place set forth in writing from time to time. Such Base Rent shall increase Exhibit B or at such other place as the Disbursing Agent may from time to time based on increases designate in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentwriting.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Rent. (a) Sublessee shall pay Sublessor as rent, in advance, without notice or demand in equal monthly payments, on or before the first day of each month, during the period of time indicated below at the following rates: Lease Term Rental Rate June 1, 1995 - May 31, 1997 $14.00 per rentable square foot per year June 1, 1997 - May 31, 1999 $15.00 per rentable square foot per year June 1, 1999 - May 31, 2000 $16.00 per rentable square foot per year The total rentable square feet of 21,996 shall be multiplied by Fourteen Dollars ($14.00) to produce the annual base rent for the Premises (“Base Rent”) its pro rata share (based on the ratio initial two years of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease Sublease and thereafter the total rentable square feet shall be multiplied by the rental rate indicated in the schedule above to determine the annual base rental payable by Sublessee. The applicable annual rent shall be divided by 12 to determine the monthly rent payable by Sublessee.
(it being understood that b) Any additional sum Sublessee shall have no is required to pay Sublessor under the terms of this Sublease is designated as Additional Rent.
(c) The obligation to pay any portion rent including Additional Rent hereunder is an independent covenant of the Sublessee and such payment shall be net of any such feesother obligation Sublessee may have and shall be made without demand, costsoffset or counterclaim.
(d) Except as specifically set forth herein, charges, penalties or other consideration paid Sublessor's only obligations are as set forth in connection with Sublessor’s exercise this Sublease and Sublessee indemnifies Sublessor of any such early termination right or option, all costs and that Sublessor reserves the right to exercise any such express early termination right or option held liabilities incurred by Sublessor under on account of Sublessee's tenancy of the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by Subleased Premises or at the request failure of Sublessee with respect to perform any of its use of the Premises. All amounts required to obligations hereunder.
(e) Any rent and/or additional rent shall be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentto Sublessor at 00 Xxxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxxxxxx 00000, Attention: X. Xxxxxx.
Appears in 2 contracts
Rent. Sublessee 4.1 MONTHLY BASE RENT. The following Schedule shall pay Sublessor apply: • June 1st 2011 to December 31st, 2011 $ 6,000 per month • January 1st 2012 to December 31st, 2012 $ 9,000 per month • January 1st 2013 to December 31st, 2013 $ 10,500 per month • January 1st 2014 to December 31st, 2014 $ 11,500 per month • January 1st 2015 to November 30th, 2015 $ 13,000 per month The monthly base rental due hereunder shall be payable to Lessor by the first day of each month during the Term at the address stated herein or to such other persons or at such other places as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio Lessor may designate in writing and shall be paid in lawful money of the United States of America. All rent shall be payable to Lessor’s bank account by regular electronic deposit, without prior demand or notice and without deduction or set off for counterclaim. The Lessee further agrees to pay Lessor, in addition to the rent as provided herein, all privilege, sales, excise, rental and other taxes (except income taxes) imposed now or hereinafter imposed by any governmental authority upon the rentals and all other amounts herein provided to be paid by the Lessee to the Lessor. Said payment shall be in addition to and accompanying each monthly rental payment made by Lessee to Lessor. The base rental set forth in this Section 4.1 is a negotiated figure and shall govern whether or not the actual gross rentable square footage of the Premises is the same as set forth in Section 12 hereof. Lessee shall have no right to withhold, deduct or offset any amount from the square footage of base monthly rental or any other sum due hereunder even if the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of actual gross rentable square footage of the Premises (excluding is less than that set forth in Section 12. Rent for any period during the Shared Areas) Term which is for less than one month shall be a pro rata portion of the monthly installment. The term “rent” as used herein, unless otherwise specified, shall refer collectively to the square footage of the Master Premises (excluding the Shared Areas), of the monthly base rent payable under the Master Lease with respect and any other sums required to the Shared Areasbe paid by Lessee to Lessor hereunder. Such amounts Rent shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid without deduction, without deduction or offset and without offset, prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with SublessorLessor’s exercise acceptance of any termination right rent payment that is for less than the entire amount then currently due hereunder shall be only as an acceptance on account and shall not constitute an accord and satisfaction or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration a waiver by Lessor of the then-scheduled term balance of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion rent due or a waiver of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required remedies available to be paid Lessor by Sublessee under this Sublease other than Base Rent shall be deemed additional rentreason of Lessee’s continuing default hereunder.
Appears in 2 contracts
Samples: Standard Commercial Industrial Multi Tenant Triple Net Lease (HTG Molecular Diagnostics, Inc), Standard Commercial Industrial Multi Tenant Triple Net Lease (HTG Molecular Diagnostics, Inc)
Rent. Sublessee shall pay Sublessor as The rent for the Premises Accommodation will be as stated on page 1 of this Tenancy Agreement. The Landlord acknowledges the Tenant has paid the Advance Payment of FIVE HUNDRED POUNDS (“Base Rent”£500) its pro rata share STERLING which will be credited to the Tenant’s rent account. Subsequent Rent payments must be paid by monthly instalments in advance by recurring card payments (based from a UK bank account). The subsequent monthly sums due will be shown on the ratio rent schedule to be provided separately to the Tenant. The sum of ONE HUNDRED AND FIFTY POUNDS (£150) STERLING of the square footage Advance Payment will be retained by the Landlord as a cancellation fee if this Tenancy Agreement is terminated, either by the Tenant or by the Landlord due to a breach of the Premises terms of this Tenancy Agreement by the Tenant, prior to 4 September 2020. If this Tenancy Agreement is terminated by the Tenant, or by the Landlord due to a breach of the terms of this Tenancy Agreement by the Tenant, at any time after 4 September 2020 before the contractual termination date stated on page 1 of this Tenancy Agreement the Landlord will be entitled to retain from the Rent paid in advance such sums as may Necessary to compensate the Landlord for the Landlord’s losses due to such early termination all in accordance with the terms of Condition 25 (c) hereof. If there is an insufficient sum at the credit if the Tenant’s Rent account to compensate the Landlord for the Landlord’s losses, (as determined in accordance with Condition 25 (c)) the Tenant will remain responsible for payment of any shortfall notified to the square footage Tenant. In the event of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based there being a credit balance on the ratio of square footage of the Premises (excluding the Shared Areas) Tenant’s Rent there shall be refunded to the square footage Tenant such proportion of any payments made in advance by the Master Premises Tenant as may remain after deduction of (excluding 1) any Rent due by the Shared Areas)Tenant until the date of occupation by the new occupier and (2) Administrative, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforlegal, without deduction or offset and without prior notice or demandfactorial, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance cleaning and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of Landlord in re-letting the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
Appears in 2 contracts
Samples: Tenancy Agreement, Tenancy Agreement
Rent. Sublessee In consideration of this Lease, during the Term, Lessee shall pay Sublessor to Lessor the amounts set forth in Exhibit C as annual basic rent for the Premises (“Base Basic Rent”). Lessee shall pay Basic Rent and all other sums payable to Lessor hereunder to Lessor (or, upon Lessor’s request, to any mortgagee(s) its pro rata share or beneficiary(ies) identified by Lessor (based whether one or more, the “Mortgagee”) under any mortgages, deeds of trust or similar security instruments creating a lien on the ratio interest of the square footage of Lessor in the Premises to (whether one or more, the square footage of the Master Premises (its “Pro Rata ShareMortgage”)) of the rent payable under the Master Leaseby check or wire transfer, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)in immediately available funds, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase as directed from time to time based on increases by the Lessor, or at such other address or to such other person as Lessor from time to time may designate. Lessor shall give Lessee not less than fifteen (15) days prior written notice of any change in the base rent under address to which such payments are to be made. If the Master Lease. In additionparty entitled to receive Basic Rent or such party’s address shall change, Sublessee shall payLessee may, until receipt of notice of such change from the party entitled to receive Basic Rent or other sums payable hereunder immediately preceding such change, continue to pay Basic Rent and other sums payable hereunder to the party to which, and in the manner in which, the preceding installment of Basic Rent or other sums payable hereunder, as and when the case may be, was paid. Such Basic Rent shall be paid in equal monthly installments in advance on the first day of each month, except for any Basic Rent due under for the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration rental of the then-scheduled term Premises during the Interim Term which shall be payable in advance on or before the date hereof. Any rental payment made in respect of a period which is less than one month shall be prorated by multiplying the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion then applicable monthly Basic Rent by a fraction the numerator of any which is the number of days in such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee month with respect to which rent is being paid and the denominator of which is the total number of days in such month. Lessee shall perform all its use of the Premises. All amounts required to be paid by Sublessee obligations under this Sublease Lease at its sole cost and expense, and shall pay all Basic Rent, and other than Base Rent shall be deemed additional rentsums payable hereunder when due and payable, without notice or demand.
Appears in 2 contracts
Samples: Lease Agreement (M/a-Com Technology Solutions Holdings, Inc.), Lease Agreement (M/a-Com Technology Solutions Holdings, Inc.)
Rent. Sublessee shall Section 3.01. Tenant covenants and agrees to pay Sublessor as rent to Landlord from and after the Commencement Date and for the Premises remainder of the term of this Lease, an annual rent (“Base Annual Rent”) its pro rata share in the amount of one Dollar (based $1), payable in advance on the ratio first business day of each calendar year during the term. Landlord acknowledges that Tenant has prepaid the Annual Rent for the entire Term.
Section 3.02. Tenant will, at Tenant’s sole cost and expense, bear, pay and discharge prior to delinquency, as additional rent, all Impositions which shall, pursuant to present or future law or otherwise, prior to or during the term hereby granted, have been or be levied, charged, assessed, or imposed, and any interest or penalties for late payment thereof; it being the intention of the square footage of parties hereto that the Premises rents reserved herein shall be received and enjoyed by Landlord as a net sum free from all such Impositions. Landlord shall be responsible for all taxes, including ad valorem real estate taxes, imposed on or otherwise relating to the square footage Landlord Property.
Section 3.03. All payments of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal made by Tenant to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Landlord hereunder shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, and all other payments required to be made by Tenant to Landlord hereunder shall be payable upon such notice as is herein required, in lawful currency of the United States of America, or by check subject to collection, and shall be paid to Landlord by delivering or mailing the same by regular mail to the party to whom notices are to be sent pursuant to Section 17.01 or to such other person and/or at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase such other place as Landlord may from time to time based on increases designate in writing.
Section 3.04. Tenant shall pay to Landlord throughout the base term of this Lease the rents, additional rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Leasepayments hereunder, but specifically excluding any feeswithout abatement, costsdeduction or set-off except as otherwise expressly provided herein; provided, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option however, that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee Tenant shall have no obligation not be required to pay any portion Impositions or any mortgage indebtedness or any interest on any mortgages that at any time may encumber the interests of Landlord in the Premises.
Section 3.05. All additional rent and other payments provided for under this Lease shall constitute rent payable hereunder with the same effect as if the same were the rent reserved herein and, in the event of the non-payment by Tenant of any such fees, costs, charges, penalties additional rent or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything payments when due according to the contrary contained terms of this Lease, Landlord shall have the same rights and remedies in this Sublease), and (b) all costs directly incurred by respect thereof as Landlord shall have or at the request of Sublessee with may have in respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentrent herein reserved.
Appears in 2 contracts
Samples: Purchase Agreement (Calpine Corp), Purchase Agreement (Pepco Holdings Inc)
Rent. Sublessee shall Tenant shall, without deduction, abatement or setoff of any nature whatsoever, except as elsewhere herein provided, pay Sublessor to Landlord as fixed minimum rent for the Leased Premises Four Hundred Thirty-Six Thousand Four Hundred Forty and 00/100 Dollars (“Base Rent”$436,440.00) its pro rata share per annum, payable in equal monthly installments of Thirty Six Thousand Three Hundred Seventy and 00/100 Dollars (based $36,370.00) each, in advance and without demand on the ratio first day of each and every month during the square footage term of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master this Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time office of the Landlord or at such other place or to time. Such Base Rent shall increase such other person as Landlord may from time to time based designate in writing, except that Tenant shall pay the first monthly installment on increases in the base rent under the Master execution of this Lease. In additionIf the term of this Lease shall commence on a date other than the first day of a calendar month, Sublessee such first installment shall paybe prorated for the period between the date of commencement of the term of this Lease and the first day of the following month. This minimum rent is calculated at $15.00 per square foot per annum based upon the Leased Premises comprising 29,096 square feet of rentable area determined as set forth on Exhibit "C" attached hereto based upon the Leased Premises comprising [25,978] usable square feet calculated in accordance with BOMA standards and a common area factor of twelve percent (12%). Tenant may, as and when due under the Master Leaseat its option, either: (a) its Pro Rata Share annually in advance provide the manager of all operating expensesthe Premises, taxesas same may be appointed and designated by Landlord from time to time (the "Manager"), insurance and other costs payable under with twelve (12) post-dated checks for the Master Leasemonthly installments due hereunder for said annual fixed minimum rent, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor each monthly installment to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior be applied to the expiration obligations of Tenant by the then-scheduled term of Manager as same become due (the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease"Check Payment Option"), and or (b) all costs directly incurred arrange for automatic monthly wire transfers to the Manager in the amount of the monthly installments due hereunder (the "Automatic Wire Option") (the Check Payment Option and the Automatic Wire Option are hereinafter referred to collectively as the "Automatic Payment Plan"). In the event Tenant elects not to use an Automatic Payment Plan or does elect to use an Automatic Payment Plan and the rental obligations of Tenant are not timely met for any reason, other than failure of the Manager to apply a payment under the Check Payment Option by depositing the appropriate check, including but not limited to there being insufficient funds in the account of Tenant from which an Automatic Payment Plan is to be paid, any rental obligation or other amount due from Tenant to Landlord hereunder which is not paid within five (5) business days of the date when due shall bear interest at the request rate of Sublessee with respect to its use eighteen percent (18%) per annum (or the highest rate permitted by applicable law, whichever is less) from the due date until paid, unless otherwise specifically provided herein, but the payment of such interest shall not excuse or cure any default by Tenant under the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentLease.
Appears in 2 contracts
Samples: Lease (American Homepatient Inc), Lease Agreement (American Homepatient Inc)
Rent. Sublessee (a) Subject to subsection (c) below, commencing on and after the Commencement Date, Lessee shall pay Sublessor as rent Lessor all monetary obligations of Lessor under each Prime Lease for its respective Property applicable to the Premises Term (including, without limitation, base, fixed or minimum rent, percentage rent, additional rent, common area maintenance charges, real estate taxes and assessments, insurance charges, waste removal charges, merchants association dues, marketing, advertising and other promotional fund contributions, utility charges, HVAC and chilled water charges) (collectively, the “Base Property Rent”).
(b) its pro rata share Commencing on and after the Commencement Date, Lessee shall pay directly to Lessor, at Lessor’s office at the address designated for notices to Lessor in Section 11(a) hereof, all other amounts payable by Lessee that arise as an independent obligation under this Sublease (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata ShareAdditional Rent”)) of the rent payable under the Master Lease, together with an amount equal the Property Rent, the “Rent”).
(c) Lessor and Lessee agree to Sublessee’s pro rata share (based on the ratio of square footage cooperate, and to take all reasonably necessary or desirable actions possible, to arrange for all payments by Lessee of the Premises (excluding the Shared Areas) Property Rent with respect to the square footage of the Master Premises (excluding the Shared Areas)each Property directly to Prime Landlord with respect to such Property, of the rent payable and, with respect to each Property, to otherwise establish a direct relationship between Prime Landlord and Lessee with respect to all matters arising under the Master Prime Lease with respect to the Shared Areassuch Property and this Sublease with respect to such Property. Such amounts All Property Rent with respect to any Property shall be paid in lawful money of the United States to Prime Landlord with respect to such Property (or, if such Prime Landlord will not agree to such arrangement, then to Lessor at Lessor’s office at the address designated for notices to Lessor in Section 11(a) hereof in immediately available funds at least two (2) Business Days prior to the date when such Property Rent is due and payable under such Prime Lease), or at such other place as either Prime Landlord or Lessor may designate, as the case may be, by notice to Lessee. Lessor and Lessee agree that it is the intention of Lessor and Lessee to pass all of Lessor’s obligations (without premium or xxxx-up) for Property Rent incurred under the Prime Lease during the Term with respect to each Property to Lessee, and Lessee agrees to pay or otherwise reimburse Lessor for all of Lessor’s obligations for Property Rent incurred with respect to each Prime Leases and each Property. If a Prime Landlord will not accept a direct payment from Lessee of Property Rent under the respective Prime Lease, then, provided Lessee shall have delivered such Property Rent payment to Lessor within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset the time and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In additionmanner specified in this subsection (c), Sublessee Lessor shall pay, as and when due under the Master Lease, (a) its Pro Rata Share deliver such payment of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges Property Rent to such Prime Landlord on or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration date when such Property Rent is due and payable under such Prime Lease and in such manner as provided under the respective Prime Lease.
(d) All obligations of Lessee and Lessor under this Section 4 shall survive the termination of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties Prime Leases or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
Appears in 2 contracts
Samples: Sublease (Express Parent LLC), Sublease (Express Parent LLC)
Rent. Sublessee (a) The Lessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based FBTC Basic Rent and Lessor Basic Rent on the ratio Acquisition Date. Thereafter the Lessee shall pay Basic Rent (to the extent such Basic Rent (or any component thereof) is then due and owing) on (x) each Payment Date during the Term, (y) the date required under Section ------- 24.1
(i) in connection with the Lessee's exercise of the square footage Remarketing Option, ------- and (z) any date on which this Lease shall terminate. The Lessee and Lessor hereby agree that amounts which would otherwise be payable by Lessee to Lessor hereunder as Lessor Basic Rent are payable as interest on the Pledged Securities pursuant to the terms of the Premises to the square footage of the Master Premises Securities Pledge Agreement and such amounts shall not constitute Rent hereunder.
(its “Pro Rata Share”)b) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Rent shall be due and payable within thirty in lawful money of the United States and, after the occurrence and during the continuance of a Cash Management Event, shall be paid by wire transfer of immediately available funds on the due date therefor from the relevant Sub-Accounts of the Cash Collateral Account, to the extent funds exist therein. With the exception of the first payment on the Acquisition Date of FBTC Basic Rent and Lessor Basic Rent, for which at least two (302) days Business Days prior written notice from the Lessor shall be provided, the Lessor shall provide written notice of delivery the amount of Basic Rent due at least five (5) Business Days prior to each due date therefor; provided, however, that the failure of the Lessor -------- ------- to provide such notice shall not affect Lessee's obligations hereunder or impose liability on Lessor. Lessee shall deposit all security deposits received by Landlord it with respect to the Property into the Security Deposit Account and shall cause all relevant checks to be made payable to the name of an invoice thereforthe Security Deposit Account.
(c) So long as a Cash Management Event is not continuing, without deduction or offset Rent shall be payable by wire transfer of immediately available funds on the due date therefor as follows:
(i) Lessor Basic Rent and without prior notice or demand, FBTC Basic Rent and Supplemental Rent to which the Lessor is entitled shall be payable to the Lessor at the address indicated by Sublessor place of payment designated in writing from time by the Lessor and (ii) the remainder of Basic Rent and Supplemental Rent to timewhich the Lender is entitled shall be payable to the Lender or Lender's designee or to an account identified by Lender or Lender's designee as set forth in Section ------- 2.12 (b) of the Nomura Loan Agreement. Such Base Rent shall increase from time --------
(d) Neither the Lessee's inability or failure to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share take possession of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding or any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration portion of the then-scheduled term Property when delivered by the Lessor, whether or not attributable to any act or omission of the Master Lease (it being understood that Sublessee Lessee, or for any other reason whatsoever, shall have no delay or otherwise affect the Lessee's obligation to pay any portion Rent for the Property in accordance with the terms of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentLease.
Appears in 2 contracts
Samples: Lease (Brookdale Living Communities Inc), Lease (Brookdale Living Communities Inc)
Rent. Sublessee shall (a) During the Initial Term, Lessee will pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based to Lessor on the ratio first Business Day of each Quarter the square footage of payment set forth on Schedule 1 for such Quarter (or, if applicable, the Premises to pro- rated portion thereof) (the square footage of the Master Premises (its “Pro Rata ShareInitial Term Rent Payments”)) of the rent payable under the Master Lease, together with . The Initial Term Rent Payments for a Quarter shall be adjusted in an amount equal to Sublessee’s pro rata share (based on any applicable increase or decrease calculated in accordance with the ratio of square footage methodology set forth in Exhibit C. The Initial Term Rent Payments shall be payable through the end of the Premises Initial Term notwithstanding any termination of this Lease (excluding and the Shared Areasobligation to make all such Initial Term Rent Payments will be treated as having been incurred at the inception of the Initial Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the square footage end of the Master Premises (excluding Initial Term, no further Initial Term Rent Payments shall be due, though the Shared Areas), Lessee will pay to the Lessor a pro-rated amount of the rent payable under the Master Lease Initial Term Rent Payment due with respect to the Shared AreasQuarter in which this Lease is terminated. Such amounts With respect to the first payment to be made hereunder for the first Quarter of the Initial Term, Lessee shall pay to Lessor (i) on the Effective Date, the pro-rated portion of the Initial Term Rent Payment set forth on Schedule 1 for such Quarter for the period of time from and including the Effective Date to the end of such Quarter, and (ii) within fifteen (15) Days after the Effective Date, the pro-rated portion of the all rent payments due under the Exchange Lease for the period of time from the first day of the current Renewal Term (as such term is defined in the Exchange Lease) under the Exchange Lease to (but not including) the Effective Date.
(b) During each Renewal Term, Lessee will pay to Lessor on the first Business Day of each Quarter the payment set forth on Schedule 1 for such Quarter (or, if applicable, the pro-rated portion thereof) (the “Renewal Term Rent Payments”). The Renewal Term Rent Payments for a Quarter shall be due adjusted in an amount equal to any applicable increase or decrease calculated in accordance with the methodology set forth in Exhibit C. The Renewal Term Rent Payments shall be payable through the end of the applicable Renewal Term notwithstanding any termination of this Lease (and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, the obligation to make all such Renewal Term Rent Payments will be treated as having been incurred at the address indicated inception of the Renewal Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the end of the applicable Renewal Term, no further Renewal Term Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the Renewal Term Rent Payment due with respect to the Quarter in which this Lease is terminated. If this Lease is extended beyond November 9, 2021 pursuant to Section 3.1(b), the Parties shall negotiate in good faith to agree on the Rent Payments for Renewal Terms during such extension. If the Parties cannot agree in good faith on the Rent Payments for such Renewal Terms by Sublessor the commencement of such extension, then this Lease shall terminate as of such date.
(c) Lessee shall make the Rent Payments in writing from time immediately available funds to time. Such Base Rent shall increase an account in the United States of America designated from time to time based on increases to Lessee in the base rent under the Master Leasewriting by Lessor. In additionThe initial nominated account of Lessor is: Colorado Business Bank ABA #: 000000000 Account Name: AEC-NM, Sublessee shall pay, as and when due under the Master Lease, LLC Account #: *
(ad) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts Any Rent required to be paid by Sublessee under this Sublease other than Base Section 2.2 that is not so paid (unless subject to a good faith dispute) will bear interest from the date on which Rent was required to be 6 paid to the date such Rent is actually received by Lessor at an effective annual rate equal to the Interest Rate. In the event of a dispute with respect to any Rent pursuant to this Section 2.2, the Parties shall continue to perform their obligations as required hereunder. Upon resolution of such dispute, the Rent, if any, determined to be owing by Lessee to Lessor (by agreement of the Parties or final determination of a court of competent jurisdiction) shall be deemed additional rentpaid within five Business Days following such resolution, together with interest (using the interest rate described above) from the date Lessee was required to pay the disputed amount.
Appears in 2 contracts
Samples: Equipment Lease (Advanced Emissions Solutions, Inc.), Equipment Lease (Advanced Emissions Solutions, Inc.)
Rent. Sublessee 3.1 Lessee covenants and agrees to pay Lessor at the place provided herein for the giving of notice to Lessor, as annual base rent for said Premises the sum of Thirty Five Thousand Eight Hundred Forty-Seven Dollars and Fifty Cents ($35,847.50) payable in monthly installments Two Thousand Nine Hundred Eighty-Seven Dollars and Twenty-Nine Cents ($2,987.29) for each month. Each monthly installment shall be paid in advance on the FIRST DAY of each and every calendar month during the term hereof. If the term of this lease shall begin on a day other than the 1st of a month, the Lessee shall pay Sublessor as a PRO RATA portion of a month's rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of day the square footage of term commences and thereafter the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based Lessee shall pay a succeeding monthly installment on the ratio 1st day of square footage each succeeding month. Under no circumstances shall Lessee be entitled to withhold any rent due hereunder or setoff against the same on account of the Premises (excluding the Shared Areas) Lessor's purported failure to the square footage perform any of the Master Premises (excluding the Shared Areas), its obligations hereunder.
3.2 Any payment by Lessee or acceptance by Lessor of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts a lesser amount than shall be due from Lessee to Lessor shall be treated as a payment on account. The acceptance by Lessor of a check or payment for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such a check or payment, that such lesser amount is payment in full, shall be given no effect and payable within thirty (30) days of delivery by Landlord of an invoice therefor, Lessor may accept such check or payment without deduction prejudice to any other rights or offset remedies which Lessor may have against Lessee.
3.3 Lessee covenants and without prior notice or demand, agrees to pay Lessor at the address indicated place provided herein for the giving of notice to Lessor, as additional rent during the term hereof Lessee's PRO RATA share, which is hereby defined and agreed as being 19.626% of the charges, costs and expenses defined in paragraphs 6.3, 7.2, 10.1 and 19.1 of this Lease. Lessee shall pay Lessor such additional rent in monthly installments coincidental with the monthly base rental payments as set forth in paragraph 3.1 hereof. Lessee acknowledges that Lessor may adjust, once every month, the amount of Lessee's monthly installments to cover any difference between the actual charges, costs and expenses incurred by Sublessor Lessor and the amount of the monthly installments paid by Lessee. It is agreed that Lessee's additional rent in writing from time to time. Such Base Rent monthly installments shall increase from time to time based on increases be One Thousand Six Hundred Eight Dollars and Fifty-Four Cents ($1,608.54) until notification of further adjustment in the base rent under the Master accordance with this Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior addition to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such feesforegoing, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.Lessor may make assessments for expenses incurred
Appears in 2 contracts
Samples: Lease (Skillsoft Corp), Lease (Skillsoft Corp)
Rent. Sublessee shall 4.1 Tenant hereby agrees to pay Sublessor as rent for Landlord the Premises Base Rent. For purposes of Rent adjustment under the Lease, the number of months is measured from the first day of the calendar month in which the Commencement Date falls. Each monthly installment (the “Base Monthly Rent”) its pro rata share shall be payable by check or by money order on or before the first day of each calendar month. In addition to the Base Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes (based on each as hereinafter defined), and any and all other sums of money as shall become due and payable by Tenant as hereinafter set forth, all of which shall constitute additional rent under this Lease (the ratio “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or any other items of Rent that are not paid by Tenant. The Monthly Rent and the Additional Rent are sometimes hereinafter collectively called “Rent” and shall be paid when due in lawful money of the square footage United States without demand, deduction, abatement, or offset to the addresses for the rental payment set forth in the Basic Lease Information, or as Landlord may designate from time to time.
4.2 In the event any Monthly or Additional Rent or other amount payable by Tenant hereunder is not paid within five (5) days after its due date, Tenant shall pay to Landlord a late charge (the “Late Charge”), as Additional Rent, in an amount of five percent (5%) of the amount of such late payment; provided, however, that Tenant shall be entitled to a grace period of five (5) days for the first late payment in a calendar year. Failure to pay any Late Charge shall be deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and remedies available to Landlord hereunder, at law or in equity, and shall not be construed as liquidated damages or limiting Landlord’s remedies in any manner. Failure to charge or collect such Late Charge in connection with any one (1) or more such late payments shall not constitute a waiver of Landlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments.
4.3 Simultaneously with the execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of Monthly Rent for the fifth (5th) full calendar month of the initial Term (subject to Tenant’s right to receive Abated Base Rent described in Section 4.7 below) and Tenant’s Share of Operating Expenses and Taxes for the first (1st) full calendar month of the initial Term; and (ii) the Letter of Credit, as described in Article 53 below. Any Security Deposit that may be required under this Lease shall be held by Landlord as security for the performance by Tenant of all of the covenants of this Lease to be performed by Tenant and Tenant shall not be entitled to interest thereon. The Security Deposit is not an advance rent deposit, an advance payment of any other kind, or a measure of Landlord’s damages in any case of Tenant’s default. If Tenant fails to perform any of the covenants of this Lease to be performed by Tenant, including without limitation the provisions relating to payment of Rent, the removal of property at the end of the Term, the repair of damage to the Premises caused by Tenant, and the cleaning of the Premises upon termination of the tenancy created hereby, then Landlord shall have the right, but no obligation, to apply the Security Deposit, or so much thereof as may be necessary, for the payment of any Rent or any other sum in default and/or to cure any other such failure by Tenant. If Landlord applies the Security Deposit or any part thereof for payment of such amounts or to cure any such other failure by Tenant, then Tenant shall immediately pay to Landlord the sum necessary to restore the Security Deposit to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an full amount equal to Sublesseethen required by this Section 4.3 Landlord’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease obligations with respect to the Shared AreasSecurity Deposit are those of a debtor and not a trustee. Such amounts Landlord shall not be required to maintain the Security Deposit separate and apart from Landlord’s general or other funds and Landlord may commingle the Security Deposit with any of Landlord’s general or other funds. Upon termination of the original Landlord’s or any successor owner’s interest in the Premises or the Building, the original Landlord or such successor owner shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing released from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee further liability with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentSecurity Deposit upon the original Landlord’s or such successor owner’s complying with California Civil Code Section 1950.
Appears in 2 contracts
Samples: Lease Agreement (PROCEPT BioRobotics Corp), Lease Agreement (PROCEPT BioRobotics Corp)
Rent. Sublessee 7.1. Tenant shall pay Sublessor to Landlord as Base Rent for the Premises, commencing on December I, 2018 (the “Rent Commencement Date”), the sums set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
7.5. Provided that Tenant is not then in default of this Lease (beyond the expiration of all applicable notice and cure periods expressly set forth in this Lease), then during the initial six (6) calendar months of the Term following the Rent Commencement Date (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises (the “Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement shall be in an amount not to exceed Two Hundred Seventy-Eight Thousand Two Hundred Seven and 70/100 Dollars ($278,207.70). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease beyond any applicable notice and cure period provided in this Lease, then Tenant’s right to receive the Base Rent Abatement for the Base Rent Abatement Period shall automatically terminate as of the date of such default and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The Base Rent Abatement shall be personal to the original Tenant and shall only apply to the extent that the original Tenant (“Base Rent”) its pro rata share (based on the ratio and not any assignee, or any sublessee or other transferee of the square footage of original Tenant’s interest in this Lease) is the Premises Tenant under this Lease during the Base Rent Abatement Period. Nothing in this Section shall work to xxxxx or reduce (during the square footage of the Master Premises (its “Pro Rata Share”)Rent Abatement Period or otherwise) of the rent payable Tenant’s obligations under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master this Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty Additional Rent including (30without limitation) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with SublessorTenant’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee obligations with respect to its use Tenant’s Adjusted Share of Operating Expenses and the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentProperty Management Fee.
Appears in 2 contracts
Samples: Lease (Erasca, Inc.), Lease (Erasca, Inc.)
Rent. Sublessee (a) Lessee shall pay Sublessor to Lessor in cash or by check as rent for the Premises Equipment during the Lease Term, the amounts provided for in the Rental Schedule (“Base "Basic Rent”") its pro rata share (based for such Equipment on the ratio of the square footage of the Premises to the square footage of the Master Premises dates designated therein (its “Pro Rata Share”"Payment Dates")) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the location of Lessor set forth therein, or at such other address indicated by Sublessor in writing or to such other person or entity as Lessor, from time to time. Such Base , may designate.
(b) Lessee shall also pay to Lessor, upon notice by Lessor to Lessee that payment is due, any sums other than for Basic Rent that Lessee at any time shall increase from time be required to time based on increases in pay Lessor pursuant to the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master provisions of this Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, including but specifically excluding any fees, costs, charges or other consideration paid or not limited to sums payable by Sublessor reason of payments by Lessor to Master Lessor any Vendors in connection advance of the delivery of such Equipment or the commencement of the Lease Term for such Equipment, together with Sublessor’s exercise every additional charge, interest and cost which may be added for non-payment or late payment of any termination right such sums or option that Sublessor may have under the Master Lease to terminate the Master Lease prior of Basic Rent. All such sums shall be additional rent ("Additional Rent") and Lessor shall provide Lessee with notification as to the expiration amount of the then-scheduled term of the Master Lease (it being understood that Sublessee any Additional Rent. If Lessee shall have no obligation fail to pay any portion Additional Rent, Lessor shall have all rights, powers and remedies with respect thereto as are provided herein or by law in the case of non-payment of Basic Rent.
(c) With respect to any amount of Basic Rent or Additional Rent not received by Lessor within three days from when due hereunder, Lessee shall pay to Lessor interest on such feesamount from the due date thereof until payment is received by Lessor at two percent per month or the highest rate of interest on amounts past due that is not unlawful, costswhichever is lower (the "Default Interest Rate"). Additionally, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to each such instance of late payment, Lessee shall pay to Lessor, within three days of notification that such payment is due, a collection fee of $500, which fee approximates Lessor's administrative costs, at minimum, to collect such unpaid Basic Rent or Additional Rent.
(d) LESSEE AGREES THAT TIME IS OF THE ESSENCE TO LESSOR IN LESSEE'S MAKING PAYMENTS OF BASIC RENT AND ADDITIONAL RENT WHEN SUCH PAYMENTS BECOME DUE.
(e) This Lease is a net-net-net lease and, notwithstanding any other provisions of this Lease, it is intended that Basic Rent and Additional Rent shall be paid without notice, demand, counterclaim, setoff, deduction or defense and without abatement, suspension, deferment, diminution or reduction. Lessee shall perform all its obligations under this Lease at its sole cost and expense. Except to the extent otherwise expressly specified herein, the obligations and liabilities of Lessee hereunder shall in no way be released, discharged or otherwise affected for any reason, including, without limitation: (i) any defect in the condition, quality or fitness for use of the PremisesEquipment or any part thereof; (ii) any damage to, removal, abandonment, salvage, loss, scrapping or destruction of or any requisition or taking of the Equipment or any part thereof; (iii) any restriction, prevention or curtailment of or interference with any use of the Equipment or any part thereof; (iv) any defect in title or rights to the Equipment or any lien on such title or rights or on the Equipment; (v) any change, waiver, extension, indulgence or other action or omission in respect of any obligation or liability of Lessor; (vi) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceedings relating to Lessee or any action taken with respect to this Lease by any trustee or receiver of Lessee or by any court, in any such proceeding; (vii) any claim that Lessee has or might have against any Person (as hereinafter defined), including without limitation Lessor; (viii) any failure on the part of Lessor to perform or comply with any of the terms hereof or of any other agreement; (ix) any invalidity, unenforceability or disaffirmance of this Lease or any provision hereof against or by Lessee; or (x) any other occurrence whatsoever, whether similar or dissimilar to the foregoing, whether or not Lessee or Lessor shall have notice or knowledge of any of the foregoing. All amounts required To the extent permitted by law, Lessee waives all rights now or hereafter conferred by statute or otherwise to be paid quit, terminate, cancel, rescind or surrender this Lease, or to any diminution or reduction of Basic Rent or Additional Rent payable by Sublessee under this Sublease other than Base Rent shall be deemed additional rentLessee hereunder.
Appears in 2 contracts
Samples: Master Equipment Lease Agreement (Orthovita Inc), Master Equipment Lease Agreement (Cinema Ride Inc)
Rent. Sublessee 7.1. Tenant shall pay Sublessor to Landlord as Base Rent for the Premises, commencing on December I, 2018 (the “Rent Commencement Date”), the sums set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
7.5. Provided that Tenant is not then in default of this Lease (beyond the expiration of all applicable notice and cure periods expressly set forth in this Lease), then during the initial six (6) calendar months of the Term following the Rent Commencement Date (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises (the “Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement shall be in an amount not to exceed Two Hundred Seventy-Eight Thousand Two Hundred Seven and 70/100 Dollars ($278,207.70). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease beyond any applicable notice and cure period provided in this Lease, then Tenant’s right to receive the Base Rent Abatement for the Base Rent Abatement Period shall automatically terminate as of the date of such default and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The Base Rent Abatement shall be personal to the original Tenant and shall only apply to the extent that the original Tenant (“Base Rent”) its pro rata share (based on the ratio and not any assignee, or any sublessee or other transferee of the square footage of original Tenant’s interest in this Lease) is the Premises Tenant under this Lease during the Base Rent Abatement Period. Nothing in this Section shall work to axxxx or reduce (during the square footage of the Master Premises (its “Pro Rata Share”)Rent Abatement Period or otherwise) of the rent payable Tenant’s obligations under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master this Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty Additional Rent including (30without limitation) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with SublessorTenant’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee obligations with respect to its use Tenant’s Adjusted Share of Operating Expenses and the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentProperty Management Fee.
Appears in 2 contracts
Samples: Lease (Erasca, Inc.), Lease Agreement (Erasca, Inc.)
Rent. Sublessee 3.1 During the Term, Tenant shall pay Sublessor as minimum annual rent for (the Premises (“Base Minimum Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease$5,622,900.00 per annum, together with all other sums of money as shall become due and payable by Tenant under this Lease (hereinafter called “additional rent” or “Additional Rent”) which Tenant agrees to pay in lawful money of the United States of America which shall be legal tender in payment of all debts and dues, public and private, at the time of payment, in equal monthly installments in advance on the first day of each month during said term, at the office of Landlord or such other place as Landlord may designate in writing, without any set off or deduction whatsoever, except that Tenant shall pay the first monthly installment(s) on the execution hereof. The Minimum Rent and Additional Rent are collectively referred to herein as the “rent”.
3.2 If the payment of Minimum Rent hereunder shall commence on any day other than the first day of a calendar month, then the Minimum Rent for such calendar month shall be prorated on a per diem basis, and any excess amount paid on the execution of this Lease shall be credited to the Minimum Rent for the next calendar month.
3.3 In the event Landlord leases all or any portion of the space identified on Exhibit C attached hereto to a third party (a “Third Party Lease”) Tenant shall be entitled to a credit against the Minimum Rent and Additional Rent payable by Tenant hereunder by an amount equal to SublesseeTenant’s pro rata share (based on the ratio Proportionate Share of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery any Net Third Party Rents actually received by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall payLandlord, as and when due under shown on Landlord’s Operating Statement in accordance with the Master Leaseterms set forth in Section 5.3(c). For purposes of this Section 3.3, (a) its Pro Rata Share of the term “Net Third Party Rents” shall mean all operating expensesrents, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, additional charges or other consideration paid or payable under a Third Party Lease which are in excess of any brokerage commissions, tenant allowances, free rent, landlord alterations, reimbursements, reasonable attorney’s fees and other costs and expenses incurred by Sublessor to Master Lessor Landlord in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under such Third Party Lease amortized over the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee such Third Party Lease. In no event shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to unforfeited security deposits be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentconsidered Net Third Party Rents.
Appears in 2 contracts
Samples: Lease Agreement (Armstrong World Industries Inc), Lease Agreement (Armstrong Flooring, Inc.)
Rent. (a) Sublessee shall pay to Sublessor as the following base rent for the Subleased Premises (the “Base Rent”). The Base Rent and the Extra Rent (as defined below) its pro rata share shall be collectively referred to in this Sublease as the “Rent”.
(based on the ratio of the square footage of the Premises b) Notwithstanding anything set forth herein to the square footage contrary, Sublessee shall be responsible for paying, as “Extra Rent,” for the cost of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Additional Rent shall increase from time to time based on increases set forth in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option Prime Lease that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts is required to be paid by Sublessor, excluding (i) any such Extra Rent relating solely to any portion of the Premises that does not include the Subleased Premises or which is solely for Sublessor’s benefit and (ii) any Extra Rent relating to Laboratory Support Expenses. For clarity, Sublessee, at its expense, shall be responsible to provide janitorial services, telecommunications, information technology, security and alarm systems to the Subleased Premises. Any systems that pertain to the foregoing that are installed by Sublessee under shall be removed at the end of Sublessee’s occupancy of the Subleased Premises Sublessor’s pro rata share of the Additional Rent for the Building is [16.60%], which is approximately [51.15%] of Sublessor’s pro rata share of the Additional Rent. For avoidance of doubt, Sublessee shall not be responsible to pay for any portion of Extra Rent relating to any time prior to the Rent Commencement Date.
(c) Sublessee shall begin paying Rent to Sublessor on the date that is one (1) month after the Commencement Date (the “Rent Commencement Date”), and shall not owe Rent to Sublessor for any period prior to the Rent Commencement Date. All monthly payments of Rent and Extra Rent are due and payable in advance on the first day of each calendar month, without demand, deduction, counterclaim or setoff, except as set forth or incorporated herein. Rent for any partial month shall be prorated and paid on the first business day of such month. Sublessee shall make all payments required by this Sublease other than by wire transfer.
(d) Upon the payment of any amount of the Building Allowance (as defined in the Work Letter) for the Improvements (as defined in the Work Letter), the annual Base Rent shall be deemed additional rentincreased by the total amount drawn by the Sublessee (the “Building Allowance Drawn”), amortized (without interest) on a straight-line basis over the balance of the Term commencing as of the Rent Commencement Date (the aggregate of which is hereinafter referred to as the “Aggregate Building Allowance Drawn”) such that the full amount of the Aggregate Building Allowance Drawn shall be reimbursed by the Sublessee to Sublessor as of the last regularly scheduled Base Rent payment of the Term.
Appears in 2 contracts
Samples: Sublease Agreement (CM Life Sciences III Inc.), Sublease Agreement (Surface Oncology, Inc.)
Rent. Sublessee (a) Tenant shall pay Sublessor to Landlord as rent rental for the Premises (“Base Rent”) its pro rata share (based on the ratio during each year of the square footage Term of this Lease the amount set forth in Section 1(h) hereof and the amount determined pursuant to Section 3(d) hereof during any extension period. Such rental shall be payable in advance, in equal monthly installments upon the first day of each and every month throughout the Term of this Lease; provided, however, that if the lease Term shall commence on a day other than the first day of a calendar month or shall end on a day other than the last day of a calendar month, the rental for such first or last fractional month shall be such proportion of the Premises monthly rental as the number of days in such fractional month bears to the square footage total number of days in the calendar month.
(b) Rent and all other charges hereunder shall promptly be paid without prior demand therefor and without deductions or setoffs for any reason whatsoever, except as expressly herein provided, and overdue rent and any other sums payable by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of interest equal to [***] in excess of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase Prime Rate” published from time to time based on increases in by The Wall Street Journal (hereinafter referred to as the base rent under the Master Lease“Interest Rate”). In addition, Sublessee if any payment of rent is not paid when due, Tenant shall pay, as and when due under the Master Lease, (a) its Pro Rata Share pay to Landlord a late charge equal to [***] of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee each late payment. Landlord shall have no obligation to pay any portion accept less than the full amount of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise all installments of any such early termination right or optionrental and interest thereon and all charges hereunder which are due and owing by Tenant to Landlord, and if Landlord shall accept less than the full amount owing, Landlord may apply the sums received towards any of Tenant’s obligations at Landlord’s discretion. Notwithstanding the foregoing, Tenant shall not be required to pay the late charge or the interest provided for therein on up to two (2) occasions during each calendar year, provided such payments are made to Landlord within ten (10) days after Tenant’s receipt of written notice that Sublessor reserves the right same are past due.
(c) Landlord’s failure to exercise timely xxxx Tenant shall in no way excuse Tenant from its payment obligations or constitute a waiver of Landlord’s entitlement to any such express early termination right or option held charges not timely billed by Sublessor Landlord.
(d) Tenant agrees that all Basic Rental and additional rent (collectively “Rent”) due under the Master this Lease notwithstanding anything shall be paid to Landlord by (i) check mailed to the contrary contained address set forth in this Sublease)Section 1 (o) hereof or such other address as Landlord shall designate by written notice to Tenant, and (bii) all costs directly incurred by wire transfer of immediately available funds, or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent(iii) electronic funds transfer.
Appears in 2 contracts
Samples: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Rent. Sublessee Except for delinquent rent, all rent under the Company's Leases and other income attributable to the Property shall pay Sublessor be apportioned on a per diem basis as of midnight on the date immediately preceding the Closing. All such rent and other income, including commissions earned, for the Premises (“Base Rent”) its pro rata share (based on period preceding the ratio Closing shall be deemed to be property of the square footage applicable Contributors, and all rent and other income for any period commencing as of the Premises Closing and thereafter shall be the property of BNP for the purpose of making the adjustments set forth herein. Amounts owed under this paragraph shall be paid to the square footage party to whom they are owed in cash at the Closing or during the Post-Closing Adjustment Period. Delinquent rent shall not be prorated, but shall be deemed the property of the Master Premises (its “Pro Rata Share”)) Contributors. Payments received by BNP from tenants of the rent payable under Property from and after the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease Closing with respect to the Shared Areas. Such amounts Property shall be applied first to rents and other amounts then due BNP from such tenant and payable within thirty (30) days then to such tenant's delinquent rent as of delivery by Landlord the time of an invoice therefor, without deduction apportionment. BNP shall use reasonable efforts to collect delinquent rents for the benefit of the Contributors but in no event shall be obligated to evict or offset xxx any tenants in order to collect such rents and without prior notice or demand, at shall cooperate with the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases Contributors in the base collection of any delinquent amounts; provided, however, that the Contributors shall not have any rights to evict such tenants for such delinquent amounts. Any amounts received by Contributors on account of rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under income for the Master Lease to terminate period after the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee Closing with respect to its use the Property and the related personal property shall be turned over to BNP for application in accordance with the terms of this paragraph. All accounts receivable, notes, cash and bank accounts of the Premises. All amounts required Company existing as of the Closing Date shall be transferred at Closing to be paid by Sublessee under this Sublease the appropriate Contributors, other than Base Rent shall be deemed additional rentthe remaining balance of any escrow accounts for tenant improvements and lease commissions held by the Company, the amount necessary to pay prorations of taxes, security deposits and amounts which belong to BNP after making the closing adjustments for rent and operating expenses.
Appears in 2 contracts
Samples: Exchange Agreement (BNP Residential Properties Inc), Exchange Agreement (BNP Residential Properties Inc)
Rent. Sublessee (a) Tenant shall pay Sublessor to Landlord, as annual rent for the Premises during the Term, the amounts determined in accordance with Exhibit “D” hereto (“Base Basic Rent”) its pro rata share (based ), commencing on the ratio date hereof for the initial month and thereafter, in advance on the date hereof, and continuing on the first day of each month during the Term (each such day being a “Basic Rent Payment Date”). Each such rental payment shall be made, at Landlord’s sole discretion, (i) by a check actually received by Landlord before the applicable Basic Rent Payment Date, or (ii) by wire transfer in Federal Funds on the applicable Basic Rent Payment Date. Pro rata Basic Rent for the initial month shall be paid on the date hereof
(b) Tenant shall pay and discharge, as additional rent (collectively, “Additional Rent”):
(i) except as otherwise specifically provided herein, all costs and expenses of Tenant, Landlord and any other Persons specifically referenced herein which are incurred in connection or associated with (A) the ownership, use, non-use, occupancy, monitoring, possession, operation, condition, design, construction, maintenance, alteration, repair or restoration of the square footage Premises, (B) the performance of any of Tenant’s obligations under this Lease, (C) any sale or other transfer of the Premises to Tenant under this Lease, including costs and expenses incurred in connection with the square footage payment of a Prepayment Premium, (D) any Condemnation proceedings, (E) the adjustment, settlement or compromise of any insurance claims involving or arising from any of the Master Premises Premises, (its “Pro Rata Share”)F) the prosecution, defense or settlement of any litigation involving or arising from any of the rent payable under the Master Premises, this Lease, together or, in accordance with an amount equal to Sublessee’s pro rata share (based on the ratio Agreement of square footage Purchase and Sale between the parties, the sale of the Premises to Landlord, (excluding G) the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)exercise or enforcement by Landlord, its successors and assigns, of the rent payable any of its rights under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master this Lease, (aH) its Pro Rata Share any amendment to or modification or termination of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master this Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or made at the request of Sublessee Tenant, (I) subject to, and included within the limitation set forth in Paragraph 25(a) the Costs of Landlord’s counsel incurred in connection with respect to the preparation, negotiation and execution of this Lease, and the Costs incurred in connection with any act undertaken by Landlord (or its use counsel) at the request of the Premises. All amounts Tenant, or incurred in connection with any act of Landlord performed on behalf of Tenant, and (J) any other items specifically required to be paid by Sublessee Tenant under this Sublease other than Lease;
(ii) after the date all or any portion of any installment of Rent is due and not paid by the applicable Basic Rent Payment Date, or date the same is due, an amount (the “Late Charge”) equal to five percent (5%) of the amount of such unpaid installment; except that the first Late Charge in any twelve (12) month period shall not be due and payable unless the amount due has not been received, in immediately available U.S. funds, within five (5) days following the Base Rent Payment Date;
(iii) a sum equal to any additional sums (including any late charge, default penalties, interest and fees of Lender’s counsel) which are payable by Landlord to any Lender under any Note by reason of Tenant’s late payment or non-payment of Basic Rent or by reason of an Event of Default; and
(iv) interest at the rate (the “Default Rate”) of five percent (5%) over the Prime Rate per annum on the following sums until paid in full: (A) all overdue installments of Basic Rent from the respective due dates thereof, (B) all overdue amounts of Additional Rent relating to obligations which Landlord shall have paid on behalf of Tenant, from the date of payment thereof by Landlord, and (C) all other overdue amounts of Additional Rent, from the date when any such amount becomes overdue, except that the first interest charge in any twelve (12) month period shall not be due and payable unless the amount due hasn’t been paid within five (5) days after the date due.
(c) Tenant shall pay and discharge (i) any Additional Rent referred to in Paragraph 6(b) when the same shall become due, provided that amounts which are billed to Landlord or any third party, but not to Tenant, shall be deemed additional rentpaid within ten (10) days after Landlord’s demand for payment thereof, and (ii) any other Additional Rent, within ten (10) days after Landlord’s demand for payment thereof.
(d) In no event shall amounts payable under this Lease exceed the maximum amount permitted by applicable Law.
Appears in 2 contracts
Samples: Lease Agreement (Pw Eagle Inc), Lease Agreement (Pw Eagle Inc)
Rent. Sublessee shall A. Sub-Subtenant covenants and agrees to pay Sublessor to Sub-Sublandlord rent (herein referred to as rent for the Premises (“Base Fixed Rent”) its pro rata share for the Sub-Sublet Premises as follows: $414,943.00 per annum, payable in equal monthly installments of $34,578.58 for the period (based hereinafter referred to as the “Rent Period”) commencing seven (7) months after the Sub-Sublease Commencement Date (hereinafter referred to as the “Sub-Sublease Rent Commencement Date”) and ending on December 29, 2009. Monthly installments of Fixed Rent shall be payable in advance on the ratio first day of each calendar month.
B. Fixed Rent and all other amounts payable by Sub-Subtenant to Sub-Sublandlord under the provisions of this Sub-Sublease (herein referred to as the “Additional Rent”) shall be paid promptly when due, without notice or demand therefore except as expressly provided in this Sub-Sublease, and without deduction, abatement, counterclaim or setoff of any amount or for any reason whatsoever. Fixed Rent and Additional Rent shall be paid to Sub-Sublandlord in lawful money of the square footage United States at the address of Sub-Sublandlord set forth in Article 17 of this Sub-Sublease or to such other person and/or at such other address as Sub-Sublandlord may from time to time designate by notice to Sub-Subtenant as provided for herein. Any Fixed Rent or Additional Rent payable for less than a full month shall be pro-rated. No payment by Sub-Subtenant or receipt by Sub-Sublandlord of any lesser amount than the amount stipulated to be paid hereunder shall be deemed other than on account of the Premises earliest stipulated Fixed Rent or Additional Rent; nor shall any endorsement or statement on any check or letter be deemed an accord and satisfaction, and Sub-Sublandlord may accept any check or payment without prejudice to Sub-Sublandlord’s right to recover the balance due or to pursue any other remedy available to Sub-Sublandlord. Any provision in the Prime Sublease or the Prime Lease referring to rent, increases in rent or additional rent incorporated herein by reference shall be deemed to refer to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable Fixed Rent and Additional Rent due under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within this Sub-Sublease.
C. Within thirty (30) days of delivery by Landlord receipt of an invoice therefortherefor from Sub-Sublandlord, Sub-Subtenant shall pay any payment on account of Additional Rent, including without deduction or offset and without prior notice or demand, at the address indicated by Sublessor limitation payment on account of Tax Payments (as defined in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, Section 3.02 (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term Prime Lease) and payments on account of Operating Payments (as defined in Section 3.03(a) of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this SubleasePrime Lease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All The amounts required to be paid by Sublessee under this Sublease other than Base Rent Sub-Subtenant shall be deemed additional rent.calculated in accordance with Article 3 of the Prime Lease, except that (i) the term “Base Operating Year” as set forth in Section 3.01(a) of the Prime Lease (as modified by Paragraph 5(b) of the First Supplemental Agreement with respect to the Premises and Paragraph 4(a) of the Prime Sublease with respect to the Original Sublet Premises) shall mean the calendar year commencing on January 1, 2003 and ending on December 31, 2003; (ii) the term “Base Tax Amount” as set forth in Section 3.01(c) of the Prime Lease (as modified by Paragraph 5(b) of the First Supplemental Agreement with respect to the Premises and Paragraph 4(a) of the Prime Sublease with respect to the Original Sublet Premises) shall mean one-half of the sum of (x) the Taxes for the Tax Year commencing July 1, 2002 and (y) the Taxes for the Tax Year commencing July 1, 2003, both as finally
Appears in 2 contracts
Samples: Sub Sublease Agreement, Sub Sublease Agreement (Arch Capital Group LTD)
Rent. Sublessee shall (a) Tenant covenants to pay Sublessor to Landlord, as rent for the Premises during the Interim Term, the Primary Term and each Extended Term of this Lease (“Base if Tenant extends the Term in accordance with Paragraph 4) the amounts set forth on EXHIBIT 5 attached hereto (herein called the "Basic Rent”") its pro rata share (based in monthly installments, in advance, on the ratio first day of each calendar month (herein called the square footage "BASIC RENT PAYMENT DATES") by wire or other electronic transfer of the Premises immediately available funds to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time set forth above or to time. Such Base Rent shall increase such other person or such other place or account as Landlord from time to time based on increases may designate to Tenant in the base rent under the Master Lease. In additionwriting; provided, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of Landlord may designate to Tenant in writing that all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration not less than all of the then-scheduled term of the Master Lease monthly Basic Rent be paid directly to a Mortgagee (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties as defined in Subparagraph 23(a)) or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and an institutional payment agent.
(b) Tenant covenants that all costs directly incurred other amounts, liabilities and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease together with every fine, penalty, interest and cost which may be added for nonpayment or late payment thereof, shall constitute additional rent hereunder (herein called "ADDITIONAL RENT"). In the event of any failure by Tenant to pay or discharge any Additional Rent, Landlord shall have all rights, powers and remedies provided herein or by law in the case of nonpayment of Basic Rent. Tenant further covenants to pay to Landlord on demand interest on all Basic Rent and Additional Rent due to Landlord from the date due until such amount is paid in full at the request per annum rate of Sublessee with respect interest (the "DEFAULT RATE") equal to its use the annual "prime rate" identified in the "Money Rates" column in the Wall Street Journal (the "PRIME RATE") plus four percent (4%), but in no event shall the Default Rate exceed the maximum rate permitted by law. If the Wall Street Journal is no longer published or the Wall Street Journal discontinues publication of the Premises. All amounts required "prime rate," then Landlord shall designate a reasonably comparable source to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentidentify the Prime Rate.
Appears in 2 contracts
Samples: Lease Agreement (Radioshack Corp), Purchase and Sale Agreement (Radioshack Corp)
Rent. Sublessee (a) Notwithstanding anything in the Amended Lease to the contrary, Tenant shall pay Sublessor as rent to Landlord all Rent and all other sums due under the Lease by electronic wire transfer. Electronic wire transfer payments shall be made to Capital One Bank, 0000 Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, for the Premises benefit of 233 X. Xxxxxx LLC, ABA #000000000, Account No. 2744061249 (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”FEIN #00-0000000)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase may from time to time based on increases designate in writing alternate payment directions and, in such event, payments shall be made at such other place as so directed.
(b) Subject to the remainder of this Section 5 and other terms and conditions set forth in this Eighth Amendment, it is agreed that
(i) through September 30, 2014, Tenant shall continue to pay Rent as set forth in the base rent Amended Lease,
(ii) from and after October 1, 2014, Tenant shall
(x) pay Base Rent in accordance with Exhibit B attached hereto and made a part hereof (which Base Rent is calculated on 53,894 square feet of Rentable Area notwithstanding Tenant’s occupancy during a portion of such period of the Existing Premises (containing 80,612 square feet of Rentable Area)); and
(y) pay Additional Rent in accordance with the terms of the Lease but Tenant’s Proportionate Share for purposes of determining Taxes payable by Tenant under the Master Lease shall be 1.5265%, and Tenant’s Proportionate Share for purposes of determining Operating Expense payable by Tenant under the Lease shall be 1.6406% (which calculations are calculated on 53,894 square feet of Rentable Area notwithstanding Tenant’s occupancy during a portion of such period of the Existing Premises (containing 80,612 square feet of Rentable Area)).
(c) All Rent shall be paid in the same manner and time as set forth in Sections 2 and 3 of the Amended Lease. Landlord agrees that, subject to the remainder of this Section 5, Tenant’s Proportionate Share shall be adjusted proportionately, only if the number of square feet of Rentable Area in the Premises is increased or decreased following the Surrender Date or if the aggregate amount of office or retail space in the Building is either increased or decreased.
(d) Notwithstanding anything herein or in the Amended Lease (including, without limitation, Section 17 of the Original Lease) to the contrary, but subject to the provisions of the remainder of this Section 5(d), in the event Tenant fails to surrender all or a portion of the Existing Premises as provided in Section 4 above on or before the Outside Delivery Date, Tenant shall pay Rent for both the total square footage in the entire Existing Premises (being 80,612 square feet) and the total square footage in the 49th Floor Premises (being 53,894 square feet) during the period commencing on the Outside Delivery Date and continuing during the period that Tenant retains possession of all or a portion of the Existing Premises and the 49th Floor Premises. In such case, (x) the Base Rent for both the Existing Premises and the 49th Floor Premises shall be computed at the per square foot rental rates set forth on Exhibit B attached hereto (y) Additional Rent for the 49th Floor Premises shall be computed utilizing the Proportionate Shares set forth above and (z) Additional Rent for the Existing Premises shall be computed utilizing the Proportionate Shares for the Existing Premises set forth in the Amended Lease. In addition, Sublessee if Landlord notifies Tenant in writing that Tenant’s failure to surrender the Existing Premises as provided in Section 4 above may, in Landlord’s good faith judgment, result in Landlord incurring damages, and Tenant fails to surrender all of the Existing Premises within ten (10) days of receipt of Landlord’s notice, then (x) the Base Rent and Additional Rent for all of the Existing Premises shall paybe charged at 200% of the amounts set forth above in this Section 5(d), and Tenant shall be liable to Landlord for all damages, costs and expenses (including, without limitation, consequential damages) incurred as a result of such holdover, including without limitation, any losses from Landlord’s inability to timely fulfill its obligations to any subsequent tenants of the Premises or portions thereof. The provisions of this Section shall not be deemed to be a waiver of Landlord’s right to re-entry or right to regain possession by actions at law or in equity, and when any receipt of payment of the foregoing rent by Landlord shall not be deemed a consent by Landlord to Tenant’s remaining in possession or be construed as creating or renewing any lease term or right of tenancy.
(e) If Tenant has surrendered the Existing Premises as provided herein, and if Tenant is not in Default under the Lease on the date any such installment is due, each of the monthly installments of Base Rent and Additional Rent due under the Master LeaseLease for the months of October 2015, October 2016, October 2017, October 2018, October 2019 and October 2020 shall be abated in full and shall not be payable by Tenant (a) its Pro Rata Share the “Extension Term Rent Abatement”). The unamortized portion of all operating expenses, taxes, insurance the Extension Term Rent Abatement shall become due and other costs payable owing to Landlord in the event of a Default under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.
Appears in 2 contracts
Samples: Lease Amendment, Lease Amendment (Heidrick & Struggles International Inc)
Rent. Sublessee The Site Lessee shall pay Sublessor to the Site Lessor on June 1 and December 1 of each year during the Initial Term, twenty-nine thousand ninety-seven DOLLARS ($29,097) as rent for (the Premises (“Base Site Rent”) its pro rata share for the semi-annual period ending on such date (based on a total of $58,194 annually), provided that the ratio first payment of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Site Rent shall be due payable on December 1, 2007 and payable within thirty (30) days of delivery by Landlord of an invoice thereforshall be prorated from the Closing Date to December 1, without deduction or offset 2007. For the period from and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to after the expiration of the then-scheduled term Initial Term to the end of the Master Lease (it being understood that Sublessee shall have no obligation Term, the Site Lessee agrees to pay to the Site Lessor annual rent equal to the annual Fair Market Rental Value of the Ground Interest, which value shall be determined as if the Facility Site were unimproved and unencumbered by any portion mortgage, deed of trust or other lien or encumbrance (other than this Site Lease, Permitted Encumbrances and Permitted Liens) for such period. Such Fair Market Rental Value shall be determined on the expiration of the Initial Term and again on the first day of any Renewal Site Lease Term for the year or years thereafter through the remaining Term by agreement of the parties or, if they shall fail to agree, by the Appraisal Procedure, the costs of which shall be shared equally by the Site Lessor and the Site Lessee. Such annual rent shall be payable in arrears on each June 1 and December 1 from and after the last day of the Initial Term during the Term, provided that the first payment of Site Rent under such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise circumstances shall be prorated from the last day of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything Initial Term to the contrary contained in this Sublease)next occurring payment date set forth above and, and (b) all costs directly incurred by or at provided, further, that any Site Rent for any partial semi-annual period during which the request of Sublessee with respect to its use last day of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent Term occurs shall be deemed additional rentprorated. Such proration shall, in each case, be on the basis of the actual number of days in the applicable semi-annual period.
Appears in 2 contracts
Samples: Site Lease, Site Lease (Firstenergy Corp)
Rent. Sublessee shall pay Sublessor as To the extent collected by Sellers prior to Closing, the “minimum” or “base” rent paid by tenants under the Assignable Leases for the Premises (“Base Rent”) its pro rata share (based calendar month in which the Closing occurs shall be prorated between Purchaser and Sellers on the ratio basis of the square footage number of days of such month the Property will have been owned by Purchaser and Sellers, respectively. There shall be no proration of any rent which is delinquent as of the Premises Closing Date. Rent collected on or after the Closing Date shall be applied first to the square footage month of Closing, then to any delinquency existing for the Master Premises (its “Pro Rata Share”)) of period thereafter and then to any delinquency for the period prior to Closing. Purchaser shall cause any rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) applicable to the square footage period prior to Closing to be remitted to Sellers if, as, and when collected. At Closing, Sellers shall deliver to Purchaser a schedule of all delinquent rent. In the Master Premises (excluding event any delinquent rent is omitted from such schedule, Sellers shall not be deemed to have waived their rights to such rent. Purchaser shall include the Shared Areas), amount of delinquent rent in the rent payable under the Master Lease with respect first bills thereafter submitted to the Shared Areastenants in question after the Closing, and shall continue to do so for three (3) months thereafter. Such amounts Purchaser shall promptly deliver to Sellers a copy of each such xxxx submitted to tenants. After such three (3) month period following Closing, provided Sellers have obtained Purchaser’s prior consent, which consent may be due withheld in Purchaser’s sole and payable within thirty (30) days of delivery by Landlord of an invoice thereforabsolute discretion, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master LeaseSellers may pursue remedies directly against delinquent tenants, but specifically excluding any fees, costs, charges may not xxx to evict or other consideration paid or payable by Sublessor to Master Lessor otherwise dispossess such tenants. Any percentage rent collected in connection with Sublessor’s exercise of any termination right or option that Sublessor may Assignable Leases shall not be prorated at Closing but shall be prorated after the applicable lease year is over and total revenues and breakpoint have been reconciled under the Master Lease to terminate applicable Assignable Lease, with such revenues and breakpoint allocated evenly over the Master Lease prior year in which Closing occurs on a daily basis and any amount payable from one party to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee other shall have no obligation to pay any portion of any be paid promptly after such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor reconciliation is required under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentapplicable Assignable Lease.
Appears in 2 contracts
Samples: Real Estate Sale Agreement, Real Estate Sale Agreement (Equity Commonwealth)
Rent. Sublessee 3.1. The rent ("Rent") payable during the Term under this Lease shall pay Sublessor as rent for consist of the Premises following:
(“a) the Base Rent”, as defined in Schedule C hereto.
(b) its pro rata share additional rent (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)"Additional Rent") of the rent payable under the Master Lease, together with in an amount equal to Sublessee’s pro rata share any and all other sums payable by Lessee to Lessor under this Lease.
3.2. Except as otherwise specifically provided in this Lease (based on the ratio a) all payments of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time be in equal monthly installments and shall be made in advance on the first (1st) day of each month during the Term, without notice (provided that if the amount of Base Rent is required to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable be calculated by Sublessor to Master Lessor in connection accordance with Sublessor’s exercise Schedule C hereof, then Lessor shall give Lessee prior written notice of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration such calculation, which notice shall include an explanation of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any basis for such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, calculation and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Subleasereasonable backup documentation relating thereto), and (b) all costs directly incurred payments of Additional Rent shall be made within 30 days after written notice from Lessor, in each case by check payable to the order of "XXXXXX XXXXXXXXXXX" and addressed to Xxxxxx Xxxxxxxxxxx, X.X. Xxx 000, Xxxx Xxxx, Pennsylvania 19424-0003, Attention: Disbursement & Control Dept., or to such other person or at such other place as Lessor may from time to time designate in writing.
3.3. Lessee shall pay all Rent when due, in lawful money of the request United States which shall be legal tender for the payment of Sublessee all debts, public and private, at the time of payment. All sums due and payable by Lessor or Lessee pursuant to the terms of this Lease that are not paid within five (5) days of the due date therefor shall from and after the due date bear interest at an annual percentage rate of ten percent (10%). All interest accrued and payable by Lessee under this subsection as hereinabove provided shall be deemed to be Additional Rent payable hereunder and due at such time or times as the rent with respect to which such interest shall have accrued shall be payable under this Lease.
3.4. Lessee agrees to pay, an Additional Rent, any revenue tax or charge, occupancy tax, business privilege tax, business use tax or any other tax that may be levied against the Demised Premises or Lessee's use or occupancy thereof during the Term; provided, however, that in no event shall Lessee be obligated to pay any income tax that is imposed upon and/or payable by Lessor, and provided further that payments made by Lessee pursuant to this Section 3.4 shall not be duplicative of amounts paid by Lessee pursuant to any other provision of this Lease.
3.5. In the event that Lessee shall dispute any calculation of Rent charged to Lessee by Lessor, then Lessee shall send to Lessor a written notice, within 30 days of receipt by Lessee of such charge, setting forth the basis for Lessee's dispute. Lessor and Lessee shall thereupon use reasonable and good faith efforts to resolve such dispute. If the parties are unable to resolve such dispute within 30 days after submission by Lessee of its use dispute notice, then the parties shall designate an independent certified public accountant mutually acceptable to both parties (the "Independent Accountant") to resolve such dispute and the fees and charges of the PremisesIndependent Accountant shall be shared equally by the parties. Both parties shall provide the Independent Accountant with all information reasonably requested by the Independent Accountant in connection with its review of such dispute, and both parties shall request that the Independent Accountant complete its work expeditiously and issue a written report to both parties setting forth its determination. The written determination of the Independent Accountant shall be final and shall be binding upon both Lessor and Lessee. All amounts required disputes to be paid resolved pursuant to this Section 3.5 shall be so resolved in accordance with the principles and standards set forth in Section 3.6 below.
3.6. All calculations by Sublessee Lessor of Base Rent, Additional Rent and any other amounts that are payable by Lessee hereunder shall be made in accordance with Lessor's past practices during calendar year 1994 with respect to Defense Systems, and all charges and allocations relating to the Demised Premises and all accounting practices utilized by Lessor with respect to amounts charged to Lessee under this Sublease other than Base Rent Lease (including the capitalization, amortization and expensing of costs incurred and funds expended) shall also be deemed additional rentmade in such manner.
Appears in 2 contracts
Samples: Assignment and Assumption of Lease (Southern California Microwave Inc), Assignment and Assumption of Lease (Southern California Microwave Inc)
Rent. Sublessee shall 5.1 Tenant agrees to pay Sublessor Landlord as rent Basic Annual Rent for the Premises the sums set forth in Section 2.1.4, subject to adjustment as set forth in Section 8.3. Basic Annual Rent shall be paid in the equal monthly installments set forth in Section 2.1.5, subject to adjustment as set forth in Section 8.3, each in advance on the first day of each and every calendar month during the term of this Lease. Basic Annual Rent shall not be payable, and shall be forgiven, for the period May 24, 2004 through January 23, 2005.
5.2 In addition to Basic Annual Rent, Tenant agrees to pay to Landlord as additional rent (“Base Additional Rent”), at the times hereinafter specified in this Lease (i) its pro rata share Tenant’s Pro Rata Share (based as defined in Section 7.3(a) and as set forth in Section 2.1.6, subject to adjustment pursuant to Section 8.1) of Operating Expenses as provided in Article 7, and (ii) all other amounts that Tenant assumes or agrees to pay under the provisions of this Lease, including but not limited to any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, and Landlord’s performance of any obligations of Tenant under this Lease.
5.3 Basic Annual Rent and Additional Rent shall together be denominated “Rent.” Except as expressly set forth in this Lease, Rent shall be paid to Landlord, without notice, demand, abatement, suspension, deduction, setoff, counterclaim, or defense, in lawful money of the United States of America, at the office of Landlord as set forth in Section 2.1.9 or to such other person or at such other place as Landlord may from time to time designate in writing.
5.4 In the event the term of this Lease commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the ratio basis of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within a thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset day month and without prior notice or demand, shall be paid at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease then current rate for such fractional month prior to the expiration commencement of the then-scheduled term partial month.
5.5 The installment of Basic Annual Rent for the period May 1, 2005 through May 31, 2005 in the amount of $67,145 shall be deposited with Landlord by Tenant upon execution of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or optionLease, and that Sublessor reserves the right to exercise any such express early termination right or option shall be held by Sublessor Landlord as an additional security deposit under the Master Lease notwithstanding anything Article 9 hereof unless and until applied to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Basic Annual Rent shall be deemed additional rentfor such period.
Appears in 2 contracts
Samples: Lease (Biocept Inc), Lease (Biocept Inc)
Rent. Sublessee (a) The Tenant shall pay Sublessor to the Landlord as rent Base Rent, in legal tender, at the Landlord’s office as set forth in Exhibit “B”, or as directed from time to time by Landlord’s notice, the annual amount set forth in Exhibit “B” payable in equal monthly payments as set forth in Exhibit “B” promptly on the first day of every calendar month of the term, except for the Premises first month’s rent which is due and payable on execution of this Lease, and pro rata, in advance for any partial month, without demand, the same being hereby waived and without any set-off or deduction whatsoever. For any rent payment not made when due, Tenant shall pay — except as otherwise provided for herein — a late charge equal to the greater of: i) $100.00 or ii) ten percent (10%) of the overdue amount. The parties agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of such late payment. The covenants herein to pay a late charge shall be independent of any other covenant set forth in this Lease and shall be paid without deduction or set-off.
(b) It is understood that the Base Rent specified in Paragraph (a) was negotiated in anticipation that the amount of Operating Expenses on the Property would not exceed $271,970.00 during any calendar year of the term hereof. Therefore, in order that the rental payable throughout the term of the Lease shall reflect any increase in such costs, the parties agree as hereinafter in this Section set forth. The annual Base Rent payable pursuant to Paragraph (a) as increased pursuant to Paragraph (b) of this Section is hereinafter called the “Base Rent”) its . Certain terms are defined as follows: Tenant’s Share: The amount of Tenant’s pro rata share of the increase in Taxes and Operating Expenses over $271,970.00 during each calendar year. Tenant’s pro rata share of such increase is agreed to be 10%.
(based A) Operating Expenses shall consist of all expenses, costs and disbursements (but not specific costs billed to specific tenants of the Property) of every kind and nature, computed on the ratio accrual basis, relating to or incurred or paid in connection with the ownership and operation of the square footage Property, including but not limited to, the following:
(i) wages and salaries of all on and off-site employees engaged in the operation, maintenance or access control of the Premises Property, including taxes, insurance and benefits relating to such employees, allocated based upon the time such employees are engaged directly in providing such services;
(ii) all supplies, tools, equipment and materials used in the operation and maintenance of the Property;
(iii) cost of all utilities for the Property including but not limited to the square footage cost of water and power for heating, lighting, air conditioning and ventilating in the common areas;
(iv) cost of all maintenance and service agreements for the Property and the equipment therein, including but not limited to security service, garage operators, window cleaning, elevator maintenance, janitorial service and landscaping maintenance;
(v) cost of management, not to exceed five per cent (5%), of actual base rent received;
(vi) cost of repairs and general maintenance of the Master Premises Property (its “Pro Rata Share”excluding repairs, alterations and general maintenance paid by proceeds of insurance or attributable solely to tenants of the Property other than Tenant);
(vii) amortization (together with reasonable financing charges) of the rent payable under cost of installation of capital investment items which are installed for the Master purpose of reducing operating expenses, promoting safety, complying with governmental requirements or maintaining the first class nature of the Property, other than capital items installed in connection with Lessor’s initial construction of the Property;
(viii) the cost of all insurance on the Property, including, but not limited to, the cost of casualty, rental abatement and liability insurance applicable to the Property and Lessor’s personal property used in connection therewith; and
(ix) all taxes, assessments and governmental charges, whether or not directly paid by Lessor, whether federal, state, county or municipal and whether they be by taxing districts or authorities presently taxing the Property or by other subsequently created or otherwise, and any other taxes and assessments attributable to the Property or its operation, excluding, however, federal and state taxes on income, death taxes, franchise taxes, and any taxes imposed or measured on or by the income of Lessor from the operation of the Property or imposed in connection with any change of ownership of the Property; provided, however, that if at any time during the term of this Lease, together with the present method of taxation or assessment shall be so changed that the whole or any part of the taxes, assessments, levies, impositions or charges now levied, assessed or imposed on real estate and the improvements thereof shall be discontinued and as a substitute therefor, or in lieu of an addition thereto, taxes, assessments, levies, impositions or charges shall be levied, assessed and/or imposed wholly or partially as a capital levy or otherwise on the rents received from the Property or the rents reserved herein or any part thereof, then such substitute or additional taxes, assessments, levies, impositions or charges, to the extent so levied, assessed or imposed, shall be deemed to be included within the operating expenses to the extent that such substitute or additional tax would be payable if the Property were the only property of the Lessor subject to such tax.
(B) In order to provide for current payments on account of an increase in the annual Operating Expenses in excess of $271,970.00, the Tenant agrees, at Landlord’s request, to pay, as additional rent, Tenant’s Share due for the ensuing twelve (12) months, as estimated by Landlord from time to time, in twelve (12) monthly installments, each in an amount equal to Sublessee1/12th of Tenant’s pro rata share Share so estimated by Landlord commencing on the first day of the month following the month, in which Landlord notifies Tenant of the amount of such estimated Tenant’s Share. If, as finally determined, Tenant’s Share shall be greater than or be less than the aggregate of all installments so paid on account to the Landlord for such twelve (12) month period, then Tenant shall pay to Landlord the amount of such underpayment, or the Landlord shall credit Tenant for the amount of such overpayment, as the case may be. It is the intention hereunder to estimate the amount of Operating Expenses for each year and then to adjust such estimate in the following year based on the ratio of square footage actual Operating Expenses incurred and/or paid by Landlord. The obligation of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease Tenant with respect to the Shared Areaspayment of Rent shall survive the termination of this Lease. Such amounts Any payment, refund, or credit made pursuant to this Paragraph (b) shall be made without prejudice to any right of the Tenant to dispute the statement under Paragraph (d) of this Section, or of the Landlord to correct, any item(s) as billed pursuant to the provisions hereof. If the term remaining is less than a full calendar year, then Tenant shall only owe the increase in the Operating Expenses for the full year appropriately adjusted for the period remaining in the Tenant’s Term.
(C) Upon receipt of the Landlord’s statement, Tenant does hereby covenant and agree promptly to pay the increases in Rent pursuant to Paragraph (b) of this Section as and when the same shall become due and payable payable, without further demand therefore, and without any set-off or deduction whatsoever. Failure to give such statement shall not constitute a waiver by Landlord of its right to require an increase in Rent pursuant to the provisions hereof.
(D) Within thirty (30) days after receipt of such statement, Tenant or its authorized employee shall have the right to inspect the books of Landlord at reasonable times during the business hours of Landlord at Landlord’s office in the Building or, at Landlord’s option, at such other location that Landlord may specify, for the purpose of verifying information in such statement. Unless Tenant asserts specific errors within thirty (30) days after delivery of delivery by Landlord of an invoice thereforsuch statement, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time statement shall be deemed to timebe correct. Such inspection or audit shall be conducted by Tenant or tenant’s employee or Tenant’s auditor; but in no event shall the audit be conducted by a third party whose compensation is contingent upon the results of such audit or the amount of any refund received by Tenant. Tenant hereby agrees to keep the results of any such audit confidential and to require Tenant’s auditor and its employees and each of their respective attorneys and advisors to likewise keep the results of such audit in strictest confidence. In particular, but without limitation, Tenant agrees that: (i) Tenant shall not disclose the results of any such audit to any past, current, or prospective tenant of the Property, and (ii) Tenant shall require, that its auditors, attorneys and anyone associated with such parties shall not disclose the results of such audit to any past, current or prospective tenant in the Property; provided, however, that Landlord hereby agrees that nothing in items (i) or (ii) above shall preclude Tenant from disclosing the results of such audit in any judicial proceeding, or pursuant to any court order or discovery request, or to any agent, representative, or employee or Landlord who or which request the same.
(E) No decrease in Operating Expenses shall reduce Tenant’s Rent below the annual Base Rent shall increase from time to time based on increases set forth in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, Paragraph (a) its Pro Rata Share of all operating expenses, taxes, insurance this Section.
(F) All costs and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges expenses which Tenant assumes or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation agrees to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Landlord pursuant to this Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentrent and, in the event of non-payment thereof, Landlord shall have all the rights and remedies herein provided for in case of non-payment of Rent.
Appears in 2 contracts
Samples: Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc)
Rent. Sublessee Tenant covenants and agrees that without demand, notice or set off, except as otherwise expressly provided herein, Tenant shall pay Sublessor to Landlord minimum annual rental (hereinafter the "Minimum Rental") and percentage rental ("Percentage Rental") in the amounts as rent follows: Minimum Rental in the amount of [***] per square foot or [***] per annum, payable in equal monthly installments of [***] per month in advance on or before the first day of each month for Years [***]. Minimum Rent in the Premises (“Base Rent”) its pro rata share (based amount of [***] per square foot or [***] per annum, payable in equal monthly installments of [***] per month is due in advance on or before the ratio first day of each month for Years [***]. Either party shall have the square footage right to request a remeasurement of the Premises on written notice to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable other party given within thirty (30) days of delivery after the Commencement Date and naming the architect or engineer it will have do the remeasurement. Upon fifteen (15) days prior written notice, the other party shall identify its architect or engineer, and the architects or engineers identified by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at both parties shall jointly measure the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases leasable square footage contained in the base rent under Premises. If the Master Leaseleasable square footage as so remeasured is less than that set forth in Part 1 hereof, then the leasable square footage as stated herein shall be revised and Minimum Rental shall be reduced accordingly, by an amount not to exceed [***] of the stated square footage and the Percentage Rental Breakpoint (as hereinafter defined) shall be proportionately adjusted. In additionIf the leasable square footage as so remeasured is greater than that set forth in Part 1 hereof, Sublessee then the leasable square footage as stated herein shall paybe revised and the Minimum Rental shall be increased accordingly, as by an amount not to exceed [***] of the stated square footage and when due under the Master Lease, (a) its Pro Rata Share Percentage Rental Breakpoint shall be proportionately adjusted. Leasable square footage shall be measured from the exterior faces of all operating expenses, taxes, insurance outside walls and other costs payable under from the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise center of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding all party walls. Notwithstanding anything to the contrary contained herein, in this Sublease)no event shall the leasable square footage of the Premises be less than [***] of the square footage as stated in Part 1 hereof. Tenant shall further pay to Landlord Percentage Rental of [***] of annual Sales and Business Transacted (as defined in the General Lease Provisions) in excess of [***] (the "Percentage Rental Breakpoint") per Lease Year (as herein defined) for Years [***], and [***] of annual Sales and Business Transacted in excess of [***] per Lease Year for Years [***]. *** Confidential treatment requested. 5 All rental payments and payments of Additional Charges (bas defined in Exhibit B) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent hereunder shall be deemed additional rentsent to: Peabody Place Centre, L.P. Attn: Accounts Receivable Department P. O. Box 0000 Xxxxxxx, Xxxxxxxxx 00000-0000 or to such other addresses as Landlord may direct from time to time.
Appears in 2 contracts
Samples: Retail Lease Agreement (Silicon Entertainment Inc /Ca/), Retail Lease Agreement (Silicon Entertainment Inc /Ca/)
Rent. Sublessee (a) The Rent (hereinafter defined) payable by Tenant pursuant to this Lease is intended to be absolutely and completely net to Landlord, and all charges and expenses imposed upon the Premises incurred in connection with its ownership, use, occupancy, care, maintenance, operation and control, whether foreseen or unforeseen, regardless of the nature of such expenses or the remaining period of the Term, shall be paid by Tenant, except that Landlord shall pay Sublessor as rent its own income taxes, if any, on the Fixed Rent and Additional Rent (hereinafter defined) payable hereunder.
(b) The Rent reserved under this Lease for the Premises Term hereof shall be and consist of (a) the Fixed Rent payable in equal monthly installments in advance, on the first day of each and every calendar month during the Term (except that Tenant shall pay the first monthly installment upon signing this Lease); plus (b) such additional rent and other charges (“Base Additional Rent”) its pro rata share (based on as are due and payable pursuant to this Lease, which Additional Rent shall be payable as hereinafter provided, all to be paid directly to the ratio applicable party, in lawful money of the square footage United States of the Premises America (hereinafter Fixed Rent and Additional Rent are sometimes collectively referred to the square footage of the Master Premises (its as “Pro Rata ShareRent.”).
(c) of Tenant does hereby covenant and agree promptly to pay the rent Fixed Rent and Additional Rent herein reserved as and when the same shall become due and payable, without demand therefor, and without any set-off or deduction whatsoever. All Additional Rent which is not due and payable under on a monthly basis during the Master LeaseTerm, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)unless otherwise specified herein, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable, (i) if payable to a third party, within the time permitted for payment without interest, penalty or default, (ii) if payable to Landlord without specific payment terms set forth herein, within thirty (30) days of delivery by Landlord to Tenant of an invoice therefornotice to pay the same, without deduction and (iii) if payable to Landlord in a specific time or offset and without prior notice manner set forth herein, in accordance therewith.
(d) In the event that any payment of Fixed Rent or demandAdditional Rent payable to Landlord shall be paid after the due date for same provided herein, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee Tenant shall pay, as together with such payment, the Late Charge and when due under a like additional Late Charge for each thirty (30) days or portion thereof that such payment shall remain unpaid. Notwithstanding the Master Leaseforegoing, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee Tenant shall have no obligation not be required to pay a late charge on the first or second late payment in any portion period of any twelve (12) consecutive months, unless such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right payments remain unpaid for ten (10) days after written notice to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentTenant.
Appears in 2 contracts
Rent. Sublessee (a) At the Closing provided for under the Agreement to Lease, Lessee shall pay Sublessor Lessor as provided in the Agreement to Lease * as prepaid rent for (the Premises (“Base Prepaid Rent”).
(b) its pro rata share (based During the Initial Term, and subject to Section 2.5 of the Agreement to Lease, Lessee will pay to Lessor on the ratio last Business Day of each Quarter the fixed payment set forth on Schedule 1 for such Quarter (the “Initial Term Fixed Rent Payments”). The Initial Term Fixed Rent Payments shall be payable through the end of the square footage Initial Term notwithstanding any termination of this Lease (and the obligation to make all such Initial Term Fixed Rent Payments will be treated as having been incurred at the inception of the Premises Initial Term), except for a termination pursuant to Section 3.1(e). In the event that this Lease is terminated pursuant to Section 3.1(e) prior to the square footage end of the Master Premises (its “Pro Rata Share”)) Initial Term, no further Initial Term Fixed Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease Initial Term Fixed Rent Payment due with respect to the Shared AreasQuarter in which this Lease is terminated.
(c) During each Renewal Term, Lessee will pay to Lessor on the last Business Day of each Quarter the fixed payment set forth on Schedule 1 for such Quarter (the “Renewal Term Fixed Rent Payments”). Such amounts The Renewal Term Fixed Rent Payments shall be due payable through the end of the applicable Renewal Term notwithstanding any termination of this Lease (and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, the obligation to make all such Renewal Term Fixed Rent Payments will be treated as having been incurred at the address indicated by Sublessor in writing from time inception of the Renewal Term), except for a termination pursuant to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master LeaseSection 3.1(e). In addition, Sublessee shall pay, as and when due under the Master Lease, (aevent that this Lease is terminated pursuant to Section 3.1(e) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration end of the thenapplicable Renewal Term, no further Renewal Term Fixed Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-scheduled term rated amount of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee Renewal Term Fixed Rent Payment dues with respect to its use of the Premises. All amounts required to be paid by Sublessee under Quarter in which this Sublease other than Base Rent shall be deemed additional rentLease is terminated.
Appears in 2 contracts
Samples: Equipment Lease (Ada-Es Inc), Equipment Lease (Ada-Es Inc)
Rent. Sublessee Commencing on the Lease Commencement Date, Tenant covenants and agrees to pay to Landlord in lawful money of the United States of America, during each lease year, an annual rental in the amount of Two Hundred Forty Thousand and No/ 100 Dollars ($240,000.00) (the "Rent") payable in equal monthly installments of Twenty Thousand and No/100 Dollars ($20,000.00) each, in advance on or before the first day of each and every calendar month during the Term of this Lease. Commencing on the Delivery Date (as defined in Section 2.3 hereof), the Rent previously referenced in this Lease shall pay Sublessor as rent for be deleted and, in lieu thereof, the Rent shall be calculated by taking the actual costs incurred by Landlord to purchase the Premises (“Base Rent”) its pro rata share (based on i.e., the ratio cost of the square footage building and the land, which amount Landlord represents is $585,000.00) and adding thereto the cost incurred in by Landlord in connection with renovating the Premises to convert the Premises into a NationsRent store in accordance with Section 2.4 hereof and taking this sum and multiplying it by the Cap Rate (as hereinafter defined) to arrive at the per annum rent figure for the Lease Term, but in no event shall the total costs of the purchase of the Premises and renovation by Landlord exceed $2,585,000.00; subject, however, to the square footage addition of Change Orders approved by Tenant in accordance with Exhibit "B". Landlord shall provide to Tenant a copy of the Master Premises (its “Pro Rata Share”)) closing statement for the purchase of the rent payable under Premises, invoices and receipts for the Master Lease, together with an amount equal renovations and such other reasonable documentation requested by Tenant. The Cap Rate for the initial five (5) years of the Lease Term shall be 11.5% per annum. Landlord represents to Sublessee’s pro rata share (based on Tenant that the ratio of square footage of interest rate in Landlord's mortgage encumbering the Premises (excluding "Mortgage Rate") is currently 8.5% per annum and that the Shared AreasMortgage Rate is subject to increase by Landlord's mortgagee once every five (5) years. Accordingly, if Landlord's existing mortgagee increases the Mortgage Rate, then Tenant's Cap Rate shall also increase by the same percentage point increase but Tenant's Cap Rate shall not increase by more than two (2) percentage points once every five (5) year period ("ceiling"). By way of example, if Landlord's mortgagee increases Landlord's Mortgage Rate by one (1) percent to 9.5% per annum, then Tenant's Cap Rate shall be adjusted to 12.5% per annum [i.e.-one (1) percentage point]. Should Landlord's Mortgage Rate decrease, then Tenant's Cap Rate shall also decrease by the same percentage point decrease, but in no event shall Tenant's Cap Rate decrease to a rate less than 11.5% per annum ("floor"). Prior to any adjustment in the Cap Rate, Landlord shall provide Tenant with reasonable documentation showing the adjustment in the Mortgage Rate, the recalculation of the Cap Rate and the recalculation of the Rent for the next five (5) year period. The increase or decrease in the Rent, as the case may be, shall be retroactive to the square footage date the Mortgage Rate was adjusted (provided that the Cap Rate shall only be adjusted once every five (5) years throughout the Lease Term and all extensions thereof and subject to the ceiling and floor on the Cap Rate as described herein). If Landlord refinances its current mortgage on the Premises with a bona fide third party lender, then the provisions of this paragraph shall continue to apply including the limitation on adjustment of the Master Premises Cap Rate once every five (excluding 5) years during the Shared Areas), Term and subject to the ceiling and the floor as provided herein. The Rent shall be payable in equal monthly installments in advance on or before the first day of each and every calendar month of the rent payable under the Master Lease with respect to the Shared AreasTerm of this Lease. Such amounts The Rent shall be due paid in addition to and payable within thirty (30) days over and above all other payments to be made by Tenant herein. The first lease year shall be a full year commencing on the Lease Commencement Date and each following lease year shall be an annual period commencing on the anniversary date of delivery by Landlord the Lease Commencement Date. Appropriate proration shall be made if the Lease Commencement Date is not on the first day of an invoice therefora calendar month, without deduction or offset and without prior notice or demand, at if the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based date of termination of the lease is not on increases in the base rent under the Master Leaselast day of a calendar month. In addition, Sublessee shall pay, as and when due under upon the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration occurrence of the then-scheduled term Delivery Date and the determination of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained Rent as set forth in this Sublease)Section 4.1, and (b) all costs directly incurred by or at the request of Sublessee with respect to its use payment of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base recalculated Rent shall be deemed additional rentretroactive to the Delivery Date and the appropriate proration shall be made if the Delivery Date is not the first day of a calendar month. The parties shall execute, acknowledge and deliver to each other the written statement attached hereto as Exhibit "C" specifying the Delivery Date and the Rent payable by Tenant hereunder. Further, upon request of either party, the parties shall re-execute the written statement after any adjustment in the Rent hereunder.
Appears in 2 contracts
Samples: Lease Agreement (Nationsrent Inc), Lease Agreement (Nationsrent Inc)
Rent. Sublessee (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises, subject to abatement as expressly set forth in Section 6(d)(ii), below.
(ii) Subtenant shall pay Sublessor as rent Operating Costs for the Premises (“Base Rent”) its pro rata share (based Expansion Space on the ratio same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant's Percentage Share shall be increased appropriately to account for the addition of the square footage Expansion Space.
(iii) The Security Deposit will be increased by an amount equal to:
(A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Premises to Commencement Date, six (6) months' Base Rent initially payable for the square footage Expansion Space; or
(B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Master Premises Commencement Date, (its “Pro Rata Share”)x) six (6) months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the rent payable under date Subtenant delivers its Exercise Notice and the Master Lease, together with denominator of which is forty (40) (the "Fraction"). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant's occupancy of the Expansion Space (but Subtenant's failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant's obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to Sublessee’s pro rata share forty percent (based on the ratio of square footage 40%) of the Premises (excluding initial additional Security Deposit amount as, when and if the Shared Areasinitial Security Deposit is reduced pursuant to Section 5(c) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentabove.
Appears in 2 contracts
Samples: Sublease Agreement (Epocrates Inc), Sublease Agreement (Epocrates Inc)
Rent. Sublessee 3.1 Tenant shall pay Sublessor to Landlord as rent (the “Rent”) for the Premises during Term the Rent identified on Exhibit L.
3.2 The Rent shall be payable in equal monthly installments within five (“Base Rent”5) days of the first day of each and every month during the Term, without previous demand therefor and without offset or deduction of any kind whatsoever, except as herein specifically set forth. Notwithstanding the foregoing, Tenant shall pay the first month’s installment of Rent within five (5) days of the execution of this Lease and, if the Commencement Date occurs on other than the first day of a calendar month, Tenant shall pay its pro rata share (based of Rent for such calendar month.
3.3 All Rent payable hereunder shall be made payable to Landlord and sent to Landlord’s address set forth on the ratio of the square footage of the Premises corresponding Exhibit L, or to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Leasesuch other person or persons or at such other place as may be designated by written notice from Landlord to Tenant, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time, and shall be made in local currency in which the Premises is located (or as otherwise agreed to by Landlord and Tenant in writing) which shall be legal tender for all debts, public and private. Such Base At Tenant’s option, Rent shall increase may be payable when due by wire transfer or other payment of immediately available funds to an account designated from time to time based on increases by Landlord. Landlord shall be deemed to receive such payments when Landlord’s bank actually receives the wire transfer from Tenant’s bank for the account of Landlord.
3.4 Tenant shall remain obligated under this Lease in the base rent accordance with its terms and shall not take any action to terminate, rescind or avoid this Lease except as expressly permitted in this Lease, notwithstanding any action for bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any assignee of Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any court. Except as expressly set forth herein, Tenant hereby waives all right (i) to terminate this Lease, or (ii) to surrender this Lease, or (iii) to any abatement, deferment, reduction, set-off, counterclaim or defense with respect to any Rent payable hereunder. Except as expressly set forth herein, Tenant shall remain obligated under the Master this Lease in accordance with its terms and Tenant hereby waives any and all rights now or hereafter conferred by statute or otherwise to modify or to avoid strict compliance with its obligations under this Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of Notwithstanding any such feesstatute or otherwise, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, Tenant shall be bound by all the terms and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary provisions contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentLease.
Appears in 2 contracts
Samples: Master Lease Agreement (Xylem Inc.), Master Lease Agreement (Xylem Inc.)
Rent. Sublessee (a) Tenant shall pay Sublessor to Landlord as rent rental the amount specified in the Basic Lease Information as the Base Rent. Base Rent for the Premises (“Base Rent”) its pro rata share (based first month shall be payable upon Tenaxx'x xxecution of this Lease and in advance on or before the ratio first day of the square footage first full calendar month following commencement of the Premises term and of each successive calendar month thereafter during the term. If the term commences on other than the first day of a calendar month any excess payment of Base Rent shall be credited against the last payment of Base Rent otherwise due.
(b) Tenant shall pay, as additional rent, all amounts of money required to be paid to Landlord by Tenant hereunder in addition to monthly rent, whether or not the square footage same be designated "additional rent."
(c) Tenant hereby acknowledges that late payment by Tenant to Landlord of rent and other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any loan secured by the Building. Accordingly, if any installment of rent or any other sums due from Tenant shall not be received by Landlord on, or prior to, the date due, Tenant shall pay to Landlord a late charge equal to five percent (5%) of such overdue amount; provided, however, that no such late charge shall be payable if one time during any 12-month period Tenant does not pay any such sum when due but then pays such amount with in three business days following Landxxxx'x xotice. The parties hereby agree that such late charge represents a fair and reasonable estimate of the Master Premises (its “Pro Rata Share”)) costs Landlord will incur by reason of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio late payment by Tenaxx. Xxceptance of square footage such late charge by Landlord shall in no event constitute a waiver of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the Shared Areasother rights and remedies under this Lease.
(d) Any amount payable by Tenant to Landlord, if not paid when due, shall bear interest from the date due until paid at the rate of 10% per annum or, if a higher rate is legally permissible, at the highest rate legally permitted, provided that interest shall not be payable on late charges incurred by Tenant nor on any amounts upon which late charges are paid by Tenant to the extent such interest would cause the total interest to be in excess of that legally permitted. Such amounts Payment of interest shall not excuse or cure any default by Tenant under this Lease.
(e) All payments due from Tenant to Landlord hereunder shall be due and payable within thirty (30) days of delivery by made to Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, in lawful money of the United States of America at the address indicated by Sublessor for payment set forth in writing from time the Basic Lease Information, or to time. Such Base Rent shall increase such other person or at such other place as Landlord may from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable designate by Sublessor notice to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentTenant.
Appears in 2 contracts
Samples: Net Office Tech Lease (Silicon Energy Corp), Net Office Tech Lease (Silicon Energy Corp)
Rent. Sublessee 7.1. Tenant shall pay Sublessor to Landlord as rent Base Rent for the Premises Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3, Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Base Additional Rent”) its pro rata share at times hereinafter specified in this Lease (based on the ratio of the square footage of the Premises to the square footage of the Master Premises a) any increase in Taxes (its “Pro Rata Share”)as defined below) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared AreasProject, based upon Tenant’s Pro Rata Share, in excess of Taxes for the calendar year ending December 31, 2013 (the “Base Year”), (b) any increase in Operating Expenses, based upon Tenant’s Pro Rata Share, in excess of Operating Expenses for the Base Year and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Such amounts Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid to Landlord, without abatement, deduction or offset and without prior notice or demandoffset, in lawful money of the United States of America at the address indicated by Sublessor office of Landlord as set forth in writing Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Tenant’s obligation to time. Such Base pay Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, not be discharged or otherwise affected by (a) its Pro Rata Share of all operating expensesany Applicable Laws now or hereafter applicable to the Premises, taxes(b) any other restriction on Tenant’s use, insurance and other costs payable under or (c) except as expressly provided herein, any casualty or taking. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease period prior to the expiration date of the then-scheduled term expiration or earlier termination of the Master Term or this Lease (it being understood that Sublessee shall have no obligation to pay any portion of survive any such feesexpiration or earlier termination; provided, costshowever, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained nothing in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee sentence shall in any way affect Tenant’s obligations with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease any other than Base Rent shall be deemed additional rentperiod.
Appears in 2 contracts
Rent. Sublessee shall 1.01. Tenant hereby agrees to pay Sublessor as to Landlord basic annual rent for (the Premises (“Base Rentbasic annual rent”) its pro rata share as set forth in Section (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)h) of the Reference Page hereof. The basic annual rent payable under the Master Lease, together with an amount shall be paid by Tenant in equal to Sublessee’s pro rata share (based monthly installments in advance on the ratio first day of square footage of each calendar month during the Premises (excluding Term from and after the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demandRent Commencement Date, at the address indicated office of Landlord or such other place as Landlord may designate, without any setoff or deduction whatsoever, except such deductions as are specifically referred to in Articles 10 and 14 hereof (or as otherwise specifically set forth in this Lease, if at all). The first full month’s installment of basic annual rent shall be paid by Sublessor Tenant to Landlord upon the execution of this Lease. Should the Rent Commencement Date fall on any day other than the first day of a month, then the basic annual rent for such month shall be pro-rated on a per diem basis, and Tenant agrees to pay the amount thereof for such partial month on the Rent Commencement Date.
1.02. Tenant shall pay the basic annual rent and all additional rent payable hereunder in writing from time lawful money of the United States by check (subject to timecollection) drawn to Landlord’s order on a bank which is a member of the New York Clearinghouse Association or a successor thereto, or a New Jersey bank. Such Base Rent All sums, other than basic annual rent, payable by Tenant hereunder shall increase from time be deemed additional rent and shall be payable on demand unless other payment dates are hereinafter provided. Landlord shall have the same rights and remedies (including, without limitation, the right to time based on increases commence a summary dispossess proceeding) for a default in the base payment of additional rent under as for a default in the Master Lease. In addition, Sublessee shall pay, as and when due under payment of basic annual rent notwithstanding the Master Lease, fact that Tenant may not then also be in default in the payment of basic annual rent.
(a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee If Tenant shall have no obligation fail to pay when due any portion installment of basic annual rent or any payment of additional rent, then Tenant shall pay Landlord, as additional rent, a late charge equal to three (3%) percent of such feesinstallment or payment as compensation for Landlord’s additional administrative expenses relating to such late payment. The first (1st) time in any single calendar year that an installment of basic annual rent or additional rent is not paid when due, costsfor that one (1) time only, charges, penalties or other consideration the aforementioned late charge shall not be imposed if the unpaid amount is paid in connection with Sublessor’s exercise full by the date falling fifteen (15) days after the due date. If, in any calendar year, all installments of any such early termination right or optionbasic annual rent and all payments of additional rent are paid when due, and that Sublessor reserves then, the right late charge waiver applicable to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything subsequent calendar years shall nonetheless be limited to the contrary contained in this Sublease), and just one (1) single instance per calendar year.
(b) If Tenant shall fail to pay when due any installment of basic annual rent or any payment of additional rent, Tenant shall pay in addition to the late charge provided in said paragraph (a) interest on all costs directly incurred by or such amounts (including the late charge) at the request Interest Rate (as said term is defined in Article 22 hereof), from the date when such installment or payment shall have become due to the date of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent payment thereof, and such interest shall be deemed additional rent. The first (1st) time in any single calendar year that an installment of basic annual rent or additional rent is not paid when due, for that one (1) time only, the aforementioned interest payment shall not be imposed if the unpaid amount is paid in full by the date falling fifteen (15) days after the due date. If, in any calendar year, all installments of basic annual rent and all payments of additional rent are paid when due, then, the interest payment waiver applicable to subsequent calendar years shall nonetheless be limited to just one (1) single instance per calendar year.
(c) The provisions of this Section 1.03 are in addition to all other remedies available to Landlord for nonpayment of basic annual rent or additional rent.
1.04. Landlord agrees that no basic annual rent shall be due from Tenant that is solely attributable only to the period (“Free Rent Period”) beginning on the Commencement Date and ending on the day immediately prior to the Rent Commencement Date (as the same may be extended pursuant to the terms of this Lease). If, prior to the Rent Commencement Date, a monetary breach and/or a material non-monetary breach occurs under the Lease (after receipt of any required written notice and beyond the expiration of any applicable grace period), then, in addition to any and all other rights and remedies of Landlord, Tenant shall become immediately obligated to: (i) pay Landlord at once in a single lump sum an amount equal to the full amount of basic annual rent waived, calculated as though basic annual rent had been due under Section (h)(i) of the Reference Page hereof, and (ii) pay Landlord basic annual rent under Section (h) of the Reference Page at all times after the date of such monetary breach and/or material non-monetary breach (which remains uncured after receipt of any required written notice and beyond the expiration of any applicable grace period) as if the Free Rent Period ended on the date of such breach. If the date of such monetary breach and/or material non-monetary breach (which remains uncured after receipt of any required written notice and beyond the expiration of any applicable grace period) occurs on a date other than on the first (1st) day of a calendar month, then, the basic annual rent for such partial month shall be equitably prorated in a manner reasonably determined by Landlord.
Appears in 2 contracts
Samples: Sublease Agreement (Scynexis Inc), Office Lease (Optimer Pharmaceuticals Inc)
Rent. Sublessee shall (a) Tenant covenants to pay Sublessor to Landlord, as rent for the Premises during the Interim Term and the Primary Term of this Lease, the amounts set forth on Exhibit 5- 1 hereto, and during each Extended Term the amounts determined pursuant to Exhibit 5-2 hereto (“Base herein called the "Basic Rent”") its pro rata share (based in monthly installments in advance on the ratio first day of each calendar month (herein called the "Basic Rent Payment Dates") by wire or other electronic transfer of immediately available funds or by check payable to the Landlord at the address set forth above and/or to such other person or such other place or account as Landlord from time to time may designate to Tenant in writing; provided, Landlord may designate to Tenant in writing that all or a portion of the square footage of monthly Basic Rent be paid directly to a Mortgagee or an institutional payment agent, and the Premises remainder be paid as otherwise designated in writing by Landlord. Any payment made by check shall be deemed made on the date received, subject to collection. Subject to the square footage second sentence of Subparagraph 7(a), Tenant shall pay when due all taxes payable on Basic Rent and Additional Rent, whether imposed on Landlord or Tenant, including without limitation, all gross rent taxes and sales taxes on such Basic Rent and Additional Rent, but calculated as if the Master Premises Basic Rent and the Additional Rent were the sole income of Landlord.
(its “Pro Rata Share”b) Tenant covenants that all other amounts, liabilities and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease together with every fine, penalty, interest and cost which may be added for nonpayment or late payment thereof, shall constitute additional rent hereunder (herein called "Additional Rent"). In the event of any failure by Tenant to pay or discharge any Additional Rent, Landlord shall have all rights, powers and remedies provided herein or by law in the case of nonpayment of Basic Rent. Tenant also covenants to pay to Landlord on demand an amount (the "Late Charge") equal to five percent (5%) of the rent payable under the Master Leasepayment amount then due on all installments of Basic Rent or Additional Rent which are more than five (5) days overdue, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) cover Landlord's administrative expenses. Landlord is obligated to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease pay any late fees charged by Mortgagee with respect to the Shared AreasMortgage if the Late Charge is paid by Tenant. Such amounts shall The actual amount of Landlord's administrative expenses arising by reason of a late payment will be due difficult to ascertain, and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in parties agree that the base rent under the Master LeaseLate Charge as calculated above is a reasonable estimate thereof. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation Tenant further covenants to pay any portion to Landlord on demand interest at the per annum rate of any such feesinterest equal to five percent (5%) plus the "prime rate" as reported by the Wall Street Journal, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request maximum rate permitted by applicable law, whichever is less, on all Basic Rent and Additional Rent due to Landlord from the date due until such amount is paid in full. If the Wall Street Journal is no longer published or the Wall Street Journal discontinues publication of Sublessee the "prime rate," then Landlord shall substitute a comparable prime rate. Notwithstanding the two prior sentences of this Subparagraph 5(b) to the contrary, so long as any debt secured by a first Mortgage against the Premises remains outstanding (including such debt as exists on the date hereof and any such debt incurred in the future), the rate of interest that shall apply under this Lease to all overdue Basic Rent and Additional Rent shall be the lesser of (i) the maximum rate permitted by applicable law, or (ii) the interest rate applicable to late payments of interest or principal due with respect to its use such debt (which interest rate under such first Mortgage is referred to herein as the "Default Rate"); said lower rate described in clauses (i) or (ii) being referred to as the "Mortgage Default Rate"; provided, however, such Mortgage Default Rate shall only apply to the overdue Basic Rent while Landlord is obligated to pay interest at the Default Rate on late payments with respect to said Mortgage debt (and at all other times the rate described in the prior two sentences of this Subparagraph 5(b) shall continue to apply to overdue Basic Rent and Additional Rent). At the written request of Tenant Landlord will advise Tenant of the Premises. All amounts required amount of the Mortgage Default Rate in a Landlord's certificate delivered to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentTenant pursuant to Subparagraph 25(b) hereof.
Appears in 2 contracts
Samples: Lease (School Specialty Inc), Lease (School Specialty Inc)
Rent. Sublessee shall (a) During the Initial Term, Lessee will pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based to Lessor on the ratio first Business Day of each Quarter the square footage of payment set forth on Schedule 1 for such Quarter (or, if applicable, the Premises to pro- rated portion thereof) (the square footage of the Master Premises (its “Pro Rata ShareInitial Term Rent Payments”)) of the rent payable under the Master Lease, together with . The Initial Term Rent Payments for a Quarter shall be adjusted in an amount equal to Sublessee’s pro rata share (based on any applicable increase or decrease calculated in accordance with the ratio of square footage methodology set forth in Exhibit C. The Initial Term Rent Payments shall be payable through the end of the Premises Initial Term notwithstanding any termination of this Lease (excluding and the Shared Areasobligation to make all such Initial Term Rent Payments will be treated as having been incurred at the inception of the Initial Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the square footage end of the Master Premises (excluding Initial Term, no further Initial Term Rent Payments shall be due, though the Shared Areas), Lessee will pay to the Lessor a pro-rated amount of the rent payable under the Master Lease Initial Term Rent Payment due with respect to the Shared AreasQuarter in which this Lease is terminated. Such amounts With respect to the first payment to be made hereunder for the first Quarter of the Initial Term, Lessee shall pay to Lessor (i) on the Effective Date, the pro-rated portion of the Initial Term Rent Payment set forth on Schedule 1 for such Quarter for the period of time from and including the Effective Date to the end of such Quarter, and (ii) within fifteen (15) Days after the Effective Date, the pro-rated portion of the all rent payments due under the Exchange Lease for the period of time from the first day of the current Renewal Term (as such term is defined in the Exchange Lease) under the Exchange Lease to (but not including) the Effective Date.
(b) During each Renewal Term, Lessee will pay to Lessor on the first Business Day of each Quarter the payment set forth on Schedule 1 for such Quarter (or, if applicable, the pro-rated portion thereof) (the “Renewal Term Rent Payments”). The Renewal Term Rent Payments for a Quarter shall be due adjusted in an amount equal to any applicable increase or decrease calculated in accordance with the methodology set forth in Exhibit C. The Renewal Term Rent Payments shall be payable through the end of the applicable Renewal Term notwithstanding any termination of this Lease (and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, the obligation to make all such Renewal Term Rent Payments will be treated as having been incurred at the address indicated inception of the Renewal Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the end of the applicable Renewal Term, no further Renewal Term Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the Renewal Term Rent Payment due with respect to the Quarter in which this Lease is terminated. If this Lease is extended beyond December 10, 2021 pursuant to Section 3.1(b), the Parties shall negotiate in good faith to agree on the Rent Payments for Renewal Terms during such extension. If the Parties cannot agree in good faith on the Rent Payments for such Renewal Terms by Sublessor the commencement of such extension, then this Lease shall terminate as of such date.
(c) Lessee shall make the Rent Payments in writing from time immediately available funds to time. Such Base Rent shall increase an account in the United States of America designated from time to time based on increases to Lessee in the base rent under the Master Leasewriting by Lessor. In additionThe initial nominated account of Lessor is: Colorado Business Bank ABA #: 000000000 Account Name: AEC-TH, Sublessee shall pay, as and when due under the Master Lease, LLC Account #: *
(ad) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts Any Rent required to be paid by Sublessee under this Sublease other than Base Section 2.2 that is not so paid (unless subject to a good faith dispute) will bear interest from the date on which Rent was required to be paid to the date such Rent is actually received by Lessor at an effective annual rate equal to the Interest Rate. In the event of a dispute with respect to any Rent pursuant to this Section 2.2, the Parties shall continue to perform their obligations as required hereunder. Upon resolution of such dispute, the Rent, if any, determined to be owing by Lessee to Lessor (by agreement of the Parties or final determination of a court of competent jurisdiction) shall be deemed additional rentpaid within five Business Days following such resolution, together with interest (using the interest rate described above) from the date Lessee was required to pay the disputed amount.
Appears in 2 contracts
Samples: Equipment Lease (Advanced Emissions Solutions, Inc.), Equipment Lease (Advanced Emissions Solutions, Inc.)
Rent. Sublessee 7.1. Tenant shall pay Sublessor to Landlord as rent Base Rent for the Premises Premises, commencing on the one (1) month anniversary of the Term Commencement Date (the “Rent Commencement Date”), the sums set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Base Additional Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master at times hereinafter specified in this Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Tenant’s Adjusted Share (as defined below) of all operating expensesOperating Expenses (as defined below), taxes, insurance and other costs payable under (b) the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease Property Management Fee (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Subleaseas defined below), and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and Tenant waives all costs directly incurred by rights now or at hereafter existing to terminate or cancel this Lease or quit or surrender the request Premises or any part thereof, or to assert any defense in the nature of Sublessee constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to its use any period or obligations arising, existing or pertaining to the period prior to the date of the Premises. All amounts required expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to be paid by Sublessee under this Sublease any other than Base Rent shall be deemed additional rentperiod.
Appears in 2 contracts
Samples: Lease (Pandion Therapeutics Holdco LLC), Lease (Pandion Therapeutics Holdco LLC)
Rent. (a) Sublessee shall pay to Sublessor as rent Basic Rental as for the Subleased Premises (“Base Rent”) its pro rata share (based on during the ratio Term of this Sublease Agreement the square footage of the Premises amount set forth below: Period Monthly Rent ------ ------------ Commencement Date to Expiration $6,118.13 In addition to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In additionBasic Rental, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of also pay to Sublessor all operating expenses, taxes, insurance and other costs Additional Rent payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything including self insurance costs, to the contrary extent allocable to the Subleased Premises. For purposes of calculating such Additional Rent, Sublessee's "proportionate share" shall be a fraction, the numerator of which is the space contained in the Subleased Premises (8,540 square feet as of the Commencement Date) and the denominator of which is the entire space contained in the Building (209,088 square feet). The respective amounts set forth above shall be paid on or before the 1st day of each month of the Term. If Sublessee fails or refuses to pay any installment of Basic Rental within five (5) business days after the date such installment is due, or Additional Rent within fifteen (15) business days after Sublessee's receipt of written demand therefor, Sublessor shall be entitled to collect a late charge equal to five percent (5%) multiplied by the amount of the late payment to compensate Sublessor for the additional expense involved in handling delinquent payments and not as interest. If the payment of a late charge required by this Sublease)Section is found to constitute interest notwithstanding the contrary intention of Sublessor and Sublessee, the late charge shall be limited to the maximum amount of interest that lawfully may be collected by Sublessor under applicable law, and (b) all costs directly incurred by or at if any payment is determined to exceed such lawful amount, the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent excess shall be deemed additional rentapplied to any unpaid rent then due and payable hereunder and/or credited against the next succeeding installment of rent payable hereunder. If all rent payable hereunder has been paid in full, any excess shall be refunded to Sublessee.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Adams Laboratories, Inc.), Sublease Agreement (Adams Respiratory Therapeutics, Inc.)
Rent. Sublessee shall Tenant agrees to pay Sublessor to Landlord, or as rent for the Premises (“Base Rent”) its pro rata share (based directed in writing by Landlord, commencing on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master LeaseRent Commencement Date, together with an amount equal to Sublessee’s pro rata share (based and thereafter monthly, in advance, on the ratio first (1st) day of square footage of each and every calendar month during the Premises Lease Term (excluding except that the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the first month’s rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due upon execution of this Lease), a sum equal to the Monthly Rent specified in Section 1,2(k) and payable within thirty (30) days of delivery by Landlord of an invoice thereforExhibit B, without deduction plus applicable Florida Sales Tax and any use taxes levied or offset and without prior notice or demandassessed against all rental payments, at the address indicated by Sublessor Landlord’s Address as set forth in writing from time to time. Such Base Rent shall increase Section 1.2(b) or at such other place as Landlord may from time to time based on increases in the base rent under the Master Leasedesignate by written notice. In additionUntil notice of some other designation is given, Sublessee Rent and all other charges for which provision is herein made shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease remittance payable to Landlord, and all remittances so received as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. Rent for any partial month shall be prorated on a daily basis, and if the Lease Term commences on a day other than Base Rent the first day of a calendar month, the first payment which Tenant makes to Landlord shall be deemed payable on the Commencement Date and shall be equal to a proportionate part of the monthly installment of Rent for the partial month from the Commencement Date to the last day of the calendar month in which such Commencement Date occurs, plus the installment of Rent for the succeeding calendar month. Other charges payable by Tenant on a monthly basis, if hereinafter provided, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion; and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Except as herein expressly otherwise provided, the Rent and all additional rentrent and other charges for which provision is made in this Lease (“Rent”) shall be paid by Tenant to Landlord without setoff, deduction or abatement. Any installment of rent which is not paid when it becomes due shall be subject to a late charge of the maximum interest allowed by Law and an administrative overhead charge of Twenty and 00/100 Dollars ($20.00) per day overdue until that installment of rent has been paid.
Appears in 2 contracts
Samples: Lease Agreement (La Rosa Holdings Corp.), Lease Agreement (La Rosa Holdings Corp.)
Rent. Sublessee shall pay Sublessor as All rent and other amounts paid by the tenants under the Leases (collectively, “Rent”), for the Premises (“Base Rent”) its pro rata share (month of Closing shall be prorated as of the Closing Date based on the ratio respective number of days of ownership of Seller and Buyer for such month; provided, however, that neither Buyer nor Seller shall receive credit at Closing for any Rent that is past due (the square footage “Past Due Rent”). Following the Closing, if Buyer or Seller receives any payment from any tenant for which Past Due Rent is outstanding, such payment shall be distributed in the following order of priority: (a) first, to Buyer for Rent then due and payable by such tenant under its Lease which accrues on or after the Premises Closing Date, (b) next, on a prorated basis to Buyer and Seller for Rent due and payable by such tenant under its Lease which accrues in the month in which the Closing Date occurs, and (c) then, after payment in full of all such amounts then due and payable to Buyer from such tenant, to Seller to the square footage extent of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Leaseall Past Due Rent owed by such tenant, together with an amount equal interest and late charges, if applicable. If any Past Due Rent is not paid to SublesseeSeller within sixty (60) days after Closing, Seller shall have the right to attempt to effect collection by litigation or otherwise so long as Seller does not take any action to terminate the tenant’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) lease or right to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease possession. Buyer shall cooperate with Seller in its efforts to collect Past Due Rent but shall not be required to incur any cost with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction such cooperation or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding take any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of action against any termination right or option that Sublessor may have under the Master Lease tenant to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties tenant’s lease or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentpossession.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Bluerock Residential Growth REIT, Inc.)
Rent. Sublessee (a) During the Term, Lessee shall pay Sublessor the rent provided in Item 6 of Schedule B ("Basic Rent") to Lessor (or to such other party as rent Lessor may from time to time specify in writing) in lawful money of the United States by electronic transfer of immediately available funds before 1:00 P.M., Eastern Time, at such place, within the continental United States, as Lessor may from time to time designate to Lessee in writing. Basic Rent shall be payable by Lessee in installments in the amounts set forth in Item 6 of Schedule B and (except for the Premises (“Base Rent”) its pro rata share (based on the ratio first payment of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Basic Rent which shall be due and payable within on, or no more than thirty (30) days prior to, the date of delivery by Landlord commencement of an invoice thereforthe Basic Term) shall be due and payable on, or no more than thirty (30) days prior to, the dates specified in Item 6 of Schedule B ("Installment Payment Dates") and shall constitute Basic Rent for the periods specified in said Item 6. If any Installment Payment Date falls on a day which is not a Business Day, Basic Rent shall be due and payable on, or no more than thirty (30) days prior to, the immediately prior Business Day.
(b) All amounts which Lesseeds required to pay or discharge pursuant to this Lease in addition to Basic Rent (including, without deduction limitation, if otherwise due and payable under this Lease, (i) amounts payable as the purchase price for the Leased Property, (ii) any amounts payable as liquidated damages hereunder, and (iii) amounts representing costs, expenses, liabilities and obligations due to or offset incurred by or on behalf of Lessor as a result of or in connection with the enforcement of any remedy or the exercise of any right by or on behalf of Lessor), and without prior all amounts representing all other expressly stated obligations of Lessee under this Lease and the other Lease Documents which could be discharged by Lessee with the payment of money (including, by way of example, pursuant to a contract for performance of such obligation with a third party) as reasonably determined by or on behalf of Lessor, and after any applicable notice and/or cure periods whether or demandnot Lessor or any other person has incurred any expense in connection therewith in the exercise of any right by or on behalf of Lessor, together with every penalty, overdue interest and cost which may be added for nonpayment or late payment of any of the foregoing, shall constitute additional rent hereunder ("Additional Rent"). If Lessee fails to perform any expressly stated obligation of Lessee under this Lease or any of the other Lease Documents within the time required hereunder or thereunder which could be discharged by Lessee by the payment of money (including, by way of example, pursuant to a contract for performance of such obligation with a third party) as reasonably determined by or on behalf of Lessor, and after any applicable notice and/or cure periods then, whether or not Lessor or any other person has incurred any expense in connection therewith in the exercise of any right by or on behalf of Lessee, immediately upon demand by Lessor, Lessee shall owe, as Additional Rent hereunder, the amount required to discharge such obligation as reasonably determined by or on behalf of Lessor, which amount shall be immediately due and payable. If Lessee fails to pay or discharge any Additional Rent and such failure constitutes an Event of Default, Lessor shall have all rights, powers and remedies provided for herein or by law or otherwise in the case of nonpayment of Basic Rent. Lessee shall, unless otherwise requested by Lessor, pay Additional Rent directly to the Person entitled thereto. Lessee also covenants to pay to Lessor on demand as. Additional Rent, interest at a rate (the address indicated "Overdue Rate"), calculated on the basis of a 360-day year of twelve (12) equal months, equal to the greater of (a) 8.25% per annum or (b) 3.5% per annum over the then current prime rate of interest publicly announced by Sublessor Citibank, N.A. (or its successor) as its "base" or "prime" rate of interest effective in writing New York, New York, as such rate of interest may change from time to time and if Citibank, N.A. (or its successor) ceases to announce a prime rate, then the current prime rate of interest published by the Wall Street Journal or its successor from time to time. Such Base , but in no event greater than the maximum rate permitted by applicable Legal Requirements, on (i) all overdue installments of Basic Rent shall increase from time to time based on increases the due date thereof until paid in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Leasefull, (aii) its Pro Rata Share all overdue amounts of all operating expensesAdditional Rent, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master arising out of obligations which Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion paid on behalf of any Lessee pursuant hereto from the date of such fees, costs, charges, penalties or other consideration payment by Lessor until paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease)full, and (biii) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts each other sum required to be paid by Sublessee under this Sublease other than Base Lessee hereunder which is overdue, from the date such sum was due until the date received by the Person entitled thereto. Lessee also covenants to pay to Lessor on demand as Additional Rent, a late fee equal to five percent (5%) of any Basic Rent shall be deemed additional rentor Additional Rent which has not been paid within five (5) days after the same is due. If any Basic Rent or Additional Rent is collected by or through an attorney, as Additional Rent, Lessee agrees to pay all reasonable costs of collection, including, but not limited to reasonable attorney's fees and to reimburse Lessor for any reasonable costs of collection, including without limitation, reasonable attorney's fees and expenses, incurred by Lessor's Mortgagee.
Appears in 2 contracts
Samples: Lease Agreement (Maxxam Inc), Lease Agreement (Maxxam Inc)
Rent. Sublessee Unless otherwise agreed upon, the tenant shall ensure that the rent is delivered to the address provided by the landlord. Rent payments are due on the day of each . The tenant must pay Sublessor as the rent on time. If the rent is not paid on the date it is due, the landlord may charge a late payment fee of $10.00 for the Premises first day the rent is due and $2.00 a day after that until the rent is paid in full (“Base maximum late payment fee – $100.00). The landlord may also give the tenant a Notice of Termination for Non- Payment of Rent”) its pro rata share (based on the ratio of the square footage of the Premises . The tenant agrees to pay rent to the square footage of landlord in the Master Premises following amount: Basic Rent: $ For parking spaces: $ Other (its “Pro Rata Share”)) of specify): $ Rent Payable $ Less Rent Discount* $ Actual Amount Tenant Must Pay: $ The landlord plans to increase the rent payable under by the Master Lease, together annual rent increase guideline on (date) . The landlord must provide the tenant with an amount equal to Sublessee’s pro rata share (based on the ratio a Notice of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of Rent Increase at least 3 months before the rent payable under is increased. The landlord plans to apply for a rent increase above the Master Lease guideline to increase the rent on (date) . The proposed Rent Payable will be $ . The landlord must provide the tenant with respect a Notice of Rent Increase at least 3 months before the rent is increased. A landlord is not required to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base offer a rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Leasediscount, but specifically excluding any feesif a discount is given, costsit must be set out in writing. Reducing or removing a rent discount is not considered a rent increase under The Residential Tenancies Act. However, charges an unconditional discount cannot be reduced or other consideration paid removed unless the tenant receives written notice of at least 3 months. If a tenancy agreement or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right discount agreement is for a fixed term, a landlord cannot reduce or option that Sublessor may have under remove an unconditional discount during the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (agreement. If a discount is subject to a condition, e.g. paying the rent on time, the landlord can withdraw it being understood that Sublessee shall have no obligation to pay any portion without notice if the tenant does not meet the condition. The landlord is offering a rent discount of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything $ subject to the contrary contained in this Sublease)following conditions: Discount is the same as last year’s or increased by $ . Discount is reduced by $ . Discount is removed. The proposed Rent Payable is subject to an application to the Residential Tenancies Branch for an above-guideline rent increase. The discount may be reduced or removed depending on the final decision on the landlord’s application. In any event, and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentActual Amount Tenant Must Pay will not exceed $ .
Appears in 2 contracts
Samples: Residential Tenancy Agreement, Residential Tenancy Agreement
Rent. Sublessee Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Sublessor Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (“Base Rent”60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) its pro rata share (based Rent is due on the ratio first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the square footage of the Premises month will be cause to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master void this Lease with respect to the Shared AreasAgreement. Such amounts All rents shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, paid to Lessor without deduction or offset demand and without prior notice or demand, set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address indicated by Sublessor in writing from time to time. Such Base Rent shall increase as Lessor may from time to time based on increases designate to Lessee by notice in the base rent under the Master Leasemanner hereinafter provided. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, All taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other consideration paid sections hereof, together with all interest and penalties that may accrue thereon in connection with Sublessor’s exercise the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any such early termination right default of Lessee or optionfailure on Lessee's part to comply with the term of this Lease, and that Sublessor reserves shall be deemed to be additional rent hereunder (hereinafter called the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease"Additional Rent"), and (b) in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all costs directly incurred by or at the request of Sublessee rights and remedies with respect to its use thereto as Lessor have for the nonpayment of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentabove specified monthly rental.
Appears in 2 contracts
Samples: Lease Agreement (Acme Television LLC), Lease Agreement (Acme Intermediate Holdings LLC)
Rent. (a) Sublessee shall pay to Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based minimum monthly rental hereunder the sum of $8,666.67 per month commencing on July 1, 2000 and continuing on the ratio first day of each succeeding month thereafter during the square footage term of this Sublease (the Premises to the square footage of the Master Premises (its “Pro Rata Share”"Basic Monthly Rent")) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Basic Monthly Rent shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase adjusted from time to time based on increases in accordance with the provisions in the base rent under Xxxxxxxxx in respect of adjustments to "fixed rent" (as that term is defined in the Master Lease. In additionXxxxxxxxx) as provided in Article 1 thereof, Sublessee such that Basic Monthly Rent shall pay, as and when due under at all times during the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease Sublease equal the monthly installments of fixed rent due from time to time under the Xxxxxxxxx. Basic Monthly Rent for any partial month shall be prorated at the rate of 1/30th of the Basic Monthly Rent counting the actual number of days elapsed.
(it being understood that b) Sublessee shall pay during the term of this Sublease, as additional rental hereunder (hereinafter referred to as "Additional Rent"), before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, (i) all real estate taxes, special assessments, water rates and charges, sewer rates and charges (including any sum or sums payable for present or future sewer or water capacity), charges for public utilities, street lighting, excise levies, licenses, permits, inspection fees, other governmental charges, and all other charges or burden of whatsoever kind and nature (including costs, fees, and expenses of complying with any restrictive covenants or similar agreements to which the Premises and/or the real property on which the Premises are located are subject) incurred in the use, occupancy, ownership, operation, leasing or possession of the Premises and/or arising under or related to this Sublease, whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforseen (all of which are collectively referred to herein as "Impositions"), which at any time during the term hereof may have no obligation to pay been or may be assessed, levied, confirmed, imposed upon, or become a lien on the Premises, or any portion thereof, or any appurtenance thereto, or this Sublease or the rents or income therefrom and (ii) any other amounts due Landlord under the terms of the Xxxxxxxxx (other than minimum rent), including common area maintenance costs, promotional charges, marketing charges and all other taxes, assessments, levies and charges of any such fees, costs, charges, penalties or other consideration nature whatsoever required to be paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything Xxxxxxxxx (collectively, the "Xxxxxxxxx Charges"). Sublessee shall pay to Sublessor any taxes or increases in taxes which result from any improvements to the contrary contained in Premises which Sublessee makes at any time during the term hereof. Sublessee shall pay to Sublessor (a) all Impositions, whether heretofore or hereafter levied for assessed upon the Premises, or any portion thereof, and/or this Sublease), Sublease which are due and payable during the term of this Sublease to Sublessor within five days of receipt of a statement specifying such amount from Sublessor and (b) all costs directly incurred by or Xxxxxxxxx Charges at the request times and in the manner specified therefor in the Xxxxxxxxx. Anything herein to the contrary notwithstanding, Sublessor shall pay its prorata portion of Sublessee any Impositions and/or Xxxxxxxxx Charges due and payable with respect to its use of the Premises. All amounts required to be paid by Sublessee under , or any portion thereof, and/or this Sublease other than Base Rent during the years in which the term hereof both commences and ends based on the number of days in each said year within the term of this Sublease, and Sublessor shall be deemed additional rentpay the balance of any such Impositions during said years.
Appears in 2 contracts
Samples: Sublease (Harvey Electronics Inc), Sublease (Harvey Electronics Inc)
Rent. Sublessee shall pay Sublessor as rent 2.1 The annual base rental (hereinafter called "Annual Base Rental") for the Premises shall be TWO HUNDRED FORTY EIGHT THOUSAND NINE HUNDRED FORTY AND 50/100 DOLLARS (“$248,940.50). The Annual Base Rental shall be payable in equal monthly installments of TWENTY THOUSAND SEVEN HUNDRED FORTY FIVE AND 04/100 DOLLARS ($20,745.04) (hereinafter called "Base Rent”") its pro rata share (based in advance on the ratio first day of each and every calendar month during the Lease Term. Base Rent shall be prorated at the rate of 1/30th of the square footage of Base Rent per day for any partial month. Beginning February 1, 2000, and each February 1 thereafter throughout the Premises to Lease Term, the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with Annual Base Rental and Base Rent shall automatically increase by an amount equal to Sublessee’s pro rata share three percent (based 3%) over the preceding twelve months Annual Base Rental and Base Rent.
2.2 Lessee shall pay the rent and all other sums, amounts, liabilities, and obligations which Lessee herein assumes or agrees to pay (whether designated Base Rent, additional rent, costs, expenses, damages, losses, or otherwise) (all of which are hereinafter called "Amount Due") as herein provided promptly at the times and in the manner herein specified without deduction, setoff, abatement, counterclaim, or defense except as otherwise provided in this lease. If any Amount Due is not received by Lessor on or before the ratio of square footage date on which it is due, Lessee shall pay Lessor a late charge equal to five percent (5%) of the Premises (excluding amount of such past due payment, notwithstanding the Shared Areas) date on which such payment is actually paid to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared AreasLessor. Such amounts shall be due and payable If such Amount Due is not paid within thirty (30) days of delivery by Landlord of an invoice thereforthe date on which it was originally due, without deduction or offset and without prior notice or demandthen, in addition to such late charge, Lessee shall pay Lessor interest on such Amount Due from the date on which it was originally due until the date it is actually paid at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior a rate per annum equal to the expiration lesser of (i) the then-scheduled term prime rate of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.interest announced by
Appears in 1 contract
Samples: Lease (Fundtech LTD)
Rent. Sublessee All collected rent under leases and other income attributable to a Property shall pay Sublessor be apportioned on a per diem basis as of midnight on the date immediately preceding the Apportionment Date. All such rent and other income for the Premises (“Base Rent”) its pro rata share (based on period preceding the ratio Apportionment Date shall be deemed to be property of the square footage applicable Contributors, and subject to the provisions of subparagraph (a), above, all rent and other income for any period commencing as of the Premises Apportionment Date and thereafter shall be the property of the Operating Partnership for the purpose of making the adjustments set forth herein. Amounts owed under this Section shall be paid to the square footage party to whom they are owed in cash at the Closing or during the Post-Closing Adjustment Period (as defined below). Except as provided on Schedule 3.3(b)(i) attached hereto, delinquent rent, accounts and notes receivable and other outstanding amounts shall not be prorated, but are hereby assigned to and shall be deemed the property of the Master Premises (its “Pro Rata Share”)) Operating Partnership. Any amounts received by Contributors on account of rent or other income after the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease Apportionment Date with respect to the Shared Areas. Such amounts Property and the related personal property shall be due and payable within thirty (30) days allocated to the Operating Partnership at Closing or turned over to the Operating Partnership for application in accordance with the terms of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall paythis Section, as applicable. At the respective Closings, the Operating Partnership agrees to assume responsibility for repayment of these security deposits set forth in Schedule 3.3(b)(ii) attached hereto, which the Contributors represent hereby represent and when due under the Master Lease, (a) its Pro Rata Share warrant that such schedule includes a true and complete list of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration obligations of the then-scheduled term landlord under leases affecting the Properties with regard to security, cleaning or similar tenant deposits which could become the obligation of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves Operating Partnership following the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentClosing.
Appears in 1 contract
Rent. Sublessee shall a. Lessee covenants to pay Sublessor as to the Town without prior notice or demand thereof, and without any deductions or set-offs whatsoever, rent for the Premises (the “Base Rent”) its pro rata share in the initial annual sum of THIRTY FOUR THOUSAND SEVEN HUNDRED FORTY AND 00/100 DOLLARS (based on the ratio $34,740.00) per year, which shall be payable in equal monthly installment of TWO THOUSAND EIGHT HUNDRED NINETY-FIVE AND 00/100 DOLLARS ($2,895.00) . The first Rent payment shall be made within sixty (60) days of the square footage Commencement Date and shall include all Rent due through the date of payment. On each anniversary of the Premises to Commencement Date, the square footage of the Master Premises Rent shall be automatically increased by three percent (its “Pro Rata Share”)3%) of the rent payable under the Master then current Rent. In addition to all other remedies provided in this Lease, together with an amount equal if Lessee fails to Sublessee’s pro rata share pay within twenty (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (3020) days of delivery by Landlord the due date, to Lessor any Rent, additional fees or other payments as hereinafter provided, Lessee shall pay to Lessor, as an additional fee, a late payment fee equal to five percent (5%) of an invoice therefor, without deduction such delinquent payment for each and every month or offset part thereof that such payment remains unpaid or not paid in full.
b. Town and without prior notice or demand, at Xxxxxx agree that the address indicated by Sublessor in writing from time to time. Such Base first monthly installment of Rent shall increase be paid upon the execution of this Lease by Xxxxxx. Subsequent payments of monthly installments of Rent shall be paid to the Town at Town’s address established in Section 17 hereof or to such other person, firm or place as the Town may from time to time based designate in writing on increases or before the fifth (5th) day of each month. Lessee shall require receipt of a validly completed IRS approved W-9 form (or its equivalent) prior to paying any Rent or any other amount(s) due under this Lease.
c. Lessee, in participation with other lessees of space on the Water Tower, agrees to pay a portion of the costs of structural upgrades to the Water Tower as outlined in the base rent under proposal from Tower Engineering Professionals, attached hereto as Exhibit C. It is anticipated that the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or portion payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee Lessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent total ] which shall be deemed additional rentdue no later than sixty (60) days after receipt by Lessee of Town’s invoice for the same.
Appears in 1 contract
Samples: Lease Agreement
Rent. Sublessee (a) Tenant shall pay Sublessor to Landlord a total annual "Base Rental" throughout the Term in equal monthly installments as rent for set forth in the Premises (“Base Rent”) its pro rata share (based on BASIC LEASE INFORMATION attached hereto, due and payable upon the ratio first day of each and every month during the Term, without any further notice from or demand by Landlord and without any offset or deduction whatsoever, except as set forth herein, in lawful money of the square footage United States of America, at the Premises address set forth in the BASIC LEASE INFORMATION attached hereto or elsewhere as designated from time to time by Xxxxxxxx's written notice to Xxxxxx. Tenant shall also pay to Landlord all charges and other amounts whatsoever as provided in this Lease ("Additional Charges"); and such Additional Charges shall be payable to Landlord at the place where the Base Rental is payable and Landlord shall have the same remedies for a default in the payment of Additional Charges as for a default in the payment of Base Rental. If the Commencement Date should occur on a day other than the first day of a calendar month, or the Expiration Date should occur on a day other than the last day of a calendar month, then the Base Rental and Additional Charges for such fractional month shall be prorated on a daily basis.
(b) Tenant recognizes that late payment of any Base Rental or Additional Charges will result in additional administrative expense to Landlord and will impair Landlord's ability to meet its obligations with respect to the square footage Building and otherwise, the exact extent of which additional expense and impairment will be extremely difficult or impractical to determine. Tenant therefore agrees that if any Base Rental or Additional Charges remain unpaid for a period of fifteen (15) days after the Master Premises (its “Pro Rata Share”)) date the same is due, the amount of the rent payable under the Master Lease, together with such unpaid Base Rental or Additional Charges shall be increased by a late charge to be paid to Landlord by Tenant in an amount equal to Sublessee’s pro rata share ten percent (based on the ratio of square footage 10%) of the Premises (excluding the Shared Areas) to the square footage amount of the Master Premises (excluding the Shared Areas), past due Base Rental and/or Additional Charges. The amount of the rent payable under the Master Lease with respect late charge to the Shared Areas. Such amounts be paid to Landlord by Tenant on any delinquent Base Rental and/or Additional Charges shall be due reassessed and payable within thirty (30) days added to Tenant's obligation for each successive monthly period accruing after the date on which the late charge is initially imposed until such late charge and all delinquent Base Rental and Additional Charges have been paid in full by Tenant. Tenant agrees that such amount is a reasonable estimate of delivery the loss and expense to be suffered by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise a result of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration such late payment by Xxxxxx. The provisions of this Paragraph 3(b) in no way relieve Tenant of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay Base Rental or Additional Charges on or before the date on which they are due, nor do the terms of this Paragraph 3(b) in any portion of way affect Landlord's remedies pursuant to Paragraph 18 in the event any such fees, costs, charges, penalties Base Rental or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves Additional Charges are unpaid after the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentdate due.
Appears in 1 contract
Samples: Lease Agreement (Embark Com Inc)
Rent. Sublessee A. Minimum Rent (as hereinafter defined) and Additional Rent (as hereinafter defined) and other charges which shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be become due and payable within thirty (30) days of delivery by hereunder as set forth herein are sometimes collectively referred to herein as “Rent.”
B. All Rent shall be paid to the Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor Landlord’s address, or at such other place or to such other person as the Landlord may designate, in writing from time lawful money of the United States of America.
C. The Tenant does hereby covenant and agree to time. Such Base pay the Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, herein reserved as and when the same shall become due under the Master Leaseand payable, (a) its Pro Rata Share of all operating expenseswithout demand therefor and without any set-off or deduction whatsoever, taxesand to keep and perform, insurance and other costs payable under the Master Leaseto permit no violation of, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration each and every one of the then-scheduled term covenants, agreements, terms, provisions and conditions herein contained on the part and on behalf of the Master Lease (it being understood Tenant to be kept and performed, provided, that Sublessee shall have no obligation set-off or deduction is allowed in the event that Landlord does not make the required reimbursement allowance payments to Tenant as described in Section 49.
D. If the Tenant fails or refuses to pay any portion Rent hereunder and the Landlord institutes suit for the collection of any such fees, costs, charges, penalties same or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use for possession of the Premises, the Tenant agrees to reimburse the Landlord, as Additional Rent hereunder, for all reasonable expenses incurred by the Landlord in connection therewith, including, but not limited to, reasonable attorney’s fees. All amounts If the payment of any sum required to be paid by Sublessee the Tenant to the Landlord under this Sublease other than Base Rent Lease (including, without limiting the generality of the foregoing, Rent, adjustments or payments made by the Landlord under the provisions of this Lease for which the Landlord is entitled to reimbursement by the Tenant) shall become overdue for ten (10) business days beyond the date on which written notice was given to Tenant of non-payment of rent due and payable as provided in this Lease, then a delinquency service charge equal to five (5%) percent of the amount overdue shall become immediately due and payable to the Landlord as liquidated damages for the Tenant’s failure to make prompt payment. Further, such delinquency service charge shall be deemed additional rentpayable on the first day of the month next succeeding the month during which such late charges become payable as Additional Rent, together with interest on the amounts overdue from the date on which they become due and payable computed at the rate of the lower of statutory rate or twelve (12) percent per annum. In the event of nonpayment of any delinquency service charges and interest provided for above, the Landlord shall have, in addition to all other rights and remedies, all the rights and remedies provided for herein and by law in the case of nonpayment of Rent. No failure by the Landlord to insist upon the strict performance by the Tenant of the Tenant’s obligation to pay late charges shall constitute a waiver by the Landlord of its rights to enforce the provisions of this Section 3 in any instance thereafter occurring. The provisions of this Section 3 shall not be construed in any way to extend any notice period provided for in this Lease.
E. Whenever in this Lease the Tenant is required to pay Additional Rent or other charges to the Landlord, the Landlord shall have all remedies for the collection thereof that it may have for the nonpayment of Minimum Rent hereunder.
F. This Lease is intended to be a Net, Net, Net Lease and the Rent reserved hereunder shall be absolutely net to Landlord, except where otherwise specifically set forth herein.
Appears in 1 contract
Samples: Lease Agreement (Integra Lifesciences Holdings Corp)
Rent. Sublessee (A) Lessee covenants and agrees to pay to Lessor the Rent (as hereinafter defined) of every kind and nature specified in this Lease. This shall include: i) Base Rent and Monthly Rent (both as hereinafter defined); and ii) any sums, charges, expenses, and costs identified in this Lease to be paid by Lessee to Lessor or to a third party if required under this Lease, all of which shall be deemed additional rent hereunder. All such amounts becoming due hereunder from Lessee are sometimes hereafter referred to collectively as “Rent.” Lessee’s obligation to pay said Rent shall begin on the Occupancy Date and shall continue to remain an obligation of Lessee until said obligation to pay Rent is completely satisfied. Lessee shall make all payments of Rent: i) each by one (1) check in lawful currency of the United States of America, payable to “Waterfront Center,” and delivered to RB Associates, Inc., 0000 00xx Xxxxxx, X.X., Xxxxx 0000, Xxxxxxxxxx, XX, 00000, or to such other party or to such other address, or pursuant to such other reasonable direction as Lessor may designate from time to time by written notice to Lessee; ii) without demand; and iii) without deduction, set-off, or counterclaim. If Lessor at any time or times accepts Rent after it shall become due and payable, or in an amount that may actually be less than that which is actually due, then such acceptance shall not excuse any delay upon subsequent occasions, or constitute, or be construed as, a waiver of any or all of Lessor’s rights hereunder. In the event any check given by Lessee to Lessor pursuant to this Lease is dishonored, Lessee shall pay Sublessor to Lessor, as rent additional Rent upon demand, the charges assessed against Lessor by the financial institution in which the dishonored check was deposited, and Lessor may require that Lessee pay all subsequent amounts due hereunder in the form (or similar) of a bank check. No endorsement or statement on any check shall be deemed an accord or satisfaction and Lessor may accept such check in payment without prejudice to any of Lessor’s rights hereunder. Lessor shall have the right but not the obligation, to apply any Rent or other amounts received under this Lease to any and all amounts due and payable to Lessor under the Lease, whether described as Rent or otherwise, in any manner and in any order of payment that Lessor may, in its sole discretion, desire. To the extent that Lessor accounts for any amounts received under this Lease by categories, such accounting categories are for Lessor’s convenience of reference only and shall not serve to limit Lessor’s rights hereunder or prevent Lessor from altering such categories or eliminating one (1) or more such categories in the future.
(B) On and after the Commencement Date, and for the Premises initial Lease term herein, Lessee shall pay to Lessor a fixed, minimum, guaranteed base rent (the “Base Rent”) its pro rata share of the sum of two million one hundred sixty-eight thousand seven hundred ninety-six & 00/100 dollars (based $2,168,796.00) (subject however to: i) increase or decrease as provided for below in Lease section 4(D); and ii) rent abatement as provided for below in Lease section 4(E)). The Base Rent above shall be payable in minimum monthly installments of: One (1) $ 33,350.00 Two (2) $ 35,600.00 Three (3) $ 35,898.00 Four (4) $ 37,244.00 Five (5) $ 38,641.00 The monthly installment of rent for the Demised Premises set forth above is hereinafter referred to as “Monthly Base Rent,” which Lessee hereby agrees to pay in advance to Lessor and Lessor hereby agrees to accept. The term Monthly Rent as it appears herein is deemed to mean Monthly Base Rent as adjusted pursuant to any applicable section of the Lease.
(C) Monthly Rent as specified above shall be payable in advance on the ratio first (1st) day of each calendar month during the square footage term of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master this Lease, together with an amount equal to Sublessee’s pro rata share however, the first (based on the ratio of square footage of the Premises (excluding the Shared Areas1st) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts such monthly installment shall be due upon affixation of Lessee’s signature hereto. Lessee shall also pay to Lessor with the payment of Monthly Rent any and all such payments of additional Rent provided for in this Lease.
(D) 1. In addition to the Base Rent above, if the Occupancy Date occurs on a day prior to December 1, 2003, said Monthly Rent for such partial month(s) (regardless of the actual number of days such month has) shall be payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor rate of one thousand ninety-three & 44/100 dollars ($1,093.44) per day, for each day of each month from the Occupancy Date until the Commencement Date stated above in writing from time to time. Such Base Rent shall increase from time to time based on increases section 2(A), payable in the base rent under the Master Lease. In addition, Sublessee shall payadvance, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentspecified above.
Appears in 1 contract
Samples: Lease Agreement (Inphonic Inc)
Rent. Sublessee (a) During the Term, from and after the Commencement Date, Subtenant shall pay Sublessor as to Sublandlord rent for (the Premises (“Base Rent”) its pro rata share at the rate of Two Hundred Thousand Dollars (based on $200,000) per annum, in equal monthly installments of Sixteen Thousand Six Hundred Sixty Six Dollars and Sixty Six Cents ($16,666.66). Sublandord will supply gas and electric utilities and telephone and internet services for ordinary office use at no additional charge. In no event shall Sublandlord be responsible or liable for the ratio failure to supply Subtenant or for the failure of Subtenant to receive, any utility service, nor shall Subtenant be entitled to any cessation, abatement, reduction or other offset of Rent in the square footage event of the Premises any failure to the square footage of the Master Premises receive any utility service.
(its “Pro Rata Share”)b) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts The Rent shall be due and payable within thirty on the first (301st) days day of delivery by Landlord each calendar month during the Term at the office of an invoice thereforSublandlord, without deduction or offset and without prior notice at such other place or demandplaces as Sublandlord may designate, at the address indicated by Sublessor in writing from any time to time. Such Base Rent shall increase and from time to time based on increases in upon prior written notice to Subtenant, without any set-off or deduction of any kind whatsoever, except that Subtenant shall pay to Sublandlord the base rent under the Master Lease. In addition, Sublessee shall pay, as and when first monthly installment of Rent due under this Sublease, upon the Master Lease, execution of this Sublease by both Sublandlord and Subtenant.
(ac) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee If Subtenant shall have no obligation fail to pay any portion installment or other payment of any such fees, costs, charges, penalties Rent or other consideration sums payable hereunder when due, interest shall accrue (and shall be paid in connection with Sublessor’s exercise of any to Sublandlord immediately upon demand) on such early termination right installment or optionpayment as a late charge, and that Sublessor reserves from the right to exercise any date such express early termination right installment or option held by Sublessor under payment became due until the Master Lease notwithstanding anything to the contrary contained in this Sublease)date paid, and (b) all costs directly incurred by or at the request rate of Sublessee with respect to its use of the Premises. five percent (5%) per annum.
(d) All amounts required due under this Sublease are to be paid to Sublandlord (or its designees) in lawful money of the United States by Sublessee under this Sublease other than Base Rent shall be deemed additional rentfederal funds wire transfer or by good and sufficient check, subject to collection, drawn on a bank which is a member of the Federal Reserve System or a successor thereto.
Appears in 1 contract
Samples: Sublease Agreement (Nuvectra Corp)
Rent. Sublessee II.1 Throughout the term of this Lease, Tenant shall pay Sublessor to or upon the order of Landlord base rent ("Rent") as rent follows:
(a) for the Premises (“Base Rent”) its pro rata share (based period beginning on the ratio Commencement Date and ending on April 15, 2002, Rent shall be payable in monthly installments of Forty Thousand Nine Hundred Ninety and 00/100 Dollars ($40,990.00); and
(b) from and after April 15, 2002 and on each one (1) year anniversary of April 15, 2002 (including during the square footage of First Extended Term, the Premises to Second Extended Term and the square footage of Third Extended Term) (the Master Premises (its “Pro Rata Share”"Anniversary")) of the rent payable under the Master Lease, together Rent shall be adjusted in accordance with this Section 2.1(b). During such period, Rent shall be an amount equal to Sublessee’s pro rata share $40,990.00 multiplied by the Escalation Factor (based hereinafter defined). For the purposes hereof, the Escalation Factor shall be calculated by subtracting an amount equal to the Consumer Price Index of the Bureau of Labor Statistics of the U.S. Department of Labor for Los Angeles-Riverside-Orange County, California (the "CPI") for April, 1999 from the CPI for the month and year of the Anniversary. The difference shall be added to or subtracted from, as the case may be, the number one (1), which sum shall be the Escalation Factor. The new Rent so calculated shall be payable in accordance with this Article II. The first monthly installment of Rent, or a prorated portion thereof in the event the Commencement Date is not on the ratio of square footage first day of the Premises (excluding month, shall be paid to Landlord on the Shared Areas) to the square footage Commencement Date. Thereafter, each monthly installment of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Rent shall be due and payable within thirty on the first day of each successive month during the term.
II.2 All sums due Landlord hereunder (30including Rent and additional rent as herein provided) days of delivery by shall be paid at Landlord's address as first above written, or at such other place as Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor may designate in writing from time to time. Such Base Rent All sums due Landlord shall increase from time be paid without deduction, set-off, discount or abatement, except as otherwise provided herein and as permitted pursuant to time based on increases the Assets Purchase Agreement, in lawful money of the base rent under the Master LeaseUnited States. In addition, Sublessee Each payment of sums due Landlord hereunder which shall pay, as and not be paid when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.bear
Appears in 1 contract
Samples: Lease (Ivex Packaging Corp /De/)
Rent. Sublessee Lessee shall pay Sublessor as Lessor rent for the Premises (“Base Rent”) its pro rata share (based on the ratio use of the square footage of Cars in the Premises aggregate amounts specified in the Schedule, and all other amounts payable pursuant to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master this Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand. Each Schedule constitutes a non-cancellable net lease, at and Lessee's obligation to pay rent, and otherwise to perform its obligations under this Lease, each Schedule and all of the address indicated other documents and agreements entered into in connection herewith (the "Lease Documents"), are and shall be absolute and unconditional and shall not be affected by Sublessor in writing from time to timeany right of setoff, counterclaim, recoupment, deduction, defense or other right which Lessee now has or hereafter may have against Lessor, the manufacturer or vendor of the Cars, or anyone else, for any reason whatsoever. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, is payable as and when specified in the Schedule by mailing the same to Lessor at its address specified pursuant to this Lease; and shall be effective upon receipt. Time is of the essence. If any rent is not paid on the due date, Lessor may collect, and Lessee agrees to pay, a charge (the "Late Charge") calculated as the product of the late charge rate specified in the Schedule (the "Late Charge Rate") and the amount in arrears for the period such amount remains unpaid. Lessor expressly acknowledges and agrees that nothing contained in this Section 2 shall constitute a waiver by the Lessee of any of its rights under the Master this Lease, (a) the Schedule or any of the other Lease Documents or of its Pro Rata Share of all operating expenses, taxes, insurance right to assert and other costs payable under the Master Lease, but specifically excluding xxx upon any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor claims it may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have against Lessor or any other person in one or more separate actions so long as such claims or actions in no way diminish or discharge Lessee's obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or optionrent, and that Sublessor reserves the right otherwise to exercise any such express early termination right or option held by Sublessor perform its obligations under the Master Lease notwithstanding anything to the contrary contained in this Sublease)Documents without any right of setoff, and (b) all costs directly incurred by counterclaim, recoupment, deduction, or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentdefense.
Appears in 1 contract
Samples: Railcar Lease Agreement (Pacer International Inc/Tn)
Rent. Sublessee shall SECTION 2.1 In consideration of the leasing aforesaid, Lessee hereby covenants and agrees to pay Sublessor Lessor c/o Waste Management, Inc., 3001 Xxxxxxxxxxx Xxxx, Oak Brook, Illinois, or at such other place as rent the Lessor may from time to time designate in writing, aggregate rental of [Omitted; filed separately with the Securities and Exchange Commission] for the Premises term of this Sublease (“Base Rent”sometimes herein referred to as the "rent") its pro rata share (based payable monthly in installments of [Omitted; filed separately with the Securities and Exchange Commission] each on the ratio first day of each and every month of the square footage term hereof beginning May 1, 1997. However, if the term of this Sublease shall commence on a date other than the first day of a calendar month or end on a day other than the last day of a calendar month, the first and last month's rent shall be prorated based upon the ratio that the number of days in the term within such month bears to the total number of days in such month. In the event that Lessor makes any capital improvements to the Premises which are required in connection with the continued operation at the Premises of an incinerator or autoclave for the treatment of medical waste (or which are required to be made by Lessor under Section 4.2 of this Sublease) and as a result the "net book value" of the Premises to is increased, the square footage of the Master Premises (its “Pro Rata Share”)) of the monthly rent payable under this Sublease shall be increased to reflect the Master Lease, together resulting increases in the monthly capital charge (at [omitted; filed separately with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage Securities and Exchange Commission] % per annum) and monthly depreciation in respect of the Premises (excluding Premises. This increase in the Shared Areas) monthly rent shall be determined in a manner consistent with the determination of the initial monthly rent as shown by the "Monthly Total" on Schedule 4 to the square footage Asset Purchase Agreement dated December 20, 1996 (the "Asset Purchase Agreement") entered into by Lessee, Waste Management, Inc. ("WMI") and certain subsidiaries of WMI.
SECTION 2.2 Lessee agrees to pay in addition to the rent herein reserved, all sums which may become due by reason of the Master Premises (excluding failure of Lessee to comply with all the Shared Areas)covenants of this Sublease and any and all damages, costs, expenses and impositions which Lessor may suffer or incur by reason of any default of the Lessee or failure on its part to comply with all the covenants of this Sublease, and each of them.
SECTION 2.3 Upon the signing of this Sublease, Lessee shall pay to Lessor the first month's rent payable and as a security deposit the sum of [Omitted; filed separately with the Securities and Exchange Commission], which shall secure the various covenants of Lessee under this Sublease, including payment of rent. Lessor shall keep such security deposit and shall return the Master Lease with respect same to the Shared Areas. Such amounts shall be due and payable Lessee within thirty (30) days of delivery by Landlord the termination of an invoice thereforLessee's tenancy hereunder, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Leaseinterest. In additionthe event that Lessee shall breach any provision of this Sublease which may be cured through the payment of money, Sublessee or the hiring of services, Lessor shall paybe entitled to so cure, as using the Lessee's security deposit, and when due under upon written notice to Lessee, Lessee shall within twenty-one (21) days replenish the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior security deposit to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentsum set forth above.
Appears in 1 contract
Samples: Sublease Agreement (Stericycle Inc)
Rent. Sublessee 3.01. Tenant shall pay Sublessor as rent the Fixed Rent in equal monthly installments in advance on the first day of each and every calendar month during the Term (except that Tenant shall pay, upon the execution and delivery of this Lease by Tenant, the Advance Rent, to be applied against the first installment or installments of Fixed Rent becoming due under this Lease). If the Commencement Date occurs on a day other than the first day of a calendar month, the Fixed Rent for the Premises (“Base Rent”) its pro rata share (based on partial calendar month at the ratio commencement of the square footage Term shall be prorated.
3.02. The Rent shall be paid in lawful money of the Premises United States to Landlord at its office, or such other place, or Landlord's agent, as Landlord shall designate by notice to Tenant. Tenant shall pay the Rent promptly when due without notice or demand therefor and without any abatement, deduction or setoff for any reason whatsoever, except as may be expressly provided in this Lease. If Tenant makes any payment to Landlord by check, same shall be by check of Tenant and Landlord shall not be required to accept the check of any other Person, and any check received by Landlord shall be deemed received subject to collection. If any check is mailed by Tenant, Tenant shall post such check in sufficient time prior to the square footage date when payment is due so that such check will be received by Landlord on or before the date when payment is due. Tenant shall assume the risk of lateness or failure of delivery of the Master Premises (its “Pro Rata Share”)) mails, and no lateness or failure of the rent payable mails will excuse Tenant from its obligation to have made the payment in question when required under the Master this Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas.
3.03. Such amounts shall be due and payable within thirty (30) days of delivery No payment by Tenant or receipt or acceptance by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at a lesser amount than the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base correct Rent shall be deemed additional rentto be other than a payment on account, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance or pursue any other remedy in this Lease or at law provided.
3.04. If Tenant is in arrears in payment of Rent, Tenant waives Tenant's right, if any, to designate the items to which any payments made by Tenant are to be credited, and Landlord may apply any payments made by Tenant to such items as Landlord sees fit, irrespective of and notwithstanding any designation or request by Tenant as to the items to which any such payments shall be credited.
Appears in 1 contract
Samples: Lease (Lower Road Associates LLC)
Rent. Sublessee 3.01 Tenant shall pay Sublessor to Landlord without notice or demand and without abatement, deduction, or setoff, in lawful money of the United States of America, at the office of the Landlord as rent specified on Page 1 hereof or at such other place as Landlord may designate, the Fixed Rent reserved under this Lease for each year of the Term, payable in equal monthly installments in advance due on the first day of each and every calendar month during the Term; and Additional Rent consisting of all such other sums of money as shall become due from and payable by Tenant to Landlord hereunder (for default in payment of which Landlord shall have the same remedies as for a default in payment of Fixed Rent).
3.02 If the Commencement Date shall occur on a day other than the first day of a calendar month, the Fixed Rent and Additional Rent shall be prorated for the Premises (“Base Rent”) its pro rata share (based on period from the ratio Commencement Date to the last day of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts said calendar month and shall be due and payable on the Commencement Date. Notwithstanding the provisions of this Article 3, Tenant shall pay on the execution of this Lease, on account of the first full calendar monthly installments of Fixed Rent, the Rent Prepayment specified in Article 1 hereof.
3.03 If Tenant shall fail to pay any installment or payment of Fixed Rent, including the Electric Energy Charge, within thirty ten (3010) days after same shall become due and payable or shall fail to pay any payment of delivery Additional Rent or other charge within ten (10) days after same shall be due and payable, then Tenant shall be required to pay a late charge of $.05 for each $1.00 which remains so unpaid. Such late charge is intended to compensate Landlord for additional expenses incurred by Landlord in processing such late payments. Nothing herein shall be intended to violate any applicable law, code, or regulation, and in all instances all such charges shall be automatically reduced to any maximum applicable legal rate or charge. Such charge shall be imposed monthly for each late payment. This late charge is in addition to all other remedies available to Landlord and shall not be considered as limiting other remedies Landlord may have under this Lease or under law.
3.04 It is hereby mutually agreed, that notwithstanding anything to the contrary herein contained, the said premises are demised for a Fixed Rent of an invoice thereforOne Million One Hundred Thirty-five Thousand Two Hundred Sixty-five Dollars & 08/100 ($1,135,265.08) for the entire said term payable at the time of the making of this Lease, together with Additional Rent consisting of all such other sums of money that shall become due from and payable by Tenant to Landlord, and that the provisions herein contained for the payment of said Fixed Rent in installments are for the convenience of Tenant only, and that, upon default in payment of the Fixed Rent and/or Additional Rent in installments as herein allowed, and if such default shall continue for five (5) days after written notice thereof by Landlord to Tenant, then the whole of the Fixed Rent hereby reserved for the whole of the said entire term and then remaining unpaid shall at once become due and payable, without deduction or offset and without prior further notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In additionthe event Tenant shall be required to pay the Fixed Rent reserved for the balance of the term of this Lease in advance as specified herein, Sublessee the Tenant shall, nevertheless, still be obligated to pay all Additional Rent consisting of all such other sums of money that shall pay, as be due from and payable by Tenant to Landlord herein when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding as provided for herein.
3.05 If Landlord shall fail to submit any fees, costs, charges statement or other consideration paid notice to Tenant or payable by Sublessor omit to Master Lessor in connection with Sublessor’s exercise demand the payment of any termination right Fixed Rent, Additional Rent, or option that Sublessor may have under the Master Lease other sums required to terminate the Master be paid by Tenant to Landlord provided for in this Lease prior to the expiration of the then-scheduled term Lease term, such failure or omission shall not constitute a waiver of the Master Lease (it being understood that Sublessee shall have no Tenant's obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right sums to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding Landlord.
3.06 Notwithstanding anything to the contrary contained herein and provided that Tenant is not then in this Sublease)default hereunder, and (b) all costs directly incurred by or at the request of Sublessee with respect to its use Fixed Rent, exclusive of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Electric Energy Charge and any Additional Rent payable hereunder, shall be deemed additional rentabated for the second and third months of the Lease.
Appears in 1 contract
Rent. Sublessee A. Subject to the completion of the Improvements, receipt of a certificate of occupancy, and subject to acceptance of the improved Premises by COUNTY, COUNTY shall pay Sublessor as rent to LANDLORD the following monthly rental payments in arrears on the last day of each month, commencing when the term commences, continuing during the term: Commencement thru , 20 - monthly payments of $ . , 20 thru , 20 - monthly payments of $ . , 20 thru , 20 - monthly payments of $ . , 20 thru , 20 - monthly payments of $ . , 20 thru , 20 - monthly payments of $ .
B. Rent for the Premises (“Base Rent”) its pro rata share (any partial month shall be prorated based on the ratio actual number of days of the square footage of month. LANDLORD shall accept all rent and other payments from COUNTY under this Lease via electronic funds transfer (EFT) directly deposited into the LANDLORD’s designated checking or other bank account. LANDLORD shall promptly comply with directions and accurately complete forms provided by COUNTY required to process EFT payments.
C. If the COUNTY has accepted the Premises as Substantially Completed with minor corrections and/or additions remaining to the square footage of the Master Premises be completed, only eighty percent (its “Pro Rata Share”)80%) of the rent payable under monthly rental will be paid to LANDLORD, and the Master Lease, together with an amount equal to Sublessee’s pro rata share remaining twenty percent (based on the ratio of square footage 20%) of the Premises (excluding monthly rental will accrue from the Shared Areas) Commencement Date of this Lease but will not be paid to LANDLORD until all such minor corrections and/or additions have been completed and accepted by COUNTY. If the COUNTY withholds monthly rental payments under this subparagraph, the COUNTY will not be in default and no interest or service charges will be added to the square footage amounts due LANDLORD upon completion of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areasminor corrections and/or additions. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required The minor corrections and/or additions remaining to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentcompleted are subject to subparagraph 13B, MAINTENANCE.
X. XXXXXXXX agrees and has registered through the San Bernardino County’s Electronic Procurement Network (ePro) system at https:/xxxx.xxxxxxxx.xxx/xxxx/.
Appears in 1 contract
Samples: Lease Agreement
Rent. Sublessee Tenant covenants to pay to Landlord at New Castle Corporate Commons, 00 Xxxxxxxxx Xxxxxx, Xxxxx 000, Xxx Xxxxxx, Xxxxxxxx 00000 or at such place as Landlord shall pay Sublessor as from time to time direct, the basic rent ("Basic Rental") of Five Hundred Seventy-Eight Thousand Seven Hundred Thirty-Six and No/100 Dollars ($578,736.00) per year during the term of this Lease. Such Basic Rental shall be payable in equal monthly installments of Forty-Eight Thousand Two Hundred Twenty-Eight and No/100 Dollars ($48,228.00) each, in advance and without demand, on the first day of each and every month during the term of this Lease, commencing on the Commencement Date and at that rate for any fraction of a month at the beginning of the term of this Lease. It is understood and agreed that the rental payments f or the first five (5) months after the Commencement Date shall be waived. In addition, Landlord acknowledges that Tenant has previously paid to Landlord the sum of Five Thousand and No/100 Dollars ($5,000.00) which was applied to the cost of construction drawings for the Premises (“Base Rent”) its pro rata share (based on Premises, and said amount shall be credited to the ratio First and Last Month's Rent referenced in Paragraph 5.
A. Tenant covenants to pay when due, without any abatement deduction or set-off except as provided for in this Paragraph 3., the rent provided for herein and to pay as additional rent when due all other sums, costs, charges and expenses payable by Tenant under this Lease, and, in the event of any nonpayment thereof, such sums shall be collected as rent, and Landlord shall have all the square footage rights and remedies provided for herein or by law in the case of nonpayment of rent.
B. Landlord shall not be liable to Tenant if Landlord does not deliver possession of the Premises to Tenant after ninety (90) calendar days from the square footage full execution of this Lease Agreement if Landlord is delayed in completing Tenant Improvements as defined in Paragraph 2 (except for punch list items referenced in Paragraph 12.A., as a result of:
(1) The performance by any person, firm or corporation (other than Landlord's contractor) employed at Tenant's request and the completion of work by said person, firm or corporation;
(2) Delay in delivery of materials, finishes, or installations requested by Tenant except those set forth in Exhibits C-1, C-2 and C-3, and other than materials, finishes and installation used as Building Standard items by Landlord's contractors in the building; and
(3) Any other delay (including, without limitation, delay in providing necessary approvals or disapprovals required of Tenant) caused by the action or inaction of Tenant provided Landlord gives Tenant notice and opportunity to eliminate the cause of the Master Premises delay; and Tenant shall not be relieved of its obligations to pay rent as prescribed in Paragraph 3. If the Commencement Date shall be delayed beyond ninety (its “Pro Rata Share”)90) calendar days from the full execution of the rent payable under the Master Lease, together with an amount equal this Lease Agreement due to Sublessee’s pro rata share (based on the ratio of square footage Landlord's failure to deliver possession of the Premises in accordance with Paragraph 1.B., Tenant shall receive a two (excluding the Shared Areas2) day rental allowance for every one (1) day after such ninety (90) calendar days. In addition to the square footage foregoing, Tenant shall have the option to terminate this Lease Agreement if Landlord fails to deliver possession of the Master Premises after one hundred twenty (excluding 120) calendar days from the Shared Areas)full execution of this Lease Agreement by giving written notice to Landlord, which termination shall take effect upon the giving of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentnotice.
Appears in 1 contract
Samples: Lease Agreement (Sync Research Inc)
Rent. Sublessee shall During the Term, Xxxxxx will pay Sublessor as rent to Landlord the Rent and Additional Charges in lawful money of the United States of America and legal tender for the Premises (“payment of public and private debts, in the manner provided in Section 3.3. The Base Rent”) its pro rata share (based Rent ACTIVE/119768607.18 during any Lease Year is payable in advance in consecutive monthly installments on the ratio fifth (5th) Business Day of each calendar month during that Lease Year and the Percentage Rent during any Lease Year is payable in advance in consecutive monthly installments on the fifth (5th) Business Day of each calendar month during that Lease Year; provided that during the first three (3) months of each Percentage Rent Reset Year the amount of the square footage Percentage Rent payable monthly in advance shall remain the same as in the then preceding Lease Year, and provided, further, that Tenant shall make a payment to Landlord (or be entitled to set off against its Rent payment due) on the fifth (5th) Business Day of the Premises fourth (4th) calendar month of such Lease Year in the amount necessary to “true-up” any Percentage Rent payments not yet (or overpayments having been) made for such three (3) month period; provided, further, that Tenant shall be entitled to set off against a Rent payment due hereunder any rent payments made by Xxxxxx’s Parent or one of its Subsidiaries to third-party lessors (and not previously set off) under leases (or subleases) existing on the square footage of Commencement Date, which leases (or subleases) are related to any Facility subject to this Master Lease or provide access or other similar rights to such Facility, if such lease (or sublease) has not been transferred to Landlord either (i) solely because the Master Premises requisite consents to transfer have not been obtained or (its “Pro Rata Share”)ii) of because the rent payable under such lease is satisfied through the Master Leasepayment of local development taxes, together with an amount equal fees or other amounts paid by Tenant (provided that, in each case, Tenant shall certify to Sublessee’s pro rata share Landlord in writing on a periodic basis as reasonably requested by Landlord the applicable lease (based on or sublease) and third-party lessor and include reasonable detail regarding the ratio of square footage amounts paid thereunder). Unless otherwise agreed by the parties, Rent and Additional Charges shall be prorated as to any partial months at the beginning and end of the Premises (excluding the Shared Areas) to the square footage Term. The parties will agree on an allocation of the Master Premises (excluding Base Rent on a declining basis for federal income tax purposes within the Shared Areas), 115/85 safe harbor of Section 467 of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days Code, assuming a projected schedule of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in for this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentpurpose.
Appears in 1 contract
Rent. Sublessee Tenant covenants and agrees to pay Landlord, for the demised premises, rent at the following rates and times:
(a) Tenant shall pay Sublessor to Landlord the sum of four percent (4%) of Gross S&L Revenues, as rent hereinafter defined. Said sums shall be payable on or before September 15 of each year during the term of this Lease and shall be determined with reference to the Gross S&L Revenues actually received by Tenant for its preceding 12-month fiscal year ended July 31. Rent shall be prorated for any partial year included in the term.
(b) The payment by Tenant to Landlord shall be accompanied by a statement of Tenant's Chief Financial Officer setting forth the Gross S&L Revenues actually received by Tenant for the Premises (“Base Rent”) its pro rata share (based on period involved and the ratio method of computing the square footage of the Premises amount, if any, simultaneously being paid by Tenant to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Landlord in such detail as Landlord and Tenant shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases reasonably agree. The term "Gross S&L Revenues" shall mean any and all revenues determined in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection accordance with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior generally accepted accounting principles attributable to the expiration use or ownership of the then-scheduled term of leased premises and any additional property owned by the Master Lease (it being understood that Sublessee shall have no obligation to pay Tenant, or its successors or assigns or any portion affiliates of any such feesparties, costsnow or at any time in the future used and operated on an integrated basis as a part of what is now known as the Wolf Mountain Ski Resort or any successor thereto (including without limitation, any of the land included in Section 25.06 below and any of the property designated on the Parcel Maps as [UPC Mines, Lehmer, BLM, Sun Peak, X. Xxxxxxxx, UWSP and Hi Ute Ranch]), or from any buildings, lodges, restaurants, sports facilities, condominium units, lifts or other structures located thereon, including without limitation, any sales, charges, penalties dues, rentals, concessions, fees, or other consideration paid in connection with Sublessor’s exercise of any such early termination right or optionrevenues relating thereto, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.excluding only:
Appears in 1 contract
Rent. Sublessee 1. Rent and other charges due and payable hereunder shall accrue hereunder from the Rent Commencement Date until the termination: of this Lease and shall be payable at the following address: c/o First Management Services, 000 Xxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxx, Xxxxxxxxx 00000, or to such other address as Landlord shall direct in writing.
2. Tenant shall pay Sublessor as rent for to Landlord the Premises Minimum Guaranteed Rent in twelve (“Base Rent”12) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areasmonthly installments. Such amounts The first such monthly installment shall be due and payable within thirty with execution of this Lease and a like installment, subject to increases as specified in Section 1.7, shall be due and payable without notice on or before the first day of each succeeding calendar month during the Term. The covenant of Tenant to pay all rents hereunder is and shall be deemed a separate and independent covenant and Tenant shall have no right of deduction or setoff whatsoever.
3. The term Tenant's Gross Sales as used herein, shall be deemed to mean the gross proceeds from business done in or from the Premises, including without limiting the generality of the foregoing, the entire sales price of merchandise, (30including gift and merchandise certificates) days uncollected or uncollectible: credit amounts. Tenant's Gross Sales shall not be deemed to include: (a) any sums collected from customers and paid by Tenant directly to the governmental authority or to a member of delivery the Federal Reserve Bank System for the benefit of the government authority; (b) the exchange of merchandise with other stores of Tenant, if such exchange is made solely for the convenient operation of the business of Tenant and not for the purpose of consummating a sale which was made on or from the Premises and if such exchange of merchandise is not for the purpose of depriving Landlord of the benefit of a sale that otherwise would be on or from the Premises; (c) the amount of returns to suppliers or manufacturers; (d) the amount of any cash or credit refund made upon any sale if the merchandise sold, or some part thereof, is returned by Tenant's customer and accepted by Tenant; nor (e) sales of Tenant's fixtures not in the ordinary course of Tenant's business. For purpose of this Section 3.4, the term "Tenant" shall include any of the Tenant's subtenants, concessionaires and licensees.
4. The Security Deposit shall be held by Landlord without liability for interest and as security for the performance by Tenant of an invoice thereforTenant's covenants and obligations under this Lease, without deduction it is expressly understood that such deposit shall not constitute any advance payment of rent or offset and without prior notice a measure of Landlord's damages in case of default by Tenant. Upon the occurrence of any Event or demandDefault under this lease, at the address indicated by Sublessor in writing Landlord may, but shall not be obligated to, from time to time. Such Base Rent shall increase from time , without prejudice: to time based on increases in any other remedy, use all or any portion of the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior Security Deposit to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation extent Landlord deems necessary or appropriate to pay any portion of amount owed by Tenant to Landlord. Following, any such feesapplication of the Security Deposit, costsTenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. If Tenant is not then in default hereunder, chargesany remaining balance of the Security Deposit shall be returned by Landlord to Tenant upon termination of this Lease. If Landlord transfers its interest in the Premises during the Lease Term, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves Landlord may assign the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything Security Deposit to the contrary contained in this Sublease)transferee and, and (b) all costs directly incurred upon assumption by or at the request said transferee of Sublessee liability to Tenant for said Security Deposit, said transferring Landlord shall have no, farther liability to Tenant with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentSecurity Deposit.
Appears in 1 contract
Samples: Lease Agreement (800america Com Inc)
Rent. Sublessee Tenant, in return for the use and occupancy of the Leased Premises and in consideration of the terms, conditions, covenants and provisions contained herein, shall pay Sublessor as Landlord the rent owed for the Premises Term in 12 equal installments (each an “Base RentInstallment”) of $«monthly_charge_total», which shall be paid in advance, without notice, demand, offset or reduction (the "Rent"). While Landlord has no obligation to do so and may refuse to do so, Landlord may accept partial payment of Tenant’s Rent or other payment obligations, but if it so elects, Landlord does not waive its pro rata share (right to collect and demand the payment of the remainder of such obligations or enforce Tenant’s default hereunder due to failure to pay such amounts in full. Tenant hereby acknowledges that the Term of this Lease is less than a full calendar year, and the Rent has been allocated into 12 equal installments and is not based on the ratio a daily or calendar month basis. The first installment of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master LeaseRent shall be due on August 1, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts 2017 and each subsequent installment shall be due and payable within thirty (30) days on the first day of delivery by Landlord each month. The last installment of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time be due on July 1, 2018. All payments should be made via the internet through Landlord’s Resident Portal. If payment via Landlord’s Resident Portal is not feasible, payment should be tendered directly to time based on increases the Agent’s office in the base rent under Neighborhood. Tenant and any Co- Lessee acknowledge and understand Landlord may refuse other forms of payment, subject to Prevailing Law. Tenant and Co-Lessee acknowledge Landlord will not waive late fees for any payments due to failure of such parties understanding how to submit payments through the Master Lease. In addition, Sublessee shall pay, as Resident Portal and when due under therefore Tenant and Co-Lessee are encouraged to be familiar with the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease Resident Portal prior to the expiration date the first Rent payment is due. Upon receipt of payment, Landlord will provide a written receipt with the date, amount paid, premises, time period covered and the signature and title of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such feesperson receiving payment. A written receipt is not required when payment is tendered via personal check absent written request for a receipt. If Rent is not timely paid, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor Landlord reserves the right to exercise any such express early termination right require Tenant to pay all Rent and late fees by cashier's check or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentmoney order.
Appears in 1 contract
Samples: Lease Agreement
Rent. Sublessee shall 9.1 Lessee covenants and agrees to pay Sublessor as rent Lessor, monthly in arrears, with respect to the Aircraft, Base Rent for the Premises (“Term on each Base Rent Payment Date in the amounts set forth in the Lease Rent Schedule, which by this reference is incorporated herein.
9.2 Notwithstanding the expiration, cancellation or other termination of Lessee's obligation to pay Base Rent hereunder, Lessee agrees to pay to Lessor, or to any other Person entitled thereto, any and all Supplemental Rent promptly as the same becomes due and owing. If Lessee fails to pay any Supplemental Rent, Lessor or such other person entitled thereto shall have the rights, powers and remedies provided for herein or in any other Lessee Document, or by law or in equity or otherwise as if Lessee has failed to pay Base Rent”) its pro rata share (based .
9.3 All payments of Rent as required by this SECTION 9 and any and all other payments to Lessor shall be paid in immediately available funds without Abatement on the ratio date such Rent is due, by wire transfer to Lessor's account with Skandinaviska Enskilda Banken, New York Branch, 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, 00000, account number 00000000, or such other place in the United States as Lessor may, from time to time, designate.
9.4 Any payment provided herein due on any day not a Business Day shall be payable on the next preceding Business Day. No payment of Rent may be prepaid by more than ten (10) days without the prior written consent of Lessor.
9.5 THIS LEASE IS A NET LEASE, AND LESSEE ACKNOWLEDGES AND AGREES THAT LESSEE'S OBLIGATION TO PAY ALL RENT HEREUNDER, AND THE RIGHTS OF LESSOR IN AND TO SUCH RENT, SHALL BE ABSOLUTE AND UNCONDITIONAL AND SHALL NOT BE SUBJECT TO ANY ABATEMENT, REDUCTION, SET-OFF, DEFENSE, COUNTERCLAIM OR RECOUPMENT ("ABATEMENTS") FOR ANY REASON WHATSOEVER, INCLUDING, WITHOUT LIMITATION, ABATEMENTS DUE TO ANY PRESENT OR FUTURE CLAIMS OF LESSEE AGAINST LESSOR UNDER THIS LEASE OR OTHERWISE, AGAINST SAAI OR ANY VENDOR OR MANUFACTURER, OR AGAINST ANY OTHER PERSON FOR WHATEVER REASON, INCLUDING, WITHOUT LIMITATION: (A) any default, misrepresentation, negligence, gross negligence, misconduct, willful misconduct or other action or inaction of any kind by Lessor, any manufacturer or seller of any component of the square footage Aircraft or any other Person, or any set-off, counterclaim, recoupment, defense or other right which Lessee may have against Lessor, the manufacturers or anyone else for any reason whatsoever, (B) any defect in the title, airworthiness, condition, design, operation or fitness for use of, or any Lien or other restriction of any kind upon, all or any component of the Premises Aircraft, or any damage to or loss or destruction of, any part of the Aircraft or any interruption or cessation in the use or possession thereof by the Lessee for any reason whatsoever, (C) any insolvency, bankruptcy, reorganization or similar proceedings by or against Lessor, any manufacturer or seller of any component of the Aircraft, Lessee or any other Person, (D) any breach by Lessor of any representation, warranty or covenant of Lessor made herein or in connection herewith, (E) the invalidity or lack of enforceability or lack of due authorization or other infirmity of this Lease or the lack of right, power or authority of Lessor to enter into this Lease, or (F) any other circumstance, happening or event whatsoever, whether or not similar to any, of the foregoing. Except as otherwise provided herein, Lessee hereby waives, to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master extent permitted by Applicable Law, any and all rights which it may now have or which at any time hereafter may be conferred upon it, by statute or otherwise, to terminate, cancel, quit or surrender this Lease, together with except as herein specifically provided or otherwise agreed between the parties hereto. If for any reason whatsoever this Lease shall be terminated in whole or in part by operation of law, except as specifically provided herein, Lessee nonetheless agrees to pay to Lessor an amount equal to Sublessee’s pro rata share (based on each installment of Base Rent at the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be time such installment would have become due and payable within thirty (30) days in accordance with the terms hereof had this Lease not been terminated in whole or in part. Each payment of delivery Rent made by Landlord Lessee shall be final and Lessee shall not seek to recover all or any part of an invoice thereforsuch payment from Lessor for any reason whatsoever. Nothing in this SECTION 9.5 shall be construed to preclude Lessee from bringing any suit at law or in equity which it would otherwise be entitled to bring for breach of any representation, without deduction warranty, covenant or offset and without prior notice or demandduty hereunder.
9.6 In the event Lessee shall fail to pay any Rent when due hereunder, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee Lessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration extent permitted by law, to Lessor or to such other Person entitled thereto, upon demand, as Supplemental Rent, interest on such amount from the due date thereof to the date paid at a rate per annum (computed on the basis of a 365- or 366-day year, as the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or optioncase may be, and that Sublessor reserves actual number of days elapsed, including the right to exercise any such express early termination right or option held by Sublessor under first day but excluding the Master Lease notwithstanding anything last day) equal to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentOverdue Rate.
Appears in 1 contract
Samples: Aircraft Lease Agreement (Republic Airways Holdings Inc)
Rent. Sublessee Rent, percentage rent and reimbursements for common area maintenance charges, insurance premiums and other lease charges (other than real estate taxes and assessments, which shall pay Sublessor be accounted for and prorated as provided in Section 1.2.2)(collectively, "RENTS") shall be accounted for and prorated as follows: except as otherwise provided in this Agreement, Inland Affiliate shall be entitled to all Rents accruing from (including)and after the Closing Date, regardless of when paid or collected, and all such items, if any, accruing prior to the Closing Date, regardless of when paid or collected, shall be deposited and paid as follows: seventy-five percent (75%) of such amount shall be deposited to the Operations Reserve and the balance shall be paid to Withdrawing Member (pursuant to the wire instructions of Euram, Inc. as set forth on EXHIBIT "1.5" hereto) contained in the Escrow Agreement. Thus if the Closing Date is September 15, 2004, one-half of the minimum rent collected for the month of September, 2004 will be credited to Inland Affiliate and the balance shall be deposited into the Operations Reserve and paid to the Withdrawing Member, as provided above. The parties further agree that percentage rent for each tenant shall be prorated post closing based upon the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease pre-and post Closing allocations described above. There shall be no credit with respect to any unpaid accrued Rents owing from tenants of the Shared AreasProperty as of the Closing Date. Such Holding Company shall not retain in the Operations Reserve any security deposits or prepaid rent to offset any unpaid accrued rent or other unpaid amounts. With respect to any such unpaid amounts (x) Subsidiary, acting exclusively by and through Cordish Affiliate shall retain the right to xxx the applicable tenant for collection of any such unpaid amounts (provided the costs of suit are funded exclusively from the Operations Reserve) and, to the extent the applicable lease permits, collection costs and interest (and, in such regard, Inland Affiliate agrees to cooperate reasonably with any efforts to collect the aforesaid unpaid amounts; provided, however, Cordish Affiliate shall not be entitled to xxx for possession or terminate any Lease), and provided further that Inland Affiliate shall be reimbursed for any reasonable cost or expense incurred by Inland Affiliate in connection with such cooperation, and Subsidiary, acting exclusively by and through Cordish Affiliate, shall have the right and power to prosecute and settle such suits, and (y) if any such unpaid amounts are collected, such amounts shall be due promptly deposited into the Operations Reserve (and payable within thirty (30) days of delivery by Landlord of an invoice thereforin such regard, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor if any amount is received from a tenant as to which such tenant specifically informs Subsidiary in writing from time to time. Such Base Rent which lease obligation such payment is to be applied, such payment shall increase from time be so applied; if such tenant does not so inform Subsidiary as to time based how a particular payment is to be applied, such payment shall be applied first, on increases in account of amounts owed subsequent to the base rent under the Master Lease. In additionClosing Date; second, Sublessee shall pay, as and when on account of past due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease amounts owed prior to the expiration Closing Date. Any balance remaining in any tenant's common area maintenance escrow account shall be part of the then-scheduled term reconciliation and adjustments between the parties as of the Master Lease Closing Date. Holding Company and Subsidiary shall promptly deliver to Inland Affiliate all Rents received from tenants under Leases, which are attributable to ownership periods beginning on (it being understood that Sublessee shall have no obligation to pay any portion of any such feesand including) and after the Closing Date, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything except to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentextent already included as a credit.
Appears in 1 contract
Samples: Contribution Agreement (Inland Western Retail Real Estate Trust Inc)
Rent. Sublessee (a) Beginning on the earlier to occur of (i) March 10, 2007 and (ii) Subtenant’s beneficial use of the Subleased Premises for the conduct of its business, and continuing through the Sublease Term, including any Extended Term (if applicable), Subtenant shall pay Sublessor as to Sublandlord annual fixed rent for (the Premises (“Base Fixed Rent”) its pro rata share per annum in the amount of One Million Seventy-Three Thousand Four Hundred Seventy-Two and No/100 Dollars (based $1,073,472.00) in advance in equal monthly installments of Eight-Nine Thousand Four Hundred Fifty-Six and No/100 Dollars ($89,456.00), pro-rated on a per diem basis in the ratio case of any partial months during the Term addressed to Sublandlord at the address set forth in this Sublease, Attn: Chief Financial Officer, or such other address set forth in a written notice to Subtenant. Subtenant’s Fixed Rent shall be proportionately adjusted in the event Subtenant leases any Storage Space from Sublandlord.
(b) Except as otherwise set forth herein, each monthly installment shall be payable on or before the first day of the square footage of the Premises calendar month for which such payment is made, without notice or demand and without abatement, set-off or deduction.
(c) In addition to the square footage Fixed Rent and any other sums which Subtenant may be obligated to pay pursuant to any other provision of this Sublease, Subtenant agrees to pay to Sublandlord as “Additional Rent” hereunder as and when such sums are due and payable by Sublandlord under the Master Premises Xxxxxxxxx, or as otherwise hereinafter provided:
(its i) “Expense Adjustment Amount” in an amount equal to 33.15%, (“Subtenant’s Pro Rata Share”)) of the rent amounts payable by Sublandlord on account of Operating Expenses and Real Estate Taxes pursuant to Article 4(A) of the Xxxxxxxxx, which Subtenant’s Pro Rata Share shall be proportionately adjusted in the event Subtenant leases any Storage Space from Sublandlord;
(ii) the cost of all utilities consumed by Subtenant in the Subleased Premises, including but not limited to electricity, natural gas and water, sewer, steam, fire protection, telephone and other communication and alarm services (the “Utility Charges”). Subtenant agrees that Subtenant’s usage of electricity and gas shall be measured by separate sub-meter to be installed by Subtenant, and Subtenant shall pay Subtenant’s Pro Rata Share of all other utilities supplied to the Subleased Premises and not directly billed to Subtenant by the utility provider;
(iii) the Parking Fee (as hereinafter defined in Section 22 hereof);
(iv) all Subtenant Surcharges (as hereinafter defined); and
(v) if pursuant to Section 1 above, Subtenant leases any Storage Space, Subtenant shall pay all Fixed Rent and Additional Rent charged by Landlord in respect of the Storage Space (“Storage Space Charges”).
(d) As used herein, the term “Subtenant Surcharges” shall mean any and all amounts other than the Expense Adjustment Amount, Utility Charges, Parking Fee and the Storage Space Charges which become due and payable by Sublandlord to Landlord under the Master LeaseXxxxxxxxx whether as additional rent or for any extra services or otherwise, together which would not have become due and payable but for the acts and omissions of Subtenant under this Sublease or which are otherwise attributable to the Subleased Premises, including, but not limited to: (i) any increases in the Landlord’s fire, rent or other insurance premiums resulting from any act or omission of Subtenant, (ii) any additional rent under the Xxxxxxxxx payable by Sublandlord on account of Subtenant’s use of other extra services above those provided in Article VII of the Xxxxxxxxx, and (iii) any additional rent under the Xxxxxxxxx payable by Sublandlord on account of any other additional service as may be provided to the Subleased Premises. Notwithstanding the foregoing, Subtenant Surcharges shall not include (i) amounts which relate to the acts or omissions of Sublandlord under the Xxxxxxxxx and not the acts or omissions of Subtenant under this Sublease, (ii) maintenance and repairs with an amount equal respect to Sublessee’s pro rata share (based on the ratio of square footage any non-common areas of the Premises (excluding other than the Shared AreasSubleased Premises); or (iii) Fixed Rent pursuant to the square footage Xxxxxxxxx, and, except as expressly provided in this Sublease, items of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect Additional Rent pursuant to the Shared AreasXxxxxxxxx. Such amounts Subtenant shall be due pay the Additional Rent set forth in subsections (c) and payable (d) of this Section 4 within thirty (30) days after the presentation of delivery statements therefor by the Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time Sublandlord to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentSubtenant.
Appears in 1 contract
Rent. Sublessee Rent, including, without limitation, fixed rent, prepaid rent, and additional rent, if applicable (collectively, “Tenant Charges”), shall pay Sublessor be apportioned as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage Closing Date in accordance with the provisions of this Section 7.
(A) To the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable extent that Tenant Charges under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master a Lease with respect to the Shared Areas. Such amounts month of the Closing have been paid prior to the Closing, the same shall be due prorated as of the Closing Date between Buyer and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time Seller based on increases the number of days during the month in which the base rent Closing Date occurs and Buyer shall be entitled to a credit at Closing for the portion of such payments attributable to the period beginning on the Closing Date. Seller shall retain the right to receive all payments for unpaid Tenant Charges attributable to the period prior to the Closing Date.
(B) All amounts collected by Buyer from Tenants under the Master Lease. In addition, Sublessee Leases after Closing shall pay, as and when due under the Master Lease, be applied (a) its Pro Rata Share first, to the Tenant Charges owed by such tenant with respect to the month in which the Closing Date occurs (subject to apportionment pursuant to Section 7(a)(i)(A) above, (b) second, to any unpaid Tenant Charges accruing under such Leases for the month after the month in which the Closing Date occurs until all such amounts then due have been paid, (c) third, to arrearages of all operating expenses, taxes, insurance and other costs payable under Tenant Charges with respect to the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease month prior to the expiration month in which the Closing Date occurs, (b) fourth, to any unpaid Tenant Charges accruing under such Leases for the period after the Closing Date until all such amounts then due have been paid through the current month as of the then-scheduled term date such Tenant Charges were paid, (c) fifth, to any remaining arrearages of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection Tenant Charges with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything respect to the contrary contained period prior to the month in this Sublease)which the Closing Date occurs, and (bd) sixth, all costs other Tenant Charges collected shall belong to Buyer. If applicable, any Tenant Charges received directly incurred or indirectly by Seller or at Buyer following the request of Sublessee with respect to its use Closing Date which are the property of the Premisesother party hereto shall be paid to the other party hereto within ten (10) Business Days following receipt thereof. All amounts During the twelve (12) month period following Closing, Buyer shall use good faith commercially reasonable efforts (as described below) to recover any Tenant Charges arrearages in respect of the period prior to the Closing Date, provided that Buyer shall not be required to be paid by Sublessee under this Sublease other than Base Rent incur any material cost or commence any legal proceeding in connection therewith and Buyer shall not compromise or settle any such arrearages for Tenant Charges applicable to the period prior to Closing without Seller’s prior written consent. Seller (upon notification to Buyer) shall be deemed additional rententitled to xxx a Tenant, before and/or after Closing, for any delinquent rent (or other Tenant Charges) due to Seller (and not previously paid to Seller) under a Lease, so long as such suit does not seek a termination of such Lease or eviction of such Tenant; (ii) Seller does not bring any such action or claim more than twelve (12) months following the Closing Date (unless any stay has been in effect preventing Seller from bringing such action within such twelve (12) month period); and (iii) such suit solely pertains to Tenant Charges that accrued or claim at any time prior to the Closing Date and which Seller is entitled to hereunder.
(C) Any Tenant Charges prepaid and applicable to the period following the Closing Date shall be credited by Seller to the Buyer on the Closing Date.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Vinebrook Homes Trust, Inc.)
Rent. Sublessee (a) Tenant shall pay Sublessor to Landlord or Lender on behalf of Landlord, if directed by Landlord, as annual rent for the Leased Premises during the Term (“Base "Basic Rent”"), the sum of Seven Million One Hundred Ninety-eight Thousand Four Hundred ($7,198,400) its pro rata share (based dollars during the initial term and the sums set forth on Exhibit "B" for the renewal terms, which rent shall be paid in equal monthly installments in advance commencing on the ratio first Business Day of the square footage of second month next following the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based Commencement Date and continuing on the ratio first Business Day of square footage of each month thereafter during the Premises Term (excluding the Shared Areas) to said days being called the square footage of the Master Premises (excluding the Shared Areas"Basic Rent Payment Dates"), and shall pay the same at NPDC - EY Brea Trust, c/o Cardinal Capital Partners, Inc., 0000 Xxxxxxx Xxxx, 0xx Xxxxx, Xxxxxx, Xxxxx 00000-0000, or at such other place or to such other person on behalf of Landlord as Landlord from time to time may designate to Tenant in writing, in funds which at the rent payable under the Master Lease with respect to the Shared Areas. Such amounts time of such payment shall be due legal tender for the payment of public or private debts in the United States and payable within thirty (30) days of delivery if required by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated Lender by Sublessor wire transfer in writing immediately available federal funds to such account in such bank as Lender shall designate from time to time. Such Base Basic Rent for the period from the Commencement Date to the first day of the second month next following the Commencement Date shall increase from time to time based be paid on increases the date provided as the first payment date under the Qualified Exchange Agreement (as defined in the base rent under Lease Modification Agreement) with respect to this Lease and shall be calculated on a prorata basis.
(b) If any installment of Basic Rent is not paid on the Master date due, Tenant shall pay Landlord interest on such overdue payment at the Default Rate, accruing from the due date of such payment until the same is paid.
(c) Tenant shall pay as and discharge before the imposition of any fine, lien, interest or penalty that may be added thereto for late payment thereof, as Non-Rent Monetary Obligations, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise event of any termination right failure by Tenant to pay or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration discharge any of the then-scheduled term of the Master Lease (it being understood that Sublessee foregoing, Landlord and Lender shall have no obligation to pay any portion all rights, powers and remedies provided herein, by law or otherwise, in the event of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise nonpayment of any such early termination right or option, Basic Rent. Landlord and that Sublessor reserves Lender shall have the right to exercise any make such express early termination right payment, in which case Tenant shall immediately reimburse such payment (including interest at the Default Rate) to Landlord or option held by Sublessor under Lender, as the Master Lease notwithstanding anything case may be. Any Additional Rent or Non-Rent Monetary Obligations payable to Landlord shall be paid in lawful money of the United States to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect party to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base whom Basic Rent shall be deemed additional rentis paid.
Appears in 1 contract
Samples: Lease (Beckman Coulter Inc)
Rent. Sublessee shall 5.1 Tenant agrees to pay Sublessor Landlord as rent Basic Annual Rent for the Premises the sum set forth in Section 2.1.4, subject to the rental adjustments provided in Article 6 hereof. Basic Annual Rent shall be paid in the equal monthly installments set forth in Section 2.1.5, subject to the rental adjustments provided in Article 6 hereof, each in advance on the first day of each and every calendar month during the term of this Lease.
5.2 In addition to Basic Annual Rent, Tenant agrees to pay to Landlord as additional rent (“Base "Additional Rent”") its at times hereinafter specified in this Lease (i) Tenant's pro rata share share, as set forth in Section 2.1.6, of Operating Expenses as provided in Article 7 and (based ii) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including without limitation any and all other sums that may become due by reason of any default of Tenant or failure on Tenant's part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant.
5.3 Basic Annual Rent and Additional Rent shall together be denominated "Rent". Rent shall be paid to Landlord, without abatement, deduction, or offset, except as expressly provided in this Lease, in lawful money of the United States of America, at the office of Landlord as set forth in Section 2.1.10 or to such other person or at such other place as Landlord may from time to time designate in writing. In the event the term of this Lease ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the ratio basis of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within a thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset day month and without prior notice or demand, shall be paid at the address indicated by Sublessor in writing from time to time. Such Base Rent then current rate for such fractional month.
5.4 It is the intent of the parties that Tenant shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) pay its Pro Rata Share share of all operating expenses, taxes, insurance costs and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior expenses relating to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no Premises unless otherwise expressly provided in this Lease. Any amount or obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything herein relating to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required Premises which is not expressly declared to be paid by Sublessee under this Sublease other than Base Rent that of Landlord shall be deemed additional rentto be an obligation of Tenant to be performed by Tenant at Tenant's expense.
Appears in 1 contract
Samples: Lease (Genetronics Biomedical LTD)
Rent. Sublessee shall In consideration of this lease, Tenant promises and agrees to pay Sublessor as rent Landlord the Basic Monthly Rental without demand, deduction or set off, for the Premises (“Base Rent”) its pro rata share (based on the ratio each month of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, entire Lease Term. One such monthly installment together with an amount equal the Security Deposit shall be payable by Tenant to Sublessee’s pro rata share (based on Landlord contemporaneously with the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)execution hereof, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts and a like monthly installment shall be due and payable without demand on or before the first day of each calendar month during the term hereof beginning with the first calendar month following the Commencement Date. Rent for any fractional month at the beginning or end of the Lease Term shall be prorated, with any DIFFERENCES BETWEEN THE PREPAID MONTHLY INSTALLMENT AND THE PRORATED RENT TO BE CREDITED TO THE SECOND MONTHLY INSTALLMENT. The Security Deposit shall be held by Landlord without liability for interest and as security for the performance by Tenant of Tenant's covenants and obligations under this lease, it being expressly understood that such deposit shall not be considered an advance payment of rental or a measure of Landlord's damages in case of default by Tenant. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy, use such deposit to the extent necessary to make good any arrearages of rent and any other damage, injury, expense or liability caused to Landlord by such event of default. Following any such application of the Security Deposit, Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. If Tenant is not then in default hereunder, any remaining balance of such deposit shall be returned by Landlord to Tenant within thirty (30) days of delivery by termination of this lease. If Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases transfers its interest in the base rent under Premises during the Master Lease. In additionLease Term, Sublessee shall pay, as and when due under Landlord may assign the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior Security Deposit to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee transferee and thereafter shall have no obligation to pay any portion further liability for the return of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentSecurity Deposit.
Appears in 1 contract
Rent. Sublessee shall (a) In consideration of the leasing aforesaid, Lessee covenants and agrees to pay Sublessor to Lessor rental (hereinafter referred to as rent "Net Rent") for said Demised Premises in the Premises amount of FIVE HUNDRED SIX THOUSAND and 00/100 DOLLARS (“Base Rent”$506,000.00) its pro rata share per year, payable in monthly installments in advance in the amount of FORTY TWO THOUSAND ONE HUNDRED SIXTY-SIX and 67/100 DOLLARS (based $42,166.67) on the ratio first day of each and every month thereafter, to and including May 1, 1992.
(b) The aforesaid Net Rent shall be in addition to and over and above all other payments and reimbursements to be made by Lessee as hereinafter provided. The Net Rent shall be paid to Lessor without notice or demand and without abatement, deduction or set-off. It is the purpose and intent of Lessor and Lessee that the Net Rent shall be absolutely net to Lessor, so that this Lease shall yield, net, to be absolutely net to Lessor, so that this Lease shall yield, net, to Lessor, the Net Rent specified herein and that all taxes, costs, fees, interest, charges, expenses, reimbursements and obligations of every kind and nature whatsoever relating to the Demised Premises mortgage obligation against the Demised Premises) which may arise or become due during or out of the square footage term of this Lease shall be paid or discharged by Lessee and Lessor shall be indemnified and saved harmless by Lessee from and against such taxes, costs, fees, interest, charges, expenses (including, without limitation all utility expenses), reimbursements and obligations; and in the event of non-payment thereof, Lessor shall have, in addition to all other rights and remedies, all the rights and remedies provided for herein or by law in the case of non-payment of the Premises to the square footage Net Rent.
(c) All rents shall be paid in such lawful money of the Master Premises (its “Pro Rata Share”)) United States of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, America as Lessor may designate in writing at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase or from time to time based on increases during the demised term. Lessee shall pay the Net Rent herby reserved at such place as Lessor may from time to time previously designate in writing, and in the base rent under the Master Lease. In additionabsence of such designation, Sublessee shall payto Ruby North Partnership c/o Xxxxxx X. Xxxxxxxx, as and when due under the Master Lease0000 Xxxxx Xxxx, (a) its Pro Rata Share of all operating expensesXxxxxxx Xxxx, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentXxxxxxxx 00000.
Appears in 1 contract
Rent. Sublessee Tenant shall pay Sublessor Landlord as rent for the Premises ---- (“"Base Rent”") its pro rata share (based on for each month during the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master LeaseTerm, together with an amount equal to Sublessee’s pro rata share the Occupancy Cost of the Premises, including use of the Shared Areas, plus an administrative fee equal to five percent (based on 5%) of such cost. As used herein, "Occupancy Cost" shall refer to (a) the ratio of square footage "triple net" rental value of the Premises (excluding which shall mean the Shared Areas) to management reporting depreciation on the square footage of land, the Master Premises (excluding land improvements, the Shared Areas)building, of the rent payable under building improvements and the Master Lease building-related building equipment with respect to the Shared AreasBuilding, based on Hewlett-Packard Company's methods and procedures as of the date hereof (the "Rental Component")) and (b) a pro rata share of Landlord's actual cost of the following with respect to the Building and property on which the Building is located: Landlord's liability and property insurance, property taxes and assessments, utilities (to the extent not separately metered), maintenance to the common areas and areas for the common benefit of all of the occupants of the Building and other charges reasonably and customarily charged by landlords for similar premises (the "Non-Rental Component"). Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without any deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing Landlord from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, for any period which is for less than one (a1) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration month of the then-scheduled term Term shall be a pro rata portion of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premisesmonthly installment. All amounts required to be paid by Sublessee Tenant under this Sublease Lease other than Base Rent shall be deemed additional rentAdditional Rent (which, collectively with Base Rent, shall be deemed "Rent"). Notwithstanding the provisions of the first two sentences of this section, in the event the Term extends or is extended by agreement of the parties beyond October 31, 2001, unless the parties otherwise expressly agree in writing, Base Rent shall be an amount equal to the Occupancy Cost of the Premises, including the use of the Shared Areas, plus an administrative fee equal to ten percent (10%) of the Non-Rental Component of the Occupancy Cost; provided that the Rental Component shall be equal to the fair market value of the Premises on a "triple net" basis. In such event, the parties shall negotiate in good faith to determine the fair market value of the Premises. In the event the parties are unable to agree upon the fair market value prior to August 1, 2001, the fair market rent shall be determined by three appraisers selected and governed by the rules of the American Arbitration Association.
Appears in 1 contract
Samples: Real Estate Matters Agreement (Agilent Technologies Inc)
Rent. Sublessee The Resident agrees to pay to Manager, in advance at the commencement date (the “Commencement Date”), which shall be the day Resident signs this Lease, and on the first day of every consecutive calendar month thereafter, by personal check, money order, or cashier’s check, the monthly installment of rent set forth on Schedule “A” attached hereto. It is agreed that at no time shall cash be accepted by Manager for payment of rent. Only payment by personal check, money order or cashier’s check will be accepted. No cash shall be paid to Manger. It shall be irrefutably presumed, for purposes of this Lease, that Resident has not paid rent or any of the charges due Manager unless Resident can produce a canceled check or money order proving payment. The rental reserved hereunder shall be payable without set-off, deduction or demand. Rent shall be payable at the offices of the Manager as set forth on Schedule “A,” or at such other place as Manager may at any time hereafter designate in writing to Resident. If a rental payment is not received by Manager by the end of the day on the 4th day after the date the rent is due, Resident shall accrue a late charge of $40.00 on the 4th day of the month and an additional late charge of $5.00 per day for every day thereafter in which the full rental amount plus any late and/or other charges remain unpaid. If Resident’s payment is returned to Manager unpaid for insufficient funds or account closed, or any other reason within the control of Resident, a service charge of $40.00 and thereafter at the option of Manager, all future rent and redemption of any such returned checks shall be payable by cashier’s check or money order only, throughout the balance of the Lease Term. In addition to all other amounts due Manager from Resident, Resident shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio all applicable tax, if any, with each installment of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under this Lease. All such late charges, bad check fees and any other amount(s) due Manager as set forth herein and elsewhere in the Master LeaseLease and/or by Addendum hereto, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage are deemed rent for purposes of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In additionUnless otherwise provided by applicable state statute, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessorresident’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with SublessorRent is an independent covenant and not conditional upon the performance by Owner’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee responsibilities under this Sublease other than Base Rent shall be deemed additional rentLease. UNLESS OTHERWISE PROVIDED BY LAW, RENT MAY NOT BE WITHHELD FOR ANY REASON, EVEN AN ACT OF GOD, OR TOREDUCE ANY RENT PAYABLE TO US BY ANY OF OUR COSTS OR DAMAGES AGAINST US.
Appears in 1 contract
Samples: Apartment Lease Agreement
Rent. Sublessee (a) During the Term, the Tribal Corporation shall pay Sublessor as rent for to Sublessor, at the Premises (“Base Rent”) its pro rata share (based on the ratio address set forth herein and in lawful money of the square footage of the Premises to the square footage of the Master Premises United States, monthly payments (its “Pro Rata Share”)"Sublease Rent") of the rent payable under the Master Lease, together with in an amount equal to Sublessee’s pro rata share the applicable percentage of Net Revenues for the preceding month set forth below:
(i) Twenty-eight percent (28%), until such time as the aggregate Net Revenues which have accrued since the Commencement Date equal $26,000,000; (ii) Twenty-five percent (25%), until such time as the aggregate Net Revenues which have accrued since the Commencement Date equal $41,000,000; and (iii) Twenty-two percent (22%) after such time as the aggregate Net Revenues exceed $41,000,000; provided, however, that in the event that the Tribal Corporation fully repays -------- ------- the Loan before the maturity thereof, the applicable percentage of Net Revenues payable as Sublease Rent shall be reduced from the date of such repayment by three percent (3%); provided, further, that no such reduction shall be made in -------- ------- the applicable percentage of Net Revenues payable as Sublease Rent prior to the fifth anniversary of the Commencement Date.
(b) Rental payments due hereunder shall be payable, in arrears, with the first monthly rental payment due on the twentieth (20th) day of the first complete month following the month in which the Commencement Date occurs, and continuing on the twentieth (20th) day of each month thereafter. Sublease Rent shall be payable solely out of and to the extent of Available Distributable Cash. Sublease Rent which is earned but not paid shall be accrued without interest. Payments of Sublease Rent shall be based on the ratio following priority of square footage payments: (i) principal amounts on the Loan that were previously accrued but unpaid; (ii) principal amounts on the Loan that are currently due and payable; (iii) Sublease Rent that was previously accrued but unpaid; and
(iv) Sublease Rent that is currently due and payable.
(c) All Sublease Rent accrued but unpaid because of insufficient Available Distributable Cash and still unpaid more than thirty-one (31) days after the seventh anniversary of the Premises (excluding Commencement Date or the Shared Areas) to the square footage termination of the Master Premises (excluding Consulting Agreement by reason of a default thereunder by the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts Consultant shall no longer be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentpayable.
Appears in 1 contract
Rent. Sublessee (a) During the Term, the Lessee shall pay Sublessor as rent for the Premises Basic Rent (“Base Rent”i) its pro rata share on each Payment Date, (based ii) on the ratio of date required under Section 20.1(j) if the square footage of Lessee exercises the Premises to the square footage of the Master Premises Sale Option and (its “Pro Rata Share”)iii) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master any date on which this Lease shall terminate or expire with respect to the Shared Areas. Such amounts Leased Property.
(b) The Lessee’s inability or failure to take possession of all or any portion of the Leased Property when accepted or deemed accepted hereunder, whether or not attributable to any act or omission of the Lessee or any act or omission of Lessor, shall not delay or otherwise affect the Lessee’s obligation to pay Rent in accordance with the terms of this Lease.
(c) Lessee shall make a payment of Supplemental Rent to Administrative Agent for the account of Lessor in an aggregate amount equal to ten percent (10%) of the Lessor Amount (the “Accelerated Lessor Rent Amount”), which shall be payable in equal monthly amounts on the first three (3) Payment Dates occurring after the Base Term Commencement Date. Payment of the Accelerated Lessor Rent Amount shall be applied as a Dollar for Dollar reduction of the Lessor Amount. Beginning with the fourth Payment Date after the Base Term Commencement Date, the parties to this Lease agree that Lessee shall reduce each of its payments of Basic Rent by the amount of Yield which has accrued on the Lessor Amount due and payable within thirty on such Payment Date (30each such individual reduction of Basic Rent for a given Payment Date may be referred to herein as a “Basic Rent Adjustment”) days until such time that the Cumulative Basic Rent Adjustment equals the Accelerated Lessor Rent Amount. During such time, the positive difference between the Accelerated Lessor Rent Amount and the Cumulative Basic Rent Adjustment (such amount, the “Lessor Shortfall Amount”) shall be credited against each subsequent payment of delivery by Landlord Basic Rent, and Lessee shall not pay any additional Basic Rent which is comprised of an invoice therefor, without deduction or offset Yield which has accrued on the Lessor Amount until the Lessor Shortfall Amount is reduced to zero. Each such Basic Rent Adjustment shall be capitalized and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based the Lessor Amount on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional renta Dollar for Dollar basis.
Appears in 1 contract
Samples: Lease and Remedies Agreement (Regeneron Pharmaceuticals Inc)
Rent. Sublessee (a) The Rent as per Section 4 of the Lease Deed shall pay Sublessor as rent for be payable in advance on or before the Premises fifteenth (“Base Rent”15th) its pro rata share day of each calendar month during the term of this lease. The Lessor should receive the payment on or before the fifteenth (based 15th) day of each calendar month during the term of this lease. The maintenance charges shall also be paid on the ratio same date.
(b) If the Lease Commencement Date occurs on a day other than on the tenth day of a month, rent from the Lease Commencement Date until the tenth day of the square footage following month shall be prorated at the rate of the Premises to the square footage of the Master Premises one-thirtieth (its “Pro Rata Share”)130) of the rent Rent, payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based in advance on the ratio of square footage of the Premises Lease Commencement Date.
(excluding the Shared Areasc) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts The Rent and all Charges and Reimbursements shall be due and payable within thirty (30) days of delivery by Landlord of an invoice thereforpaid promptly when due, in Indian Rupees, without deduction notice or offset demand and without prior notice deduction, diminution, abatement, counterclaim or demandset-off of any amount, other than withholding taxes as provided at sub-clause (b) above and credit for any excess Reimbursements as /s/ Xxxxxxx Xxxxx /s/ Xxxxx Xxxxx provided in this Exhibit. The Rent and the Reimbursements shall be paid to Lessor at the following address: Xxxx # 0. Xxxxxxxx Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxx - 500 081, or at such other address indicated or to such other person as Lessor may designate by Sublessor in writing adequate written notice to Lessee from time to time. Such Base If Lessor shall at any time accept Rent and or Reimbursements after it shall become due and payable, such acceptance shall not excuse delay upon subsequent occasions, or constitute a waiver of Lessor's rights hereunder. If Lessee makes any payment to Lessor by cheque, the same shall be by cheque drawn by the Lessee only, and Lessor shall not be required to accept a cheque drawn by any other person. Any cheque received by Lessor shall be deemed received subject to collection. GTC-12: SURRENDER OF DEMISED PREMISES Upon termination of this Lease by lapse of time or otherwise. Lessee shall surrender the Demised Premises to Lessor upon simultaneous refund of the Deposit, together with all permanent additions, alterations, improvements and installations thereto (including the Leasehold Improvements), in broom-clean condition and in good order and repair, except for ordinary wear and tear and damage which Lessee is not obligated to repair, failing which Lessor may restore Demised Premises to such condition at Lessee's expense. Provided however, and it is hereby expressly agreed and understood that if after the expiry or sooner determination of the Lease, the Lessor is unable for any reason whatsoever to refund the Deposit. Lessee shall be entitled to continue to use or occupy the Demised Premises without payment of any Rent or other charges until the Deposit is refunded. Upon such termination, Lessee's trade fixtures and furniture shall remain Lessee's property, and Lessee shall have the right prior to such termination to remove the same. Lessee shall promptly repair any damage caused by any such removal and shall restore the Demised Premises in good order and condition reasonable wear and tear excepted. Lessee shall surrender the Demised Premises to Lessor at the end of the Term without notice of any kind, and Lessee hereby waives all right to any such notice as may be provided under any present or future law. RULES & REGULATION FOR USE OF PREMISES GTC-13: USE OF PREMISES
(a) Lessee shall use and occupy the Demised Premises solely for general office purposes and training of personnel and uses incident thereto as permitted under applicable zoning regulations, and but for no other business or purpose.
(b) Lessee shall comply with all present and future laws, statutes, ordinances, regulations, and requirements of any and all governmental authorities and with the Rules and Regulations of Exhibit "A" hereof. /s/ Xxxxxxx Xxxxx /s/ Xxxxx Xxxxx
(c) Lessee shall not conduct or permit to be conducted any activity or place any equipment in or about the Demised Premises and the Building Premises, which will increase the rate of insurance premiums thereon or that is prohibited by or causes a cancellation of any insurance policy; and if any increase in the rate of insurance is stated by any insurance company to be due to any activity or equipment in or about the Property and the Buildings, such statement shall be conclusive evidence that the increase in such rate is due to such activity or equipment, and Lessee shall be liable for such increase and shall reimburse Lessor therefore, as Reimbursements, within ten (10) days of receipt of written notice.
(d) Except for ordinary supplies and materials reasonably related to Lessee's permitted uses set forth in Section 13(a) hereof. Lessee shall not cause or permit any Hazardous Materials (as defined in Exhibit "D"- Definitions) to be brought upon, stored, used, handled, generated, released or disposed of on, in, under or about the Demised Premises, the Building Premises, or other part of the Property or any portion thereof by Lessee, its agents, employees, sub Lessees, assignees, contractors, or invitees. Lessee agrees to indemnify, defend and hold Lessor and its officers, directors, agents, employees, advisors, attorneys and affiliates harmless from any and all claims, actions, administrative proceedings (including informal proceedings), judgments, damages, punitive damages, penalties, fines, costs, liabilities, interest or losses, reasonable attorney's fees and expenses, consultant fees, and expert fees, costs of investigation, monitoring, cleanup, containment, restoration, removal or other remedial work, together with all other costs and expenses of any kind or nature that arise during or after the term of the Lease from any Hazardous Materials permitted by the Lessee on the Demised Premises pursuant to this Section 13(d) or from any breach of Lessee's obligations set forth in Section 13(c); provided that the foregoing indemnification shall not apply to any Hazardous Materials which another Lessee or Lessor or any of its agents, representatives or contractors brings, stores, uses, handles, generates, releases or disposes of in, on, under or about the Building Premises, the Land or any portion thereof.
(e) Lessee shall not commit or allow to be committed any waste upon the Demised Premises or elsewhere on the Property, or any public or private nuisance or other act or thing which disturbs the quiet enjoyment of Another Lessee, and Lessee shall not without the prior written consent of Lessor, use any apparatus, machinery or device in or about the Demised Premises which will cause any substantial noise or vibration or fumes.
(f) Lessee shall, at its expense, keep the Demised Premises and all improvements, fixtures and other property contained therein in a neat, clean, safe and sanitary condition, and in good order and repair, reasonable wear and tear excepted, and will surrender the Demised Premises at the expiration or other termination of the term of this Lease in good order and condition, ordinary wear and tear, and casualties and damages caused by the elements, fire and other insured casualty excepted. /s/ Xxxxxxx Xxxxx /s/ Xxxxx Xxxxx GTC-14: RULES & REGULATIONS
(a) Lessee, its employees, agents, invitees, contractors and subcontractors shall observe and strictly comply with the Rules and Regulations follows (but not limited to) and with such other and further reasonable rules and regulations as Lessor may, after notice to Lessee, from time to time based on increases in the base rent under the Master Leaseadopt. In additionLessor shall exercise its best efforts to enforce said rules and regulations, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration extent applicable, and to enforce the terms, covenants or conditions in any other lease against any other Lessee; provided, however, that Lessor shall not be liable to Lessee for violation of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay same by any portion of any such feesother Lessee, costsits servants, chargesemployees, penalties agents, invitees or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and licensees.
(b) all costs directly incurred Walking / trespassing through office spaces belonging to other occupants should be avoided.
(c) The common utility areas, i.e., electrical sub-station, DG Room and other utility areas, will be highly restricted areas. The Lessee shall reasonably ensure, its officers, directors, agents, employees, advisors, attorneys and affiliates should avoid unauthorized entry or access to such areas.
(d) The maintenance facilities provided by or at the request of Sublessee with respect to its use Lessor are for the general maintenance of the Building Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent The Lessee shall not utilize the maintenance facilities for any of its personal work.
(e) General rules and regulations for proper administration of the Building Premises shall be deemed additional rentdrafted from time to time on mutual consent.
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Rent. Sublessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee Tenant shall pay, as and when due under during the Master Leaseentire Term hereof, rental equal to (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor Rent set forth in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease)Section 1 hereof, and (b) all costs directly incurred other charges as required under the terms and provisions of this Lease (the “Additional Rent”, and, together with the Base Rent, referred to collectively as the “Rent”), payable by equal monthly payments, as stated in Section 1, in advance on the first (1st) day of each month. The Base Rent and the Additional Rent shall commence on the Term Commencement Date. If, by reason of any provisions of this Lease, the Rent reserved hereunder shall commence or terminate on any day other than the first (1st) day of a calendar month, the Rent for such calendar month shall be prorated on a daily basis using a 30 day calendar month. The Rent shall be payable to Landlord or, if Landlord shall so direct in writing, to Landlord’s agent or nominee, at the request office of Sublessee with respect to its use Landlord or such place as Landlord may designate, without any setoff or deduction whatsoever. Rent and any other sums due hereunder not paid within ten (10) days of the Premises. All amounts date due, no notice of non-payment being required, then Tenant shall pay to Lessor a late payment fee of five percent (5%) of the Rent then required to be paid by Sublessee under paid. Tenant shall be required to pay a late payment fee only once for each delinquent installment. Landlord and Tenant acknowledge and agree that throughout the Term of this Sublease other than Base Rent Lease, this Lease shall be deemed additional rentand construed to be a so-called “Gross” lease and Tenant shall pay to Landlord the Rent herein set forth, without abatement, deduction, counterclaim, defense or setoff, and, except as may be expressly stated otherwise in this Lease. Without limitation, Tenant shall not be relieved from its obligations to pay the Rent or any other charges and amounts payable by Tenant (in full) under any circumstances or for any reason whatsoever, except as may be specifically provided otherwise in the lease.
Appears in 1 contract
Rent. Sublessee As an initial Rent deposit, Tenant shall pay Sublessor as rent to Landlord the sum of Forty Thousand Dollars ($40,000.00) payable in two installments, the first installment being for Twenty Thousand Dollars ($20,000.00) payable upon the Effective Date hereof, and the second installment of Twenty Thousand Dollars ($20,000.00) payable on the later of: i) March 31, 2019; or ii) that date upon which the Initial Development Condition set forth in Section 4.G above (relating to the access to Northmoor Road) has been satisfied or waived. Such amount (which shall be for the Premises (“Base Rent”) its pro rata share (based on the ratio purpose of the square footage defraying or applying upon costs incurred or to be incurred by Landlord for moving/relocation from portions of the Premises currently occupied by the Landlord and/or upon other costs incurred or to be incurred otherwise by Landlord in the implementation of this Lease) shall be non-refundable by Landlord to the square footage Tenant notwithstanding any termination of this Lease as a result of the Master Premises (its “Pro Rata Share”)) failure of the rent payable satisfaction of any Initial Development Conditions or for any other reason other than the default by Landlord under the Master terms of this Lease, together with an amount equal to Sublessee’s pro rata share (based on . Upon and after the ratio of square footage Rent Commencement Date of the Premises (excluding the Shared Areas) first Phase to the square footage of the Master Premises (excluding the Shared Areas)be completed and occupied by tenants, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall such initial Rent deposit may be credited by Tenant upon Rent as and when such Rent obligations then become due and payable within as hereinafter provided. Rent shall be payable by Tenant to Landlord commencing upon the Rent Commencement Date for each respective Phase. For purposes hereof, the “Rent Commencement Date” shall be: Phase I: the earlier of either: i) that date nine (9) months after the date upon which a temporary certificate of occupancy is issued by the City of Peoria; or ii) that date upon which any Building upon the applicable Phase becomes occupied by any tenant (other than The Xxx Group or 6035 Knoxville, LLC) for the uses and purposes for which the Leasable Area of such Building is intended. Phases II-V: that date one month after the date upon which (for greater that fifty percent [50%] of the Leasable Area of a Building) there has been issued by the City of Peoria either a permanent or temporary/conditional certificate of occupancy for such Building (new or redeveloped) upon the applicable Phase. Within thirty (30) days of delivery by after each respective Rent Commencement Date, Tenant and Landlord of an invoice therefor, without deduction or offset shall execute and without prior notice or demand, at provide to the address indicated by Sublessor in writing from time to time. Such Base other a Rent shall increase from time to time based on increases Commencement Agreement substantially in the base rent under form as that attached hereto as Exhibit E setting forth the Master LeaseRent Commencement Date for such Phase. In additionUpon Rent Commencement for a Phase, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.calculated and payable to Landlord as follows for each Phase as and after Rent Commencement takes place with respect thereto:
Appears in 1 contract
Samples: Lease Agreement
Rent. Sublessee Except for delinquent rent, all rent under an Xxxxxxxx Partnership's Leases and other income attributable to a Property shall pay Sublessor be apportioned on a per diem basis as of midnight on the date immediately preceding the Closing. All such rent and other income, including commissions earned, for the Premises (“Base Rent”) its pro rata share (based on period preceding the ratio Closing shall be deemed to be property of the square footage applicable Xxxxxxxx Parties, and all rent and other income for any period commencing as of the Premises Closing and thereafter shall be the property of Highwoods for the purpose of making the adjustments set forth herein. Amounts owed under this paragraph shall be paid to the square footage party to whom they are owed in cash at the Closing or during the Post-Closing Adjustment Period. Delinquent rent shall not be prorated, but shall be deemed the property of the Master Premises (its “Pro Rata Share”)) appropriate Xxxxxxxx Parties. Payments received by Highwoods from tenants of an Xxxxxxxx Partnership from and after the Closing with respect to a Property shall be applied first to rents then due for the current period from such tenant and then to such tenant's delinquent rent as of the rent payable under time of apportionment. Highwoods shall use reasonable efforts to collect delinquent rents for the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage benefit of the Premises (excluding Xxxxxxxx Parties but in no event shall be obligated to evict or xxx any tenants in order to collect such rents and shall cooperate with the Shared Areas) Xxxxxxxx Parties in the collection of any delinquent amounts; provided, however, that the Xxxxxxxx Parties shall not have any rights to evict such tenants for such delinquent amounts. Any amounts received by Xxxxxxxx Parties on account of rent or other income for the square footage of period after the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease Closing with respect to the Shared Areas. Such amounts Property and the related personal property shall be due turned over to Highwoods for application in accordance with the terms of this paragraph. All accounts receivable, notes, cash and payable within thirty (30) days bank accounts of delivery the Xxxxxxxx Partnerships existing as of the Closing date shall at Closing, for the purpose of making the adjustments set forth herein, be transferred to or retained by Landlord the appropriate Xxxxxxxx Parties, other than the remaining balance of an invoice thereforany escrow accounts for tenant improvements and lease commissions held by the Xxxxxxxx Partnerships, without deduction or offset the amount necessary to pay prorations of taxes, security deposits and without prior notice or demand, at amounts which belong to Highwoods after making the address indicated by Sublessor in writing from time closing adjustments for rent and operating expenses. Except for the adjustments to time. Such Base Rent shall increase from time to time based on increases be made in the base rent under Post Closing Adjustment Period, the Master Lease. In additionparties hereto agree that no adjustments to reimbursable income received from tenants for taxes, Sublessee shall pay, as and when due under insurance or common area maintenance expenses will be made because the Master Lease, (a) its Pro Rata Share estimated periodic payments made by tenants of all operating expenses, the Properties for 1997 were more or less than the tenant actual prorated share of taxes, insurance and other costs payable under common area maintenance expenses. The provisions of this Section 3.3(b) shall survive the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentClosing.
Appears in 1 contract
Samples: Master Agreement of Merger and Acquisition (Highwoods Forsyth L P)
Rent. Sublessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises If Tenant fails to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and make any payment when due under the Master Leasethis Exhibit, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable such failure shall be deemed a failure to make a Rent payment under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee . Landlord shall have no obligation to pay make a disbursement from the Improvement Allowance if, at the time such disbursement is to be made, there exists an uncured monetary default under the Lease. These specifications are subject to change without notice. The cost for any cleaning over and above the standard cleaning specifications are to be paid by tenant.
1. Sidewalks, entrances, passages, elevators, vestibules, stairways, corridors, halls, lobby, and any other part of the Building shall not be obstructed or encumbered by Tenant or used for any purpose other than ingress or egress to and from the Premises. Landlord shall have the right to control and operate the common portions of the Building and exterior facilities furnished for common use of the Building’s tenants (such as the eating, smoking, and parking areas) in such a manner as Landlord deems appropriate.
2. No awnings or other projections may be attached to the outside walls of the Building without the prior written consent of Landlord. All drapes and window blinds shall be of a quality, type, design, and color, and attached in a manner approved in writing by Landlord.
3. No showcases, display cases, or other articles may be put in front of or affixed to any part of the exterior of the Building, or placed in hallways or vestibules without the prior written consent of Landlord. All supplies shall be kept in designated storage areas. Tenant shall not use or permit the use of any portion of any such feesthe Project for outdoor storage. No mats, coststrash, charges, penalties or other consideration paid objects may be placed in connection with Sublessor’s exercise the public corridors, hallways, stairs, or other common areas of the Building.
4. Restrooms and other plumbing fixtures shall not be used for any such early termination right or optionpurposes other than those for which they were constructed, and that Sublessor reserves no debris, rubbish, rags, or other substances may be thrown therein. Only standard toilet tissue may be flushed in commodes. All damage resulting from any misuse of these fixtures shall be the right to exercise any responsibility of the tenant who, or whose employees, agents, visitors, clients, or licensees, caused such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained damage. Bathing and changing of clothes is permitted only in this Sublease)designated shower/locker facilities, and (b) all costs directly incurred by is not permitted in restrooms.
5. Tenant shall not, without the prior written consent of Landlord, xxxx, paint, drill into, bore, cut, string wires, or at in any way deface any part of the request Premises or the Building except for the reasonable hanging of Sublessee with respect to its use decorative or instructional materials on the walls of the Premises. All amounts required Tenant shall remove seasonal decorations that are visible outside of the Premises within 30 days after the end of the applicable season.
6. Tenant shall not construct, install, maintain, use, or operate in any part of the Project any electrical device, wiring, or other apparatus in connection with a loud speaker system or other sound/communication system that may be heard outside the Premises.
7. No bicycles, mopeds, skateboards, scooters, or other vehicles may be brought into, used, or kept in or about the Building or in the common areas of the Project other than in locations specifically designated thereof. No animals or pets of any kind (other than a service animal performing a specified task), including without limitation fish, rodents, and birds, may be brought into, used, or kept in or about the Building. Rollerblading and roller skating is not permitted in the Building or in the common areas of the Project.
8. Tenant shall not cause or permit any unusual or objectionable odors to be paid produced upon or permeate from the Premises.
9. No space in the Project may be used for the manufacture of goods for sale in the ordinary course of business, or for sale at auction of merchandise, goods, or property of any kind.
10. Tenant shall not make any unseemly or disturbing noises, or disturb or interfere with the occupants of the Building or neighboring buildings or residences by Sublessee under this Sublease voice, musical instrument, radio, talking machines, whistling, singing, lewd behavior, or in any other than Base Rent way. All passage through the Building’s hallways, elevators, and main lobby shall be deemed additional rentconducted in a quiet, businesslike manner. Tenant shall not commit or suffer any waste upon the Premises, the Building, or the Project, or any nuisance, or do any other act or thing that may disturb the quiet enjoyment of any other tenant in the Building or Project.
Appears in 1 contract
Rent. Sublessee Tenant shall pay Sublessor to Landlord at its offices in Louisville, Kentucky, or at such other place as rent for it may advise in writing, in advance, on the Premises tenth (“10th) day of each calendar month, without notice, demand, offset or deduction, in lawful money of the United States of America, during and throughout the term of this Lease, base rent, which shall be payable in monthly installments of Fifty Six Thousand Two Hundred Fifty Dollars ($56,250.00) (the "Base Rent”) its pro rata share "). Commencing August 1, 1996 (based and increasing on each anniversary thereof during the ratio of the square footage of the Premises Term hereof), Tenant shall also pay on a monthly basis to the square footage of the Master Premises Landlord, additional rent (its “Pro Rata Share”"Additional Rent")) of the rent payable under the Master Lease, together with which will be an annual amount equal to Sublessee’s pro rata share the Base Rent times three percent (based 3%) times the number of years the Lease has at that time been in effect on the ratio of square footage a non-compounded basis, i.e., year two's rent shall be 103% of the Premises Base Rent, year two shall be 106%, year 10 shall be 130%, etc. Base Rent together with Additional Rent may be referred to herein as "Total Rent." If the Landlord does not receive from Tenant any payment of Base Rent or Additional Rent within ten (excluding the Shared Areas10) days after such payment is due, Landlord, at its option, may charge Tenant a late charge and handling fee equal to the square footage five percent (5%) of the Master Premises (excluding the Shared Areas)such rental payment, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts and such late charge and handling fee shall be due and payable within thirty (30) days by Tenant to Landlord immediately upon delivery of delivery by Landlord of an invoice therefor, without deduction or offset and without prior written notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master LeaseTenant. In addition, Sublessee if any check of Tenant's is returned to Landlord unpaid, Tenant shall payreimburse Landlord for all charges associated with such returned check and Landlord, as at its option, in addition to all other rights hereunder, may thereafter require that Tenant pay the Rent and when due under any other charges payable hereunder by a certified or cashier's check. If Landlord directs, the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor Tenant agrees to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration pay such portion of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation Total Rent directly to pay any portion of any such feesLandLord's mortgagee as may be necessary to service Landlord's mortgage indebtedness, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or optionif any, and that Sublessor reserves the right balance of such Total Rent remitted paid directly to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rentLandlord.
Appears in 1 contract
Rent. 3.1. The rent ("Rent") payable during the Term under this Sublease ---- shall be as set forth on Schedule C hereto. ----------
3.2. Upon the execution of this Sublease, Sublessee shall pay to Sublessor the sum of * as rent Rent for the Premises (“Base Rent”) its pro rata share (based month of October. Thereafter all payments ------- of Rent shall be in equal monthly installments and shall be made, in advance on the ratio twenty fifth (25th) day of each month during the Term (except for the first and last month of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”Term)) of the rent payable under the Master Lease. The Rent and all other payments, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas)if any, of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable hereunder by Sublessee shall be made by check payable to the order of "Ryder System, Inc." and addressed to Ryder Truck Rental, Inc., 0000 XX 00 Xxxxxx, Xxxxx, XX 00000 , Attention: Ryder System Inc., Comptroller or to such other person or at such other place as Sublessor may from time to time designate in writing within thirty (30) days after receipt by Sublessee of delivery request therefor.
3.3. In the event that Sublessee shall dispute any calculation of Rent charged to Sublessee by Sublessor, then Sublessee shall send to Sublessor a written notice, within 30 days of receipt by Sublessee of such charge, setting forth the basis for Sublessee's dispute. Sublessor and Sublessee shall thereupon use reasonable and good faith efforts to resolve such dispute. If the parties are unable to resolve such dispute within 30 days after submission by Sublessee of its dispute notice, then the parties shall designate an independent certified public accountant mutually acceptable to both parties (the "Independent ----------- Accountant") to resolve such dispute, and the fees and charges of the ---------- Independent Accountant shall be shared equally by the parties. Both parties shall provide the Independent Accountant with all information reasonably requested by the Independent Accountant in connection with its review of such dispute, and both parties shall request that the Independent Accountant complete its work expeditiously and issue a written report to both parties setting forth its determination. The written determination of the Independent Accountant shall be final and shall be binding upon both Sublessor and Sublessee. All disputes to be resolved pursuant to this Section 3.3 shall be so resolved in accordance with the principles and standards set forth in Section 3.5 below.
3.4. Sublessor shall furnish to Sublessee copies of any material statements and other material documents and information which are provided to Sublessor by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time pursuant to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In additionWithout limiting any other obligations of Sublessor hereunder, Sublessee shall paySublessor agrees it will, as upon reasonable request from Sublessee, exercise on Sublessee's behalf, and when due under the Master Leaseat Sublessee's sole cost, (a) its Pro Rata Share any rights of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such feesreview and inspect records and otherwise obtain information from Landlord. * CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION PURSUANT TO AN APPLICATION FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held AS AMENDED.
3.5. All calculations by Sublessor under the Master Lease notwithstanding anything to the contrary contained of Rent and any other amounts that are payable by Sublessee hereunder shall be made in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee accordance with Landlord's past practices with respect to its use of Sublessor, and all charges and allocations relating to the Premises. All Demised Premises and all accounting practices utilized by Sublessor with respect to amounts required charged to be paid by Sublessee under this Sublease other than Base Rent (including the capitalization, amortization and expensing of costs incurred and funds expended) shall also be deemed additional rentmade in such manner.
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Samples: Sublease (Ryder TRS Inc)