Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 2 contracts
Samples: Office Lease Agreement (Quinstreet, Inc), Office Lease Agreement (Quinstreet, Inc)
Rent. 4.01 (a) Tenant shall pay Landlord, without any setoff or deduction, unless expressly to Landlord as rental for the Premises during each year of the term of this Lease the amount set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”)Section 1(g) hereof. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent Such rental shall be due and payable in advance on advance, in equal monthly installments upon the first day of each calendar and every month without notice or demand, provided that throughout the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 term of this Lease) full ; 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 Termmonthly rental as the number of days in such fractional month bears to the 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 the first monthly installment of Additional Rent for Expenses overdue rent and Taxes, shall be payable upon the execution of this Lease by Tenant. All any other items of Rent shall be due and sums payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent to Landlord hereunder shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue bear interest during delinquency until paid at a rate per annum of interest equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%) in excess of the “Prime Rate” published from time to time by The Wall Street Journal (hereinafter referred to as the “Interest Rate”). Landlord’s acceptance In addition, if any payment of rent is not paid when due, Tenant shall pay to Landlord a late charge equal to three and one half percent (3.5%) of each late payment. Landlord shall have no obligation to accept less than the correct full amount of Rent all installments of rental 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 the same are past due.
(c) Landlord’s failure to timely xxxx Xxxxxx shall in no way excuse Tenant from its payment obligations or constitute a waiver of Landlord’s entitlement to any charges not timely billed by Landlord.
(d) Xxxxxx agrees that all Basic Rental and additional rent (collectively “Rent”) due under this Lease shall be considered a payment on account paid to Landlord by (i) check mailed to the address set forth in Section l(n) hereof or such other address as Landlord shall designate by written notice to Tenant, (ii) wire transfer of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement immediately available funds, or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease(iii) electronic funds transfer.
Appears in 2 contracts
Samples: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Rent. 4.01 3.1 Effective as of the Rent Commencement Date, Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required agrees to pay to Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon the Annual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on before the first day of each full calendar month during the Term, except that the first month’s rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon a thirty (30) day month. Said rent shall be paid to Landlord, without deduction or offset and without notice or demand, provided at the Landlord’s address, as set forth on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the installment extent of Base Rent for which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the fourth greater of: (subject a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s right obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to receive Abated Base Rent pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Section 1.03 of this Lease) full calendar month of Article 19 in the Termevent said rent or other payment is unpaid after date due. Notwithstanding the foregoing, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled entitled, not more than once per calendar year, to a notice of non-payment and a five-day grace period of 5 days for the first 2 thereafter before a late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same charge may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leaseassessed.
Appears in 2 contracts
Samples: Lease Agreement (Aspen Aerogels Inc), Lease (Aspen Aerogels Inc)
Rent. 4.01 5.1 Tenant shall agrees to pay Landlord, without any setoff or deduction, unless expressly Landlord as Basic Annual Rent for the Premises the sums set forth in this LeaseSection 2.1.4, all Base Rent and Additional Rent due for the Term (collectively referred subject to adjustment as “Rent”)set forth in Section 8.3. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Basic Annual Rent shall be due and payable 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 (“Additional Rent”), at the times hereinafter specified in this Lease (i) Tenant’s Pro Rata Share (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 or notice, demand, provided that 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 basis of a thirty (30) day month and shall be paid at the then current rate for such fractional month prior to the commencement of the partial month.
5.5 The installment of Base Basic Annual Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 period May 1, 2005 through May 31, 2005 in the amount of this Lease) full calendar month $67,145 shall be deposited with Landlord by Tenant upon execution of the TermLease, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made held by good Landlord as an additional security deposit under Article 9 hereof unless and sufficient check or by other means acceptable until applied to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Basic Annual Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasesuch period.
Appears in 2 contracts
Samples: Lease (Biocept Inc), Lease (Biocept Inc)
Rent. 4.01 From and after the Commencement Date, Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May before thirty (30, 2003 Matter ID Number: 7329 before 30 ) days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check payable in United States of America currency or by other means acceptable designated by Landlord from time to Landlordtime. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee equal to 5% in the amount of all past due Rent$500.00, provided that Tenant shall be entitled to a grace period of 5 up to five (5) days for the first 2 late payments payment of Rent in a calendar year; provided, however, Landlord shall waive the administration fee for one (1) late payment in any twelve (12) month period during the Term. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two twelve percent (212%)) per annum, and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Nothing in this paragraph shall be deemed to waive or condition any claim of Default by Landlord for Tenant’s failure to timely pay Rent, which is governed by Section 18, below. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest oldest obligation due from Tenant hereunder, then to any current Rent duethen due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant obligation so to pay Rent is under the Lease shall be absolute, unconditional, and independent and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or, except as expressly provided in the Lease, any casualty or taking, or any failure by Landlord to perform or other occurrence; and Tenant waives all rights now or hereafter existing to assert any defense in the nature of every other covenant in this Leaseconstructive eviction to any action seeking to recover Rent.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (scPharmaceuticals Inc.)
Rent. 4.01 (a) Tenant shall pay Landlord, without any setoff or deduction, unless expressly to Landlord as rental for the Premises during each year of the term of this Lease the amount set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”)Section 1(g) hereof. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent Such rental shall be due and payable in advance on advance, in equal monthly installments upon the first day of each calendar and every month without notice or demand, provided that throughout the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 term of this Lease) full ; 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 Termmonthly rental as the number of days in such fractional month bears to the 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 the first monthly installment of Additional Rent for Expenses overdue rent and Taxes, shall be payable upon the execution of this Lease by Tenant. All any other items of Rent shall be due and sums payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent to Landlord hereunder shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee bear interest during delinquency until paid at a rate of interest equal to 5% two percent in excess of all past due Rent, provided that Tenant shall be entitled the “Prime Rate” published from time to a grace period of 5 days for time by The Wall Street Journal (hereinafter referred to as the first 2 late payments of Rent in a calendar year“Interest Rate”). In addition, past due Rent if any payment of rent is not paid when due, Tenant shall accrue interest at pay to Landlord a rate per annum late charge equal to the Bank three and one half percent of America “prime rate”, as the same may be announced from time each late payment. Landlord shall have no obligation to time, plus two percent (2%). Landlord’s acceptance of accept less than the correct full amount of Rent all installments of rental 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 occasions during each calendar year, provided such payments are made to Landlord within ten days after Tenant’s receipt of written notice that the same are past due.
(c) Landlord’s failure to timely xxxx Tenant shall in no way excuse Tenant from its payment obligations or constitute a waiver of Landlord’s entitlement to any charges not timely billed by Landlord.
(d) Tenant agrees that all Basic Rental and additional rent (collectively “Rent”) due under this Lease shall be considered a payment on account paid to Landlord by (i) check mailed to the address set forth in Section 1(l) hereof or such other address as Landlord shall designate by written notice to Tenant, (ii) wire transfer of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement immediately available funds, or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease(iii) electronic funds transfer.
Appears in 2 contracts
Samples: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Rent. 4.01 A. On the Commencement Date, in connection with Landlord’s acquisition of the Premises pursuant to the Purchase Agreement, Tenant shall pay Landlordto Landlord the sum of [*], without any setoff an amount equal to the Base Rent for the first (1st) year of the Term.
B. On the first (1st) anniversary of the Commencement Date (the “Monthly Base Rent Commencement Date”), Tenant shall commence to pay Base Rent to Landlord in the manner provided in Section 5.C in equal consecutive monthly installments in advance on or deductionbefore the 1st day of each calendar month commencing as of such date and continuing through the Term. If the Monthly Base Rent Commencement Date is a day other than the first day of a calendar month, unless expressly set forth in or if the Term ends on a day other than the last day of a calendar month, the Base Rent for such month shall be prorated by multiplying such Base Rent by a fraction, the numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be prorated pursuant to this Section 5.B, on or before the Monthly Base Rent Commencement Date.
C. For purposes of this Lease, the Base Rent, the Real Estate Taxes, the Utility Charges and any and all Base Rent other amounts, sums, charges, liabilities and Additional Rent due obligations which Tenant assumes or agrees to pay or may become liable for the Term (under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. All Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff under any circumstances, in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time.
D. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid on the date it is due for any reason, Tenant shall pay Landlord upon demand a late charge equal to the lesser of (i) five and one-half percent (5.5%) of the delinquent installment of Rent and (ii) the highest amount allowed by applicable Law (each a “Late Charge”). “Additional Rent” means all sums The parties agree that this late charge represents a fair and reasonable estimate of the costs and expenses (exclusive of Base Rentincluding economic losses) that Tenant Landlord will incur by reason of late payment by Tenant. The parties further agree that such late charge is required Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, any amount of delinquent Rent (including the amount of any Late Charge) due to pay Landlord shall accrue interest at the Default Rate from the date on which such Rent was due up to the date that such Rent is paid. The payment of such late charge or such interest shall not constitute waiver of, nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Without limitation of the foregoing, Tenant shall pay and be liable responsible for payment of all rentalinterest, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Termlate charges, and other costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges that are the first monthly installment responsibility of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items Tenant hereunder.
E. For any non-scheduled payment of Rent shall be due and hereunder that is payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing demand by Landlord. Rent , such shall be made payable to the entitydue ten (10) days following written demand therefor by Landlord, and sent to the addresswithout abatement, Landlord designates and shall be made by good and sufficient check deduction, or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for setoff under any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasecircumstances.
Appears in 2 contracts
Samples: Lease Agreement (Big Lots Inc), Lease Agreement (Big Lots Inc)
Rent. 4.01 Tenant shall pay LandlordCommencing upon the Ground Lease Commencement Date, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due the initial rent for the Project Site (“Rent”) shall be [***], payable in equal installments of [***] per month, adjusted upward every five (5) years thereafter during the Initial Term and during any Extended Term by a percentage equal to the greater of [***] or the CPI Percentage Increase (collectively as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. The period of time from the Ground Lease Commencement Date through March 11, 2024, and each five (5) year period thereafter shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any payment under this Ground Lease shall hereinafter be referred to as a “Rent”). “Additional RentCPI Adjustment.” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Such Rent and recurring monthly charges of Additional Rent shall will be due and payable in advance each month on the first 1st day of each calendar the month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon by the execution 15th day of this Lease by Tenant. All other items that month; provided however, that (i) the first payment of Rent shall be due and payable by Tenant on or {QuinStreetthe Ground Lease Commencement Date and, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to if the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by Ground Lease Commencement Date is a date other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for than the first 2 late payments of Rent in a calendar year. In additionthe month, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount first payment of Rent shall be considered in a payment on account prorated amount for the period of time between the Ground Lease Commencement Date and the next following first day of the earliest month; and (ii) the first payment of Rent due. Rent for due upon the commencement of any partial new Adjustment Period will be owed and paid one month during after the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant commencement of that Adjustment Period, in order to pay Rent is independent of every other covenant in this Leasepermit the Tenant to calculate the CPI Percentage Increase, as set forth below.
Appears in 2 contracts
Samples: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)
Rent. 4.01 4.1 Tenant hereby agrees to pay Landlord the Base Rent. For purposes of Rent adjustment under the Lease, (a) if the Commencement Date falls on a date that is prior to the 15th day of the calendar month, the number of months is measured from the first day of the calendar month in which the Commencement Date falls, or (b) if the Commencement Date falls on a date that is the 15th or a later day of the calendar month, the number of months is measured from the first day of the calendar month after the calendar month in which the Commencement Date falls. Each monthly installment (the “Monthly Rent”) 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 LandlordTenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), without and any setoff or deduction, unless expressly and all other sums of money as shall become due and payable by Tenant as set forth in this Lease, all Base Rent and of which shall constitute additional rent under this Lease (the “Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required Landlord expressly reserves the right to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. apply any payment received to Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All any other items of Rent shall be due that are not paid by Tenant. The Base Rent, the Monthly Rent and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. the Additional Rent shall be made payable to the entity, and sent to the address, Landlord designates are sometimes hereinafter collectively called “Rent” and shall be made by good and sufficient check paid when due in lawful money of the United States without demand, deduction, abatement, or by other means acceptable offset to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days the addresses for the first 2 late payments of Rent rental payment set forth in a calendar year. In additionthe Basic Lease Information, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, or as the same Landlord may be announced 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, plus two Tenant shall pay to Landlord a late charge (the “Late Charge”), as Additional Rent, in an amount of five percent (25%) of the amount of such late payment. 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 acceptance 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 less than Landlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments. Notwithstanding the correct amount foregoing provisions of Rent this Section 4.2, the Late Charge shall not be considered a imposed with respect to the first late payment on account of the earliest Rent due. Rent for in any partial month calendar year during the Term unless the applicable payment due from Tenant is not received by Landlord within five (5) days following written notice from Landlord that such payment was not received when due. Following the first such written notice from Landlord in any calendar year during the Term (but regardless of whether such payment has been received within such five (5) day period), the Late Charge will be imposed without notice for any subsequent payment due from Tenant during such calendar year which is not received within five (5) days after its due date.
4.3 Simultaneously with the execution hereof, Tenant shall be prorated. No endorsement or statement on a check or letter accompanying deliver to Landlord (i) the Rent Payable Upon Execution as payment shall be considered an accord of the first full installment of Monthly Rent and satisfaction. Tenant’s covenant Share of Operating Expenses and Taxes due hereunder and (ii) an amount equal to pay Rent is independent of every other covenant in this Lease.the Security Deposit Amount to be held by Landlord as security for Tenant’s faithful
Appears in 2 contracts
Samples: Lease Agreement (Allakos Inc.), Lease Agreement (Allakos Inc.)
Rent. 4.01 (a) Each Lease Year (as hereinafter defined), Tenant shall pay Landlordto Landlord Base Rent, without any setoff or deduction, unless expressly deductions of any kind (except as otherwise set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if anyin equal monthly installments, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance advance, on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and Term at the first monthly installment address of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All Landlord stated above or such other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, place as Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent may designate in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced writing from time to time, plus two percent (2%). Landlord’s acceptance with payment in advance of less than appropriate fractions of a monthly payment for any portion of a month at the correct amount of Rent shall be considered a payment on account commencement and termination of the earliest Rent dueTerm. Rent for any partial month during the Term Every amount payable by Tenant to Landlord hereunder shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant (except as otherwise set forth in this Lease) be paid without setoff or deductions of any kind on demand. Base Rent and Additional Rent are herein collectively called “Rent”. Any Rent not paid by Tenant within ten (10) days after its due date shall thereafter be payable with a late charge equal to five (5%) percent of the unpaid rent installment, as Additional Rent.
(b) Tenant’s obligation to pay Base Rent under this Lease shall commence on the Rent Commencement Date.
(c) The obligation of Tenant to pay all sums of Additional Rent shall commence on the Commencement Date of the Lease and there shall be no abatement whatsoever of the obligation of Tenant to pay such sums during any period or part of any lease year during the term of the Lease.
(d) The term “Lease Year” shall mean a period of twelve (12) consecutive calendar months. The first “Lease Year” shall commence on the Commencement Date, and shall end with the expiration of the next succeeding twelve (12) months, plus the number of days, if any, required to have the period end at the expiration of the calendar month, and each Lease Year shall run consecutively thereafter.
Appears in 2 contracts
Samples: Lease (Surgiquest Inc), Lease (Surgiquest Inc)
Rent. 4.01 8.1. Commencing on the Rent Commencement Date and continuing throughout the Initial Term, Tenant shall pay LandlordAnnual Rent in equal monthly installments, without any setoff or deductionin advance, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that month. If the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and Commencement Date falls on a day other than the first monthly installment day of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In additionmonth, past due Rent shall accrue interest at a rate per annum equal to then the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Annual Rent for any partial fractional month during the Term shall be prorated. No endorsement or statement apportioned on a check daily basis based upon a thirty (30) day month.
8.2. Whenever under the terms of this Lease any sum of money is required to be paid by Tenant in addition to the Annual Rent herein reserved, said sum shall be deemed to be additional rent (“Additional Rent”) and collectible as rent whether or letter accompanying not so designated. All Annual Rent and Additional Rent shall be paid without prior demand, except as provided otherwise by the terms of this Lease, and without any setoff, abatement or deduction of any nature whatsoever. Any payment by Tenant of a lesser amount of Annual Rent or Additional Rent than is then due shall be applied to such category of arrearage as Landlord may designate irrespective of any contrary designation by Tenant and to the oldest, most recent or other portion of the sum due as the Landlord may determine; and Landlord’s acceptance of any such partial payment shall not be considered deemed an accord and satisfaction, and shall be without prejudice to Landlord’s right to pursue any other remedies.
8.3. TenantAll rent under this Lease shall be paid to Landlord at Landlord’s covenant to pay Rent is independent of every other covenant in this LeasePayment Address.
Appears in 2 contracts
Samples: Ground Lease (Carrollton Bancorp), Ground Lease (Carrollton Bancorp)
Rent. 4.01 Tenant shall pay to Landlord, at Landlord's Address for Payment of Rent designated in the Basic Lease Information, or at such other address as Landlord may from time to time designate in writing to Tenant for the payment of Rent, the Base Rent, without any setoff notice, demand, offset or deduction, unless expressly set forth in this Leaseadvance, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without month. Landlord shall have no obligation to notify Tenant of any increase in Rent and Tenant's obligation to pay all Rent (and any increases) when due shall not be modified or altered by such lack of notice or demand, provided from Landlord. It is intended that this Lease be a "triple net lease," and that the installment of Base Rent for to be paid hereunder by Tenant will be received by Landlord without any deduction or offset whatsoever by Tenant, foreseeable or unforeseeable. Except as expressly provided to the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of contrary in this Lease) full calendar month , Landlord shall not be required to make any expenditure, incur any obligation, or incur any liability of any kind whatsoever in connection with this Lease or the ownership, construction, maintenance, operation or repair of the Term, and Premises or the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon Project Upon the execution of this Lease by TenantLease, Tenant shall pay to Landlord the first month's Base Rent. If the Term commences (or ends) on a date other than the first (or last) day of a month, Base Rent shall be prorated on the basis of a thirty (30) day month. All sums other items of than Base Rent which Tenant is obligated to pay under this Lease shall be deemed to be additional rent due hereunder ("Additional Rent"), whether or not such sums are designated Additional Rent and, together with the Base Rent, shall be due and payable by Tenant to Landlord commencing on or {QuinStreet, Inc. -6-00004264the Possession Date. The term "Rent" means the Base Rent and all Additional Rent payable hereunder.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 2 contracts
Samples: Multi Tenant Industrial Triple Net Lease (Brooks Automation Inc), Multi Tenant Industrial Triple Net Lease (Brooks Automation Inc)
Rent. 4.01 (a) Tenant shall pay Base Rent to Landlord in the manner provided in Section 5(b) in equal consecutive monthly installments in advance on or before the first (1st) day of each calendar month commencing as of the Commencement Date and continuing through the Term. If the Term commences on a day other than the first day of a calendar month, or ends on a day other than the last day of a calendar month, Base Rent for such month shall be prorated by multiplying such Base Rent by a fraction, the numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be prorated pursuant to this Section 5(a), on the Commencement Date in connection with Landlord, without any setoff or deduction, unless expressly set forth in ’s acquisition of the Premises pursuant to the Purchase Agreement.
(b) For purposes of this Lease, the Base Rent, the Real Estate Taxes, the Utility Charges and any and all Base Rent other amounts, sums, charges, liabilities and Additional Rent due obligations which Tenant assumes or agrees to pay or may become liable for the Term (under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”); and, in the event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. “Additional Rent” means all sums All Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff under any circumstances, in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time.
(exclusive c) Tenant hereby acknowledges that late payment by Tenant to Landlord of Base RentRent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within two (2) business days after delivery of written notice from Landlord to Tenant of Tenant’s failure to pay Rent when due (provided, however, that Tenant is required shall only be entitled to pay Landlord under this Lease. Tenant shall pay such notice and be liable for all rental, sales and use taxes cure one (but excluding income taxes1) time in any consecutive twelve (12)- month period during the Term), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee upon demand a late charge equal to the lesser of (i) five percent (5% %) of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments delinquent installment of Rent in and (ii) the highest amount allowed by Law (each a calendar year“Late Charge”). The parties agree that this Late Charge represents a fair and reasonable estimate of the costs and expenses (including economic losses) that Landlord will incur by reason of late payment by Xxxxxx. The parties further agree that such Late Charge is Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, past any amount of delinquent Rent (including the amount of any Late Charge) due Rent to Landlord shall accrue interest at a rate per annum equal the Default Rate from the date on which such Rent was due up to the Bank date that such Rent is paid. The payment of America “prime rate”such Late Charge or such interest shall not constitute a waiver of, as nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Without limitation of the same may foregoing, Tenant shall be announced from time responsible for payment of all interest, late charges, and other costs and fees imposed by third parties with respect to time, plus two percent late payments of Utility Charges or other third-party charges that are the responsibility of Tenant hereunder.
(2%). Landlord’s acceptance of less than the correct amount d) For any non-scheduled payment of Rent hereunder that is payable by Xxxxxx on demand by Xxxxxxxx, such shall be considered a payment on account of the earliest Rent due. Rent for due twenty (20) days following written demand therefor by Xxxxxxxx, without abatement, deduction, or setoff under any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasecircumstances.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Sierra Bancorp), Purchase and Sale Agreement (Sierra Bancorp)
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent (as hereinafter defined) due for the Term (collectively referred to as “Rent”). Base Rent shall commence on the Commencement Date, subject to the Base Rent Abatement Periods. Anything herein to the contrary notwithstanding, an amount equal to the first full monthly installment of Base Rent, which shall be applied toward the seventh (7th) month of the Term, plus any fraction of a monthly payment for any portion of a month at the commencement of the Term, shall be due and payable together with the Security Deposit (as defined herein) upon the execution hereof. Landlord’s receipt of the foregoing payments shall be a condition precedent to the effectiveness of this Lease. All Additional Rent shall commence on the Commencement Date except as expressly provided otherwise. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand. Unless otherwise specified herein to the contrary, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All all other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May before thirty (30, 2003 Matter ID Number: 7329 before 30 ) days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord otherwise designates and shall be made by good and sufficient check drawn on a local bank or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to five percent (5% %) of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 five (5) days for the first 2 two (2) late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate twelve percent (12%) per annum equal to or the Bank of America “prime rate”maximum rate permitted by law, as the same may be announced from time to time, plus two percent (2%)whichever is less. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (Loxo Oncology, Inc.)
Rent. 4.01 Tenant Tenants shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due Landlord as rent for the Term (collectively referred premises during the term of this lease the sum of $ . Said rent shall be payable pursuant to as “Rent”). “Additional Rent” means all sums (exclusive the Rent Schedule which is a part of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and Rents will be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance considered as paid on the first day of each calendar month without notice or demand, provided that date they are actually received by the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall Tenants will pay Landlord an administration fee a late charge equal to 5% of all past the rental payment due Rentto Landlord. Payments that are more than 10 days late will be assessed a Delinquency Charge of $100 in addition to the 5% Late Fee. After said 10 days, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In additionaddition thereto, past due Rent interest shall accrue interest at the rate of 15% thereafter. There shall also be a rate per annum equal return check handling fee of $50, in addition to all of the previously described charges which shall also apply. As to the Bank Delinquency Charge, the parties acknowledge that this is part of America “prime rate”, as liquidated damages since the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct exact amount of Rent shall be considered damages as a result of late payment on account of the earliest Rent dueis uncertain and difficult to prove and this is a reasonable solution. Rent for any partial month during the Term shall be proratedTHE FAILURE TO TIMELY PAY A RENTAL PAYMENT AS SET FORTH IN THIS LEASE SHALL BE GROUNDS FOR THE TERMINATION OF THIS LEASE. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfactionLANDLORD SHALL BE ENTITLED TO EVICT TENANTS AND COLLECT ALL REMAINING RENTAL PAYMENTS, OTHER CHARGES, FEES, COSTS AND DAMAGES ACCORDING TO THIS LEASE AND THE OHIO LAW FOR SUCH BREACH OF LEASE. Tenant’s covenant to pay Rent is independent of every other covenant in this LeaseTENANTS AND CO-SIGNERS/GUARANTORS OF THIS LEASE ARE JOINTLY AND SEVERALLY (INDIVIDUALLY) LIABLE. THE FAILURE OF THE LANDLORD TO ENFORCE ANY OF THE ABOVE PROVISIONS IN ANY GIVEN PERIOD SHALL NOT CONSTITUTE A WAIVER OF ANY REMEDY AFFORDED TO LANDLORD OR TO COLLECT SAID CHARGES AT A LATER DATE.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Rent. 4.01 8.1. Commencing on the Rent Commencement Date and continuing throughout the Initial Term, Tenant shall pay LandlordAnnual Rent in equal monthly installments, without any setoff or deductionin advance, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that month. If the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and Commencement Date falls on a day other than the first monthly installment day of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In additionmonth, past due Rent shall accrue interest at a rate per annum equal to then the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Annual Rent for any partial fractional month during the Term shall be prorated. No endorsement or statement apportioned on a check daily basis based upon a thirty (30) day month.
8.2. Whenever under the terms of this Lease any sum of money is required to be paid by Tenant in addition to the Annual Rent herein reserved, said sum shall be deemed to be additional rent ("Additional Rent") and collectible as rent whether or letter accompanying not so designated. All Annual Rent and Additional Rent shall be paid without prior demand, except as provided otherwise by the terms of this Lease, and without any setoff, abatement or deduction of any nature whatsoever. Any payment by Tenant of a lesser amount of Annual Rent or Additional Rent than is then due shall be applied to such category of arrearage as Landlord may designate irrespective of any contrary designation by Tenant and to the oldest, most recent or other portion of the sum due as the Landlord may determine; and Landlord's acceptance of any such partial payment shall not be considered deemed an accord and satisfaction, and shall be without prejudice to Landlord's right to pursue any other remedies.
8.3. Tenant’s covenant All rent under this Lease shall be paid to pay Rent is independent of every other covenant in this LeaseLandlord at Landlord's Payment Address.
Appears in 2 contracts
Samples: Ground Lease (Carrollton Bancorp), Ground Lease (Carrollton Bancorp)
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all to Landlord the Monthly Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rentstated in Section l(h) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without during the Lease Term at the notice address set forth in Section 1(l) above, or demandat such other place as Landlord may from time to time designate in writing. In addition, provided that Tenant shall pay to Landlord together with the installment payment of Monthly Base Rent, Tenant’s Pro Rata Share of Operating Expenses (as defined in Section 9(a)(3) below), as more particularly set forth in Section 9 below. For purposes of this Lease, the term “rent” shall mean all Monthly Base Rent and Additional Rent payable by Tenant in accordance with this Lease. Rent payable for any period of less than one calendar month shall equal 1/30 of the Monthly Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 each day of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenantsuch period. All other items of Rent shall be due and If any sums payable by Tenant on or {QuinStreetto Landlord under this Lease are not received by the fifth (5th) day following the date such sum is due, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord in addition to the amount due, for the cost of collecting and handling such late payment, an administration fee amount equal to the greater of $100 or five percent (5% %) of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar yeardelinquent amount. In addition, past all delinquent sums payable by Tenant to Landlord and not paid within five (5) days of the due Rent shall accrue date shall, at Landlord’s option, bear interest at a the rate of twelve percent (12%) per annum equal annum, or the highest rate of interest allowable by law, whichever is less. Interest on all delinquent amounts shall be calculated from the original due date to the Bank date of America “prime rate”, as the same may be announced from time to time, plus two percent (2%)payment. Landlord’s acceptance of less than the correct full amount of Rent any payment due from Tenant shall not be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered deemed an accord and satisfaction. Tenant’s covenant satisfaction or compromise of such payment unless Landlord specifically consents in writing to pay Rent is independent payment of every other covenant in this Leasesuch lesser sum as an accord and satisfaction or compromise of the amount which Landlord claims.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Tableau Software Inc)
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly to Landlord as the base rent for the Premises (the “Base Rent”) the amount set forth in this LeaseSection 1, all subject to adjustment as hereinafter provided. Nothing contained herein shall be construed at any time so as to reduce the Base Rent payable hereunder below the amount set forth above. Base Rent shall be adjusted in accordance with the following provisions (any such adjustment is “Additional Rent”). Prior to January 1 of each year in the Term or as soon thereafter as reasonably possible, Landlord shall provide Tenant with Landlord’s good faith estimate (which Landlord may re-estimate at any time) of Operating Expenses and Taxes for the next calendar year in the Term (each, an “Operating Period”), and commencing on January 1 of each Operating Period, one-twelfth (1/12) of Tenant’s Pro-rata Share of the estimated Operating Expenses and Taxes will be due each month from Tenant as Tenant’s Additional Rent during such Operating Period. If Landlord’s statement is furnished after the start of an Operating Period, then Tenant shall continue to pay the monthly amount of its Additional Rent due for the Term (collectively referred prior Operating Period and on the next monthly Additional Rent payment date after Tenant receives Landlord’s statement, Tenant shall also pay any excess amounts allocable to the prior months in that Operating Period. As of the Effective Date of this Lease, Landlord’s estimate is that the amount that will be due as “Rent”)Additional Rent hereunder for the year in which the Commencement Date occurs will be $18.80 per RSF of the Rentable Area of Premises per year. “Until further written notice is forwarded from Landlord to Tenant in accordance with the provisions of this Lease, Tenant shall remit 1/12th of this amount to Landlord monthly as Additional Rent” means all sums (exclusive , to be paid at the same time and in the same manner as Tenant’s monthly payments of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 2 contracts
Samples: Lease Agreement (Upland Software, Inc.), Lease Agreement (Upland Software, Inc.)
Rent. 4.01 4.1 Tenant hereby agrees to pay Landlord the 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 “Monthly Rent”) 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 LandlordTenant’s Share of Operating Expenses and Taxes, without and any setoff or deduction, unless expressly and all other sums of money as shall become due and payable by Tenant to Landlord as set forth in this Lease, all Base Rent and of which shall constitute additional rent under this Lease (the “Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required Landlord expressly reserves the right to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. apply any payment received to Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All any other items of Rent shall be due that are not paid by Tenant. The Base Rent, the Monthly Rent and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. the Additional Rent shall be made payable to the entity, and sent to the address, Landlord designates are sometimes hereinafter collectively called “Rent” and shall be made by good and sufficient check paid when due in lawful money of the United States without demand, deduction, abatement, or by other means acceptable offset (except as otherwise expressly provided in this Lease) to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days the addresses for the first 2 late payments of Rent rental payment set forth in a calendar year. In additionthe Basic Lease Information, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, or as the same Landlord may be announced designate from time to time.
4.2 In the event any Monthly or Additional Rent or other amount payable by Tenant to Landlord hereunder is not paid within five (5) days after its due date, plus two Tenant shall pay to Landlord a one-time late charge (the “Late Charge”), as Additional Rent, in an amount of five percent (25%) of the amount of such late payment. 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 acceptance 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 less than Landlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments. Notwithstanding the correct amount foregoing provisions of Rent this Section 4.2, the Late Charge shall not be considered a imposed with respect to the first late payment on account of in the earliest Rent due. Rent for twelve (12) months following the Commencement Date or with respect to the first late payment in any partial succeeding twelve (12) month period during the Term shall unless the applicable payment due from Tenant is not received by Landlord within five (5) days following written notice from Landlord that such payment was not received when due. Following the first such written notice from Landlord in the twelve (12) months following the Commencement Date and the first such written notice in any succeeding twelve (12) month period during the Term (but regardless of whether such payment has been received within such five (5) day period), the Late Charge will be prorated. No endorsement or statement on a check or letter accompanying imposed without notice for any subsequent payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent due from Tenant during such applicable twelve (12) month period which is independent of every other covenant in this Leasenot received within five (5) days after its due date.
Appears in 2 contracts
Samples: Lease Agreement (Adicet Bio, Inc.), Lease Agreement (resTORbio, Inc.)
Rent. 4.01 A. Tenant shall covenants to pay Landlordto Landlord during the Lease Term, without any setoff or deductiondeduction except as otherwise expressly provided herein, unless expressly set forth in this Lease, the full amount of all Base Rent and Additional Rent due for hereunder and the Term (collectively referred to full amount of all such other sums of money as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord shall become due under this Lease. , all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay and be liable for pay, as Additional Rent, all rentalrent, sales and use taxes (but excluding income or other similar taxes), if any, levied or imposed upon by any city, state, county or measured other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by RentTenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and recurring monthly charges of Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without notice demand. If the Lease Term commences on a day other than the first day of a month or demandterminates on a day other than the last day of a month, provided that then the installment installments of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, such month or months shall be payable upon prorated, based on the execution number of this Lease by Tenantdays in such month. All other items of amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. To the extent allowed by law, all installments of Rent not paid when due and payable by Tenant on or {QuinStreetshall bear interest at the Default Rate from the date due until paid, Inc. -6-00004264.} May 30provided, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 three (3) days for after notice from Landlord with respect to the first 2 two (2) late payments of Rent in a any calendar year. In addition, past if Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent when due Rent shall accrue interest at and payable hereunder, a rate per annum “Late Charge” equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two five percent (25%). ) of such unpaid amount will be due and payable immediately by Tenant to Landlord’s acceptance of less than the correct amount of Rent , provided, Tenant shall be considered entitled to a payment on account grace period of three (3) days after notice from Landlord with respect to the earliest Rent due. Rent for first two (2) late payments in any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasecalendar year.
Appears in 2 contracts
Samples: Office Lease Agreement (Lpath, Inc), Office Lease (Enernoc Inc)
Rent. 4.01 Tenant shall timely pay Landlordto Landlord Rent (as defined in the Basic Lease Information), without any setoff or deduction, unless expressly including Base Rent and the amounts set forth in Exhibit B hereto, without notice, demand, deduction or set-off (except as otherwise expressly provided herein), by good and sufficient check drawn on a national banking association at Landlord’s address provided for in this LeaseLease or as otherwise specified by Landlord and shall be accompanied by all applicable state and local rental, all transaction privilege, sales or use taxes. The obligations of Tenant to pay Base Rent (as defined in the Basic Lease Information) and Additional Rent due for other sums to Landlord and the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive obligations of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by RentLease are independent obligations. Base Rent and recurring monthly charges of Additional Rent Rent, adjusted as herein provided, shall be due and payable monthly in advance on the first day of each calendar month without notice or demand, provided that the advance. The monthly installment of Base Rent payable under this Lease for the fourth sixth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease6th) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, Term shall be payable upon contemporaneously with the execution of this Lease by Tenant. All other items of Lease; thereafter, Base Rent shall be due and payable by Tenant on or {QuinStreetbefore the first (1st) day of each month during the Term. The monthly Base Rent payable for the remainder of any calendar month in which the Rent Abatement expires shall equal the product of 1/365 (or in the event of a leap year, Inc. -6-00004264.} May 301/366) of the annual Base Rent in effect during such month and the number of days remaining in such month after the expiration of the Rent Abatement, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlorddue on the date that the Rent Abatement expires. Payments of Base Rent for any fractional calendar month at the end of the Term shall be similarly prorated. Tenant shall pay Landlord an administration fee equal to 5% of all past due RentOperating Costs, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent Taxes and Insurance (each as defined in a calendar year. In addition, past due Rent shall accrue interest Exhibit B) at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than and in the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasesame manner as Base Rent.
Appears in 2 contracts
Samples: Office Lease Agreement (Dermavant Sciences LTD), Office Lease Agreement (Dermavant Sciences LTD)
Rent. 4.01 3.1. The Tenant shall punctually pay Landlordthe Rent for the Leased Premises for the Term to the Landlord in the amounts and at the times set forth below, without bxxx or other demand and without any setoff offset, deduction or deductionabatement whatsoever, unless expressly except as may be otherwise specifically set forth in this Lease, all Base Agreement.
3.2. The Basic Rent and Additional Rent due for the Leased Premises during the Initial Term (collectively referred to shall be at the rate per year set forth below. The annual rate of Basic Rent for the Leased Premises during any Renewal Term shall be calculated as “Rent”)set forth in subsection 6.1.4 of this Agreement for the respective Renewal Term.
3.3. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. The Tenant shall punctually pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base the applicable Basic Rent and recurring in equal monthly charges of Additional Rent shall be due and payable installments in advance on the first day of each calendar month without notice or demandduring the Term, provided that with the installment exception of Base Basic Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) first full calendar month of the Initial Term and for any period of less than a full calendar month at the beginning of the Term, . The Tenant shall pay the Basic Rent for the first full calendar month of the Initial Term upon execution and delivery of this Agreement. The Tenant shall punctually pay the Basic Rent for a period of less than a full calendar month at the beginning of the Term on the Commencement Date.
3.4. The Basic Rent and the first monthly installment of Additional Rent for Expenses and Taxes, any period of less than a full calendar month shall be payable upon prorated. In the execution event that any installment of this Lease Basic Rent cannot be calculated by Tenant. All other items of Rent the time payment is due, such portion as is then known or calculable shall be then due and payable; and the balance shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by upon the Landlord. Rent shall be made payable ’s giving notice to the entity, and sent to Tenant of the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlordamount of the balance due.
3.5. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days The Additional Rent for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month Leased Premises during the Term shall be proratedpromptly paid by the Tenant in the respective amounts and at the respective times set forth in this Agreement.
3.6. No endorsement That portion of any amount of Rent or statement other amount due under this Agreement which is not paid on the day it is first due shall incur a check late charge equal to the sum of: (i) five percent of that portion of any amount of Rent or letter accompanying payment other amount due under this Agreement which is not paid on the day it is first due and (ii) interest on that portion of any amount of Rent or other amount due under this Agreement which is not paid on the day it is first due at the Base Rate(s) in effect from time to time plus two additional percentage points from the day such portion is first due through the day of receipt thereof by the Landlord. Any such late charge due from the Tenant shall be considered an accord due immediately. Anything hereinabove contained to the contrary notwithstanding, it is expressly understood and satisfaction. Tenant’s covenant to pay agreed that no late charge shall be imposed if Rent is independent not paid by the fifth day of every other covenant the month provided that if Rent is not paid by the fifth day of the month more than twice in this Leaseany twelve month period then, thereafter, the late charge shall be imposed if Rent is not paid by the first day of the month.
Appears in 2 contracts
Samples: Lease Agreement (Foamix Pharmaceuticals Ltd.), Lease Agreement (Foamix Pharmaceuticals Ltd.)
Rent. 4.01 (a) Tenant shall pay Landlord, without any setoff or deduction, unless expressly to Landlord as rental for the Premises during each year of the term of this Lease the amount set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”)Section 1(g) hereof. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent Such rental shall be due and payable in advance on advance, in equal monthly installments upon the first day of each calendar and every month without notice or demand, provided that throughout the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 term of this Lease) full ; 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 Termmonthly rental as the number of days in such fractional month bears to the 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 the first monthly installment of Additional Rent for Expenses overdue rent and Taxes, shall be payable upon the execution of this Lease by Tenant. All any other items of Rent shall be due and sums payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent to Landlord hereunder shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee bear interest during delinquency until paid at a rate of interest equal to 5% two percent in excess of all past due Rent, provided that Tenant shall be entitled the “Prime Rate” published from time to a grace period of 5 days for time by The Wall Street Journal (hereinafter referred to as the first 2 late payments of Rent in a calendar year“Interest Rate”). In addition, past due Rent if any payment of rent is not paid when due, Tenant shall accrue interest at pay to Landlord a rate per annum late charge equal to the Bank three and one half percent of America “prime rate”, as the same may be announced from time each late payment. Landlord shall have no obligation to time, plus two percent (2%). Landlord’s acceptance of accept less than the correct full amount of Rent all installments of rental 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 occasions during each calendar year, provided such payments are made to Landlord within ten days after Tenant’s receipt of written notice that the same are past due.
(c) Landlord’s failure to timely xxxx Tenant shall in no way excuse Tenant from its payment obligations or constitute a waiver of Landlord’s entitlement to any charges not timely billed by Landlord.
(d) Tenant agrees that all Basic Rental and additional rent (collectively “Rent”) due under this Lease shall be considered a payment on account paid to Landlord by (i) check mailed to the address set forth in Section 1(n) hereof or such other address as Landlord shall designate by written notice to Tenant, (ii) wire transfer of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement immediately available funds, or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease(iii) electronic funds transfer.
Appears in 2 contracts
Samples: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Rent. 4.01 4.1 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required hereby agrees to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by the Base Rent. Base For purposes of Rent and recurring 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 charges of Additional Rent installment (the “Monthly Rent”) shall be due and payable in advance by check or by money order on or before the first day of each calendar month month. In addition to the Base Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes (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 “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 United States without notice or demand, provided 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 installment 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 Base 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 fourth fifth (5th) full calendar month of the initial Term (subject to Tenant’s right to receive Abated Base Rent pursuant to described in Section 1.03 4.7 below) and Tenant’s Share of this LeaseOperating 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 first monthly installment cleaning of Additional 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 for Expenses and Taxes, shall be payable upon the execution of this Lease or any other sum in default and/or to cure any other such failure by Tenant. All If Landlord applies the Security Deposit or any part thereof for payment of such amounts or to cure any such other items failure by Tenant, then Tenant shall immediately pay to Landlord the sum necessary to restore the Security Deposit to the full amount then required by this Section 4.3 Landlord’s obligations with respect to the Security Deposit are those of Rent a debtor and not a trustee. 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 by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable released from further liability with respect to the entity, and sent to Security Deposit upon the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). original Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenantsuch successor owner’s covenant to pay Rent is independent of every other covenant in this Leasecomplying with California Civil Code Section 1950.
Appears in 2 contracts
Samples: Lease Agreement (PROCEPT BioRobotics Corp), Lease Agreement (PROCEPT BioRobotics Corp)
Rent. 4.01 Tenant shall pay LandlordCommencing upon the Ground Lease Commencement Date, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due the initial rent for the Site (“Rent”) shall be [***] per annum, payable in equal installments of [***] per month, adjusted upward every five (5) years thereafter during the Term by a percentage equal to the greater of [***] or the CPI Percentage Increase (collectively as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. The period of time from the Ground Lease Commencement Date through the date five years thereafter, and each five (5) year period thereafter shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any payment under this Ground Lease shall hereinafter be referred to as a “Rent”). “Additional RentCPI Adjustment.” means all sums Such Rent will be due each month on the 1st day of the month and shall be payable by the 15th day of that month; provided, however, that: (exclusive x) the first payment of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the Ground Lease Commencement Date and, if the Ground Lease Commencement Date is a date other than the first day of each calendar month without notice or demandthe month, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items payment of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to in a prorated amount for the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for time between the Ground Lease Commencement Date and the next following first day of the month; (y) the first 2 late payments payment of Rent due upon the commencement of any new Adjustment Period will be owed and paid one month after the commencement of that Adjustment Period in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal order to permit the Bank of America “prime rate”Tenant to calculate the CPI Percentage Increase, as set forth below; and (z) the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount last payment of Rent shall be considered in a payment on account prorated amount for the period of time between the immediately preceding first day of the earliest Rent due. Rent for any partial month during and the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent last day of every other covenant in this Leasethe Term.
Appears in 2 contracts
Samples: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)
Rent. 4.01 4.1 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required hereby agrees to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by the Base Rent. Base For purposes of Rent and recurring adjustment under the Lease, (a) if the Commencement Date falls on a date that is prior to the 15th day of the calendar month, the number of months is measured from the first day of the calendar month in which the Commencement Date falls, or (b) if the Commencement Date falls on a date that is the 15th or a later day of the calendar month, the number of months is measured from the first day of the calendar month after the calendar month in which the Commencement Date falls. Each monthly charges of Additional Rent installment (the “Monthly Rent”) shall be due and payable in advance by check, wire, ACH transfer or by money order on or before the first day of each calendar month without notice or demandmonth. Landlord agrees to accept payment by Federal Reserve Automated Clearing House (ACH) deposit only so long as such system is available for Landlord’s use. In addition to the Base Rent, provided that the installment of Base Rent for the fourth (subject Tenant also agrees to pay Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 Share of this Lease) full calendar month of the TermOperating Expenses and Taxes (each as hereinafter defined), and the first monthly installment any and all other sums of Additional Rent for Expenses and Taxes, money as shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be become due and payable by Tenant on as hereinafter set forth, all of which shall constitute additional rent under this Lease (the “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing any other items of Rent that are not paid by LandlordTenant. The Monthly Rent shall be made payable to and the entity, and sent to the address, Landlord designates Additional Rent are sometimes hereinafter collectively called “Rent” and shall be made by good and sufficient check paid when due in lawful money of the United States without demand, deduction, abatement, or by other means acceptable offset to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days the addresses for the first 2 late payments of Rent rental payment set forth in a calendar year. In additionthe Basic Lease Information, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, or as the same Landlord may be announced 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, plus two Tenant shall pay to Landlord a late charge (the “Late Charge”), as Additional Rent, in an amount of five percent (25%) of the amount of such late payment. 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 acceptance 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 less than Landlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments. Notwithstanding the correct amount foregoing provisions of Rent this Section 4.2, the Late Charge shall not be considered a imposed with respect to the first late payment on account of in the earliest Rent due. Rent for twelve (12) months following the Commencement Date or with respect to the first late payment in any partial succeeding twelve (12) month period during the Term unless the applicable payment due from Tenant is not received by Landlord within five (5) days following written notice from Landlord that such payment was not received when due. Following the first such written notice from Landlord in the twelve (12) months following the Commencement Date and the first such written notice in any succeeding twelve (12) month period during the Term (but regardless of whether such payment has been received within such five (5) day period), the Late Charge will be imposed without notice for any subsequent payment due from Tenant during such applicable twelve (12) month period which is not received within five (5) days after its due date.
4.3 Simultaneously with the execution hereof, Tenant shall be prorated. No endorsement or statement on a check or letter accompanying deliver to Landlord (i) the Rent Payable Upon Execution as payment shall be considered an accord of the first installment of Monthly Rent and satisfaction. Tenant’s covenant Share of Operating Expenses and Taxes due hereunder and (ii) if applicable, an amount equal to pay Rent is independent the Security Deposit Amount to be held by Landlord as security for Tenant’s faithful performance of every other covenant in this Lease.all
Appears in 2 contracts
Samples: Lease Agreement (Talend SA), Lease Agreement (Talend SA)
Rent. 4.01 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis.
7.2 From and including the Commencement Date, the Tenant shall pay Landlordall Outgoings, without VAT and any setoff and all other taxes or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for sums whatsoever as become payable or refundable by the Term (collectively referred Tenant to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay the Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges the provisions of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 Clause 10.9 of this Lease) full calendar month of .
7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Term, Tenant and the first contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly installment basis directly to Tenant (or shall provide copies on a monthly basis of Additional Rent for Expenses and Taxesany such accounting statements provided by such contractor to Landlord together with the applicable statement), shall be payable upon the execution payment of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and which shall be made by good and sufficient check Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable.
7.4 If required by other means acceptable to the Landlord. , the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an administration fee equal to 5% of all past due Rentaccount in Germany, provided that Tenant then such excess cost shall be entitled to a grace period of 5 days for borne by Landlord.
7.5 Any payments from the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal Tenant to the Bank Landlord under this Lease (including the payment of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent Basic Rent) shall be considered a payment on account of made against Invoices issued by the earliest Rent due. Rent for any partial month during Landlord to the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 2 contracts
Samples: Lease Agreement (Corporate Property Associates 17 - Global INC), Lease Agreement (Corporate Property Associates 17 - Global INC)
Rent. 4.01 2.1 Tenant shall pay Landlordto Landlord all sums due hereunder from time to time from the Commencement Date without prior demand, without any setoff or deductiontogether with all applicable Florida sales tax thereon; however, unless expressly set forth otherwise provided in this Lease, all payments other than Tenant's regular monthly payments of Base Rent and "Increased Operating Costs" (subsequently defined), shall be payable by Tenant to Landlord within five (5) days following demand, except as otherwise provided in this Lease. All other charges other than Base Rent that are required to be paid by Tenant to Landlord under this Lease shall constitute Additional Rent. Base Rent and Additional Rent due for the Term (Base Rent and Additional Rent are collectively referred to as “"Rent”"), for any "Lease Year" consisting of more than twelve (12) months shall be prorated on a per diem basis, based upon a period of 365 days. “Additional Rent” means all sums Rent payable for any partial month shall be prorated on a per diem basis, based upon a thirty (exclusive of Base Rent30) day month. Tenant agrees that Tenant is required its covenant to pay Landlord Rent and all other sums under this Lease is an independent covenant and that all such amounts are payable without counterclaim, set-off, deduction, abatement, or reduction whatsoever, except as may be expressly provided for in this Lease. .
2.2 Subject to any escalation which may be provided for in this Lease, Tenant shall pay and Base Rent for the Term in the initial amount specified in the Lease Summary, which, except for the first installment (which shall be liable for all rental, sales and use taxes (but excluding income taxespayable upon Lease execution), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable throughout the Term in equal monthly installments in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month each year of the Term, such monthly installments to be in the amounts (subject to escalation) specified in the Lease Summary. The obligation of Tenant to pay Rent shall commence on the [Rent ] Commencement Date. The Base Rent described above shall be adjusted at the beginning of the second and each succeeding Lease Year during the first monthly installment Term of this Lease as provided in the Lease Summary.
2.3 In addition to the Base Rent specified in this Lease, commencing January 1, 2001. Tenant shall pay to Landlord as Additional Rent for the Premises Tenant's Proportionate Share of the amount by which the annual "Operating Costs" (as subsequently defined) exceed the Operating Costs incurred during the Base Year. Such excess is referred to as the "Increased Operating Costs." Tenant's obligation to pay its proportionate share of Increased Operating Costs shall commence as of the first day immediately subsequent to the last day of the Base Year. The amount of Increased Operating Costs payable to Landlord by Tenant may be estimated by Landlord for such period(s) as Landlord may determine from time to time (not to exceed twelve (12) months), and Tenant shall pay to Landlord the amounts so estimated in equal installments, in advance, on the first day of each month during such period. Within a reasonable period of time after the end of the period for which estimated payments have been made, Landlord shall furnish to Tenant a statement, showing the actual amount payable by Tenant based upon actual costs. If such actual Increased Operating Expenses and Taxesfor such calendar year shall exceed Tenant's payment so made, Tenant shall pay to Landlord the deficiency within twenty (20) days after receipt of said statement. If Tenant's payments shall exceed such actual Increased Operating Expenses, as shown on such statement, such excess shall be applied against payments next becoming due under this Lease, or, if the Lease has expired, shall be promptly refunded to Tenant. For purposes of this Lease, Operating Costs means are but not limited to all "Taxes," "Common Area Maintenance Charges," "Insurance Premiums" (as such terms are subsequently defined), and all other charges payable by the owner(s) of the Building under that certain Declaration of Protective Covenants and Restrictions for Lakes Corporate Park dated _______________and recorded in Official Records Book _____, Page _____, of the Public Records of Miami-Dade County, Florida and any supplements, amendments, replacements or additions thereto (collectively, the "Declaration").
2.3.1 Notwithstanding anything to the contrary contained in Section 2.3, the aggregate amount of the Tenant's pro rata share of Operating Costs pursuant to this Article 2 shall not increase by more than 5% per Lease Year except with respect to insurance premiums and real property taxes for which there shall be no cap.
2.4 Rent shall be paid to or upon the order of Landlord at Landlord's Address or as otherwise designated in writing by Landlord. Landlord may change its address by notice to Tenant of such change pursuant to Section 19.2 hereof. No payment by Tenant or receipt by Landlord of an amount less than the Rent due hereunder shall be deemed to be other than on account of the earliest stipulated Rent due hereunder. Nor shall any endorsement or statement on any check or any letter accompanying any check be deemed to be an accord and satisfaction.
2.5 Any Base Rent or Additional Rent payable by Tenant to Landlord under this Lease which is not paid within ten (10) days after due, will be subject to (i) a late payment charge, as Additional Rent, of five percent (5%) of the delinquent amount, in each instance, to cover Landlord's additional administrative costs and (ii) if any payment shall remain overdue for more than twenty (20) days, interest on all such unpaid sums (other than the late charge), at a per annum rate equal to the lesser of the highest rate permitted by law or eighteen percent (18%)]. The rate of interest determined pursuant to the preceding sentence is sometimes hereinafter referred to as the "Maximum Interest Rate." Such late charges and interest will be due and payable upon demand, and will accrue from the execution date that such Base Rent, Additional Rent, late charges or other sums are payable under the provisions of this Lease until actually paid by Tenant. Such late charges and interest shall not be considered the granting of a grace period.
2.6 Tenant shall also pay all applicable Florida sales tax levied on Rent, as well as any taxes attributable to the personal property and trade fixtures owned by Tenant.
2.7 Landlord acknowledges receipt of a security deposit in the amount specified on the Lease Summary to be held by Landlord, without any liability for interest thereon, as security for the performance by Tenant of all its obligations under this Lease. Landlord shall be entitled to commingle the security deposit with Landlord's other funds. If Tenant defaults in any of its obligations under this Lease, Landlord may at its option, but without prejudice to any other rights which Landlord may have, apply all or part of the security deposit to compensate Landlord for any loss, damage, or expense sustained by Landlord as a result of such default (including sales taxes). If all or any part of the security deposit is so applied, Tenant shall restore the security deposit to its original amount on demand of Landlord. Subject to the provisions of this Section 2.7, within thirty (30) days following termination of this Lease, if Tenant is not then in default or if no default would occur after a lapse of time, the security deposit will be returned by Landlord to Tenant.
2.8 To secure the payment of all Rent and other sums of money due and to become due hereunder and the faithful performance of this Lease by Tenant, Tenant hereby gives to Landlord an express first and prior contract and landlord's lien and security interest on all property now or hereafter acquired (including fixtures, equipment, chattels, and merchandise) by Landlord (and not by any customer of Landlord) which may be placed in the Premises and also upon all proceeds of any insurance which may accrue to Tenant by reason of destruction of or damage to any such property. Such property shall not be removed therefrom without the written consent of Landlord until all arrearages in rental and other sums of money then due to Landlord hereunder shall first have been paid. All other items exemption laws are hereby waived in favor of Rent shall be due said lien and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by security interest. This lien and security interest is given in addition to Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates 's statutory lien and shall be made cumulative thereto. Landlord shall, in addition to all of its rights hereunder, also have all of the rights and remedies of a secured party under the Uniform Commercial Code as adopted in the State of Florida. To the extent permitted by good and sufficient check or by other means acceptable law, this Lease shall constitute a security agreement under Article 9 of the Florida Uniform Commercial Code. Notwithstanding the foregoing, Landlord agrees to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled subordinate its lien to a grace period of 5 days bona fide institutional lender providing acquisition financing or lease financing for the first 2 late payments of Rent in Tenant's furniture, fixtures, and equipment, so that Landlord will have a calendar year. In additionsecond lien on such furniture, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord fixtures and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leaseequipment.
Appears in 2 contracts
Samples: Commercial/Industrial Building Lease (World Diagnostics Inc), Commercial/Industrial Building Lease (World Diagnostics Inc)
Rent. 4.01 4.01. Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”), the parties acknowledging that this Lease expressly provides for the abatement of the Abated Base Rent as provided in Section 1.03 hereof. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) first full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check payable in United States of America currency or by other means acceptable to Landlord. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee equal to 5% in the amount of all past due Rent$250.00, provided that Tenant shall be entitled to a grace period of up to 5 days Business Days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 10% per annum, and Tenant shall pay Landlord a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%)reasonable fee for any checks returned by Tenant’s bank for any reason. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest oldest obligation due from Tenant hereunder, then to any current Rent duethen due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Except as specifically set forth in this Lease, Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 2 contracts
Samples: Office Lease Agreement (Akebia Therapeutics, Inc.), Office Lease Agreement (Akebia Therapeutics, Inc.)
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as defined below) (collectively, “Rent”) to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction (except as otherwise provided herein), at the place Landlord may designate from time to time, in money of the United States of America that, at the time of payment, is legal tender for the payment of all obligations. As used herein, “Additional Rent” means all sums (exclusive of amounts, other than Base Rent) , that Tenant is required to pay Landlord under this Leasehereunder. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Monthly payments of Base Rent and recurring monthly charges payments of Additional Rent for Expenses (defined in Section 4.2.2), Taxes (defined in Section 4.2.3) and parking (collectively, “Monthly Rent”) shall be due and payable paid in advance on or before the first day of each calendar month without notice or demandduring the Term; provided, provided however, that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) first full calendar month of the Termfor which Base Rent is payable hereunder shall be paid upon Tenant’s execution and delivery hereof. Except as otherwise provided herein, and the first monthly installment all other items of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before paid within 30 days after billing by Landlord’s request for payment. Rent for any partial calendar month shall be made payable to prorated based on the entityactual number of days in such month. Without limiting Landlord’s other rights or remedies, and sent to the address(a) if any installment of Rent is not received by Landlord or its designee within five (5) business days after its due date, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee a late charge equal to 5% of all past due Rentthe overdue amount (provided, provided however, that such late charge shall not apply to any such delinquency unless either (i) such delinquency is not cured within five (5) business days after notice from Landlord, or (ii) Tenant shall be entitled to previously received notice from Landlord of a grace period of 5 days for delinquency that occurred earlier in the first 2 late payments of Rent in a same calendar year. In addition); and (b) any Rent that is not paid within 10 days after its due date shall bear interest, past from its due Rent shall accrue interest date until paid, at a rate the lesser of 18% per annum equal to or the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent highest rate permitted by Law (2%defined in Section 5). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leaseherein.
Appears in 2 contracts
Samples: Office Lease (Apigee Corp), Office Lease (Apigee Corp)
Rent. 4.01 3.01 Tenant shall pay Landlordto Landlord without notice or demand and without abatement, without any setoff deduction or deductionset-off, unless expressly set forth in this Leaselawful money of the United States of America {or by check, all subject to collection, drawn on a bank or trust company which is a member of the New York Clearing House Association), at the office of the Landlord as specified on Page 1 hereof or at such other place as Landlord may designate in writing, the Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord reserved under this Lease. Tenant shall pay and be liable Lease for all rentaleach year of the Term, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring payable in equal monthly charges of Additional Rent shall be due and payable installments in advance on the first day of each and every calendar month during the Term; and Additional Rent consisting of all such other sums of money due hereunder including, without notice being limited to, its Percentage Share of Impositions, its Percentage Share of Costs of Operation, costs, expenses and other payments as shall become due from and payable by Tenant hereunder (for default in payment of which Landlord shall have the same remedies as for a default in payment of Base Rent) (“Additional Rent”). There shall be no Base Rent or demand, provided Additional Rent due hereunder for the first ninety days after the date hereof. It is intended by the parties hereto that the installment of Base Rent and Additional Rent shall be absolutely net to Landlord so that this Lease shall be considered a so called “triple net” lease.
3.02 Tenant shall pay the Base Rent and Additional Rent herein reserved promptly as and when the same shall become due and payable under this Lease. If the Commencement Date shall occur on a day other than the first day of a calendar month the Base Rent and Additional Rent shall be prorated for the fourth (subject period from the Commencement Date to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 the last day of this Lease) full the said calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreetthe Commencement Date. If the Expiration Date shall occur on a day other than the last day of a calendar month, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. the Base Rent and Additional Rent shall be made payable prorated for the period from the first day of said month to the entityExpiration Date.
3.03 Whenever used in this Lease, the term (insofar as it pertains to this Lease) “fixed rent”, “minimum rent”, “base rent” or “basic rent”, or any such term using the word “rental”, “rents”, or “rentals” in lieu of “rent”, shall mean Base Rent; and sent whenever used in this Lease, the term (insofar as it pertains to this Lease) “rent”, “rental”, “Rent”, or the addressplural of any of them, Landlord designates shall mean Base Rent and Additional Rent.
3.04 If Tenant shall fail to pay within ten (10) days of when due any installment or payment of Base Rent or Additional Rent, Tenant shall be made 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 good and sufficient check or by other means acceptable Landlord in processing such late payments. In addition to Landlord. such late charge, Tenant shall pay Landlord an administration fee equal to 5% of all past interest on amounts so unpaid from the date such payment was due Rent, provided that Tenant shall be entitled to a (without grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal period) to the Bank of America “prime rate”, date payment is credited to Landlord’s account as good funds at the same may be announced Prime Lending rate as published in the Wall Street Journal from time to time, plus two percent (2%)) percent per annum. Landlord’s acceptance 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.
3.05 It is the purpose and intent of less than Landlord and Tenant that the correct amount of Base Rent shall be considered a payment on account absolutely net to Landlord, and that all taxes, assessments, costs, expenses and other charges and obligations of every kind and nature whatsoever relating to the earliest Rent due. Rent for any partial month Demised Premises or the Building and improvements situated thereon which may arise or become due during or out of the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment paid by Tenant, and that Landlord shall be considered an accord indemnified and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasesaved harmless by Tenant from and against the same.
Appears in 1 contract
Samples: Sublease (Radiation Therapy Services Holdings, Inc.)
Rent. 4.01 3.1 Tenant shall pay to Landlord the following amounts as rent for the Premises:
(a) During the Term, Tenant shall pay to Landlord, without any setoff as base monthly rent, the amount of monthly rent specified in the Basic Lease Information (the "Base Rent").
(b) During the Term of this Lease, Tenant shall pay to Landlord, as additional monthly rent, Tenant's Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or deductionincurred by Landlord during the Term and Xxxxxx's Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord during the Term as more particularly described in Article 4 below.
(c) Throughout the Term of this Lease, unless expressly set forth Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease, whether or not such amounts of money or charges are designated "additional rent." As used in this Lease, "rent" shall mean and include all Base Rent, additional monthly rent and additional rent payable by Tenant in accordance with this Lease. Landlord will have the same remedies for a default in the payment of additional rent as for a default in the payment of Base Rent.
3.2 Tenant shall pay all Base Rent and Additional Rent due for the Term (collectively referred additional monthly rent under Section 3.1 above to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rentalLandlord, sales and use taxes (but excluding income taxes)in advance, if any, imposed upon on or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on before the first day of each and every calendar month without notice or demandduring the Term of this Lease, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) first full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxesadditional monthly rent, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay all rent to Landlord an administration fee equal without notice, demand, deduction or offset, in lawful money of the United States of America, at the address of Landlord specified in the Basic Lease Information, or to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest such other person or at a rate per annum equal to the Bank of America “prime rate”, such other place as the same Landlord may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant time designate in this Leasewriting.
Appears in 1 contract
Samples: Office Lease (Aptimus Inc)
Rent. 4.01 Tenant shall pay Landlordrent consisting of (i) Base Rent, without any setoff or deduction, unless expressly set forth in and (ii) all other sums that become payable by Tenant under this Lease, all whether to Landlord directly, or to a third party for the benefit of Landlord and the Premises (“Additional Rent”). Base Rent and Additional Rent due for the Term (collectively are referred to herein as “Rent”). “Additional Rent.” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional All Rent shall be due and payable paid in advance on the first day of each calendar month unless otherwise provided herein. Tenant shall pay to Landlord, with all Rent, the portion of any rent, transaction, privilege, business activity, or other tax now or hereafter imposed on any Rent that will be paid by Landlord attributable to such Rent. If any such tax is payable only above a certain level of total Project rents, then the amount payable by Tenant will be estimated by Landlord based on the ratio of Rents paid by Tenant divided by total anticipated rental from the Project for that year; Landlord shall reconcile the estimated payments with the actual amount of total rental from the Project and the total of such tax paid by Landlord, and any adjustment payment or credit will be made, on the same basis as applies to Operating Expense reconciliations pursuant to Section 4 below. All Rent shall be paid in lawful money of the United States to Landlord, at such place as Landlord shall designate by written notice to Tenant from time to time. Tenant shall pay all Rent promptly when due without notice or demanddemand therefor and without any abatement, deduction or off set, for any reason whatsoever, except as may be expressly provided that in this Lease. If the installment Tenant’s obligation to pay Base Rent does not commence on the first day of a calendar month, or does not expire on the last day of the calendar month, the Base Rent payable by Tenant on the first fractional month, or the last fractional month, as the case may be, shall be prorated for said month. Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) first full calendar month of the Term, and the first monthly installment of Additional Term for which Base Rent for Expenses and Taxes, is payable shall be payable paid upon the execution of this Lease by Lease, and Base Rent for any partial month at the beginning of the Term shall be due on the Commencement Date. Tenant acknowledges that Tenant. All other items ’s late payment of Rent due Landlord will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such cost being extremely difficult and impractical to ascertain. Therefore, if Landlord does not receive any Rent due from Tenant within five (5) days of when due more than once in any twelve (12) month period of the Term of this Lease, Tenant shall pay to Landlord an additional sum equal to five percent (5%) of the overdue amount, which late charge shall be due and payable on demand. The payment of late charges and the payment of interest are distinct and separate from one another in that the payment of interest is to compensate Landlord for the use of Landlord’s money by Tenant, while the payment of late charges is to compensate Landlord for the additional administrative expenses incurred by Landlord in handling and processing delinquent payments. By their execution of this Lease, Landlord and Tenant on confirm that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment, that the late charge is in addition to any and all remedies available to Landlord and that the assessment and/or collection of the late charge shall not be deemed a waiver by Landlord of such failure or {QuinStreetof any other default under this Lease. Additionally, Inc. -6-00004264.} May 30all such delinquent Rent, 2003 Matter ID Number: 7329 before 30 shall bear interest at the rate of five percent (5%) plus the Prime Rate (as hereinafter defined) per annum from the date due until paid; provided however, that the foregoing interest shall not apply to the first such late payment in any twelve (12) month period of the Term of this Lease until following written notice to Tenant and the expiration of five (5) days after billing thereafter without cure, or, if lower, the maximum interest rate permitted by Landlordlaw (as applicable, the “Default Rate”), from the date due until paid. Rent For purposes hereof, the “Prime Rate” shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the interest rate publicly announced by Bank of America “as its prime or base rate (or, if Bank of America ceases to exist or to announce a prime or base rate”, as the same may be announced from time to time, plus two percent (2%prime or base rate of another national banking association). Landlord’s acceptance of less than the correct amount If any payment of Rent shall be considered a payment on account of the earliest Rent due. Rent is returned for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant insufficient funds, Landlord may require Tenant to pay Rent is independent of every other covenant in this Leaseall future payments by cashier’s check.
Appears in 1 contract
Rent. 4.01 a. During each year of the Term, the Tenant shall agrees to pay to the Landlord, without any setoff demand or deductionset off, unless expressly set forth in lawful money of the United States, at the address specified in this Lease, all or at such other location as the Landlord may hereafter designate in writing, Base Rent and Additional Rent due for the Term Premises in the amount of One Dollar (collectively referred to as “Rent”)$1.00) per annum.
b. The annual Base Rent shall be paid in full in advance. “Additional Rent” means all sums (exclusive The first payment of Base Rent) that Tenant is required to pay Landlord under this LeaseRent shall be due and payable on or before the Commencement Date. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Each subsequent annual payment of Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on each anniversary date of the first day of each calendar month Commencement Date.
c. The Base Rent (if any), the Additional Rent (as defined below), and all other sums payable under the Lease shall be paid without notice or notice, demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Termcounterclaim, set off, deduction, or defense and without abatement, suspension, diminution, or reduction, and the first monthly installment of Additional Rent for Expenses obligations and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account liabilities of the earliest Rent due. Rent for Tenant under the Lease shall in no way be released, discharged, or otherwise affected by reason of any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant occurrence whatsoever, except as otherwise expressly provided in this Lease.
d. During the Term of this Lease, the Tenant shall also pay as additional rent ("Additional Rent") all sums, Impositions (as defined in the Section below), costs, expenses, and other payments that the Tenant is required to pay, either to the Landlord or to others, under the terms of this Lease. In the event of any non-payment of Additional Rent, the Landlord shall have all rights and remedies provided for in this Lease for the non-payment of Base Rent. The Base Rent and the Additional Rent shall sometimes be referred to together in this Lease as the “Rent”.
e. The Landlord has agreed to lease the Premises to the Tenant for less than fair market rent on the explicit condition that the Premises be used by the Tenant for its non-profit purposes described in Section 4 above. If, for any reason, the Tenant alters its organizational structure or operations at the Premises so as to lose its non-profit, 501(c)(3) status, this Lease shall be automatically modified, without action by or consent of the Tenant, to require the payment of fair market rent effective as of the date of the loss of the Tenant’s non-profit, 501(c)(3) status. In the event that the Landlord and the Tenant cannot agree on fair market rent, the parties agree to hire a qualified appraiser to determine the fair market rent. The parties shall share equally the expense of hiring the appraiser. In the event the parties cannot agree on an appraiser, each party shall hire its own appraiser, at its sole cost and expense, and the fair market rent shall be the average of the results of each appraisal. The fair market rent, as determined pursuant to this subsection (e), shall become the Base Rent payable pursuant to subsection (a) above. Nothing in this subsection (e) shall be construed as approval of Tenant’s change of its non-profit use, which would require the Landlord’s consent pursuant to Section above.
Appears in 1 contract
Samples: Ground Lease
Rent. 4.01 Tenant shall The Tenant, in consideration of the Lease, covenants and agrees to pay Landlord, without any setoff or deduction, unless expressly to the Landlord the annual rent for the Premises as set forth in this Lease, all Base Rent and Additional Rent due for the Term below (collectively hereinafter referred to as “Rent”). “Additional Rent” means all sums (exclusive of the "Base Rent") that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each and every calendar month without notice or demandduring the Term, provided in advance, in monthly installments, except that on Wednesday, December 28,2016, Tenant shall pay to Landlord the installment lump sum of Four Hundred Forty-Six Thousand Nine Hundred Thirty-Four and 92/100 ($446,934.92) Dollars, which represents Year 1 and Year 2 of the Base Rent. The Tenant shall pay to Landlord on January 31,2019, the lump sum of Two Hundred Thirty-One Thousand Nine Hundred Twenty-Four and 16/100 ($231,924.16) Dollars, which represents Year 3 of the Base Rent. Thereafter, the Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 remainder of this Lease) the Term shall be payableas follows: The annual rent is payable in advance, in the equal monthly installments on the first day of each and every calendar month during the Term hereof, except that the rental payment for any fractional calendar month at the commencement of the Lease Term shall be pro-rated based on the actual number of calendar days in the month in which the Commencement Date occurs. Any pro-rated rent for such fractional month shall be reflected in the first full calendar month of the Lease Term, ."
3. During Years 1,2 and 3 of the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the addressAgreement, Landlord designates shall invoice Tenant monthly and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to monthly, the Estimated Operating Expenses.
4. Any terms that are capitalized herein that are not defined herein shall have the same meaning as those defined terms in the Lease Agreement.
5% . The balance of all past due Rent, provided the terms of the Lease Agreement that Tenant are not amended by this Amendment shall be entitled to a grace period of 5 days for the first 2 late payments of Rent remain valid and bind and in a calendar yearfull force and effect. In additionthe event of a conflict between the Lease Agreement and this Amendment, past due Rent this Amendment shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasecontrol.
Appears in 1 contract
Rent. 4.01 (a) Tenant shall pay Landlordto Landlord Adjusted Rental, which is the sum of the monthly Basic Rental, the monthly Excess Operating Expenses and the monthly Excess Taxes (as defined in the Basic Lease Information), as estimated by Landlord from time to time, in monthly installments in advance on the fifth day of each month in lawful money of the United States to Landlord at its address set forth above (or such other address as Landlord shall designate in writing to Tenant) without notice or demand and without any setoff abatement, deduction or deductionset-off, unless expressly set forth in this Leasefor each month of the entire Term. One such monthly installment, all Base Rent and Additional Rent due for shall be payable by Tenant to Landlord upon the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive execution of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring A like monthly charges of Additional Rent installment shall be due and payable in advance without demand beginning on the first day of each the calendar month without notice immediately following the month in which the Commencement Date occurs and continuing thereafter on or demand, provided that before the installment first day of Base each succeeding calendar month during the Lease Term. Rent for any fractional month at the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month beginning of the TermLease Term shall be prorated based on one-three hundred sixty-fifth (1/365) of the current annual Adjusted Rental for each day of the partial month this Lease is in effect, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreetbefore the first day of the calendar month immediately following the month in which the Commencement Date occurs.
(b) During the Term of this Lease, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent the Basic Rental shall be made payable increased at the beginning of each lease year as outlined above in the Basic Lease Terms. The dates described in this Section for computing the adjustment in Basic Rental are hereinafter sometimes referred to collectively as “Rental Adjustment Dates” and singularly as a “Rental Adjustment Date”. After each Rental Adjustment Date, the rent as increased shall be deemed the Basic Rental for all purposes of this Lease.
(c) If all of any sum due under this Lease is not received by its due date, then Tenant, to the entityextent permitted by law, and sent shall pay, in addition to the addresssum owed, a late payment charge equal to five percent (5%) of the sum (or portion thereof) which is overdue. If a check remitted to pay any sum due to Landlord hereunder shall not be honored upon presentment for payment, then Tenant in addition to the amount owed, shall pay to Landlord on demand a fee of five percent (5%) of the amount owed. Following the dishonor of any check presented for payment, Landlord designates and shall may require all further payments to be made hereunder to be made by good and sufficient certified check or by money order. Also, if Landlord does not receive any Adjusted Rental within thirty (30) days after the due date thereof, or fails to pay any sum (other means acceptable than Adjusted Rental) which at any time becomes due to Landlord. Landlord under any provision of this Lease as and when the same becomes due hereunder, then, in either such event, Tenant shall pay Landlord interest on such overdue amounts from the due date thereof until paid at an administration annual rate (the “Past Due Rate”) which equals the lesser of (i) eighteen percent ( 18%) or (ii) the highest rate then permitted by law. All late payment charges and fees for dishonored checks are to reimburse Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of late or dishonored payments. Provision for such late charge, interest or fee equal to 5% of all past due Rent, provided that Tenant for dishonor shall be entitled in addition to a grace period of 5 days for the first 2 late payments of Rent all other rights and remedies available to Landlord hereunder or at law or in a calendar year. In addition, past due Rent equity and shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, not be construed as the same may be announced from time to time, plus two percent liquidated damages or limiting Landlord's remedies in any manner.
(2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord d) Tenant's covenants and satisfaction. Tenant’s covenant obligations to pay Rent is Adjusted Rental and all additional rental (collectively, the “Rent”) hereunder are unconditional and independent of every any other covenant in or condition imposed on either Landlord or Tenant, whether under this Lease, at law or in equity.
Appears in 1 contract
Rent. 4.01 (a) Tenant shall pay Landlordto Landlord throughout the term of this Lease Rent as specified in the Basic Lease Information, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring payable monthly charges of Additional Rent shall be due and payable in advance on or before the first day of each month during the term hereby demised in lawful money of the United States, without demand, deduction or offset whatsoever, to Landlord at the address specified in the Basic Lease Information or to such other firm or to such other place as Landlord may from time to time designate in writing. Net Rent is subject to adjustment as provided in the Basic Lease Information hereof, and Expense Stop Rent is subject to adjustment as provided in Paragraph 27 hereof. If this Lease commences on a day other than the first day of a calendar month without notice or demandends on a day other than the last day of a calendar month, provided that the installment of Base monthly Rent for the fourth fractional month shall be appropriately prorated. The term “Rent”, as used herein, means all Net Rent, Expense Stop Rent, Additional Rent and all other amounts payable hereunder from Tenant to Landlord.
(subject b) Tenant agrees that if Rent or any other payment due hereunder from Tenant to TenantLandlord remains unpaid ten (10) days after said amount is due, the amount of such unpaid Rent or other payment shall be increased by a late charge to be paid to Landlord by Tenant in an amount equal to five percent (5%) of the amount of the delinquent Rent or other payment. The amount of the late charge to be paid to Landlord by Tenant for any month shall be computed on the aggregate amount of delinquent Rents and other payments, including all accrued late charges, then outstanding. Tenant agrees that such amount is a reasonable estimate of the loss and expense to be suffered by Landlord as a result of such late payment by Tenant and may be charged by Landlord to defray such loss and expense. The provisions of this paragraph in no way relieve Tenant of the obligation to pay Rent or other payments on or before the date on which they are due, nor do the terms of this paragraph in any way affect Landlord’s right to receive Abated Base Rent remedies pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution Paragraph 19 of this Lease by Tenantin the event said Rent or other payment is unpaid after the date due. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable Notwithstanding the foregoing to the entitycontrary, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal not be subject to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days late charges and interest set forth in this Section 4(b) for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent ) times in each twelve month period for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant which Tenant fails to pay Rent is independent of every other covenant in this Leasewithin ten (10) days after its due date.
Appears in 1 contract
Rent. 4.01 4.1 The consideration payable by Subtenant for the Premises consists of the Base Rent specified in the Basic Sublease Provisions and Tenant’s Share (as defined in the Master Lease) of Operating Expenses and Tax Expenses (both as defined in the Master Lease) (“Additional Rent,” and collectively with the Base Rent, “Rent”). Sublandlord shall deliver to Tenant shall copies of the statements of Additional Rent and reconciliation statements provided to Sublandlord by Master Landlord. Except as may be expressly provided herein, Subtenant’s covenant to pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and will be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Sublease.
4.2 Beginning on March 1, 2022, and continuing thereafter on the first day of each month during the Term, Subtenant must pay to Sublandlord in advance, and without notice, demand, deduction or offset, the monthly Base Rent Commencing on the Commencement Date and continuing thereafter on the first day of each month during the Term, Subtenant must pay to Sublandlord in advance, and without notice, demand, deduction or offset, 1/12 of the Additional Rent. Sublandlord and Subtenant shall make reconciliation credits or payments, as set forth in Section 7.f. of the Master Lease, and such obligation shall survive the expiration or earlier termination of this Sublease, except with respect to any reconciliation statement not delivered by Sublandlord to Subtenant within twelve (12) months after the expiration date of this Sublease. Sublandlord shall provide Annual Operating and Tax Expense statement to Subtenant within ten (10) business days follow receipt from Master Landlord.
4.3 All Rent must be paid to Sublandlord at the “Sublandlord’s Address for Payment of Rent” specified in the Basic Sublease provisions, or to such other person or such other place as Sublandlord may from time to time designate by giving notice in writing to Subtenant.
4.4 If any Rent is not paid when due, Subtenant must pay a late charge to Sublandlord equal to the greater of (a) 5% of the delinquent amount‐, or (b) all interest and late charges as Sublandlord would sustain under the Master Lease in the event that Sublandlord were delinquent in paying such amount under the Master Lease. Neither demand for, nor receipt of, any late charge called for under this Sublease will (i) operate to waive any default by Subtenant or provide a substitute for Subtenant’s full and timely performance of the obligation to pay Base Rent, or (ii) limit the exercise of any other right or remedy Sublandlord may have under this Sublease in case of Subtenant’s default.
Appears in 1 contract
Samples: Sublease (Salt Blockchain Inc.)
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rentalCommencing on the respective Rent Commencement Date, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee equal to 5% in the amount of all past due Rent$250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate 12% per annum equal to if not paid within five (5) days of the Bank of America “prime rate”due date, as the same may be announced from time to time, plus two percent (2%)and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest oldest obligation due from Tenant hereunder, then to any current Rent duethen due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 1 contract
Rent. 4.01 5.1. Monthly rent that the Tenant shall pay Landlordto the Landlord during the first Term of Lease within its meaning hereinabove shall be the monthly rent as specified hereinabove. Statutory VAT shall be added to the said rent.
5.2. In addition to the Rent, without the Tenant shall make additional payment for the parking spaces, within their meaning hereinabove. The additional Parking Payment shall be paid together with the monthly rent and all terms set forth with regard to the monthly rent shall also apply to the additional Parking Payment.
5.3. At the time of signing this Agreement the Tenant shall furnish to the Landlord postdated checks for the entire Term of Lease in a manner that 7 days before commencement of each term of payment, within its meaning hereinabove, a check shall be repaid for each term of payment. The first check shall be a cash check as of the date of signing this Agreement. Two months prior to commencement of each Option Term, and to the extent that no notice was delivered regarding termination of lease, the Tenant shall furnish to the Landlord new checks in respect of the additional term, in accordance with the provisions set forth hereinabove, otherwise its right to exercise the option shall expire.
5.4. Rent shall be paid in new Israeli shekels and shall be linked to the index in a manner that upon expiration of the Term of Lease and upon expiration of each Option Term the Tenant shall pay to the Landlord the difference between linkage of each payment to the Basic Index and the Known Index, within their meaning hereinabove. In any setoff event of delay in payment, for any reason that is contingent on the Tenant, the Tenant shall make payment according to the index known on the payment date applicable in accordance with this Agreement, or deductionon the date of payment – upon the higher.
5.5. In the event the Tenant vacated the Leased Premises for any reason prior to expiration of the first Term of Lease, unless expressly or in the middle of an Option Term, the Tenant shall be obligated to pay rent for the entire Term of Lease and/or Option Term.
5.6. Without derogating from for any relief and/or remedy that Landlord may seek in accordance with the provisions set forth in this Lease, all Base Rent and Additional Rent due Agreement and/or in accordance with the provisions set forth in any law then any default in payment of any amount shall incur 1.5% interest per month.
5.7. A one-time default in payment for a period of up to 7 days shall not grant interest to the Term (collectively referred to Landlord as “Rent”)said. “Additional Rent” means all sums (exclusive Default in payment for a period that is longer than 7 days shall entitle the Landlord with interest in arrears as of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment default and until payment is made.
5.8. A default in payment for a period of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 14 days shall constitute a fundamental breach of this Lease) full calendar month Agreement, and in such circumstances the Landlord shall not be obligated to deliver to the Tenant any additional notice prior to termination of the Term, and Agreement.
5.9. The said in this sub-clause shall not derogate or affect the first monthly installment of Additional Rent for Expenses and Taxes, provisions set forth in clause 16 hereunder. Interest shall be payable upon deemed as rent.
5.10. To dispel any doubt, furnishing the execution of this Lease by Tenant. All other items of Rent checks shall not be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 deemed as payment however only 3 days after billing by Landlordtheir cashing on the dates designated for that purpose. Rent shall be made payable to paid in the entity, and sent to address of the address, Landlord designates and or shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for deposited in the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than bank account in accordance with the correct amount of Rent shall be considered a payment on account of instructions set forth by the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this LeaseLandlord.
Appears in 1 contract
Rent. 4.01 (a) The Tenant shall pay Landlordall rent and other charges to be paid by the Tenant hereunder to the Authority at the office of the Authority in Richmond, without any setoff Virginia, or deductionto such other individual, unless expressly set forth in this Lease, all Base Rent firm or corporation and Additional Rent due for at such other place as may be designated by the Term Authority.
(collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rentb) that Tenant is required to pay Landlord under this Lease. The Tenant shall pay and a monthly rent (the “Monthly Rent") without notice, demand or setoff during the term hereof based upon an initial total annual rent of $17,972.75. No reduction or increase in rent shall be liable available for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rentnon-material discrepancies in actual square footage. Base Rent and recurring monthly charges of Additional During the first Lease Year the Monthly Rent shall be $1,497.73 per month. Thereafter, the Monthly rent shall be increased annually as of the date the first payment of each Lease Year is due and beginning with the second Lease Year by an amount equal to 3% of the last Monthly Rent payable during the preceding Lease year.
(c) The Monthly Rent is to be payable in advance on the first day of each calendar month during the term hereof without notice or demand, provided that demand and without setoff and it is to be received at the installment of Base Rent for the fourth Authority’s offices within five (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease5) full calendar month of the Term, and days after the first monthly installment day of Additional each rental month. If the Monthly Rent for Expenses and Taxesis not received in the Authority’s office within five (5) days after the first day of each rental month, there shall be payable imposed upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee a late charge equal to 5% of all past due Rentthe monthly rental amount and the total outstanding balance will be assessed an interest rate equivalent to 12% per annum. If the Commencement Date is not the first day of a calendar month, provided that the Tenant shall be entitled to pay on the first day of the first calendar month following the Commencement Date a grace proportionate amount of the monthly Rent for the period of 5 days for time from the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal Commencement Date to the Bank of America “prime rate”, as date on which such first monthly payment is due.
(d) All amounts and charges in addition to the same may Monthly Rent required to be announced from time paid by the Tenant in accordance with the terms hereof shall be deemed to time, plus two percent be additional rent (2%the "Additional Rent"). Landlord’s acceptance of less than Such amounts or charges, if not paid at the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant time provided in this Lease, shall be collectible as Additional Rent with the next installment of the rent due and payable hereunder, provided, however, that nothing herein contained shall be deemed to suspend or delay the time for any payment to be made by the Tenant hereunder or to limit any other remedy of the Authority.
Appears in 1 contract
Rent. 4.01 5.1 Tenant shall pay Landlordto Landlord as Basic Annual Rent for the Premises, without any setoff or deductioncommencing on the Rent Commencement Date, unless expressly the sum set forth in this LeaseSection 2.7, all Base Rent and Additional Rent due for subject to the Term (collectively referred to as “Rent”)rental adjustments provided in Section 6 hereof. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Basic Annual Rent shall be due and payable paid in equal monthly installments as set forth in Section 2.6, subject to the rental adjustments provided in Section 6 hereof, each in advance on the first day of each and every calendar month without notice or demand, provided that during the installment Term. The Rentable Area of Base Rent the Premises shall be deemed the square footage of the Building for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 purposes of this Lease) full calendar month , including determination of Basic Annual Rent and any other costs allocated to Tenant on the basis of the Termsquare footage of the Premises or the Building.
5.2 In addition to Basic Annual Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) amounts of Insurance Costs and Taxes (each as defined below) and (b) any other amounts that Tenant assumes or agrees to pay under the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution 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. All other items , after notice and the lapse of any applicable cure periods.
5.3 Basic Annual Rent and Additional Rent shall together be denominated “Rent.” Rent shall be due and payable by Tenant 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 2.13 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 or {QuinStreeta day other than the first day of a calendar month, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. then the Rent for such fraction of a month shall be made payable to prorated for such period on the entity, and sent to basis of the address, Landlord designates number of days in that month and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days paid at the then-current rate for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasesuch fractional month.
Appears in 1 contract
Samples: Lease (Zosano Pharma Corp)
Rent. 4.01 A. Tenant shall covenants to pay Landlordto Landlord during the Lease Term, without any setoff or deductiondeduction except as otherwise expressly provided herein, unless expressly set forth in this Lease, the full amount of all Base Rent and Additional Rent due for hereunder and the Term (collectively referred to full amount of all such other sums of money as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord shall become due under this Lease. , all of which hereinafter may be collectively called "Rent." In addition, Tenant shall pay and be liable for pay, as Additional Rent, all rentalrent, sales and use taxes (but excluding income or other similar taxes), if any, levied or imposed upon by any city, state, county or measured other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by RentTenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and recurring monthly charges of Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without notice demand. If the Lease Term commences on a day other than the first day of a month or demandterminates on a day other than the last day of a month, provided that then the installment installments of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, such month or months shall be payable upon prorated, based on the execution number of this Lease by Tenantdays in such month. All other items of amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant's covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. To the extent allowed by law, all installments of Rent not paid when due and payable by Tenant on or {QuinStreetshall bear interest at the Default Rate from the date due until paid, Inc. -6-00004264.} May 30provided, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for three (3) Business Days after notice from Landlord with respect to the first 2 two (2) late payments of Rent in a any calendar year. In addition, past if Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent when due Rent shall accrue interest at and payable hereunder, a rate per annum "Late Charge" equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two five percent (25%). ) of such unpaid amount will be due and payable immediately by Tenant to Landlord’s acceptance of less than the correct amount of Rent , provided, Tenant shall be considered entitled to a payment on account grace period of three (3) Business Days after notice from Landlord with respect to the earliest first two (2) late payments in any calendar year.
C. The Additional Rent due. Rent for any partial month during the Term payable hereunder shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent adjusted from time-to-time in accordance with the provisions of every other covenant in this LeaseExhibit C attached hereto.
Appears in 1 contract
Rent. 4.01 4.1 Tenant shall agrees to pay Landlordto Landlord commencing on the date which is the later to occur of the Commencement Date or June 30, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term 1994 (collectively hereinafter referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rentthe "Rent Commencement Date") that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base a Fixed Annual Net Rent and recurring at the rates set forth on the Rent Schedule annexed hereto as Exhibit C in equal monthly charges of Additional Rent installments shall be due and payable in advance on the first day of each calendar month during the term hereof without notice or of demand, provided that the installment of Base Rent and without deduction, abatement, or set off for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of any reason whatsoever, except as in this Lease) full calendar month of the Term, and the Lease specifically provided. The first monthly installment shall be paid on the date hereof. If the Rent Commencement Date shall be on a day other than the first day of Additional a calendar month, the Fixed Rent for Expenses of such first fractional month shall be prorated and Taxesshall be paid by Tenant to Landlord on said date. All amounts payable hereunder, as well as other amounts payable by Tenant to Landlord under the terms of this lease, shall be payable upon paid at the execution office of this Lease by Tenant. All the Landlord set forth above or at such other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, places as Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to timetime designate by notice to Tenant.
4.2 Upon substantial completion of the Building, plus two percent (2%). Landlord’s acceptance 's architect shall certify in writing to Landlord and Tenant the number of less than square feet of floor area contained in the correct amount of Demised Premises measured from exterior wall to exterior wall.
4.3 It is intended that the Fixed Rent provided for in paragraph 4.1 shall be considered absolutely net return to Landlord throughout the term hereof, free of any expense charge or other deduction whatsoever, with respect to the Demised Premises, the Building and/or the ownership, leasing, operation, management, maintenance, repair, rebuilding, use or occupation thereof or any portion thereof with respect to any interest of Landlord therein.
4.4 In the event that any installment of rent due hereunder is not received when due a payment "late charge" of $.04 for each dollar so overdue may be charged by Landlord for each month or part thereof that the same remains overdue. This charge shall be in addition and not in lieu of any other remedy the Landlord may have under the circumstances and it its in addition to any reasonable fees and charges of any agents or attorneys Landlord may employ on account any rental default hereunder whether authorized herein or by law. Any such "late charges" if not previously paid shall, at the option of the earliest Rent due. Rent for any partial month during Landlord, be added to and become part of the Term shall succeeding rental payment to be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasemade hereunder.
Appears in 1 contract
Samples: Lease Modification Agreement (Comfort Systems Usa Inc)
Rent. 4.01 (a) Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth to Landlord as rental the amount specified in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to Basic Lease Information as “Rent”). “Additional Rent” means all sums (exclusive of the Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the commencement of the term and on or before the first day of each and every successive calendar month without notice during the term. If the term commences on other than the first day of a calendar month, the first payment of rent shall be appropriately prorated on the basis of a 30-day month. The anniversary date for rental increases as set forth in the Basic Lease Information shall be the first calendar day of the month in which the Lease term commenced. If the last day of the term falls on a date other than the last day of the month, then the term shall be extended so that the last day of the term shall be the last calendar day of the month in which the term would otherwise end.
(b) Tenant shall pay, as additional rent, all amounts of money required to be paid to Landlord by Tenant under this Lease in addition to monthly rent, whether or demandnot the same be designated "additional rent". If such --------------- amounts are not paid at the time provided in this Lease, they shall nevertheless be a collectable as additional rent with the next installment of monthly rent thereafter falling due, but nothing herein contained shall be deemed to suspend or delay the payment of any amount of money at the time the same becomes due and payable hereunder, or limit any other remedy of Landlord.
(c) Tenant hereby acknowledges that late payment by the 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 trust deed covering the premises. Accordingly, if any installments of rent or any other sums due from Tenant shall not be received by Landlord when due, then Tenant shall pay to Landlord a late charge equal to six percent (6%) of such overdue amount. The parties hereby agree that such late charges represent a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Xxxxxx. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder
(d) Any amount due to Landlord, if not paid when due, shall bear interest from the date due until the date paid at the rate of ten percent (10%) per annum, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, interest shall not be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and 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. Payment of interest shall not excuse or {QuinStreet, Inc. -6-00004264cure any default hereunder by Xxxxxx.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent
(e) All payments due from Tenant to Landlord hereunder shall be made payable to Landlord without deduction or offset in lawful money of the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank United States of America “prime rate”at Landlord's address for notices hereunder, or to such other person or at such other place as the same Landlord may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. time designate in writing to Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 1 contract
Samples: Net Office Lease (Xenogen Corp)
Rent. Section 4.01 Tenant shall covenants to pay Landlord, without any setoff or deduction, unless expressly set forth to Landlord in this Lease, all Base Rent and Additional Rent due for lawful United States currency the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Annual Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. All Annual Base Rent and recurring monthly charges of Additional Rent shall be due payable, in equal monthly installments, in advance, beginning on the Commencement Date, and payable in advance continuing on the first day of each and every calendar month without notice or demandthereafter during the Term, provided that no Annual Base Rent shall be payable during the installment Free Rent Period. Should the Commencement Date fall on a day other than the first day of Base the month, then Tenant shall pay Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar fractional month commencing on the Commencement Date and ending on the last day of the Termmonth in which the Commencement Date occurs on a per diem basis (calculated on the basis of a thirty-day month), and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon occupancy of the execution of this Lease Premises by Tenant. All Rent, including, without limitation, Additional Rent, and other items of Rent payments to Landlord under this Lease shall be due and payable by Tenant on paid to Landlord, without demand, setoff, or {QuinStreetdeduction whatsoever, Inc. -6-00004264.} May 30except as specifically provided in this Lease, 2003 Matter ID Number: 7329 before 30 days after billing by at Landlord’s Notice Address or at such other place as Landlord shall designate in writing to Tenant. Rent shall be made payable Except to the entityextent otherwise provided herein, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant obligations to pay Rent is and other amounts due under this Lease are covenants independent of every other covenant in the Landlord’s obligations under this Lease.
Section 4.02 All monetary obligations of Tenant to Landlord under this Lease, of any type or nature, other than Annual Base Rent, shall be denominated as “Additional Rent”. Landlord shall have the same rights and remedies with respect to defaults in the payment of Additional Rent as set forth in this Lease with respect to payment of Annual Base Rent. The term “Rent” when used in this Lease shall be deemed to include Annual Base Rent and all forms of Additional Rent.
Appears in 1 contract
Samples: Lease Agreement (Microphase Corp)
Rent. 4.01 A. Tenant shall pay Base Rent to Landlord in the manner provided in Section 5.B in equal consecutive monthly installments in advance on or before the 1st day of each calendar month commencing as of the Commencement Date and continuing through the Term. If the Term commences on a day other than the first day of a calendar month, or ends on a day other than the last day of a calendar month, Base Rent for such month shall be prorated by multiplying such Base Rent by a fraction, the numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be prorated pursuant to this Section 5.A, on the Commencement Date in connection with Landlord, without any setoff or deduction, unless expressly set forth in ’s acquisition of the Premises pursuant to the Purchase Agreement.
B. For purposes of this Lease, the Base Rent, the Real Estate Taxes, the Utility Charges and any and all Base Rent other amounts, sums, charges, liabilities and Additional Rent due obligations which Tenant assumes or agrees to pay or may become liable for the Term (under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. All Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff under any circumstances, in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time.
C. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within five (5) days of the date it is due for any reason, Tenant shall pay Landlord upon demand a late charge equal to the lesser of (i) seven percent (7%) of the delinquent installment of Rent and (ii) the highest amount allowed by applicable Law (each a “Late Charge”). “Additional Rent” means all sums The parties agree that this late charge represents a fair and reasonable estimate of the costs and expenses (exclusive of Base Rentincluding economic losses) that Landlord will incur by reason of late payment by Tenant. The parties further agree that such late charge is Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, any amount of delinquent Rent (including the amount of any Late Charge) due to Landlord shall accrue interest at the Default Rate from the date on which such Rent was due up to the date that such Rent is paid. The payment of such late charge or such interest shall not constitute waiver of, nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Without limitation of the foregoing, Tenant shall be responsible for payment of all interest, late charges, and other actual costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges that are the responsibility of Tenant hereunder.
D. For any non-scheduled payment of Rent hereunder that is required payable by Tenant on demand by Landlord, such shall be due ten (10) days following written demand therefor by Landlord, without abatement, deduction, or setoff under any circumstances.
E. Upon the Commencement Date, Tenant shall deposit with Landlord an amount equal to pay Landlord fourteen million three hundred seventy-nine thousand four hundred fifty-six and 40/100 Dollars ($14,379,456.40) (the “Security Deposit”) to secure Tenant’s obligations under this Lease. Upon the earlier of the fifth (5th) anniversary of the Commencement Date and the termination of this Lease, the Security Deposit shall be returned to Tenant, less (i) any amounts required to repair any damages to the Premises, subject to normal wear and tear; and (ii) any unpaid and outstanding monetary obligations of Tenant under this Lease. Upon a monetary Event of Default and Tenant’s failure to cure same following expiration of the applicable notice and cure period, Landlord may use the Security Deposit to satisfy any such unpaid monetary obligation of Tenant, and Tenant shall, within five (5) Business Days following written notice from Landlord thereof, deposit with Landlord an amount sufficient to replenish the Security Deposit to the same amount as of the Commencement Date; provided, however, if the Security Deposit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Security Deposit in accordance with this Lease, then Landlord shall have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Tenant shall pay be permitted to deposit an irrevocable standby letter of credit in form and substance reasonably acceptable to Landlord (“Letter of Credit”) as the Security Deposit. Upon a monetary Event of Default and Tenant’s failure to cure same following expiration of the applicable notice and cure period, Landlord may draw on such Letter of Credit to satisfy any such unpaid monetary obligation of Tenant, and Tenant shall, within five (5) Business Days following written notice from Landlord thereof, deposit with Landlord a replacement Letter of Credit sufficient to replenish the Security Deposit to its original amount; provided, however, if the Letter of Credit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Letter of Credit in accordance with this Lease, then Landlord shall have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Any Letter of Credit posted by Tenant pursuant to this Lease shall be liable for all rentalissued (the following collectively, sales and use taxes the “LC Issuer Requirements”): (but excluding income taxesa) by a commercial bank with a net worth of at least Ten Billion Dollars ($ 10,000,000,000), if any(b) that is chartered under the laws of the United States, imposed any State thereof or the District of Columbia, and which is insured by the Federal Deposit Insurance Corporation, (c) whose long-term, unsecured and unsubordinated debt obligations are rated in the highest category by at least two of Fitch Ratings Ltd. (Fitch), Xxxxx’x Investors Service, Inc. (Moody’s) and Standard & Poor’s Ratings Services (S&P) (the “Rating Agencies”) or their respective successors (which shall mean A-from Fitch, A3 from Moody’s and A-from Standard & Poor’s), (d) which has a short term deposit rating in the highest category from at least two Rating Agencies (which shall mean F2 from Fitch, P-2 from Moody’s and A-2 from S&P), and (e) which is not insolvent and is not placed into receivership or conservatorship by the Federal Deposit Insurance Corporation, or any successor or similar entity, and for which no trustee, receiver or liquidator is appointed. If at any time following the delivery of the Letter of Credit by Tenant pursuant to this Section 5.E the LC Issuer Requirements are not satisfied, then Tenant shall, no later than ten (10) business days after the earlier of (i) Tenant acquiring knowledge that the LC Issuer Requirements are not satisfied and (ii) receipt of written notice thereof, deliver to Landlord either a replacement Letter of Credit which meets the LC Issuer Requirements or cash in the amount of the Security Deposit. If Tenant fails to deliver a replacement Letter of Credit from an institution that satisfies the LC Issuer Requirements or such cash Security Deposit to Landlord within such ten (10) business day period, Landlord, at its option, upon the delivery of written notice to Tenant may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit. It is Tenant’s responsibility to maintain and renew the Letter of Credit such that it is in effect at all times until the return of the Letter of Credit to Tenant in accordance herewith. Tenant shall renew such Letter of Credit no later than thirty (30) days prior to any expiration date thereof or measured by Rentreplace such Letter of Credit with a replacement Letter of Credit which otherwise meets the LC Issuer Requirements or with a cash Security Deposit. If Tenant has not renewed the Letter of Credit (and delivered the original of such renewal documentation to Landlord) or delivered a satisfactory replacement Letter of Credit or cash Security Deposit to Landlord at least thirty (30) days prior to the expiration date of the Letter of Credit, Landlord, at its option, may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit. Notwithstanding anything to the contrary contained herein, until the Lease is severed in accordance with Section 45, in the event Tenant believes in good faith that Tenant is entitled to receive insurance proceeds in accordance with Section 18 or condemnation proceeds in accordance with Section 19 and Landlord refuses, in violation of the terms hereof, to make such proceeds available to Tenant with respect to a Site, Tenant shall have the right to withhold Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on an amount up to the first day of each calendar month without notice or demand, provided that the installment of Allocated Base Rent for applicable to such Site until such dispute is resolved (and Landlord shall not have the fourth (subject to Tenant’s right to receive Abated draw against either the Security Deposit or Letter of Credit with respect to the Base Rent so withheld); provided that, (i) Tenant shall not be entitled to withhold Base Rent pursuant to Section 1.03 the foregoing for more than five (5) Sites at any given time, (ii) Tenant shall only be entitled to withhold Base Rent in an aggregate amount with respect to any such Site not to exceed the amount of this Leaseproceeds in dispute with respect to such Site, (iii) full calendar month upon resolution of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. such dispute Tenant shall pay to Landlord an administration fee equal the amount of Base Rent withheld in accordance with this paragraph plus, if Tenant was not entitled to 5% such proceeds, interest thereon calculated at the Default Rate, and (iv) the foregoing shall not (A) restrict Landlord’s right to draw against either the Security Deposit or Letter of all past due Rent, provided Credit with respect to (x) any amount of Base Rent that Tenant shall be entitled fails to a grace period pay in excess of 5 days for such disputed insurance proceeds or otherwise fails to pay other than in accordance with the first 2 late payments foregoing or (y) any other monetary Event of Default or (B) grant or imply any right to Tenant to withhold any Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent hereunder for any partial month during the Term shall be prorated. No endorsement other reason (and any such withholding or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant failure to pay Rent is independent when due shall be an Event of every other covenant Default in this Leaseaccordance with the terms and provisions hereof).
Appears in 1 contract
Samples: Master Lease Agreement (Cracker Barrel Old Country Store, Inc)
Rent. 4.01 4.1 Tenant shall pay Landlordto Landlord the Annual Base Rent, without any setoff or deductionas it may be adjusted pursuant to Section 3.2, unless expressly set forth commencing on the Commencement Date. The Annual Base Rent shall be paid in Monthly Installments of Base Rent. In addition to the Annual Base Rent, Tenant shall pay as Additional Rent (the “Additional Rent”) certain charges designated in this Lease, all . The Annual and Monthly Base Rent are sometimes generically referred herein as the “Base Rent,” and the Base Rent and Additional Rent due for collectively the Term (collectively referred to as “Rent.”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease.
4.2 Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on Landlord the first day of each calendar month without notice or demand, provided that the installment Monthly Installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon simultaneously with the execution and delivery of this Lease by Tenant. All other items Rent will be paid to the order of Landlord, in advance, except as expressly set forth in Section 11.3, without any abatement, setoffs or deductions, on the first day of each and every calendar month (the “Rent Day”) at Landlord’s Office, or at such other place as Landlord may designate in writing. In the event the Commencement Date is other than the first day of a calendar month, the Rent for the partial first calendar month of the Term will be prorated on a daily basis based on the number of days in the month. Rent for such partial calendar month shall be paid on the Commencement Date. Any Rent or other sums, if any, payable by Tenant to Landlord under this Lease which are not paid within five (5) days after they are due, and any Rent or other sums received and accepted by Landlord more than five (5) days after they are due, will be subject to a late charge of five (5%) percent of the amount due. Such late charges will be due and payable by Tenant as Additional Rent on or {QuinStreet, Inc. -6-00004264before the next Rent Day.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord.
4.3 Landlord and Tenant acknowledge and agree that the Base Rent shall be due hereunder together with any adjustments thereto made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term of this Lease shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord absolutely net of all costs, expenses, taxes (real and satisfaction. Tenant’s covenant to pay Rent is independent personal), assessments and charges of every other covenant in this Leasekind and nature whatsoever relating to the ownership, occupancy or use of the Premises so that the rental together with any such adjustments constitute the minimum income realized by Landlord from the Premises. Tenant will indemnify and hold harmless Landlord from and against such costs, expenses and charges.
Appears in 1 contract
Rent. 4.01 4.1. Tenant shall pay Landlord, without any setoff or deduction, unless expressly to Landlord the Annual Base Rent as set forth in Section 1.12. The Annual Base Rent shall be paid in Monthly Installments of Base Rent as set forth in Section 1.13. In addition to the Annual Base Rent, Tenant shall pay as additional rent (the “Additional Rent”) all applicable sales tax plus certain charges designated in this Lease, all . The Annual and Monthly Base Rent are sometimes generically referred to herein as the “Base Rent,” and the Base Rent and Additional Rent due for the Term (are sometimes collectively referred to as the “Rent.”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease
4.2. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Landlord the first Monthly Installment of Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon Security Deposit simultaneously with the execution and delivery of this Lease by Tenant. All other items Rent will be paid to the order of Landlord, in advance, except as expressly set forth in Section 11.4, without any abatement, setoffs or deductions, on the first day of each and every calendar month (the “Rent Day”) at Landlord’s Office, or at such other place as Landlord may designate in writing. In the event the Commencement Date is other than the first day of a calendar month, the Rent for the partial first calendar month of the Term will be prorated on a daily basis based on the number of days in the month. Rent for such partial calendar month shall be paid on the Commencement Date. Any Rent or other sums, if any, payable by Tenant to Landlord under this Lease which are not paid within ten (10) business days after they are due, and any Rent or other sums received and accepted by Landlord more than ten (10) business days after they are due, will be subject to a late charge of five (5%) percent of the amount due. Such late charges will be due and payable by Tenant as additional rent on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlordthe next Rent Day. Rent due during the first thirty (30) days following the Commencement Date will not be subject to a late charge.
4.3. Landlord and Tenant acknowledge and agree that the Base Rent due hereunder together with any adjustments thereto made during the Term of this Lease shall be made payable absolutely net of all costs, expenses, taxes (real and personal), assessments and charges of every kind and nature whatsoever relating to the entityownership, occupancy or use of the Premises so that the rental together with any such adjustments constitute the minimum income realized by Landlord from the Premises. Landlord and sent to the address, Landlord designates Tenant further acknowledge and shall be made by good and sufficient check or by other means acceptable to Landlord. agree that Tenant shall pay Landlord an administration fee equal to 5% for all sales and similar taxes imposed upon the payment of all past due Base Rent, provided that Additional Rent and any and all other charges payable by Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent hereunder. Tenant will indemnify and hold harmless Landlord from and against such costs, expenses and charges. Notwithstanding anything contained in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal this Section 4.3 to the Bank of America “prime rate”contrary, as the same may be announced from time to time, plus two percent (2%). parties hereto hereby agree that the Tenant Reimbursement and Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent dueincome taxes are specifically excluded from this Section 4.3.
4.4. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant If Tenant fails to pay Rent or any other sum due hereunder to Landlord within ten (10) business days after due on three (3) or more occasions in any twelve month period, Landlord may require, by giving written notice to Tenant (and in addition to any late charge or interest accruing pursuant to Section 4.2 above, as well as any other rights and remedies accruing pursuant to Article 17 below, or any other provision of this Lease or at law), that minimum guaranteed rentals are to be paid quarterly in advance instead of monthly. Any acceptance of a monthly rental payment thereafter by Landlord shall not be construed as a subsequent waiver of said rights. Further, if Tenant makes a payment to Landlord by a check which is independent not honored or is returned unpaid for any reason, Landlord may require, by giving written notice to Tenant (and in addition to any late charge or interest accruing pursuant to Section 4.2 above, as well as any other rights and remedies accruing pursuant to Article 17 below, or any other provision of every other covenant this Lease or at law), that all future rental payments are to be made on or before the due date by cash, certified check, cashier’s check, money order, or wire transfer and that the delivery of Tenant’s personal or corporate check will no longer constitute a payment of rental as provided in this Lease. Any acceptance of any other form of payment thereafter by Landlord shall not be construed as a subsequent waiver of said rights.
Appears in 1 contract
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease3.01. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base the Fixed Rent and recurring in equal monthly charges of Additional Rent shall be due and payable installments in advance on the first day of each and every calendar month without notice or demandduring the Term (except that Tenant shall pay, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution and delivery of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Advance Rent, provided that Tenant shall to be entitled to applied against the first installment or installments of Fixed Rent becoming due under this Lease). If the Commencement Date occurs on a grace period day other than the first day of 5 days a calendar month, the Fixed Rent for the first 2 late payments partial calendar month at the commencement of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated.
3.02. The Rent shall be paid in lawful money of the United States to Landlord at its office, or such other place, or to 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.
3.03. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct Rent shall be deemed to be other than a payment on account, nor shall any endorsement or statement on a any check or any letter accompanying any check or payment shall be considered deemed an accord and satisfaction. Tenant’s covenant , and Landlord may accept such check or payment without prejudice to pay Rent is independent of every Landlord's right to recover the balance or pursue any other covenant remedy in this LeaseLease 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.
3.05. Any Payment due Landlord under this Lease which is not paid on or before five (5) days after the same is due (a "Late Payment"), shall, from the due date, until such payment is received by Landlord, bear interest at the prime rate of Chemical Bank of New York (the "Late Payment Rate"). In addition, Tenant shall pay to Landlord an amount equal to five (5%) percent of any such late payment to cover Landlord's cost of collecting and handling such late payment. Notwithstanding the foregoing, Tenant shall not be charged a late charge for its first late payment during the Term.
Appears in 1 contract
Rent. 4.01 4.1 Tenant shall pay, as rent for the Leased Premises, the following:
(a) During the first year of the Term, an annual base rent for the Leased Premises, excluding the basement, of $13.00 per square foot, for an aggregate annual base rent of $1,072,760.00 (“Above-Ground Base Rent”), payable monthly in the sum of $89,396.66. In addition, during the first through the fifth year of the Term, Tenant shall pay Landlordan annual base rent of $6.00 per square foot for basement space for annual base rent of $127,200.00 (“Base Basement Rent”, without any setoff or deductionand together with the Above-Ground Base Rent, unless expressly set forth the “Base Rent”) based upon an occupancy of 21,200 square feet, payable monthly in the sum of $10,600.
(b) Commencing on the first anniversary of the Lease Commencement date, and on every anniversary date of the Commencement Date thereafter, the Above-Ground Base Rent shall be increased by 3%. Commencing on the sixth anniversary of the Lease Commencement Date, and on every anniversary date of the Commencement Date thereafter, Tenant shall pay Base Basement Rent, based upon an escalation from the Commencement Date at the rate of 3% per year. For avoidance of doubt, annual Base Basement Rent during the sixth Lease year shall be $6.96 per square foot. Thereafter the Base Basement Rent shall continue to escalate by 3% on each anniversary of the Commencement Date.
4.2 Tenant shall also pay the following which shall be referred to herein as “Additional Rent”:
(a) Common Area Expenses as hereafter defined in paragraph 8.1.
(b) Any other charges as provided in this Lease, all . The Base Rent and Additional Rent due for the Term (collectively shall be referred to hereafter as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that .
4.3 Tenant is required covenants to pay Landlord under this Leasethe Rent in lawful money of the United States which shall be legal tender for the payment of all debts, public and private, at the time of payment. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Such Rent shall be due and payable in advance on the first day of each calendar month without notice paid to Landlord via wire transfer or demand, other electronic transfer to an account provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the addressor at such other place or means as Landlord may, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of designate by notice to Tenant.
4.4 The Rent shall be considered a payment on account payable by Tenant without any set-off or deduction of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement kind or statement on a check nature whatsoever and without notice or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasedemand.
Appears in 1 contract
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) third full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, Term shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check payable in United States of America currency or by other means acceptable to Landlord. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee equal to 5% in the amount of all past due Rent$250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 10% per annum, and Tenant shall pay Landlord a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%)commercially reasonable fee for any checks returned by Tenant’s bank for any reason. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest oldest obligation due from Tenant hereunder, then to any current Rent duethen due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term shall be proratedprorated based on a 365-day year. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 1 contract
Samples: Office Lease Agreement (Ironwood Pharmaceuticals Inc)
Rent. 4.01 Tenant shall hereby agrees to pay Landlordthe entire rental amount for the full lease term. All rental payments are to be payable at the office of
A. $ move in prorated rent from the to the day of ; and
B. $ move out prorated rent from the to the day of ; and
C. $ is due no later than the 1st day of each month until the rental for the lease term is fully paid.
D. Rent and other amounts due hereunder are due on the 20th day of the preceding month, without notice, and late on the 21st. If payment is not received by Lessor by the 2nd day of each month, regardless of whether the 2nd day of the month falls upon a Saturday, Sunday, or holiday, late fees will be applied as allowed by state law. Payment is due in funds which are immediately available to Lessor, except that cash will not be accepted. The online payment system is considered a courtesy only, and other arrangements for payment must be made if you do not have access to, or are experiencing issues with your portal. Furthermore, each tenant will have one online payment portal. Online payment portals will not be issued to guarantors on the lease. No late fees will be waived due to issues with accessing the online system. Lessor will provisionally accept payments in the form of personal checks; however, in the event any setoff payment is late, or deductionTenant is otherwise in default, unless expressly or at any time if Lessor so directs in writing, regardless of fault or wrongdoing, Tenant may be required to make subsequent payments by cashier’s check or other form of payment acceptable to Lessor, in its sole discretion. Use of Boulder Property Management’s drop box for making payments, or the payment of all or any part of amounts due in the form of cash, shall be at the sole risk of Tenant, and Lessor shall not be liable for payments which are lost, stolen, or are otherwise not received by Lessor. If tenant elects to mail any payment, Tenant bears the risk of lost mail or late delivery. Checks will be considered on time if they are postmarked on or before the 1st of the month for which rent is due and received within 2 weeks of that due date. In the event that any payment is not received by Lessor by the 21st day of the preceding month for which it is made, Tenant agrees to pay a late charge of $50.00 for the first day late and $10.00 per day (up to the maximum allowed per state law) until payment is made in full including $10.00 for the day on which payment is received. Late fees will begin to automatically apply any time the balance on the account exceeds $200.00 for any reason. In addition, if any payment is dishonored or returned for non-sufficient funds for any reason, a returned payment charge of $40.00 shall also be due from Tenants, plus the amount of any charges imposed by Lessor’s bank. Funds that are not honored by the bank will be considered not received, and full late fees will be applied as if the funds were never received. In the event that a notice to pay or perform covenants or to vacate the premises is served on Tenant or posted on the premises, Tenant agrees to pay a posting charge of $95.00 . Posting notices may occur prior to late fees being imposed. The parties agree that the above charges, as well as other charges and fees set forth in this Leaselease, all Base Rent are liquidated damages and Additional Rent due for are reasonable estimates of the Term (collectively referred internal management expenses which Lessor will incur in such events, which amounts would other be difficult if not impossible to as “Rent”)determine with exactitude at the time. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under The charges and fees described in this Lease. Tenant shall pay paragraph and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 other portions of this Lease) full calendar month lease are distinct and accrue for different reasons, and any or all of them may become due concurrently. Any monthly statement or other notice by Lessor of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be amounts due and payable by from Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account courtesy only, shall not be considered as a binding statement of amounts owed, and shall not be construed to amend this lease or to alter the amounts of any obligations owed hereunder. To avoid lost payments or delays in processing, the address of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement leased premises must appear on a each rent check or letter accompanying payment other form of payment. Notice to one of multiple tenants shall be considered an accord to be notice to all tenants.
E. Boulder Property Management has the right to charge a fee for incomplete records. This means that we are missing pertinent information (for example missing signature on lease, missing guarantor liability form, incomplete background check, etc.). Incomplete records will be $25.00 per document per person for the first month not received, and satisfactionincrease in increments of $25.00 each month for each person and until each document is received.
F. In the event a Tenant bounces a check with his or her bank, they will be subject to a Non-Sufficient Funds (NSF) fee of $40.00 payable to Boulder Property Management. Obviously when a check bounces the rent is considered late and will be subject to late fees of $50.00 plus $10.00 per day and possibly a $95.00 “Demand for Rent or Possession.”
G. Unless otherwise specified in this lease, all notices provided by this lease shall be in writing and shall be delivered to the other party personally, or sent by email, first class mail, postage prepaid, or securely posted on the front door of the premises, or mailed to the Tenant’s covenant last known address. Tenants may send their rent checks or any other written notices to pay Rent the address provided below. To Agent: Boulder Property Management Corp. 0000 00xx Xxxxxx Xxxxx # 000 Xxxxxxx, XX 00000
H. Zoning Regulations: The zoning for this property is independent and Boulder Property Management has informed us that no more than unrelated individuals are allowed to live at this address, per the City of every other covenant in this LeaseBoulder Zoning Codes.
Appears in 1 contract
Samples: Lease Contract
Rent. 4.01 4.1 Tenant hereby agrees to pay Landlord the Base Rent. For purposes of Rent adjustment hereunder, the number of months is measured from the first day of the calendar month in which the Commencement Date falls. Each monthly installment (the “Monthly Rent”) shall be payable by check or by money order or by 3489-000151321/1351 Harbor Bay Pkwy -5- Federal Reserve Automated Clearing House (ACH) deposit to an account as directed by Xxxxxxxx by written notice to Tenant on or before the first day of each calendar month. Xxxxxxxx agrees to accept payment by Federal Reserve Automated Clearing House (ACH) deposit only so long as such system is available for Landlord's use. In addition to the Base Rent, Xxxxxx also agrees to pay LandlordXxxxxx's Share of Operating Expenses and Taxes (each as hereinafter defined), without and any setoff or deduction, unless expressly and all other sums of money as shall become due and payable by Tenant as set forth in this Lease, all Base Rent and of which shall constitute additional rent under this Lease (the “Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and All non-recurring monthly charges payments of Additional Rent shall will be due and payable in advance on as of the first day date that is thirty (30) days after Xxxxxxxx's delivery of each calendar month without notice or demand, provided that an invoice therefor. Landlord expressly reserves the installment of right to apply any payment received to Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All or any other items of Rent that are not paid by Xxxxxx. The Base Rent, the Monthly Rent and the Additional Rent are sometimes hereinafter collectively called “Rent” and shall be paid when due and in lawful money of the United States without demand, deduction, abatement, or offset, except to the extent expressly set forth herein, to the addresses for the rental payment set forth in the Basic Lease Information, or via ACH transfer or as Landlord may designate from time to time by written notice delivered at least thirty (30) days prior to the effective date of the address change.
4.2 In the event any Monthly Rent or Additional Rent or other amount payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 hereunder is not paid within five (5) days after billing by Landlord. Rent shall be made payable to the entityits due date, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay to Landlord an administration fee equal to 5% of all past due a late charge (the “Late Charge”), as Additional Rent, provided that Tenant in an amount of five percent (5%) of the amount of such late payment. Failure to pay any Late Charge following notice and the passage of the cure period described in Section 22.1(a) below shall be entitled to deemed a grace period of 5 days Monetary Default (as hereinafter defined). Provision for the first 2 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 Rent Landlord's right to charge and collect such Late Charges in a calendar yearconnection with any other similar or like late payments. In additionNotwithstanding the foregoing provisions of this Section 4.2, past the Late Charge shall not be imposed with respect to the first late payment in the twelve (12) months following the Commencement Date or with respect to the first late payment in any succeeding twelve (12) month period during the Term unless the applicable payment due Rent from Tenant is not received by Landlord within five (5) days following written notice from Landlord that such payment was not received when due. Following the first such written notice from Landlord in the twelve (12) months following the Commencement Date and the first such written notice in any succeeding twelve (12) month period during the Term (but regardless of whether such payment has been received within such five (5) day period), the Late Charge will be imposed without notice for any subsequent payment due from Tenant during such applicable twelve (12) month period which is not received within five (5) days after its due date.
4.3 All Rents and any other amount payable by Tenant to Landlord hereunder, if not paid when due, shall accrue bear interest from the date due until paid at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced commercial rate established from time to timetime by Bank of America, plus two four percent (24%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account ) per annum; but not in excess of the earliest Rent duemaximum legal rate permitted by law. Rent for Failure to charge or collect such interest in connection with any partial month during the Term one (1) or more delinquent payments shall be proratednot constitute a waiver of Landlord's right to charge and collect such interest in connection with any other or similar or like delinquent payments. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.3489-000151321/1351 Harbor Bay Pkwy -6-
Appears in 1 contract
Samples: Lease Agreement (Penumbra Inc)
Rent. 4.01 5.1 Tenant shall agrees to pay Landlord, without any setoff or deduction, unless expressly Landlord as Basic Annual Rent for the Premises the sum set forth in this LeaseSection 2.1.2, all Base Rent and Additional Rent due for subject to the Term (collectively referred to as “Rent”)rental adjustments provided in Article 6. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Basic Annual Rent shall be due and payable paid in the equal monthly installments set forth in Section 2.1.3, subject to the rental adjustments provided in Article 6 hereof, each in advance on the first day of each and every calendar month without notice or demand, provided that during the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 term of this Lease) full calendar month .
5.2 In addition to Basic Annual Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”), at the times hereinafter specified in this Lease, Operating Expenses as provided in Article 7, Taxes and Assessments, reimbursement and expenses of the TermLandlord’s performance of any obligations of Tenant under this Lease, and all other amounts that Tenant assumes or agrees to pay under the first monthly installment provisions of Additional Rent for Expenses this Lease, including without limitation any and Taxesall other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, shall be payable upon the execution terms, covenants and conditions of this Lease to be performed by Tenant. All other items of .
5.3 Basic Annual Rent and Additional Rent shall together be denominated “Rent.” Except as expressly set forth in this Lease, Rent shall be due and payable by Tenant paid to Landlord, without notice, demand, abatement, suspension, deduction, setoff, counterclaim, or defense except as set forth in this Lease or pursuant to law (unless otherwise set forth in this Lease), at the office of Landlord as set forth in Section 2.1.7 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 or {QuinStreeta day other than the first day of a calendar month, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. then the Rent for such fraction of a month shall be made payable to prorated for such period on the entity, and sent to the address, Landlord designates basis of a thirty (30) day month and shall be made by good and sufficient check or by other means acceptable paid at the then current rate for such fractional month prior to the commencement of the partial month.
5.5 This is an absolutely triple net lease to Landlord. It is the intent of the parties that the Basic Annual Rent payable under this Lease shall be a net return to Landlord and that Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal costs and expenses relating to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant Premises unless otherwise expressly provided in this Lease.
Appears in 1 contract
Rent. 4.01 3.1 Tenant shall pay to Landlord the following amounts as rent for the Premises:
(a) During the term of this Lease, Tenant shall pay to Landlord, without any setoff as base monthly rent, the amounts of monthly rent specified in the Basic Lease Information (the “Triple Net Base Rental Rates”).
(b) During the term of this Lease, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or deductionincurred by Landlord in such calendar year or part thereof.
(c) During the term of this Lease, unless expressly set forth Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year or part thereof.
(d) Throughout the term of this Lease, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease, whether or not such amounts of money and charges are designated “additional rent.” As used in this Lease, “rent” shall mean and include all Base Rent Rent, additional monthly rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that additional rent payable by Tenant is required to pay Landlord under in accordance with this Lease. Tenant shall pay .
3.2 The additional monthly rent payable pursuant to sections 3.1(b) and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent 3.1(c) hereof shall be due calculated and payable paid in advance on accordance with the following procedures:
(a) On or before the first day of each calendar year during the term of this Lease, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord’s estimate of the amounts payable under sections 3.1(b) and 3.1(c) hereof for the ensuing calendar year. On or before the first day of each month without during such ensuing calendar year, Tenant shall pay to Landlord one-twelfth of such estimated amounts. If such notice is not given for any calendar year, Tenant shall continue to pay on the basis of the prior year’s estimate until the month after such notice is given and subsequent payments by Tenant shall be based on Landlord’s estimate contained in such notice. If at any time it appears to Landlord that the amounts payable under sections 3.1(b) and 3.1(c) hereof for the current calendar year will vary from Landlord’s estimate, Landlord may, by giving written notice to Tenant, revise its estimate for such year, and subsequent payments by Tenant for such year shall be based on such revised estimate.
(b) Within a reasonable time after the end of each calendar year, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b) and 3.1(c) hereof for such calendar year certified by Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall, within thirty (30) days after the delivery of such statement, refund Tenant the amount of such excess. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such statement. During the term of this Lease Tenant or its authorized employee or representative shall have the right to inspect the books of Landlord relating to Operating Expenses and Property Taxes, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord’s office in the Building or at such other location as Landlord may reasonably designate, for the purpose of verifying the information in such statement; provided, however, that if Tenant utilizes an independent accountant to perform such review it shall be one of national standing which is reasonably acceptable to Landlord and is not compensated on a contingency basis. Failure by Landlord to give any notice or demand, provided that the installment of Base Rent for the fourth (subject statement to TenantTenant under this section 3.2 shall not waive Landlord’s right to receive Abated Base Rent receive, and Tenant’s obligation to pay, the amounts payable by Tenant under sections 3.1(b) and 3.1(c) hereof.
(c) If the term of this Lease ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b) and 3.1(c) hereof applicable to the calendar year in which the end of the term occurs shall be prorated on the basis which the number of days from the commencement of such calendar year to and including the date on which the end of the term occurs bears to three hundred sixty-five (365). Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be performed after such termination.
(d) Notwithstanding the foregoing provisions of this Section 1.03 3.2, in no event shall the amount payable by Tenant for Operating Expenses and Property Taxes in any year during the term of this Lease exceed by more than four percent (4%) the amount payable by Tenant for Operating Expenses and Property Taxes in the immediately preceding year. Notwithstanding the foregoing, this provision 3.2(d) shall expire January 9, 2008.
3.3 Tenant shall pay all monthly rent to Landlord, in advance, on or before the first day of each and every calendar month during the term of this Lease) full calendar month , without notice, demand, deduction or offset, in lawful money of the Term, and the first United States of America. Landlord instructs Tenant to pay all such monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable rent to the entityaddress specified in the Basic Lease Information, and sent or to the address, such other person or at such other place as Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant time designate in this Leasewriting.
Appears in 1 contract
Samples: Office Lease (PeopleSupport, Inc.)
Rent. 4.01 1.1 Tenant shall pay to Landlord the following amounts as rent for the Premises:
(a) During the Lease Term, Tenant shall pay to Landlord, as monthly rent, the base rent specified in the Basic Lease Information (the “Base Rent”).
(b) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or incurred by Landlord in such calendar year.
(c) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year.
(d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the actual cost incurred by Landlord with respect to all electricity, chilled water, air conditioning, gas, fuel, steam, heat, light, power and other utilities consumed within the Premises, as more particularly described herein (all such costs payable by Tenant pursuant to this section 3.1(d) shall be referred to as “Tenant’s Monthly Utility Charge”, and all such amounts shall constitute rent hereunder).
(i) All electricity directly serving the Premises (“Direct Electrical Costs”) shall be metered or submetered and Tenant shall pay, as monthly rental, the actual cost (without mark up by Landlord) of all such Direct Electrical Costs either to Landlord as a reimbursement, or, at Landlord’s election, as a payment directly to the entity providing such electricity. Such payments to Landlord of Direct Electrical Costs shall be made within thirty (30) days of Landlord’s delivery of an invoice to Tenant therefor.
(ii) With respect to all utility costs for the Premises other than Direct Electrical Costs (collectively, “Other Utility Costs”), Landlord shall have the right, from 1131701.06/SF372493-00050/1-31-20/pwn/pwn -4- time to time, to equitably allocate some or all of such Other Utility Costs among different portions or occupants of the Building (“Cost Pools”), in Landlord’s reasonable discretion. Such Cost Pools may include, but shall not be limited to, office space tenants, residential space occupants, and retail space tenants of the Building. The utility costs within each such Cost Pool shall be allocated and charged to the tenants within such Cost Pool in an equitable manner (without markup by Landlord).
(e) Throughout the Lease Term, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease, whether or not such amounts of money and charges are otherwise designated “additional rent.” As used in this Lease, “rent” shall mean and include all Base Rent, all additional rent and all other amounts payable by Tenant in accordance with this Lease.
1.2 The additional rent payable pursuant to sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof shall be calculated and paid in accordance with the following procedures:
(a) On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord’s estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the ensuing calendar year. On or before the first day of each month during such ensuing calendar year, Tenant shall pay to Landlord, as monthly rent, one-twelfth of such estimated amounts. If such notice is not given for any setoff calendar year, Tenant shall continue to pay on the basis of the prior calendar year’s estimate until the month after such notice is given. If at any time it appears to Landlord that the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the current calendar year will vary from Landlord’s estimate, Landlord may, by giving written notice to Tenant, revise its estimate for such calendar year. If Landlord delivers its estimate after the first day of a calendar year, or deductionif Landlord revises its estimate for a calendar year, unless then subsequent payments by Tenant for such calendar year shall be based on such late or revised estimate, as the case may be, with an appropriate adjustment to the amount of such subsequent payments such that, prior to the end of such calendar year or portion thereof during the Lease Term, Tenant shall have paid Landlord’s entire estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year.
(b) Within a reasonable time after the end of each calendar year, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year certified by Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall credit the excess to the next succeeding monthly installments payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such statement. Failure by Landlord to give any notice or statement to Tenant under this section 3.2 shall not waive Landlord’s right to receive, and Tenant’s obligation to pay, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. During the Lease Term, but in no event more often than once in any one (1) year period, Tenant or its authorized employee or representative shall have the right to inspect the books of Landlord relating to Operating Expenses and Property Taxes, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord’s office in the Building or at such other location as Landlord may designate, for the purpose of verifying the information in such statement; provided that, if Tenant utilizes an independent accountant to perform such review, then such accountant shall be one of national standing which is reasonably acceptable to Landlord and is not compensated on a contingency basis; and provided further that Tenant shall have no right to inspect such books pertaining to any given period more than one hundred eighty (180) days after Landlord shall have delivered the written statement pertaining to such period. If Xxxxxx wishes to dispute an amount shown on the annual statement, Tenant shall give Landlord written notice of such dispute within one hundred eighty (180) days after Xxxxxx’s receipt of the annual statement. If Tenant does not give Landlord such notice within such time, Tenant shall have waived its right to dispute the annual statement. Promptly after the receipt of 1131701.06/SF372493-00050/1-31-20/pwn/pwn -5- such written notice from Tenant, Landlord and Tenant shall endeavor in good faith to resolve such dispute. If such efforts do not succeed, Xxxxxx shall have the right to cause a nationally recognized independent certified public accountant designated by Tenant, to be paid on an hourly and not a contingent fee basis, to audit the items questioned by Tenant in its original notice contesting the annual statement, provided that Tenant (i) notifies Landlord in writing of Tenant’s intention to exercise such audit right within thirty (30) days after the relevant initial written notice from Tenant to Landlord with respect to such dispute, (ii) actually begins such audit within thirty (30) days after the notice from Tenant to Landlord advising Landlord that Tenant will require an audit (provided that such 30-day period within which the audit must be commenced shall be extended by the length of any delay in the commencement of the audit that is caused by Landlord) and (iii) diligently pursues such audit to completion as quickly as reasonably possible. Xxxxxxxx agrees to make available to Xxxxxx’s auditors, at Landlord’s office in San Francisco and/or at Landlord’s office in the Building (at Landlord’s sole option), the books and records relevant to the audit for review and copying, but such books and records may not be removed from Landlord’s offices. Tenant shall bear all costs of such audit, including Landlord’s actual copying costs and personnel costs, if any incurred in connection with such audit (provided that, prior to incurring any personnel costs in connection with any such audit, Landlord shall advise Tenant of Landlord’s anticipated personnel costs so that Tenant may, at Tenant’s option, modify Tenant’s activities with regard to such audit in order to preclude the need for Landlord to incur such personnel costs), except that, if the audit (as conducted and certified by the auditor) shows an aggregate overstatement of Operating Expenses of five (5%) or more, and Landlord’s auditors concur in such findings (or, in the absence of such concurrence, such overstatement is confirmed by a court of competent jurisdiction or such other dispute resolution mechanism as to which the parties mutually agree in writing), then Landlord shall bear all costs of the audit. If the agreed or confirmed audit shows an underpayment of Operating Expenses by Xxxxxx, Tenant shall pay to Landlord, within thirty (30) days after the audit is agreed to or confirmed, the amount owed to Landlord, and, if the agreed or confirmed audit shows an overpayment of Operating Expenses by Xxxxxx, Landlord shall reimburse Tenant for such overpayment within thirty (30) days after the audit is agreed to or confirmed. Notwithstanding anything to the contrary set forth above, Xxxxxx’s audit rights under this section 3.2(b) shall be conditioned upon (i) Tenant having paid the total amounts billed by Landlord under this Article 3 within the time stipulated herein for payment (including, without limitation, the contested amounts) and (ii) Tenant executing, prior to the commencement of the audit, a confidentiality agreement in form and substance reasonably satisfactory to Landlord in which Tenant shall agree to keep confidential, and not disclose to any other party, the results of any such audit or any action taken by Landlord in response thereto.
(c) If the Lease Term ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof applicable to the calendar year in which the end of the term occurs shall be prorated on the basis which the number of days from the commencement of such calendar year to and including the date on which the end of the term occurs bears to three hundred sixty-five (365). Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be performed after such termination.
1.3 Tenant shall pay all monthly installments of Base Rent and monthly installments of Landlord’s estimates of amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof (collectively, “Monthly Rent”) to Landlord, in advance, on or before the first day of each and every calendar month during the Lease Term, without notice, demand, deduction or offset except as otherwise expressly set forth in this Lease, in lawful money of the United States of America. Landlord instructs Tenant to pay all such Monthly Rent to the address specified therefor in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect. If Xxxxxx’s obligation to pay Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance hereunder commences on a day other than the first day of each a calendar month, or if the Lease Term terminates on a day other than the last day of a calendar month, then the Base Rent payable for 1131701.06/SF372493-00050/1-31-20/pwn/pwn -6- such partial month without notice or demandshall be appropriately prorated on the basis of a thirty (30)-day month. Upon signing this Lease, provided that Tenant shall pay to Landlord an amount equal to the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) first full calendar month of the TermTerm in which monthly Base Rent is payable, and which amount Landlord shall apply to the first monthly installment of Additional Base Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264such first full calendar month.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 1 contract
Samples: Lease (Dexcom Inc)
Rent. 4.01 (a) Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due to Landlord as basic rent for the Term Premises the sum per month specified in the Lease Summary (collectively referred to as “Basic Rent”). “Additional Rent” means all sums .
(exclusive of Base Rentb) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Basic Rent shall be due paid to Landlord on or before the first day of the Term hereof and payable in advance on or before the first day of each and every successive calendar month without notice or demandthereafter during the Term hereof, provided except that the installment of Base Basic Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) first full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon paid concurrently with the execution of this Lease by TenantXxxxxx. In the event the Term commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, then Basic Rent for the first and last fractional months of the Term hereof shall be appropriately prorated on the basis of a thirty (30) day calendar month.
(c) All charges, assessments, taxes, expenses, reimbursements and other items amounts of any kind whatsoever collectively payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent for purposes of collection only (collectively “Additional Rent”). Landlord shall have the same remedies for default in the payment of Additional Rent as for default in the payment of Basic Rent. Basic Rent and Additional Rent are collectively referred to herein as “Rent.”
(d) All Rent shall be due and paid to Landlord, without deduction or offset, in lawful money of the United States of America at Landlord’s address for notices hereunder or to such other person or at such other place as Landlord may from time to time designate in writing. All Rent payable by Tenant on or {QuinStreetto Landlord hereunder, Inc. -6-00004264.} May 30if not received by Landlord when due, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to bear interest from the entity, and sent to due date until paid at the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be publicly announced from time to timetime by Bank of America, N.T.& S.A. (or any successor bank) at its main office as its then current “Reference Rate” for short term, unsecured loans or any successor rate of interest to said Reference Rate, plus two four percent (24%) per annum, but in no event shall such interest exceed the maximum rate permitted by law (“Default Rate”). LandlordAny change in the Default Rate shall become effective on the same date on which a change in the Reference Rate becomes effective. Xxxxxxxx’s acceptance of less than any interest payments shall not constitute a waiver of Tenant’s default with respect to the correct overdue amount of Rent shall be considered a payment on account or prevent Landlord from exercising any of the earliest Rent due. Rent for rights and remedies available to Landlord under this Lease or by law.
(e) Notwithstanding the stated intent of Tenant with respect to any partial month during payment made to Landlord, Landlord shall have the Term shall be prorated. No endorsement or statement on a check or letter accompanying right to allocate any payment shall be considered an accord received from Tenant to any amount otherwise owing from Tenant hereunder in Landlord’s sole and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leaseabsolute discretion.
Appears in 1 contract
Samples: Office Lease (Intersearch Group Inc)
Rent. 4.01 Tenant shall pay Landlordto Landlord the Base Rent, Real Property Taxes (as herein defined) and Operating Expenses (as herein defined), without any setoff notice, demand, offset or deduction, unless expressly set forth in this Leaseadvance, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenantmonth. All other items of Rent shall and payments required to be due and payable paid by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent to Landlord shall be made by Tenant payable to the entity, entity and sent to the address, address Landlord designates and shall be made by good and sufficient check payable in United States of America currency or by other means acceptable to LandlordLandlord or by Electronic Fund Transfer of immediately available federal funds before 11:00 a.m. Eastern Time. Upon the execution of this Lease, Tenant shall pay to Landlord the first month’s Base Rent, the Security Deposit, and the first monthly installment of estimated Operating Expenses. If the Term commences (or ends) on a date other than the first (or last) day of a month, Base Rent shall be prorated on the basis of a thirty (30) day month. All sums other than Base Rent which Tenant is obligated to pay under this Lease shall be deemed to be additional rent due hereunder (“Additional Rent”), whether or not such sums are designated Additional Rent. The term “Rent” means the Base Rent and all Additional Rent payable hereunder. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall pay Landlord an administration fee equal have no right at any time to 5% of all past xxxxx, reduce, or set-off any rent due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, hereunder except as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or Additional Rent for more than five (5) days, Tenant shall pay to Landlord on demand a late charge equal to ten percent (10%) of such delinquent sum and such delinquent sum shall also bear interest from the date such amount was due until paid in full at the lesser of (i) fifteen percent (15%) per annum; or (ii) at the maximum rate permitted by law (“Applicable Interest Rate”). The provision for such late charge shall be in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not be construed as a penalty.
Appears in 1 contract
Samples: Multi Tenant Industrial Triple Net Lease (Chardan NexTech Acquisition 2 Corp.)
Rent. 4.01 Tenant 1.1 The Lessor has given the said property on rent and the Lessee has taken the same on rent at a monthly rent of Rs. (Rupees ). The said rent shall pay Landlordbe paid without any deduction or reduction but subject to Taxes Deducted at Source (TDS) under the provision of the Income Tax Act.
1.2 This Lease is what is commonly called a gross lease i.e. the operating costs such as utilities charges, common area maintenance charges, insurance charges, property tax etc. are incurred by the lessor as described in this agreement. The Lessor shall receive the rent set forth in Article 1.1 above, without any setoff offset or deduction, unless expressly set forth (except as otherwise provided) and free and clear of any and all impositions, property taxes, liens, charges or expenses of any nature whatsoever in this Lease, all Base Rent connection with the ownership and Additional Rent due for operation of the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant Premises.
1.3 The Lessee shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured the said monthly rent to the Lessor by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month English Calendar month, in advance without notice any delay or demanddefault. The rent shall be deposited either in cash, provided by cheque or electronically in the Lessor’s bank account, details of which are given here as under: Lessor’s Bank Details:
1.4 Monthly Lease Rent is subject to increase by % after expiry of every years(s) and the said rent shall be paid as follows:
1.5 Failure on the part of the Lessee to effect the remittance in time will entail, without prejudice to other rights and remedies of the Lessor referred herein the said Deed, the Lessee having to pay interest @ 18% per annum calculated on day to day basis, and will also result into breach of this Deed, giving rise to the right of termination to the Lessor.
1.6 It has been agreed by the Lessee that under no circumstances the installment Lessee shall reduce or intimate the Lessor to reduce the lease rent of Base Rent the said premises and further it is immaterial and irrelevant for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month Lessor and / or for any of the Termterms & conditions of the said Lease Agreement that whether the Lessee doing loss and / or the market going through recession or whatsoever. Meaning thereby the Lessee shall continue to pay the lease rent during the entire lease period as agreed hereinabove without any reduction / revision in it. Further, the Lessee shall in no event reduce / intimate the lessor to reduce the area of said premise, meaning thereby the Lessee shall use / occupy the said premises in whole during the entire lease period and the first monthly installment if any of Additional Rent for Expenses and Taxessuch action is taken by lessee, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may shall not be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than accepted by the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this LeaseLessor.
Appears in 1 contract
Samples: Gross Lease Agreement
Rent. 4.01 Tenant During the Lease Term, Tenants, jointly and severally, shall pay Landlord, without any setoff or deduction, unless expressly set forth a total rent to Landlord in the amount of $ (less rent credits for paying online as described in this Lease, all Base Rent and Additional Rent due for the Term paragraph). Said total rent shall be paid by Tenant to Landlord in equal monthly installments of $ (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay , at Landlord’s address set forth above, in advance and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable received in advance hand or postmarked on or before the first (1st) day of each calendar month during the Lease Term and without notice or demand, provided that delay or offset for any reason and without a grace period. If Tenant elects to pay monthly rent installments via Landlord’s “Pay Rent Online” section of the web site xxx.xxxxxxxxxxxxxxxxxxxxxxxxx.xxx (powered by XxxXxxxx.xxx), then Tenant shall receive a five dollar ($5) discount, thus lowering the monthly rent installment to $ . If Rent is not paid online on or before the 1st day of Base each month OR received in hand or postmarked on or before the 1st day of each month, the Tenant is in default of this said lease. Time is of the essence for each and every monthly Rent payment and for the fourth (subject all other monies due and owing under this Lease, including security deposit, damages, invoices or other costs or expenses chargeable by law by Landlord to Tenant’s . Tenant shall submit all rental payments in full, In the event there is more than one Tenant, then Tenants (if paying online as described above) agree to designate one person who shall submit rent in full or (if paying via US mail) agree to make all separate payments at the same time in the same envelope. Landlord reserves the right to receive Abated Base refuse individual or partial payments. Tenant acknowledges that Rent pursuant amount for Premises specified herein may vary from similar Premises within the building and that such variation is due to Section 1.03 either a discount granted to other Tenants for longevity of this Leaseleasing with Landlord or water usage by double occupancy of any bedroom (Example: 2 tenants occupying a 1-bedroom apartment, 3-4 tenants occupying a 2-bedroom apartment, or 4-6 tenants occupying a 3-bedroom apartment) full Tenants, shall jointly and severally, immediately pay to Landlord a late fee of Fifty Dollars ($50) for any monthly payment of Rent not received in hand by Landlord on or before the first (1st) day of each calendar month of the Termmonth, and an ongoing $5 per day late fee after the first monthly installment of Additional 5th day that Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing has not been received in hand by Landlord. Rent It is Tenant’s responsibility to ensure that Landlord receives said Rent. Tenants jointly and severally shall be made payable pay to Landlord a fee of Fifty Dollars ($50), or any amounts charged by Landlord’s bank if greater than $50, for each check of Tenants jointly or severally returned by a banking institution for insufficient funds or for any other reason. If Landlord receives a returned check issued jointly or severally by Tenants from a banking institution, Landlord may require that Tenants make all future payments to Landlord in the form money order or certified cashiers check only. Landlord will first deduct all fees, damages, costs and charges, including late fees, NSF fees, and other damages and costs set forth herein, from all amounts received from Tenant on a monthly basis before applying said amounts to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 1 contract
Samples: Lease Agreement
Rent. 4.01 (a) Tenant shall agrees to pay during the Lease Term, to Landlord, without any setoff or deductiondeduction whatsoever, unless expressly set forth the Base Rent and all such other sums of money as shall become due under this Lease (“Additional Rent”). Landlord shall be entitled to exercise all rights and remedies as are provided in this Lease or available at law for nonpayment of Additional Rent as are available in the case of the nonpayment of Base Rent. Except as otherwise provided in this Lease, all the Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and an annual payment payable during the Lease Term in advance in 12 equal installments on the first day of each calendar month during the Lease Term and any extensions or renewals thereof. Tenant agrees to pay such Base Rent and any adjustments thereto to Landlord at Land lord’s address provided in this Lease (or such other address as may be designated by Landlord in writing from time to time) monthly, in advance, without notice demand. All sums due Landlord shall be payable only in lawful money of the United States of America and shall be drawn against a financial institution with an office in the United States of America. If the Lease Term commences on a day other than the first day of a calendar month or demandterminates on a day other than the last day of a calendar month, provided that then the installment installments of Base Rent and any adjustments thereto for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar such month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, or months shall be payable prorated, based on the number of days in such month. Prepaid Rent shall be paid by Tenant to Landlord upon the execution of this Lease and shall be used to pay Rent as Rent comes due.
(b) All installments of Rent and any Additional Rent not paid when due and payable shall bear interest at the Interest Rate from the date due until paid and, if not paid within 10 days from the due date, shall be subject to a late charge in the amount equal to 5% of the amount due. In the event any check, bank draft or negotiable instrument given for any payment under this Lease shall be dishonored at any time for any reason whatsoever not attributable to Landlord, Landlord shall be entitled, in addition to any other remedy that may be available, to an administrative charge of $250.
(c) Base Rent shall be adjusted upward on each anniversary of the Rent Commencement Date (“Rent Adjustment Date”). The new payment of Base Rent shall be arrived a t by Tenantmultiplying the Base Rent payable for the period immediately prior to a rent Adjustment Date by one-hundred two percent (102%). All other items of The newly adjusted Base Rent shall be due and payable by to Landlord commencing with the month on which the Rent Adjustment Date occurs. In no event shall the new monthly payment of Base Rent be less than the monthly Base Rent for the preceding Lease Year. Should the adjusted Base Rent for any subsequent Lease Year not be available at the Rent Adjustment Date, Tenant on or {QuinStreetshall continue to pay Base Rent at the rate for the previous period but, Inc. -6-00004264.} May 30upon receipt from Landlord of the computation of the adjusted Base Rent, 2003 Matter ID Number: 7329 before Tenant shall thereafter pay monthly such adjusted Base Rent and, within 30 days after billing by Landlordfollowing receipt of the adjusted Base Rent, will pay the difference between the Base Rent previously paid following the Rent Adjustment Date and the most recent adjusted Base Rent. Rent shall be made payable In addition to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Base Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced adjusted from time to time, plus two percent (2%). LandlordTenant shall pay, as Additional Rent, Tenant’s acceptance Proportionate Share of less than Taxes and the correct amount of Rent shall be considered a payment on account Operating Expenses incurred by Landlord in connection with the operation and maintenance of the earliest Rent due. Rent for any partial month during Building and the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfactionProperty. Tenant’s covenant obligations with respect to the payment of such Additional Rent are set forth in Section 6.
(d) In addition to payment of Rent as provided herein, Tenant shall pay to Landlord monthly the equivalent of six percent (6%) of all amounts paid as Rent hereunder, which sum is independent to be paid to the State of every Florida by the Landlord in respect of sales or use taxes. Should such tax rate change under the Florida Sales Tax Statutes or other covenant applicable statues, Tenant will pay Landlord the amounts reflective of such changes.
(e) Tenant shall pay before delinquency, all taxes, assessments, license fees and public charges levied, assessed or imposed upon its business operation, as well as upon all Tenant’s fixtures, equipment and personalty, leasehold improvements, equipment, stock-in-trade and other personal property in, placed in or on the Premises. Any such taxes included in Landlord’s tax bills and paid by Landlord shall be due and payable within 10 days after xxxxxxxx therefor are rendered to Tenant.
(f) Tenant’s Monthly Credit, if any, shall offset the monthly Base Rent then due Landlord until the Rent Credit is expended in full. In no event shall the Monthly Credit offset or reduce Tenant’s obligation for payment of Additional Rent or other sums due Landlord as provided for in this LeaseLease Agreement.
(g) Upon Landlord’s request, Tenant agrees to permit and arrange for the payment of Base Rent and/or Additional Rent by automatic electronic funds transfer directly from Tenant’s bank account into Landlord’s designated account. Tenant agrees to execute any documents necessary to permit electronic transfers.
Appears in 1 contract
Rent. 4.01 Tenant During the Term, Lessee shall pay Landlordto Lessor in lawful money of the United States of America which shall be legal tender for the payment of public and private debts, without any setoff offset or deduction, unless expressly set forth in the amounts determined by this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to Section 3.1 as “monthly "Minimum Rent”). “Additional Rent” means all sums (exclusive ." Payments of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Minimum Rent shall be due and payable paid in advance on or before the first (1st) day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable either (i) via wire transfer to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, account as the same Lessor may be announced from time to timetime designate in writing or (ii) via Lessee's check therefor made payable to Lessor (or such other Person as Lessor may direct from time to time in writing) and delivered to Lessor's address for notices as provided in Article XXXIV (or such other address as Lessor may designate from time to time in writing).
(a) Commencing on the Commencement Date and continuing through the expiration of the first (1st) Lease Year of the Fixed Term, plus two percent (2%)Lessee shall pay to Lessor as monthly "Minimum Rent" for each Facility the amounts allocated to and set forth opposite such Facility on Exhibit B attached hereto and incorporated herein by this reference. Landlord’s acceptance The first installment of less than the correct amount of monthly Minimum Rent for each Facility shall be considered a payment paid on account or before the Commencement Date.
(b) The monthly "Minimum Rent" payable during the first (1/st/) Lease Year of each Extended Term, if any, for each Facility shall be the greater of (i) the then current monthly Fair Market Value Midpoint Rental for such Facility and (ii) the monthly Allocated Minimum Rent payable for such Facility for the last Lease Year of the earliest immediately preceding Term. Following the commencement of each Extended Term, the parties shall execute an amendment to this Lease confirming the monthly Allocated Minimum Rent due. Rent payable for any partial month each Facility during the first (1/st/) Lease Year of such Extended Term and replacing the schedule set forth on Exhibit B with a new schedule Exhibit B. Notwithstanding the foregoing, the failure of Lessor to prepare or the failure of Lessee to so execute and deliver any such amendment shall not affect Lessor's determination of the matters to be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leaseconfirmed thereby.
Appears in 1 contract
Rent. 4.01 A. Tenant shall pay to Landlord Base Rent in the manner provided in Section 5.C in equal consecutive monthly installments in advance on or before the 1st day of each calendar month commencing as of the Commencement Date and continuing through the Term. If the Term commences on a day other than the first day of a calendar month, or ends on a day other than the last day of a calendar month, Base Rent for such month shall be prorated by multiplying same by a fraction, the numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be pro-rated pursuant to this Section 5.A, on the Commencement Date in connection with Landlord, without any setoff or deduction, unless expressly ’s acquisition of the Premises pursuant to the Purchase Agreement.
B. Tenant agrees to pay all Real Estate Taxes and Utility Charges as set forth in below.
C. For purposes of this Lease, Base Rent, Real Estate Taxes, Utility Charges and any and all Base Rent other amounts, sums, charges, liabilities and Additional Rent due obligations which Tenant assumes or agrees to pay or may become liable for the Term (under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the event of any failure on the part of Tenant to pay any portion of the Rent (except where such failure is directly due to the acts or omissions of Landlord). “Additional Rent” means , every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all sums (exclusive of Base Rent) that amounts for which Tenant is required or may become liable to pay indemnify Landlord and the Landlord Indemnified Parties under this LeaseLease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. Except as expressly set forth to the contrary herein, all Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff in accordance with the wire or ACH information as Landlord designates to Tenant shall pay in writing from time to time.
D. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which is presently anticipated to be liable for all rental, sales and use taxes (but excluding income taxes)extremely difficult to ascertain. Accordingly, if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the any installment of Base Rent for the fourth due to Landlord is not paid within thirty (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease30) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. receipt of notice from Landlord demanding any Rent shall that may be made payable to the entitydelinquent hereunder, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee upon written demand a late charge equal to five percent (5% %) of all past due the delinquent installment of Rent, provided . The parties agree that Tenant shall be entitled to this late charge represents a grace period fair and reasonable estimate of 5 days for the first 2 costs and expenses (including economic losses) that Landlord will incur by reason of late payments of payment by Tenant. The parties further agree that such late charge is Rent in and not interest and such assessment does not constitute a calendar yearlender or borrower/creditor relationship between Landlord and Tenant. In addition, past any amount of delinquent Rent due Rent to Landlord shall accrue interest at a rate per annum equal the Default Rate from the date when such Rent was due until such date that such delinquent Rent is paid, in the event that Tenant fails to pay any such Rent within five (5) days after the Bank date when such Rent was due. The payment of America “prime rate”such late charge or such interest shall not constitute waiver of, as nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Notwithstanding the same may be announced from time to timeforegoing, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent Tenant shall be considered a responsible for payment on account of all interest, late charges, and other costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent responsibility of every other covenant in this LeaseTenant hereunder.
Appears in 1 contract
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent Monthly rent is due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demandmonth. The Occupant agrees to pay the Owner, provided that the installment of Base Rent as payment for the fourth (subject to Tenant’s right to receive Abated Base use of the Space and improvements thereon, the Monthly Rent pursuant to Section 1.03 listed on the application. Monthly installments are payable in advance on or before the first day of the month in the amount of the Monthly Rent listed on the Application and a like amount each month hereafter, until the termination of this LeaseAgreement. If any monthly installment is not paid before the Fifth (5th) full calendar month day of the Termmonth, a LATE FEE of $20 will be charged to the Occupant’s account. If any monthly installment is not paid before the sixth(6th) day of the month, a SECOND LATE FEE of $30 will be charged to the Occupant’s account. If any check/debit card/credit card/ACH in payment is dishonored by the financial institution on which it is drawn, Occupant shall be deemed to be in default and a RETURNED CHECK FEE of $35 will be charged to the Occupant’s account. The Occupant's failure to perform any of its obligations under the terms and conditions of this Agreement or the Occupant's breach of the peace shall also constitute a default hereunder. The Occupant agrees and understands that partial payments made to cure a default for nonpayment of rent will not delay or stop foreclosure and sale of Occupant's personal property (hereinafter called "Property"). The tender of partial payments shall not serve to waive or avoid the legal effect of prior notices given to Occupant. Only full payment on the Occupant's account prior to the published auction date will stop a scheduled sale of the Property. Owner accepts checks, money orders, credit cards, debit cards, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by TenantACH payments. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall Payments may be made payable to the entity, and sent to the address, Landlord designates and shall online at our website: xxxxxxxxxxxxxxxxxxx.xxx. DO NOT PUT CASH IN ANY MAIL SLOT OR MAIL BOX. A payment made on an account advertised for public sale must be made by good in cash or cashier’s check only and sufficient check or by other means acceptable customer must make arrangements to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant meet owner to pay Rent is independent of every other covenant in this Leaseperson. 2.
Appears in 1 contract
Samples: Lease Agreement
Rent. 4.01 Tenant shall pay to the order of Landlord, without any setoff demand, set-off or deductiondeduction during the Term except as provided herein, unless expressly the Annual Base Rent, specified in Section 1.5 and the Additional Rent, at the times and in the manner set forth in this Lease, all . The Annual Base Rent and Additional Rent due for applicable to each Phase of the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent Premises shall be due and payable in advance 12 monthly installments, in advance, commencing on the Rent Commencement Date applicable to such Phase of the Premises and continuing on the first day of each and every subsequent calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of during the Term, and in the amount as scheduled in Section 1.5; provided, however, if the Rent Commencement Date is not the first monthly installment day of Additional Rent for Expenses and Taxes, shall be payable upon a month a prorated amount of the execution of this Lease by Tenant. All other items of Annual Base Rent shall be due on the first day of the month in which the Rent Commencement Date occurs. In the event the Term of this Lease commences or ends on a day other than the first or last day of a calendar month, then the Monthly Base Rent for such partial month shall be prorated in the proportion that the number of days this Lease is in effect during such partial month bears to the number of days in that calendar month, and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. such Monthly Base Rent shall be made payable to paid at the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlordcommencement of such partial month. Tenant shall pay the Annual Base Rent and all Additional Rent by good check or in lawful currency of the United States of America. If Tenant’s check is not good, then Landlord an administration fee equal may require all further payments to 5% be made by cashier’s check or official check, or wire transfer, at Landlord’s sole option. All forms of all past Rent due Rent, provided that Tenant under this Lease shall be entitled paid to a grace period of 5 days for the first 2 late payments of Rent Landlord at Xxx Xxxxxxxx Xxxxxxx, Xxx Xxxxx, XX 00000 or such other location as Landlord may designate in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced writing from time to time, plus two percent (2%). time or by bank wire of federal funds into Landlord’s acceptance account at: Bank of less than America, N.A.; ABA Routing No. 0000-0000-0 for credit to Account No. 7313801638 for the correct amount benefit of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this LeaseFranklin Xxxxxxxxx Companies.
Appears in 1 contract
Samples: Office Lease Agreement (Roblox Corp)
Rent. 4.01 (a) The Tenant shall pay Landlordall rent and other charges to be paid by the Tenant hereunder to the Authority at the office of the Authority in Richmond, without any setoff Virginia, or deductionto such other individual, unless expressly set forth in this Lease, all Base Rent firm or corporation and Additional Rent due for at such other place as may be designated by the Term Authority.
(collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rentb) that Tenant is required to pay Landlord under this Lease. The Tenant shall pay and a monthly rent (the "Monthly Rent") during the term hereof based upon an initial rental rate of $19.57 per square foot per year, creating a total annual rent of $24,247.23. No reduction or increase in rent shall be liable available for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rentnon-material discrepancies in actual square footage. Base Rent and recurring monthly charges of Additional During the first Lease Year the Monthly Rent shall be $2,020.60 per month. Thereafter, the Monthly rent shall be increased annually as of the date the first payment of each Lease Year is due and beginning with the second Lease Year by an amount equal to 3% of the Monthly Rent payable during the preceding Lease year.
(c) The Monthly Rent is to be payable in advance on the first fifth day of each calendar month during the term hereof without notice or demanddemand and without setoff and it is to be received at the Authority's offices within five (5) days after the first day of each rental month. If the Commencement Date is not the fifth day of a calendar month, provided that the installment Tenant shall pay on the fifth day of Base the first calendar month following the Commencement Date a proportionate amount of the monthly Rent for the fourth period of time from the Commencement Date to the date on which such first monthly payment is due.
(subject d) All amounts and charges in addition to Tenant’s right the Monthly Rent required to receive Abated Base Rent pursuant be paid by the Tenant in accordance with the terms hereof shall be deemed to Section 1.03 of be additional rent (the "Additional Rent"). Such amounts or charges, if not paid at the time provided in this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon collectible as Additional Rent with the execution next installment of this Lease by Tenant. All other items of Rent shall be the rent due and payable by Tenant on or {QuinStreethereunder; provided, Inc. -6-00004264.} May 30however, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent that nothing herein contained shall be made payable deemed to suspend or delay the entity, and sent time for any payment to the address, Landlord designates and shall be made by good and sufficient check the Tenant hereunder or by to limit any other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account remedy of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this LeaseAuthority.
Appears in 1 contract
Samples: Lease Agreement (Insmed Inc)
Rent. 4.01 Tenant The rents shall pay Landlordbe and consist of Base Rent (herein called "BASE RENT") and Additional Rent (herein called "ADDITIONAL RENT"). For purposes of this Lease Agreement, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively are referred to collectively as “Rent”). “Additional Rent” means all sums (exclusive of "RENT." Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant Rent shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rentthe amount indicated in the Basic Lease Information. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in equal monthly installments in advance on the first day of each and every calendar month without notice or demandduring the term of this Lease (except to the extent otherwise specifically provided elsewhere in this Lease. Payment of Base Rent and Additional Rent for the 5th Floor of the Premises shall commence on the 5th Floor Commencement Date and shall be equal to the 5th Floor rentable square feet multiplied by the (i) Base Rent per rentable square foot set forth in the Basic Lease Information, provided that plus (ii) Additional Rent per rentable square foot as set forth in Section 4.1. Payment of Base Rent and Additional Rent for the installment 6th Floor of the Premises shall commence on the 6th Floor Commencement Date and shall be equal to the 6th Floor rentable square feet multiplied by the (i) Base Rent per rentable square foot set forth in the Basic Lease Information, plus (ii) Additional Rent per rentable square foot as set forth in Section 4.1 per rentable square foot set forth in the Basic Lease Information. Payment of Base Rent for the fourth (subject 15th Floor of the Premises shall commence on the 15th Floor Commencement Date and shall be equal to Tenant’s right to receive Abated the 15th Floor rentable square feet multiplied by the Base Rent pursuant to Section 1.03 of this Lease) full calendar month of per rentable square foot set forth in the Term, and the first monthly installment Basic Lease Information. Payment of Additional Rent for Expenses the 15th Floor of the Premises shall commence on the date Tenant occupies the 5th Floor for the operation of business and Taxes, shall be payable upon equal to Additional Rent as set forth in Section 4.1 per rentable square foot set forth in the execution of this Basic Lease by TenantInformation. All other items of Additional Rent shall be consist of all other sums of money as shall become due from and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlordto Landlord hereunder. All Rent shall be made payable paid in lawful money of the United States of America to the entityLandlord at its office or such other place, and sent as Landlord shall designate by notice to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to LandlordTenant. Tenant shall pay Landlord an administration fee equal to 5% of all past the Base Rent and Additional Rent promptly when due Rentwithout notice or demand therefor and without any abatement, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent deduction or setoff for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant reason whatsoever, except as expressly provided in this Lease. If the Commencement Date for any floor occurs on a day other than the first day of a calendar month, or the Expiration Date occurs on a day other than the last day of a calendar month, the Base Rent for such floor for that partial calendar month shall be prorated on a daily basis.
Appears in 1 contract
Samples: Lease Agreement (Webtrends Corp)
Rent. 4.01 4.1 The Tenant shall pay Landlord, without any setoff or deduction, unless expressly to the Landlord at die address set forth in this LeaseParagraph 50.1, all Base Rent in lawful money of Canada and Additional Rent due for without any deduction, set off or abatement, throughout the Term an annual minimum rent (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxesthe "RENT"), if anyin advance, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month throughout the Term as follows: $103,575.00 per annum, payable in equal consecutive monthly instalments of $8,631.25 in advance, on the first day of each month during each year of the 5 years of the Term. The aforesaid Rent is calculated on the basis of a net rent of: $12.50 per square fool of Gross Leasable Area of the Leased Premises per annum for each of the 5 years of the Term. Rent and Additional Rent may be adjusted from time to time by the Landlord, if necessary, to conform with changes in the Gross Leasable Area of the Leased Premises. Subject to Section 2.2, a certificate of the Landlord's Architect to that effect shall be conclusive, SAVE FOR MANIFEST ERROR, SHALL BE ADDRESSED TO BOTH LANDLORD AND TENANT.
4.2 The Tenant covenants with the Landlord to pay Rent and Additional Rent and such oilier amounts for which the Landlord may be entitled to demand payment from the Tenant pursuant to the provisions of this Lease without notice any deduction, setoff or demand, provided that abatement. Rent and Additional Rent arc reserved by the installment of Base Rent Landlord and payable by the Tenant in consideration for the fourth (subject demise and lease of the Leased Premises hereunder. The Landlord shall, in addition to Tenant’s any other right or remedy available to receive Abated Base the Landlord, have the same rights and remedies in the event of default by the Tenant in the payment of Additional Rent as the Landlord would have in the event of default by the Tenant in the payment of Rent. All Additional Rent payable by the Tenant to the Landlord pursuant to Section 1.03 this Lease shall, unless otherwise provided herein, become due and payable with the next monthly instalment of Rent. Where the calculation of any Additional Rent is not made until after the expiration or earlier termination of this Lease) full calendar month , the obligation of the Term, and the first monthly installment of Tenant to pay such Additional Rent for Expenses shall survive such expiration or earlier termination and Taxes, such amount shall be payable by the Tenant after final determination and upon demand by the execution Landlord.
4.3 Landlord acknowledges that the TENANT has provided to Royal LePage Commercial Inc. (the "LEASING AGENT"), in trust for the Landlord a deposit equal to the sum of thirty-eight thousand two hundred and seventy one dollars and sixty-five cents ($38,271.65) (the "DEPOSIT") to be applied to the first and last months' Rent and Additional Rent payable by the Tenant hereunder. Provided that if, at any time during the term, Rent is overdue and unpaid, or if the Tenant fails to keep or perform any of the terms, covenants and conditions of this Lease to be kept, observed and performed by the Tenant, then, the Landlord, at its option, may, in addition to any and all other rights and remedies provided for in this Lease or by law, appropriate and apply the balance of the Deposit (the "BALANCE") or so much thereof as if necessary to compensate the Landlord for loss or damage sustained or suffered by the Landlord due to such breach on the part of the Tenant. All other items If the Balance or any portion thereof is appropriated and applied by the Landlord for the payment of overdue Rent shall be due and payable or Additional Rent, then the Tenant shall, forthwith after demand by Tenant on or {QuinStreetthe Landlord, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable remit to the entity, and sent Landlord a sufficient amount in cash to restore the Balance to the address, Landlord designates original sum deposited and shall be made by good and sufficient check or by other means acceptable the Tenant's failure to Landlord. Tenant shall pay Landlord an administration fee equal to 5% do so forthwith after receipt of all past due Rent, provided that Tenant shall be entitled to such demand constitutes a grace period breach of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
4.4 The Landlord shall deliver the Balance to any purchaser of the Landlord's interest in the Leased Premises and the Development if such interest is sold and thereafter the Landlord shall be discharged from any further liability with respect to the Deposit so long as the purchaser has assumed the Landlord's obligations hereunder.
Appears in 1 contract
Rent. 4.01 Tenant Subtenant shall pay Landlordto Sublandlord the Monthly Base Rent (pro rated in the case of any partial calendar month at the beginning or end of the Term, based upon the actual number of days in the month), without any setoff or deduction, unless expressly set forth in this Leaseoffset, all notice, or demand, at Sublandlord's Address, or at such other place as Sublandlord shall designate from time to time by notice to Subtenant. Monthly Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable paid for each calendar month occurring during the term in advance on two (2) business days prior to the first day of each the calendar month without notice or demandto which such Monthly Base Rent is attributable, provided that the installment of Monthly Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) second full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, Sublease Term shall be payable upon the execution of this Lease Sublease by TenantSubtenant. All other items of Notwithstanding the foregoing, the Monthly Base Rent for April, 2002, February, 2003, March, 2003 and March, 2004 shall be due abated. In addition, should more than 20 days elapse between Subtenant's application for a building permit for Subtenant's initial alterations and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to improvements and the entitydate of issuance of the permit, and sent to should such delay result in the addressSubleased Premises not being ready for occupancy by April 1, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% 2002 because of all past due Rentsuch delay in issuing the building permit, provided that Tenant then Subtenant shall be entitled to one day without Monthly Base Rent starting on April 1, 2002 for every two days of such delay up to a grace period maximum of 5 seven days for the first 2 late payments of Rent free rent. All charges, costs, expenses and sums required to be paid or borne by Subtenant under this Sublease in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal addition to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Base Rent shall be considered a payment on account of the earliest deemed "Additional Rent," and Base Rent due. and Additional Rent for any partial month during the Term shall hereinafter collectively be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s referred to as "Rent." Subtenant's covenant to pay Rent is shall be independent of every other covenant in this Sublease. The Monthly Base Rent for the fourth year of the term commencing on April 1, 2005 shall be adjusted to the then Fair Market Base Rental as defined in Section 38(a) of the Master Lease; provided, however, if Fair Market Base Rental is $2.25 per RSF or less, the Monthly Base Rent shall remain at $2.25 per RSF for the fourth year of the Term (i.e., the twelve month period commencing on April 1, 2005). Approximately 30 days prior to the commencement of such lease year, Landlord and Tenant shall endeavor to agree upon the Fair Market Base Rental. If they are unable to do so within such 30 days period, the Fair Market Base Rental shall be determined by three commercial real estate brokers - one selected by Sublandlord, one by Subtenant and one by the two brokers so selected. The Fair Market Base Rental shall be the average of the two closest amounts determined by the brokers. The brokers shall make their determination within 30 days of the selection of the third broker and any rent adjustment shall be retroactive to April 1, 2005. Each party shall pay the fee of the broker which it selected and one half of the fee of the third. On April 1, 2006 and April 1, 2007, the Monthly Base Rent for the succeeding year shall be increased (but not decreased) in accordance with the change in the cost of living according to the provision of Section 35 of the Master Lease with appropriate adjustment to the terms of that section to correspond to the dates and time periods set forth in this paragraph. At no time shall the Monthly Base Rent exceed that charged to Sublandlord under the Master Lease.
Appears in 1 contract
Rent. 4.01 (a) Tenant shall pay Landlordto Landlord Adjusted Rental, without any setoff or deductionwhich is the sum of the monthly Basic Rental, unless expressly set forth the monthly Excess Operating Expenses and the monthly Excess Taxes (as defined in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxesBasic Lease Information), if anyas estimated by Landlord from time to time, imposed upon or measured by Rent. Base Rent and recurring in monthly charges of Additional Rent shall be due and payable installments in advance on the first day of each calendar month in lawful money of the United States to Landlord at its address set forth above (or such other address as Landlord shall designate in writing to Tenant) without notice or demanddemand and without any abatement, provided that the installment of Base Rent deduction or set-off, for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar each month of the entire Term, and the first . One such monthly installment of Additional Rent for Expenses and Taxesinstallment, shall be payable by Tenant to Landlord upon the execution of this Lease by TenantLease. All other items of Rent A like monthly installment shall be due and payable by Tenant without demand beginning on the first day of the calendar month immediately following the month in which the Commencement Date occurs and continuing thereafter on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlordthe first day of each succeeding calendar month during the Lease Term. Rent for any fractional month at the beginning of the Lease Term shall be made payable to prorated based on one-three hundred sixty-fifth (1/365) of the entitycurrent annual Adjusted Rental for each day of the partial month this Lease is in effect, and sent to the address, Landlord designates and shall be due and payable on or before the first day of the calendar month immediately following the month in which the Commencement Date occurs.
(b) If all of any sum due under this Lease is not received by its due date, then Tenant, to the extent permitted by law, shall pay, in addition to the sum owed, a late payment charge equal to five percent (5%) of the sum (or portion thereof) which is overdue. If a check remitted t0 pay any sum due to Landlord hereunder shall not be honored upon presentment for payment, then Tenant in addition to the amount owed, shall pay to Landlord on demand a fee of five percent (5%) of the amount owed. Following the dishonor of any check presented for payment, Landlord may require all further payments to be made hereunder to be made by good and sufficient certified check or by money order. Also, if Landlord does not receive any Adjusted Rental within thirty (30) days after the due date thereof, or fails to pay any sum (other means acceptable than Adjusted Rental) which at any time becomes due to Landlord. Landlord under any provision of this Lease as and when the same becomes due hereunder, then, in either such event, Tenant shall pay Landlord interest on such overdue amounts from the due date thereof until paid at an administration annual rate (the "Past Due Rate') which equals the lesser of (i) eighteen percent (18%) of (ii) the highest rate then permitted by law. All late payment charges and fees for dishonored checks are to reimburse Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of late or dishonored payments. Provision for such late charge, interest or fee equal to 5% of all past due Rent, provided that Tenant for dishonor shall be entitled in addition to a grace period of 5 days for the first 2 late payments of Rent all other rights and remedies available to Landlord hereunder or at law or in a calendar year. In addition, past due Rent equity and shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, not be construed as the same may be announced from time to time, plus two percent liquidated damages or limiting Landlord's remedies in any manner.
(2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord c) Tenant's covenants and satisfaction. Tenant’s covenant obligations to pay Rent is Adjusted Rental and all additional rental (collectively, the "Rent") hereunder are unconditional and independent of every any other covenant in or condition imposed on either Landlord or Tenant, whether under this Lease, at law or in equity.
Appears in 1 contract
Samples: Lease Agreement (Netgateway Inc)
Rent. 4.01 Tenant shall pay Landlordrent consisting of (i) Base Rent, without any setoff or deduction, unless expressly set forth in and (ii) all other sums that become payable by Tenant under this Lease, all whether to Landlord directly, or to a third party for the benefit of Landlord and the Premises (“Additional Rent”). Base Rent and Additional Rent due for the Term (collectively are referred to herein as “Rent”). “Additional Rent.” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional All Rent shall be due and payable paid in advance on the first day of each calendar month unless otherwise provided herein. Notwithstanding any other provision hereof, Tenant shall pay to Landlord, with all Rent, any rent, transaction, privilege or other tax now or hereafter imposed on any Rent due or paid under this Lease. All Rent shall be paid in lawful money of the United States to Landlord, c/o the Property Manager at the address set forth in the Basic Lease Terms preceding this Lease, or at such other place as Landlord shall designate by written notice to Tenant. Tenant shall pay all Rent promptly when due without notice or demanddemand therefor and without any abatement, deduction or off set, for any reason whatsoever, except as may be expressly provided that in this Lease. If the installment Tenant’s obligation to pay Base Rent does not commence on the first day of a calendar month, or does not expire on the last day of the calendar month, the Base Rent payable by Tenant on the first fractional month, or the last fractional month, as the case may be, shall be prorated for said month. Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) first full calendar month of the Term, and the first monthly installment of Additional Term for which Base Rent for Expenses and Taxes, is payable shall be payable paid upon the execution of this Lease by Lease, and Base Rent for any partial month at the beginning of the Term shall be due on the Commencement Date. Tenant acknowledges that Tenant. All other items ’s late payment of Rent due Landlord will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such cost being extremely difficult and impractical to ascertain. Therefore, if Landlord does not receive any Rent due from Tenant within ten (10) days of when due, Tenant shall pay to Landlord an additional sum equal to five percent (5%) of the overdue amount, which late charge shall be due and payable on demand. The payment of late charges and the payment of interest are distinct and separate from one another in that the payment of interest is to compensate Landlord for the use of Landlord’s money by Tenant on or {QuinStreetTenant, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing while the payment of late charges is to compensate Landlord for the additional administrative expenses incurred by LandlordLandlord in handling and processing delinquent payments. Rent shall be made payable to the entity, and sent to the addressBy their execution of this Lease, Landlord designates and Tenant confirm that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment, that the late charge is in addition to any and all remedies available to Landlord and that the assessment and/or collection of the late charge shall not be made deemed a waiver by good and sufficient check Landlord of such failure or by of any other means acceptable to Landlorddefault under this Lease. Tenant shall pay Landlord an administration fee equal to 5% of Additionally, all past due such delinquent Rent, provided that Tenant plus any late charge, shall be entitled to a grace period bear interest at the rate of 5 days for six percent (6%) per annum, or, if lower, the first 2 late payments maximum interest rate permitted by law (as applicable, the “Default Rate”), from the date due until paid. If any payment of Rent in a calendar year. In additionis returned for insufficient funds, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same Landlord may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant require Tenant to pay Rent is independent of every other covenant in this Leaseall future payments by cashier’s check.
Appears in 1 contract
Rent. 4.01 Tenant shall Lessee agrees to pay LandlordLessor, without any setoff by check or deductionwire transfer, unless expressly as ---- rent for the Equipment during the Lease Term (as defined in Section 3 hereof) the monthly rent (the "Monthly Rent") set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”)on Exhibit B attached hereto. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of The Monthly Rent shall be due and payable by Tenant the Lessee in arrears on or {QuinStreetthe first day of each month (each a "Rent Payment Date") commencing on December 1, Inc. -6-00004264.} May 301997 and on the first day of each month thereafter until October 28, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord2002 when the remaining and final Monthly Rent payment in the amount indicated on Exhibit B shall be due and payable. The Monthly Rent shall be made payable to at the entityLessor's office at the address indicated at the head of this Agreement unless otherwise directed by Lessor as provided in Section 23 hereof. If a Rent Payment Date falls on a day other than a Business Day (as hereinafter defined), and sent to then the address, Landlord designates and Rent Payment Date shall be made by good and sufficient check deemed to be the immediately following Business Day. As used herein, the term "Business Day" shall mean any day other than Saturday or by other means acceptable Sunday or a day on which banks in either the State of Connecticut or the State of Georgia are required or permitted to Landlordclose. Tenant Lessee shall pay Landlord an administration fee equal to 5% the Lessor interest upon the amount of any Monthly Rent or other sums not paid by Lessee within fifteen (15) days of the Rent Payment Date, calculated from the date when due and owing hereunder until such payment is received by the Lessor computed at the annual rate of the lesser of (i) the Wall Street Journal Prime Rate plus ten percent, or (ii) the maximum allowable rate under applicable law (the "Overdue Interest Rate"). Lessee may prepay all past due Rentor any portion of the Monthly Rents at any time, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar yearwithout penalty. In additionthe event of a partial prepayment, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Monthly Rent shall be considered a payment on account adjusted for the remaining months of the earliest Rent dueLease Term as provided in Exhibit B hereof. Rent As security for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant Lessee's financial obligations under this Agreement, including the obligation to pay Rent is independent Monthly Rent, on the Lease Commencement Date (as defined in Section 3 hereof), the Lessee shall enter into the Security Agreement, substantially in the form of every other covenant Exhibit E hereto (appropriately completed), in this Leasefavor of the Lessor (the "Security Agreement").
Appears in 1 contract
Samples: Equipment Lease Agreement (Charter Communications International Inc /Tx/)
Rent. 4.01 Tenant shall covenants and agrees to pay to Landlord, promptly when due, without any setoff notice or demand or deduction, unless expressly abatement or set forth in this Leaseoff of any amount for any reason whatsoever, as rent hereunder ("Rent"), all Base Basic Rent and Additional all Percentage Rent due (as defined below). All Rent to be paid by Tenant to Landlord shall be in lawful currency of the United States of America and shall be paid to Landlord at the address or into the account as may be designated from time to time by Landlord ("Landlord's Address").
A. Basic rent for the Term Premises (collectively referred to as “"Basic Rent”). “Additional Rent” means all sums (exclusive ") shall be paid in monthly installments, each of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent which shall be due and payable in advance on the first business day of each the calendar month without notice or demand, provided that in the installment of Base amount specified in Exhibit A hereto. Basic Rent for the fourth (subject partial month following the Effective Date shall be paid on or before the first business day of January 2016.
B. In addition to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Basic Rent, Tenant shall also pay during the Term, and without notice, demand, abatement, reduction or set off, additional percentage rent ("Percentage Rent") in accordance with the first monthly installment of Additional formulae for Percentage Rent set forth in Exhibit B hereto. Percentage Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a each calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be proratedpayable in monthly installments on the 20th day of the following calendar month. No endorsement Within 20 days after the end of each calendar month in the Term, Tenant shall deliver to Landlord a statement executed by Tenant accurately setting forth the amount of Gross Receipts for such month and Tenant's calculation of the Percentage Rent payable for such month, itemized in reasonable detail. Within 90 days after the end of each calendar year of the Term, Tenant shall furnish to Landlord a statement accurately showing Gross Receipts and Percentage Rents for such year itemized in reasonable detail, and shall contemporaneously therewith pay any Percentage Rent due and unpaid for such year, provided, however, that if Tenant has overpaid Percentage Rents during such year, Landlord shall, at its option, either refund such excess to Tenant or statement on a check or letter accompanying payment credit the amount thereof to the next succeeding monthly, installments of Percentage Rent payable by Tenant. With respect to the last Lease Year of the Term, such annual reconciliation and adjustment, if any, shall be considered an accord and satisfactionmade within 30 days. Tenant’s covenant The provisions of this Section 3.B shall survive the end of the Term.
C. The term "Gross Receipts" with respect to pay Rent is independent of every other covenant in this Lease.any period shall:
Appears in 1 contract
Rent. 4.01 Tenant Concessionaire shall pay Landlordpay, without any setoff or offset, deduction, unless expressly set forth in this Leaseprior notice, all Base Rent and Additional Rent due for the Term (collectively referred to or demand, as “Rent”). “Additional "Minimum Annual Rent” means all sums the sum of thirty thousand dollars (exclusive $30,000) or fifteen percent (15%) of Base RentAnnual gross receipts, whichever sum is greater. Beginning with Contract Year Six (6) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demandevery fifth contract year thereafter, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Minimum Annual Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlordadjusted to reflect changes in the Consumer Price Index (CPI). Rent Such CPI adjustments shall be made payable in accordance with the procedure set forth in Exhibit B, attached to and made a part of this contract. Concessionaire shall make payment of Minimum Annual Rent and other payments to State in lawful money of the entityUnited States. However, if any payment made by a check, draft, or money order is returned to State due to insufficient funds or otherwise, State shall have the right, at any time after the return, upon written notice to Concessionaire, to require Concessionaire to make all subsequent payments in cash or by cashier's or certified check. Beginning with the fifteenth (15th) day of the month following the opening of the concession for business, and sent on or before the fifteenth (15th) day of each month thereafter, Concessionaire shall furnish to State a verified statement of the addressconcession’s gross receipts for the preceding month. Such statement shall be in a format provided by State and shall specify the current period and cumulative total of gross receipts for the concession through the end of the preceding month for the then current contract year. Concurrent with such monthly statement, Landlord designates and the Concessionaire shall pay to State the appropriate rental fee for the preceding calendar month as prescribed above. Payments to State shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank order of America “prime rate”, the Department of Parks and Recreation and delivered to the District Office identified herein below or at such other location as the same may be announced from time to timetime be designated by State. If, plus two percent at the end of the contract year, the total of monthly percentage rental payments made (2%). Landlord’s acceptance of or due) during that contract year is less than the correct Minimum Annual Rent required for that contract year, the difference shall be remitted to State with the last monthly sales statement for the contract year. Payments must be received by State on or before the fifteenth (15th) day of the month as described above. Any late payment shall constitute a breach of contract, giving rise to State's remedies as set forth below. Further, any late payment will be subject to a late penalty consisting of an administrative charge on the late amount, calculated at the rate of five percent (5%) of the amount of the late payment or portion thereof. The parties agree that the late charge represents a fair and reasonable estimate of the costs State will incur because of late payment. Acceptance of the late charge by State shall not constitute a waiver of Concessionaire's default for the overdue amount, nor prevent State from exercising the other rights and remedies granted under this contract. Concessionaire shall pay the late charge as additional rent with the next monthly rent payment. Any amount due to State, if not paid within five (5) days following the due date, will bear interest from the due date until paid at the rate of ten percent (10%) per year or, if a higher rate is legally permissible, at the highest rate legally permitted. However, interest shall not be payable on late charges incurred by Concessionaire, nor on any amounts on which late charges are paid by Concessionaire, to the extent this interest would cause the total interest to be in excess of that legally permitted. Payment of interest shall not excuse or cure any default by Concessionaire. Upon written request by the Concessionaire to State demonstrating unusual or extenuating circumstances causing the late payment, the State, in its sole discretion, may waive the late charge. Further, in the event Concessionaire is prevented from carrying on the operations contemplated herein by reason of an Act of Nature or other reasons beyond Concessionaire's control, and when requested in writing in advance by Concessionaire, Minimum Rent may be abated in proportion to the amount by which gross receipts are reduced by the occurrence for such period of reduced or non- operation, as determined in the sole discretion of State. If this contract is terminated by State because of Concessionaire's default, and if Concessionaire becomes liable for any deficiency in rent and/or fees by way of damages or otherwise, or if at any time during the contract term Concessionaire ceases to conduct in the Premises the business referred to herein below, then from and after the time of the breach causing this termination, or from and after the time of the cessation of business, all unpaid rent and/or fees prior to the breach causing termination or cessation of business shall become due and payable. The amount due shall be considered a payment on account deemed to be the greater of: (a) the Minimum Rent provided herein, or an amount based upon the average of the earliest Rent due. Rent for any partial month payments that have accrued to State as percentage rent during the Term twenty-four (24) months preceding the termination or cessation of business, unless the termination or cessation occurs within three (3) years of the beginning of the contract term, in which event the previous twelve (12) or fewer, if applicable), months shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent used as the basis of every other covenant in this Leaseaverage.
Appears in 1 contract
Samples: Concession Contract
Rent. 4.01 Commencing on the Commencement Date, Tenant shall pay Landlord, to Landlord the Base Rent without any demand and without setoff or deductiondeductions of any kind, unless expressly set forth in this Lease, all equal monthly installments of Base Rent and Additional Rent due for the Term (collectively referred electric as follows: All monthly installments are to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rentalpaid in advance, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar calendar' month of the Term, and Term at the first monthly installment address of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All Landlord stated above or such other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, place as Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent may designate in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced writing from time to time, plus two percent (2%)with payment in advance of appropriate fractions of a monthly payment for any portion of a month at the expiration or prior termination of the Term. Landlord’s acceptance of less than the correct Every amount of payable by Tenant hereunder in addition to Base Rent shall be considered deemed Additional Rent. Base Rent and Additional Rent are herein collectively referred to as the "Rent". Any Rent not paid by Tenant on or before the fifth day following the due date thereof shall thereafter be payable with a payment on account late charge equal to 10 % of the earliest Rent dueunpaid installment, payable as Additional Rent. Rent for any partial month during On or before the Term shall Commencement Date, Tenant will deliver to Landlord a five (5) year Warrant Agreement (Exhibit G) with rights to purchase 200,000 shares of Tenant's common stock at an exercise price per-share of Three Dollars and no cents ($3.00). The number of shares of Warrant Stock to be proratedissued and the Warrant Price are subject to adjustments in certain events as set forth on the Warrant Agreement. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant Notwithstanding anything to pay Rent is independent of every other covenant the contrary contained in this Lease, all payments of non-recurring Additional Rent shall be paid by Tenant within thirty (30) days after receipt of invoice.
Appears in 1 contract
Rent. 4.01 (a) Tenant shall agrees to pay Landlord, without any setoff or deduction, unless expressly monthly rent ("Monthly Rent") during the Lease Term in the amounts set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”)Summary of Terms. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Monthly Rent shall be due and payable without deduction, offset, abatement, prior notice or demand, except as may otherwise provided herein.
(b) The Monthly Rent shall be payable in advance on the first day of each calendar month without at Landlord's address as provided herein or at such other address that Landlord may from time to time designate by written notice or demand, provided to Tenant. In the event that the installment Term commences on a date other than the first day of Base Rent for a calendar month, then on the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 date of this Lease) full calendar month commencement of the Term, Tenant shall pay to Landlord as Monthly Rent for the period from such date of commencement to the first day of the next succeeding calendar month that proportion of the first month's Monthly Rent due hereunder which the number of days between such date of commencement and the first day of the next succeeding calendar month bears to thirty (30). In the event that the Term for any reason ends on a date other than the last day of a calendar month, then on the first day of the last partial calendar month of such term, Tenant shall pay to Landlord as Monthly Rent for the period from said first day of said last partial calendar month to and including the last day of the Term that proportion of that Monthly Rent then due hereunder which the number of days between said first day of said last partial calendar month and the last day of the term hereof bears to thirty (30).
(c) Upon execution of this Lease, Tenant shall pay Forty-Two Thousand Ninety Four Dollars ($42,094), which amount shall be applied toward the first payment of Monthly Rent due hereunder.
(d) In the event of a Chronic Delinquency (as hereinafter defined), at Landlord's option, Landlord shall have the right, in addition to all other remedies under this Lease and at law, to require that Monthly Rent be paid by Tenant quarterly, in advance. This provision shall not limit in any way nor be construed as a waiver of any rights and remedies of Landlord provided herein or by law in the event of delinquency. Chronic Delinquency shall mean failure by Tenant to pay Monthly Rent, or any other payments required to be paid by Tenant under this Lease, when due in any of three (3) months (consecutive or non-consecutive) during any twelve (12) month period.
(e) In addition to Monthly Rent, Tenant shall pay to Landlord as additional rent, which shall be solely calculated and determined by Landlord, the following:
(i) Tenant's Share (as hereinafter defined) of the Taxes relating to the Property as set forth in Section 8 hereof;
(ii) Tenant's Share of the insurance premiums relating to the Property, as set forth in Section 15 hereof;
(iii) Tenant's Share of all maintenance, repair and replacement expenses relating to the Property as set forth in Section 10 hereof and any deductibles or uninsured restoration costs incurred under Section 19 hereof (provided if any such cost is based in part on properly unrelated to the Premises (including adjacent real properly owned by Landlord) then only that part of such cost that is fairly allocable to the Premises shall be included in Operating Expenses);
(iv) Tenant's Share of any other operating expenses incurred by Landlord in the operation of the Property including Landlord's management fee;
(v) All charges, costs, expenses, and other amounts which Tenant is required to pay hereunder, together with all interest, late charges, penalties, costs and expenses, including, without limitation, reasonable attorneys fees, legal and accounting expenses, collection costs, and court costs, that may accrue thereto or be incurred in the event of Tenant's default, refusal, or failure to pay such amounts, and all damages, costs, and expenses, including, but not limited to, reasonable attorneys fees, which Landlord may incur by reason of any default by Tenant or failure on Tenant's part to comply with the terms of this Lease. Amounts due from Tenant pursuant to Subsections 5(e)(i), 5(e)(ii), 5(e)(iii), 5(e)(iv) and 5(e)(v) above are collectively referred to herein as the Operating Expenses. As used in this Lease, the term Tenant's Share shall mean such portion of the total cost equal to the number of rentable square feet contained in the Premises at the time of such computation divided by the total rentable square footage of the Building. Tenant's Share as of the Commencement Date is set forth in the Summary of Terms.
(f) The Operating Expenses shall be paid as follows. Prior to the commencement of each year of the Term or as soon thereafter as practicable, Landlord shall give Tenant notice of its estimate of the Operating Expenses for the ensuing year of the Term. On or before the first day of each month during the ensuing year of the Term, Tenant shall pay to Landlord 1/12 of such estimated amount, provided that if such a notice is not given prior to the commencement of the ensuing year of the Term, Tenant shall continue to pay on the basis of the prior year's estimate until the month after such notice is given. If at any time or times it appears to Landlord that the actual Operating Expenses for the current year of the Term will vary from its estimate by more than five percent (5%), Landlord may, by notice to Tenant, revise its estimate for such year, and subsequent monthly installment payments by Tenant for such year shall be based on such revised estimate. Landlord's estimate of Operating Expenses for the first partial year of the Lease Term is Five Thousand Three Hundred Forty-three Dollars ($5,343) per month. The first months estimated Operating Expenses shall be paid upon execution of this Lease.
(g) Within ninety (90) days after the close of each calendar year of the Term or as soon after such 90-day period as practicable, Landlord shall deliver to Tenant (i) a statement of the Operating Expenses for such calendar year showing in reasonable detail the actual Operating Expenses incurred by Landlord, certified by Landlord, which certified statement shall be final and binding upon Landlord and Tenant, subject only to Tenant's Section 5(h) review, and (ii) a statement of the payments made by Tenant under Section 5(f) above for such year. If on the basis of such statements Tenant owes an amount that is less than the estimated Operating Expenses for such year previously made by Tenant, Landlord at its election shall either promptly refund the amount of the overpayment to Tenant or credit such excess against Tenant's subsequent obligations to Estimated Operating Expenses. If on the basis of such statements Tenant owes an amount that is more than the estimated Operating Expenses for such year previously made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such statements.
(h) If Tenant disputes the amount of Additional Rent stated in the statement, Tenant may designate, within thirty (30) days after receipt of that statement, an independent certified public accountant to inspect Landlord's records. Tenant is not entitled to request that inspection, however, if Tenant is then in default under this Lease. The accountant must be a member of a nationally recognized accounting firm and must not charge a fee based on the amount of Additional Rent that the accountant is able to save Tenant by the inspection. Tenant must give reasonable notice to Landlord of the request for Expenses inspection, and Taxesthe inspection must be conducted in Landlord's offices at a reasonable time or times. If, after that inspection, Tenant still disputes the Additional Rent, a certification of the proper amount shall be payable upon the execution of this Lease made, at Tenant's expense, by TenantLandlord's independent certified public accountant. All other items of Rent That certification shall be due final and payable by conclusive. If Tenant on discovers an excess of five percent (5%) or {QuinStreetgreater in the Operating Expenses charged to Tenant, Inc. -6-00004264then in addition to such discrepancy amount Landlord shall pay the cost of Landlord's accountant's certification and Tenant's accountant's review within thirty (30) days of such certification.} May 30
(i) At Landlord's election, 2003 Matter ID Number: 7329 before 30 Tenant shall pay to Landlord, within ten (10) days after billing receipt of invoice(s) therefore, any present Operating Expense incurred by Landlord. Rent If Tenant shall be made payable fail to pay any additional rent in accordance with the entity, and sent to the addressterms hereof, Landlord designates shall have all the rights and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay remedies with respect thereto as Landlord an administration fee equal to 5% has for nonpayment of all past due Monthly Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 1 contract
Samples: Office / R&d Lease (Improvenet Inc)
Rent. 4.01 (a) Commencing on the Commencement Date (the “Base Rent Commencement Date”), and thereafter throughout the term of this Lease, Tenant shall covenants to pay Landlord, without demand therefor and without any setoff setoff, counterclaim, abatement or deductiondeduction whatsoever, unless expressly set forth a net fixed minimum annual rent (herein called the “Base Rent”) equal to the “Base Rental Rate” (as such term is defined in Schedule C attached hereto and by this reference made a part hereof) from time to time in effect during the term of this Lease, all .
(b) The Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due payable commencing on the Base Rent Commencement Date and payable thereafter in equal monthly installments in advance on the first day of each and every calendar month without notice during the term of this Lease. If the Base Rent Commencement Date or demandthe last day of the term of this Lease occurs on a day other than the first or last day, provided that respectively, of a calendar month, then the installment of Base Rent for the fourth partial calendar month in which the Base Rent Commencement Date or such last day occurs shall be a prorated portion (subject on a per diem basis) of a full monthly installment of Base Rent.
(c) It is the purpose and intent of Landlord and Tenant that the Base Rent payable hereunder shall be absolutely net to TenantLandlord so that this Lease shall yield, net to Landlord, the Base Rent specified herein in each year during the term of this Lease. Accordingly, and without limiting the generality of the foregoing, Tenant shall be fully responsible for (and shall timely pay) all costs, expenses and charges of every kind and nature whatsoever relating to the Premises (whether ordinary or extraordinary, foreseen or unforeseen) that may arise or become due or payable during or in respect of the term of this Lease, including all costs, expenses and charges relating to the operation, maintenance, repair, replacement, use and/or occupancy of the Premises (it being understood, however, that nothing in this sentence shall make Tenant responsible for any debt service that is payable by Landlord under any Mortgage loan). Tenant shall be responsible for all such costs, expenses and charges whether or not they are first due and payable during the term of this Lease, so long as they are attributable to a period falling within (or prior to) such term. The provisions of this Section 3(c) shall survive the expiration or sooner termination of this Lease.
(d) All sums, other than Base Rent, payable by Tenant to Landlord under this Lease are considered additional rent for all purposes of this Lease (and the Base Rent and all additional rent are collectively called “Rent”). Landlord’s delay in rendering, or failure to render, any statement required to be rendered by Landlord for any Rent for any period shall not waive Landlord’s right to receive Abated Base render a statement or collect that Rent pursuant for that or any subsequent period. The rendering of an incorrect statement shall not waive Landlord’s right to Section 1.03 of this Lease) full calendar month render a corrected statement for the period covered by the incorrect statement and collect the correct amount of the TermRent.
(e) Landlord may, at its option, direct Tenant, from time to time, to pay all or any portion of the Rent directly to any other Person or party upon reasonable advance written notice to Tenant from Landlord; Landlord acknowledging and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided agreeing that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal rely upon such written notice without liability to Tenant to the Bank of America “prime rate”, extent Tenant makes such payments as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasedirected.
Appears in 1 contract
Rent. 4.01 3.1 Tenant shall pay to Landlord the following amounts as rent for the Premises:
(a) During the Lease Term, Tenant shall pay to Landlord, as monthly rent, the base rent specified in the Basic Lease Information (the “Base Rent”).
(b) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or incurred by Landlord in such calendar year.
(c) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year.
(d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the actual cost incurred by Landlord with respect to all electricity, chilled water, air conditioning, gas, fuel, steam, heat, light, power and other utilities consumed within the Premises, as more particularly described herein (all such costs payable by Tenant pursuant to this section 3.1(d) shall be referred to as “Tenant’s Monthly Utility Charge”, and all such amounts shall constitute rent hereunder).
(i) All electricity directly serving the Premises (“Direct Electrical Costs”) shall be metered or submetered and Tenant shall pay, as monthly rental, the actual cost (without any setoff mark up by Landlord) of all such Direct Electrical Costs either to Landlord as a reimbursement, or, at Landlord’s election, as a payment directly to the entity providing such electricity. Such payments to Landlord of Direct Electrical Costs shall be made within thirty (30) days of Landlord’s delivery of an invoice to Tenant therefor.
(ii) With respect to all utility costs for the Premises other than Direct Electrical Costs (collectively, “Other Utility Costs”), Landlord shall have the right, from time to time, to fairly and equitably allocate some or deductionall of such Other Utility Costs among different portions or occupants of the Building (“Cost Pools”), unless expressly set forth in Landlord’s reasonable discretion. Such Cost Pools may include, but shall not be limited to, office space tenants and research and development and laboratory tenants of the Building. The utility costs within each such Cost Pool shall be allocated and charged to the tenants within such Cost Pool in an equitable manner.
(e) Beginning on the Rent Commencement Date (or, if not the first day of a month, the first day of the month following the Rent Commencement Date), during each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the Allowance Rent, if any, as provided in Exhibit B attached hereto.
(f) Throughout the Lease Term, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease, whether or not such amounts of money and charges are otherwise designated “additional rent.” As used in this Lease, “rent” shall mean and include all Base Rent Rent, Allowance Rent, all additional rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that other amounts payable by Tenant is required to pay Landlord under in accordance with this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes.
3.2 The additional rent payable pursuant to sections 3.1(b), if any3.1(c), imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent 3.1(d)(ii) hereof shall be due calculated and payable paid in advance on accordance with the following procedures:
(a) On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord’s estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the ensuing calendar year. On or before the first day of each month without during such ensuing calendar year, Tenant shall pay to Landlord, as monthly rent, one twelfth of such estimated amounts. If such notice is not given for any calendar year, Tenant shall continue to pay on the basis of the prior calendar year’s estimate until the month after such notice is given. If at any time it appears to Landlord that the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the current calendar year will vary from Landlord’s estimate, Landlord may, by giving written notice to Tenant, revise its estimate for such calendar year. If Landlord delivers its estimate after the first day of a calendar year, or if Landlord revises its estimate for a calendar year, then subsequent payments by Tenant for such calendar year shall be based on such late or revised estimate, as the case may be, with an appropriate adjustment to the amount of such subsequent payments such that, prior to the end of such calendar year or portion thereof during the Lease Term, Tenant shall have paid Landlord’s entire estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year.
(b) Within a reasonable time after the end of each calendar year, but no later than April 1, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year certified by Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall credit the excess to the next succeeding monthly installments payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within ten (10) days after delivery of such statement. Failure by Landlord to give any notice or statement to Tenant under this section 3.2 shall not waive Landlord’s right to receive, and Tenant’s obligation to pay, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. During the Lease Term, but in no event more often than once in any one (1) year period, Tenant or its authorized employee or representative shall have the right to inspect the books of Landlord relating to Operating Expenses and Property Taxes, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord’s office in the Project or at such other location as Landlord may designate, for the purpose of verifying the information in such statement; provided that, if Tenant utilizes an independent accountant to perform such review, then such accountant shall be one of national standing which is reasonably acceptable to Landlord and is not compensated on a contingency basis; and provided further that Tenant shall have no right to inspect such books pertaining to any given period more than ninety (90) days after Landlord shall have delivered the written statement pertaining to such period.
(c) If the Lease Term ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.l(d)(ii) hereof applicable to the calendar year in which the end of the term occurs shall be prorated on the basis which the number of days from the commencement of such calendar year to and including the date on which the end of the term occurs bears to three hundred sixty five (365). Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be performed after such termination.
3.3 Tenant shall pay all monthly installments of Base Rent and monthly installments of Landlord’s estimates of amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof and monthly installments of the Allowance Rent (collectively, “Monthly Rent”) to Landlord, in advance, on or before the first day of each and every calendar month during the Lease Term, without notice, demand, provided that deduction or offset, in lawful money of the installment United States of America. Landlord instructs Tenant to pay all such Monthly Rent to the address specified therefor in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect. If Xxxxxx’s obligation to pay Base Rent hereunder commences on a day other than the first day of a calendar month, or if the Lease Term terminates on a day other than the last day of a calendar month, then the Base Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Upon signing this Lease, Tenant shall pay to Landlord an amount equal to the Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) first full calendar month of the TermTerm in which monthly Base Rent is payable, and which amount Landlord shall apply to the first monthly installment of Additional Base Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264such first full calendar month.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 1 contract
Samples: Lease (Bionano Genomics, Inc.)
Rent. 4.01 Tenant shall A. Lessee will pay Landlordto the Lessor as monthly rent for the Premises the 1949.25 per month for the first year , without any setoff or deduction, unless expressly payable in consecutive monthly installments as set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Monthly Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on or before the first day of each calendar month during the term of this Lease, without notice or demand, notice, deduction, offset or counterclaim; provided, however, that if the Commencement Date is a day other than the first day of a calendar month or the Termination Date other than the last day of a calendar month, the Monthly Rent for such first or last fractional month shall be prorated on the basis of the number of days during the month this Lease was in effect in relation to the total number or days in such month and further provided that Lessee shall pay the installment first Monthly Rent upon execution of Base this Lease.
B. If the Monthly Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to as set forth in this Section 1.03 5(A) of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 is not paid within five (5) days after billing by Landlord. Rent such rent is due, it shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue bear interest at a rate of eighteen percent (18%) per annum equal to from the Bank of America “prime rate”due date thereof until paid in full, as or a minimum $ 50.00
C. A Security Deposit in the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account 1949.25 (“Security Deposit”) has been deposited by Lessee with the Lessor. If Lessee performs and observes all of the earliest terms, conditions and covenants of this Lease which are required to be performed and observed by it Lessor shall return the Security Deposit or balance thereof held by Lessor without interest to Lessee within thirty (30) days after the Termination Date or after Lessee surrenders possession of the Premises, whichever is later. If Lessee defaults in the payment of Monthly Rent due. or the performance or observance of any of the other terms, conditions or covenants of this Lease the Lessor may, at its option and without notice, apply all or any part of the Security Deposit as payment of such Monthly Rent for or to cure any partial month other such default and if Lessor does so, Lessee must immediately, upon receipt of notice from Lessor, deposit with Lessor the amounts so applied so that Lessor shall have on hand at all times during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent term of every other covenant in this LeaseLease the full amount of the Security Deposit.
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Rent. 4.01 (A) Throughout the term, beginning on the Commencement Date, Tenant shall will pay LandlordLandlord a monthly base rent ("Monthly Base Rent") in the amount set out in subsection (B) below, without any setoff or deduction, unless expressly set forth in this Lease, all which Monthly Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and will be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance advance, on the first day of each calendar month during the term hereof, without prior notice or demand, provided that to Landlord or its agent at Kxxx & Hxxxxx Commercial Real Estate, Inc. P.X. Xxx 00000 Xxxxx Xxxxx, XX 00000 , or to such other party or at such other address as Landlord may designate in writing. If the installment term of this Lease should commence on any day other than the first day of a calendar month or should end on any day other than the last day of a calendar month, the Monthly Base Rent for such fractional month shall be prorated in the fourth proportion that the number of days this Lease was in effect during such month bears to thirty (subject to Tenant’s right to receive Abated 30).
(B) During the Initial Term, the Monthly Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall will be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”following: Months 1-6 $Zero monthly, as Months 7-12 $2,500.00 monthly, Months 13-24 $3,300.00 monthly and Months 25-60 $5,000.00 monthly (the same may be announced from time to time, plus two percent (2%"Initial Term Base Rent"). Landlord’s acceptance During the first Renewal Term, the Monthly Base Rent will be equal to $5,500.00 monthly. During the second Renewal Term, the Monthly Base Rent will be equal to $6,050.00 Monthly.
(C) In addition to the Monthly Base Rent, Tenant will pay to Landlord as additional rent ("Additional Rent"), at the address provided for the payment of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent dueMonthly Base Rent, any other amounts whatsoever that Tenant assumes or agrees to pay, or that become due by Tenant to Landlord hereunder. Rent for any partial month during the Term shall be prorated. No endorsement The term, "rent" or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant "Rent" as used in this Lease, shall mean Monthly Base Rent and Additional Rent, collectively.
Appears in 1 contract
Samples: Lease Agreement (GolfSuites 1, Inc.)
Rent. 4.01 4.1. As rental for the use and occupancy of the Leased Premises (hereinafter sometimes called “Base Rental”) Tenant shall pay (and hereby agrees to pay) to Landlord, at the Building office (or at such other address as designated by Landlord), in advance, without any setoff or demand, deduction, unless set-off or abatement (except as expressly set forth provided for in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if anythe sums described in Article 4.1.1. below, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that for each and every month during the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 Term of this Lease) full calendar , in lawful money of the United States of America, the first such payment of Base Rental to be due and payable for the month of September, 2005 on or before September 1, 2005, in the Termamount of Twenty-seven Thousand Thirty-five and 17/100 ($27,035.17) which includes the Storage Rental, and the first monthly installment subsequent installments of Additional Rent for Expenses Base and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent Storage Rental shall be due and payable, in advance, on the first day of each month thereafter in accordance with the Base Rental Schedule for the remainder of the Term of this Lease. If the Commencement Date or the date of Substantial Completion of the Finish Out Work is not the first day of a calendar month, or the Lease terminates on a day other than the last day of a calendar month, Tenant will pay a pro rata part of such monthly amount as rental for the first or last partial month, as the case may be. Tenant shall also pay to Landlord all other sums of money as shall become due from and payable by Tenant on to Landlord under the terms of this Lease (“Additional Rent”). Subject to notice and cure periods as expressly provided for in Article 19.1.1 of this Lease, Landlord shall have the same remedies for default for the payment of Additional Rent as are available to Landlord in the case of a default in the payment of Base Rental.
4.1.1. Base Rental Schedule will be as follows: 09/01/05 — Substantial Completion $14.00 per NRA/annum $25,693.50 Substantial Completion through Month 7 ABATED ABATED Months 08 — 18 $15.00 per NRA/annum* $48,807.50 per month Months 19 — 54 $15.00 per NRA/annum $55,057.50 per month Months 55 — 78 $15.50 per NRA/annum $56,892.75 per month Storage Rental (as hereinafter defined in the Addendum) 09/01/05 — Expiration Date $10.00 per NRA/annum $ 1,341.67 per month * The 39,046 square feet of NRA represents the entire Leased Premises of 44,046 NRA less 5,000 square feet of space to be known as the “Growth Space”.
4.2. Any payment of Base Rental received after the fifth (5th) business day of the month, or {QuinStreetany payment of Additional Rent, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 or any other sums due to Landlord hereunder received later than ten (10) days after billing by Landlord. Rent the due date, shall be made payable to the entityhe considered a late payment, and sent to such amounts shall bear interest from the address, Landlord designates and shall be made by good and sufficient check due date until paid at the lesser of: (1) twelve percent (12%) per annum; or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus (2) two percent (2%)) below the highest nonusurious interest rate permitted by applicable law. Landlord’s acceptance of less than the correct amount of Rent Any such interest shall be considered a payment on account of the earliest payable as Additional Rent due. Rent for any partial month during the Term hereunder and shall be prorated. No endorsement or statement payable to Landlord immediately on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasedemand.
Appears in 1 contract
Samples: Lease Agreement (Franklin Bank Corp)
Rent. 4.01 4.1. Rental shall accrue hereunder from the Commencement Date and shall be payable at the address of Landlord's Agent or such other place as Landlord shall designate in writing to Tenant. Landlord hereby acknowledges receipt from Tenant shall pay Landlordof the Prepaid Rent stated in Section 1.1(I) above, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for to be applied to the Term (collectively referred to as “first accruing installments of Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease.
4.2. Tenant shall pay and be liable for all rentalto Landlord the Rent in monthly installments in the amounts specified in Section 1.1(I) above, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the deduction or setoff. The first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreetbefore the Commencement Date, Inc. -6-00004264.} May 30and installments in the respective amounts specified in Section 1.1(1) shall be due and payable on or before the first day of each succeeding calendar month during the Lease Term; provided, 2003 Matter ID Number: 7329 that if the Commencement Date should fall on a date other than the first day of a calendar month, there shall be due and payable on or before 30 the Commencement Date, as rental for the balance of the calendar month during which the Commencement Date shall fall, a sum equal to that proportion of the Rent specified for the first full calendar month as herein provided, which the number of days after billing by Landlord. from the Commencement Date to the end of the calendar month during which the Commencement Date shall fall bears to the total number of days in such month, and all succeeding installments of Rent shall be made payable in the respective amounts specified in Section 1.1(H) on or before the first day of each succeeding calendar month during the Lease Term.
4.3. Tenant agrees to deposit with Landlord on the entitydate hereof the Security Deposit which shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's obligations under this Lease. It being expressly understood and agreed that the Security Deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon each occurrence of an Event of Default, Landlord may use all or part of the Security Deposit to pay past due Rent or other payments due Landlord under this Lease, and sent the cost o an o her damage, injury, expense or liability caused by such Event of Default without prejudice to the addressany other remedy provided herein or provided by law. On demand, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal the amount that will restore the Security Deposit to 5% its original amount. If Tenant is not then in default hereunder, any remaining balance of all past due Rent, provided that Tenant the Security Deposit shall be entitled returned by Landlord to a grace period Tenant upon termination of 5 days for this Lease; provided, however, should the first 2 late payments Lease terminate, as herein provided, during the middle of any year, Landlord shall be permitted to retain the Security Deposit to secure the payment of any and all amounts of Rent in a calendar year. In additionescalations, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent which are provided for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease, which might be due for the Tenant's pro-rata portion of the year that Tenant had occupied the Leased Premises. The Security Deposit shall be promptly returned to Tenant if Landlord determines that no escalations are due by the Tenant for such year. If Tenant owes any such escalations, the same shall be deducted from the Security Deposit, and the balance thereof, if any, remitted to the Tenant.
4.4. Should Landlord fail to receive any Rent due under this Lease within five (5) days after such payment is due, Tenant agrees to pay Landlord as a late charge, ten percent (10%) of any such payment in order to compensate Landlord for expenses incurred for processing late payments.
4.5. Tenant agrees to furnish to Landlord, concurrently with the execution of this Lease, a Lease Guaranty Agreement in the form attached as EXHIBIT "D" executed by the Lease Guarantor.
Appears in 1 contract
Rent. 4.01 Tenant shall covenants and agrees to pay to Landlord, promptly when due, without any setoff notice or demand or deduction, unless expressly abatement or set forth in this Leaseoff of any amount for any reason whatsoever, as rent hereunder ("Rent"), all Base Basic Rent and Additional all Percentage Rent due (as defined below). All Rent to be paid by Tenant to Landlord shall be in lawful currency of the United States of America and shall be paid to Landlord at the address or into the account as may be designated from time to time by Landlord ("Landlord's Address").
A. Basic rent for the Term Premises (collectively referred to as “"Basic Rent”). “Additional Rent” means all sums (exclusive ") shall be paid in monthly installments, each of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent which shall be due and payable in advance on the first business day of each the calendar month without notice or demandin the amount specified in Exhibit A hereto.
B. In addition to the Basic Rent, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of Tenant shall also pay during the Term, and without notice, demand, abatement, reduction or set off, additional percentage rent ("Percentage Rent") in accordance with the first monthly installment of Additional formulae for Percentage Rent set forth in Exhibit B hereto. Percentage Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a each calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be proratedpayable in monthly installments on the 20th day of the following calendar month. No endorsement Within 20 days after the end of each calendar month in the Term, Tenant shall deliver to Landlord a statement executed by Tenant accurately setting forth the amount of Gross Receipts for such month and Tenant's calculation of the Percentage Rent payable for such month, itemized in reasonable detail. Within 90 days after the end of each calendar year of the Term, Tenant shall furnish to Landlord a statement accurately showing Gross Receipts and Percentage Rents for such year itemized in reasonable detail, and shall contemporaneously therewith pay any Percentage Rent due and unpaid for such year, provided, however, that if Tenant has overpaid Percentage Rents during such year, Landlord shall, at its option, either refund such excess to Tenant or statement on a check or letter accompanying payment credit the amount thereof to the next succeeding monthly, installments of Percentage Rent payable by Tenant. With respect to the last Lease Year of the Term, such annual reconciliation and adjustment, if any, shall be considered an accord and satisfactionmade within 30 days. Tenant’s covenant The provisions of this Section 3.B shall survive the end of the Term.
C. The term "Gross Receipts" with respect to pay Rent is independent of every other covenant in this Lease.any period shall:
Appears in 1 contract
Rent. 4.01 Tenant shall agrees to pay Landlordto Landlord the Base Rent and the Common Area Maintenance Fee (the Common Area Maintenance Fee, without any setoff or deductiontogether with other charges provided for herein are referred to as "Additional Rent." Collectively, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively are referred to as “"Rent”). “Additional Rent” means all sums (exclusive of Base Rent") that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rentalby paying monthly installments in advance, sales and use taxes (but excluding income taxes), if any, imposed upon on or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on before the first day of each full calendar month during the Term, except that the first month's Base Rent and Common Area Maintenance Fee shall be paid upon the execution hereof. Rent for any period during the Term which is less than one full month shall be a prorated portion of the monthly installment of Rent based upon a thirty (30) day month. Said Rent shall be paid to Landlord, without deduction or offset and without notice or demanddemand at the Landlord's address, provided that as set forth on the installment of Base Rent for the fourth (subject Reference Page, or to Tenant’s right such other person or at such other place as Landlord may from time to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenanttime designate in writing. All other items Payment of Rent shall be commence on the earlier of the Commencement Date and the date Tenant first occupies the Premises. Tenant recognizes that late payment of any Rent or other sum due hereunder will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if Rent or any other sum is due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 pursuant to this Lease; and when such amount remains due and unpaid ten (10) days after billing by Landlord. Rent said amount is due, such amount shall be made payable increased by a late charge in an amount equal to the entitygreater of (a) $250.00, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee (b) a sum equal to 5% of all past due Rent, provided that the unpaid Rent or other payment. The amount of the late charge to be paid by Tenant shall be entitled reassessed and added to a grace Tenant's obligation for each successive monthly period until paid. The provisions of 5 days for the first 2 late payments of Rent this Article in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account no way relieve Tenant of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant obligation to pay Rent or other payments on or before the date on which they are due, nor do the terms of this Article in any way affect Landlord's remedies pursuant to Article 21 of this Lease in the event said rent or other payment is independent unpaid after the date due. No security or guarantee which may now be or hereafter be furnished to Landlord for the payment of every Rent or the performance of Tenant's other covenant obligations under this Lease shall in any way constitute a bar to the recovery of the Premises or defense to any action in unlawful detainer or to any other action which Landlord may bring for a breach or any of the terms, covenants or conditions of this Lease.
Appears in 1 contract
Rent. 4.01 4.1 Tenant shall hereby agrees to pay Landlord, without any setoff or deduction, unless expressly set forth Landlord the Base Rent subject to recalculation as provided in this Section 1.2. For purposes of Rent adjustment under the Lease, all the number of months is measured from the first day of the calendar month in which the Commencement Date falls. Notwithstanding the foregoing, in consideration of Tenant entering into this lease, the monthly Base Rent and Additional Rent due Tenant’s Share of Operating Expenses and Taxes shall be abated for the Term first three (collectively referred 3) months after the Commencement Date and Tenant shall have no obligation to as “Rent”). “Additional Rent” means all sums (exclusive make any payment of Base Rent, Taxes or other Operating Expenses during such three (3) month period. Landlord and Tenant agree for tax reporting purposes that Tenant is required to pay Landlord under this Lease. Tenant shall pay none of the Base Rent or Tenant’s Share of Operating Expenses and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Taxes due in periods in which Base Rent and recurring monthly charges Tenant’s Share of Additional Rent Operating Expenses and Taxes is not being abated shall be due and allocated to any other period. Each monthly installment (the “Monthly Rent”) shall be payable in advance by check or by money order on or before the first day of each calendar month without notice or demandmonth. In addition to the Base Rent, provided that the installment of Base Rent for the fourth (subject Tenant also agrees to pay Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 Share of this Lease) full calendar month of the TermOperating Expenses and Taxes (each as hereinafter defined), and the first monthly installment any and all other sums of Additional Rent for Expenses and Taxes, money as shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be become due and payable by Tenant on as hereinafter set forth, all of which shall constitute additional rent under this Lease (the “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing any other items of Rent that are not paid by LandlordTenant. The Monthly Rent shall be made payable to and the entity, and sent to the address, Landlord designates Additional Rent are sometimes hereinafter collectively called “Rent” and shall be made by good and sufficient check paid when due in lawful money of the United States without demand, deduction, abatement, or by other means acceptable offset to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days the addresses for the first 2 late payments of Rent rental payment set forth in a calendar year. In additionthe Basic Lease Information, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, or as the same Landlord may be announced 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, plus two Tenant shall pay to Landlord a late charge (the “Late Charge”), as Additional Rent, in an amount of five percent (25%) of the amount of such late payment. 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 acceptance 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 less than Landlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments. Notwithstanding the correct amount foregoing provisions of Rent this Section 4.2, the 5% Late Charge shall not be considered a imposed with respect to the first late payment on account of in the earliest Rent due. Rent for twelve (12) months following the Commencement Date or with respect to the first late payment in any partial succeeding twelve (12) month period during the Term unless the applicable payment due from Tenant is not received by Landlord within five (5) days following written notice from Landlord that such payment was not received when due. Following the first such written notice from Landlord in the twelve (12) months following the Commencement Date and the first such written notice in any succeeding twelve (12) month period during the term (but regardless of whether such payment has been received within such five (5) day period), the Late Charge will be imposed without notice for any subsequent payment due from Tenant during such applicable twelve (12) month period which is not received within five (5) days after its due date.
4.3 Simultaneously with the execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable on Execution as payment of the first installment due (which covers the fourth month of the Lease Term) of Monthly Rent and Tenant’s Share of Operating Expenses and Taxes due hereunder and (ii) an amount equal to the Security Deposit Amount to be held by Landlord as security for Tenant’s faithful performance of all of the terms, covenants, conditions, and obligations required to be performed by Tenant hereunder (the “Security Deposit”). The Security Deposit shall be proratedheld 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. No endorsement The Security Deposit is not an advance rent deposit, an advance payment of any other kind, or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. measure of Landlord’s damages in any case of Tenant’s covenant default. If Tenant fails to pay 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 is independent of every or any other covenant sum in this Leasedefault and/or to cure any other such failure by Tenant.
Appears in 1 contract
Samples: Lease Agreement (Imperva Inc)
Rent. 4.01 Tenant shall pay Landlord(a) Commencing upon the Ground Lease Commencement Date, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due the initial ground rent for the Term Site shall be [***] per annum, payable in equal installments of [***] per month (collectively referred to as the “Rent”). “Additional Rent” means all sums ; provided, that if at any time during the term of this Ground Lease (exclusive i) the Landlord enters into a long-term lease for any real (immovable) property owned or leased by the Landlord that is located within the Industrial Zone and has direct or indirect access to the Mississippi River with any person or entity other than a Tenant or its Affiliates and (ii) such lease contains economic terms (including rent) which are, in the aggregate, more favorable to such lessee than the economic terms of Base Rent) that Tenant is required to pay this Ground Lease, the Landlord under this Lease. and the Tenant shall pay and be liable for all rentalpromptly amend this Ground Lease in order that the Tenant shall obtain the benefit of such more favorable terms. Commencing on the fifth (5th) anniversary of the Ground Lease Commencement Date, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional the Rent shall be adjusted in accordance with Section 4.1(b). Rent will be due and payable in advance each month on the first 1st day of each calendar the month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon by the execution 15th day of this Lease by Tenant. All other items that month; provided, however, that (x) the first payment of Rent shall be due and payable by Tenant on or {QuinStreetthe Ground Lease Commencement Date and, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to if the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by Ground Lease Commencement Date is a date other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for than the first 2 late payments day of Rent in a calendar year. In additionthe month, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount first payment of Rent shall be considered in a payment on account prorated amount for the period of time between the Ground Lease Commencement Date and the next following first day of the earliest month; (y) the first payment of Rent duedue upon the commencement of any new Adjustment Period will be owed and paid one month after the commencement of that Adjustment Period, in order to permit the Tenant to calculate the CPI Adjustment as provided in Section 4.2; and (z) the last payment of Rent shall be in a prorated amount for the period of time between the immediately preceding first day of the month and the last day of the Term. The Landlord acknowledges and agrees that the Tenant shall be permitted to apply the Rent Credit Amount to satisfy, dollar-for-dollar, its payment obligations under this Section 4.1 until one hundred percent (100%) of the Rent Credit Amount has been so applied, whether under this Ground Lease or any other lease between the Landlord and the Tenant or its Affiliate.
(b) Commencing on the fifth (5th) anniversary of the Ground Lease Commencement Date and on every fifth (5th) year thereafter during the Term, the Rent shall be adjusted upward by a percentage equal to the greater of [***] or the CPI Percentage Increase (as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. The period of time from the Ground Lease Commencement Date through the date five years thereafter, and each five (5) year period thereafter, shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any payment under this Ground Lease shall hereinafter be referred to as a “CPI Adjustment.”
(c) Pursuant to the terms of the Option Agreement, the Tenant has paid to the Landlord (i) the sum of [***] as advance Rent (the “Advance Rent Payment Aggregate Amount”) and (ii) the sum of [***] to extend the closing date thereunder.
(d) The Landlord and the Tenant agree that the Rent shall constitute all charges applicable for the use, enjoyment and operation of the Site, but the Rent is not intended to include, and will not include, reduce or xxxxx, any taxes, tariffs, fees or charges that may be assessed by the Landlord, as a political subdivision of the State of Louisiana, pursuant to Applicable Laws, against vessels calling at Facility or for such vessels using any other facilities or waterways that are subject to the Landlord’s jurisdiction. Any such taxes, tariffs, fees or charges will be separately assessed, charged and paid by the vessel’s owners or charterers in accordance with the Landlord’s assessments of same, all in accordance with Applicable Laws. The Tenant shall not be responsible for any partial month during such taxes, tariffs, fees or charges, rather the Term Landlord shall be proratedsolely responsible for dealing directly with such vessel owners and charterers regarding such taxes, tariffs, fees or charges. No endorsement Nothing in this Ground Lease is intended to relieve any vessel owner of any obligation it may have under Applicable Laws to pay taxes, tariffs, fees or statement charges legally assessed by the Landlord for use of the of waterways within Landlord’s jurisdiction. Any taxes, tariffs, fees or charges assessed by the Landlord for use of the waterways within the Landlord’s jurisdiction shall be assessed and applied uniformly, on a check non-discriminatory manner, against all vessels within the Landlord’s jurisdiction and any such taxes, tariffs, fees or letter accompanying payment charges assessed by the Landlord on such vessels shall not exceed market rates for such taxes, tariffs, fees or charges assessed by similar ports within the United States.
(e) In addition to any taxes, tariffs, fees, or charges assessed pursuant to Section 4.1(d), a fixed fee of [***] (the “Throughput Fee”) may be assessed by the Landlord, as additional Rent, for the export of LNG from the Facility, commencing in the first month following the commercial operation date of the Facility. For the purposes of this Section 4.1(e), LNG imported or exported means the quantity of LNG (expressed in dekatherms) loaded onto or unloaded from an LNG vessel at the Facility, as measured and reported by the Tenant to the U.S. Department of Energy (“DOE Reporting”), and excludes LNG used or consumed (including as marine fuel) by the LNG vessel in the loading or unloading process and LNG that unloading process and LNG that evaporates during transfer (known as “boil off”). Any Throughput Fee, to the extent assessed by the Landlord, will be separately paid on a monthly basis by the Tenant to the Landlord based on LNG quantities imported to or exported from the Facility as set forth in the relevant DOE Reporting. Commencing on the fifth (5th) anniversary of the Ground Lease Commencement Date, and each Adjustment Period thereafter, the Throughput Fee shall be considered adjusted by a percentage equal to the greater of [***] or the CPI Percentage Increase, but in no event to exceed an accord and satisfactionadjustment during any Adjustment Period of greater than [***]. Tenant’s covenant For the avoidance of doubt, the Tenant shall not be obligated to pay Rent is independent of every other covenant in this Leasethe Throughput Fee with respect to any natural gas used by the Facility to produce electrical power for LNG production or for electrical power generated at the Facility and sold or transmitted into the electrical grid.
Appears in 1 contract
Rent. 4.01 4.1 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required hereby agrees to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. the Base Rent and recurring subject to recalculation as provided in Section 1.2. 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 charges of Additional Rent installment (the “Monthly Rent”) shall be due and payable in advance by check or by money order on or before the first day of each calendar month without notice or demandmonth. In addition to the Base Rent, provided that the installment of Base Rent for the fourth (subject Tenant also agrees to pay Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 Share of this Lease) full calendar month of the TermOperating Expenses and Taxes (each as hereinafter defined), and the first monthly installment any and all other sums of Additional Rent for Expenses and Taxes, money as shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be become due and payable by Tenant on as hereinafter set forth, all of which shall constitute additional rent under this Lease (the “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing any other items of Rent that are not paid by LandlordTenant. The Monthly Rent shall be made payable to and the entity, and sent to the address, Landlord designates Additional Rent are sometimes hereinafter collectively called “Rent” and shall be made by good and sufficient check paid when due in lawful money of the United States without demand, deduction, abatement, or by other means acceptable offset to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days the addresses for the first 2 late payments of Rent rental payment set forth in a calendar year. In additionthe Basic Lease Information, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, or as the same Landlord may be announced designate from time to time. As an inducement to Tenant entering into this Lease, plus two Base Rent shall be abated for the first sixty (60) days after the Commencement Date. Landlord and Tenant agree for tax reporting purposes that none of the Base Rent due in periods in which the Base Rent is not being abated shall be allocated to any other period.
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 (25%) of the amount of such late payment. 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 on Execution set forth in the Basic Lease Information as payment of the first installment of Monthly Rent due hereunder and (ii) an amount equal to the Security Deposit to be held by Landlord as security for Tenant’s faithful performance of all of the terms, covenants, conditions, and obligations required to be performed by Tenant hereunder (the “Security Deposit”). The Security Deposit 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 full amount then required by this Section 4.3. Landlord’s acceptance obligations with respect to the Security Deposit are those of less than a debtor and not a trustee. Landlord shall not be required to maintain the correct amount Security Deposit separate and apart from Landlord’s general or other funds and Landlord may commingle the Security Deposit with any of Rent 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 considered a payment on account of released from further liability with respect to the earliest Rent due. Rent for any partial month during Security Deposit upon the Term shall be prorated. No endorsement original Landlord’s or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenantsuch successor owner’s covenant to pay Rent is independent of every other covenant in this Leasecomplying with California Civil Code Section 1950.
Appears in 1 contract
Samples: Lease Agreement (Biotime Inc)
Rent. 4.01 Tenant The Rent due for the entire Lease Term is $ . Rent shall pay Landlord, without also include any setoff or deduction, unless expressly set forth other charges identified in this Lease, all Base Lease as “Rent” or “Additional Rent”. Rent and Additional Rent is payable in one of the following payment options: If Rent is not paid in accordance with the terms set forth above, Landlord will commence with the removal of the Tenant. Rent is due on the specified dates in the amounts shown above. Any Rent received more than five (5) days after the due date shown above (the 1st of every month for the Term monthly option) is subject to a Fifty Dollar (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent$50.00) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent late fee which shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of as Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past beginning with the sixth day after the due Rent shall accrue interest at date of a rate rent payment, you will be charged an additional charge of $5.00 per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a day until payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfactionis received in full. Tenant’s covenant right of possession and all of Landlord’s obligations are expressly contingent on prompt payment of Rent and use of the Premises by Tenant is granted only on the condition that Rent is paid on time. If Tenant fails to pay Rent is independent of every other covenant in or Additional Rent due under this Lease, Landlord will give Tenant a three (3) day notice to pay or vacate Premises (excluding weekends and holidays). Should Tenant fail to pay in full, Landlord will refer the matter to an attorney to proceed with eviction. Landlord will not accept partial payment of Rent or Additional Rent. Should Tenant elect to vacate the Apartment, Tenant continues to remain liable for all Rent and charges due through the balance of the Lease Term. Tenant is responsible to pay all court costs and attorney’s fees in an eviction suit, or for any other legal action commenced by Landlord for the enforcement of the terms and conditions of this Lease. Owed rent will be sent to Collections and a 30% Collections Fee will be assessed. Payments shall be applied first to any unsatisfied charges, late fees, repairs, or other fees owed by Tenant, and then to Additional Rent that is owed, then to Rent. Rent payments will be applied to the earliest date owing. This Lease does not automatically renew upon expiration of the Lease Term designated. In order for Current Tenants to remain in their current room, they must contact the Management office and submit a Lease renewal form. Apartments are filled on a first come basis. Current Tenants must reserve early or risk losing their current room assignment. Landlord may accept or deny any such renewal request at its sole discretion.
Appears in 1 contract
Samples: Lease Agreement
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth to Landlord as the base rent for the Premises the sum of One Hundred Twenty Five ($125.00) per month in advance throughout the term of this Lease, all Base Rent and Additional Rent due for commencing on the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rentalCommencement Date, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar and every month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlordthereafter. Rent shall be made payable to prorated for the entity, first and sent to last months of the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlordterm of this Lease should the Commencement Date not fall upon the first day of a calendar month. Tenant shall pay to Landlord, prior to the Commencement Date of this Lease Agreement, the sum of One Hundred Twenty Five ($125.00 ) which shall constitute advance payment of the first month's rent of the Lease term. All rental payments shall be in lawful money of the United States of America, without deduction or offset whatsoever. Should Tenant exercise its right to extend the Lease term for an additional Five (5) year period as described in Paragraph "Term", above, rent for each extended term shall be determined as follows: Upon receiving Tenant's notice to exercise its option for the extended term, Landlord an administration fee equal to 5% of all past due Rent, provided that and Tenant shall seek to agree on a minimum monthly rent during the extended term. If the parties reach an agreement as to the minimum monthly rent, they shall execute an amendment to this Lease reciting said rental sum. Should the parties not agree on the minimum monthly rent within thirty (30) days from the date of the notice sent by Tenant to Landlord to extend the term of this Lease, each party shall, within ten (10) days after expiration of said thirty (30) day period, appoint a real estate appraiser with at least five (5) years commercial appraisal experience in the area in which the Premises are located to appraise and set the minimum monthly rent for the extended term. If a party does not appoint an appraiser within ten (10) days after the other party has given notice of the name of his or its appraiser, the single appraiser appointed shall be entitled the sole appraiser and shall set the minimum monthly rent for the extended term. If the two appraisers are appointed by the parties as stated in this Paragraph, they shall meet promptly and attempt to set the minimum monthly rent for the extended term. If they are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to elect a grace third appraiser meeting the qualifications stated in this Paragraph within ten (10) days after the last day the two appraisers are given to set the minimum monthly rent. If they are unable to agree on the third appraiser, either of the parties of the Lease by giving ten (10) days notice to the other party can apply to the presiding Judge of the Superior Court of Santa Xxxx County for the selection of a third appraiser who meets the qualifications stated in this Paragraph. Each of the parties shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either party. The parties shall each pay for the costs and fees of the appraiser it has chosen initially. Within twenty (20) days after the selection of the third appraiser a majority of the appraisers shall set the minimum monthly rent for the extended term. If a majority of the appraisers are unable to set the minimum monthly rent within the stipulated period of 5 days time the three (3) appraisals shall be added together and their total divided by three; the resulting quotient shall be the minimum monthly rent for the Premises during the extended term. In setting the minimum monthly rent for the extended term, the appraiser or appraisers shall consider the use to which the Premises are restricted under this Lease. After the minimum monthly rent for the extended term has been set, the appraisers shall immediately notify the parties. Tenant shall have no other right to extend the term beyond the extended terms provided above. Notwithstanding the above, the minimum monthly rent shall in no event be less than the monthly rent payable by Tenant during the last month of the initial term, for the first 2 late payments of Rent in a calendar year. In additionextended term, past due Rent shall accrue interest at a rate per annum equal to and during the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account last month of the earliest Rent due. Rent immediately preceding extended term for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasenext extended term.
Appears in 1 contract
Samples: Lease Addendum (Coast Bancorp)
Rent. 4.01 (a) Tenant under this Lease consists of individual(s), each of which is identified in the first paragraph above. During the term of this Lease, Tenant shall pay Landlord rent for the Premises in equal monthly installments of $ per month, without setoff, reduction or abatement of any kind, and without regard to how many individuals are signing this Lease as Tenant.
(b) In addition to the monthly rent payable to Landlord, without any setoff or deductionTenant shall be responsible for directly paying all utility services, unless expressly set forth in this Lease, all Base Rent except garbage collection and Additional Rent due sewage services for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this LeasePremises which shall be paid by Landlord. Tenant shall pay and be liable for all rentalhave the electric utility services transferred into Tenant’s name. In addition, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent Tenant shall be due responsible for a water, sewage, and garbage surcharge of $ per month for the Premises to be paid in addition to any other rent described above. This equals a per person surcharge of $ 24 per month for each individual signing this Lease as Tenant, all of which shall be paid in conjunction with the other monthly rent payments described above in this Section 3. Any temporary interruption of utility services from any cause shall neither be deemed an eviction nor entitle Tenant to damages or rent deduction as a result.
(c) In addition to the monthly rent payable to Landlord, Tenant shall be responsible for a cable television and internet surcharge of $ 54 per month for the Premises to be paid in addition to any other rent described above. Any temporary interruption of cable or internet services from any cause shall neither be deemed an eviction nor entitle Tenant to damages or rent deduction as a result. 5207710.3
(d) All rent is payable in advance on or before the first day of each calendar month without notice or demand, provided that during the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 term of this Lease) full calendar month , with the first such payment of rent being due on or before the commencement date as described in Section 2 of this Lease, in certified or guaranteed funds. If Landlord does not receive Tenant’s monthly rent installment on or before the third day of the Termmonth in which it is due, and Tenant shall pay to Landlord in addition to the first monthly rent installment the sum of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant$50.00 per month as a late rent fee. All other items of Rent shall be due and payable by Tenant Any rent payment received on or {QuinStreet, Inc. -6-00004264after the fourth of the month in which it is due will be required to be made with certified or guaranteed funds.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent
(e) All rent checks shall be made payable to the entityLandlord and mailed or delivered to Landlord at X.X. Xxx 000, and sent Xxxxxxx Xxxx, Xxxx 00000, or such other place as Landlord may hereafter designate in writing.
(f) Notwithstanding anything to the addresscontrary set forth in this Lease, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that each individual signing this Lease as Tenant shall be entitled to a grace period liable jointly and severally for all obligations of 5 days Tenant; provided, however, that the liability for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of each individual Tenant for Monthly Rent shall be considered a capped at an amount of $ per month plus any and all applicable fees associated with the rent payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant as outlined in this Leaselease agreement.
Appears in 1 contract
Samples: Residential Lease Agreement
Rent. 4.01 Tenant shall Lessee covenants to pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due to Lessor as a net minimum rent (the “Fixed Rent”) during the Lease Term $357,000.00 per annum for the principal of the Lease Term (collectively referred to as “Rent”)which precedes November 31, 2006, and $364,140.00 per annum from November 31, 2006 until November 31, 2007, and $371,422.80 per annum from November 31, 2007 until November 31, 2008, and $378,851.26 per annum from November 31, 2008 until November 31, 2009, and $386,428.29 per annum from November 31, 2009 through the remainder of the Lease Term. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional The Fixed Rent shall be due and payable in advance in equal monthly installments on the first day of each calendar month without notice or demandmonth. If the Lease Term does not commence on the first day of a month, provided that the installment of Base Fixed Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of in which the Term, and the Lease Term commences shall be appropriately apportioned. The first monthly installment of Additional Fixed Rent for Expenses and Taxes, shall be payable upon paid simultaneously with the execution of this Lease by TenantLease. All Each date on which Fixed Rent is payable hereunder is hereinafter referred to as a “Rent Payment Date”. Lessee also covenants to pay, from time to time as provided in this Lease, as Additional Rent: all other items amounts and obligations which Lessee assumes or agrees to pay under this Lease; interest at the rate of Rent shall be due ten percent per annum on such of the foregoing amounts and obligations as are payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 to Lessor and are not paid within ten days after billing the due date (or, if a demand therefor is required by Landlord. Rent shall be made payable to the entityterms of this Lease, and sent to within ten days after such demand), from the address, Landlord designates and shall be made by good and sufficient check due date or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”such demand, as the same case may be, until the payment thereof; and interest at the rate of ten percent per annum on all installments of Fixed Rent not paid on the due date, from the due date until paid. If Lessee fails to pay any such Additional Rent, Lessor shall have all the rights, powers and remedies provided for in this Lease or at law or in equity or otherwise in the case of nonpayment of rent. Additional Rent shall specifically include any and all utilities, whether paid directly to the providers or to Landlord, full amount of real estate taxes and any and all expenses incurred in connection with environmental issues relating to the Premises. All Fixed Rent and Additional Rent (collectively hereinafter referred to as “Rent”) shall be announced paid in such coin or currency (or, subject to collection, by good check payable in such coin or currency) of the United States of America as at the time shall be legal tender for the payment of public and private debts, at the office of Lessor as set forth above, or at such place and to such person as Lessor from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leasetime may designate.
Appears in 1 contract
Rent. 4.01 4.1 Tenant hereby agrees to pay Landlord the 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 “Monthly Rent”) shall be payable by check or by money order or by wire transfer or by Federal Reserve Automated Clearing House (ACH) deposit to an account as directed by Landlord by written notice to Tenant on or before the first day of each calendar month. Landlord agrees to accept payment by Federal Reserve Automated Clearing House (ACH) deposit only so long as such system is available for Landlord’s use. In addition to the Base Rent, Tenant also agrees to pay LandlordTenant’s Share of increases in Operating Expenses and Tenant’s Tax Share of increases in Taxes over the Base Year of 2018 (each as hereinafter defined), without and any setoff or deduction, unless expressly and all other sums of money as shall become due and payable by Tenant as set forth in this Lease, all Base Rent and of which shall constitute additional rent under this Lease (the “Additional Rent due for the Term (collectively referred to as “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 Base Rent, the Monthly Rent and the Additional Rent are sometimes hereinafter collectively called “Additional Rent” means all sums and shall be paid when due in lawful money of the 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 (exclusive of Base Rent5) days after written notice from Landlord that Tenant is required to pay Landlord under this Lease. such payment was not received when due, Tenant shall pay and be liable for all rental, sales and use taxes to Landlord a late charge (but excluding income taxesthe “Late Charge”), if anyas Additional Rent, imposed upon or measured by Rentin an amount of five percent (5%) of the amount of such late payment. Base Rent and recurring monthly charges of Additional Rent 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 the Rent Payable Upon Execution as payment of the first installment of Monthly Rent due and payable in advance hereunder.
4.4 If the Term commences on a date other than the first day of each a calendar month without notice or demandexpires or terminates on a date other than the last day of a calendar month, provided that the installment of Base Rent for any such partial month shall be prorated to the fourth actual number of days in such partial month.
4.5 All Rents and any other amount payable by Tenant to Landlord hereunder, if not paid within thirty (subject 30) days after its due date, shall bear interest from the date due until paid at a rate equal to Tenantthe prime commercial rate established from time to time by Bank of America, plus four percent (4%) per annum; but not in excess of the maximum legal rate permitted by law. Failure to charge or collect such interest in connection with any one (1) or more delinquent payments shall not constitute a waiver of Landlord’s right to receive Abated Base charge and collect such interest in connection with any other or similar or like delinquent payments.
4.6 If Tenant fails to make when due four (4) consecutive payments of Monthly Rent pursuant in any calendar year or makes three (3) consecutive payments of Monthly Rent in any calendar year which are returned to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease Landlord by Tenant. All other items ’s financial institution for insufficient funds, Landlord may require, by giving written notice to Tenant, that all future payments of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient in cashier’s check or by money order. The foregoing is in addition to any other means acceptable to Landlordremedy of Landlord hereunder, at law or in equity.
4.7 No Rent or other payment in respect of the Premises shall be based in any way upon net income or profits from the Premises. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to may not enter into or permit any sublease or license or other agreement in connection with the Premises which provides for a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a rental or other payment based on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement net income or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Leaseprofit.
Appears in 1 contract
Samples: Lease Agreement (Veritone, Inc.)
Rent. 4.01 A. Tenant shall pay Base Rent to Landlord in the manner provided in Section 5.B in equal consecutive monthly installments in advance on or before the 1st day of each calendar month commencing as of the Commencement Date and continuing through the Term. If the Term commences on a day other than the first day of a calendar month, or ends on a day other than the last day of a calendar month, Base Rent for such month shall be prorated by multiplying such Base Rent by a fraction, the numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be prorated pursuant to this Section 5.A, on the Commencement Date in connection with Landlord, without any setoff or deduction, unless expressly set forth in ’s acquisition of the Premises pursuant to the Purchase Agreement.
B. For purposes of this Lease, the Base Rent, the Real Estate Taxes, the Utility Charges and any and all Base Rent other amounts, sums, charges, liabilities and Additional Rent due obligations which Tenant assumes or agrees to pay or may become liable for the Term (under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. All Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff under any circumstances, in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time.
C. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within five (5) days of the date it is due for any reason, Tenant shall pay Landlord upon demand a late charge equal to the lesser of (i) seven percent (7%) of the delinquent installment of Rent and (ii) the highest amount allowed by applicable Law (each a “Late Charge”). “Additional Rent” means all sums The parties agree that this late charge represents a fair and reasonable estimate of the costs and expenses (exclusive of Base Rentincluding economic losses) that Landlord will incur by reason of late payment by Tenant. The parties further agree that such late charge is Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, any amount of delinquent Rent (including the amount of any Late Charge) due to Landlord shall accrue interest at the Default Rate from the date on which such Rent was due up to the date that such Rent is paid. The payment of such late charge or such interest shall not constitute waiver of, nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Without limitation of the foregoing, Tenant shall be responsible for payment of all interest, late charges, and other actual costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges that are the responsibility of Tenant hereunder.
D. For any non-scheduled payment of Rent hereunder that is required payable by Tenant on demand by Landlord, such shall be due ten (10) days following written demand therefor by Landlord, without abatement, deduction, or setoff under any circumstances.
E. Upon the Commencement Date, Tenant shall deposit with Landlord an amount equal to pay Landlord _________________________________ (the “Security Deposit”) to secure Tenant’s obligations under this Lease. Upon the earlier of the fifth (5th) anniversary of the Commencement Date and the termination of this Lease, the Security Deposit shall be returned to Tenant, less (i) any amounts required to repair any damages to the Premises, subject to normal wear and tear; and (ii) any unpaid and outstanding monetary obligations of Tenant under this Lease. Upon a monetary Event of Default and Tenant’s failure to cure same following expiration of the applicable notice and cure period, Landlord may use the Security Deposit to satisfy any such unpaid monetary obligation of Tenant, and Tenant shall, within five (5) Business Days following written notice from Landlord thereof, deposit with Landlord an amount sufficient to replenish the Security Deposit to the same amount as of the Commencement Date; provided, however, if the Security Deposit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Security Deposit in accordance with this Lease, then Landlord shall have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Tenant shall pay be permitted to deposit an irrevocable standby letter of credit in form and substance reasonably acceptable to Landlord (“Letter of Credit”) as the Security Deposit. Upon a monetary Event of Default and Tenant’s failure to cure same following expiration of the applicable notice and cure period, Landlord may draw on such Letter of Credit to satisfy any such unpaid monetary obligation of Tenant, and Tenant shall, within five (5) Business Days following written notice from Landlord thereof, deposit with Landlord a replacement Letter of Credit sufficient to replenish the Security Deposit to its original amount; provided, however, if the Letter of Credit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Letter of Credit in accordance with this Lease, then Landlord shall have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Any Letter of Credit posted by Tenant pursuant to this Lease shall be liable for all rentalissued (the following collectively, sales and use taxes the “LC Issuer Requirements”): (but excluding income taxesa) by a commercial bank with a net worth of at least Ten Billion Dollars ($10,000,000,000), if any(b) that is chartered under the laws of the United States, imposed any State thereof or the District of Columbia, and which is insured by the Federal Deposit Insurance Corporation, (c) whose long-term, unsecured and unsubordinated debt obligations are rated in the highest category by at least two of Fitch Ratings Ltd. (Fitch), Xxxxx’x Investors Service, Inc. (Moody’s) and Standard & Poor’s Ratings Services (S&P) (the “Rating Agencies”) or their respective successors (which shall mean A-from Fitch, A3 from Moody’s and A- from Standard & Poor’s), (d) which has a short term deposit rating in the highest category from at least two Rating Agencies (which shall mean F2 from Fitch, P-2 from Moody’s and A-2 from S&P), and (e) which is not insolvent and is not placed into receivership or conservatorship by the Federal Deposit Insurance Corporation, or any successor or similar entity, and for which no trustee, receiver or liquidator is appointed. If at any time following the delivery of the Letter of Credit by Tenant pursuant to this Section 5.E the LC Issuer Requirements are not satisfied, then Tenant shall, no later than ten (10) business days after the earlier of (i) Tenant acquiring knowledge that the LC Issuer Requirements are not satisfied and (ii) receipt of written notice thereof, deliver to Landlord either a replacement Letter of Credit which meets the LC Issuer Requirements or cash in the amount of the Security Deposit. If Tenant fails to deliver a replacement Letter of Credit from an institution that satisfies the LC Issuer Requirements or such cash Security Deposit to Landlord within such ten (10) business day period, Landlord, at its option, upon the delivery of written notice to Tenant may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit. It is Tenant’s responsibility to maintain and renew the Letter of Credit such that it is in effect at all times until the return of the Letter of Credit to Tenant in accordance herewith. Tenant shall renew such Letter of Credit no later than thirty (30) days prior to any expiration date thereof or measured by Rentreplace such Letter of Credit with a replacement Letter of Credit which otherwise meets the LC Issuer Requirements or with a cash Security Deposit. If Tenant has not renewed the Letter of Credit (and delivered the original of such renewal documentation to Landlord) or delivered a satisfactory replacement Letter of Credit or cash Security Deposit to Landlord at least thirty (30) days prior to the expiration date of the Letter of Credit, Landlord, at its option, may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit. Notwithstanding anything to the contrary contained herein, until the Lease is severed in accordance with Section 45, in the event Tenant believes in good faith that Tenant is entitled to receive insurance proceeds in accordance with Section 18 or condemnation proceeds in accordance with Section 19 and Landlord refuses, in violation of the terms hereof, to make such proceeds available to Tenant with respect to a Site, Tenant shall have the right to withhold Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on an amount up to the first day of each calendar month without notice or demand, provided that the installment of Allocated Base Rent for applicable to such Site until such dispute is resolved (and Landlord shall not have the fourth (subject to Tenant’s right to receive Abated draw against either the Security Deposit or Letter of Credit with respect to the Base Rent so withheld); provided that, (i) Tenant shall not be entitled to withhold Base Rent pursuant to Section 1.03 the foregoing for more than five (5) Sites at any given time, (ii) Tenant shall only be entitled to withhold Base Rent in an aggregate amount with respect to any such Site not to exceed the amount of this Leaseproceeds in dispute with respect to such Site, (iii) full calendar month upon resolution of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. such dispute Tenant shall pay to Landlord an administration fee equal the amount of Base Rent withheld in accordance with this paragraph plus, if Tenant was not entitled to 5% such proceeds, interest thereon calculated at the Default Rate, and (iv) the foregoing shall not (A) restrict Landlord’s right to draw against either the Security Deposit or Letter of all past due Rent, provided Credit with respect to (x) any amount of Base Rent that Tenant shall be entitled fails to a grace period pay in excess of 5 days for such disputed insurance proceeds or otherwise fails to pay other than in accordance with the first 2 late payments foregoing or (y) any other monetary Event of Default or (B) grant or imply any right to Tenant to withhold any Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent hereunder for any partial month during the Term shall be prorated. No endorsement other reason (and any such withholding or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant failure to pay Rent is independent when due shall be an Event of every other covenant Default in this Leaseaccordance with the terms and provisions hereof).
Appears in 1 contract
Samples: Agreement for Purchase and Sale of Real Property (Cracker Barrel Old Country Store, Inc)
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) third full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee equal to 5% in the amount of all past due Rent$250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum, and Tenant shall pay Landlord a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%)reasonable fee for any checks returned by Tenant’s bank for any reason. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest oldest obligation due from Tenant hereunder, then to any current Rent duethen due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 1 contract
Rent. 4.01 (a) Tenant shall pay Landlordto Landlord throughout the term of this Lease rent as specified in the Basic Lease Information, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring payable monthly charges of Additional Rent shall be due and payable in advance on or before the first day of each month during the term hereby demised in lawful money of the United States, without demand, deduction or offset whatsoever, to Landlord at the address specified in the Basic Lease Information or to such other firm or to such other place as Landlord may from time to time designate in writing. Said rental is subject to adjustment as provided in Paragraph 27 hereof. If this Lease commences on a day other than the first day of a calendar month without notice or demandends on a day other than the last day of a calendar month, provided that the installment of Base Rent monthly rental for the fourth fractional month shall be appropriately prorated.
(subject b) Xxxxxx agrees that if rent or any other payment due hereunder from Tenant to Tenant’s right Landlord remains unpaid ten (10) days after said amount is due, the amount of such unpaid rent or other payment shall be increased by a late charge to receive Abated Base Rent be paid to Landlord by Tenant in an amount equal to five percent (5%) of the amount of the delinquent rent or other payment). The amount of the late charge to be paid to Landlord by Tenant for any month shall be computed on the aggregate amount of delinquent rents and other payments, including all accrued late charges then outstanding. Tenant agrees that such amount is a reasonable estimate of the loss and expense to be suffered by Landlord as a result of such late payment by Xxxxxx and may be charged by Landlord to defray such loss and expense. The provisions of this paragraph in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this paragraph in any way affect Xxxxxxxx's remedies pursuant to Section 1.03 of this Lease) full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution Paragraph 19 of this Lease by Tenant. All in the event said rent or other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264payment is unpaid after the date due.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
Appears in 1 contract
Samples: Lease Agreement (Clientlink Inc)
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the later of (a) May 1, 2020, and be liable for all rental(b) one (1) calendar month after the Term Commencement Date if the Term Commencement Date occurs after March 31, sales and use taxes 2020 (but excluding income taxessuch later date, the “Rent Commencement Date”), if anythe sums set forth in Section 2.3, imposed upon or measured by Rentsubject to the rental adjustments provided in Article 8 hereof. Base Rent and recurring monthly charges of Additional Rent shall be due and payable 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 without notice or demandduring the Term.
7.2. In addition to Base Rent, provided that the installment of Base Rent for the fourth Tenant shall pay to Landlord as additional rent (subject to “Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 Adjusted Share (as defined below) of this LeaseOperating Expenses (as defined below), (b) full calendar month of the TermProperty Management Fee (as defined below), and (c) any other amounts that Tenant assumes or agrees to pay under the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution 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. All other items of {A0622646.2 } 7
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be due and payable by Tenant 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 or {QuinStreeta day other than the first day of a calendar month, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. then the Rent for such fraction of a month shall be made payable to prorated for such period on the entity, and sent to basis of the address, Landlord designates number of days in the month and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days paid at the then-current rate for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfactionsuch fractional month.
7.4. Tenant’s covenant obligation to pay Rent is independent 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 every other covenant 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 Leasesentence shall in any way affect Tenant’s obligations with respect to any other period.
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Rent. 4.01 Tenant (a) Lessee shall pay Landlordto Lessor, at Lessor's address for notice hereinafter set forth or at such other place as Lessor may specify, without any setoff right of set-off or deductiondeduction and without any prior notice of demand, unless expressly set forth in this Lease, all the Base Rent and Additional Rent due of $33,333.33 for each month during the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive term of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable monthly in advance advance, beginning on the Commencement Date and continuing on the first day of each calendar month without notice or demandthereafter throughout the term of this Lease. If the Commencement Date is other than the first day of a month, provided that the amount of Base Rent payable on the Commencement Date shall be one-thirtieth (1/30) of the monthly Base Rent for each day prior to the first day of the next month, and, if the term of this Lease terminates other than on the last day of a month, the amount of the final installment of Base Rent shall be one-thirtieth (1/30) of the monthly Base Rent for each day then remaining in the Lease term. Base Rent not paid when due shall bear interest at the rate of twelve percent (12%) per annum from the date due until paid.
(b) For purposes of this subparagraph (b), the term "Price Index" shall mean "The Consumer Price Index for all Urban Consumers, All Items (1982-84 = 100)", issued by the Bureau of Labor Statistics of the United States Department of Labor and the term "Base Price Index" shall mean the Price Index for October, 2001. From and after October 30, 2006 (the "Additional Rent Commencement Date"), in addition to the Base Rent, Lessee shall pay monthly to Lessor during each Lease Year beginning on and after the Additional Rent Commencement Date an amount ("Additional Rent") computed by multiplying the Base Rent by the percentage, if any, by which the Price Index, as published for the fourth (subject last month preceding the Additional Rent Commencement Date, shall exceed the Base Price Index. If the Price Index for such last month is not available until the lapse of one or more months, an estimated amount of Additional Rent shall be determined using the monthly Price Index most recently available. The first such monthly payment or payments of Additional Rent after the availability of the required Price Index shall be adjusted to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 compensate for any overpayment or underpayment which occurred as a result of such estimated payment. The Price Index published for the last month of any Lease Year shall, for purposes of this Leaseparagraph, be deemed to be no lower than the Base Price Index. If the Price Index ceases to use the 1982-84 average equaling 100 as the basis of calculation, or if a change is made in the term or number of items contained in the Price Index, or if the Price Index is altered, modified, converted or revised in any other way, then the Price Index shall be adjusted to the figure that would have been arrived at had the change in the manner of computing the Price Index in effect at the date of this Lease not been altered. If the Price Index shall no longer be published by said Bureau, then any substitute or successor index published by said Bureau or other governmental agency of the United States, and similarly adjusted as aforesaid, shall be used. If the Price Index (or a successor or substitute index similarly adjusted) full calendar is not available, a reliable governmental or reputable publication selected by Lessor and evaluating the information theretofore used in determining the Price Index shall be used. Additional Rent shall be recalculated in accordance with this Section 4 upon the beginning of the first and second renewal terms under Section 3 using the last month of the Term, and Lease Year prior to the beginning of the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264second renewal terms respectively in such calculation.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
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Samples: Lease (Ashworth Inc)
Rent. 4.01 Tenant (a) During the Interim Term and the first five (5) years of the Primary Term, Lessee shall pay Landlord, without any setoff or deduction, unless expressly the amounts set forth in this LeaseSchedule B and thereafter during the Primary Term and any Extended Term, all Base Rent and Additional Rent due for the Term CPI Rentals (collectively referred to as defined herein) (“Basic Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Basic Rent shall be due and paid by wire transfer as directed by Lessor, or to such other person as Lessor from time to time may designate. Lessor shall give Lessee not less than 15 days’ notice of any change in the account or the address to which such payments are to be made. Such annual rentals shall be payable in equal monthly installments in advance on the first day of each calendar month. Any rental payment made in respect of a period which is less than one month shall be prorated by multiplying the then applicable monthly rental by a fraction the numerator of which is the number of days in such 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 obligations under this Lease at its sole cost and expense and shall pay all Basic Rent, additional rent and any other sum due hereunder when due and payable, without notice or demand, provided . Lessor and Lessee hereby acknowledge and agree that neither an increase nor a decrease in the installment square footage of Base leased space contained within the Premises shall affect the amount of Basic Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent be paid by Lessee pursuant to Section 1.03 the terms of this Lease
(b) full calendar The CPI Rentals, subject to the maximum contained in this Section 1.05(b), shall be calculated pursuant to the following Rental Adjustment Formula: Beginning with the sixth year of the Primary Term and on the first day of each year thereafter during the Lease Term (such dates each being an “Adjustment Date”), Basic Rent shall be increased by an amount equal to the “Rent Adjustment.” The Rent Adjustment shall be an amount equal to the product of (i) the percentage change (the “Percentage Change”) between the Price Index (as defined below) published for the month occurring two months prior to the month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or {QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account commencement of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.fifth year of
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Samples: Purchase and Sale Agreement (Pulaski Financial Corp)
Rent. 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease4.1. Tenant shall pay and be liable to Landlord, without notice, demand, or deduction in lawful money of the United States of America, at Landlord's Address for all rentalNotices in Section 33.9, sales and use taxes or at such other place as Landlord shall designate in writing from time to time: (but excluding income taxes), if any, imposed upon or measured by Rent. a) the Base Rent and recurring in equal monthly charges of Additional Rent shall be due and payable installments, in advance advance, on or before the first day of each calendar month without notice or demandduring the Term; and (b) the Additional Rent, provided that at the respective times required hereunder. The first monthly installment of Base Rent shall be paid in advance on the date Tenant executes this Lease and applied to the first installment of Base Rent coming due under this Lease. Payment of Rent shall begin on the Commencement Date; provided; however, that if either the Commencement Date or the expiration of the Term falls on a date other than the first day of a calendar month, the Rent due for such fractional month shall be prorated on a per diem basis between Landlord and Tenant so as to charge Tenant only for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 portion of this Lease) full calendar such fractional month of falling within the Term. Tenant's covenant to pay Rent hereunder is independent of any other covenant, and the first monthly installment of Additional Rent for Expenses and Taxescondition, shall be payable upon the execution of this Lease by Tenantprovision or agreement herein contained. All other items past due installments of Rent shall be subject to a late charge of five percent (5%) simple of the past due and payable by Tenant on or {QuinStreet, Inc. -6-00004264amounts.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord
4.2. The Base Rent shall be made payable to escalated as specified in Section 1(L) of this Lease commencing on the entityfirst day of the first full month following the first anniversary of the Commencement Date (or on the first anniversary date of the Commencement Date, if the Commencement Date is the first day of the month), and sent to the address, Landlord designates on each and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% every anniversary of all past due Rent, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month such escalation date thereafter during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.
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Samples: Lease Agreement (Quixote Corp)