Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 2 contracts
Samples: Sublease Agreement (Voyager Learning CO), Office Lease (Proquest Co)
Rent. A. Tenant covenants to shall pay to Landlord as the base rent for the Premises (the “Base Rent”) the amount set forth in Section 1, 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 Lease Termstart of an Operating Period, without any setoff or deduction except as otherwise expressly provided herein, then Tenant shall continue to pay the full monthly amount of all Base Rent and its Additional Rent due hereunder for the prior Operating Period and on the full amount 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 all such other sums the Effective Date of money as shall become due under this Lease, all Landlord’s estimate is that the amount that will be due as Additional Rent hereunder for the year in which the Commencement Date occurs will be $18.80 per RSF of which hereinafter may be collectively called “Rent.” In additionthe 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 pay, remit 1/12th of this amount to Landlord monthly as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with at the same time and in the same manner as Tenant’s monthly payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 LeaseRent.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 2 contracts
Samples: Lease Agreement (Upland Software, Inc.), Lease Agreement (Upland Software, Inc.)
Rent. A. On the date that Tenant covenants executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Base Rent (which shall be applied against the Rent payable for the first month Tenant is required to pay Base Rent), and all insurance certificates or, alternatively, the letter required pursuant to Landlord during Section 12.5 hereof, evidencing the insurance required to be obtained by Tenant under Section 12 of this Lease Termand under the provisions of Exhibit B hereto. Tenant agrees to pay Landlord, without any setoff prior notice or deduction demand, or abatement (except as otherwise expressly provided hereinset forth in Sections 27 and 41 hereof), offset, deduction or claim, the full amount of all Base Rent described on Page 1, payable in advance at Landlord's address shown on Page 1 on the Commencement Date and Additional thereafter on the first (1st) day of each month throughout the Term of the Lease. In addition to the Base Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additionset forth on Page 1, Tenant shall paypay Landlord in advance, on the Commencement Date and thereafter on the first (1st) day of each month throughout the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises to conduct business operations therein without requiring Tenant to pay rental payments for a period of time, sales the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to Tenant shall otherwise perform all other payments obligations of Tenant required to hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be paid to Landlord by Tenant under this Leasea prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. Such payments The prorated Rent shall be paid concurrently with on the payments of the Rent on which the tax is based. Base Rent Commencement Date and 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 the calendar month during in which the Lease Termdate of termination occurs, without demand. If as the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 Leasecase may be.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 2 contracts
Samples: Lease Agreement (Cisco Systems Inc), Lease Agreement (Cisco Systems Inc)
Rent. A. 4.01. Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount 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 such other sums (exclusive of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. 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 without notice or demand, provided that the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments installment of Base Rent (if any) for the first full calendar month of the Term, and the first monthly installment of Additional Rent (if any) 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 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 in the amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 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 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 oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month or months during the Term shall be prorated, based . No endorsement or statement on the number of days in such month. All amounts received by Landlord from Tenant hereunder a check or letter accompanying payment shall be applied first to the earliest accrued considered an accord and unpaid Rent then outstandingsatisfaction. Except as specifically set forth in this Lease, Tenant’s covenant to pay Rent shall be is independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 2 contracts
Samples: Office Lease Agreement (Akebia Therapeutics, Inc.), Office Lease Agreement (Akebia Therapeutics, Inc.)
Rent. A. 4.01 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent (as hereinafter defined) due hereunder and for the full amount of all such other sums of money Term (collectively referred to as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based”). Base Rent and Additional 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 each calendar year or any portion thereof during of a month at the Lease 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 in monthly installments on the first day of each calendar month during the Lease Term, without notice or demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first Unless otherwise specified herein to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay contrary, all other items of Rent shall be independent of every other covenant set forth in this Lease.
B. If due and payable by Tenant fails to pay any installment of Base Rent and Additional Rent on or any other item of Rent within ten before thirty (1030) days after billing by Landlord. Rent shall be made payable to the same becomes due entity, and payable hereundersent to the address, Landlord otherwise designates and shall be made by good and sufficient check drawn on a “Late Charge” local bank or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to five percent (5%) of such unpaid all past due Rent, provided that Tenant shall be entitled to a grace period of five (5) days for the first two (2) late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum or the maximum rate permitted by law, whichever is less. Landlord’s acceptance of less than the correct amount will of Rent shall be due 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 payable with the next installment satisfaction. Tenant’s covenant to pay Rent is independent of Base Rent by Tenant to Landlordevery other covenant in this Lease.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (Loxo Oncology, Inc.)
Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid, provided, Tenant shall be entitled to a grace period of three (3) days after notice from Landlord with respect to the first two (2) late payments in any calendar year. In addition, if Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes when due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent immediately by Tenant to Landlord, provided, Tenant shall be entitled to a grace period of three (3) days after notice from Landlord with respect to the first two (2) late payments in any calendar year.
Appears in 2 contracts
Samples: Office Lease Agreement (Lpath, Inc), Office Lease (Enernoc Inc)
Rent. A. (a) Tenant covenants to shall pay to Landlord as rental for the Premises during each year of the term of this Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be set forth in addition to all other payments required to be paid to Landlord by Tenant under this LeaseSection 1(g) hereof. Such payments rental shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance advance, in equal monthly installments on upon the first day of each calendar and every month during throughout the Lease Termterm of this Lease; provided, without demand. If however, that if the Lease Term commences lease term shall commence on a day other than the first day of a calendar month or terminates shall end on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) rental for such first or last fractional month or months shall be prorated, based on such proportion of the monthly rental as the number of days in such fractional month bears to the total number of days in the calendar month. All amounts received by Landlord from Tenant .
(b) Rent and all other charges hereunder shall promptly be applied first to the earliest accrued paid without prior demand therefor and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay without deductions or setoffs for any installment of Base Rent reason whatsoever, except as expressly herein provided, and Additional Rent or overdue rent and any other item sums payable by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of Rent within ten interest equal to two percent in excess of the “Prime Rate” published from time to time by The Wall Street Journal (10) days after hereinafter referred to as the same becomes “Interest Rate”). 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 of each late payment. Landlord shall have no obligation to accept less than the full amount of all installments of rental and interest thereon and all charges hereunder which are due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent 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 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 immediately available funds, or (iii) electronic funds transfer.
Appears in 2 contracts
Samples: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Rent. A. (a) Tenant covenants to shall pay to 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 first 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 abatement, deduction or set-off, for each month of the entire Term, except as expressly set forth herein. One such monthly installment, shall be payable by Tenant to Landlord upon the execution of this Lease. A like monthly installment shall be due and payable 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 before the 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 prorated based on one-three hundred sixty-fifth (1/365) of the current annual Basic Rental for each day of the partial month this Lease is in effect, without any setoff and shall be due and payable on or deduction except as otherwise expressly provided hereinbefore the first day of the calendar month immediately following the month in which the Commencement Date occurs.
(b) During the Term of this Lease, the full amount Basic Rental shall be increased at the beginning of each lease year as shown in the Basic Lease Terms above. 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 Base Rent and Additional Rent due hereunder and the full amount purposes of this Lease.
(c) If all such other sums of money as shall become any sum due under this LeaseLease is not received within five (5) days after written notice from Landlord that it is due, then Tenant, to the extent permitted by law, shall pay, in addition to the sum owed, a late payment charge equal to ten percent (10%) 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 ten percent (10%) 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 certified check or money order. Also, if Landlord does not receive any Adjusted Rental or fails to pay any sum (other than Adjusted Rental) which at any time becomes due to Landlord under any provision of which hereinafter may be collectively called “Rent.” In additionthis Lease as and when the same becomes due hereunder, then, in either such event, Tenant shall paypay Landlord interest on such overdue amounts from the due date thereof until paid at a eighteen percent (18%) annual rate (the “Past Due Rate”). 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, as Additional Rent, all rent, sales and use taxes interest or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to fee for dishonor shall be in addition to all other payments required to be paid rights and remedies available to Landlord by Tenant hereunder or at law or in equity and shall not be construed as liquidated damages or limiting Landlord’s remedies in any manner and shall not excuse or cure the default in payment.
(d) Tenant’s covenants and obligations to pay Adjusted Rental and all additional rental (collectively, the “Rent”) hereunder are unconditional and independent of any other covenant or condition imposed on either Landlord or Tenant, whether under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year , at law 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 Leaseequity.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 2 contracts
Samples: Office Building Lease Agreement (Vivint Solar, Inc.), Office Building Lease Agreement (Vivint Solar, Inc.)
Rent. A. Except as otherwise expressly set forth in this Lease, Tenant covenants agrees to pay to Landlord during at the Lease Termfirst office specified in Section 1.01 (2), or to such other persons, or at such other places, designated by Landlord, without any setoff prior demand therefor in immediately available funds and without any deduction or deduction offset whatsoever, except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under set forth in this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, Rent during the Term as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments when due pursuant to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments Monthly Base Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable monthly in advance in monthly installments on the first day of each calendar month during of the Lease Term, without demandexcept that the installment of Monthly Base Rent for any partial month at the beginning of the Term shall be paid prior to the Commencement Date and the installment of Monthly Base Rent due for the sixth (6th) month of the Term shall be paid by Tenant to Landlord within thirty (30) days following the Date of this Lease. If Monthly Base Rent shall be prorated for partial months within the Lease Term commences on a Term. Unpaid Rent shall bear interest at the Default Rate from the date due until paid provided, however, that Tenant shall be entitled to notice and an additional three (3) business day other than grace period before the imposition of Default Interest the first day of a month or terminates on a day other than the last day of a month, then the installments of Base time in any calendar year that Tenant does not timely pay Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstandinghereunder. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. . Notwithstanding the foregoing, Tenant’s obligation to pay Rent shall be conditionally abated during the first five (5) full calendar months of the Term (the “Rent Abatement Period”) in an amount not to exceed $958,013.75. Such abatement shall apply to Rent only and shall not apply to any other sums payable under this Lease. The abatement of Rent described above is expressly conditioned on Tenant’s performance of its obligations under this Lease throughout the Term, and the amount of the abated Rent is based in part on the amount of Rent due under this Lease for the full Term. If Tenant fails Defaults under this Lease and such Default continues beyond the applicable notice and cure period, then Tenant shall immediately, on demand, pay to pay any installment of Base Rent Landlord, in addition to all other amounts and Additional Rent or any other item damages to which Landlord is entitled, the unamortized amount of Rent within ten (10) days after the same becomes which would otherwise have been due and payable hereunder, a “Late Charge” equal to five percent during the Rent Abatement Period (5%) based on the straight-line amortization of such unpaid amount will be due and payable with the next installment abated Rent across the initial Term plus interest at the rate of Base Rent by Tenant to Landlord8% per annum).
Appears in 2 contracts
Samples: Office Lease (Accolade, Inc.), Office Lease (Accolade, Inc.)
Rent. A. 4.01 From and after the Commencement Date, Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of all such other sums of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. 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 or demand. If the Lease Term commences on a day All other than the first day items of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant on or before thirty (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 designated by Landlord from time to time. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of $500.00, provided that Tenant shall be entitled to a grace period of up to five (5) days for the first late 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 twelve percent (12%) 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 oldest obligation due from Tenant hereunder, then to any current Rent then 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 obligation so to pay Rent 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 constructive eviction to any action seeking to recover Rent.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (scPharmaceuticals Inc.)
Rent. A. Tenant covenants to Tenants shall pay to Landlord as rent for the premises during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, term of this lease the full amount sum of all Base $ . Said rent shall be payable pursuant to the Rent and Additional Rent due hereunder and the full amount Schedule which is a part of all such other sums of money as shall become due under this Lease. Rents will be considered as paid on the date they are actually received by the Landlord. Tenants will pay a late charge equal to 5% of the rental payment due to 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, all in addition thereto, interest shall accrue at the rate of which hereinafter may 15% thereafter. There shall also be collectively called “Rent.” In additiona return check handling fee of $50, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on previously described charges which the tax is basedshall also apply. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first As to the earliest accrued Delinquency Charge, the parties acknowledge that this is part of liquidated damages since the exact amount of damages as a result of late payment is uncertain and unpaid Rent then outstandingdifficult to prove and this is a reasonable solution. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this LeaseTHE FAILURE TO TIMELY PAY A RENTAL PAYMENT AS SET FORTH IN THIS LEASE SHALL BE GROUNDS FOR THE TERMINATION OF THIS LEASE. LANDLORD 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. TENANTS 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.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Rent. A. (a) Each Lease Year (as hereinafter defined), Tenant covenants to shall pay to Landlord during the Lease TermBase Rent, without any setoff or deduction deductions of any kind (except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under set forth in this Lease), all of which hereinafter may be collectively called “Rent.” In additionin equal monthly installments, Tenant shall payin advance, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 of the Lease TermTerm at the address of Landlord stated above or such other place as Landlord may designate in writing from time to time, without demand. If the Lease Term commences on with payment in advance of appropriate fractions of a day other than the first day monthly payment for any portion of a month or terminates on a day other than at the last day commencement and termination of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such monthTerm. All amounts received Every amount payable by Tenant to 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 (except as otherwise set forth in this Lease.
B. If Tenant fails to pay ) be paid without setoff or deductions of any installment of kind on demand. Base Rent and Additional Rent or any other item of are herein collectively called “Rent”. Any Rent not paid by Tenant within ten (10) days after the same becomes its due and date shall thereafter be payable hereunder, with a “Late Charge” late charge equal to five percent (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 unpaid amount will be due 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 payable shall end with the expiration of the next installment succeeding twelve (12) months, plus the number of Base Rent by Tenant days, if any, required to Landlordhave 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. A. Tenant covenants to shall pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and (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 full amount 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 such other sums of money as shall become due under this Leaseobligations. As used herein, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent” means all amounts, all rentother than Base Rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments that Tenant is required to be paid to pay Landlord by Tenant under this Leasehereunder. Such Monthly payments of Base Rent and monthly 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 paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on or before the first day of each calendar month during the Lease Term; provided, without demand. If however, that the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments installment of Base Rent (if any) for the first full calendar month for which Base Rent is payable hereunder shall be paid upon Tenant’s execution and delivery hereof. Except as otherwise provided herein, all other items of Additional Rent (if any) for such month or months shall be prorated, paid within 30 days after Landlord’s request for payment. Rent for any partial calendar month shall be prorated based on the actual number of days in such month. All amounts Without limiting Landlord’s other rights or remedies, (a) if any installment of Rent is not received by Landlord or its designee within five (5) business days after its due date, Tenant shall pay Landlord a late charge equal to 5% of the overdue amount (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 hereunder previously received notice from Landlord of a delinquency that occurred earlier in the same calendar year); and (b) any Rent that is not paid within 10 days after its due date shall be applied first to bear interest, from its due date until paid, at the earliest accrued and unpaid Rent then outstandinglesser of 18% per annum or the highest rate permitted by Law (defined in Section 5). Tenant’s covenant to pay Rent shall be is independent of every other covenant set forth in this Leaseherein.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 2 contracts
Samples: Office Lease (Apigee Corp), Office Lease (Apigee Corp)
Rent. A. Tenant covenants to 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 during may from time to time designate in writing to Tenant for the Lease Termpayment of Rent, the Base Rent, without any setoff notice, demand, offset or deduction except as otherwise expressly provided hereindeduction, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leasein advance, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 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 from Landlord. It is intended that this Lease be a "triple net lease," and that the Rent 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 contrary in this Lease, 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 Termor the ownership, without demandconstruction, maintenance, operation or repair of the Premises or the Project Upon the execution of this Lease, Tenant shall pay to Landlord the first month's Base Rent. If the Lease Term commences (or ends) on a day date other than the first day of a month (or terminates on a day other than the last last) day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based prorated on the number basis of days in such a thirty (30) day month. All amounts received by Landlord from sums other than Base Rent which Tenant hereunder is obligated to pay under this Lease shall be applied first deemed 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. If Tenant fails to pay any installment of Base Rent and additional rent due hereunder ("Additional Rent"), whether or not such sums are designated Additional Rent or any other item of Rent within ten (10) days after and, together with the same becomes due and payable hereunderBase Rent, a “Late Charge” equal to five percent (5%) of such unpaid amount will shall be due and payable with to Landlord commencing on the next installment of Possession Date. The term "Rent" means the Base Rent by Tenant to Landlordand all Additional Rent payable hereunder.
Appears in 2 contracts
Samples: Multi Tenant Industrial Triple Net Lease (Brooks Automation Inc), Multi Tenant Industrial Triple Net Lease (Brooks Automation Inc)
Rent. A. Tenant covenants to pay to Landlord Commencing upon the Ground Lease Commencement Date, 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 (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 TermCommencement Date through the date five years thereafter, without 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 setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due payment under this Lease, all of which Ground Lease shall hereinafter may be collectively called referred to as a “RentCPI Adjustment.” In additionSuch 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, Tenant however, that: (x) the first payment of Rent shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxesbe on the Ground Lease Commencement Date and, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax Ground Lease Commencement Date is based. Base Rent and 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 demand. If the Lease Term commences on a day date other than the first day of the month, the first payment of Rent shall be in a prorated amount for the period of time between the Ground Lease Commencement Date and the next following first day of the month; (y) the first payment of Rent due upon the commencement of any new Adjustment Period will be owed and paid one month or terminates on after the commencement of that Adjustment Period in order to permit the Tenant to calculate the CPI Percentage Increase, as set forth below; and (z) the last payment of Rent shall be in a prorated amount for the period of time between the immediately preceding first day other than of the month and the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 LeaseTerm.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 2 contracts
Samples: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)
Rent. A. On the Commencement Date, in connection with Landlord’s acquisition of the Premises pursuant to the Purchase Agreement, Tenant covenants to shall pay to Landlord during the Lease Termsum of [*], without any setoff or deduction except as otherwise expressly provided herein, an amount equal to the full amount of all Base Rent and Additional for the first (1st) year of the Term.
B. On the first (1st) anniversary of the Commencement Date (the “Monthly Base Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additionCommencement Date”), Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments commence to be in addition to all other payments required to be paid pay Base Rent to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with in the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable manner provided in Section 5.C in equal consecutive monthly installments in advance in monthly installments on or before the first 1st day of each calendar month during commencing as of such date and continuing through the Lease Term, without demand. If the Lease Term commences on Monthly Base Rent Commencement Date is a day other than the first day of a month calendar month, or terminates if the Term ends on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be proratedprorated by multiplying such Base Rent by a fraction, based on the numerator of which is the number of days in of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. All amounts received by Landlord from Tenant hereunder shall pay its first monthly installment of Base Rent, which may be applied first prorated pursuant to this Section 5.B, on or before the earliest accrued Monthly Base Rent Commencement Date.
C. For purposes of this Lease, the Base Rent, the Real Estate Taxes, the Utility Charges and unpaid Rent then outstanding. Tenant’s covenant any and all other amounts, sums, charges, liabilities and obligations which Tenant assumes or agrees to pay Rent shall be independent or may become liable for under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the event of every other covenant set forth in this Lease.
B. If any failure on the part of Tenant fails 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 Base 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 Additional (ii) the highest amount allowed by applicable Law (each a “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 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 item rights and remedies available to Landlord. Without limitation of the foregoing, Tenant shall be responsible for payment 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 that are the responsibility of Tenant hereunder.
E. For any non-scheduled payment of Rent within hereunder that is payable by Tenant on demand by Landlord, such shall be due ten (10) days after the same becomes due and payable hereunderfollowing written demand therefor by Landlord, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordwithout abatement, deduction, or setoff under any circumstances.
Appears in 2 contracts
Samples: Lease Agreement (Big Lots Inc), Lease Agreement (Big Lots Inc)
Rent. A. Tenant covenants to shall timely pay to Landlord during Rent (as defined in the Basic Lease TermInformation), including Base Rent and the amounts set forth in Exhibit B hereto, without any setoff notice, demand, deduction or deduction set-off (except as otherwise expressly provided herein), the full amount by good and sufficient check drawn on a national banking association at Landlord’s address provided for in this Lease or as otherwise specified by Landlord and shall be accompanied by all applicable state and local rental, transaction privilege, sales or use taxes. The obligations of all Tenant to pay Base Rent (as defined in the Basic Lease Information) and Additional Rent due hereunder other sums to Landlord and the full amount obligations of all such other sums of money as shall become due Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Lease are independent obligations. Base Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Termadjusted as herein provided, shall be due and payable monthly in advance in advance. The monthly installments installment of Base Rent payable under this Lease for the sixth (6th) full calendar month of the Term shall be payable contemporaneously with the execution of this Lease; thereafter, Base Rent shall be payable on or before the first (1st) day of each calendar month during the Lease Term, without demand. If The monthly Base Rent payable for the Lease Term commences on a day other than remainder of any calendar month in which the first day Rent Abatement expires shall equal the product of 1/365 (or in the event of a month or terminates on a day other than leap year, 1/366) of the last day of a month, then the installments of annual Base Rent (if any) and Additional Rent (if any) for in effect during such month or months shall be prorated, based on and the number of days remaining in such month. All amounts received by Landlord from Tenant hereunder month after the expiration of the Rent Abatement, and shall be applied first to due on the earliest accrued and unpaid date that the Rent then outstandingAbatement expires. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment Payments of Base Rent for any fractional calendar month at the end of the Term shall be similarly prorated. Tenant shall pay Operating Costs, Taxes and Additional Rent or any other item of Rent within ten Insurance (10each as defined in Exhibit B) days after at the same becomes due time and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with in the next installment of same manner as Base Rent by Tenant to LandlordRent.
Appears in 2 contracts
Samples: Office Lease Agreement (Dermavant Sciences LTD), Office Lease Agreement (Dermavant Sciences LTD)
Rent. A. 7.1. Tenant covenants to shall pay to Landlord as Base Rent for the Premises, commencing on (a) with respect to the Original Premises, July 1, 2015 (the “Rent Commencement Date”) and (b) with respect to the Expansion Space, twelve (12) months following the Term Commencement Date (the “Expansion Space Rent Commencement Date”), the sums set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all .
7.2. In addition to Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined below) of Operating Expenses (as defined below), including the Property Management Fee (as defined below) and (b) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all rentother sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, sales terms, covenants and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments conditions of this Lease to be in addition to all other payments required to be paid to Landlord performed by Tenant under this Lease. Such payments shall be paid concurrently with Tenant, after notice and the payments lapse of the Rent on which the tax is basedany applicable cure periods.
7.3. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall together be denominated “Rent.” Rent shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Termpaid to Landlord, without demandabatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. If In the Lease event the Term commences or ends on a day other than the first day of a month or terminates on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) for such fraction of a month or months shall be prorated, based prorated for such period on the basis of the number of days in such month. All amounts received by Landlord from Tenant hereunder the month and shall be applied first to paid at the earliest accrued and unpaid Rent then outstandingthen-current rate for such fractional month.
7.4. Except as otherwise expressly set forth herein, Tenant’s covenant obligation to pay Rent shall not be independent 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 in all events 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 set forth 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.
B. If 7.5. Upon the occurrence of any Default by Tenant fails to pay any installment under this Lease, the abatement of Base Rent provided herein shall automatically and Additional forever terminate, and Tenant shall be required to pay the full Base Rent or any other item of Rent within ten (10) days provided herein from and after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordTerm Commencement Date without any abatement whatsoever.
Appears in 2 contracts
Samples: Lease Agreement (Spark Therapeutics, Inc.), Lease Agreement (Spark Therapeutics, Inc.)
Rent. A. 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 pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinperiod defined in the next sentence below), the full amount of all Base Basic Rent shall be divided into four (4) equal portions and Additional each portion will be paid quarterly in advance on each Rent due hereunder Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition 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 all Outgoings, VAT and any and all other payments taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease.
7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the 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 basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by 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 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 account in Germany, then such excess cost shall be borne by Landlord.
7.5 Any payments from the Tenant to the Landlord by Tenant under this Lease. Such payments Lease (including the payment of the Basic Rent) shall be paid concurrently with made against Invoices issued by the payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 2 contracts
Samples: Lease Agreement (Corporate Property Associates 17 - Global INC), Lease Agreement (Corporate Property Associates 17 - Global INC)
Rent. A. (a) Tenant covenants to shall pay to Landlord as rental for the Premises during each year of the term of this Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be set forth in addition to all other payments required to be paid to Landlord by Tenant under this LeaseSection 1(g) hereof. Such payments rental shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance advance, in equal monthly installments on upon the first day of each calendar and every month during throughout the Lease Termterm of this Lease; provided, without demand. If however, that if the Lease Term commences lease term shall commence on a day other than the first day of a calendar month or terminates shall end on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) rental for such first or last fractional month or months shall be prorated, based on such proportion of the monthly rental as the number of days in such fractional month bears to the total number of days in the calendar month. All amounts received by Landlord from Tenant .
(b) Rent and all other charges hereunder shall promptly be applied first paid without prior demand therefor and without deductions or setoffs for any reason whatsoever, except as expressly herein provided, and overdue rent and any other sums payable by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of interest equal to two percent (2%) in excess of the earliest accrued “Prime Rate” published from time to time by The Wall Street Journal (hereinafter referred to as the “Interest Rate”). In addition, if any payment of rent is not paid when due, Tenant shall pay to Landlord a late charge equal to three and unpaid Rent then outstandingone half percent (3.5%) of each late payment. Landlord shall have no obligation to accept less than the full amount of 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 covenant obligations at Xxxxxxxx’s discretion. Notwithstanding the foregoing, Tenant shall not be required to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails the late charge or the interest provided for therein on up to pay any installment of Base Rent and Additional Rent or any other item of Rent 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 becomes due and payable hereunder, are past due.
(c) Landlord’s failure to timely xxxx Xxxxxx shall in no way excuse Tenant from its payment obligations or constitute a “Late Charge” equal waiver of Landlord’s entitlement to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent any charges not timely billed by Tenant to Landlord.
(d) Xxxxxx agrees that all Basic Rental and additional rent (collectively “Rent”) due under this Lease shall be 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 immediately available funds, or (iii) electronic funds transfer.
Appears in 2 contracts
Samples: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Rent. A. 2.1 Tenant covenants to shall pay to Landlord during all sums due hereunder from time to time from the Lease TermCommencement Date without prior demand, without any setoff or deduction together with all applicable Florida sales tax thereon; however, unless otherwise provided in this Lease, 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 expressly provided herein, the full amount of all in this Lease. All other charges other than Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments that are required to be paid by Tenant to Landlord by Tenant under this Lease. Such payments Lease shall be paid concurrently with the payments of the Rent on which the tax is basedconstitute Additional Rent. Base Rent and Additional Rent (Base Rent and Additional Rent are collectively referred to as "Rent"), for each calendar year 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. Rent payable for any partial month shall be prorated on a per diem basis, based upon a thirty (30) day month. Tenant agrees that its covenant to pay 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 portion thereof during 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 Base Rent for the Term in the initial amount specified in the Lease TermSummary, which, except for the first installment (which shall be payable upon Lease execution), shall be due and payable throughout the Term in equal monthly installments in advance in monthly installments on the first day of each calendar month of 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 Term of this Lease Term, without demand. If as provided in the Lease Term commences 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 a day other than the first day of each month during such period. Within a month 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 for 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 terminates on a day other 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 last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant due hereunder shall be applied first deemed to be other than on account of the earliest accrued 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 unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasesatisfaction.
B. If Tenant fails to pay any installment of 2.5 Any Base Rent and or Additional Rent or any other item of Rent payable by Tenant to Landlord under this Lease which is not paid within ten (10) days after the same becomes due and payable hereunderdue, will be subject to (i) a “Late Charge” equal to 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 amount 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 with upon demand, and will accrue from the next installment date that such Base Rent, Additional Rent, late charges or other sums are payable under the provisions of Base Rent 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 exemption laws are hereby waived in favor of said lien and security interest. This lien and security interest is given in addition to Landlord's statutory lien and shall be 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 law, this Lease shall constitute a security agreement under Article 9 of the Florida Uniform Commercial Code. Notwithstanding the foregoing, Landlord agrees to subordinate its lien to a bona fide institutional lender providing acquisition financing or lease financing for Tenant's furniture, fixtures, and equipment, so that Landlord will have a second lien on such furniture, fixtures and equipment.
Appears in 2 contracts
Samples: Commercial/Industrial Building Lease (World Diagnostics Inc), Commercial/Industrial Building Lease (World Diagnostics Inc)
Rent. A. 4.1 Tenant covenants 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 Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein15th day of the calendar month, the full amount 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, wire, ACH transfer or by money order 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 Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leaseand 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 may be collectively called “Rent” 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 additionthe 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 paypay to Landlord a late charge (the “Late Charge”), as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments an amount of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the amount of such unpaid amount 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. Notwithstanding the foregoing provisions of this Section 4.2, 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 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 and payable 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 next execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of the first installment of Base Monthly Rent and Tenant’s Share of Operating Expenses and Taxes due hereunder and (ii) if applicable, an amount equal to the Security Deposit Amount to be held by Tenant to Landlord.Landlord as security for Tenant’s faithful performance of all
Appears in 2 contracts
Samples: Lease Agreement (Talend SA), Lease Agreement (Talend SA)
Rent. A. 4.1 Tenant covenants hereby agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinBase Rent. For purposes of Rent adjustment under the Lease, the full amount 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 Tenant’s Share of Operating Expenses and Taxes, and any and all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under and payable by Tenant to Landlord as set forth in this Lease, 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 Base Rent, the Monthly Rent and the Additional Rent are sometimes hereinafter may be collectively called “Rent” and shall be paid when due in lawful money of the United States without demand, deduction, abatement, or offset (except as otherwise expressly provided in this Lease) 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 additionthe 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, Tenant shall paypay to Landlord a one-time late charge (the “Late Charge”), as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments an amount of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the amount of such unpaid amount 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. Notwithstanding the foregoing provisions of this Section 4.2, 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 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 and payable with the next installment of Base Rent by from Tenant to Landlordduring such applicable twelve (12) month period which is not received within five (5) days after its due date.
Appears in 2 contracts
Samples: Lease Agreement (Adicet Bio, Inc.), Lease Agreement (resTORbio, Inc.)
Rent. A. (a) Tenant covenants to shall pay to Landlord as rental for the Premises during each year of the term of this Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be set forth in addition to all other payments required to be paid to Landlord by Tenant under this LeaseSection 1(g) hereof. Such payments rental shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance advance, in equal monthly installments on upon the first day of each calendar and every month during throughout the Lease Termterm of this Lease; provided, without demand. If however, that if the Lease Term commences lease term shall commence on a day other than the first day of a calendar month or terminates shall end on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) rental for such first or last fractional month or months shall be prorated, based on such proportion of the monthly rental as the number of days in such fractional month bears to the total number of days in the calendar month. All amounts received by Landlord from Tenant .
(b) Rent and all other charges hereunder shall promptly be applied first to the earliest accrued paid without prior demand therefor and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay without deductions or setoffs for any installment of Base Rent reason whatsoever, except as expressly herein provided, and Additional Rent or overdue rent and any other item sums payable by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of Rent within ten interest equal to two percent in excess of the “Prime Rate” published from time to time by The Wall Street Journal (10) days after hereinafter referred to as the same becomes “Interest Rate”). 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 of each late payment. Landlord shall have no obligation to accept less than the full amount of all installments of rental and interest thereon and all charges hereunder which are due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent 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 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 immediately available funds, or (iii) electronic funds transfer.
Appears in 2 contracts
Samples: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Rent. A. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant covenants during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to Landlord during the Lease Termbe held as advance rental and security to be forfeited, without limitation or other remedies, for any setoff or deduction default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of which hereinafter may be collectively called “Rent.” In addition, Tenant shall the provisions of this Lease assume or agrees to pay, as Additional Rentand, all rentin case of any nonpayment thereof, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be Landlord shall have in addition to any other rights and remedies, all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent rights and Additional Rent remedies provided by law or provided for each calendar year or portion thereof during in the Lease Term, shall be for the nonpayment of Fixed Rent. All Fixed Rent payments are due and payable in advance in monthly installments without demand, deduction or set-off on the first day of each calendar and every month during the Lease Term, without demandTerm and any extension or renewal thereof. If the Lease Term commences on a day other than the first day of a Fixed Rent for any partial month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated. In the event any Fixed Rent, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent additional rent or any other item of Rent payments are not paid within ten (10) days after of the same becomes due and payable hereunderdate thereof, Tenant shall be charged a “Late Charge” equal to five percent (5%) late fee of 1.5% of such unpaid amount will late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be due payable in addition to and payable with the next installment not in exclusion of Base Rent by Tenant additional remedies herein provided to Landlord.
Appears in 2 contracts
Samples: Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals, Inc.), Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals Inc)
Rent. A. 7.1 Commencing on the Term Commencement Date, Tenant covenants to shall pay to Landlord during the Lease Term, without any setoff or deduction except sums set forth in Section 2.3 as otherwise expressly provided herein, the full amount of all Base Rent and Additional for the Premises, subject to the abatement of Base Rent due hereunder and to the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be extent set forth in addition to all other payments required to be paid to Landlord by Tenant under this LeaseSection 8 below. Such payments Base Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for in equal monthly installments as set forth in Section 2.3, 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 and every calendar month during the Term. For the avoidance of doubt, Tenant’s payment of Base Rent for the first (1st) month of the Term shall be delivered to Landlord on the Term Commencement Date.
7.2 In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”), commencing on the Term Commencement Date (or the Expense Trigger Date (as defined below) with respect to Operating Expenses) and at times hereinafter specified in this Lease, notwithstanding any abatement of Base Rent provided in Section 8 below, (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease Termthat are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3 Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without demandabatement, 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 (which may, at Tenant’s election, include payment of Rent by ACH, subject to an ACH authorization form reasonably acceptable to Landlord (which form shall stipulate that such authorization is for credit entries only to Landlord’s bank account)). If In the Lease event the Term commences or ends on a day other than the first day of a month or terminates on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) for such fraction of a month or months shall be prorated, based prorated for such period on the basis of the number of days in such month. All amounts received by Landlord from Tenant hereunder the month and shall be applied first to paid at the earliest accrued and unpaid Rent then outstanding. then-current rate for such fractional month.
7.4 Tenant’s covenant obligation to pay Rent shall not be independent 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 set forth 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 Lease.
B. If Tenant fails sentence shall in any way affect Tenant’s obligations with respect to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordperiod.
Appears in 2 contracts
Rent. A. Tenant covenants shall pay base rent (referred to pay herein as “Base Rent” or “Rent”) to Landlord at the place as Landlord may from time to time designate, in coin or currency which, shall be Sixty (60) Million Japanese Yen per year, payable in equal monthly installments of Five (5) Million Japanese Yen. Such Base Rent shall be reviewed annually and will be determined by using the Rent formula (“Formula”) set forth in the attached Exhibit B as made a part hereof. Such new Base Rent amount after annual review of the Variables, will commence on April 1 of each Lease Year and end on March 31 of the following Lease Year. Landlord shall inform Tenant of the annual adjusted Rent amount pursuant to the form of Landlord Notice of Annual Rent Adjustment, which is attached hereto as Exhibit D. All rent payments shall be made in advance on or before the 15th day of each and every month during the Lease Term, without any setoff set-off or deduction whatsoever, except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, that Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under pay the first full monthly installment at the time of execution of this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than on the first day of a month or terminates on a day ends other than on the last day of the month, the Rent for such month shall be prorated. Notwithstanding the foregoing, with respect to Rent due from the Effective Date until the execution date of this Lease, Landlord shall send applicable monthly invoices reflecting all such Rent due by Tenant and Tenant shall promptly pay such Rent pursuant to the terms of this Lease. All of any sums and payments due and owning under this Lease shall be deemed “Rent.” For purposes of this Lease, a lease year shall be the twelve (12) month period commencing with the first day of the month following the Commencement Date (or, if the Commencement Date falls on the first day of a month, then commencing on the installments of Base Rent (if anyCommencement Date) and Additional Rent (if any) for such month or months shall be prorated, based ending on the number last day of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued twelfth (12th) full calendar month thereafter, and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten each succeeding twelve (1012) days after the same becomes due and payable hereunder, calendar month period (a “Late Charge” equal to five percent Lease Year”), and this Lease shall then terminate, unless extended, on the last day of the twentieth Lease Year (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord“Expiration Date”).
Appears in 2 contracts
Samples: Lease Agreement (Opnext Inc), Lease Agreement (Opnext Inc)
Rent. A. 4.1 Tenant covenants 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 Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein15th day of the calendar month, the full amount 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 Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under and payable by Tenant as set forth in this Lease, 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 Base Rent, the Monthly Rent and the Additional Rent are sometimes hereinafter may be collectively called “Rent” 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 additionthe 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 paypay to Landlord a late charge (the “Late Charge”), as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments an amount of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the amount of such unpaid amount 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. Notwithstanding the foregoing provisions of this Section 4.2, the Late Charge shall not be imposed with respect to the first late payment in any 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 and payable from Tenant during such calendar year which is not received within five (5) days after its due date.
4.3 Simultaneously with the next execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of the first full installment of Base 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 Tenant to Landlord.Landlord as security for Tenant’s faithful
Appears in 2 contracts
Samples: Lease Agreement (Allakos Inc.), Lease Agreement (Allakos Inc.)
Rent. A. Landlord hereby leases to Tenant and Tenant hereby hires from Landlord the Premises in the Building for the Term, to commence on the Commencement Date and to end on the Expiration Date, both dates inclusive, unless the Term shall sooner end pursuant to any of the terms, covenants or conditions of this Lease or pursuant to law at the Minimum Rent, which Tenant agrees to pay to Landlord during in lawful money of the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount United States which shall be legal tender in payment of all Base Rent debts and Additional Rent due hereunder dues, public and private, at the full amount time of all such other sums of money as shall become due under this Leasepayment, all of which hereinafter may be collectively called “Rent.” In additionin equal monthly installments, Tenant shall payin advance, as Additional Rent, all rent, sales commencing on the Commencement Date and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 (1st) day of each calendar month thereafter during the Lease TermTerm (except as hereinafter otherwise provided), at Landlord's Address for Payment of Rent or such other place as Landlord may designate, without demandany set-off, offset, abatement or deduction whatsoever, except that Tenant shall pay the first monthly installment on the execution hereof. If the Lease Term commences Commencement Date shall occur on a day date other than the first (1st) day of a any calendar month, Tenant shall pay to Landlord, on the first (1st) day of the month or terminates on a day other than next succeeding the month during which the Commencement Date shall occur, an amount equal to such proportion of an equal monthly installment of Minimum Rent as the number of days from and including the Commencement Date bears to the total number of days in. said calendar month. Such payment, together with the sum paid by Tenant upon the execution of this Lease, shall constitute payment of the Minimum Rent for. the period from the Commencement Date to and including the last day of a the next succeeding calendar month. In the event that, then on the installments of Base Rent (if any) and Additional Rent (if any) for such month Commencement Date, or months thereafter, Tenant shall be proratedin default in the payment of Rent to Landlord pursuant to the terms of another lease of space in the Building with Landlord or with Landlord's predecessor-in-interest, based on Landlord may, at Landlord's option and without notice to Tenant, add the number amount of days in such month. All amounts received by Landlord from Tenant hereunder arrearages to any monthly installment of the Rent and the same shall be applied first payable 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 LeaseLandlord as additional rent hereunder.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Rent. A. 4.1 Tenant covenants hereby agrees to pay Landlord the Base Rent subject to Landlord during recalculation as provided in Section 1.2. For purposes of Rent adjustment under the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinLease, the full amount number of all 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 Tenant’s Share of Operating Expenses and Taxes shall be abated for the first three (3) months after the Commencement Date and Tenant shall have no obligation to 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 none of the Base Rent or Tenant’s Share of Operating Expenses and Taxes due hereunder in periods in which Base Rent and Tenant’s Share of Operating Expenses and Taxes is not being abated shall be allocated to any other period. Each monthly installment (the full amount “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 Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all such other sums of money as shall become due under this Leaseand 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 may be collectively called “Rent” 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 additionthe 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 paypay to Landlord a late charge (the “Late Charge”), as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments an amount of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the amount of such unpaid amount 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. Notwithstanding the foregoing provisions of this Section 4.2, the 5% 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 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 and payable 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 next 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 Base 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 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.
Appears in 1 contract
Samples: Lease Agreement (Imperva Inc)
Rent. A. 4.1 Tenant covenants hereby agrees to pay Landlord the Base Rent subject to Landlord during recalculation as provided in Section 1.2. For purposes of Rent adjustment under the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinLease, the full amount 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 Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leaseand 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 may be collectively called “Rent” 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. As an inducement to Tenant entering into this Lease, 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 additionthe 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 paypay to Landlord a late charge (the “Late Charge”), as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments an amount of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the amount of such unpaid amount will late payment. Failure to pay any Late Charge shall be due deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and payable 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 next 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 Base 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 obligations with respect to the Security Deposit are those of 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 released from further liability with respect to the Security Deposit upon the original Landlord’s or such successor owner’s complying with California Civil Code Section 1950.
Appears in 1 contract
Samples: Lease Agreement (Biotime Inc)
Rent. A. Tenant covenants to pay to Landlord during The Rent due for the entire Lease Term, without Term is $ . Rent shall also include any setoff other charges identified in this Lease as “Rent” or deduction except as otherwise expressly provided herein, the full amount of all Base “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 hereunder 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 monthly option) is subject to a Fifty Dollar ($50.00) late fee which shall be due as Additional Rent. In addition, beginning with the sixth day after the due date of a rent payment, you will be charged an additional charge of $5.00 per day until payment is received in full. Tenant’s right of possession and all of Landlord’s obligations are expressly contingent on prompt payment of Rent and use of the full amount of all such other sums of money as shall become Premises by Tenant is granted only on the condition that Rent is paid on time. If Tenant fails to pay Rent or Additional Rent due under this Lease, all 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 which hereinafter may be collectively called “Rent or Additional Rent.” In addition. Should Tenant elect to vacate the Apartment, Tenant shall paycontinues 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, as Additional Rent, all rent, sales or for any other legal action commenced by Landlord for the enforcement of the terms and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under conditions of this Lease. Such payments shall Owed rent will be paid concurrently with the payments of the Rent on which the tax is basedsent to Collections and a 30% Collections Fee will be assessed. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder 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 accrued 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 unpaid Rent then outstandingsubmit a Lease renewal form. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this LeaseApartments 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.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Samples: Lease Agreement
Rent. A. 3.1 The Tenant covenants shall punctually pay the Rent for the Leased Premises for the Term to pay to the Landlord in the amounts and at the times set forth below, without bill or other demand and without any offset, deduction or, except as may be otherwise specifically set forth in this Agreement, abatement whatsoever.
3.2 The Basic Rent for the Leased Premises during the Initial Term shall be at the rate per year set forth below: Rent Commencement Date through Lease Term, without Year One [***] The annual rate of Basic Rent for the Leased Premises during the Renewal Term shall be calculated as set forth in subsection 6.3 of this Agreement. The annual rate of Basic Rent applicable to any setoff or deduction except Additional Leased Premises during the Initial Term shall be as otherwise expressly provided herein, the full amount set forth in subsection 44.2 of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “RentAgreement.” In addition,
3.3 The Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be punctually pay the applicable Basic Rent in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable equal monthly installments in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If with the Lease exception of Basic Rent for the first full calendar month of the Initial Term commences immediately following the Rent Commencement Date (if the Rent Commencement Date occurs on a day other than the first day of a calendar month) or for the first full calendar month or terminates of the Initial Term commencing on the Rent Commencement Date (if the Rent Commencement Date occurs on the first day of a day calendar month), and for any period of less than a full calendar month at the beginning of the Term commencing on the Rent Commencement Date. The Tenant shall pay the Basic Rent for the first full calendar month of the Initial Term immediately following the Rent Commencement Date (if the Rent Commencement Date occurs on other than the last first day of a calendar month, then ) or for the installments first full calendar month of Base the Initial Term commencing on the Rent Commencement Date (if anythe Rent Commencement Date occurs on the first day of a calendar month) 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 commencing on the Rent Commencement Date on the Rent Commencement Date.
3.4 The Basic Rent and the Additional Rent (if any) for such any period of less than a full calendar month or months shall be prorated. In the event that any installment of Basic Rent cannot be calculated by the time payment is due, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder portion as is then known or calculable shall be applied first then due and payable; and the balance shall be due upon the Landlord’s giving written notice to the earliest accrued and unpaid Tenant of the amount of the balance due.
3.5 The Additional Rent then outstanding. Tenant’s covenant to pay Rent for the Leased Premises during the Term shall be independent of every other covenant promptly paid by the Tenant in the respective amounts and at the respective times set forth in this LeaseAgreement.
B. 3.6 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 (or by the fifth day after the day it is first due in the case of the first payment in any period of twelve consecutive calendar months that is not paid on the day it is first due) shall incur a late charge equal to the sum of: (i) [***] percent of 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 (or by the fifth day after the day it is first due in the case of the first payment in any period of twelve consecutive calendar months that 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 (or by the fifth day after the day it is first due in the case of the first payment in any period of twelve consecutive calendar months that is not paid on the day it is first due) at the Base Rate(s) in effect from time to time plus [***] 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 due immediately.
3.7 Any amount of Rent or other amount which is due upon execution and delivery of this Agreement shall be paid by the Tenant to the Landlord at the Landlord’s office at 000 Xxxxxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxx, Xxx Xxxxxx 00000. Otherwise, the Tenant shall make all payments of Rent or other amounts due under this Agreement to the Landlord by either (i) electronic funds (ACH) transfer to Bank of America (Dallas, Texas), [***], (ii) overnight courier to Bank of America Wholesale Lockbox, Boston Properties Limited Partnership [***], or (iii) mail to Boston Properties Limited Partnership, [***]. By notice to the Tenant from time to time, the Landlord may change the foregoing payment instructions with regard to amounts not previously paid.
3.8 If any sum payable by the Tenant fails under this Agreement is paid by check which is returned due to insufficient funds, stop payment order, or otherwise, then: (a) such event shall be treated as a failure to pay any installment such sum when due; and (b) in addition to all other rights and remedies of Base Rent the Landlord hereunder, the Landlord shall be entitled (i) to impose a returned check charge of [***] Dollars ($[***]) to cover the Landlord’s administrative expenses and Additional Rent or any other item of Rent within ten overhead for processing, and (10ii) days after the same becomes due and payable hereundersecond occurrence of a returned check in any twelve (12) month period, or after a “Late Charge” equal third occurrence over the Term, to five percent (5%) of such unpaid amount will require that all future payments be due and payable with the next installment of Base Rent remitted by Tenant to LandlordACH or wire transfer, money order, or cashier’s or certified check.
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Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales begin paying rent on the Rental Commencement Date and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with pay the payments Monthly Installments of the Annual Rent on which the tax is based. Base Rent and 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 for the Lease TermTerm of this Lease; and (except as specifically set forth herein including Section 60) without deduction, without set-off, recoupment, counterclaim, or demand, at Landlord's Address or at such other place as shall be designated in writing by Landlord. If the Lease Term commences rental payments shall commence or end on a day other than the first day of a month, the Monthly Installments of Annual Rent for any such partial month or terminates of the Term shall be prorated on a day other than per diem basis. Upon the last execution of this Lease, Tenant shall pay one (1) Monthly Installment of Annual Rent and, if the Original Term does not commence on the first day of a month, then Tenant shall also pay a prorated Monthly Installment of Annual Rent for the installments period from the first day of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number Original Term until the last day of days in such month. All amounts received by Landlord During the first three (3) years of this Lease from Tenant hereunder the Rent Commencement date, the Annual Rent for the Original Space shall be applied first to the earliest accrued and unpaid sum of $6.82 per square foot per annum, multiplied by the actual square footage of the leased Premises, payable in equal monthly installments. Commencing July 1, 1998, the Annual Rent then outstanding. Tenant’s covenant to pay Rent for the Original Space shall be independent increased by ten and nine-tenths percent (10.9%), being $7.561 per square foot, per annum. Commencing July 1, 1999 and every year thereafter, during the Original Term and any Extension Term(s) of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base , the Annual Rent for the Original Space shall be increased by three and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five one-half percent (53.5%) of such unpaid amount will per annum. Accordingly, the Annual Rent for the Original Space shall be due and payable with the next installment of Base Rent by Tenant to Landlord.increased as follows:
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Rent. A. (a) Tenant covenants to shall pay to Landlord during the Lease Term, Base Rent without any demand and without setoff or deduction deductions of any kind, except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under set forth in this Lease, all of which hereinafter may be collectively called “Rent.” In additionin equal monthly installments, Tenant shall payin advance, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 of the Lease TermTerm at the address of Landlord stated below or such other place as Landlord may designate in writing from time to time, without demand. If the Lease Term commences on with payment in advance of appropriate fractions of a day other than the first day monthly payment for any portion of a month or terminates on a day other than at the last day commencement and termination of a month, then the installments Term. The first monthly installment of Base Rent (if any) and Additional Rent (if any) for such month or months shall, however, be payable on the execution hereof. All payments shall be proratedmade initially at Landlord's office c/o Crown Properties, based on the number of days in such monthInc., 000 Xxxxxx Xxxx Xxxxx, Xxxxxx Xxxx, Xxx Xxxx 00000. All amounts received Every amount payable by Landlord from Tenant hereunder shall be applied first in addition to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Base Rent shall be independent deemed Additional Rent, which shall be paid without setoff or deductions of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of kind within 15 days after demand. Base Rent and Additional Rent or any other item of are herein collectively called "Rent". Any Rent not paid by Tenant within ten (10) days after the same becomes its due and date shall thereafter be payable hereunder, with a “Late Charge” late charge equal to five percent 5% of the unpaid rent installment, as Additional Rent. The Base Rent shall be payable as follows: Year Annual Base Rent Monthly Base Rent ---- ---------------- ----------------- 1 $574,000.00 $47,833.33 2 $602,000.00 $50,166.67 3 $630,000.00 $52,500.00 4 $658,000.00 $54,833.33 5 $686,000.00 $57,166.67 6 $714,000.00 $59,500.00 7 $742,000.00 $61,833.33
(5%b) Tenant's obligation to pay Base Rent under this Lease shall commence on the Commencement Date of this Lease (the "Rent Commencement Date").
(c) The obligation of Tenant to pay all sums of Additional Rent and the Electrical Inclusion Amount (as hereinafter defined) shall commence on the Commencement Date of the Lease and there shall be no abatement whatsoever of the obligation of Tenant to pay such unpaid amount sums during any period or part of any lease year during the term of the Lease.
(d) Notwithstanding the foregoing, Tenant's obligation to pay Base Rent under this Lease shall be abated as follows:
(i) during lease months 1 through 9, Base Rent shall be calculated on the basis of 20,000 rentable square feet; (ii) during lease months 10 through 18, Base Rent will be due calculated on the basis of 24,000 rentable square feet; and payable with (iii) from lease month 19 through the next installment of Expiration Date, the Base Rent by Tenant to Landlordwill be calculated on the basis of 28,000 rentable square feet. Accordingly, during lease months 1 though 9, monthly Base Rent shall be $34,166.67, during lease months 10 through 12, monthly Base Rent shall be $41,000.00, and during lease months 13 through 18, monthly Base Rent shall be $43,000.00.
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Samples: Lease (Matrixone Inc)
Rent. A. Tenant covenants to pay to Landlord during (A) Rent for the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments Premises shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments of $ per month payable in advance, on or before the first day of each calendar month during the Term of the Lease Termat the location set forth below, without demand. If notice or demand (“Rent”).
(B) Tenant shall also pay additional rent of $ _ per month to Landlord for
(C) Unless Landlord notifies Tenant of a change in address, all payments must be mailed or delivered to Landlord at the Lease following address: .
(D) Rent for any partial month during the Term commences will be prorated accordingly, on a day other than the per diem basis. The first day (1st) monthly installment of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 paid to Landlord contemporaneously with the execution of every other covenant set forth in this Lease.
B. If Tenant fails (E) Rent (including any Additional Rent) is due on the first (1st) day of each calendar month. Any payments paid after the day of any calendar month shall be deemed late. Any late payments shall be charged a $ late fee for the first day rent is late. An additional fee of $ per day shall be assessed for each additional day Rent is late, until Rent is paid in full. Additionally, any Rent (including any Additional Rent) due to pay any installment Landlord that is not paid when due shall bear interest, from the date due, at a rate of Base Rent eighteen percent (18%) per annum. All late fees and interest shall be deemed Additional Rent payable by Tenant.
(F) Payments shall be deemed received when actually delivered to, and received by, Landlord at the payment location. Dishonored checks and any checks received late in the mail will be treated as late payments. A fee of $ shall be applied by Landlord to any dishonored check, which fee shall be deemed Additional Rent. Any additional bank and handling charges that are assessed in the event of a dishonored check shall also be deemed Additional Rent. Landlord may require Tenant to replace any dishonored check with a money order, cashier’s check, or any other item bank check. Landlord may further require that all subsequent payments after a dishonored check be paid with a money order, cashier’s check, or bank check.
(G) Acceptable forms of payment of Rent within ten (10including Additional Rent) days after are personal check, cashier’s check, bank check, money order, and the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) following online/ACH payment methods . No other forms of such unpaid amount payment will be due and payable with the next installment of Base Rent accepted by Tenant to Landlord.
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Samples: Residential Lease Agreement
Rent. A. Tenant covenants (a) Tenant's liability for rent shall commence to pay to Landlord during accrue on the Lease TermCommencement Date as defined in Section 2(b) above, without any setoff or deduction except as otherwise expressly provided hereinthat this lease has not been terminated prior thereto. If the Commencement Date begins on a date other than the first of a calendar quarter, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all rent for such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments partial initial quarter shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent prorated and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable on the Commencement Date, and the term will be extended to terminate on the last day of the calendar quarter in advance which the term would otherwise expire. The annual base rent ("Base Rent") to be paid by Tenant to Landlord shall be Two Hundred Thousand Dollars ($200,000.00). Such rental shall be payable in monthly equal quarterly installments of Fifty Thousand Dollars ($50,000.00) on the first day of each calendar month quarter during the Lease Term, without demandterm hereof. If For the Lease Term commences on a day other than period from the Closing Date until the beginning of the first day full calendar quarter, the prorated portion of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months prior calendar quarter shall be prorated, based payable to Landlord on the number Closing Date.
(1) All payments of days in such month. All amounts received by Landlord from Tenant rent hereunder shall be applied first made to Landlord as the same become due in lawful money of the United States. Nothing contained in this lease shall be construed to be or create a partnership or joint venture between Landlord and Tenant.
(2) Receipt and acceptance by Landlord of any rentals, additional rentals and charges with knowledge of the breach of any covenant or condition of this lease by Tenant shall not be deemed a waiver of such breach.
(c) In addition to the earliest accrued payments required herein as Base Rent to the Landlord, the Tenant shall also pay the following:
(1) All occupational licenses, other licenses, franchise taxes and unpaid Rent then outstanding. Tenant’s covenant business taxes arising from or necessary in the operation of the business to pay Rent shall be independent of every other covenant set forth carried on in this Leasethe Demised Premises.
B. If Tenant fails (2) All utility services provided to pay any installment of Base Rent the Demised Premises and Additional Rent or any other item of Rent within ten (10) days after the same becomes due used by Tenant, including, but not limited to, water, gas, electric, and payable hereundertelephone, a “Late Charge” equal as they from time to five percent (5%) of such unpaid amount will time shall accrue and be due and payable during the term of this lease.
(3) Tenant shall pay to the appropriate governmental agencies all real estate and other ad valorem taxes (including without limitation, special assessments) with respect to the Demised Premises and the improvements thereon during the term of this lease or any extension thereof and upon request shall furnish Landlord a copy of the receipted tax xxxx. These taxes include, but are not limited to, any real estate tax, real estate rental receipt or gross receipt tax or any other tax imposed by Federal, state or local taxing or assessing authorities as a substitution for or in addition to the current method of property taxation. It is further understood and agreed that all real estate and ad valorem taxes assessed during the first and last years of the term of this lease shall be prorated and that Tenant shall only be liable for such portions of such taxes assessed for said first and last years as its months of occupancy during any of said years shall bear to the total of twelve (12) months. Tenant shall have the right in its name or in Landlord's name, whichever shall be appropriate, but at its own cost and expense, to file and prosecute applications for reduction of assessed valuation and to institute legal proceedings for the reduction thereof. Notwithstanding such contest, Tenant shall pay all taxes before the Demised Premises, or any portion thereof, may become subject to a sale by governmental authority by reason of the non-payment thereof. Upon the final determination of any such contest by a court or governmental department or authority having final jurisdiction in the matter, Tenant shall pay the same, together with such fines, interest, penalties, cost and charges as may, in accordance with such determination, be payable in connection therewith. In no event shall Tenant be liable for payment of any income, estate or inheritance taxes imposed upon the Landlord or the estate of the Landlord with respect to the Demised Premises. Landlord agrees to promptly deliver copies of all tax notices and tax bills to the Tenant so that Tenant may timely contest any proposed tax increase and promptly pay the tax due so as to take advantage of any discounts allowed for timely payment.
(4) It is the intention of the parties that this lease is a "triple-net" lease for all purposes and that Tenant shall bear all expenses associated with the next installment Demised Premises and the lease shall be construed consistent with such intention.
(d) All rental due hereunder shall continue to be payable to the date of Base Rent by Tenant to Landlordclosing under the Purchase Option Agreement.
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Rent. A. Tenant covenants Lessee agrees to pay to Landlord Lessor, as rent during the Initial Term of this Lease Term, without any setoff or deduction except as otherwise expressly provided hereinand the first renewal term, the full sum of Fourteen Thousand Dollars ($14,000.00) per month (“Base Rent”), commencing on the Commencement Date and on the 1st day of each calendar month thereafter. Notwithstanding anything contained in the preceding sentence, unless and until Lessee defaults beyond any applicable notice and cure periods, with respect to any covenant or obligation set forth in this Lease or in the Business Note (the “Note”), executed on even date herewith by and between Lessee and Lessor, Lessee’s obligation to pay rent from the Commencement Date up through and including January 31, 2010, shall xxxxx (the “Rental Abatement Period”). In the event that Lessee defaults, with respect to any covenant or obligation set forth in this Lease or in the Note during the Rental Abatement Period, which such default is not cured within fourteen (14) days of Lessor’s written notice to Lessee (the “Notice Period”), then this Lease shall terminate on the last day of the Notice Period and all Base Rent that would have been due to Lessor from Lessee during the Rental Abatement Period shall be immediately due and payable. In the event that Lessee defaults with respect to any covenant or obligation set forth in the Note during the Rental Abatement Period and such default is cured during the Notice Period, then this Lease will not terminate, but the rental abatement shall be revoked retroactive to the Commencement Date. Thereafter, Lessee’s Base Rent shall be increased to an amount equal to the total of Lessee’s Base Rent that would have been due during the Rental Abatement Period but for the abatement of such Base Rent, plus the total of all Base Rent and Additional Rent due hereunder and throughout the full amount balance of all such other sums the Initial Term of money as shall become due under this Lease, all Lease divided by the number of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be months remaining in addition to all other payments required to be paid to Landlord by Tenant under the Initial Term of this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Said increased Base Rent and 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 the first month immediately after the end of the Notice Period, during which Lessee’s default was cured, and, thereafter, on the first day of each calendar month during thereafter throughout the Lease balance of the Initial Term. During the first renewal term, without demand. If the Lease Term commences however, Lessee’s Base Rent shall be reduced to Fourteen Thousand Dollars ($14,000.00) per month payable on a day other than the first day of a the first month or terminates of the first renewal term and on a day other than the last same day of each successive month thereafter. In the event that Lessee shall exercise Lessee’s option to renew this Lease for a monthsecond renewal term, then Lessee’s monthly rental obligation, throughout the entire second renewal term, shall be equal to ninety-five percent (95%) of the prevailing market rate for commercial premises of like kind construction, design, use, and location (the “Prevailing Market Rate”). For purposes of this Lease, the Prevailing Market Rate shall be determined, as of the first day of the second renewal term, by the written mutual agreement of Lessor and Lessee. In the event that Lessee and Lessor have not mutually agreed as to the Prevailing Market Rate by a date that is forty-five (45) days prior to the first day of the second renewal term, then Lessor shall, at Lessor’s expense, obtain an independent written determination of the Prevailing Market Rate from a qualified commercial real estate broker familiar with the Premises and commercial real estate, in general, in Outagamie County, Wisconsin. Lessee shall also, at Lessee’s expense, obtain an independent written determination of the Prevailing Market Rate from a qualified commercial real estate broker familiar with the Premises and commercial real estate, in general, in Outagamie County, Wisconsin. If the two (2) opinions are within ten percent (10%) of each other, determined according to ten percent (10%) of the higher of the two (2) opinions, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months Prevailing Market Rate shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first equal to the earliest accrued and unpaid Rent then outstandingaverage of the two (2) opinions. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent the two (2) opinions are not within ten percent (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will each other, determined according to ten percent (10%) of the higher of the two (2) opinions, and Lessor and Lessee are still unable to agree as to the Prevailing Market Rate, then the two (2) commercial real estate brokers shall appoint a third qualified commercial real estate broker familiar with the Premises and commercial real estate, in general, in Outagamie County, Wisconsin, the expense of which shall be divided equally between Lessor and Lessee, and the opinion of the third commercial real estate broker shall be the Prevailing Market Rate. Notwithstanding anything contained in this Section 3 to the contrary, for any month during the second renewal term during which Lessee’s Base Rent is in dispute and subject to the dispute resolution process set forth above, Lessee’s monthly rental obligation shall be Fourteen Thousand Dollars ($14,000.00) subject to adjustment, upward or downward, upon the determination of Lessee’s Base Rent due and payable with owing throughout the next installment of second renewal term. Any such adjustment shall be made to the first and, if necessary, second Base Rent by Tenant to Landlordpayments due immediately after the final second renewal term Base Rent determination.
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Rent. A. (a) During each Fiscal Year, Tenant covenants to shall pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and in accordance with the full amount terms of all such other sums of money as shall become due under this Lease.
(b) For so long as an Affiliate of Landlord owns, all of which hereinafter may be collectively called “Rent.” In additiondirectly or indirectly, an equity interest in Tenant, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid pay to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent out of Income After Debt Service, to the extent of Available Cash, in accordance with the priority of distribution set forth in Section 18.4 of the Partnership Agreement for each calendar year the applicable Fiscal Year. To the extent that there is insufficient Income After Debt Service to pay to Landlord all or any portion of Base Rent or Additional Rent for a Fiscal Year, such Base Rent or Additional Rent or portion thereof during the Lease Termshall not be deemed earned or payable with respect to such Fiscal Year, and shall not be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first curried forward 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 Leaseany subsequent Fiscal Year.
B. (c) If an Affiliate of Landlord does not own, directly or indirectly, an equity interest in Tenant, Tenant fails shall pay to pay any installment of Landlord the Base Rent and Additional Rent out of Income After Debt Service, to the extent of Available Cash, in accordance with the priority of distributions and the other provisions set forth in Schedule 4.1 hereto for the applicable Fiscal Year, except that the amount of debt service that shall be deducted when computing Income After Debt Service and the amount of Capital Investment for each Partner used for calculating the Priority Returns before any payment of Additional Rent shall each be determined as follows:
(A) the ratio of secured debt to Non-Affiliated Lenders to total capital contributions plus secured debt to Non-Affiliated Lenders and loans provided by the Partners shall be determined on the last day of the most recently completed Fiscal Year prior to the date on which an Affiliate of Landlord no longer owned, directly or indirectly, an equity interest in Tenant;
(B) on each date on which Income After Debt Service is determined for purposes of distributions in accordance with Schedule 4.1 hereto, a deemed amount of secured debt and a deemed amount of capital contributions shall be determined by adding together the actual amount of secured debt to Non-Affiliated Lenders, the actual amount of loans provided by Partners and the actual amount of capital contributions (collectively, “Total Financing”), in each case as of such date, and then multiplying such Total Financing by the ratio determined pursuant to (A) above;
(C) the amount of deemed debt service to be used solely for purposes of determining Income After Debt Service shall then be calculated by multiplying the then existing interest rate of the actual secured debt to Non-Affiliated Lenders by the deemed amount of such secured debt determined pursuant to (B) above, which amount shall not exceed one hundred ten (110%) percent of the interest payments paid during the most recently completed Fiscal Year prior to the date on which an Affiliate of Landlord no longer owned, directly or indirectly, an equity interest in Tenant; and
(D) the amount of deemed capital contributions to be used solely for purposes of calculating the priority return on Capital Investment for each Partner set forth in subparagraph (a)(v) of Schedule 4.1 before any payment of Additional Rent shall be Total Financing minus the deemed amount of secured debt determined pursuant to (B) above. To the extent that there is insufficient Income After Debt Service (as determined pursuant to this Section 4.1(c)) to pay to Landlord all or any other item portion of the Base Rent within ten (10) days after the same becomes due or Additional Rent for a Fiscal Year, such Base Rent and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will Additional Rent or portion thereof shall not be due and deemed earned or payable with the next installment of Base Rent by Tenant respect to Landlordsuch Fiscal Year, and shall not be carried forward to any subsequent Fiscal Year.
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Rent. A. 4.01 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of all such other sums of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. 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 without notice or demand, provided that the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments installment of Base Rent (if any) for the 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 before thirty (if any30) 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 in the amount of $250.00, provided that Tenant shall be entitled to a grace period of up to five (5) days for the first late payment of Rent in a calendar year. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum, 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 oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month or months during the Term shall be prorated, based . No endorsement or statement on the number of days in such month. All amounts received by Landlord from Tenant hereunder a check or letter accompanying payment shall be applied first to the earliest accrued considered an accord and unpaid Rent then outstandingsatisfaction. Tenant’s covenant to pay Rent shall be is independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Samples: Office Lease Agreement (Clementia Pharmaceuticals Inc.)
Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of which hereinafter may be collectively called “this Lease. Tenant agrees to pay Landlord the Base Rent.” , without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord’s Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In additionaddition to the Base Rent, Tenant shall paypay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant’s Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term “Rent” whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, sales and use taxes the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or other similar taxes, if any, levied expiration or imposed by any city, state, county or other governmental body having authority, such payments to termination of the Lease Term shall be in addition to all other payments required to be paid to Landlord by Tenant under this Leasea prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. Such payments Any prorated Rent shall be paid concurrently with on the payments of the Rent on which the tax is based. Base Rent Commencement Date, and Additional any prorated Rent for each the final calendar year or portion thereof during the Lease Term, month hereof shall be due and payable in advance in monthly installments paid on the first day of each the calendar month during in which the Lease Term, without demand. If the Lease Term commences on a day other than the first day date of a month expiration or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 Leasetermination occurs.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
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Rent. A. Section 4.01 Tenant covenants to shall pay to Landlord during in lawful United States currency the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Annual Base Rent. All Annual Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of payable, in equal monthly installments, in advance, beginning on the Rent on which the tax is based. Base Rent Commencement Date, and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments continuing on the first day of each and every calendar month thereafter during the Lease Term, without demand. If Should the Lease Term commences Rent Commencement Date fall on a day other than the first day of a the month, then Tenant shall pay Rent for the fractional month or terminates commencing on a day other than the Rent Commencement Date and ending on the last day of the month in which the Rent Commencement Date occurs on a per diem basis (calculated on the basis of a thirty-day month), then payable upon occupancy of the installments of Base Premises by Tenant. The Rent (if any) and Additional Rent (if any) payment due under this Lease for such any fractional month or months shall be prorated, based calculated and paid on the number of days in such montha per diem basis. All amounts received by Rent, including, without limitation, Additional Rent, and other payments to Landlord from Tenant hereunder under this Lease shall be applied first paid to Landlord, without demand, setoff, or deduction whatsoever, except as specifically provided in this Lease, at Landlord’s Notice Address or at such other place as Landlord shall designate in writing to Tenant. Except to the earliest accrued and unpaid Rent then outstanding. extent otherwise provided herein, Tenant’s covenant obligations to pay Rent and other amounts due under this Lease are covenants independent of 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 independent denominated as “Additional Rent”. Landlord shall have the same rights and remedies with respect to defaults in the payment of every other covenant Additional Rent as set forth in this Lease.
B. If Tenant fails Lease with respect to pay any installment payment of Annual Base Rent. The term “Rent” when used in this Lease shall be deemed to include Annual Base Rent and ail forms of Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordRent.
Appears in 1 contract
Samples: Lease (Cara Therapeutics, Inc.)
Rent. A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant covenants to shall pay to Landlord the Base Rental. The Base Rental shall be payable in equal monthly installments during the Lease Term, without any setoff or deduction except commencing as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent Commencement Date. In the event the Commencement Date shall occur on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a calendar month, then the installments of Base Rent (Rental, and if any) and applicable, the Additional Rent (if any) Base Rental, shall be pro-rated for such month based upon a thirty (30) day month. Tenant covenants and agrees to also pay during the Lease Term as Additional Base Rental hereunder Tenant's Pro-Rata Share of Additional Base Rental. Prior to the first anniversary of the Commencement Date, and prior to January 1 of each subsequent calendar year during the Lease Term, or months as soon thereafter as practical, Landlord shall provide to Tenant the reasonably estimated amount of Tenant's Pro-Rata Share of Additional Base Rental (the "Estimate") for the applicable calendar year. On or before the first day of each month during such calendar year, Tenant shall pay to Landlord, as Additional Base Rental, a monthly installment equal to one-twelfth of the Estimate. Landlord shall have the right from time to time during any such calendar year to revise the reasonable Estimate to be paid by Tenant for such year to reflect a new reasonable Estimate, and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be proratedbased upon such revised Estimate. If Landlord does not provide Tenant with an Estimate by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the number previous year's Estimate until such time as Landlord provides Tenant with an Estimate for the current year. Upon receipt of days in such month. All amounts received by Landlord from Tenant hereunder current year's Estimate, an adjustment shall be applied first made for any month during the current year with respect to which Tenant paid monthly installments of Additional Base Rental based on the earliest accrued and unpaid Rent then outstandingprevious year's Estimate. Tenant’s covenant to Tenant shall pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay Landlord any installment of Base Rent and Additional Rent or any other item of Rent underpayment within ten (10) days after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant within ten (10) days from the same becomes date determined by Landlord or credited against the installment of Additional Base Rental due for the months immediately following the furnishing of such estimate; provided that in the event Tenant shall then be in default hereunder, Landlord shall be entitled to apply any such overpayment on account of other sums then due to Landlord. Any amounts paid by Tenant based on any Estimate shall be subject to adjustment pursuant to the immediately following paragraph when actual Expenses are determined for such calendar year. As soon as is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Costs and the actual amount of Tenant's Pro-Rata Share of Additional Base Rental for the previous calendar year. If the amount of the Estimate actually paid by Tenant for the prior year is in excess of the amount of Tenant's Pro-Rata Share of Additional Base Rental for such prior year, then Landlord shall apply such overpayment against Additional Base Rental due or to become due hereunder, provided if the Lease Term expires prior to the determination of such overpayment, Landlord shall refund such overpayment to Tenant after first deducting the amount of any Rent due hereunder. Likewise, Tenant shall pay to Landlord, within ten (10) days after demand, any underpayment with respect to the prior year, whether or not the Lease has terminated prior to receipt by Tenant of a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease. Tenant's Pro Rata Share of Additional Base Rental for any partial calendar year shall be determined by multiplying the amount of Tenant's Pro Rata Share of Additional Base Rental for the full calendar year by a fraction, the numerator of which is the number of days during such calendar year falling within the Lease Term and the denominator of which is 365.
B. Basic Costs shall mean all costs and expenses paid or incurred in each calendar year in connection with operating, maintaining, repairing, managing and owning the Building and the Property, [except to the extent expressly limited below in the case of the items described in subsections (6) and (9) below] including, but not limited to, the following:
1. All labor costs for all persons performing services required or utilized in connection with the operation, repair, replacement and maintenance of and control of access to the Building and the Property, including but not limited to amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and other similar taxes, workers' compensation insurance, uniforms, training, disability benefits, pensions, hospitalization, retirement plans, group insurance or any other similar or like expenses or benefits.
2. All management fees, the cost of equipping and maintaining a management office at the Building, accounting services, legal fees not attributable to leasing and collection activity, and all other administrative costs relating to the Building and the Property. If management services are not provided by a third party, Landlord shall be entitled to a management fee comparable to that due and payable hereunderto third parties provided Landlord or management companies owned by, or management divisions of, Landlord perform actual management services of a “Late Charge” equal comparable nature and type as normally would be performed by third parties with the understanding; however, that in the event Landlord or an entity owned or controlled by Landlord or parties owning no less than 51% of the ownership interests in Landlord shall receive such management fee, Landlord shall waive any general overhead of Landlord as to general management of the Building for which Landlord receives such management fee, including, overhead charges for services such as accounting, secretarial, bookkeeping, office rent for the management office, office furniture, supplies and equipment.
3. All rental and/or purchase costs of materials, supplies, tools and equipment used in the operation, repair, replacement and maintenance and the control of access to the Building and the Property.
4. All amounts charged to Landlord by contractors and/or suppliers for services, replacement parts, components, materials, equipment and supplies furnished in connection with the operation, repair, maintenance, replacement of and control of access to any part of the Building, or the Property generally, including the heating, air conditioning, ventilating, plumbing, electrical, elevator and other systems and equipment. At Landlord's option, major repair items may be amortized over a period of up to five percent (5%) years.
5. All premiums and deductibles paid by Landlord for fire and extended coverage insurance, earthquake and extended coverage insurance, liability and extended coverage insurance, rental loss insurance, elevator insurance, boiler insurance and other insurance customarily carried from time to time by landlords of such unpaid amount will comparable office buildings or required to be due carried by Landlord's Mortgagee.
6. Charges for all utilities, including but not limited to water, electricity, gas and payable with sewer, to the next installment extent provided to the common areas of Base Rent by Tenant to Landlordthe Building located on the first floor.
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Rent. A. (a) Commencing on the Commencement Date (the “Base Rent Commencement Date”), and thereafter throughout the term of this Lease, Tenant covenants to pay Landlord, without demand therefor and without any setoff, counterclaim, abatement or deduction whatsoever, a net fixed minimum annual rent (herein called the “Base Rent”) equal to Landlord 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 Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount term of all this Lease.
(b) The Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with payable commencing on the payments of the Rent on which the tax is based. Base Rent Commencement Date and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable thereafter in equal monthly installments in advance in monthly installments on the first day of each and every calendar month during the Lease Term, without demandterm of this Lease. If the Base Rent Commencement Date or the last day of the term of this Lease Term commences occurs on a day other than the first day or last day, respectively, of a month or terminates on a day other than the last day of a calendar month, then the installments Base Rent for the partial calendar month in which the Base Rent Commencement Date or such last day occurs shall be a prorated portion (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 (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant payable hereunder shall be applied first absolutely net to Landlord 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 earliest accrued 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 unpaid Rent then outstandingcharges 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’s covenant to pay Rent Tenant shall be independent responsible for all such costs, expenses and charges whether or not they are first due and payable during the term of every other covenant set forth in 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.
B. If (d) All sums, other than Base Rent, payable by Tenant fails to pay any installment Landlord under this Lease are considered additional rent for all purposes of this Lease (and the Base Rent and Additional 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 render a statement or collect that Rent for that or any subsequent period. The rendering of an incorrect statement shall not waive Landlord’s right to render a corrected statement for the period covered by the incorrect statement and collect the correct amount of the Rent.
(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 item of Rent within ten (10) days after the same becomes due Person or party upon reasonable advance written notice to Tenant from Landlord; Landlord acknowledging and payable hereunder, a “Late Charge” equal agreeing that Tenant shall be entitled to five percent (5%) of rely upon such unpaid amount will be due and payable with the next installment of Base Rent by written notice without liability to Tenant to Landlordthe extent Tenant makes such payments as directed.
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Rent. A. Tenant covenants to (a) Commencing on the date that is one hundred twenty (120) days after the Sublease Commencement Date (“Rent Commencement Date”), Subtenant shall, without deduction, demand, notice from Sublandlord, or right of offset, pay to Landlord Sublandlord for each month during the Sublease Term as annual basic rent (“Basic Rent”) in the amount set forth in the following table: Rent Commencement Date through first day of calendar month following calendar month in which anniversary of Rent Commencement Date occurs (such period, “First Lease Year”) $13,306.88 12- month period following expiration of First Lease Year (“Second Lease Year”) $13,706.08 the period following Second Lease Year through Sublease Expiration Date $14,117.26 All payments of Basic Rent shall be made in lawful money of the United States, in advance on the first (1st) day of each calendar month during the Sublease Term, without any setoff or deduction except the first payment of Basic Rent to be made as otherwise expressly provided herein, of the full amount of all Base Rent date this Sublease is executed and Additional applied against the first Basic Rent due hereunder hereunder. Payments in respect of a period less than a full calendar month shall be prorated based on the actual number of days in such month during the Sublease Term.
(b) Commencing on November 1, 2010 and continuing through the full amount of all such other sums of money as shall become due under this LeaseSublease Term, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments payment of the Rent on which the tax is based. Base Rent and Additional Rent for Basic Rent, Subtenant shall pay to Sublandlord, as to each calendar year or portion thereof during the Lease Sublease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Termas additional rent (“Passthrough Rent”), without deduction, demand. If , notice from Sublandlord, or right of offset, (i) Subtenant’s Percentage Share (as hereafter defined) of the Lease Term commences on a day other than amount by which Operating Expenses (as defined in the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if anyLease) for such month calendar year exceed Operating Expenses in calendar year 2010 (“Subtenant’s Expense Payment”) and (ii) Subtenant’s Percentage Share of the amount by which Tax Expenses (as defined in the Lease) for such calendar year exceed the Tax Expenses in calendar year 2010 (“Subtenant’s Tax Payment”). As used herein, “Subtenant’s Percentage Share” shall mean Four and 85/100 percent (4.85%) (7,097 divided by 146,189). At Subtenant’s request, Sublandlord shall deliver to Subtenant any statements, invoices, or months shall be prorated, based on other materials delivered to Sublandlord by or at the number direction of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first with respect to the earliest accrued Passthrough Rent. Subtenant shall have no right to dispute the Operating Expenses and unpaid Rent then outstanding. Tenant’s covenant Tax Expenses once the same is agreed upon by or adjudicated, pursuant to pay Rent shall be independent of every other covenant any dispute mechanism is set forth in this Lease.
B. If Tenant fails the Lease or applicable at law, by Sublandlord and Landlord. The obligations to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable make payments hereunder, a “Late Charge” equal which obligations arise during and relate to five percent (5%) the period prior to termination or expiration of such unpaid amount will be due and payable with this Sublease, shall survive the next installment termination or expiration of Base Rent by Tenant to Landlordthis Sublease.
Appears in 1 contract
Rent. A. (a) Tenant covenants to shall pay to Landlord an annual base rental based on the base rent per rentable square foot amount specified in the Schedule (“Base Rent”), in twelve equal monthly installments. Each installment of such Base Rent, together with one-twelfth (1/12) of the Base Rent Adjustment (as defined in Section 5(d) hereof) shall be due and payable in advance, without notice, demand, reduction, setoff or any defense, on the first day of each calendar month during the Lease Term, without any setoff or deduction except as otherwise expressly provided Term of this Lease. Final Base Rent to be based on the Rentable Area pursuant to Section 5 of the Lease.
(i) As used herein, the term “Lease Year” shall, in the case of the first Lease Year, mean the period which commences with the Occupancy Date and terminates on the last day of the twelfth (12th) full amount calendar month after the Occupancy Date, and such first Lease Year shall, therefore, include twelve (12) full calendar months plus the partial month, if any, at the Occupancy Date, if the Term does not commence on the first day of all Base Rent a calendar month. Each subsequent Lease Year shall mean a period of twelve (12) full calendar months commencing with the date following the last day of the first Lease Year, and Additional Rent due hereunder commencing with each subsequent annual anniversary of such day. The last Lease Year of the Term shall be the period that commences on the day immediately following the last day of the preceding Lease Year and terminates on the last day of the Term, and the parties recognize that such last Lease Year may be less than twelve (12) full amount calendar months, depending upon the date of termination of the lease term.
(b) Tenant shall also pay Landlord as additional rent all such other sums of money as shall become due from and payable by Tenant to Landlord under this LeaseLease (the “Additional Rent”). Base Rent, the Base Rent Adjustment, Additional Rent and any and all of which hereinafter may other amounts due hereunder shall be collectively called referred to herein as the “Rent.” In addition, All Rent shall be payable to Landlord at the address set forth on the Schedule unless Landlord shall provide Tenant written notice of a new address for the delivery of Rent pursuant to Section 39 hereof. Tenant shall pay, pay to Landlord as Additional RentRent any sales, all rent, sales and use taxes or other similar taxestax (excepting corporate excise and income tax) that may be levied upon or in any way measured by this Lease or the rents payable by Tenant, if anynotwithstanding the fact that a statute, levied ordinance or imposed by any city, state, county or other governmental body having authority, enactment imposing the same may endeavor to impose such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 demandupon Landlord. If the Term of this Lease Term commences on a any day other than the first day of a calendar month or terminates on a any day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number . Any payment of days in such month. All amounts Rent not 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after of the same becomes date when due shall be deemed delinquent and payable hereunder, Tenant shall pay to Landlord on demand a “Late Charge” late charge equal to five percent (5%) of the amount of such unpaid Rent. Tenant acknowledges that such late charge is not a penalty, but is to compensate Landlord for the additional administrative expenses and other expenses incurred by Landlord in handling delinquent payments (which expenses are not readily ascertainable), and is in addition to, not in lieu of, interest on late payments as provided herein and any other remedies that Landlord may have by virtue of Tenant’s failure to make payments when due. Rent or other payments due hereunder, if not paid when due, shall bear interest at a rate equal to the lesser of twelve percent (12%) per annum or the maximum lawful rate of interest chargeable under the laws of the State of Tennessee, from the date due until paid. In addition, Tenant shall pay to Landlord all costs of collection of the sums due hereunder including reasonable attorney fees. In the event Tenant provides a check in payment of Rent or any other amount will be due under this Lease, and payable with such check is dishonored for any reason, Tenant shall pay, in addition to any other charge or payment, a dishonored check charge in the next installment amount of Base Rent by Tenant to LandlordThirty-Five Dollars ($35.00).
Appears in 1 contract
Samples: Retail Lease Agreement
Rent. A. Tenant covenants to pay to Landlord during the Lease Term, in lawful money of the United States of America, without prior notice, or demand therefor and without any deduction, defense, counterclaim, setoff or deduction abatement whatsoever except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or the Lease Term terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s 's covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid. In addition, if Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes when due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent immediately by Tenant to Landlord.
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Rent. A. a. Payment of rent shall commence on December 15, 1988, except if (i) Landlord shall not substantially complete its inside work on the space by said date, rental shall not commence until such date as Landlord substantially completes its inside work on the space and obtains a Temporary or Permanent Certificate of Occupancy; or (ii) in the event that Tenant shall take occupancy and operates its business of any portion of the space prior to said date, the rental shall commence as of said occupancy date. Landlord agrees to give Tenant ten (10) days written notice of the commencement of the term of the Lease. In the event that Landlord shall provide Tenant with a Temporary Certificate of Occupancy, Landlord will diligently proceed to obtain a Permanent Certificate of Occupancy. Tenant may begin any work from the date hereof Tenant may wish to do so long as said work does not unreasonably interfere with Landlord's work. Landlord agrees that it shall diligently correct any "punch list" items that are Landlord's responsibility under this Lease.
b. In the event that the Commencement Date does not occur by December 15, 1988, Tenant may elect by written notice to Landlord received by Landlord no later than December 31, 1988 to postpone the Commencement Date until February 1, 1989. In such event, notwithstanding the Commencement Date occupancy prior to February 1, 1989, the Commencement Date shall not deemed to have occurred until February 1, 1989, unless Tenant shall take occupancy and operates it business prior to said date. Anything contained herein to the contrary
c. Tenant covenants and agrees to pay to Landlord during the term of this Lease Terma fixed annual rental for said demised premises in equal monthly installments as follows: FIXED ANNUAL MONTHLY PERIOD RENTAL INSTALLMENTS ------ ------------ ------------ First Lease Year Second Lease Year Third Lease Year Fourth Lease Year Fifth Lease Year Sixth Lease Year through Seven and One-Half Seven and One-Half through Tenth
d. Except as otherwise provided, all payments of rent shall be made by the Tenant to the Landlord without notice or demand in equal monthly installments, in advance, without any setoff set-off or deduction of any kind (except as otherwise expressly provided hereinin the case of a judgment obtained by Tenant), the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 and every calendar month during of each lease year. In the Lease Term, without demand. If event that the Lease Term commences on a day Commencement Date shall be other than the first (1st) day of a month or terminates the month, the rent shall be pro rated on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 Leaseper diem basis.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
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Samples: Lease (Viasource Communications Inc)
Rent. A. 4.01 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder for the Term (collectively referred to as “Rent”). “Additional Rent” means Tax and the full amount Expenses and payments by Tenant of all such other sums of money as shall become due any non-separately metered utilities that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. 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 without notice or demand, provided that the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent for Lease Month 7 of the Term, and the first monthly installment of Additional Rent or any for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other item items of Rent within ten shall be due and payable by Tenant on or before thirty (1030) days after billing by Landlord. Rent shall be made payable to the same becomes due entity, and payable hereundersent to the address, a “Late Charge” 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 five percent (5%) of such unpaid all past due Rent, provided that Tenant shall be entitled to a grace period of ten (10) days for the first (1st) late payment of Rent in a calendar year. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum from the due date until actually paid. Landlord’s acceptance of less than the correct amount will of Rent shall be due 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 payable satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease. Tenant shall pay Tenant’s Pro Rata Share of Taxes and Tenant's Pro Rata Share of Expenses in accordance with the next installment Exhibit B of Base Rent by Tenant to Landlordthis Lease.
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Rent. A. 7.1. Tenant covenants to shall pay to Landlord as Base Rent for the Premises, commencing on the later of (a) May 1, 2020, and (b) one (1) calendar month after the Term Commencement Date if the Term Commencement Date occurs after March 31, 2020 (such later date, the “Rent Commencement Date”), the sums set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all .
7.2. In addition to Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below), and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all rentother sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, sales terms, covenants and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments conditions of this Lease to be in addition to all other payments required to be paid to Landlord performed by Tenant under this LeaseTenant, after notice and the lapse of any applicable cure periods. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based{A0622646.2 } 7
7.3. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall together be denominated “Rent.” Rent shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Termpaid to Landlord, without demandabatement, 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. If In the Lease event the Term commences or ends on a day other than the first day of a month or terminates on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) for such fraction of a month or months shall be prorated, based prorated for such period on the basis of the number of days in such month. All amounts received by Landlord from Tenant hereunder the month and shall be applied first to paid at the earliest accrued and unpaid Rent then outstandingthen-current rate for such fractional month.
7.4. Tenant’s covenant obligation to pay Rent shall not be independent 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 set forth 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 Lease.
B. If Tenant fails sentence shall in any way affect Tenant’s obligations with respect to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordperiod.
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Rent. A. 4.1. Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff notice, demand, or deduction except in lawful money of the United States of America, at Landlord's Address for Notices in Section 33.9, or at such other place as otherwise expressly provided herein, Landlord shall designate in writing from time to time: (a) the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leasein equal monthly installments, all of which hereinafter may be collectively called “Rent.” In additionin advance, Tenant shall pay, as Additional Rent, all rent, sales and use taxes on or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on before the first day of each calendar month during the Term; and (b) the Additional Rent, 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 Termand applied to the first installment of Base Rent coming due under this Lease. Payment of Rent shall begin on the Commencement Date; provided; however, without demand. If that if either the Lease Commencement Date or the expiration of the Term commences falls on a day date other than the first day of a calendar month, the Rent due for such fractional month or terminates shall be prorated on a day other than per diem basis between Landlord and Tenant so as to charge Tenant only for the last day portion of a month, then such fractional month falling within the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstandingTerm. Tenant’s 's covenant to pay Rent hereunder is independent of any other covenant, condition, provision or agreement herein contained. All past due installments of Rent shall be independent subject to a late charge of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) simple of the past due amounts.
4.2. The Base Rent shall be escalated as specified in Section 1(L) of this Lease commencing on the first 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 on each and every anniversary of such unpaid amount will be due and payable with escalation date thereafter during the next installment Term of Base Rent by Tenant to Landlordthis Lease.
Appears in 1 contract
Samples: Lease Agreement (Quixote Corp)
Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Termpay, without demand and without any setoff offset or deduction except whatsoever, and Landlord agrees to accept as otherwise expressly provided hereinrent for the Premises, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this LeaseSeven Thousand Three Hundred Sixty Dollars ($7,360.00), all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments advance, on the first day of each calendar month, in equal installments of Six Hundred Thirteen Dollars and Thirty-three Cents ($613.33) a month during the term of this Lease. Rent shall be prorated for any initial or final fractional months of any Initial or Renewal Term of this Lease. Prorated rent due for any initial fractional month of the Lease Termshall be due on the date this Lease is executed. Landlord reserves the right, without but shall not be obligated, to perform, or to pay for the performance of, any act required of Tenant hereunder or the cure of any default hereunder which is not performed by Tenant within any applicable grace period. Any sums so expended by Landlord shall be due and payable by Tenant immediately upon written demand. If the Lease Term commences on a day Any such sums, along with any other than the first day monetary obligations of a month or terminates on a day Tenant hereunder, and any other than the last day of a month, then the installments of Base Rent (if any) sums so designated herein shall be considered “Additional Rent.” All such rent and Additional Rent (if any) for such month or months shall be proratedpayable and paid in lawful money of the United States of America, based on the number of days in such monthwithout relief from valuation or appraisement laws. All amounts received by Landlord from rent, Additional Rent and any other monetary obligations of Tenant hereunder which remain unpaid after written notice thereof from Landlord, shall be applied first bear interest at the rate of eight percent (8%) per annum. Tenant shall pay Landlord’s reasonable attorneys’ fees for collection of the same. In addition 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. If interest, if Tenant fails to pay any installment of Base Rent and rent or Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunderpayable, Tenant shall pay a “Late Charge” equal late payment service charge of $50.00 for each full or partial calendar month that any such amount remains unpaid. At the end of each calendar year, Landlord shall determine the amount of the aggregate percentage increase, during such calendar year, in the per unit costs of the heat, electricity, gas, water, sewage, or any other utilities or utility services to five percent (5%) the Old Vanderburgh County Courthouse. Effective at the beginning of the subsequent calendar year, Landlord shall be entitled to an increase in the rent due hereunder during such unpaid amount will calendar year, which increase shall be due and payable with based upon such aggregate percentage increase in utility costs, if any, during the next installment of Base Rent by Tenant to Landlordpreceding year.
Appears in 1 contract
Samples: Lease Agreement
Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid deliver to Landlord by Tenant under this the original executed Lease. Such payments shall be paid concurrently with , the payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder which shall be applied against the Rent payable for the first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant month Tenant is required to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent Rent), the Security Deposit, and Additional Rent or any other item of Rent within ten (10) days after thereafter, all insurance certificates evidencing the same becomes due and payable hereunderinsurance required to be obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay Landlord, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with without prior notice or demand, or abatement, offset, deduction or claim, the next installment of Base Rent by specified in the Basic Lease Information, payable in advance at Landlord's address specified in the Basic Lease Information on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In addition to the Base Rent set forth in the Basic Lease Information, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to Landlordoccupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be paid on the Commencement Date and the first day of the calendar month in which the date of termination occurs, as the case may be.
Appears in 1 contract
Samples: Lease Agreement (Ditech Corp)
Rent. A. Tenant covenants Subject to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly abatement provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additionfor in Paragraph 1(c), Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with pay the payments first full monthly installment of Base Rent on the Rent on which the tax is based. Base Rent and 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 demandCommencement Date. If the Lease Term commences Rent Commencement Date occurs on a day other than the first day of a month or terminates on a day other than the last day of a calendar month, then the installments Base Rent for such calendar month shall be prorated and the balance of the first month’s Base Rent therefore paid shall be credited against the next monthly installment of Base Rent. Subject to the abatement provided for in Paragraph 1(c), beginning with the first calendar month immediately following the Rent Commencement Date, Tenant shall pay each monthly installment of Base Rent (if any) and Additional Rent (if any) in advance on or before the first calendar day of each month, together with each monthly installment of the Operating Payment, as defined below. Monthly installments for such month any fractional calendar month, at the beginning or months end of the Term, shall be prorated, prorated based on the number of days in such the month. All amounts received Tenant shall pay any and all sales, excise and other taxes (excluding Landlord’s income taxes) levied, imposed, or assessed by Landlord the United States of America, the State of California, or any political subdivision thereof or other taxing authority upon the Base Rent or any Additional Rent payable hereunder (“Rent Tax”). The Operating Payment, the Rent Tax, and all other payments due under this Lease from Tenant other than Base Rent due hereunder shall be applied first deemed Additional Rent. Base Rent and Additional Rent, together with all other amounts payable by Tenant to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent Landlord under this Lease, shall be independent of every sometimes referred to collectively as “Rent”. Tenant shall pay all Rent to Landlord or Managing Agent at the Rent Payment Address or at such other covenant set forth place designated by Landlord in this Lease.
B. writing in accordance with Paragraph 43 below. If Tenant fails to pay make any installment of Base Rent and Additional Rent or any other item payment of Rent within ten five (105) days after the same becomes due and payable hereundersuch payment is past due, then Tenant shall pay a “Late Charge” equal to five late charge of four percent (54%) of the amount of the payment, provided, however that no such unpaid amount will late charge shall be imposed on the first (1st) past due payment in any twelve (12) month period. Such late charge shall constitute Rent, and shall be due immediately. Such late charge shall be in addition to, and payable with the next installment of Base Rent by Tenant not in lieu of, all other rights and remedies provided to Landlord.Landlord in this
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Rent. A. (a) Tenant covenants to shall pay to Landlord during each Lease Year the Lease TermBase Rent, without any setoff or deduction except as otherwise expressly provided herein, in equal monthly installments in the full amount of all one-twelfth of the Base Rent on the Commencement Date and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 succeeding calendar month during the Lease TermTerm of this Lease; provided that the rent payable on the Commencement Date ------------- shall be prorated for the remaining days left in the calendar month in which the Commencement Date occurs. All payments of Base Rent shall be paid in advance, without demandnotice, set-off or deduction, in lawful money of the United States, at the address of Landlord set forth in Section 40 of this Lease, or at such other place as Landlord may from time to time designate in writing. If The amount of the Base Rent for each Lease Term commences Year after the first Lease Year shall be increased to an amount determined by multiplying the amount of the Base Rent in effect for the preceding Lease Year by an adjustment factor which factor shall be calculated in the following manner. Such adjustment shall be calculated by first determining the All Items Consumer Price Index for All Urban Consumers, CPI-U, Denver (1967 equals 100), as determined by the United States Department of Labor, Bureau of Labor Statistics as of both the latest date preceding the date of commencement of the preceding lease year and as of the latest date possible in the lease year just preceding the commencement of the next following lease year. Upon receipt of the second of such index figures, the percentage of the increase, if any, of the second of such figures over the first, shall be calculated therefrom (such percentage increases are herein referred to as the "Index Percentage Change"). An annual rental increase (herein referred to as Escalation Rent) shall then be computed by multiplying the Index Percentage Change times the last preceding Base Rent Annual rate as adjusted and set forth in Section 4. Tenant shall pay one-twelfth (1/12) of the resulting Escalation Rent each month during the ensuing lease year at the same time Tenant pays the Base Rent. Such payments shall commence on a day other than the first day of a the month or terminates on a day other following Tenant's receipt of notice setting forth such increase, which notice shall be sent within sixty (60) days of the beginning of each new Lease Year. The first monthly rental payment which includes new Escalation Rent shall also include the Escalation Rent, if any, for each month in the then current lease year which elapsed prior to Tenant's receipt of Landlord's notice. If there is no increase in Index Percentage Change, there shall be no adjustment, but in no event shall the Base Rent and Escalation Rent payable be less than the last day of a month, then the installments of Base Rent (if any) and Additional Escalation Rent (if any) for such month or months shall be prorated, based on paid during the number of days in such monthpreceding lease year. All amounts received by Landlord from Tenant The Base Rent due hereunder shall be applied first apportioned for any fractional calendar months at the beginning and end of the Term of this Lease and any renewals and extensions thereof.
(b) If the index specified in Section 4(a) above is discontinued in its current form, or if the basis on which it was calculated should be revised, an appropriate conversion of the revised index to a common base will be made upon conversion factors published by the Bureau of Labor Statistics or upon conversion factors otherwise made available.
(c) In addition to the earliest accrued Base Rent and unpaid Rent then outstanding. Tenant’s covenant to the Escalation Rent, Tenant shall pay Rent shall be independent Landlord in monthly installments simultaneously with payments of every other covenant the Base Rent, one-twelfth (1/12th) the Base Operating Cost times the Premises Rentable Area and 100% of the Operating Cost adjustment determined as set forth in Section 6, and such other charges as are required by the terms of this Lease.
B. If Tenant fails Lease to pay any installment be made by Tenant. Any such adjustment or change shall be deemed to be additional rent and shall be payable in the manner provided for the payment of Base Rent and Additional Rent or any other item shall be recoverable as Base Rent, and Landlord shall have all rights against Tenant for default in payment thereof as in the case of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment arrears of Base Rent by Tenant to LandlordRent.
Appears in 1 contract
Rent. A. 5.01 On the Rent Commencement Date as defined in Article 1 hereof, Tenant covenants to shall pay to Landlord without notice or demand and without abatement, deduction or set-off, in lawful money of the United States of America, at the office of the Landlord as set forth in Article 1 hereof, or at such other place as Landlord may designate, the Fixed Rent reserved under this Lease for each year of the Term, payable in equal monthly installments in advance on the first day of each and every calendar month during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount additional rent consisting of all such other sums of money as shall become due under this Lease, all from and payable by Tenant to Landlord hereunder (for default in payment of which hereinafter may be collectively called “Landlord shall have the same remedies as for a default in payment of Fixed Rent).” In addition
5.02 On the Rent Commencement Date, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with pay the payments of the Rent on which the tax is based. Base Fixed Rent and Additional Rent for each calendar year or portion thereof during additional rent herein reserved promptly as and when the Lease Term, same shall be become due and payable under this Lease and shall be liable to the Landlord for an administrative charge of 4% for rent paid subsequent to the date set in advance in monthly installments on the first day of each calendar month during the Lease Term, without demandArticle 5.01. If the Lease Term commences Rent Commencement Date shall occur on a day other than the first day of a calendar month or terminates on a day other than the Fixed Rent and additional rent shall be prorated for the period from the Rent Commencement Date to the last day of a month, then the installments of Base Rent (if any) said calendar month and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with on the Rent Commencement Date. Notwithstanding the provisions of the next installment preceding sentence, Tenant shall pay on account toward the first full calendar month installment(s) of Base Fixed Rent, on the execution of this Lease, the Rent by Tenant Prepayment specified in Article 1 hereof.
5.03 Whenever used in this Lease, the term (insofar as it pertains to Landlordthis 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 Fixed Rent; and whenever used in this Lease, the term (insofar as it pertains to this Lease) “rent”, “rental”, “Rent” or the plural of any of them, shall mean Fixed Rent and additional rent.
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Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as may be otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to shall be equitably allocated as reasonably determined by Landlord, and shall be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid, provided, Tenant shall be entitled to a grace period of five (5) business days after notice from Landlord with respect to the first two (2) late payments in any calendar year. In addition, if Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes when due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.payable
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Rent. A. 4.1 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of all such other sums of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes or other similar (but excluding income taxes), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. 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 (1st) day of each calendar month during without notice or demand, provided that the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments installment of Base Rent for the 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 before thirty (if any30) days after billing by Landlord. Rent shall be made payable to the Landlord entity, and sent to the address, Landlord designates from time-to-time in writing (currently c/o Granite Properties, Inc, Attn: Xxxxxxx Xxxxx, 0000 Xxxxxxx Xxxx, Xxx 0000, Xxxxx, Xxxxx 75024) and Additional shall be made by good and sufficient check or by other means acceptable to Landlord. Landlord shall have the right to require Tenant to submit Rent payments via ACH transfer to an account designated by Landlord in writing to Tenant from time-to time. 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 (if any1st) late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum. 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 such any partial month or months during the Term shall be prorated, based . No endorsement or statement on the number of days in such month. All amounts received by Landlord from Tenant hereunder a check or letter accompanying payment shall be applied first to the earliest accrued considered an accord and unpaid Rent then outstandingsatisfaction. Tenant’s covenant to pay Rent shall be is independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
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Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments sums required of Lessee herein to be paid paid, Lessee shall pay, and hereby unconditionally promises to Landlord by Tenant under pay to Lessor without demand, deduction or set-off, and without any contingency or excuse whatever, all the sums provided for in this LeaseSection 4.1. Such payments The Lessor will invoice Lessee for each monthly rent at least five (5) business days prior to the due date of the monthly rent and each monthly payment of rent shall be paid concurrently with transmitted by Lessee to Lessor at such time and in such manner as to be actually received by Lessor on or before the payments of the Rent day on which such payment is due. Commencing on the tax is based. Base Rent Commencement Date and 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 thereafter occurring during the Primary Term of this Lease TermAgreement, without demandLessee shall pay Lessor rental as set forth below (“Rent”); provided, however, so long as Lessee has not defaulted hereunder past any applicable notice and/or cure periods, the Rent for the period from the Commencement Date until the earlier of (a) the end of Lease Year 1 and (b) the date of full energization of Tenant’s operations in the Building Premises is installed (for the avoidance of doubt, the completion of the construction of certain electric facilities in the AEP Premises shall not be deemed as the full energization of Tenant's operations) (the “Initial Rent Reduction Period”) shall be reduced by [***] (the “Initial Rent Reduction”). If at any time Lessee defaults under this Lease past any applicable notice and/or cure period, the Initial Rent Reduction Period shall immediately terminate and Lessee shall be responsible for the entire Rent for Lease Term commences Year 1 (without regard to the Initial Rent Reduction). Commencing on a day other than the first day of a month or terminates on a day other than the last day of a monthFirst Extended Term, then and each anniversary thereof occurring during any Extended Term, Annual Rent for the installments of Base Office Premises shall increase by [***]. The Rent (if any) and Additional Rent (if any) for such month or months the Ground Premises shall be prorated, based on adjusted to reflect the number actual acreage of days in such monththe Ground Premises following the removal of the AEP Premises. All amounts received The funds represented by Landlord from Tenant hereunder each Rent payment made by Lessee to Lessor shall be applied first to and become the earliest accrued property of Xxxxxx as and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Leasewhen paid.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
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Rent. A. 4.1. Master Tenant covenants to pay to Landlord during Landlord, in lawful money of the Lease TermUnited States of America, without notice or demand and without any setoff set-off, deduction or deduction abatement whatsoever (except as otherwise expressly provided set forth herein), the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, follows:
4.1.1. Master Tenant shall paypay the annual amount as set forth and identified as “Base Rent” on Exhibit A hereto (“Base Rent”), as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments arrears on the first last day of each calendar month during the Lease TermTerm of this Agreement, without demandor, if earlier, no later than such other day as may be required by the holder of a Permitted Mortgage under its applicable Loan Documents. If Notwithstanding the Lease Term commences foregoing, as an administrative convenience to Landlord, Landlord hereby irrevocably directs Master Tenant to pay such Base Rent directly to the holder of any Permitted Mortgage, or otherwise in accordance with any Permitted Mortgage, on or before the due date thereunder. Landlord will, for purposes of this Section, keep Master Tenant informed of any changes to such obligations; and
4.2. [Intentionally omitted].
4.3. Any Rent not paid when due shall bear interest from the due date at the Default Rate until paid in full.
4.4. [Intentionally omitted].
4.5. In the event that the Projected Uncontrollable Costs for any calendar year (or stub period thereof, in the event that a day other than lease year begins after January 1 of a calendar year or ends before December 31 of a calendar year) exceed the actual Uncontrollable Costs for such calendar year or stub period thereof, Master Tenant shall pay to Landlord, as additional Rent hereunder, the amount of such excess, within ninety (90) days following the end of the applicable calendar year (or stub period thereof). If, however, the actual Uncontrollable Costs for any calendar year (or stub period thereof) exceed the Projected Uncontrollable Costs for such calendar year (or stub period thereof) (such amount the “Excess Uncontrollable Costs”), then Master Tenant shall be responsible for payment of such Excess Uncontrollable Costs, but shall be entitled to reimbursement of such Excess Uncontrollable Costs by offsetting such amount against Rent payable to the Trust pursuant to Section 4.1.2 beginning with the first day lease month that begins on or after ninety (90) days following the end of such calendar year (or stub period thereof), and against such amounts payable to Landlord in later months, if and as needed, until the full amount of the Excess Uncontrollable Costs incurred for such calendar year (or stub period thereof) have been reimbursed to the Master Tenant. Notwithstanding the foregoing, so long as a Permitted Mortgage is outstanding, Master Tenant shall not xxxxx any Base Rent or Impositions.
4.6. To the extent that monthly escrows are required by a holder of a month Permitted Mortgage, Master Tenant shall deposit monthly with Landlord (or terminates on a day other than the last day of a monthLandlord’s designee), then the installments simultaneously with its payment of Base Rent Rent, one-twelfth (if any1/12) of the Impositions and Additional Rent (if any) premiums for insurance required under Section 8 hereof, which amounts may be adjusted from time to time depending on such month or months shall be proratedImpositions and insurance premiums from time to time, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant sufficient to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordwhen due.
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Samples: Master Lease Agreement (Jones Lang LaSalle Income Property Trust, Inc.)
Rent. A. (a) Tenant covenants to shall pay to Landlord as "BASE RENT" for each Lease Year during the Lease Initial Term the sum of Sixty-Six Thousand and No/100 Dollars ($66,000.00), payable in advance, in equal monthly installments of Five Thousand Five Hundred and No/100 Dollars ($5,500.00). If Tenant exercises its option(s) to extend the Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, pay as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Renewal Term(s) a rental based upon the "market rate" for the Premises. The first and last monthly installments are due and payable on the execution of this Lease Term, shall be and the remaining installments are due and payable in advance in monthly installments on the first day of each calendar and every month during the Lease Term, without demand. If offset or deduction, to Landlord at the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 address set forth in PARAGRAPH 26 or at such other place as Landlord may hereafter designate in writing. Rent checks are to be made payable to Landlord, or such other person, firm or corporation as Landlord may designate in writing.
(b) All sums due and payable by Tenant under this Lease other than Base Rent are "ADDITIONAL RENT", whether or not so called in the text of this Lease.
B. If Tenant fails to pay any installment of Base Rent and . Any Additional Rent or any other item of Rent for which no time for payment is specified in this Lease shall be due and payable within ten (10) days after the same becomes demand is made therefor.
(c) All Rent, whether Base Rent or Additional Rent, is due and payable hereunderin full without demand, a “Late Charge” equal deduction or set-off and Tenant's obligation to pay the same shall survive the expiration or other termination of this Lease. Tenant's covenant to pay Rent is an independent covenant.
(d) Rent shall be equitably pro rated for any partial Lease Year or calendar year, as the case may be, during the Term.
(e) For each Renewal Term, Tenant shall notify Landlord that Tenant desires to exercise its option to extend the Term of this Lease for the next ensuing five percent (5%) year period, and to obtain an appraisal of the Premises to determine the market rent for the Premises by delivering written notice to Landlord not less than one hundred twenty (120) days prior to the beginning of each Renewal Term. Tenant shall include in such notice the name of an MAI appraiser selected by Tenant which has an office in Licking County, Ohio. Landlord shall within thirty (30) days following receipt of such unpaid amount will notice from Tenant give written notice to Tenant setting forth the name of a second MAI appraiser with an office in Licking County, Ohio. If Landlord fails to notify Tenant of the name of an appraiser within the thirty (30) day period, then the appraiser selected by Tenant shall determine the market rent and the decision of said appraiser shall be due and payable binding upon the parties hereto. If Landlord has selected an appraiser in accordance with the next installment provisions of this Paragraph, then the appraiser selected by Landlord and the appraiser selected by Tenant shall meet and select a third MAI appraiser with an office in Licking County, Ohio. The appraiser selected by Landlord and the appraiser selected by Tenant shall each appraise the Premises for purposes of obtaining said market rent. The third appraiser shall determine and notify Landlord and Tenant which of the two appraisals made by Landlord's and Tenant's appraisers more closely reflects the market rent of the Premises, and the decision of the third appraiser shall be binding upon the parties hereto. Notwithstanding anything in this paragraph to the contrary, in no event shall the Base Rent by Tenant to Landlordfor any Renewal Term be less than the Base Rent for the previous Renewal Term or the Initial Term, as applicable.
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Rent. A. (a) Tenant covenants to shall pay to Landlord during Landlord, as base rent (the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, “Monthly Base Rent”) for the full amount Premises for the initial twelve (12) months of all Base Rent and Additional Rent due hereunder and the full amount Term of all such other sums of money as shall become due under this Lease, all a monthly amount equal to Twenty Seven Thousand Nine Hundred Dollars ($27,900.00), subject to any credit provided in this Lease if Tenant does not expend the entire Tenant Improvement Allowance (as defined and provided in Exhibit C), the Incentive Credit (as defined herein) and/or any abatement of which hereinafter may be collectively called “Rent.” In additionRent provided in Paragraph 2(b) hereof. Subject to Paragraph 2(b) below, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments the Monthly Base Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 TermTerm of this Lease, without demandprovided such Monthly Base Rent will be subject to increase as provided in Paragraph 2(d), below. The Monthly Base Rent shall be in addition to all other amounts required to be paid to Landlord pursuant to the provisions of this Lease.
(b) If the Term of this Lease Term commences on a day date other than the first day of a calendar month, rent for the period from the date of commencement of the Term hereof through the last day of the calendar month or terminates in which such Term commences shall be prorated on the basis of a thirty-day month. In the event the Term of this Lease ends on a day other than the last day of the calendar month, rent for the period from the first day of the last calendar month of such Term to the end of such Term shall be prorated on the basis of a thirty-day month. One (1) full month of Monthly Base Rent will be payable in advance upon execution of this Lease, and shall be applied as a credit against installment(s) of Monthly Base Rent due hereunder. If the Commencement Date does not occur by the Deadline Date and the cause of the delay in the occurrence of the Commencement Date is not attributable to Tenant’s interference with Landlord’s completion of the Initial Improvements (it being understood that Tenant shall not be entitled to an abatement of Monthly Base Rent for each day of any such delay attributable to Tenant’s interference), then the Monthly Base Rent provided and reserved in section (a) above shall be abated one (1) day for each day of delay in delivery of the Premises to Tenant beyond the Deadline Date. In addition, Tenant will be entitled to a credit of Fifty Thousand Dollars ($50,000.00) against Monthly Base Rent hereunder (the “Incentive Credit”), to be applied against payments of Monthly Base Rent until such Incentive Credit is exhausted.
(c) The installments of Base Rent (if any) and Additional Rent (if any) for such month or months rent specified herein shall be proratedpaid, based on the number of days in without deduction or offset, and without prior notice or demand, except as otherwise specifically provided herein, to Landlord at 0000 Xxxx Xxxxxx, Xxxxx 000, Xxxxx, Xxxxxxxxxx 00000, or at such monthother address as Landlord may from time to time specify by written notice to Tenant. All amounts received of money payable by Tenant to 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent hereunder, if not paid within a ten (10) days after day grace period commencing when due, shall bear interest from the same becomes due date until paid at the rate of 7% per annum or the highest amount allowed by applicable law, whichever is less.
(d) On the first anniversary date of the Commencement Date, (or, in the event said first anniversary date occurs on a date other than the first day of a calendar month, on the first day of the thirteenth (13th ) full calendar month of the Term of this Lease,) and payable hereunderon each succeeding anniversary date thereof, a “Late Charge” equal to five the Monthly Base Rent for the next succeeding twelve-month period of the Term of this Lease shall be increased by three percent so that the Monthly Base Rent for the following twelve (12) month period will be one hundred three percent (5103%) of such unpaid amount will be due and payable with the next installment of Monthly Base Rent by Tenant to Landlordin effect in the month immediately preceding the month in which the adjustment occurs as follows: Months 1-12* $ 27,900.00 * Months 13-24 $ 28,737.00 Months 25-36 $ 29,599.11 Months 37-48 $ 30,487.08 Months 49-60 $ 31,401.70 * (plus the prorated portion for any partial month due at the commencement of the Term).
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Samples: Lease (Marrone Bio Innovations Inc)
Rent. A. 4.1 Tenant covenants hereby agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinBase Rent in accordance with the terms of this Lease. For purposes of Rent adjustment under the Lease, the full amount 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 Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under and payable by Tenant as set forth in this Lease, 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 Base Rent, the Monthly Rent and the Additional Rent are sometimes hereinafter may be collectively called “Rent” and shall be paid when due in lawful money of the United States without demand, deduction, abatement (except as otherwise expressly provided in this Lease), 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. Notwithstanding anything to the contrary contained in this Lease, Tenant may pay Base Rent or any other Rent payments to Landlord required hereunder by Federal Reserve Automated Clearing House (ACH) deposit to an account as directed by Landlord by written notice to Tenant from time to time; provided that 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.”
4.2 In additionthe 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 paypay to Landlord a late charge (the “Late Charge”), as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments an amount of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the amount of such unpaid amount will late payment. Notwithstanding the foregoing, before a late charge is charged to Tenant the first time in any twelve (12) month period, Landlord shall provide Tenant written notice of the delinquency, and shall waive such late charge if Tenant pays such delinquency within five (5) business days of Landlord’s delivery of such written notice. Failure to pay any Late Charge shall be due deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and payable 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 next execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of the first installment of Base 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 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
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Rent. A. 4.01 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount of all such other sums of money Term (collectively referred to as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as ”). “Additional Rent, ” means all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments sums (exclusive of Base Rent) that Tenant is required to be paid to pay Landlord by Tenant under this Lease. Such payments shall be paid concurrently with Commencing on the payments of the respective Rent on which the tax is based. Commencement Date, 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 without notice or demand. All other items of Rent shall be due and payable by Tenant on or 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 in the amount of $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 if not paid within five (5) days of the due date, 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 oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based . No endorsement or statement on the number of days in such month. All amounts received by Landlord from Tenant hereunder a check or letter accompanying payment shall be applied first to the earliest accrued considered an accord and unpaid Rent then outstandingsatisfaction. Tenant’s covenant to pay Rent shall be is independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Rent. A. 5.1. Monthly rent that the Tenant covenants to shall pay to the Landlord during the first Term of Lease Term, without any setoff or deduction except within its meaning hereinabove shall be the monthly rent as otherwise expressly provided hereinspecified hereinabove. Statutory VAT shall be added to the said rent.
5.2. In addition to the Rent, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall paymake additional payment for the parking spaces, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Leasewithin their meaning hereinabove. Such payments The additional Parking Payment shall be paid concurrently together with the payments 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 Rent on which the tax is baseddate of signing this Agreement. Base Rent and Additional Rent for Two months prior to commencement of each calendar year or portion thereof during the Lease 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 due paid in new Israeli shekels and payable shall be linked to the index in advance 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 event of delay in monthly installments 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 on 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, 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 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 Landlord as said. Default in payment for a period that is longer than 7 days shall entitle the Landlord with interest in arrears as of the first day of each calendar month during default and until payment is made.
5.8. A default in payment for a period of 14 days shall constitute a fundamental breach of this Agreement, and in such circumstances the Lease Term, without demandLandlord shall not be obligated to deliver to the Tenant any additional notice prior to termination of the Agreement.
5.9. If The said in this sub-clause shall not derogate or affect the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months provisions set forth in clause 16 hereunder. Interest shall be prorateddeemed as rent.
5.10. To dispel any doubt, based furnishing the checks shall not be deemed as payment however only 3 days after their cashing on the number of days in such monthdates designated for that purpose. All 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 paid in the address of every other covenant the Landlord or shall be deposited in the Landlord’s bank account in accordance with the instructions set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after by the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, (a) The Tenant shall pay, as Additional Rent, pay all rent, sales rent and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required charges to be paid by the Tenant hereunder to Landlord the Authority at the office of the Authority in Richmond, Virginia, or to such other individual, firm or corporation and at such other place as may be designated by the Authority.
(b) The Tenant under this Leaseshall pay 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. Such payments No reduction or increase in rent shall be paid concurrently available for non-material discrepancies in actual square footage. 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 beginning with the payments second Lease Year by an amount equal to 3% of the last Monthly Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof payable during the preceding Lease Term, shall year.
(c) The Monthly Rent is to be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, term hereof without demandnotice or demand 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 Lease Term commences on Monthly Rent is not received in the Authority’s office within five (5) days after the first day of each rental month, there shall be imposed upon the Tenant a day other than late charge equal to 5% of the 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 month or terminates calendar month, the Tenant shall pay on a day other than the last first day of the first calendar month following the Commencement Date a month, then proportionate amount of the installments monthly Rent for the period of Base time from the Commencement Date to the date on which such first monthly payment is due.
(d) All amounts and charges in addition to the Monthly Rent (if any) and Additional Rent (if any) for such month or months required to be paid by the Tenant in accordance with the terms hereof shall be prorateddeemed to be additional rent (the "Additional Rent"). Such amounts or charges, based on if not paid at the number of days in such month. All 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 time provided in this Lease.
B. If Tenant fails to pay any , shall be collectible as Additional Rent with the next installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes rent due and payable hereunder, a “Late Charge” equal provided, however, that nothing herein contained shall be deemed to five percent (5%) suspend or delay the time for any payment to be made by the Tenant hereunder or to limit any other remedy of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordAuthority.
Appears in 1 contract
Rent. A. a. During each year of the Term, the Tenant covenants agrees to pay to Landlord during the Lease TermLandlord, without any setoff demand or deduction except as otherwise expressly provided hereinset off, in lawful money of the full amount of all Base Rent and Additional Rent due hereunder and United States, at the full amount of all such other sums of money as shall become due under address specified in this Lease, all or at such other location as the Landlord may hereafter designate in writing, Base Rent for the Premises in the amount of which hereinafter may be collectively called “RentOne Dollar ($1.00) per annum.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments
b. The annual Base Rent shall be paid concurrently with the payments in full in advance. The first payment of the Rent on which the tax is based. Base Rent shall be due and Additional payable on or before the Commencement Date. Each subsequent annual payment of Base Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on each anniversary date of the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Commencement Date.
c. The Base Rent (if any) and ), the Additional Rent (if any) for such month or months as defined below), and all other sums payable under the Lease shall be proratedpaid without notice, based on demand, counterclaim, set off, deduction, or defense and without abatement, suspension, diminution, or reduction, and the number obligations and liabilities of days the Tenant under the Lease shall in such month. All amounts received no way be released, discharged, or otherwise affected 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 reason of every other covenant set forth any occurrence whatsoever, except as otherwise expressly provided in this Lease.
B. If d. During the Term of this Lease, the Tenant fails shall also pay as additional rent ("Additional Rent") all sums, Impositions (as defined in Section 7 below), costs, expenses, and other payments that the Tenant is required to pay pay, either to the Landlord or to others, under the terms of this Lease. In the event of any installment 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 or any other item of Rent within ten (10) days after shall sometimes be referred to together in this Lease as the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordRent”.
Appears in 1 contract
Samples: Ground Lease
Rent. A. (a) Tenant covenants to shall pay to Landlord (or to Lender, if directed by Landlord or Lender), as minimum annual rent for the Leased Premises during the Lease Term, without any setoff the amounts calculated pursuant to the provision under the heading “Basic Rent” in Exhibit B attached hereto (“Basic Rent”), commencing on the Commencement Date for the succeeding, prorated month, and continuing regularly on the first (1st) calendar day of each month thereafter during the Term, in advance (the said days being called the “Basic Rent Payment Dates”). Tenant shall pay the Basic Rent at Landlord's address set forth in Paragraph 22 below, or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all at such other sums place as Landlord or Lender from time to time may designate to Tenant in writing, in funds which at the time of money such payment shall be legal tender for the payment of public or private debts in the United States of America and if required by Lender by wire transfer in immediately available federal funds to such account in such bank as Lender shall become due under this Leasedesignate, all from time to time.
(b) Tenant shall pay and discharge before the imposition of which hereinafter any fine, lien, interest or penalty may be collectively called “Rent.” In addition, Tenant shall payadded thereto for late payment thereof, as Additional Rent, all rent, sales other amounts and use taxes obligations which Tenant assumes or other similar taxes, if any, levied agrees to pay or imposed by any city, state, county or other governmental body having authority, such payments discharge pursuant to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease, together with every fine, penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. Such payments The first monthly installment of Tenant's Forecast Additional Rent shall be paid concurrently with due and payable on or before the payments Commencement Date; thereafter, monthly installments of the Rent on which the tax is based. Base Rent and Tenant's Forecast 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 succeeding calendar month during the Term. Tenant's Lease Agreement for Forest Park Medical Center at Southlake Additional Rent Adjustment shall be due and payable as follows: For each calendar year during the Term, without demandLandlord shall present to Tenant on or prior to December 15 of each year (or as soon as possible thereafter or for the calendar year in which the Commencement Date occurs, prior to the Commencement Date) a statement of Tenant's Forecast Additional Rent for the ensuing year (or portion thereof). If Landlord fails to promptly present to Tenant such statement, Tenant shall continue to pay Tenant's Forecast Additional Rent based upon the Lease Term commences on most recent prior statement presented by Landlord to Tenant until such statement is presented. By April 1 of each calendar year, or as soon thereafter as practicable, Landlord shall provide Tenant a day other than statement (the first day “Additional Rent Statement”) prepared by Landlord comparing Tenant's Forecast Additional Rent with Tenant's Additional Rent. If Tenant's Forecast Additional Rent exceeds Tenant's Additional Rent for the subject year, Landlord shall pay Tenant (in the form of a month credit against Rent next due or, if this Lease has then expired or terminates terminated, in the form of Landlord's check within thirty (30) days after delivery to Tenant of the Additional Rent Statement) an amount equal to such excess (but only to the extent the excess was actually paid by Tenant). If Tenant's Additional Rent exceeds Tenant's Forecast Additional Rent for the subject year, Tenant hereby agrees to pay Landlord, within thirty (30) days of receipt of the Additional Rent Statement, an amount equal to such difference (“Tenant's Additional Rent Adjustment”).
(c) In the event of any failure by Tenant to pay or discharge any of the foregoing, Landlord shall have all rights, powers and remedies provided herein, by law or otherwise, in the event of nonpayment of Basic Rent.
(d) Tenant hereby acknowledges that the late payment of Basic Rent will cause Landlord to incur costs not contemplated under this Lease, the exact amount of which would be difficult to ascertain. Such costs may include processing and accounting charges and late charges which may be imposed on a day Landlord by the terms of any Loan and other than the last day expenses of a monthsimilar or dissimilar nature. Accordingly, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Basic Rent and Additional Rent or any other item of Rent is not paid within ten five (105) days after written notice is given by Landlord or Lender (or Lender's servicer or other designee of Lender) to Tenant that the same becomes due and payable hereunderis overdue, Tenant shall pay to Landlord or Lender, as the case may be, on demand, as Additional Rent, a “Late Charge” late charge equal to five percent (5%) (the “Late Charge”) of such unpaid amount will be due and payable with the next overdue installment of Base Basic Rent, but in no event more than the maximum amount allowed by Law. Landlord may accept any partial payment of Basic Rent or Additional Rent without prejudice to any of Landlord's rights or remedies.
(e) Landlord and Tenant agree that this Lease is a true lease and does not represent a financing arrangement. Each party shall reflect the transactions represented by Tenant to Landlordthis Lease in all applicable books, records, and reports (including, without limitation, income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment.
Appears in 1 contract
Samples: Lease Agreement (Griffin-American Healthcare REIT III, Inc.)
Rent. A. 5.1. The term “Rent” as used in this Lease, shall include the Base Rent, and all other items, costs and expenses identified herein as “Additional Rent,” together with all other amounts payable by Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition. Beginning on the Rent Commencement Date, Tenant shall pay, as Additional Rent, pay each monthly installment of Rent (plus all rent, sales and use taxes or other similar taxes, if any, levied or from time to time imposed by any city, state, county or other governmental body having authority, such payments to be Governmental Authority in addition to all other payments required to be connection with rents paid to Landlord by Tenant under this Lease), in advance on the first calendar day of each month during the Term. Such payments shall be paid concurrently with Monthly installments for any fractional calendar month, at the payments beginning or end of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, prorated based on the number of days in such month, which fall during the Term. All amounts received Tenant shall pay all Rent, without demand, deduction or set off, to Landlord at the place specified for notice in Section 33 below. Tenant also shall pay a late charge (“Late Charge”) equal to the maximum lawful rate of interest per annum, on a per diem basis, of the amount of any delinquent installment of Rent as an administrative fee with each payment of Rent not paid within three (3) days after same is due hereunder. The provisions herein for a Late Charge shall not be construed to extend the date for payment of any sums required to be paid by Landlord from Tenant hereunder shall be applied first or to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant relieve Tenant of its obligations to pay Rent all such items at the time or times herein stipulated. Notwithstanding the imposition of such Late Charge pursuant to this Section, an Event of Default shall occur if any or all payments required to be independent made by Tenant are not made before the expiration of every other covenant any applicable notice and cure periods set forth in this Lease, and neither demand nor collection by Landlord of any such Late Charge shall be construed as a cure for such Event of Default on the part of Tenant.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Samples: Office Lease (Towerstream Corp)
Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease TermLandlord, promptly when due, without notice or demand or deduction, abatement or set off of any setoff or deduction except amount for any reason whatsoever, as otherwise expressly provided hereinrent hereunder ("Rent"), the full amount of all Base Basic Rent and Additional all Percentage Rent due hereunder and the full amount of all such other sums of money (as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments defined below). All Rent to be paid by Tenant to Landlord shall be in addition to all other payments required to 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 Tenant under this Lease. Such payments Landlord ("Landlord's Address").
A. Basic rent for the Premises ("Basic Rent") shall be paid concurrently with the payments in monthly installments, each of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance on the first business day of the calendar month in the amount specified in Exhibit A hereto.
B. In addition to the Basic Rent, Tenant shall also pay during the Term, without notice, demand, abatement, reduction or set off, additional percentage rent ("Percentage Rent") in accordance with the formulae for Percentage Rent set forth in Exhibit B hereto. Percentage Rent for each calendar month during the Term shall be payable in monthly installments on the first 20th day of the following calendar month. Within 20 days after the end of each calendar month during in the Lease Term, without demand. If Tenant shall deliver to Landlord a statement executed by Tenant accurately setting forth the Lease Term commences on a day other than the first day amount of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) Gross Receipts for such month or months shall be prorated, based on and Tenant's calculation of the number of days in Percentage Rent payable for such month, itemized in reasonable detail. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) Within 90 days after the same becomes 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 payable hereunderunpaid for such year, a “Late Charge” equal provided, however, that if Tenant has overpaid Percentage Rents during such year, Landlord shall, at its option, either refund such excess to five percent (5%) of such unpaid Tenant or credit the amount will be due and payable with thereof to the next installment succeeding monthly, installments of Base Percentage Rent payable by Tenant Tenant. With respect to Landlordthe last Lease Year of the Term, such annual reconciliation and adjustment, if any, shall be made within 30 days. The provisions of this Section 3.B shall survive the end of the Term.
C. The term "Gross Receipts" with respect to any period shall:
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Rent. A. Tenant covenants to (a) Sublessee shall pay to Landlord during Sublessor as “Base Rent” for the Lease TermPremises the sum of One Million One Hundred Fifty-one Thousand Four Hundred Ninety-six Dollars ($1,151,496,00), without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 month, in equal monthly installments of Ninety-five Thousand Nine Hundred Fifty-eight Dollars ($95,958.00). The first full calendar month’s Base Rent installment shall be paid on the Commencement Date. Sublessee shall be responsible for the payment of any separately metered utilities and after hours HVAC services requested by Sublessee (as provided in Section 13 of the Lease and Section 21 of this Sublease) and any other services related to Sublessee’s occupancy that are billed by Lessor above and beyond the amounts included within Direct Expenses (as defined in the Lease). Sublessor shall be responsible for the payment of 100% of Tenant’s Proportionate Share (as defined in the Lease) of any increase of Direct Expenses and/or Taxes paid or incurred during the Lease TermTerm of this Sublease over the Direct Expenses and/or Taxes paid or incurred in the Base Year (as defined in the Lease) as set forth in Article 4 of the Lease, without demandand including, by way of illustration and not limitation, real estate taxes, utilities, janitorial services and interior/exterior building repairs and maintenance. If Base Rent for any period during the Lease Term commences on hereof, which is for less than one month, shall be a day pro rata portion of the monthly installment.
(b) When any provision of this Sublease requires the payment of any sums of money other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for defined above, such month or months sums of money shall be prorateddeemed “Additional Rent”, based on the number of days and shall be immediately due and payable, unless otherwise provided for in such monththis Sublease. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent are referred to herein collectively as “Rent”. All payments or any other item installments of Rent within ten (10) days after the same becomes hereunder and all sums whatsoever due and payable hereunderunder this Sublease, if not paid when due, shall be subject to a “Late Charge” late charge equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the payment due for each late payment and shall bear interest at the rate of twelve percent (12%) per annum (but not more than the maximum allowable legal rate applicable) until paid. If an attorney is employed to enforce Sublessor’s rights under this Sublease, Sublessee shall pay all fees and expenses of such unpaid amount will attorney. Rent shall be due payable without notice or demand and payable with without any deduction, offset, or abatement, in lawful money of the next installment United States of Base Rent by Tenant America to Landlord.Sublessor at the following address, or to such other persons or at such other places as Sublessor may from time to time designate in writing: ADC Telecommunications, Inc. Attn: ____________________ 00000 Xxxxxxxxxx Xxxxx Xxxx Xxxxxxx, XX 00000
Appears in 1 contract
Rent. A. Tenant covenants agrees to pay to Landlord during the Lease TermLandlord, without any setoff notice, demand, deduction or deduction except as otherwise expressly provided hereinoffset whatsoever, the full amount of all Base Minimum Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leaseshown in Article 1(K), all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable monthly in advance in monthly installments on the first day of each and every calendar month during the Lease TermTerm from and after the Rent Commencement Date. The first payment of Minimum Rent as set forth in Article 1 hereof, without demandshall be due simultaneously with Tenant’s execution of this Lease. If In the Lease Term commences event that the Rent Commencement Date shall occur on a day other than the first day of a month or terminates on a day the month, the first rental payment shall be adjusted for the fractional monthly period so that all rental payments other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months first shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to on the first day of each month. A late charge of five percent (5%) of the monthly Rent payment shall be added to each and every monthly Rent payment (including Minimum Rent and Additional Rent) which is not received by Landlord on or prior to the fifth (5th) day of the month for which such unpaid payment is due. Any amount will be due and payable with from Tenant to Landlord hereunder which is not received by Landlord on or prior to the next installment fifth (5th) day following the date due, including late payment charges, shall bear interest at a rate equal to the lesser of Base Rent (i) twelve percent (12%) per annum or (ii) the highest rate permitted under applicable law for such obligations, from the due date until paid. The payment of such interest shall not excuse or cure any default by Tenant under this Lease. Landlord’s election not to Landlordcharge the stated five percent (5%) penalty for any late payment shall not constitute or be a waiver or preclude Landlord from charging such late payment penalty at other times. Landlord shall be entitled to collect from Tenant all expenses incurred by Landlord involving collection of late Rent, including, but not limited to, attorneys’ fees and court costs. Notwithstanding the foregoing, Landlord agrees to waive imposition of the above-described late charge on up to one (1) occasion in any twelve (12) month period, provided Tenant tenders the overdue payment to Landlord within five (5) business days after Tenant’s receipt of written notice from Landlord stating that the payment was not received when due. Landlord may, in its discretion, apply any payments received from Tenant in the following order: first, toward the payment of any interest charges accrued against Tenant’s account; second, toward the payment of any late charges and any legal expenses or additional administrative costs incurred by Landlord to enforce any provision of this Lease; third, toward the payment of Additional Rent, including, without limitation, Taxes, Insurance and/or Operating Expenses (as defined in this Lease); and then, toward the payment of Minimum Rent.
Appears in 1 contract
Rent. A. 3.1 Tenant covenants to 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, without any setoff Tenant shall pay to Landlord, as additional rent, Tenant's Percentage Share (as hereinafter defined) of all Insurance Costs (as hereinafter defined) paid or deduction except 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 otherwise expressly provided hereinadditional 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 full amount of all Base Rent and Additional Rent due hereunder and Allowance Rent, if any, as provided in Exhibit B attached hereto.
(e) During each calendar year or part thereof during the full amount of all such other sums of money Lease Term, Tenant shall pay to Landlord, as shall become due under this Leaseadditional rent, all of which the Management Fee (as hereinafter may be collectively called “Rentdefined).” In addition
(f) Throughout the Lease Term, Tenant shall pay, as Additional Rentadditional rent, all rent, sales other amounts of money and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments charges required to be paid to Landlord 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, Allowance Rent, all additional rent and all other amounts payable by Tenant in accordance with this Lease. Such payments 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) and 3.1(c) hereof applicable to the calendar year in which the end of the term occurs shall be paid concurrently with prorated on the payments basis which the number of days from the Rent commencement of such calendar year to and including the date on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during end of the Lease Term, term occurs bears to three hundred sixty five (365).
3.2 Tenant shall be due and payable in advance in pay all monthly installments of (a) Base Rent, (b) monthly installments of the Management Fee, (c) monthly installments of Landlord's estimates of amounts payable under sections 3.1(b) and 3.1(c) hereof, (d) monthly installments of the Allowance Rent (if applicable), and (e) monthly installments of amounts payable, if any, by Tenant pursuant to section 10.1 below on account of Capital Repairs or section 14.2 below on account of Capital Expenditures (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, 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 the Lease Term Xxxxxx's obligation to pay Base Rent hereunder commences on a day other than the first day of a month 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 first full calendar month of the Term in which monthly Base Rent is payable, which amount Landlord shall apply to the Base Rent for such first full calendar month.
3.3 The additional rent payable pursuant to sections 3.1(b) and 3.1(c) hereof shall be calculated and paid in accordance with the following methods: On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall deliver to Tenant Landlord's reasonable estimate of Insurance Costs and Property Taxes, which it anticipates will be paid or incurred for the ensuing calendar year, and Tenant shall pay to Landlord an amount equal to the estimated amount of such expenses for such year in equal monthly installments during such year with the installments of Base Rent Rent. Landlord reserves the right to revise such estimate from time to time (if any) but not more than once per calendar year). In addition, on or before the first day of each calendar year during the Lease Term, Landlord shall deliver to Tenant an invoice for the monthly amount of the Management Fee required to be paid by Tenant pursuant to this Lease for the ensuing calendar year, and Additional Rent (if any) Tenant shall pay to Landlord the Management Fee for such month year in equal monthly installments during such year with the installments of Base Rent.
3.4 Landlord shall furnish to Tenant within four months following the end of the applicable calendar or months fiscal year, as the case may be, a statement setting forth (i) the amount of such expenses paid or incurred during the just ended calendar year, and (ii) the amount that Xxxxxx has paid to Landlord for credit against such expenses for such period. If Tenant shall have paid more than its obligation for such expenses for the stated period, Landlord shall, at its election, either (i) credit the amount of such overpayment toward the next ensuing payment or payments of Monthly Rent that would otherwise be prorateddue or (ii) refund in cash to Tenant the amount of such overpayment. If such year-end statement shall show that Tenant did not pay its obligation for such expenses in full, based on then Tenant shall pay to Landlord the number amount of such underpayment within thirty (30) days in such monthfrom Landlord's billing of same to Tenant. All amounts received by Landlord from Tenant hereunder shall be applied first may, at Tenant's sole cost and expense, cause an audit of Landlord's books and records to determine the earliest accrued accuracy of Landlord's xxxxxxxx for Insurance Costs and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in Property Taxes under this Lease.
B. If , provided Tenant fails completes (and delivers to pay any installment of Base Rent and Additional Rent or any other item of Rent Landlord the written results of) such audit within ten one hundred twenty (10120) days after Xxxxxx's receipt of the same becomes due year-end statement described above setting forth the annual reconciliation of Insurance Costs and payable hereunderProperty Taxes, and provided further that the person or entity performing such audit is not compensated on any type of contingent basis. If such audit reveals that the actual Insurance Costs and Property Taxes for any given year were less than the amount that Tenant paid for Insurance Costs and Property Taxes for any such year, then unless Landlord contests such audit results as provided below, Landlord shall credit the excess to Tenant's next payment of Monthly Rent and Landlord shall pay the cost of Tenant's audit. If such audit reveals that the actual Insurance Costs and Property Taxes for any given year were more than the amount that Tenant paid for Insurance Costs and Property Taxes for any such year, Tenant shall pay such amount to Landlord within thirty (30) days after completion of the audit. Landlord shall have the right to contest the results of Xxxxxx's audit and thereafter promptly have an audit performed ("Landlord's Audit") by a “Late Charge” equal certified public accounting firm selected by Landlord and acceptable to five percent (5%) Tenant in Tenant's reasonable discretion. In such case, the results of such unpaid amount will Xxxxxxxx's audit shall be due binding and payable with conclusive on Landlord and Tenant, and any resulting overpayment or underpayment shall be handled as provided above. Tenant shall pay the next installment cost of Base Rent Xxxxxxxx's Audit unless Landlord's Audit confirms the accuracy of the audit performed by Tenant to Xxxxxx, in which case Landlord shall pay the cost of Landlord.'s Audit. The provisions of this section shall survive the expiration or sooner termination of this Lease. ARTICLE 4
Appears in 1 contract
Samples: Lease (Gigamon Inc.)
Rent. A. Tenant covenants (a) Commencing on the Sublease Commencement Date, and during the remainder of the Sublease Term, Subtenant shall pay monthly base rent (“Base Rent”) to Sublandlord in the amounts set out hereinbelow: Years 1-3: $ per month Year 4: $ per month Year 5: $ per month Base Rent is payable in advance on or before the first day of each month during the Sublease Term. If Sublandlord is in default of the Prime Lease beyond the expiration of any applicable cure period as a result of Sublandlord’s failure to pay rent due to Prime Landlord under the Lease (and provided such default is not the result of Subtenant’s failure to perform any of its obligations under this Sublease or Prime Lease), Subtenant shall have the right, until such time as Sublandlord’s default under the Prime Lease is cured, and so long as Subtenant is not in default of its own obligations under this Sublease beyond the expiration of any applicable cure period, to pay Base Rent due to Sublandlord hereunder directly to Prime Landlord (with such payment to Prime Landlord constituting payment to Sublandlord hereunder).
(b) As used in this Sublease, the term “Additional Rent” means all charges, fees or other sums of money of any kind other than Base Rent which Subtenant is or becomes obligated to pay to Landlord during Sublandlord under the Lease Term, without any setoff terms of this Sublease or deduction except as in connection with the Subleased Premises. Unless otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable within thirty (30) days from the date Sublandlord notifies Subtenant in advance in monthly installments on writing of the first day amount of each calendar month during the Lease Term, without demandsuch Additional Rent. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 As used in this Lease.
B. If Tenant fails to pay any installment of Sublease, the term “Rent” includes Base Rent and Additional Rent, and all Rent shall be paid to Sublandlord, without notice, demand or any setoff, at its address for Notice in Section 17 of this Sublease, or such other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal address designated by Sublandlord from time to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordtime.
Appears in 1 contract
Samples: Sublease Agreement
Rent. A. (a) Except as provided for in the “Rent Abatement” section, Tenant covenants to shall pay to Landlord during Adjusted Rental, which is the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinsum of the monthly Basic Rental, the full amount of all Base Rent and Additional Rent due hereunder monthly Excess Operating Expenses and the full amount of all such other sums of money monthly Excess Taxes (as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall paydefined in the Basic Lease Information), as Additional Rentestimated by Landlord from time to time, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments in advance on the first 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 abatement, deduction or set-off, for each month of the entire Term. One such monthly installment, shall be payable by Tenant to Landlord upon the execution of this Lease. A like monthly installment shall be due and payable 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 before the first day of each succeeding calendar month during the Lease Term, without demand. If Rent for any fractional month at the beginning of the Lease Term commences shall be prorated based on a one-three hundred sixty-fifth (1/365) of the current annual Adjusted Rental for each day other than of the partial month this Lease is in effect, and shall be due and payable on or before the first day of a the calendar month or terminates on a day other than immediately following the last day month in which the Commencement Date occurs.
(b) During the Term of a monththis Lease, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months Basic Rental shall be proratedincreased at the beginning of each lease year by $.50 per rental square foot. 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, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder rent as increased shall be applied first to deemed the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent Basic Rental for all purposes of every other covenant set forth in this Lease.
B. (c) If Tenant fails all of any sum due under this Lease is not received by its due date, then Tenant, to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunderextent permitted by law, shall pay, in addition to the sum owed, a “Late Charge” 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 may require all further payments to be made hereunder to be made by certified check or 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 than Adjusted Rental) which at any time becomes due to Landlord under any provision of this Lease as and when the same becomes due hereunder, then, in either such unpaid amount event, Tenant shall pay Landlord interest on such overdue amounts from the due date thereof until paid at an annual rate (the “Past Due Rate”) which equals the lesser of (i) eighteen percent (18%) or (ii) the highest rate then permitted by law. The “Past Due Rate” will be due applied after thirty (30) days on the unpaid sum but not the five percent (5%) late penalty fee. All late payment charges and payable fees for dishonored checks are to reimburse Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the next installment handling and processing of Base Rent by Tenant late or dishonored payments. Provision for such late charge, interest or fee for dishonor shall be in addition to all other rights and remedies available to Landlord hereunder or at law or in equity and shall not be construed as liquidated damages or limiting Landlord’s remedies in any manner.
(d) Tenant’s covenants and obligations to pay Adjusted Rental and all additional rental (collectively, the “Rent”) hereunder are unconditional and independent of any other covenant or condition imposed on either Landlord or Tenant, whether under this Lease, at law or in equity.
Appears in 1 contract
Rent. A. a. During each year of the Term, the Tenant covenants agrees to pay to Landlord during the Lease TermLandlord, without any setoff demand or deduction except as otherwise expressly provided hereinset off, in lawful money of the full amount of all Base Rent and Additional Rent due hereunder and United States, at the full amount of all such other sums of money as shall become due under address specified in this Lease, all or at such other location as the Landlord may hereafter designate in writing, Base Rent for the Premises in the amount of which hereinafter may be collectively called “RentOne Dollar ($1.00) per annum.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments
b. The annual Base Rent shall be paid concurrently with the payments in full in advance. The first payment of the Rent on which the tax is based. Base Rent shall be due and Additional payable on or before the Commencement Date. Each subsequent annual payment of Base Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on each anniversary date of the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Commencement Date.
c. The Base Rent (if any) and ), the Additional Rent (if any) for such month or months as defined below), and all other sums payable under the Lease shall be proratedpaid without notice, based on demand, counterclaim, set off, deduction, or defense and without abatement, suspension, diminution, or reduction, and the number obligations and liabilities of days the Tenant under the Lease shall in such month. All amounts received no way be released, discharged, or otherwise affected 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 reason of every other covenant set forth any occurrence whatsoever, except as otherwise expressly provided in this Lease.
B. If d. During the Term of this Lease, the Tenant fails 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 pay, either to the Landlord or to others, under the terms of this Lease. In the event of any installment 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 any other item 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 Rent within ten 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 (10) days after e), shall become the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant 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. A. (a) Tenant covenants to shall pay to Landlord during 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 TermInformation), 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 deduction except as otherwise expressly provided hereinset-off, for each month of the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all entire Term. One such other sums of money as monthly installment, shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, payable by Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under upon the execution of this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, A like monthly installment shall be due and payable in advance in monthly installments 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 before the first day of each succeeding calendar month during the Lease Term, without demand. If Rent for any fractional month at the beginning of the Lease Term commences shall be prorated based on a one-three hundred sixty-fifth (1/365) of the current annual Adjusted Rental for each day other than of the partial month this Lease is in effect, and shall be due and payable on or before the first day of a the calendar month or terminates on a day other than immediately following the last day month in which the Commencement Date occurs.
(b) During the Term of a monththis Lease, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months Basic Rental shall be proratedincreased 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, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder rent as increased shall be applied first to deemed the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent Basic Rental for all purposes of every other covenant set forth in this Lease.
B. (c) If Tenant fails all of any sum due under this Lease is not received by its due date, then Tenant, to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunderextent permitted by law, shall pay, in addition to the sum owed, a “Late Charge” 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 may require all further payments to be made hereunder to be made by certified check or 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 than Adjusted Rental) which at any time becomes due to Landlord under any provision of this Lease as and when the same becomes due hereunder, then, in either such unpaid amount will be event, Tenant shall pay Landlord interest on such overdue amounts from the due date thereof until paid at an 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 payable fees for dishonored checks are to reimburse Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the next installment handling and processing of Base Rent by Tenant late or dishonored payments. Provision for such late charge, interest or fee for dishonor shall be in addition to all other rights and remedies available to Landlord hereunder or at law or in equity and shall not be construed as liquidated damages or limiting Landlord's remedies in any manner.
(d) Tenant's covenants and obligations to pay Adjusted Rental and all additional rental (collectively, the “Rent”) hereunder are unconditional and independent of any other covenant or condition imposed on either Landlord or Tenant, whether under this Lease, at law or in equity.
Appears in 1 contract
Rent. A. Currently, Tenant covenants pays the Landlord, as minimum monthly rent (sometimes referred to pay as the “Rent”) for said Premises, the sum of $15.76 dollars per square foot (from July 1, 2007 to Landlord June 30, 2008), but which is subject to the provisions to increase rent pursuant to the consumer price index as set forth in the paragraph below. If Tenant does not construct the Additional Rental Space, then Rent for the original Premises shall continue to increase during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent amended lease term and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxesRenewal Periods, if any, levied pursuant to the consumer price index as set forth below. If Tenant constructs the Additional Rental Space, then Tenant shall pay rent for the Additional Rental Space on a square foot basis as set forth below. Notwithstanding the foregoing, the Tenant shall owe no Rent or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with Additional Rent for the payments Additional Rental Space (if any) until the end of the Rent on which the tax is basednew lease term set forth in paragraph 2b. Base Thus, if Tenant constructs Additional Rental Space, then Tenant shall pay Rent and Additional Rent for each calendar year or portion thereof during the entire Leased Premises only beginning in the first Renewal Period. Tenant shall, however, be responsible at all times to insure the Additional Rental Space as set forth in paragraph 6 of the Lease, and shall be responsible to pay its personal and real property taxes pursuant to paragraph 7(b) of the Lease. Thus, on the Commencement Date for the entire Leased Premises (i.e., per paragraph 2b), Tenant shall continue to pay rent per the Lease Termonly on the Premises for the ten (10) year term. During the First Renewal Period, if any, Tenant shall pay rent for the Additional Rental Space at the same rate as for the Premises; thus rent for the entire Leased Premises shall be at the same per square foot rate. Tenant shall pay to the Landlord one-twelfth of the annual Rent due and payable in advance in monthly installments on or before the first day of each calendar month during of the first Lease Year of the Lease Term, without demandterm commencing on the Commencement Date. If Rent shall be prorated if the Lease Term commences Commencement Date begins on a day other than date which is not the first day of a month or terminates on a day other than the last day of a month, then . Rent for the installments of Base Rent (if any) and Additional Rent (if any) for such month or months entire Leased Premises shall be prorated, therefore increase based on the number timing of days CPI increase for the Premises under the initial Lease (i.e., beginning July 1 each year), even if this increase does not coincide with the anniversary of the Commencement Date for the Leased Premises which will commence pursuant to paragraph 2c. Thus, rent for the Leased Premises will increase per the CPI in such month. All 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 July of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent year, even if the Commencement Date falls on September 1 and Additional Rent or any other item of Rent within the ten (10) days after year term would end on August 31. Notwithstanding the same becomes due foregoing, an annual per square foot Rent increase for any Lease Year during any term of this Lease, including any Renewal Period, may not exceed 2.5% from the previous Lease Year and payable hereunder, a “Late Charge” equal the annual rent increases for any Lease Year during the Renewal Periods shall be 75% of the CPI increase (not to five percent (5exceed 7%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord).
Appears in 1 contract
Rent. The rent reserved under this Lease for the term hereof shall be and consist of:
A. Tenant covenants to pay to Landlord Base Rent as set forth on Exhibit "D" hereof, which shall be payable in advance, in equal monthly installments, without deduction or set-offs and without prior demand therefore, on the first day of each and every calendar month during the term of this Lease Termexcept that:
(i) TENANT shall pay, without any setoff or deduction except as otherwise expressly provided hereinupon execution and delivery of this Lease by TENANT, the full sum of $13,333.50 together with $4,311.17 representing the first month's portion of the estimated share of expenses per section 14 of this Lease entitled "Additional Rent", plus applicable sales tax, to be applied against the first installment of Base Rent becoming due under the lease.
(ii) TENANT shall pay, on the Commencement Date, a prorated amount of all Base Rent and Additional Rent for the Initial Partial Month.
B. All taxes in the nature of sales, use, or similar taxes, now or hereinafter assessed or levied by any taxing authority upon the payment of fixed rent or Additional Rent as hereinafter defined, and which the LANDLORD is required or permitted to collect from TENANT, shall be payable simultaneously with the payment of Base Rent or Additional Rent.
C. TENANT covenants and agrees to pay a late charge for any payment of Base Rent not received by LANDLORD on or before the seventh (7th) day of each month and for any other payment, such as Additional Rent, not received by LANDLORD on or before the date when same is due. Said late charge shall be computed from the first day of the month in the case of Rent and from the date when same is due hereunder in case of Additional Rent. The amount of the late charge shall be an amount equal to the interest commencing on the dates aforesaid, ending on the date of receipt of the sum(s) by LANDLORD and having a rate equal to eighteen percent (18%) per annum. In the full amount event any late charge is due to LANDLORD, LANDLORD shall advise TENANT in writing and TENANT shall pay said late charge to LANDLORD not later than the date when the next payment of Rent is due.
D. Additional Rent consisting of all such other sums of money as shall become due under this Lease, all from and payable by TENANT to LANDLORD hereunder (for default in payment of which hereinafter may be collectively called “Rent.” In addition, Tenant LANDLORD shall pay, have the same remedies as Additional Rent, for a default in payment of fixed rent); all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord LANDLORD without demand, deduction, or set off at its office, or such agent or such other place as LANDLORD may designate by Tenant under this Lease. Such payments shall be paid concurrently with the payments notice to TENANT, in lawful money of the Rent on which the tax is basedUnited States of America. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and made payable in advance in monthly installments on the first day of each calendar month during the Lease Termto: McCox Xxxlty Group 4175 X. Xxx Xxxxx, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a monthXxxxx 000 Xxxxxxxxxx, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.XX 00000
Appears in 1 contract
Samples: Lease Agreement (Jabil Circuit Inc)
Rent. A. Tenant covenants to shall pay in advance to Landlord during as rent for the Lease TermPremises without notice, without demand, deduction or any setoff whatsoever at the address of Landlord as set forth in Paragraph J of the Basic Lease Provisions or deduction except such other address as otherwise expressly provided may be specified by Landlord, the following amounts:
A. Annual minimum rent (herein called' "Minimum Rent") in the total sum and in the manner set forth in Paragraph G of the Basic Lease provisions together with all applicable taxes as set forth in Article 11 herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 term hereof, with adjustments for fractional months. Said rent shall commence on the date set forth in Paragraph F of the Basic Lease Term, without demand. If the Lease Term commences on a day other than Provisions.
B. The annual Minimum Rent shall be adjusted and increased as of the first day of January of each lease year (hereinafter the "Adjustment Date") commencing January 1, 1995, by the amount equal to 4 percent of the Minimum Rent for the immediately preceding lease year and such adjusted Minimum Rent shall be payable monthly, as provided herein, beginning with the Adjustment Date.
C. The term "lease year" as used herein shall be deemed to mean a month or terminates period of twelve (12) consecutive months commencing with the 1st day of January and ending with the 31st day of December of each year, both dates inclusive, provided that the first "lease year" shall begin with the date the term of this Lease commences and shall end on a day other than the succeeding December 3lst, and except that the last "lease year" shall end on the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 Leaselease term.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Samples: Lease Agreement (Universal Technical Institute Inc)
Rent. A. a. During each year of the Term, the Tenant covenants agrees to pay to Landlord during the Lease TermLandlord, without any setoff demand or deduction except as otherwise expressly provided hereinset off, in lawful money of the full amount of all Base Rent and Additional Rent due hereunder and United States, at the full amount of all such other sums of money as shall become due under address specified in this Lease, all or at such other location as the Landlord may hereafter designate in writing, Base Rent for the Premises in the amount of which hereinafter may be collectively called “RentOne Dollar ($1.00) per annum.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments
b. The annual Base Rent shall be paid concurrently with the payments in full in advance. The first payment of the Rent on which the tax is based. Base Rent shall be due and Additional payable on or before the Commencement Date. Each subsequent annual payment of Base Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on each anniversary date of the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Commencement Date.
c. The Base Rent (if any) and ), the Additional Rent (if any) for such month or months as defined below), and all other sums payable under the Lease shall be proratedpaid without notice, based on demand, counterclaim, set off, deduction, or defense and without abatement, suspension, diminution, or reduction, and the number obligations and liabilities of days the Tenant under the Lease shall in such month. All amounts received no way be released, discharged, or otherwise affected 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 reason of every other covenant set forth any occurrence whatsoever, except as otherwise expressly provided in this Lease.
B. If d. During the Term of this Lease, the Tenant fails 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 pay, either to the Landlord or to others, under the terms of this Lease. In the event of any installment 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 or any other item of Rent within ten (10) days after shall sometimes be referred to together in this Lease as the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to LandlordRent”.
Appears in 1 contract
Samples: Ground Lease
Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Termpay, without demand and without any setoff offset or deduction except whatsoever, and Landlord agrees to accept as otherwise expressly provided hereinrent for the Premises, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease$5,640.00 per annum, all of which hereinafter may be collectively called “Rent.” In additionpayable monthly, Tenant shall payin advance, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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, in equal installments of $470.00 each. Rent shall be prorated for any initial or final fractional months of any Initial or Renewal Term of this Lease. Prorated rent due for any initial fractional month during of the Lease Termshall be due on the date this Lease is executed. Landlord reserves the right, without but shall not be obligated, to perform, or to pay for the performance of, any act required of Tenant hereunder or the cure of any default hereunder which is not performed by Tenant within any applicable grace period. Any sums so expended by Landlord shall be due and payable by Tenant immediately upon written demand. If the Lease Term commences on a day Any such sums, along with any other than the first day monetary obligations of a month or terminates on a day Tenant hereunder, and any other than the last day of a month, then the installments of Base Rent (if any) sums so designated herein shall be considered “Additional Rent.” All such rent and Additional Rent (if any) for such month or months shall be proratedpayable and paid in lawful money of the United States of America, based on the number of days in such monthwithout relief from valuation or appraisement laws. All amounts received by Landlord from rent, Additional Rent and any other monetary obligations of Tenant hereunder which remain unpaid after written notice thereof from Landlord, shall be applied first bear interest at the rate of eight percent (8%) per annum. Tenant shall pay Landlord's reasonable attorneys' fees for collection of the same. In addition 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. If interest, if Tenant fails to pay any installment of Base Rent and rent or Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunderpayable, Tenant shall pay a “Late Charge” equal late payment service charge of $50.00 for each full or partial calendar month that any such amount remains unpaid. At the end of each calendar year, Landlord shall determine the amount of the aggregate percentage increase, during such calendar year, in the per unit costs of the heat, electricity, gas, water, sewage, or any other utilities or utility services to five percent (5%) the Old Vanderburgh County Courthouse. Effective at the beginning of the subsequent calendar year, Landlord shall be entitled to an increase in the rent due hereunder during such unpaid amount will calendar year, which increase shall be due and payable with based upon such aggregate percentage increase in utility costs, if any, during the next installment of Base Rent by Tenant to Landlordpreceding year.
Appears in 1 contract
Samples: Lease Agreement
Rent. A. 4.1. Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff notice, demand, or deduction except in lawful money of the United States of America, at Landlord's Address for Notices in Section 33.9, or at such other place as otherwise expressly provided herein, Landlord shall designate in writing from time to time: (a) the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leasein equal monthly installments, all of which hereinafter may be collectively called “Rent.” In additionin advance, Tenant shall pay, as Additional Rent, all rent, sales and use taxes on or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on before the first day of each calendar month during the Lease TermTerm commencing on the Commencement Date, without demandexcept as otherwise set forth in this Section 4.1 with respect to any period which is less than one (1) full calendar month; and (b) the Additional Rent, at the respective times required hereunder. If the Lease Term commences on a day other than the The first day of a month or terminates on a day other than the last day of a month, then the installments 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 for a full calendar month coming due under this Lease. For any period which is less than one (if any1) and Additional full calendar month, the Rent (if any) due for such month or months period under this Lease shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstandinga prorated amount. Tenant’s 's covenant to pay Rent hereunder is independent of any other covenant, condition, provision or agreement herein contained. All past due installments of Rent which are more than thirty (30) days past due shall be independent subject to a late charge of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) simple of such unpaid amount will the past due amounts. Notwithstanding anything contained in this Lease to the contrary, Tenant shall not be due and payable with required to pay any Base Rent during the next first four (4) months of the initial twelve (12) month term of this Lease. The first monthly installment of Base Rent by Tenant to Landlordpayable under this Lease shall be due for the fifth (5th) month of the initial twelve (12) month term of this Lease.
4.2. As used in this Lease, the term "Lease Year" shall mean a calendar year during the Term, except that the first Lease Year shall be the period commencing on the Commencement Date and expiring upon the expiration of the calendar year in which the Commencement Date occurs and the final Lease Year shall expire upon the expiration of the Term. If the first or final Lease Year is less than twelve (12) months, all prorations shall be based upon a 365 day year.
Appears in 1 contract
Rent. A. (a) Regardless of whether Tenant covenants vacates the Released Premises prior to pay the Partial Lease Termination Date, all installments of annual base rent with respect to Landlord during the Released Premises which are due pursuant to Article III of the Lease Termshall be paid through March 31, without any setoff or deduction except as otherwise expressly provided herein, 2003 (the full amount of all Base “Partial Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In additionTermination Date”). Similarly, Tenant shall paymake estimated monthly payments in respect of Additional Rent with respect to the Released Premises, as provided in Article IV of the Lease, through the Partial Rent Termination Date. Tenant’s obligation with respect to payment of Additional Rent with respect to the Released Premises pursuant to Article IV of the Lease, as well as Landlord’s obligation to refund any overpayment made with respect to the Released Premises by Tenant in respect of Additional Rent, all rentwith respect to the period prior to and including the Partial Rent Termination Date, sales shall survive the Partial Lease Termination Date and use taxes the Partial Rent Termination Date. All of Tenant’s other obligations under the Lease with respect to the Released Premises shall continue in full force and effect through the Partial Lease Termination Date.
(b) Notwithstanding anything to the contrary in subparagraph (a) above, in the event (i) Landlord is successful in its efforts to relet all or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments a portion of the Rent on which Released Premises, (ii) the tax is based. Base Rent new tenant takes occupancy of the Released Premises and Additional Rent for each calendar year or portion thereof during (iii) Landlord actually receives the Lease Term, shall be due and payable in advance in monthly installments on payment of rent with respect to the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a monthReleased Premises, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months annual base rent that Tenant is to pay with respect to the Released Premises prior to March 31, 2003 shall be prorated, based on reduced by the number actual amount of days in such month. All amounts the rent actually received by Landlord from Tenant hereunder shall be applied first with respect to the earliest accrued and unpaid Rent Released Premises. To the extent Landlord receives payment of rent with respect to the Released Premises by a new tenant, then outstanding. Landlord shall credit against Tenant’s covenant next monthly installment of annual base rent an amount equal to the amount received from the new tenant.
(c) Tenant’s obligation to pay Rent shall be independent of every annual base rent, additional rent and all other covenant set forth sums and charges due in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable accordance with the next installment terms and provisions of Base Rent by the Lease shall continue in full force and effect with respect to the Sixth Floor Premises. Except as provided in Paragraph 13 below, provided Tenant complies with the terms hereof, Tenant shall have no further obligations with respect to Landlordthe Seventh Floor Premises commencing the day immediately following the Partial Lease Termination Date.
Appears in 1 contract
Samples: Partial Lease Termination Agreement (E Centives Inc)
Rent. A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid, provided, Tenant shall be entitled to a grace period of three (3) Business Days after written notice from Landlord with respect to the first two (2) late payments in any consecutive twelve (12) month period. In addition, if Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes when due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent immediately by Tenant to Landlord, provided, Tenant shall be entitled to a grace period of three (3) Business Days after notice from Landlord with respect to the first two (2) late payments in any consecutive twelve (12) month period.
Appears in 1 contract
Samples: Office Lease (Enernoc Inc)
Rent. A. Tenant covenants to shall pay to Landlord during Landlord: (a) the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leasein equal monthly installments, all of which hereinafter may be collectively called “Rent.” In additionin advance, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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; and (b) the Additional Rent, without demandat the respective times required hereunder. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments One monthly installment of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based paid in advance on the number date of days in Tenant's execution of this Lease and applied to the first monthly installment of Base Rent coming due under this Lease. Payment of Base Rent for any partial month shall be prorated for such month. All amounts received by Tenant shall pay the Rent all in accordance with the terms and provisions of this Lease without notice, demand, offset or deduction, except as may be expressly provided in this Lease, and in lawful money of the United States at Landlord's Address for Payment, or at such other place as Landlord shall designate in writing from Tenant hereunder shall be applied first time to the earliest accrued and unpaid Rent then outstandingtime. Tenant’s 's covenant to pay Rent shall be is independent of every any other covenant set forth in covenant, condition, provision or agreement of this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item . All past due installments of Rent shall: (i) be subject to a late charge of five percent (5%) of the past due amounts; provided, however, the first two such past due installments during any twelve-month period shall not be subject to such late charge, so long as Tenant pays each such installment within ten (10) days after Landlord gives written notice that such installment is past due; and (ii) bear interest at the same becomes Interest Rate accruing from the due date until paid. The late charge is intended to reimburse Landlord for administrative costs incurred by Landlord as a result of Tenant's late payment, and payable hereunderis not a penalty. On the first annual anniversary of the Commencement Date, a “Late Charge” equal to five percent (5%) and on each and every annual anniversary of such unpaid amount will be due and payable with the next installment of Commencement Date thereafter during the Term, the Base Rent by Tenant to Landlordshall be increased as specified in Section 1.1(F).
Appears in 1 contract
Samples: Lease Agreement (Viryanet LTD)
Rent. A. 4.01 Tenant covenants to shall pay to Landlord during in lawful money of the Lease TermUnited States of America, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent due hereunder and for the full amount Term (collectively referred to as "Rent"). "Additional Rent" means all sums (exclusive of all such other sums of money as shall become due Base Rent) that Tenant is required to pay Landlord under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, . Tenant shall pay, as Additional Rent, pay and be liable for all rentrental, sales and use taxes (but excluding Landlord's federal, state and local income taxes or other similar taxesany gross receipts tax payable in lieu of income tax), if any, levied imposed upon or imposed measured by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is basedRent. 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 without notice or demand, provided that the installment of Base Rent for the first full calendar month of the Term and the first monthly installment of Expense Rent and Tax Rent (as defined in Exhibit B), shall be payable upon the execution of this Lease Term, without demandby Tenant. All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. All payments of Rent shall be made by electronic money transfer in accordance with Xxxxxxxx's written instructions regarding the same or by such other means or method of payment as Landlord may direct in writing. If Tenant does not pay any Rent when due hereunder, Tenant shall, if not cured within 2 business days following written notice, pay Landlord an administration fee in the Lease Term commences on amount of five percent (5%) of the past due Rent, provided that Tenant shall be entitled to a day other than grace period of up to 5 days for the first day 2 late payments of Rent in a month calendar year. In addition, past due Rent shall accrue interest at a rate (the "Interest Rate") per annum equal to the greater of (i) 12% per annum and (ii) 4 percentage points above the rate of interest then most recently publicly announced by a federally insured bank selected by Landlord as its "prime rate" or terminates on a day other than "base rate" (the last day "Prime Rate") until paid in full, including after the entry of a monthany judgment. If accrual or payment of interest at the Interest Rate should be unlawful, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months Interest Rate shall be proratedthe maximum legal rate. Tenant shall pay Landlord a reasonable fee for any checks returned by Xxxxxx's bank for any reason. Xxxxxxxx's acceptance of less than the correct amount of Rent shall be considered a payment on account of the oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant and acceptance of any such partial payment shall not be deemed a waiver of Landlord's right to the full amount due. Rent for any partial month during the Term shall be prorated based on the number of days in such month. All amounts received by Landlord from Tenant hereunder No endorsement or statement on a check or letter accompanying payment shall be applied first to the earliest accrued considered an accord and unpaid Rent then outstandingsatisfaction. Tenant’s 's covenant to pay Rent shall be is independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Samples: Industrial Real Estate Lease Agreement (Aqua Power Systems Inc.)
Rent. A. Commencing on the Lease Commencement Date, Tenant covenants and agrees to pay to Landlord in lawful money of the United States of America, during each lease year, an annual rental pursuant to the Lease Termfollowing schedule (the “Rent”), without any setoff or deduction except as otherwise expressly provided herein, which amounts are equal to the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become rent due under the Prime Lease: YEAR 1 $15,500.00 monthly $186,000.00 annually YEAR 2 $16,145.83 monthly $193,750.00 annually YEAR 3 $16,791.67 monthly $201,500.00 annually YEAR 4 $17,437.50 monthly $209,250.00 annually YEAR 5 $18,083.33 monthly $217,000.00 annually The Rent shall be payable in equal monthly installments, in advance on or before the first day of each and every calendar month of the Term of this Lease, . The Rent shall be paid in addition to and over and above all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord made by Tenant under this Leaseherein. Such payments The first lease year shall be paid concurrently with a full year commencing on the payments Lease Commencement Date and each following lease year shall be an annual period commencing on the anniversary date of the Rent on which the tax is basedLease Commencement Date. Base Rent and Additional Rent for each calendar year or portion thereof during Appropriate proration shall be made if the Lease Term, shall be due and payable in advance in monthly installments Commencement Date is not on the first day of a calendar month, or if the date of termination of the lease is not on the last day of a calendar month. During each calendar month during the Lease Extension Term, without demandthe Rent for the Premises shall be the “Fair Market Rent” determined as hereinafter provided. Within fifteen (15) days after receipt of Tenant’s notice of exercise of its option to extend the Term of this Lease, Landlord shall give Tenant written notice of the Fair Market Rent proposed by Landlord for the Renewal Term. Within fifteen (15) days of Landlord’s notice of the proposed Fair Market Rent, the Tenant may, by written notice to the Landlord, (i) accept the proposed Fair Market Rent, (ii) revoke its election to renew the applicable term, or (iii) reject the proposed Fair Market Rent and elect that Fair Market Rent be determined in accordance with the procedures set forth herein. Within five (5) days after Tenant gives notice of its election under subsection (iii) above, each party, at its sole cost and by giving notice to the other party, shall appoint a fully licensed and certified real estate appraiser with at least five (5) years commercial appraisal experience in Massachusetts to appraise and establish the Fair Market Rent for the Premises. Fair Market Rent shall be based upon rent for comparable buildings for comparable uses in the Greater Woburn area for a similar term taking into consideration factors such as the building age, size, amenities and location. If a party does not appoint an appraiser within five (5) days after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the Fair Market Rent for the Premises for the Extension Term. If the two appraisers are appointed by the parties as stated in this paragraph, they shall each submit within fifteen (15) days of the appointment of the second appraiser, a written appraisal stating the Fair Market Rent for the Premises. If the lower of the two appraisals is less than ten percent (10%) lower than the higher appraisal, the average of the two appraisals will be deemed the Fair Market Rent for the Premises. If the lower appraisal is more than ten percent (10%) lower than the higher appraisal, then the two appraisers shall within five (5) days select a third appraiser who meets the qualifications stated in this paragraph. Each of the parties shall bear one half of the cost of paying for the third appraiser’s fee. Within fifteen (15) days after the selection of the third appraiser, a majority of the appraisers shall set the Fair Market Rent for the Premises. If a majority of the appraisers are unable to set the Fair Market Rent within the stipulated period of time, the three appraisals shall be added together and their total divided by three. The resulting quotient shall be the Fair Market Rent for the Premises, unless the low appraisal and/or the high appraisal is/are more than 10% lower and/or higher than the middle appraisal, in which case the lower appraisal and/or the high appraisal shall be disregarded. If only one appraisal is disregarded, the remaining two appraisals shall be added together and their total divided by two. The resulting quotient shall be the Fair Market Rent for the Premises. In no event shall the Fair Market Rent during the Extension Term be lower than the Fair Market Rent for the last year of the Term or prior Extension Term, as the case may be. Notwithstanding the foregoing provisions for the payment of Rent, which provisions correspond to the rent provisions in the Prime Lease, it is anticipated that Landlord will close on the acquisition of the Premises on August 13, 2001 or shortly thereafter (the “Closing”). Effective upon the occurrence of the Closing, this Lease shall no longer be a sublease but shall continue as a direct Lease between Landlord, as owner of the Premises, and Tenant upon all of the terms and conditions set forth herein. Concurrent with the Closing, Landlord shall reimburse Tenant in full for all amounts advanced by Tenant toward the cost of completing Landlord’s Work, which amounts are estimated to total approximately $1,600,000.00 (the “Reimbursement Amount”). Accordingly, upon the latter to occur of: (i) the Closing; and (ii) the payment of the Reimbursement Amount (hereinafter referred to as the “Recalculation Date”), the Rent previously referenced in this Lease shall be deleted and, in lieu thereof, the Rent shall be calculated by taking the actual costs incurred by Landlord to purchase the Premises (i.e.- the cost of the building and the land, which amount Landlord estimates to be approximately $1,810,000.00 plus reasonable closing costs) and adding thereto the Reimbursement Amount and taking this sum and multiplying it by the Cap Rate (as hereinafter defined) to arrive at the per annum rent figure for the remaining Lease Term. Landlord shall provide to Tenant a copy of the closing statement for the purchase of the Premises and such other reasonable documentation requested by Tenant. The Cap Rate shall be 11.5% per annum for the remaining Lease Term commences if Landlord obtains financing at a fixed rate of interest. If Landlord’s financing provides for an adjustable interest rate (the “Mortgage Rate”), then the Cap Rate for the first five (5) years after the Recalculation Date shall be 11.5% per annum. Thereafter, if Landlord’s existing mortgagee increases the Mortgage Rate, then Tenant’s Cap Rate shall also increase by the same percentage point increase but Tenant’s Cap Rate shall not increase by more than two (2) percentage points once every five (5) year period (“ceiling”). By way of example, if Landlord’s Mortgage Rate as of the Recalculation Date is 8.5% per annum and, after a five (5) year period, Landlord’s mortgagee increases Landlord’s Mortgage Rate by one (1) percent to 9.5% per annum, then Tenant’s Cap Rate shall be adjusted to 12.5% per annum (i.e.-one (1) percentage point). Should Landlord’s Mortgage Rate decrease, then Tenant’s Cap Rate shall also decrease by the same percentage point decrease, but in no event shall Tenant’s Cap Rate decrease to a rate less than 11.5% per annum (“floor”). Prior to any adjustment in the Cap Rate, Landlord shall provide Tenant with reasonable documentation showing the adjustment in the Mortgage Rate, the recalculation of the Cap Rate and the recalculation of the Rent for the next five (5) year period. The increase or decrease in the Rent, as the case may be, shall be retroactive to the date the Mortgage Rate was adjusted (provided that the Cap Rate shall only be adjusted once every five (5) years throughout the Lease Term and all extensions thereof and subject to the ceiling and floor on the Cap Rate as described herein). If, subsequent to the Closing, Landlord refinances its mortgage on the Premises with a day other than bona fide third party lender, then the provisions of this paragraph shall continue to apply including the limitation on adjustment of the Cap Rate once every five (5) years during the Term and subject to the ceiling and the floor as provided herein. Payment of the recalculated Rent shall be retroactive to the Recalculation Date and the appropriate proration shall be made if the Recalculation Date is not the first day of a month calendar month. The parties shall execute, acknowledge and deliver to each other the written statement attached hereto as Exhibit “C” specifying the Recalculation Date and the recalculated Rent payable by Tenant hereunder. Further, upon request of either party, the parties shall re-execute the written statement after any adjustment in the Rent hereunder. In the event the Closing does not occur or terminates on a day other than in the last day of a monthevent the Closing does occur but Landlord fails to pay Tenant the Reimbursement Amount, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall not be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first calculated pursuant to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent foregoing formula in the first paragraph of every other covenant set forth in this LeaseSection 4.1.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Samples: Lease Agreement (Nationsrent Inc)
Rent. A. (a) Tenant covenants to shall pay to Landlord during as rental the amount specified in the Basic Lease Term, without any setoff or deduction except Information as otherwise expressly provided herein, the full amount of all Monthly Base Rent. The first Monthly Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this LeaseLease shall be payable by Tenant immediately prior to term commencement and all subsequent Monthly Base Rent payments shall be payable in advance on or before the first day of the first full calendar month following commencement of the term and of each successive calendar month thereafter during the term. If the term commences on other than the first day of a calendar month, all any excess payment of which hereinafter may Monthly Base Rent shall be collectively called “Rentcredited against the next payment of Monthly Base Rent otherwise due.” In addition
(b) Effective as of each anniversary date of the Commencement Date, the Monthly Base Rent shall be increased as indicated in the Basic Lease Information.
(c) Tenant shall pay, as Additional Rentadditional rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments amounts of money required to be paid to Landlord by Tenant under hereunder in addition to monthly rent, whether or not the same be designated "additional rent."
(d) Tenant hereby acknowledges that late payment by Tenant to Landlord of rent and other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such payments costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any loan secured by the Building. Accordingly, if any installment of rent or any other sums due from Tenant shall not be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord within five (5) days after Landlord shall have given Tenant notice that the some is past due, Tenant shall pay to Landlord a late charge equal to four percent (4%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. 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 Tenant hereunder shall be applied first to exercising any of the earliest accrued other rights and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in remedies under this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10e) days after the same becomes due and Any amount payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord, if not paid within five (5) days of when due, shall bear interest from the date due until paid at the rate of ten percent (10%) per annum or, if a higher rate is legally permissible, at the highest rate legally permitted provided that interest shall not be payable on late charges incurred by Tenant nor on any amounts upon which late charges are paid by Tenant to the extent such interest would cause the total interest to be in excess of that legally permitted. Payment of interest shall not excuse or cure any default by Tenant under this Lease.
(f) All payments due from Tenant to Landlord hereunder shall be made to Landlord without deduction or offset in lawful money of the United States of America at the address for payment set forth in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to are designate by notice to Tenant.
Appears in 1 contract
Samples: Net Office Lease (Doubletwist Inc)
Rent. A. Tenant covenants to shall pay to Landlord during the Lease TermBase Rent, Real Property Taxes (as herein defined) and Operating Expenses (as herein defined), without any setoff notice, demand, offset or deduction (except as otherwise expressly provided herein), the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leasein advance, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and 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 month. All Rent and payments required to be paid by Tenant to Landlord shall be made by Tenant payable to the Lease Termentity 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 or by Electronic Fund Transfer of immediately available federal funds before 11:00 a.m. Eastern Time. Upon the execution of this Lease, without demandTenant shall pay to Landlord the first full calendar month’s Base Rent and the first full calendar month’s installment of estimated Operating Expenses. If the Lease Term commences on a day date other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 prorated on the basis of a thirty (30) day month (and such prorated amount shall be paid within three (3) days of the Commencement Date). 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 of every other covenant set forth obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease.
B. . If Tenant fails to pay is delinquent in any monthly installment of Base Rent and or Additional Rent for more than five (5) days, Tenant shall pay to Landlord on demand a late charge equal to [***] 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) [***] per annum; or (ii) at the maximum rate permitted by law (“Applicable Interest Rate”). Notwithstanding the foregoing, before assessing a late charge the first time in any other item calendar year, Landlord shall provide Tenant written notice of Rent the delinquency and will waive the right if Tenant pays such delinquency within ten five (105) days after the same becomes due thereafter. The provision for such late charge shall be in addition to all of Landlord’s other rights and payable hereunder, remedies hereunder or at law and shall not be construed as a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordpenalty.
Appears in 1 contract
Samples: Single Tenant Industrial Triple Net Lease (GenMark Diagnostics, Inc.)
Rent. A. Tenant covenants to pay to Landlord during The Rent due for the entire Lease Term, without Term is $ . Rent shall also include any setoff other charges identified in this Lease as “Rent” or deduction except as otherwise expressly provided herein, the full amount of all Base “Additional Rent”. Rent and Additional Rent is payable in one of the following payment options: Option #1 Equal payments of $ due hereunder the 1st day of each month. 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 monthly option) is subject to a late fee of 5% of the Tenant’s monthly rent (but will not exceed $50.00) which shall be due as Additional Rent. In addition, beginning with the sixth day after the due date of a rent payment, you will be charged an additional charge of $5.00 per day until payment is received in full. Tenant’s right of possession and all of Landlord’s obligations are expressly contingent on prompt payment of Rent and use of the full amount of all such other sums of money as shall become Premises by Tenant is granted only on the condition that Rent is paid on time. If Tenant fails to pay Rent or Additional Rent due under this Lease, all Landlord will give Tenant a fourteen (14) 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 which hereinafter may be collectively called “Rent or Additional Rent.” In addition. Should Tenant elect to vacate the Apartment, Tenant shall paycontinues 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, as Additional Rent, all rent, sales or for any other legal action commenced by Landlord for the enforcement of the terms and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under conditions of this Lease. Such payments shall Owed rent will be paid concurrently with the payments of the Rent on which the tax is basedsent to Collections and a 30% Collections Fee will be assessed. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder 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 accrued 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 unpaid Rent then outstandingsubmit a Lease renewal form. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this LeaseApartments 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.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
Appears in 1 contract
Samples: Lease Agreement
Rent. A. 4.1 Tenant covenants hereby agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinBase Rent. For purposes of Rent adjustment under the Lease, the full amount 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 electronic transfer of funds on SMRH:422502059.9 -6- or before the first day of each calendar month. In addition to the Base Rent, Tenant also agrees to pay Tenant's Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Leaseand 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 may be collectively called “"Rent" 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 additionthe 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 paypay to Landlord a late charge (the "Late Charge"), as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments an amount of the Rent on which the tax is based. Base Rent and 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 demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of the amount of such unpaid amount 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. Notwithstanding the foregoing provisions of this Section 4.2, the Late Charge shall not be imposed with respect to the first late payment in any 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 and payable from Tenant during such calendar year which is not received within five (5) days after its due date.
4.3 Simultaneously with the next execution hereof, Tenant shall (i) deliver to Landlord the Rent Payable Upon Execution as payment of the first installment of Base Monthly Rent and Tenant's Share of Operating Expenses and Taxes due hereunder and (ii) be deemed to have delivered to Landlord 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 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. SMRH:422502059.9 -7-
Appears in 1 contract
Samples: Lease Agreement (Ipass Inc)
Rent. A. (a) Tenant covenants to shall pay to Landlord (or to Lender, if directed by Landlord), as minimum annual rent for the Leased Premises during the Lease Term, without any setoff or deduction except as otherwise expressly provided hereinthe amounts set forth in Exhibit “B” attached hereto (“Basic Rent”), the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance commencing on the first day of the first month following the month in monthly installments which the Commencement Date occurs (unless the Commencement Date is the first day of a month, in which case commencing on the Commencement Date) continuing on the first day of each calendar month thereafter during the Term (the said days being called the “Basic Rent Payment Dates”), and shall pay the same at Landlord’s address set forth below, or at such other place as Landlord from time to time may designate to Tenant in writing, in funds which at the time of such payment shall be legal tender for the payment of public or private debts in the United States of America and if required by Lender or Landlord by wire transfer in immediately available federal funds to such account in such bank as Lender or Landlord shall designate, from time to time. Upon request by Landlord, Tenant shall establish arrangements whereby payments of the Basic Rent and Additional Rent are transferred by Automated Clearing House Debit from an account established by Tenant at a United States bank or other financial institution to such account as Landlord may designate. Basic Rent shall be adjusted on certain anniversaries of the Lease TermYear Commencement Date, without demandas set forth on Exhibit “B”. If the Lease Term commences Commencement Date shall occur on a day date other than the first day of a month or terminates on a day other than calendar month, then, Basic Rent for the period from and including the Commencement Date through and including the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months in which the Commencement Date occurs shall be proratedpaid, based in advance, on the date hereof, in an amount prorated by (i) dividing the monthly installment of Basic Rent due for the month in which the Commencement Date occurs by the number of days in such month. All , and (ii) multiplying such sum by the numbers of days remaining in such month from and after the Commencement Date.
(b) Tenant shall pay and discharge before the imposition of any fine, lien, interest or penalty may be added thereto for late payment thereof, the following (“Additional Rent”), all other amounts received by Landlord from and obligations which Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant assumes or agrees to pay Rent shall be independent of every other covenant set forth in or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. In the event of any failure by Tenant to pay or discharge any of the foregoing, Landlord shall have the same rights, powers and remedies provided herein, by Law or otherwise as are available to Landlord in the event of nonpayment of Basic Rent.
B. (c) If Tenant fails to pay any installment of Base Basic Rent and Additional Rent or any other item of Rent is not paid within ten (10) days after written notice is given by Landlord or Lender (or Lender’s servicer or other designee of Lender) to Tenant that the same becomes due and payable hereunderis overdue, Tenant shall pay to Landlord or Lender, as the case may be, on demand, as Additional Rent, a “Late Charge” late charge equal to five percent (5%) of (the “Late Charge”) on such unpaid amount will be due and payable with the next overdue installment of Base Basic Rent. Tenant acknowledges and agrees that late payment of Basic Rent or Additional Rent by Tenant will cause Landlord to Landlordincur increased costs not contemplated by this Lease. The exact amount of such costs is extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges. The assessment of the forgoing late charge represents a fair and reasonable estimate of certain costs which Landlord will incur by reason of a late payment by Tenant.
Appears in 1 contract
Samples: Lease Agreement (Jo-Ann Stores Inc)
Rent. A. 4.01 Tenant covenants to shall pay to Landlord during the Lease TermLandlord, without any setoff or deduction except as otherwise deduction, unless expressly provided hereinset forth in this Lease, the full amount of all Base Rent and Additional Rent (as hereinafter defined) due hereunder and for the full amount of all such other sums of money Term (collectively referred to as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based”). Base Rent and Additional shall commence on the Commencement Date, subject to the Base Rent Abatement Period. Anything herein to the contrary notwithstanding, an amount equal to the first full monthly installment of Base Rent, which shall be applied toward the sixth (6th) month of the Term, plus any fraction of a monthly payment for each calendar year or any portion thereof during of a month at the Lease 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 in monthly installments on the first day of each calendar month during the Lease Term, without notice or demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first Unless otherwise specified herein to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay contrary, all other items of Rent shall be independent of every other covenant set forth in this Lease.
B. If due and payable by Tenant fails to pay any installment of Base Rent and Additional Rent on or any other item of Rent within ten before fifteen (1015) days after billing by Landlord. Rent shall be made payable to the same becomes due entity, and payable hereundersent to the address, Landlord otherwise designates and shall be made by good and sufficient check drawn on a “Late Charge” local bank or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to five percent (5%) of such unpaid all past due Rent, provided that Tenant shall be entitled to a grace period of five (5) days for the first two (2) late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum or the maximum rate permitted by law, whichever is less. Landlord’s acceptance of less than the correct amount will of Rent shall be due 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 payable with the next installment satisfaction. Tenant’s covenant to pay Rent is independent of Base Rent by Tenant to Landlordevery other covenant in this Lease.
Appears in 1 contract
Rent. A. 4.1. Tenant covenants to shall pay to Landlord during the Lease TermAnnual 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, without any setoff or deduction except Tenant shall pay as otherwise expressly provided herein, additional rent (the full amount of “Additional Rent”) all applicable sales tax plus certain charges designated in this Lease. The Annual and Monthly Base Rent are sometimes generically referred to herein as the “Base Rent,” and the Base Rent and Additional Rent due hereunder and are sometimes collectively referred to as the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, ”
4.2. Tenant shall pay, as Additional Rent, all rent, sales pay Landlord the first Monthly Installment of Base Rent and use taxes or the Security Deposit simultaneously with the execution and delivery of this Lease by Tenant. All other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to Rent will be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments order of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year Landlord, in advance, except as expressly set forth in Section 11.4, without any abatement, setoffs or portion thereof during the Lease Termdeductions, shall be due and payable in advance in monthly installments on the first day of each and every calendar month during (the Lease Term“Rent Day”) at Landlord’s Office, without demandor at such other place as Landlord may designate in writing. If In the Lease Term commences on a day event the Commencement Date is other than the first day of a calendar month, the Rent for the partial first calendar month or terminates of the Term will be prorated on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, daily basis based on the number of days in such the month. All amounts 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 as additional rent on or before the 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 absolutely net of all costs, expenses, taxes (real and personal), assessments and charges of every kind 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. Landlord and Tenant hereunder further acknowledge and agree that Tenant shall be applied first pay for all sales and similar taxes imposed upon the payment of Base Rent, Additional Rent and any and all other charges payable by Tenant hereunder. Tenant will indemnify and hold harmless Landlord from and against such costs, expenses and charges. Notwithstanding anything contained in this Section 4.3 to the earliest accrued contrary, the parties hereto hereby agree that the Tenant Reimbursement and unpaid Rent then outstanding. TenantLandlord’s covenant to pay Rent shall be independent of every other covenant set forth in income taxes are specifically excluded from this LeaseSection 4.3.
B. 4.4. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent 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 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 this Lease or at law), that all future rental payments are to be made on or before the same becomes due date by cash, certified check, cashier’s check, money order, or wire transfer and payable hereunder, that the delivery of Tenant’s personal or corporate check will no longer constitute a “Late Charge” equal to five percent (5%) payment of such unpaid amount will rental as provided in this Lease. Any acceptance of any other form of payment thereafter by Landlord shall not be due and payable with the next installment construed as a subsequent waiver of Base Rent by Tenant to Landlordsaid rights.
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Rent. A. 4.1 Tenant covenants to pay to Landlord 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 Lease first through the fifth year of the Term, without any setoff or deduction except as otherwise expressly provided hereinTenant shall pay an annual base rent of $6.00 per square foot for basement space for annual base rent of $127,200.00 (“Base Basement Rent”, and together with the Above-Ground Base Rent, the full amount “Base Rent”) based upon an occupancy of all 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. The Base Rent and Additional Rent due hereunder and shall be referred to hereafter as “Rent”.
4.3 Tenant covenants to pay the full amount Rent in lawful money of the United States which shall be legal tender for the payment of all such other sums debts, public and private, at the time of money as payment. Such Rent shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord via wire transfer or other electronic transfer to an account provided by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year Landlord, or portion thereof during the Lease Termat such other place or means as Landlord may, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Termfrom time to time, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All amounts received designate by Landlord from Tenant hereunder shall be applied first notice to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay .
4.4 The Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlordwithout any set-off or deduction of any kind or nature whatsoever and without notice or demand.
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Rent. A. (a) From the date hereof and continuing through November 30, 1997 Base Rental payable by Tenant covenants with respect to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as Existing Premises shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required continue to be paid to Landlord by Tenant under this at the rate provided for in Article II, Paragraph 4 of the Lease. Such payments Tenant shall be paid concurrently also continue to pay Lessee's Additional Rental, Lessee's Forecast Additional Rental and all other sums payable by Tenant with respect to the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof Existing Premises during the Lease Term, shall be due and payable in advance in monthly installments such period on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) terms and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 conditions set forth in this the Lease.
B. If (b) Effective as of the Expansion Premises Commencement Date and continuing through November 30, 1997 Base Rental payable by Tenant fails with respect to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” Expansion Premises only shall be equal to five percent (5%) $9.00 net per square foot of such unpaid amount will be due net rentable area within the Expansion Premises per year payable monthly as provided in Article II of the Lease. Tenant shall also pay Lessee's Additional Rental, Lessee's Forecast Additional Rental and all other sums payable with the next installment of Base Rent by Tenant with respect to Landlordthe Expansion Premises during such period on the terms and conditions set forth in the Lease.
(c) Base Rental payable by Tenant pursuant to Article II, Paragraph 4 of the Lease with respect to the entire Leased Premises during the Renewal Term shall be determined according to the following schedule: RENTAL PERIOD ANNUAL BASE RENTAL RATE ------------- ----------------------- December 1, 1997 - November 30, 1998 $9.00 net December 1, 1998 - November 30, 2000 $10.00 net December 1, 2000 - November 30, 2002 $11.00 net The Base Rental rates are quoted per square foot of net rentable area within the Leased Premises per annum. Tenant shall also pay Lessee's Additional Rental, Lessee's Forecast Additional Rental and all other sums payable by Tenant with respect to the Leased Premises during the Renewal Term on the terms and conditions set forth in the Lease.
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Rent. A. (a) Tenant covenants agrees to pay to Landlord during the Lease Term, to Landlord, without any setoff or deduction except as otherwise expressly provided hereinwhatsoever, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of 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 of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments the Base Rent shall be paid concurrently with the payments of the Rent on which the tax is based. Base Rent and Additional Rent for each calendar year or portion thereof an annual payment payable during the Lease Term, shall be due and payable Term in advance in monthly 12 equal installments on the first day of each calendar month during the Lease TermTerm 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 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 terminates on a day other than the last day of a calendar month, then the installments of Base Rent (if any) and Additional Rent (if any) any adjustments thereto for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder Prepaid Rent shall be applied first paid by Tenant to the earliest accrued Landlord upon execution of this Lease and unpaid Rent then outstanding. Tenant’s covenant 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 independent subject to a late charge in the amount equal to 5% of every 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 covenant set forth in this Leaseremedy that may be available, to an administrative charge of $250.
B. If Tenant fails to pay any installment (c) Base Rent shall be adjusted upward on each anniversary of the Rent Commencement Date (“Rent Adjustment Date”). The new payment of Base Rent and Additional shall be arrived a t by multiplying the Base Rent or any other item of Rent within ten (10) days after payable for the same becomes due and payable hereunder, period immediately prior to a “Late Charge” equal to five rent Adjustment Date by one-hundred two percent (5102%) of such unpaid amount will ). The newly adjusted Base Rent shall be due and payable to Landlord commencing with the next installment 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 shall continue to pay Base Rent at the rate for the previous period but, upon receipt from Landlord of the computation of the adjusted Base Rent, Tenant shall thereafter pay monthly such adjusted Base Rent and, within 30 days following 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. In addition to the Base Rent, as same may be adjusted from time to time, Tenant shall pay, as Additional Rent, Tenant’s Proportionate Share of Taxes and the Operating Expenses incurred by Landlord in connection with the operation and maintenance of the Building and the Property. Tenant’s 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 to be paid to the State of Florida by the Landlord in respect of sales or use taxes. Should such tax rate change under the Florida Sales Tax Statutes or other 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 Lease 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.
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Rent. A. During the twelve month period following the Effective Date of this lease or until such time as Tenant covenants to pay to Landlord during occupies the Lease TermPremises following the construction of Tenant’s Leasehold Improvements, without any setoff or deduction except as otherwise expressly provided hereinwhichever occurs first, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called (“Rent.” In additionConstruction Period”), Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to not be in addition to all other payments required to be paid to Landlord by Tenant under this Leasepay any Base Rent. Such payments shall be paid concurrently with For the payments twelve month period following the expiration of the Rent on which the tax is based. Base Rent Construction Period (with such 12-month period and Additional Rent for each calendar year or portion thereof during the 12 month period thereafter being herein called a “Lease TermYear”), shall be due and payable in advance in monthly installments beginning on the first day of each calendar the next full month during following the date on which the Construction Period expires (herein called the “Rent Commencement Date”), Tenant shall pay or cause to be paid an annual rent for the Premises in the amount of $.11 per square foot of the Premises, payable in equal monthly installments, in advance. For the second Lease TermYear, without demandTenant shall pay an annual Base Rent of $.165 per square foot of the Premises, payable in equal monthly installments, in advance. If For the third Lease Term commences on Year, Tenant shall pay an annual Base Rent of $.22 per square foot of the Premises, payable in equal monthly installments, in advance. At such time as the survey is completed pursuant to Section (I) Paragraph C., Authority and Tenant agree to attach a day other than rent schedule to this lease as Exhibit E. Such schedule shall show the actual monthly and yearly amount of the Base Rent for the first day of a month or terminates on a day other than three Lease Years. Starting with the last day of a monthfourth Lease Year, then and each Lease Year thereafter, the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 escalated pursuant to Section I(M) hereafter. The Base Rent shall be payable to the Authority at Columbus Regional Airport Authority, X.X. Xxx 000000, Xxxxxxxx, XX 00000, Attn: Accounts Receivable, without prior demand and without any abatement, except as may be provided elsewhere in this Lease.
B. . If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent additional charges provided herein within ten (10) days after of the same becomes date it is due and payable hereunderpayable, such unpaid amounts will be subject to a “Late Charge” late payment charge equal to five two percent (52%) of such unpaid amount will amounts. Any payment that remains unpaid for more than thirty (30) days after its due date shall be due and payable with subject to a per annum interest rate calculated at four percent (4%) above the next installment of average prime rate reported by the Wall Street Journal during the period such amounts remain outstanding. Anything contained in this Lease to the contrary notwithstanding, Tenant’s obligation to pay Base Rent shall not commence until Authority has completed construction of the Ramp (as hereinafter defined) and the same is available for use by Tenant to LandlordTenant.
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Samples: Land Lease (Airnet Systems Inc)
Rent. A. On the date that Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for Month 6 of the Lease Term that Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 of which hereinafter may be collectively called “this Lease. Xxxxxx agrees to pay Landlord the Base Rent.” , without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease. In additionaddition to the Base Rent, Tenant shall paypay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all rentthese amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, sales and use taxes the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or other similar taxes, if any, levied expiration or imposed by termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments prorated Rent shall be paid concurrently with on the payments of the Rent on which the tax is based. Base Rent Commencement Date, and Additional any prorated Rent for each the final calendar year or portion thereof during the Lease Term, month hereof shall be due and payable in advance in monthly installments paid on the first day of each the calendar month during in which the Lease Term, without demand. If the Lease Term commences on a day other than the first day date of a month expiration or terminates on a day other than the last day of a month, then the installments of Base Rent (if any) and Additional Rent (if any) for such month or months shall be prorated, based on the number of days in such month. All 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 Leasetermination occurs.
B. If Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days after the same becomes due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable with the next installment of Base Rent by Tenant to Landlord.
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